Arkansas Auto Insurance

Arkansas is a Torte state.  A driver who is sited as being at fault in an accident will be held responsible financially for he medical bills of any and all victims injured in the accident.  The victims may also sue the responsible driver for damages resulting form the accident such as pain, suffering, and lost wages.  It is recommended by the majority of the insurance companies in the state of Arkansas that you carry more than the mandatory minimum liability auto insurance.

Insurance companies may exclude persons in your household from coverage on your auto insurance policy if they are not specifically named on the application for insurance.  This is termed as “Household,” “Family,” or “Intro-Family” exclusion.  The insurance company may also use your credit history to determine your risk factors and set your insurance premiums.  They cannot however, set your insurance rates or deny you coverage based solely on your personal credit history.  The insurance company must notify you that they will be accessing your credit history as part of their evaluation procedure for acceptance and premium rates.

As of 2006, the average insurance premiums were in the range of $684.00 per year in the state of Arkansas.  Arkansas is ranked as having the 34th most expensive insurance premiums across the nation.  There are one hundred approved insurance providers in the state of Arkansas.  Of those companies, Dairyland Insurance Company has the highest premiums for all age groups.  In the age group of individuals 65 years of age and older, Farmers Insurance Company had the lowest premiums.  For policy holders age 40 to 65, the policies offered by Travelers Commercial Insurance Company were the lowest with the premiums from Farmers Insurance Company being only one dollar more.  In the 18 year old age group, American National General Insurance Company had the lowest rates.  These rates were for both male and female policy holders.

For the most part, the best rates are offered to males and females sixty five years of age or older, followed by the 40 to 65 year old age group.  Males and females in the 18 year old age group were the most expensive with the 18 year old males taking the top prize.  These numbers are based on liability insurance limits of $100,000.00 per person, $300,000.00 total personal injuries and $50,000.00 of property damage coverage.  It also included a comprehensive and collision coverage on a 2005 Toyota Camry LE, 3.0 Liter, four door automobile. 

The companies sanctioned to sell auto insurance in Arkansas are 1st Auto & Casualty Insurance Company, AIG Casualty Company, AIG Centinnial Insurance Company, AIG Indemnity Insurance Company, AIG National Insurance Company, Allmerica Financial Benefit Insurance Company, Allstate Property & Casualty Insurance Company, American Fire & Casualty, American Home Assurance Company, American International Insurance Company, American National Property and Casualty Insruance Company, American National General Insurance Company, American National Property and Casualty Company, Amica Mutual Insurance Company, Armed Forces Insurance Exchange, Auto Club Family Insurance Company, Auto Owners Insurance Company, Automobile Club International Insurance Exchange, Beacon Insurance Company, Bristol West Insurance Company, Cameron Mutual Insurance Company, Cameron National Insurance Company, Columbia Mutual Insurance Company, CONSUMERS INSURANCE, Cornerstone National Insurance Company, Dairyland Insurance Company, Direct Insurance Company, Direct National Insurance Company, Economy Premier Assurance Company (EPIC), Electric Insurance Company, EMCASCO Insurance Company, Employers Mutual Casualty, Encompass Insurance Company of America, Farmers Insurance Company, Fidelity National Property and Casualty Insurance Company, First National Company of America, Garrison Property & Casualty Insurance Company, GEICO Casualty Company, GEICO General Insurance Company, GEICO Indemnity Company, Government Employees Insurance Company, Grain Dealers Mutual Insurance Company, Granite State Insurance Company, Hanover American Insurance Company, Hanover Insurance Company, Hartford Accident and Indemnity Company, Horace Mann Insurance Company, Horace Mann Property & Casualty Insurance Company, IDS Property Casualty Insurance Company, Liberty Insurance Corporation, Liberty Mutual Fire Insurance Company, Mass Bay Insurance Company, Mendota Insurance Company, Metropolitan Group Property & Casualty Insurance Company, Metropolitan Group Property & Casualty Insurance, Metropolitan Property & Casualty Insurance Company, Metropolitan Casualty Insurance Company, Mid-Century Insurance Company, National General Insurance Company, National Security Fire & Casualty Company, National Union Fire Insurance Company of Pittsburg PA, Nationwide Assurance Company, Nationwide Mutual Insurance Company, Ohio Casualty, Pharmacists Mutual Insurance Company, Progressive Casualty Insurance Company, Progressive Classic Insurance Company, Progressive Direct Insurance Company, Progressive Northwestern Insurance Company, Progressive Specialty Insurance Company, Safeco Insurance Company of America, Safeco Insurance Company of Illinois, Sagamore Insurance Company, Sentenial Insurance Company Ltd., Shelter General Insurance Company, Shelter Mutual Insurance Company, Southern Farm Bureau Casualty Insurance Company, Star Casualty Insurance Company, State Auto National Insurance Company , State Auto Property & Casualty Insurance, State Automobile Mutual Insurance Company, State Farm Fire and Casualty Company, State Farm Mutual Automobile Insurance Company, Teachers Insurance Company, The Cincinnati Insurance Company, The Cincinnati Insurance Company (Dave Test), The First Liberty Insurance Corporation, The Insurance Company of the State of Pennsylvania, The Travelers Home and Marine Insurance Company, Travelers Commercial Insurance Company, TRINITY UNIVERSAL INSURANCE COMPANY, Trumbull Insurance Company, Untied Financial Insurance Company, United Services Automobile Association, USAA Casualty Insurance Company, USAA General Indemnity Company, West American, and Western General Insurance Company.

Other types of auto insurance you may wish to purchase include uninsured and underinsured coverage.  Uninsured coverage protects you and your vehicle if you are involved in an accident where the other individual is at fault and without insurance.  Underinsured covers cases where the other individual involved does not have enough insurance.  Personal injury protection will cover lost wages, death benefits, and medical expenses for you no matter who is at fault.  Comprehensive insurance covers accidents that occur because of acts of nature such as hitting a deer.  Collision covers damages to your own vehicle when it is in an accident.

In Arkansas, individual who are over 55 years of age must be offered the College Graduate and Defensive Driver Discount if they have taken and completed a driving safety course sanctioned by the state.