Renters Insurance

Who Has The Cheapest Renters Insurance Quotes in Arkansas?

Who Has The Cheapest Renters Insurance Quotes in Arkansas?

Renters insurance is an affordable investment that only costs a few dollars per month, but it can save you thousands if you experience a loss. We reviewed the top insurers in Arkansas to find the best options in the state.

Compare Renters Insurance Quotes from Providers in Arkansas

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We found rates as low as $20 per month for renters insurance. Read on for our top pick, plus other options we like.


Best for most renters

Nationwide logo
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Best customer service

State Farm logo
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Best for low coverage amounts

Liberty Mutual logo
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Methodology

Best renters insurance for most people: Nationwide

Nationwide has the best rates in Arkansas and plenty of coverage options.
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Read the full review.

The good:

  • Great prices
  • Lots of coverage options

The bad:

  • OK (not great) customer service

Nationwide is the best renters insurance company for most people in Arkansas. It had the cheapest rates overall and a great selection of coverage options.

The typical price for renters insurance from Nationwide was $20 per month. That's the lowest we found across the insurers we checked, and it's 34% cheaper than the average rate statewide. It's about $1 cheaper than State Farm per month.

Nationwide has an impressive selection of coverage options, too. In addition to commonly available add-ons, such as identity theft protection and valuables coverage, it also offers water-backup coverage and replacement-cost coverage, which aren't as common.

The only (minor) drawback to Nationwide is its imperfect customer service. It has a J.D. Power survey rating of 2/5, which is below the national average. It received a Complaint Index of 0.48 from the National Association of Insurance Commissioners, meaning it has received 48% as many complaints as a typical insurer of its size. While that's better than average on a national level, it's not as strong as our customer service pick, State Farm.

Best customer service: State Farm

State Farm has the best customer service among Arkansas renters insurers.
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Read our full review of State Farm insurance.

The good:

  • Well-liked customer service
  • Affordable rates

The bad:

  • Not many optional coverage selections
  • Inconsistent prices across the state

For renters who prize strong customer service, we recommend State Farm. It had the best customer satisfaction ratings of any insurer we looked at, along with great monthly rates.

The typical price for renters insurance at State Farm is $21 per month, which is the second-cheapest price we found, and 31% less than the statewide average rate.

However, it's worth noting that State Farm's rates were very inconsistent across the state. In some cities, rates were as low as $13 per month — the cheapest price by far from any insurer. But in others, prices were as high as $27.

Customer service from State Farm is strong. It has a 5/5 rating from J.D. Power, indicating customers tend to be happy with the service. The company also received a 0.38 Complaint Index from the NAIC, meaning it received only 38% as many complaints as a typical insurer of the same size.

The downside to State Farm is that it doesn't have many coverage options. While not every renter needs a lot of extras, it's nice to have the option. If you want replacement-cost coverage or identity theft protection, you'll need to look elsewhere.

Best for low coverage amounts: Liberty Mutual

You can save money by getting a lower-limit policy at Liberty Mutual.
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Read the full review.

The good:

  • Low minimum coverage limits

The bad:

  • Mediocre service

For students or young renters who don't have a lot of stuff and therefore need less coverage, we recommend Liberty Mutual. It offers low minimum coverage limits, which can help reduce your costs.

You can buy a policy with limits as low as $5,000 from Liberty Mutual, while other companies we looked at mostly fell in the $10,000–$15,000 range. The amount of coverage you buy is one of the key factors that impacts your rates, so by lowering your coverage limit, you can save money on your premium. However, we always recommend buying enough coverage for all your belongings. Otherwise, you won't be fully reimbursed if your home is destroyed.

We didn't collect quotes for minimum coverage levels, but we found prices at Liberty Mutual to be about average, at $30 per month statewide.

Unfortunately, we were disappointed by Liberty Mutual's mediocre customer service. It received a 2/5 in J.D. Power's renters insurance satisfaction survey, as well as a 0.57 Complaint Index from the NAIC. While that's lower (and better) than the national average score of 1.00, it's the worst score among all the insurers we looked at in Arkansas.

How we chose the best renters insurance companies in Arkansas

When evaluating the best renters insurance companies in Arkansas, we considered three main factors: affordability, coverage options and customer service.

  • Affordability: Does the company offer competitive prices for coverage?
  • Coverage options: Does the company have a wide selection of useful coverage options?
  • Customer service: Are customers generally satisfied with the service they receive?

