Car insurance rates in Arkansas may be among the highest nationwide, but that doesn’t make finding affordable coverage impossible. There are various factors that influence car insurance costs here including driving record, credit score, age and location that all can influence premium costs; using MoneyGeek’s car insurance calculator can help you determine how much these might be and make the right decision based on what works for your needs.
Age is one of the primary factors insurers use when setting premiums. Young drivers, specifically those under 25, tend to pay higher premiums due to a lack of experience behind the wheel and due to being more likely to get into accidents and file claims than adults; both factors leading to significantly higher average car insurance rates for teens in Arkansas and nationwide.
Your car’s type can have an immense effect on its insurance rates in Arkansas. Sports cars and other luxury vehicles typically command higher insurance premiums due to factors like value, engine size and theft potential that are all considered when calculating risk to an insurer. Furthermore, having poor credit puts companies under more strain resulting in higher premiums than for those with better scores.
Liability insurance plays an integral part of car insurance rates in Arkansas. Liability covers any harm you cause to others or their property, and is required by state law. Full coverage auto policies provide both property and bodily injury protection in case another driver sues over an incident you caused.
Your ZIP code can play an instrumental role in determining car insurance rates in Arkansas. Insurance providers use this data to assess risk in each location, with lower-risk areas usually receiving reduced premiums than more hazardous neighborhoods.
An Arkansas and nationwide DUI conviction can drastically raise your insurance rates. Insurance companies view DUI convictions as indicators of future risks and can increase them up to 60%; you will then become considered a high-risk driver, so work on clearing your driving record immediately following your conviction.
Your Arkansas car insurance savings start with getting multiple quotes and choosing an appropriate policy with appropriate limits and coverages. Bundling home and car insurance with one company could also give you discounts. Furthermore, it is a good idea to compare quotes at least annually as prices can change over time; just enter your ZIP code here and select what options pertain most.