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Best homeowners insurance companies in  Arkansas for 2024

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Thomas is a well-rounded financial professional, with over 20 years of experience in investments, corporate finance, and accounting. His investment experience includes oversight of a $4 billion portfolio for an insurance group. Varied finance and accounting work includes the preparation of financial statements and budgets, the development of multiyear financial forecasts, credit analyses, and the evaluation of capital budgeting proposals.

In a consulting capacity, he has assisted individuals and businesses of all sizes with accounting, financial planning and investing matters; lent his financial expertise to a few well-known websites; and tutored students via a few virtual forums.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Thomas is a well-rounded financial professional, with over 20 years of experience in investments, corporate finance, and accounting. His investment experience includes oversight of a $4 billion portfolio for an insurance group. Varied finance and accounting work includes the preparation of financial statements and budgets, the development of multiyear financial forecasts, credit analyses, and the evaluation of capital budgeting proposals.

In a consulting capacity, he has assisted individuals and businesses of all sizes with accounting, financial planning and investing matters; lent his financial expertise to a few well-known websites; and tutored students via a few virtual forums.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict  editorial integrity, this post may contain references to products from our partners. Here’s an explanation of  how we make money. Our content is backed by Coverage.com  LLC, a licensed entity (NPN: 19966249). For more information, please see our  Insurance Disclosure.

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Bankrate's insurance editorial team leveraged decades of knowledge of the insurance industry, as well as average rate data and third-party metrics, to find the best homeowners insurance in Arkansas. We determined that the average cost of homeowners insurance in the Natural State is $3,019 for $300,000 in dwelling coverage. This rate is 40 percent more than the national average of $2,151.

With average rate data as a comparison point, we reviewed the top insurers writing policies in the state, looking at available coverage options and discounts, customer satisfaction scores, financial strength ratings and digital tools. Our goal is to provide you with the tools you need to find home insurance that fits your coverage needs and your budget.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.

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Compare the best homeowners insurance companies in Arkansas

Although your rate may vary from this, the average home insurance cost in Arkansas for $300,000 in dwelling coverage is $3,019 per year. Using rate data from Quadrant Information Services, we compared average rates from top companies with the state average. Looking at companies with competitive rates, we further narrowed our list by analyzing coverage options, discounts, digital tools, scores from the 2023 J.D. Power Home Insurance Study and AM Best financial strength ratings.

Powered by Coverage.com (NPN: 19966249)

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Bankrate's trusted insurance industry expertise

The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

The top 5 home insurance companies in Arkansas

Best for military-focused coverage options

4.7

4.7

Avg. premium for $300K dwelling

$168/mo

Avg. premium for $300K dwelling

$2,020/yr

Customer satisfaction

881/1,000

Why USAA made our list: For active or retired military members and their families living in Arkansas, USAA may be a great homeowners insurance provider to consider. Policies include coverage for military uniforms, and USAA is also a lender of Veterans Administration loans. Although it is technically not eligible for ranking, USAA consistently scores highly on J.D. Power customer satisfaction studies. In addition to low average rates, policyholders may earn a discount for installing protective devices and maintaining continuous coverage with USAA.

Who USAA may be good for: If you are stationed at Pine Bluff, Fort Chaffee or Camp Joseph Robinson, or if you are retired from an Arkansas military installation, USAA may be a great homeowners insurance company for you.

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USAA policyholders can purchase additional coverage through an endorsement to customize their policy. Some popular options that are beneficial to Arkansians may include the following:

Best for unique endorsement options

4.6

4.6

Avg. premium for $300K dwelling

$319/mo

Avg. premium for $300K dwelling

$3,825/yr

Customer satisfaction

834/1,000

Why Auto-Owners made our list: Auto-Owners is a regional carrier with coverage available in 26 states. Although Auto-Owners does not have the same robust digital tools as some competitors, it does have a long list of endorsements for potential policy customization. Add-ons include cyber protection, identity theft coverage and guaranteed home replacement. For shoppers who prefer simplicity, Auto-Owners offers the Homeowners Plus bundle, which is a package of various endorsements, including coverage for damage caused by household appliances. Auto-Owners' rates are not as competitive as some other carriers in Arkansas, but policyholders may be able to lower their rates with discounts for advanced quoting, backup generators and being mortgage-free.

Who Auto-Owners may be good for: Policyholders who are willing to pay a bit more for extensive endorsement options might pick Auto-Owners as their company of choice.

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Auto-Owners has several optional endorsements to help homeowners find coverage to accommodate their unique risk profile, such as:

Best for local agents

4.2

4.2

Avg. premium for $300K dwelling

$226/mo

Avg. premium for $300K dwelling

$2,708/yr

Customer satisfaction

829/1,000

Why State Farm made our list: State Farm may be a good option for those who want a more personal insurance experience. The company has a large number of local agents who may be able to assist with purchasing home insurance face-to-face. Working with a local agent may help ensure you're taking advantage of all potential discounts, like bundling and new roof savings. For shoppers who prefer a virtual experience, State Farm does offer a robust digital app and website, but its average rates are higher than average in Arkansas, which may not suit homeowners on a strict budget.

