A lot of things such as hurricanes, tornadoes (Arkansas is one of the worst states for tornadoes), and other disasters happen in Arkansas. Additionally, enough crime happens in the state that you should be concerned. Renters insurance can take that burden from you, but a quick check might find you wondering how you can afford it. Yet not all plans are equally expensive, which is why we’re here to let you know what your cheapest options are.
Here are the five cheapest renters insurance providers operating in Arkansas:
The Five Cheapest Quotes:
We would like to note that your experience and what we list here might differ, considering how varied your needs might be. Consider these general guidelines instead of exact guides.
The number listed next to each provider is the average annual rate for a standard policy.
1) Allstate: $346
The cheapest renters insurance in Arkansas will likely be Allstate, and this is a common trend across the country, considering how they have the infrastructure to support those low rates all across the country. You can also expect a wide range of optional coverage options that include identity theft restoration, business property coverage, water damage coverage, and more.
Some downsides may include a poor customer service experience (in a field filled with them), and a high rate for some high-crime areas. You may want to look into your local area a bit more before signing the dotted line.
You can expect the following working with Allstate:
- A better water and flooding insurance option than you would get from most other providers.
- Good coverage for high-value items.
- A great bundle option with auto-insurance, should you already have it with them or need it.
2) State Farm: $364
The second cheapest option by a slim margin, State Farm also casts its net over a wide area and serves many Arkansas residents to satisfaction. Very accessible with plenty of deals on offer, State Farm could very well be the best choice if you know where to look and are willing to install some security measures in your home.
We found their business coverage to be a bit lacking, and water coverage also could use a bit of work, but these might not be issues depending on your circumstances. Additionally, you may find yourself working with a subpar agent at the local level, so you may need to try a few options.
You can expect the following working with State Farm:
- A more customizable planning and onboarding process than most other providers offer.
- A better level of coverage on average for the price you’ll pay.
- A great level of support should you lose the ability to use your apartment for a while.
3) Amica: $374
The third cheapest provider will likely be Amica, a provider which heavily prides itself on its service while still (at least for the state of Arkansas) being able to have rates that can easily compete with Allstate and State Farm. They seek to be able to cover you for plenty of different incidents, including vandalism, temporary relocation, and guest injury situations. In most cases, you will experience a better level of coverage for the price with an Amica policy.
Compared to some of the other providers, you might not have as many customization options, although policies can be flexible if your situation allows for it.
You can expect the following working with Amica:
- Bundling options that may include small business, boat, motorcycle, event, and auto insurance.
- A claims process that is easy to work with and will not take long, easing the burden during a difficult time.
- A provider that takes customer satisfaction very seriously.
4) Liberty Mutual: $477
A provider that usually has somewhat higher rates yet nonetheless making our list for Arkansas, Liberty Mutual provides a standard array of services and options to potential customers, and provides average coverage in most categories. Other small useful things worth mentioning include a great mobile and online interface and a wide service range.
Their car insurance services received quite a few complaints, which is notable for those who might want to create a bundle. They do offer many different types of insurance, however, should you be interested, and its hard to say they are below average in many of our metrics.
You can expect the following working with Liberty Mutual:
- Optional coverages that include identity theft, electronics, jewelry, water escape damage, and high-value items.
- More discounts than many other providers and agreements with many organizations that could lead to a good offer.
- An easy-to-use online quoting system.
5) Farmers: $696
While notably the most expensive option on this list, Farmers still has plenty of benefits to consider. Their customer service rates are better than most of its competitors, which might go a long way if you heavily value your time or your patience. Additionally, you can expect a wide range of customization options for your policy, including personal article floaters, identify theft protection, pet injury insurance, and liability coverage.
All this in mind, Farmers is still an expensive option for many, and their jewelry coverage can leave quite a bit to be desired. Some customers have also reported some troublesome bureaucratic and online issues which might inconvenience you.
You can expect the following working with Farmers:
- The ability to customize your deductible, allowing you to affect your final price.
- A helpful customer service team that you can talk to.
- Customization based on perceived risk.
We’re not going to lie to you: Arkansas has it rough when it comes to renters insurance rates. Yet that doesn’t mean you shouldn’t consider it, and that doesn’t mean you have to pick the most expensive option. Look into the above options a bit more and see if you can find a good match. You’ll likely surprise yourself, and you’ll be much happier with some peace of mind regarding your Arkansas apartment. No matter your choice, you’ll be able to feel more confident in your decision after doing your due diligence.