Arkansas Homeowners Insurance

Homeowners Insurance in Arkansas: Complete Consumer Guide

Thinking about making the move to Arkansas? Here are some interesting facts about your new home state. The state flag of Arkansas has 25 stars to symbolize Arkansas becoming the 25th state. Arkansas became a state in 1836. Arkansas is the only U.S. state that produces diamonds. Arkansas is known for its lakes, rivers and hot springs. The state musical instrument of Arkansas is the fiddle. The capital of Arkansas is Little Rock. The state flower of Arkansas is the apple blossom. The state tree is the pine tree. The state bird is the mockingbird. The Magnet Cove region of Arkansas contains 102 varieties of minerals. More than half of the state of Arkansas is covered by forestland.

Types of Homeowners Insurance policies in Arkansas

What kind of homeowners insurance policy are you looking for? Not sure? Here is a look at the different types of policies.

HO-1 Called a “basic form,” this form covers the 10 most common perils. But you won’t find these forms everywhere. Some insurance companies do not offer HO-1 forms.

HO-2 This “broad form” provides more limited home insurance coverage. But it still provides more insurance coverage than a HO-1 basic form.

HO-3 This insurance form is the most widely purchased type of insurance. The HO-3 form provides coverage for named perils and for personal property. With a HO-3 insurance form, your insurance company will pay to repair or replace belongings damaged by 16 covered perils. These covered perils include fire, smoke, vandalism, lightning, windstorm, hail, explosions, falling objects, the weight of ice, sleet and snow on your house and water damage.

HO-6 This home insurance form is for condominium units. This type of coverage is typically “walls-in” coverage and it protects the condo unit’s walls, ceilings and floors from 16 covered perils. This insurance form also includes coverage for the condo owner’s personal belongings.

HO-8 This type of insurance form is for older homes and covers 10 perils. This home insurance form is paid on an actual cash value, which is the cost of the house items minus depreciation.

What factors affect rates on homeowners insurance in Arkansas?

A number of factors come into play when it comes to determining a home insurance rate. For example, the construction materials your home is made of is a big factor. Some other things are how much it will cost to rebuild the house and replace all your personal belongings. Whether you own a swimming pool or a trampoline are factors as well. Are you a pet owner? You’re liable for dog bites and injuries caused by your dog. This is a factor in your home insurance. Your credit also plays a role. If you have good or excellent credit, you’ll have a lower home insurance rate. If you have poor credit, you’ll rate at a higher cost but can work on improving your credit score to lower your rate.

Top 5 Disasters in the State of Arkansas

Arkansas federally declared Severe Storms as the most common type of disaster with 28 counts since 1953, followed by Flood, Tornado, Severe Ice Storm, and Hurricane. Here are the top 5 federally declared disasters in the state of Arkansas:

Rank Declaration Title Disaster Number
1 Severe Storms 28
2 Flood 20
3 Tornado 17
4 Severe Ice Storm 6
5 Hurricane 3

Source: Federal Emergency Management Agency (FEMA)

How much is homeowners insurance in Arkansas?

Homeowners insurance in Arkansas costs $1,091 per year.

Source: The average cost of homeowners insurance by state, Business Insider.

Crime Rate: Is Arkansas a safe state?

2019 Crime in Arkansas Crime Number Crime Rate*
Property Crime 86,250 2,858.0
Burglary 18,095 599.6
Larceny-Theft 60,735 2,012.6

*Rate per 100,000 inhabitants

Safest Cities in Arkansas by Property Crime*

  • Bella Vista, AR has a population of 28,931 with a Property Crime rate of 6.5 per 1k. The city average home value is approximately $202,209.
  • Centerton, AR has a population of 16,542 with a Property Crime rate of 8.4 per 1k. The average home value there is about $207,679.
  • Bentonville, AR came in third as the safest city in the state of Arkansas and has a population of 53,434 with a Property Crime rate of 13.7 per 1k. Its home value averaged at about $271,378.
  • Cabot, AR has a population of 26,875 with a Property Crime rate of 13.8 per 1k. Its average home value is $156,240.
  • Maumelle, AR has a population of 18,223 with a Property Crime rate of 16.5 per 1k. The city home value averaged $220,639.

*Based on FBI Uniform Crime Reporting 2019, some cities have been eliminated because of changes in the state/local agency's reporting practices and cities with populations under 10,000. Zillow’s State/Cities average home value for a single family home or a condo as of Sept. 2020.

Compare Home Insurance Rates in Arkansas

Top homeowners insurance companies in Arkansas

Auto-Owners offers a number of optional coverages that homeowners might like to add to their policies, including identity theft protection. Multi-policy discounts are available and so is a green discount for going paperless. There is also a discount for having a backup generator.

Metropolitan Insurance lets you choose different packages of home insurance policies. With multiple packages available, you only pay for the coverage you need. Certain employer discounts are available and you save when you bundle your home insurance policy with another insurance policy such as auto insurance.

Republic Underwriters Insurance Company offers multiple discounts for homeowners, which help to lower home insurance premiums. The company prides itself on in-person service. So if you prefer one-on-one customer service, this is the insurance company for you.

Arkansas Home Insurance FAQs

Does geico offer home insurance in AR?

Yes, Geico offers home insurance policies in Arkansas.

Does home insurance cover wind and hail in Arkansas?

Yes, a home insurance policy typically covers wind, hail and storm damage.

What do I need when buying homeowner insurance for the first-time?

To get a homeowners insurance quote, you’ll need to provide your name, date of birth, Social Security number as well as the address of the home you wish to insure.

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