Who State Farm may be good for: Policyholders who value customer service may appreciate State Farm's local agent availability and robust digital tools.

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The optional endorsements through State Farm vary between states so you will need to speak with an agent to learn what coverage types are available in Arkansas. One popular option is:

Best for low average rates

4.1

4.1

Avg. premium for $300K dwelling

$169/mo

Avg. premium for $300K dwelling

$2,026/yr

Customer satisfaction

790/1,000

Why Travelers made our list: For shoppers on a budget, Travelers' offers low average rates in Arkansas. Your own rate with the company may be improved with discounts, which include a claims-free discount, home buyer discount and a green home discount for anyone with a LEED-certified home. You may be able to customize your policy with a long list of endorsements, including water backup, jewelry and valuable items coverage and identity fraud coverage. Travelers came in below average in both the J.D. Power 2023 Home Insurance Study and the 2023 Property Claims Satisfaction Study; you may want to speak with existing policyholders about their experience if customer service is a priority for you.

Who Travelers may be good for: Travelers' low average rates may make it a good option for homeowners on a tight budget. It might also be a good choice for shoppers looking to customize their insurance policy with unique endorsements.

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Best for convenient coverage packages

3.7

3.7

Avg. premium for $300K dwelling

$263/mo

Avg. premium for $300K dwelling

$3,154/yr

Customer satisfaction

Not rated

Why Encompass made our list: Encompass Insurance is a subsidiary of Allstate with some unique features that may make it attractive to Arkansas homeowners. Encompass policies come in three levels: Special, Deluxe and Elite. At the higher levels, your policy includes 200 percent extended dwelling coverage. Encompass is a more regional carrier, but it offers a fairly comprehensive list of discounts with potential savings for protective devices, new homebuyers, renovations and more. However, Encompass does not offer online quoting or claims filing, so it may not be a good option for shoppers who value digital tools.

Who Encompass may be good for: If simplified, pre-packaged home insurance options are appealing to you, and you prefer to handle your insurance needs in person or over the phone, Encompass may be a great choice for your home insurance.

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Encompass offers three different insurance packages for the homeowner to select from: Elite, Deluxe and Special. While coverage depends on what package is selected, some enhanced endorsement options include:

Additional Arkansas home insurance companies to consider

Arkansas Farm Bureau

Who this may be best for

Homeowners who prefer working with local and experience agents

Farm Bureau has policy coverage that is tailored to each state and local agents to help with policy selection. They may be a good option for Arkansas homeowners who prefer working with agents who have experience with the perils of the South Central region. You may want to consider Arkansas Farm Bureau as an option due to their various discounts and bundling options.

To learn more, read Bankrate’s Farm Bureau insurance review.

Farmers

Who this may be best for

Homeowners who need coverage beyond a standard policy

Farmers present policyholders with a wide variety of options with its Farmers Flex Personal Home Policies. These optional endorsements may make Famers a good option for homeowners who need coverage beyond what a standard home policy offers.

To learn more, read Bankrate’s Farmers home insurance review.

How Bankrate chose the best home insurance companies in Arkansas

Bankrate's insurance editorial team looked closely at Arkansas homeowners insurance companies to determine who was writing the best policies in the state. Multiple factors, including average cost, customer service ratings and breadth of coverage options were taken into account. Each company was then assigned a Bankrate Score ranging from 0-5. The higher that score, the more likely the company was to land on our list of best Arkansas homeowners insurance list.

Cheapest home insurance companies in Arkansas

Finding cheap home insurance companies in Arkansas can be challenging, especially due to the recent increase in extreme weather and the rising cost of building materials. Evaluating your coverage needs and shopping rates and options with other carriers may be a good way to find a rate that is easier on your budget. We compiled a list of the best cheapest home insurance companies in Arkansas using average rate data from Quadrant Information Services.

How to get cheap Arkansas home insurance

If you're looking for the cheapest home insurance, there are steps you may be able to take to keep your home insurance cost down:

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Best home insurance discounts in Arkansas

The best home insurance companies offer at least a handful of discounts for potential policy savings. Some common ones you might find include:

How to save on home insurance policy renewals in Arkansas

Most homeowners receive their policy renewals about 45 days before the renewal date. This is the perfect time to review your policy coverage, premium and discounts to ensure you are still happy with your selections and make adjustments if needed. If finding a cheaper policy is your main concern, here are a few ideas that may help you reduce your insurance cost:

How much is home insurance in Arkansas?

The average cost of homeowners insurance in Arkansas is $3,019 per year for $300,000 in dwelling coverage, which is 40 percent more than the national average of $2,151 for the same amount of dwelling coverage. Arkansas’ higher average premium may be partly due to the frequency of natural disasters that lead to insurance claims. Rates in this part of the country may vary greatly depending on factors such as the risk of tornado damage. This can be seen by looking at the average rates for neighboring states. Oklahoma homeowners pay an average of $4,675 for $300,000 in dwelling coverage, while Mississippi's average rate is lower at $4,289.

