Best Cheap Insurance Quotes for Used Cars in Arkansas

When writing about shopping for auto insurance, the words cheap or affordable shouldn’t be used anywhere in the article as a descriptor for car insurance rates. Regardless, cheap auto insurance for used cars is not always easy to find. But don’t despair, because we can show you some ways you can still find insurance that fits into your budget.

The vehicle you are trying to insure is one of the largest factors when quoting cheaper coverage for used cars. Vehicles with more horsepower, a lack of advanced safety features, or high incidents of liability claims will cost more to insure than safer, lower-performance models.

The table below estimates insurance rates for some of the cheaper vehicles to buy coverage for.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arkansas minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Rate quotes do not factor in your specific Arkansas location which can modify coverage prices greatly.

Looking at the numbers, we can infer that models like the Honda Accord, Ford Escape, Toyota Prius, and Chevrolet Traverse are most likely going to be some of the most affordable vehicles to insure for pre-owned vehicles.

Finding decent, budget car insurance is easier said than done, and finding out which companies quote the most affordable insurance rates for used cars requires additional perseverance. Each insurer has a proprietary method for setting rates, so let’s rank the most competitive insurance companies in Arkansas.

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USAA quotes some of the best car insurance rates in Arkansas at around $1,021 annually. Auto Club, Travelers, Southern Farm Bureau, and State Farm also rank well as some of the cheapest Arkansas auto insurance companies.

In the above example, if you are insured with Travelers and switched to USAA, you could realize annual savings of in the neighborhood of $83. Customers with Southern Farm Bureau may save as much as $156 a year, and State Farm insureds might cut rates by $227 a year.

These prices are averaged for all insureds and vehicles and do not factor in a rate discount for used cars. So the auto insurance company that can offer the best rates for your situation may not even be included in the list of companies above. That’s why you need to compare as many prices as possible using your own driver data and vehicle information.

Discounts on the best cheap insurance for used cars in Arkansas

Insurance companies that sell policies for used cars may also give you discounts that could potentially reduce rates by 35% or more if you meet specific criteria. Larger insurance companies and their offered discounts can be found below.

• State Farm may include discounts for student away at school, good driver, accident-free, anti-theft, defensive driving training, passive restraint, and driver’s education.
• American Family offers discounts including TimeAway discount, good driver, bundled insurance, mySafetyValet, multi-vehicle, good student, and early bird.
• GEICO has discounts for multi-policy, anti-lock brakes, five-year accident-free, emergency military deployment, and daytime running lights.
• 21st Century has savings for homeowners, air bags, driver training, student driver, and good student.
• Progressive includes discounts for online signing, multi-policy, good student, homeowner, and multi-vehicle.

The example below illustrates the comparison of annual premium costs with and without policy discounts. The premiums assume a male driver, no claims, a clean driving record, Arkansas state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.

The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with accident-free, claim-free, marriage, homeowner, vehicle safety, and passive restraint discounts applied. When discounts are applied, the the average yearly reduction on insurance for used cars is 28% or $396.

Allstate, Geico, Progressive, or State Farm: Which is best?

When shopping around for auto insurance for pre-owned vehicles in Arkansas, the companies that insure more vehicles than anyone else are Allstate, Geico, Progressive, and State Farm. They all offer different options that shoppers can select from. The next table compares and contrasts ratings for price, service, and claims, in additional to some of the optional coverages that are available for policyholders.

Who has the cheapest insurance quotes for pre-owned vehicles?

Drivers have many ways to find affordable insurance in Arkansas, but the most common are through an independent insurance agent, an exclusive insurance agent like State Farm or Allstate, or direct from companies such as Progressive or Geico.

They all have the same end result, but shoppers should understand the differences in how they function.

Independent insurance agents write for multiple companies and can get rate quotes from all of them. They do not sell for just one brand and can get prices from more than one company, which can give you better odds of saving money. If your agent finds a cheaper company, they simply switch companies in-house which makes it easier to save money.

A captive, or exclusive, agent is only able to write business for one company like Farmers Insurance or State Farm agents. Exclusive agents normally do not have the ability to quote prices from more than a single company, so if prices are high they cannot provide alternatives.

Direct insurance buyers forego either of the other two types of agents and instead shop from a direct company like Progressive or Esurance. Shopping direct may be a decent choice people who have fewer assets and have a good understanding of how their policy works.

Which way works best for finding the best cheap insurance for used cars in Arkansas? It would be premature to say buying from a direct company results in the best prices because there is no agent taking a commission, but that does not always hold true. It could also be said an independent agency is the best way because they can shop around, but again, that’s not accurate. In some circumstances, exclusive agents have very competitive rates that are well below what direct and independents offer.

Due to that fact that insurance uses so many rating variables, the only real way to buy the cheapest coverage is to obtain price quotes and compare them. To find the best rates, be sure to get price quotes from all three to have enough rates to compare. For a list of companies offering online discounts in Arkansas, click here to view.