Car insurance premiums in Arkansas can be among the highest, with rates often determined by factors like driving record, age, credit score and location. To save money when purchasing coverage it’s essential that you shop around regularly and compare quotes; additionally lowering deductibles or raising liability limits will lower rates further; strengthening financial profiles such as increasing credit scores can also have an impactful effect on premium costs as insurers believe drivers with stronger profiles are less likely to file claims.
When comparing average car insurance costs in Arkansas, it’s also essential to decide if you wish to purchase full coverage or just the minimum required by state. While state minimums provide adequate protection against property damage and bodily injury claims, they don’t protect drivers against vehicle repair expenses or other costs related to accidents. Most motorists choose comprehensive and collision policies in addition to their standard liability policy in order to minimize excessive premium payments.
Age plays a key role in determining car insurance premiums, with younger and teenage drivers typically paying the highest premiums due to inexperience and being more likely to break traffic rules and cause accidents than older drivers. Drivers in their 30s to 60s usually enjoy lower premiums as they’re considered safe drivers with proven records of driving safely.
Gender can have a major influence on Arkansas car insurance rates. Males are more likely to cause accidents than females, leading to them often facing higher premiums; this factor doesn’t play as large a part for younger drivers as much as it does with elders or teens.
As it’s also essential to remember, car insurance rates vary by city and insurer, the state average for full coverage being around $1,383 annually; however, you could possibly find better offers elsewhere based on factors like repair costs, parts availability and car accident/theft frequency.
Though not directly factoring into calculating Arkansas car insurance premiums, your credit score can serve as an excellent barometer of your financial well-being and is an indicator of whether or not late payments or filing claims is likely; for this reason it is wise to maintain as high a score as possible.
If you’ve been charged with DUI in Arkansas, your auto insurance rates may increase substantially. For the best result when shopping around for coverage after being arrested for drunk driving, speak to an agent or representative from each insurance provider you’re considering and ask how a DUI conviction would impact their rates; on average they rise 60% following conviction. Thankfully there are ways to lower them after such conviction; by shopping around and comparing quotes you may find an affordable plan tailored specifically to meet your needs and even using an online quote calculator can help determine your exact costs.