Arkansas homeowners insurance rates by city

Arkansas home insurance premiums can fluctuate by city and even within ZIP codes. Risk factors can vary significantly between crime rates, weather patterns, home rebuilding costs, and other rating factors directly impacting home insurance costs. To better understand the average Arkansas home insurance cost on a city level, take a look at the city-specific data below.

In addition to your personal rating factors, your homeowners insurance rates may vary within Arkansas based on where you live. Cities and even individual ZIP codes experience different crime rates and regional weather patterns, which may impact your premiums. Below are the five cheapest cities for homeowners insurance in Arkansas, based on average rates.

If you live in one of the cities below, you may pay higher-than-average rates for homeowners insurance. Based on average rates, these are the five most expensive cities for home insurance in Arkansas.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Arkansas?

HO-3 insurance policies are the most popular home insurance form type. Dwelling and other structures coverage is written on an open-peril basis, which covers every kind of peril that isn't specifically excluded from your policy. Personal property coverage, also known as contents coverage, is written on a named peril basis, meaning it is only covered from the perils listed in the policy. It is standard to have 16 named perils for personal property.

While most policy forms are standardized to provide consistency within the insurance industry, in areas prone to certain types of disasters, insurance providers can exclude or put limitations on perils to mitigate their risk. Below are a few of the most common types of damage covered by a standard HO-3 policy in Arkansas, but review your policy paperwork to learn the specifics regarding your policy.

Additional home insurance coverage types in Arkansas

Even the best homeowners insurance in Arkansas may not automatically include all the coverage types you need. Endorsements are optional add-ons that may help you build a more robust policy. Common endorsements and standalone policies you might consider in Arkansas include:

Related content:

Windstorm insurance Previously Read

Does homeowners insurance cover tornado damage? Previously Read

Guide to flood insurance Previously Read

Common Arkansas home insurance problems

The overall impact of climate-induced extreme weather is Arkansas homeowner's biggest challenge. Arkansas saw 37 tornadoes in 2023 and several homeowners already experienced devastating damage from high winds in January of 2024. With Tornado Alley's eastward migration, insurance companies are reassessing their risk models to account for future catastrophic losses.

Frequently asked questions

What is the best homeowners insurance company in Arkansas?

The best homeowners insurance company will vary based on your needs and preferences. To find the best company for you, most insurance professionals recommend narrowing down what you want in a company and requesting quotes from carriers that meet your preferences. This way you may be able to see which company offers you the coverage you need at the best price.

The best homeowners insurance company will vary based on your needs and preferences. To find the best company for you, most insurance professionals recommend narrowing down what you want in a company and requesting quotes from carriers that meet your preferences. This way you may be able to see which company offers you the coverage you need at the best price.

What is the cheapest homeowners insurance company in Arkansas?

There is no single insurance company that will always have the lowest prices at all times for all homeowners. Every company has its own method of determining rates, using factors such as your location, credit rating and the age and condition of your home to determine your rate. It can be helpful to gather several quotes from insurers to see who offers you the most affordable coverage.

There is no single insurance company that will always have the lowest prices at all times for all homeowners. Every company has its own method of determining rates, using factors such as your location, credit rating and the age and condition of your home to determine your rate. It can be helpful to gather several quotes from insurers to see who offers you the most affordable coverage.

Why is Arkansas home insurance so expensive?

Insurers are in the business of risk, and if your home is in a region that sees a higher level of risk, you will likely pay more for coverage. Arkansas is prone to a number of types of natural disasters, including tornadoes and blizzards, which may be partially responsible for the high average rates in the state. The rate of damaging weather patterns is increasing in the state, so it's possible that rates may rise in the coming years.

Insurers are in the business of risk, and if your home is in a region that sees a higher level of risk, you will likely pay more for coverage. Arkansas is prone to a number of types of natural disasters, including tornadoes and blizzards, which may be partially responsible for the high average rates in the state. The rate of damaging weather patterns is increasing in the state, so it's possible that rates may rise in the coming years.

Unlike car insurance, homeowners insurance is not mandated by law in Arkansas — or in any state. However, if you have a mortgage on your home, your lender will likely require it. Even if you don't carry a mortgage, most insurance experts recommend having a policy in place to protect your financial investment in your home in the event of a covered incident.

Unlike car insurance, homeowners insurance is not mandated by law in Arkansas — or in any state. However, if you have a mortgage on your home, your lender will likely require it. Even if you don't carry a mortgage, most insurance experts recommend having a policy in place to protect your financial investment in your home in the event of a covered incident.

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Thomas is a well-rounded financial professional, with over 20 years of experience in investments, corporate finance, and accounting. His investment experience includes oversight of a $4 billion portfolio for an insurance group. Varied finance and accounting work includes the preparation of financial statements and budgets, the development of multiyear financial forecasts, credit analyses, and the evaluation of capital budgeting proposals.

In a consulting capacity, he has assisted individuals and businesses of all sizes with accounting, financial planning and investing matters; lent his financial expertise to a few well-known websites; and tutored students via a few virtual forums.

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