UPDATED: May 5, 2020
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|Arkansas Statistics Summary||Details|
|Road Miles||Total in State:102,609
Vehicle Miles Driven: 3,489 Billon
|Most Popular Vehicle||Sierra 1500|
State Rank: 9
|Total Driving Fatalities||2008-2017
Drunk Driving: 1507
|Annual Average Premiums||Collision: $304.87
|Cheapest Providers||USAA &
State Farm Mutual Auto
What comes to mind when you think of Arkansas?
Beautiful hot springs and part of the Ozark Mountains call the state home, not to mention that it is the birthplace of former President Bill Clinton.
The Ozark Mountains are filled with plateaus and hardware forests. There are numerous hiking trails, including the Ozark Highlands Trail, which is 218 miles through mountains and valleys in the Ozarks. Love the challenges of mountain biking? There is both a silver-level ride center and a bronze-level ride center in the state.
If you love spending time outdoors, hiking and mountain biking is just the beginning. The Arkansas Ozarks are filled with places ideal for camping, rock climbing, river floating, fishing, and more.
Want some recent American history? The home former President Bill Clinton spent his childhood in has been turned in a museum and is a National Historic Site.
Ready to enjoy some hot springs? Hot Springs National Park, which has been nicknamed “The American Spa,” is a great place to visit. Not only can you enjoy the hot springs, but you can also spend time in the city of Hot Springs, which offers the perfect opportunity for relaxation, shopping, and entertainment.
Ready to start your adventures? Whether you live in Arkansas or are taking some time off to visit, you’ll be spending some time on the open road. You need the peace of mind of knowing you have the right car insurance coverage for your way of life.
The only way to know you have the right coverage for your needs is to do your research. But we know research can be overwhelming, confusing, and ultimately take time away from your adventure. Not to worry. We’ve done all the work for you.
Read on to learn everything you need to know to make an informed decision about your coverage and stay safe driving through the Ozarks. As a first step, how about using your zip code to get a free quote on car insurance.
Arkansas Car Insurance Coverage and Rates
We know car insurance can be confusing. There are so many companies, coverage types, and add-on options. What is required? What is optional? How do you even know where to start?
We’ve collected a variety of data and information on insurance providers in Arkansas, as well as rules of the road so you can make an informed decision and stay safe when driving across the state.
But what about price? What’s a reasonable cost for car insurance? How can you tell? How are premium rates developed? We can help with that too! Let’s start with the average cost of car insurance. How does Arkansas compare to the rest of the country?
|Arkansas Average||National Average||Percent Difference|
The national average for car insurance is $1,311, while the average in Arkansas is $1,239. This means drivers in Arkansas pay about six percent less for car insurance each year than the average in the United States.
Arkansas Minimum Coverage
Every state in the country requires some level of minimum liability coverage or proof of financial responsibility in order for residents to legally drive on the road. This protects all drivers’ financial interests.
Should you end up in a car accident, Arkansas is a fault state, which means if you are found to be at fault in a car accident, you will be financially responsible for the resulting damages to both people and property.
Knowing what you (and other drivers on the road in the state) are required to maintain helps to be better prepared in the event of an accident.
In Arkansas, drivers are required to maintain the minimum coverage listed in the table below.
|Required Insurance||Minimum Limits|
|Bodily Injury||$25,000 per person
$50,000 per accident
|Property Damage Liability||$25,000|
As a part of an insurance company’s minimum coverage requirements, they must also offer insureds the option to purchase uninsured motorist coverage, but insureds are not required to accept this. However, if this coverage is declined, it must be noted in writing.
This minimum coverage protects in an accident because it provides financial coverage for damages the other driver experiences.
It does not offer any financial help for your damages or medical costs. In order for you to have that coverage, you will need to speak with your insurance agent about additional coverage. But what questions do you need to ask? What kind of options do you have?
One option you have in Arkansas is no-fault coverage. The purpose of this coverage is to ensure no matter who is at fault in an accident, you have some coverage for damages and medical costs. This includes if something happens while you are in another driver’s vehicle.
To learn more about other additional coverage options, keep reading.
Forms of Financial Responsibility
Financial responsibility is another piece of the minimum liability requirement levied by the state. Proof of insurance is one way to provide this.
The state requires every vehicle that is registered to be covered by some form of financial responsibility. You must keep a copy of the proof of financial responsibility in each vehicle at all times.
If you are stopped by a law enforcement officer and asked to provide said proof of insurance, you can do so both with a traditional insurance card and an electronic copy on your mobile device.
Premiums as a Percentage of Income
Since you know that if you want to legally drive in the state of Arkansas, you must have some form of insurance coverage, even if it is only the minimum liability coverage, you know you’ll be spending money on insurance. But how much money? Will this insurance coverage requirement have a significant impact on your income?
This table provides data on the percentage of disposable income Arkansas drivers can expect to spend on insurance. It also compares how much disposable income state residents spend versus national averages of the same.
As you can see, residents in Arkansas spend about 2.6 percent of their disposable income on car insurance coverage, while the national average is about 2.4 percent of disposable income spent on insurance coverage. Unfortunately for Arkansas residents, this is about a ten percent increase over the national average.
Perhaps more relevant than the national average, however, is how much disposable income Arkansas’s nearby neighbors spend on car insurance coverage. The below table looks disposable income spent on car insurance for Missouri, Kansas, Oklahoma, Louisiana, and Mississippi.
If you were to live in Louisiana or Mississippi, instead of Arkansas, you would spend between three and 3.6 percent of your disposable income on car insurance, which is between 15 and 30 percent higher than what Arkansas residents spent.