Who Has Cheap Car Insurance for High Risk Drivers in Arkansas?

Who Has Cheap Car Insurance for High Risk Drivers in Arkansas?

Because the topic is car insurance, the word “cheap” shouldn’t be used anywhere in the article to describe car insurance prices. Be that as it may, cheap car insurance for high risk drivers can seem impossible to find. But don’t let us ruin your dream, because we are going to tell you how you can find coverage that is cheaper than your current policy.

For Arkansas drivers, one of the components used to calculate the cost of insurance is where you call home in Arkansas. Areas with high crime rates or more dense population like Little Rock, Texarkana, and Hot Springs tend to have higher rates, whereas more rural areas tend to receive cheaper rates.

The illustration below sorts the higher priced cities in Arkansas for high risk drivers to buy an auto insurance policy in.

Car insurance prices in Arkansas
Rank City Annual Premium
1 Little Rock $1,533
2 El Dorado $1,527
3 Texarkana $1,492
4 West Memphis $1,477
5 Hot Springs $1,472
6 Bryant $1,457
7 Benton $1,444
8 Pine Bluff $1,430
9 North Little Rock $1,429
10 Cabot $1,425
11 Sherwood $1,419
12 Maumelle $1,410
13 Jacksonville $1,393
14 Jonesboro $1,368
15 Searcy $1,367
16 Conway $1,366
17 Paragould $1,344
18 Russellville $1,342
19 Fayetteville $1,316
20 Van Buren $1,308
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Annual rates are comparative as specific Arkansas zip code can modify rates considerably.

Figuring out which company quotes the cheapest car insurance rates for high risk drivers will take a bit more work than just getting one or two price quotes. Each company uses a different method to establish rates, so to begin we’ll rank the most competitive car insurance companies in Arkansas.

Keep in mind that Arkansas car insurance rates are impacted by many factors which can significantly increase or decrease the cost of a policy. Simply getting older, buying higher coverage limits, or having a fender bender can trigger price changes resulting in some rates now being cheaper in comparison to the competition.

Best Cheap Insurance Rates for Risky Drivers

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Rankings for the cheapest Arkansas auto insurance companies
Rank Company Cost Per Year
1 USAA $1,011
2 Auto Club $1,015
3 Travelers $1,093
4 Southern Farm Bureau $1,177
5 State Farm $1,211
6 Safeco $1,265
7 Columbia Insurance $1,298
8 Farmers $1,303
9 State Auto $1,336
10 Cameron Mutual $1,369
11 Auto-Owners $1,373
12 Shelter $1,491
13 Progressive $1,578
14 GEICO $1,871
15 Liberty Mutual $2,142
16 Nationwide $2,155
17 MetLife $2,393
18 ALFA $2,504
19 Sentry $2,611
20 Home State $2,612
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USAA may offer some of the cheapest car insurance rates in Arkansas at around $1,011 a year. Auto Club, Travelers, Southern Farm Bureau, and State Farm would also make the list of some of the cheaper Arkansas insurance companies.

In this example, if you are insured with State Farm and switched to Auto Club, you could realize savings of around $196. Drivers with Safeco might save as much as $250 a year, and Columbia Insurance policyholders might see rate reductions of $283 a year.

If you want to find out if you’re overpaying, click here to start your custom quote or quote prices from the following companies.

These rates are averaged across all ages of drivers and types of vehicles and do not take into consideration a price surcharge for high risk drivers. So the insurer that can offer you the lowest price may not even be shown in the list of companies shown earlier. That’s why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.

Ending up with a high-quality insurer can be challenging considering how many different companies insure vehicles in Arkansas. The ranking information displayed below could help you select which auto insurers to look at when comparing rate quotes.

The ratings below are only comprised of companies that insure vehicles across America, so smaller regional companies are not taken into consideration for this list. To compare rates from these top-rated insurers and more, click this link.

Top 15 Car Insurance Companies for High Risk Drivers
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
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Data Source: Insure.com Best Car Insurance Companies

Full coverage rates compared to liability-only

Finding cheap auto insurance for high risk drivers in Arkansas is important to most drivers, and one of the easiest ways to find cheaper insurance is to not pay for full coverage. The chart below illustrates the comparison of auto insurance rates with and without physical damage coverage. The price estimates are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no other discounts are factored in.

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If the expense is averaged for all age categories, comp and collision coverage costs $1,600 per year more than just buying liability only. At some point, almost every driver questions if you should buy full coverage. There is no clear-cut formula for phasing out physical damage insurance, but there is a general guideline. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let’s pretend your vehicle’s replacement cost is $6,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $5,500 after the deductible is paid. If you are currently paying more than $550 annually for physical damage coverage, then it’s probably a good time to buy liability coverage only.

Find cheap auto insurance for high risk drivers in Arkansas

Lowering your rates is not difficult, and here are some thrifty solutions that can help Arkansas drivers buy the cheapest auto insurance.

  • Maintain a safe distance and avoid accidents
  • Speeding tickets and other violations increase rates
  • Buy vehicles with good safety ratings
  • Earn discounts for being claim-free
  • Better credit scores save money
  • Shop around once a year for cheaper rates

That final tip is very critical, as was affirmed in the prior article. Insurance prices in Arkansas change constantly, so drivers shouldn’t be resistant to change to a new company if a lower-cost policy is available. Many drivers tend to have loyalty to a certain company, but it’s not a great idea if that devotedness results in you overpaying a lot of money. In less than five minutes you could compare rates to find cheaper auto insurance for high risk drivers.

Who has the cheapest insurance quotes for high risk drivers?

Drivers have a lot of ways to get affordable car insurance quotes in Arkansas, but the most popular ways are through an independent insurance agent, a captive (or exclusive) agent such as Allstate or State Farm, or direct either online or via phone. They all follow the same basic process, but each is different in how they give price quotes.

Independent agents work for many companies and can get rate quotes from all of them. Independent agents are able to get prices from more than one company, which can help you get the best chance of saving money. If the agent locates a cheaper price, it’s easy for the agent to move the policy and that require little work on your part.

A captive or exclusive agent is restricted to a single insurance company, two examples are State Farm and Auto-Owners agents. Exclusive agents cannot provide rate quotes from other companies, which will not provide a complete price comparison.

Drivers who opt to buy car insurance direct skip either of the other two types of agents and instead buy direct from companies such as Geico or Esurance. Buying direct may be the best choice families who have limited assets and have a decent understanding of what car insurance covers and what it doesn’t.

Which way is best to buy cheap auto insurance for high risk drivers in Arkansas? We’d like to tell you buying from a direct car insurance company saves money since there is no need to pay agent commissions, but unfortunately, it’s not that cut and dried. We could also say that using an independent agent is the best way to go because you have more choices, but that assumption is not true either. In many cases, the exclusive agents have very competitive rates well below independent agents AND direct companies.

Since car insurance rates vary so much, the best way to get rock-bottom rates is to compare rate quotes from as many companies as possible. The ideal approach is to get price quotes from all three in order to find the best price. To see some of the cheapest online companies available, click here to view.