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The Best Cheap Arkansas Car Insurance for 2024

Updated
Dana George
By: Dana George
Dana George
Dana George
Writer

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.

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Our Insurance Expert

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It might be tough to find a driver who enjoys shopping for low-cost car insurance, but there are few more important moves in personal finance. The best Arkansas auto insurance can protect you from a financial hit while offering peace of mind. Read on to find out which car insurance companies in Arkansas provide the cheapest coverage.

  • Cheapest for a teen driver: Southern Farm Bureau
  • Cheapest for a senior driver: Geico
  • Cheapest for driver with one speeding ticket: Geico
  • Cheapest for a driver with one accident: USAA
  • Cheapest for driver looking for minimum coverage: USAA

Cheapest for teen drivers

The cheapest car insurance in Arkansas for teen drivers comes courtesy of Southern Farm Bureau, with an average annual rate of $2,643.

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Best for teen drivers in ArkansasFarm Bureau
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Other Arkansas auto insurance carriers worth considering when insuring a teen are:

  • USAA, with an average annual rate of $2,880
  • Geico, with an average rate of $3,302

Cheapest for senior drivers

Geico proves it's one of the best car insurance companies in Arkansas by offering an average annual rate of $928 to older, more experienced drivers.

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Best for Seniors in ArkansasGeico
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Following are:

  • USAA, offering an average annual rate of $1,115
  • Nationwide, coming in with an average rate of $1,249

Cheapest for drivers with one speeding ticket

It is possible to enjoy relatively cheap auto insurance in Arkansas, even with a speeding ticket. The lowest rate comes from Geico, with an average annual premium of $1,353.

Other competitive carriers include:

  • USAA, offering an average annual rate of $1,390
  • Nationwide, with an average annual rate of $1,778

Cheapest for drivers with one accident

USAA offers members of the military and their families an average annual rate of $1,640, even after an accident.

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Best for Arkansas Drivers with one accidentUSAA
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For those drivers who don't qualify for USAA, other options include:

  • Geico, with an average annual rate of $2,031
  • Southern Farm Bureau, offering an annual rate of $2,076

Cheapest for drivers looking for minimum coverage

Once again, USAA beats competitor's rates by offering cheap liability car insurance in Arkansas, with an average annual rate of $278.

Other companies offering competitive rates for minimum coverage in Arkansas auto insurance include:

  • Geico, with an average annual rate of $287
  • Trexis, coming in with an average rate of $372

Average car insurance cost in Arkansas compared to the national average

The average cost of auto insurance in the state of Arkansas is $2,671 annually, slightly higher than the national average. The cost of your coverage depends on things like age, driving history, credit score, and where in the state you live.

Average Rate Category Arkansas National Average
Overall $2,671 $2,646
Young drivers $6,266 $5,988
1 accident on driving record $3,158 $3,092
1 speeding ticket on driving record $2,801 $2,766

Arkansas auto insurance laws

Per Arkansas car insurance laws, drivers must carry at least minimum liability coverage. Drivers who fail to carry auto insurance face a minimum penalty of $500, registration suspension, and an automatic reinstatement fee of $100.

Arkansas minimum coverage requirements

Arkansas minimum car insurance requirements include:

  • $25,000 for injury or death of one person
  • $50,000 for injury or death of more than one person
  • $25,000 for property damage caused by the driver

How to get cheap auto insurance in Arkansas

Landing low-cost car insurance involves shopping around, gathering insurance quotes, and searching for discounts that can drive car insurance quotes in Arkansas even lower. The best car insurance companies are happy to provide you with the information you need to compare insurance providers.

Hunting for discounts

How much is car insurance in Arkansas? It's the price you're initially quoted, plus any discounts for which you qualify. Each carrier offers its own set of insurance discounts, so it pays to shop around. Here are some of the discounts that can save you money:

  • Good student discount
  • Defensive driver discount
  • Pay-in-full discount
  • Away-at-school discount
  • Occupational discount
  • Alumni discount
  • Professional organization discount
  • Safety feature discount
  • Usage-based discount
  • Multi-car discount
  • Multi-policy discount
  • New car discount

You will also find that insurers base your rate quote, in part, on your credit score. If your credit score is low, taking steps to raise it can lower the rate you pay for auto insurance. One way to land affordable car insurance in Arkansas is to do everything you can to increase your score. It may take time, but it's worth the effort.

Other things to consider when looking for car insurance in Arkansas

In early 2020, Arkansas launched a new program to better tackle the problem of uninsured motorists. It's an instant insurance verification system that offers a real-time view of the insurance status for every vehicle in the state. A lapse in coverage automatically generates a letter to the owner of the car, and requires a reinstatement fee of $100. Any driver who does not secure a new insurance policy within one month faces the suspension of their vehicle's registration.

If you do not have the funds to buy comprehensive insurance coverage right now, make it a point to purchase at least minimum coverage. Doing so just may save you a fine from the state.

Need homeowners insurance? Check out The Ascent's guide to the best cheap car insurance in Arkansas.