A great place to settle down and try and start a new life with a cheaper home, Arkansas can be a place of investment for many, and we want to make sure you are able to protect that investment. Storms often make their way through the region, and crime and fires are additional problems to contend with. In response, you should try to get a homeowners insurance policy for your place. Yet we understand that it can be expensive, which is why we also want you to look at the information below we have provided on the cheapest policy providers in the state.
Here are the four cheapest homeowners insurance providers operating in Arkansas:
The Four Cheapest Quotes:
Like in any state, rates can vary from home to home in Arkansas, so you’ll want to do some research for yourself after looking over the following information as a general guide.
The number listed next to each provider is the average annual rate for a standard policy.
1) Farmers: $1,659
The cheapest policy option (at least at the default level) in Arkansas, Farmers might be a good choice if you need to fulfill a requirement for your mortgage. Yet they’re much more than that, considering the wide array of customization options and policy add-ons available to you. With Farmers, there are three main tiers of coverage, and the first has highly customizable coverages, allowing you to reduce waste and get what you need.
Focusing a bit more on the negatives, Farmers doesn’t have as high a financial rating as other providers, but we find this unlikely to affect you. What might be more concerning is that customer satisfaction rates are middling, with customers having complaints about service and rates after the signup process.
You can expect the following working with Farmers:
- An excellent loss-of-use policy for the price you’ll be paying.
- Options for condos, townhomes, and other types of housing if you think a more standard policy wouldn’t fit your needs.
- A very friendly and helpful staff, as Farmers is known for providing excellent customer service.
2) Nationwide: $1,892
An excellent option for the homeowner who knows exactly what they want out of their policy, Nationwide is a well-regarded option with excellent all-around coverage, that, while a bit expensive in some ways, will make sure you have very little left to worry about. How will that be the case? With the amount of customization options available through Nationwide, you will be able to craft the exact policy you’re looking for, reducing both risk and waste.
This comes at a bit of a cost, though, as the optional coverage options are often more expensive than their counterparts, and certain areas will just have rates that are too much for us to recommend Nationwide. Furthermore, you might run into less-than-fast service on occasion, depending on what you’re trying to have done.
You can expect the following working with Nationwide:
- A wide array of discounts available, including bundling options and a new homeowner discount.
- An excellent repair or replacement plan for items stolen or damaged in your home.
- Optional coverages such as flood, earthquake, water backup, identity theft, and a few more.
3) Allstate: $2,202
More expensive than previous options by quite a bit, we still consider Allstate to be a possible option to homeowners in certain circumstances, such as those who are looking to cover older homes or those who are hoping to bundle their insurances (which might make them the overall cheapest option). They also offer a wide range of add-on policies you might need, and that’s on top of a standard array that should be enough for most families.
The main complaint most people would have against them is their customer service, which generally isn’t up to par with the industry. You also might deal with pushy agents who want to update your coverage just a bit too often, and a slow response time should you need to make a claim.
You can expect the following working with Allstate:
- Plenty of discounts available to lower your total annual rate.
- The benefits of working with a reliable company with a massive infrastructure, ensuring you can always get consistent support.
- A set of online tools and services that make them one of the easiest companies to work with online.
4) State Farm: $2,450
While State Farm asks a lot from its customers financially and might not be a good pick for everyone, we still wish to go over its virtues. It is able to provide people with a general and reliable policy that will fulfill most requirements and let you rest easy at night. They are the most popular home insurance provider in the country and are able to support policies just about anywhere in the country.
However, for the price, you aren’t getting many options, even those that would cost extra. And there aren’t too many discounts available, at least when State Farm is compared to other companies. As implied before, shopping around more might be best before settling with State Farm in Arkansas, unless you’re lucky and use their quoting tool to find out your rate would be low after all.
You can expect the following working with State Farm:
- An online quoting system that is second to none and will make it easy to at least consider State Farm and see if you get lucky where the annual rate is concerned.
- A high level of accessibility, with good online systems and agents near most populated areas.
- An extremely experienced and stable company, ensuring you never have to worry about delays or issues when making a claim.
Arkansas can be a great place to live, but living there also requires a certain level of preparation, of which getting a homeowners insurance policy is a major component. While it can be a costly thing and a tough choice to make, we’re certain that with a bit of planning you’ll make the right one and get the perfect plan for your home for years to come. We hope that the above information helped and that the rest of the process will be quick and easy for you and your family.