Whether you’re in Arkansas or you’re considering moving there, you’ll want to know how to calculate car insurance premiums in Arkansas. The state has minimum car insurance requirements. These are $25,000 in property damage liability insurance for each person, and $50,000 for each accident. You can also purchase collision and comprehensive insurance. However, these costs are more than the state’s minimum requirements.
The cost of insurance can be affected by the driver’s age, driving history, and the cost of the vehicle. For instance, drivers under the age of 25 pay higher rates than older drivers. You can also expect to pay more if you’re convicted of driving under the influence of alcohol or drugs. You may also be impacted by your driving record, which may mean you have multiple traffic violations. You can get a discount if you take a driver safety course. You may also be eligible for other discounts.
Drivers can also choose to add uninsured motorist coverage to their policy, which will pay for other drivers’ damages if they’re involved in an accident. This coverage is optional in Arkansas, but it can be an effective way to lower your premium. If you’re financing your car, your lender may require you to have collision coverage. You can also get discounts if you’re a student or a veteran. If you have a good driving record, you may also qualify for discounts.
You can also try to shop around to find the best rates. There are many websites that will help you compare car insurance quotes from several companies. You can also call an insurance agent to get a quote directly. However, you’ll want to be sure to ask about discounts.
You can also determine the cost of insurance by using a car insurance calculator. MoneyGeek has a car insurance calculator that breaks down factors that can affect your premium. It also provides a rough estimate. It’s important to note that the calculator can’t account for every possible factor, but it should give you a good idea of what to expect.
Arkansas insurance companies also consider your age, gender, marital status, and annual mileage when determining your premiums. You may also qualify for discounts if you’re a student, a veteran, or if you make your payments online. Also, if you have a clean driving record and you live in a safe neighborhood, your premiums may be less than those of drivers who live in more dangerous areas.
Arkansas insurance companies can also consider your credit score when determining your premium. Drivers with poor credit are more likely to file claims, which increases their premiums. On the other hand, drivers with excellent credit pay far less than those who don’t. If you have a DUI or multiple traffic violations on your record, you’ll have a harder time finding an affordable policy. You may also qualify for an assigned risk program, which pools together insurers to insure people. However, this program is often expensive, so you’ll need to shop around to find the best rates.