The Cheapest Renters Insurance in Arkansas (2024)
State Farm has the cheapest renters insurance in Arkansas, at $17 per month on average.
Compare Cheap Renters Insurance Quotes in Arkansas
Best Cheap Renters Insurance in AR
ValuePenguin editors found the best cheap renters insurance companies in Arkansas by looking at rates, customer satisfaction, coverage options and discounts.
Our experts calculated average renters insurance rates by gathering quotes from eight top companies across 25 major Arkansas cities.
Cheapest renters insurance companies in Arkansas
State Farm has the cheapest renters insurance in Arkansas, at $15 per month for $30,000 of property coverage.
That makes it less than half the price of the state average.
Lemonade also offers affordable rates, at $19 per month. The average price of renters insurance in Arkansas is $35 per month.
Compare Cheap Renters Insurance Quotes in Arkansas
Renters insurance is very expensive in Arkansas. Rates in Arkansas are 55% higher than the national average, making it the second-most expensive state in the country. Only Louisiana renters insurance costs more.
Cheapest renters insurance companies in Arkansas
Company | Monthly cost | ||
|---|---|---|---|
| State Farm | $17 | |
| Lemonade | $19 | |
| Amica | $33 | |
| Assurant | $37 | |
| Allstate | $40 | |
Best renters insurance in Arkansas for most people: State Farm
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Editor's rating
- Cost: $17/mo
State Farm has the best prices for renters insurance in Arkansas, plus good coverage options.
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Best prices in AR
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Good coverage options
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Great for bundling with car insurance
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Few discounts
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Average customer service
State Farm has the lowest rates for renters insurance in Arkansas, at just $17 per month for $30,000 of property coverage. That's 51% cheaper than the average statewide.
State Farm doesn't offer very many discounts, but it does have a useful renters-auto bundling discount.
Pairing your renters and auto insurance is one of the best ways to lower what you pay for both. State Farm is also the cheapest car insurance company in Arkansas. [/border]
Customer service from State Farm is about average. It gets slightly more complaints than a typical company, but performed a little better than average in J.D. Power's renters insurance customer survey.
The range of coverage options you can find at State Farm is very strong. You can add water backup coverage, extended coverage for valuable items, and replacement cost coverage , among others.
[/toggle][/cta-banner]Best online experience for renters: Lemonade
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Editor's rating
- Cost: $19/mo
Lemonade has the best app and online experience, alongside great rates and coverage options.
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Easy online shopping experience
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Cheap quotes
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Many extra coverage options
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Few discounts
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Poorly-rated customer service
Lemonade has an easy-to-use app and quick online signup, making it easy to buy and manage your renters insurance.
Having an app that works well makes dealing with insurance much less painful.
However, Lemonade's customer service has mixed reviews. While it got an above-average rating in a customer survey run by J.D. Power, Lemonade has more than three times as many complaints as an average insurer, especially after filing an insurance claim. This suggests you might have trouble getting a timely payout if you ever need to make a claim with Lemonade.
Lemonade insurance rates are cheaper than average in Arkansas, at $19 per month. That's the second-cheapest option in the state, behind State Farm.
Lemonade has great coverage options. It offers water protection for water backup protection and appliance breakdown coverage, among others.
All Lemonade renters insurance policies provide replacement cost coverage, too. This means you'll get back the full amount you need to replace a damaged or stolen item, without considering depreciation.
Best customer service in Arkansas: Amica
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Editor's rating
- Average cost: $33/mo
Amica is the best choice for Nevada renters looking for great customer service.
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Top-rated customer service
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Lots of discounts
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Rates are average
Amica has the best customer service of any renters insurance company in Arkansas.
The quality of service offered by your insurer is important. If you ever have to file a claim, good customer service helps simplify what can be an unpleasant process.
Amica has very few complaints compared to other companies of a similar size, according to the NAIC The National Association of Insurance Commissioners gathers complaints from state insurance departments and compares how many each company receives.[/toolip]. That means renters are generally happy with their interactions with Amica.
Prices at Amica are about average in Arkansas, at $33 per month. However, that's almost twice as much as at State Farm and Lemonade, and 43% more than the .
However, Amica does offer a generous range of discounts that could help you bring your rates down.
Amica renters insurance discounts
- Automatic payment discount
- Claim-free discount
- Loyalty discount
- Multipolicy discount
- Paperless discount
Arkansas renters insurance: Costs by city
Fayetteville has the lowest renters insurance rates among Arkansas' major cities, with an average of $28 per month for coverage.
That's 20% cheaper than the state average.
