Arkansas Auto Insurance Requirements
When purchasing an automobile in Arkansas, it is important to have a good understanding of the auto insurance requirements you must adhere to. Your auto insurance policy in AR must feature minimum liability coverage for the following:
$25,000 for bodily injury liability for a single person within an accident
$50,000 for all injuries resulting from an accident as well as
$25,000 for any property damage that results from an accident.
When obtaining insurance in Arkansas, always make sure you are carrying the minimum amount of insurance required by law, as there can be serious repercussions if you are found to be operating a motor vehicle without the minimum insurance coverage.
Arkansas Auto Insurance Laws
Always keep in mind that it is against the law in Arkansas to operate a vehicle if you do not have minimum liability coverage on that vehicle. All motor vehicles registered in the state of Arkansas are registered through that state for the purposes of maintaining liability insurance, which is required by law in Arkansas. The minimum liability insurance coverage in the state of Arkansas is 25/50/25. You must have at least this much insurance coverage on each vehicle that you operate. If you allow your insurance to lapse and you are found to be driving a motor vehicle without insurance, under Arkansas law you may be subject to having your driver license suspended. You may also be subject to fines.
Arkansas Auto Insurance Coverage
In the state of Arkansas, motorists are not required to have Uninsured/Underinsured Motorist Coverage. While this is not required, many insurance companies in the state of Arkansas do recommend that motorists take out this additional protection. The purpose of such additional coverage is that it offers an extra layer of protection as well as financial assistance in the event of an accident that might involve a motorist that is either underinsured or uninsured. While state law does not require it, you may also wish to consider comprehensive and collision coverage. This type of insurance coverage will pay for any damages that result from storms or other types of natural disasters. If your vehicle is financed through a bank, your lender may require that you carry comprehensive and collision coverage on your vehicle while you still owe a note on it.
Cheap Arkansas Auto Insurance Quotes
There are many different ways consumers can obtain insurance quotes for auto insurance in the state of Arkansas. Today the fastest and easiest way to obtain cheap Arkansas auto insurance quotes is by going online. Many insurance companies today will now even provide consumers with free online insurance quotes.
Arkansas Auto Insurance Ratings
When shopping for Arkansas auto insurance, it is extremely important to shop around and make sure that you comparison shop. By shopping around you will be able to compare the various quotes offered by different insurance companies as well as comparing the ratings of different insurance companies. Do not make the mistake of simply going with the lowest quote you receive for auto insurance. While a low insurance quote is important, particularly if you are on a budget, it is also important to educate yourself about the company offering the quote. Comparing ratings will allow you to do this. Reviewing FSR or Financial Strength Ratings for insurance companies can give you an idea of the ability of an insurance company to meet obligations of its policies and contracts. FSR ratings are typically based on an evaluation of the strength of an insurance company’s balance sheet as well as their business profile and operating performance.
Arkansas Auto Insurance Rates
The average auto insurance premium in Arkansas is currently around $1075. This is slightly higher than it has been in recent months. Keep in mind that auto insurance rates can vary from consumer to consumer based on a variety of different factors including the driving record of the person insured and the type of vehicle that is being insured. Insurance companies in Arkansas may also use your personal credit history to assist in determining insurance rates. The best way to find out the type of rate you can receive on your next auto insurance purchase is to go online and request a free online quote. When requesting a quote for auto insurance, be sure to ask whether there are any discounts offered that can help in lowering your insurance premium.
Arkansas Auto Insurance Companies
When shopping around for a new auto insurance company in Arkansas, remember that there are several important factors to keep in mind. Naturally, you want to find an auto insurance company that offers low rates, but you should also look for a company that has a good reputation. Check with the Better Business Bureau to find out whether there have been any complaints filed about that company. It is also important to take the time to find out what type of customer service the company offers. If you should need to file a claim in the future, you want to work with a company that will handle it quickly and efficiently. Furthermore, look for an auto insurance company that may be able to offer you discounts on your auto insurance. Some companies will provide discounts if you combine your auto insurance and homeowner’s insurance or if you have special features on your vehicle. These types of discounts can help to save you a lot of money over the course of the year.