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Best Home Insurance in Arkansas 2022

Your home is a major investment and you'll want to ensure it's adequately insured against weather, burglaries and more. Homeowners insurance in Arkansas costs, on average, $2,048.25. This is considerably high when compared to the national annual average of $1,213.89.

When managing high insurance rates, shopping around for the right insurance carrier that fulfills your needs and budget is essential. To help, SmartFinancial analyzed rates, coverages and third-party scores to bring you the best homeowners insurance in Arkansas in 2022.

Best Home Insurance Companies in Arkansas

SmartFinancial's top insurance companies in Arkansas were determined by considering home insurance rates from different companies and J.D. Power customer satisfaction scores. The average rates listed below are based on homeowners insurance policies with $250,000 dwelling coverage.

Company

Best for

Score*

Best for Overall Customer Satisfaction: State Farm

Best for overall customer satisfaction

835

Best Local Insurer: Farm Bureau

Best local insurer

Not rated

Best for Military Families: USAA

Best for military families

882

*Companies were chosen based on reviews and JD Power scores out of 1,000.

Homeowners insurance in Arkansas costs, on average, $2,048.25.

Best for Overall Customer Satisfaction: State Farm

State Farm is a well-known insurance company and was rated among the five best for overall customer satisfaction by J.D. Power in a 2021 homeowners insurance study. Arkansas homeowners pay $2,904.37 per year, on average, for a State Farm home insurance policy. This is slightly higher than the statewide average. However, NAIC lists only five complaints by Arkansas residents and assigned State Farm a complaint index of 0. This suggests that homeowners are generally satisfied with their service.

  • Discounts: Bundle with another policy; home security systems; impact-resistant roofing

Best Local Insurer: Farm Bureau

There were 42,200 Arkansas farm operations in 2020, contributing to a demand for home insurance that served farming and agriculture families. Farm Bureau is a nonpartisan, nongovernmental and independent organization that "strives to be the voice of agricultural producers at all levels." 

Costing $2,423.02 per year, on average, Farm Bureau customers enjoy tons of membership perks, including exclusive deals and discounts for medical procedures, car rentals and more. Members can also get an upgraded John Deere Rewards membership, an agricultural machinery and heavy equipment manufacturing company.

Best for Military Families: USAA

Arkansas was home to nearly 200,000 veterans from 2015 to 2019. If you have a veteran or active military in your family, then you may qualify for USAA home insurance. Costing $2,014.74 per year, on average, USAA is on the more costly end but policyholders get unique perks and amazing services for the price they pay. Personal property coverage is available worldwide, even while you're deployed on duty. Deductibles are also waived if military uniforms or equipment are damaged for covered insurance claims.

USAA actually received the highest score for overall customer service satisfaction in J.D. Power's 2021 homeowners insurance study but was not officially ranked since USAA is available only to military families.

  • Discounts: Bundle home and auto insurance; home security systems; claims-free history

Cost of Homeowners Insurance in Arkansas

Arkansas home insurance premiums are $2,048.25 per year, on average. Compared to the national annual average of $1,213.89, Arkansas residents are paying 69% more on home insurance rates. Based on our research, your actual rates can change depending on your insurance provider, dwelling coverage and county.

Arkansas homeowners pay $2,904.37 per year, on average, for a State Farm home insurance policy.

Cheapest Home Insurance Companies in Arkansas

SmartFinancial analyzed home insurance rates from 12 companies and found a significant range in prices. Metropolitan Property & Casualty returned the cheapest quotes, on average, at $1,512.16 per year — 26% below the statewide average. Conversely, Farmers $5,937.01 per year, on average, which is more than twice the statewide average.

Company

Average Annual Premium for $250,000 Dwelling Coverage

Metropolitan Property & Casualty

$1,512.16

USAA

$2,014.74

Allstate

$2,080.89

Republic Indemnity

$2,164.57

Shelter

$2,337.62

Farm Bureau Mutual

$2,423.02

State Auto

$2,666.18

Nationwide

$2,873.83

State Farm

$2,904.37

Auto-Owners 

$3,161.30

Metropolitan

$3,186.25

Farmers

$5,937.01

Average Cost by Dwelling Value

The amount of dwelling coverage you purchase — the cost for rebuilding your home after a covered claim — can affect your home insurance rates. The lowest coverage we analyzed was $150,000, which cost $1,385.20 per year, on average. When you purchase up to $450,000 in coverage, the price of home insurance rates jumps to $3,151.89 per year, on average.

SmartFinancial analyzed quotes from 65 out of 75 counties in Arkansas. Clay County returned the cheapest quotes, on average, at $1,156.80 per year — 44% below the statewide average. Homeowners in Crawford County pay the most in home insurance, on average. At $2,518.78 per year, on average, home insurance rates in Crawford County are 23% above the statewide average.