The most expensive city is Pine Bluff, just south of Little Rock. There, the average price is $43 per month, 25% more than average.
Where you live often influences your rates, with factors such as natural disasters, like tornadoes and flooding, or high crime rates raising prices.
City | Monthly rate | % from average |
|---|---|---|
| Bella Vista | $31 | -10% |
| Benton | $34 | -1% |
| Bentonville | $29 | -15% |
| Bryant | $34 | -1% |
| Cabot | $34 | -1% |
Natural disasters in Arkansas
Tornadoes and floods are the most common disasters in Arkansas.
Damage to your home caused by wind is almost always covered by renters insurance, while damage from flooding usually isn't.
Is tornado damage covered by renters insurance in Arkansas?
Yes, tornado damage is usually covered by renters insurance. Wind is covered by homeowners insurance whether it's a tornado, a tropical storm or simply a strong wind.
Arkansas gets hundreds of tornadoes each year, but fortunately your renters insurance policy will cover wind damage to your stuff no matter where it is. If a window breaks and damages your television or living room furniture, that's covered. So is damage to things outside your home, like if your grill was outside in your backyard at the time of the storm.
Keep in mind that your renters insurance doesn't cover wind damage to the structure of your home, or your car. Tornado damage to your vehicle is covered under your comprehensive insurance, if you carry it.
And unlike homeowners insurance, your renters insurance policy only covers your stuff — not your roof, windows or walls. It's your landlord's responsibility to protect your home's structure, and pay to fix wind damage, if it occurs.
Does renters insurance cover flooding in Arkansas?
No, flood damage isn't covered by regular renters insurance.
Some renters insurance companies may offer an optional flood add-on for your policy, or sell separate flood insurance backed by the National Flood Insurance Program, but a basic renter insurance policy won't cover rainwater that got into your home.
If you live in a rented house or in a first-floor apartment that's in a high-risk flood zone , you should look into buying a flood insurance policy. This is especially true if you live near a big river like the Mississippi or Arkansas River.
Tip: Keep in mind that insurance companies think of "flooding due to rain" and "flooding due to plumbing" as separate issues. Many renters insurance companies sell policies that cover water backup, but those won't help you if the flooding is from a rainstorm.
Tips for getting cheap renters insurance in Arkansas
Comparing quotes, using discounts and matching your coverage needs are the best ways to save on renters insurance.
Add up the value of your belongings to find out how much coverage you need. The total value of your personal belongings is the dollar amount of personal property coverage you should buy. That way you'll be fully reimbursed should the worst happen and you lose all your stuff.
At the same time, you don't want to buy too much coverage; if you have $40,000 of coverage but only $30,000 of belongings, your insurer will only pay you up to $30,000, and you'll pay more than you need to for insurance.
You can save hundreds of dollars per year by comparing quotes from several companies. The most expensive renters insurance company in Arkansas, Progressive, costs $396 per year more than the cheapest company, Lemonade, for the same level of coverage. That's a 3x increase for the more expensive company.
It's crucial to compare quotes each year because rates can change over time. The cheapest company when you first bought your policy a year ago might not have the best rates now.
Most Arkansas renters insurance companies offer discounts to help you save.
It's important to consider which discounts you might qualify for when comparing quotes. You might be able to save even more by qualifying for discounts.
The best renters insurance discount is bundling your policy with another kind of insurance, like car or pet insurance. Insurance companies will give you a discount if you get both — like buying in bulk.
Common renters insurance discounts in Arkansas
- Renters-auto bundling
- Claims free discount
- Automatic payments
- Pay in full
- Loyalty
- Home protection device
Frequently asked questions
How much is renters insurance in Arkansas?
The average price of renters insurance in Arkansas is $35 per month. That's the second-highest rates in the country and 55% higher than the national average.
What is the best renters insurance in Arkansas?
State Farm is our top recommendation for renters insurance in Arkansas. It offers the cheapest average rate, $17 per month, along with good coverage options.
Is renters insurance required in Arkansas?
Renters insurance is never required by law. Your landlord, however, might require you to maintain a policy.
Methodology
ValuePenguin collected more than 150 quotes from across 25 major Arkansas cities for a single 30-year-old woman who has never filed a renters insurance claims. Coverage limits include:
- $30,000 of personal property coverage
- $9,000 for loss of use
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
Customer service ratings were created using cost data, information from the National Association of Insurance Commissioners (NAIC) complaint index scores and J.D. Power's 2023 renters insurance customer satisfaction study rankings.
These rates should be used for comparative purposes only. Your quotes will likely differ.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.