Arkansas Home Insurance

If you own a home in Arkansas, you may want to know more about the home insurance requirements, laws, policies, as well as average costs and best companies in the state. Here are some key points to consider:

- Home insurance is not required by law in Arkansas, but it may be required by your lender if you have a mortgage on your home.

- Home insurance typically covers damage or loss caused by fire, theft, vandalism, windstorms, hail, lightning, and other perils. However, it does not cover flood damage, which is a common risk in Arkansas due to its proximity to the Gulf of Mexico and the Mississippi River. You may need to purchase a separate flood insurance policy from the National Flood Insurance Program (NFIP) to protect your home from flooding.

- The average cost of home insurance in Arkansas was $1,373 per year in 2017, which was higher than the national average of $1,211. The cost of home insurance depends on various factors such as the location, size, age, and condition of your home, the amount of coverage and deductible you choose, and your credit score and claims history.

- The best home insurance company for you may depend on your personal preferences, needs, and budget. You may want to compare quotes from different companies and check their ratings, reviews, and customer service. Some of the largest and most popular home insurance companies in Arkansas are State Farm, Farm Bureau Mutual Insurance Co. of Arkansas, Shelter Insurance, Allstate Corp., and Farmers Insurance Group.

- Home insurance policies may vary in terms of their coverages, limits, exclusions, and endorsements. You should read your policy carefully and understand what it covers and what it does not. You should also review your policy periodically and update it if there are any changes in your situation or needs.