Affordability: Finding cheap renters insurance in Arkansas

We found a wide range of prices for renters insurance in Arkansas. While the average price was $30 per month, the cheapest option, Nationwide, was 64% cheaper than the most expensive option, Farmers. Switching between those two insurers would save you $420 per year.

See our full breakdown of the cheapest renters insurance companies below.

Bar chart comparing the most affordable options for renters insurance in Arkansas

Bar chart comparing the most affordable options for renters insurance in Arkansas

Compare Renters Insurance Quotes from Providers in Arkansas

Currently insured?
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Insurer
Average cost
% difference from average
Average$30--
Nationwide$20-18%
State Farm$21-14%
Allstate$240%
Liberty Mutual$3024%
Farmers$55127%
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Our selected levels of coverage were:

  • Personal property coverage: $30,000
  • Liability coverage: $100,000
  • Medical payments coverage: $1,000
  • Deductible: $500
  • Loss of use: $0

Coverage options: Comparing renters insurance policies and benefits

Every renter has their own set of coverage needs, so when we evaluated renters insurance companies, we looked for useful coverage options.

Here are just a few beneficial options to look for:

  • Replacement-cost coverage: Pays for the full cost of replacing destroyed or stolen property, without factoring in depreciation.
  • Valuable-items coverage: Boosts coverage for expensive items such as jewelry or musical instruments, which may not be fully covered under a normal policy.
  • Identity theft coverage: Pays for costs associated with having your identity stolen, such as legal fees or lost wages.
  • Personal property coverage: Pays to repair or replace property that's been stolen, damaged or destroyed due to a covered peril.
  • Additional living expenses: Pays for a temporary living expense, such as a hotel room, if your home is uninhabitable due to a covered peril.
  • Liability coverage: Pays for damages you owe others; for example, if your dog injures someone.
  • Medical payments coverage: Pays for medical treatment of others for injuries they receive while at your home, regardless of who is at fault. Pays out before liability coverage.

Customer service: Evaluating insurer quality in service and claims

Strong customer service from your renters insurance company is essential, especially while you're making a claim. Insurers with good customer service will answer your questions throughout the process and make sure you're compensated quickly and fairly after you've filed.

To evaluate service quality, we use three key metrics: the NAIC Complaint Index, J.D. Power's consumer satisfaction survey for renters insurance, and A.M. Best's Financial Strength Ratings.

Insurer
NAIC Complaint Index
J.D. Power rating
A.M. Best FSR
State Farm0.385/5A++
Allstate0.512/5A+
Farmers0.372/5A
Liberty Mutual0.572/5A
Nationwide0.482/5A+
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  • NAIC Complaint Index: This number compares the size of an insurance company with the number of complaints it's received. A lower score indicates fewer complaints and suggests customers are more likely to be satisfied with their insurer. The national average score is 1.00.
  • J.D. Power ratings: This rating out of five is based on a national survey that asks renters how they feel about their renters insurance companies. A higher score is better.
  • A.M. Best FSR: This letter grade describes the overall financial health of an insurer. Grades range from A++ to D, and a higher grade means the company is better able to pay out claims, even during times of high claim demand (like after a disaster) or economic downturn.

Arkansas renters insurance: Costs by city

One major factor that determines how much you pay for renters insurance is where you live. A city that experiences a lot of natural disasters, such as tornadoes and flooding, might have higher renters insurance costs. A city with fewer natural disasters or a low crime rate might have lower rates.

See our full breakdown of renters insurance costs across the state of Arkansas.

City
Average cost
% difference from average
State average$30--
Fayetteville$26-12%
Fort Smith$28-7%
Springdale$26-12%
Rogers$26-14%
Bentonville$26-14%
Hot Springs$28-8%
Van Buren$27-9%
Siloam Springs$26-13%
Jonesboro$314%
Conway$29-2%
Paragould$313%
Show All Rows
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Read our national study of renters insurance costs.

Methodology

To find the best prices for renters insurance in Arkansas, we researched quotes from five top insurers in 25 of the largest cities in the state. All of our quotes were for a single 30-year-old man who lives alone. He's protected himself with $30,000 of personal property coverage with a $500 deductible and $500,000 of liability protection.

Matt is a Technical Writer at ValuePenguin who works on distilling the complex details of insurance into accessible advice. He previously created educational content at Grovo Learning and MarketSmiths Content Strategists. Matt's consumer-focused analysis of insurance has appeared in publications like CNBC, Yahoo Finance and the Miami Herald.

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.