Best Cheap Car Insurance Quotes for Inexperienced Drivers in Arkansas

The words “economical” and “auto insurance” really shouldn’t be used together, especially when searching for the cheapest car insurance for inexperienced drivers. In an attempt to save some money, let’s lead off by showing you a few of the factors that impact insurance premiums, and see how we can help you reduce the price of the next policy you buy.

The vehicle model to be insured is a large consideration when looking for cheaper car insurance for inexperienced drivers. Vehicles with economical engines, modern passenger safety features, or a track record of few liability claims will cost less to insure than higher performance models. The next list outlines car insurance premiums for the most affordable vehicles to insure.

Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arkansas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Premium amounts do not factor in Arkansas location which can decrease or increase price quotes substantially.

Based on these rates, you can figure that vehicles like the Hyundai Elantra, Subaru Forester, Ford Escape, Chevrolet Impala, and Dodge Grand Caravan are the most affordable vehicles to insure for new drivers.

Finding out which company quotes the lowest-priced insurance rates for inexperienced drivers involves a little more effort than just getting one or two price quotes. Each company has a unique approach for setting prices, so we need to take a look at the most competitive insurance companies in Arkansas.

Lowest Insurance Price Quotes for Newbies

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USAA quotes some of the cheapest car insurance rates in Arkansas at around $981 each year. Auto Club, Travelers, Southern Farm Bureau, and State Farm would also be considered some of the more affordable Arkansas auto insurance companies.

As the rates illustrate above, if you have coverage with Travelers and switched to USAA, you may see a yearly price reduction of roughly $145. Arkansas drivers with Southern Farm Bureau may save as much as $196 a year, and State Farm policyholders might lower prices by $280 a year.

These premiums are averages for all drivers and vehicles in Arkansas and do not take into consideration a price decrease for inexperienced drivers. So the car insurance company that has the cheapest price for you may not even be included in the list of companies above. That point stresses why you need to quote rates from many companies using your own driver and vehicle profiles.

One of the many factors that is looked at to determine the cost of insurance is your address in Arkansas. Regions with larger populations or more claims like El Dorado, Texarkana, and Hot Springs will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of the best cheap auto insurance for inexperienced drivers in Arkansas.

The illustration below ranks the highest-priced areas in Arkansas for inexperienced drivers to purchase auto insurance in.

Annual rates are comparative as the specific garaging location can modify premium rates greatly.

Full coverage or liability only

Finding the best cheap auto insurance for inexperienced drivers in Arkansas is probably important to most people, and one easy way to pay less for insurance is to only buy liability insurance. The example below shows the comparison of auto insurance rates with full physical damage coverage compared to only buying liability only. The information is based on no claims or driving violations, $500 deductibles, single status, and no discounts are applied to the premium.

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As an average for all age groups, physical damage insurance costs an extra $1,600 per year more than insuring for liability only. That brings up the question if it’s a good idea to buy full coverage. There is no definitive rule for eliminating physical damage insurance, but there is a general guideline. If the annual cost of having full coverage is more than 10% of the settlement you would receive from your company, then it could be time to drop full coverage.

There are some situations where buying only liability insurance is not a good idea. If you haven’t paid off your loan, you have to keep full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not buy liability only.

Which insurance company is best in Arkansas?

Choosing the right insurance provider can be rather challenging considering how many different companies there are to choose from in Arkansas. The information shown below can help you decide which car insurance providers to look at when insurance shopping for inexperienced drivers.

The rankings below are for companies that write coverage in many states, so companies that only write business in Arkansas or surrounding areas are not taken into consideration for this list. To get rate quotes from these top insurers and more, simply click here.

Top 10 Large Auto Insurers in Arkansas Ranked by A.M. Best Rating

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Esurance – A+
6. Progressive – A+
7. The Hartford – A+
8. Allstate – A+
9. Nationwide – A+
10. The General – A-

Geico, State Farm, Progressive, and Allstate compared

If you’re looking for the best car insurance for new drivers, four companies you’ll want quotes from are Geico, State Farm, Progressive, and Allstate. When combined, they insure about 50% of all car insurance policies in America. The table below compares and contrasts some of the different options and features that you can purchase from each one.