average annual premium by dwelling value for arkansas

Average Cost by County

County

Average Annual Premium for $250,000 Dwelling Coverage

Ashley

$2,352.00

Baxter

$1,896.24

Benton

$2,122.09

Boone

$1,821.43

Carroll

$2,170.68

Chicot

$2,333.70

Clark

$2,291.24

Clay

$1,156.80

Cleburne

$1,875.80

Columbia

$1,943.25

Conway

$1,835.58

Craighead

$2,041.81

Crawford

$2,518.78

Crittenden

$1,923.60

Cross

$2,129.10

Dallas

$2,390.64

Desha

$2,192.40

Drew

$2,429.64

Faulkner

$1,846.24

Franklin

$2,166.42

Garland

$1,866.61

Greene

$2,085.71

Hempstead

$2,389.80

Hot Spring

$2,109.94

Howard

$2,063.08

Independence

$1,972.02

Izard

$2,106.42

Jackson

$2,361.96

Jefferson

$2,114.18

Johnson

$2,099.13

Lawrence

$2,109.76

Lee

$2,107.20

Lincoln

$2,258.04

Little River

$2,361.36

Logan

$2,076.60

Lonoke

$1,929.74

Madison

$2,082.36

Marion

$1,958.76

Miller

$2,202.60

Mississippi

$2,171.42

Monroe

$2,218.20

Montgomery

$2,021.01

Nevada

$1,993.92

Newton

$2,069.04

Ouachita

$2,349.78

Phillips

$2,212.77

Pike

$1,614.36

Poinsett

$2,010.41

Polk

$1,952.88

Pope

$2,027.22

Prairie

$2,168.22

Pulaski

$2,085.40

Randolph

$1,953.00

Saint Francis

$2,196.60

Saline

$1,970.39

Searcy

$1,977.36

Sebastian

$2,017.99

Sevier

$2,343.84

Sharp

$2,062.42

Stone

$2,058.68

Union

$2,206.35

Van Buren

$1,929.48

Washington

$1,975.25

White

$2,022.46

Yell

$1,986.60

Compare Home Insurance Rates in Arkansas

Homeowners Insurance Coverages in Arkansas

Standard home insurance (HO-3 policies) protects you against multiple perils, including windstorms, fires and theft. However, some perils are not covered, including earthquakes and floods. The table below summarizes the most common home insurance coverage options plus optional protections worth considering:

Coverage

Description

Dwelling

Covers the cost of repairing or rebuilding your home after being damaged or destroyed by covered losses (e.g., windstorms, fires, burglaries).

Additional structures

Covers the cost of repairing or rebuilding structures besides the structure you reside (e.g., fences, detached garages, sheds).

Personal property

Pays to replace your personal belongings (e.g., furniture, clothes) if stolen or destroyed by a covered loss. You are typically reimbursed at actual cash value, or the item's value after depreciation.

Personal liability

Pays for legal expenses if you're the target of a lawsuit related to a covered claim (e.g., somebody sues you after suffering bodily injury or property damage while inside your home).

Loss of use

Covers additional living expenses if you're temporarily displaced from your home due to a covered claim (e.g., your home is being rebuilt after burning down from a wildfire). Eligible expenses can include meals and hotel bills.

Medical payments for others (optional coverage)

Covers the medical bills (e.g., x-rays, surgeries) of somebody who suffered bodily injuries while on your property.

Flood (standalone policy)

Pays for flood-related damages. Not covered under standard homeowners insurance — you'll need to purchase a standalone policy or insurance rider to gain this additional coverage.

What Arkansas Homeowners Need To Know

Arkansas homeowners should be conscious of natural disasters that could destroy their homes. Not all are covered under standard homeowners insurance.

Tornadoes

Arkansas experienced 2,301 tornadoes between 1950 to 2020 (approximately 32 tornadoes per year). Just recently in December 2021, a thunderstorm spawned multiple tornadoes across Arkansas, destroying multiple buildings and causing some fatalities. Fortunately, tornadoes are typically covered under the "windstorm" portion of your coverage, but you should always double-check with your insurance carrier and ask if you have a separate deductible.

Storms and Floods

Although Arkansas often experiences dry climates, living near a body of water, such as the Arkansas River, increases your risk of flood damages. The storms that triggered the Albert Pike flash flood of June 2010, for example, resulted in approximately $9 million in property damage after flash floods charged through Montgomery County.

Flood damage is rarely covered with basic homeowners insurance. You will need to buy a standalone policy or an insurance rider to be protected (more on that below).

Costing $2,014.74 per year, on average, USAA has amazing services for military families.

How To Find Home Insurance in Arkansas

Beyond our top recommendations, finding home insurance in Arkansas is a relatively simple process. Homeowners can choose a national carrier, like State Farm or Allstate — these tend to be popular options for their brand strength and the financial stability that often accompany larger companies. Some homeowners may prefer to work with a local agent and choose a regional carrier that better understands their needs.

Flood insurance

While flood coverage is generally not required, your mortgage lender may require it if you live in a high-risk flood zone, like near the Arkansas River. Homeowners can typically secure flood insurance in one of two ways:

  • Buy a flood insurance policy through the National Flood Insurance Program (NFIP). 

  • Buy a more affordable private flood insurance policy through a private company. Not all insurance providers will offer flood coverage so you may need to confirm.

Keep in mind that NFIP flood policies have a 30-day waiting period before coverage kicks in. During that time, flood damages will not be covered.

Frequently Asked Questions

What is the average cost of homeowners insurance in Arkansas?

Based on our analysis, the average cost of homeowners insurance in Arkansas is $2,048.25 per year, for $250,000 dwelling coverage. Compared to the national annual average of $1,213.89 per year, Arkansas homeowners pay 69% more, on average, for home insurance.

How much is home insurance in Arkansas a month?

Home insurance in Arkansas costs $170.69 per month, on average. Actual rates can vary based on your insurance carrier, dwelling coverage and county, among other factors.

What company has the cheapest homeowners insurance in Arkansas?

Metropolitan Property & Casualty is the most affordable home insurance, costing $1,512.16 per year, on average, for $250,000 dwelling coverage — 26% below the statewide average. This is based on SmartFinancial's analysis of over 3,000 home insurance quotes from 12 homeowners insurance companies.

Find the Best Home Insurance in the Natural State

Homeowners insurance is essential in protecting your home and personal belongings from certain natural disasters, burglaries and more. Although Arkansas residents tend to pay more in homeowners insurance rates, shopping around can help you secure the best price for your needs. 

SmartFinancial can do the hard work for you. We analyze rates and coverages from our 200+ insurance partners to match you with the right homeowners insurance policy. All you need to do is enter your zip code below and complete a quick questionnaire to receive your free quote.

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