Arkansas families look for the best ways to save money when they can. Working within a budget no matter how much money you earn each year is always wise, and it’s something you must do if you want to succeed in living a life of financial freedom. One way to find savings in your monthly budget is to shop around for the best car insurance rates. In Arkansas, national data shows the least expensive annual premium on average comes from Farmers Insurance Company with a quote of $288 per year. This is a low price, and it’s one many drivers and vehicle owners want to take advantage of. Before you switch your car insurance company, though, it’s imperative to understand how your rates are affected, how to get the best rates, and why you might not be offered the same low rates as others.
How to Get the Lowest Rates for Car Insurance in Arkansas
It’s a simple process to obtain the lowest possible car insurance rates, but it’s not always something you can achieve. The better your driving record the lower the fee you will pay each year. If you have numerous tickets, accidents, and a bad driving record as a whole, you’ll pay far more. If you want the lowest possible rates, you’ll want to see if you fall into these categories:
- Be a younger woman or an older man
- Get married
- Live somewhere without much traffic or population
- Drive a car no one wants to steal
- Have good credit
Unfortunately for many Arkansas drivers, you can’t change much of this. If you’re an older woman, your rates might be higher than those of your husband as statistically it’s older men who are better drivers than older women. The same goes for young men. They are traditionally considered more likely to become involved in accidents, therefore they must pay higher rates. Married couples pay lower rates, and many insurance companies base your rates on how densely populated your neighborhood is. All insurance companies check your credit before they approve you for a policy, and bad credit means you’re going to pay a much higher insurance premium no matter how good your driving record is.
The Best Arkansas Insurance Rates
There’s always an option available for you in Arkansas. Just because one company offers the lowest rates on average doesn’t mean it’s the right company for you. Your driving record and personal information affect your rates, so you might shop around to find the best rates. With dozens of insurance companies from which to choose, Arkansas statistics show most people find the lowest rates with companies such as the following:
- Horace Mann Property & Casualty Insurance Company
- Safeco Insurance Company of Illinois
- USAA General Indemnity Company
- American National General Insurance Company
- United Home Insurance Company
Many residents in Arkansas aren’t even aware some of these companies offer insurance for their vehicles, and they overlook them in the process of finding an insurance company. This is why it’s imperative to do your homework to understand what’s available to you and how you can get the best possible rates.
Lowering Your Premium
While shopping for an insurance policy, be aware that several factors can change the price of your premium. If you have a car with a security system, an alarm, safety features such as back-up cameras and lane change assistance, you can get a lower rate. These features make driving safer, and they make your job a bit easier. Tell your insurance company if your car has any of these features, and you might see a discount on the overall cost of your insurance premium.
One more thing to take note of when shopping for a premium in Arkansas is that you might be able to save significantly on your policy by forgoing monthly payments and paying upfront. Most companies charge a small fee of approximately $5 per month to auto debit or bill you directly, which can add up to $60 per year in fees. Pay your premium up front and many companies will also off you a small discount for doing so. You can save around $100 per month doing this, which makes your insurance premium as cheap as possible.