Stats in Your State
To get a sense of how your homeowners insurance premiums compare to other folks in Arkansas and the surrounding states, read through our assembled graphs and stats. You might just be surprised (and grateful) to find out you're paying far too much on that premium compared to your fellow state residents!
Homeowner Insurance Premiums
The heavy hurricane seasons in 2003, and the years following the disaster, drove up the cost of homeowners insurance in Arkansas to above the national average for several consecutive years.
Renter Insurance Premiums
Similar to home insurance premiums, renters insurance in Arkansas cost more than the national average consistently from 2000 through 2008.
Existing Home Sales
The housing market in Arkansas mirrored that of the U.S. in general through the mid 2000s, experiencing a boom up until 2005, which was then followed by a sharp decline in 2006; this was one of the first indicators that the weakening housing market was entering a recession.
Flood Insurance in Region
With its Eastern border on the Mississippi River, Arkansas ranks third in the Southern region for flooding behind only Mississippi and Louisiana. In the 2011-2012 year, 1,116 Arkansas residents claimed over $28 million in damages.
Located along the Mississippi, Arkansas' verdant farmland have consistent brought in a significant number of newcomers. From decade to decade, Arkansas has experienced a very steady and reliable amount of growth, which is reflected in the amount of structures built throughout the twentieth century.
Rules in Your State
While Arkansas does not have a specific bill of rights for consumers in terms of their homeowners insurance policies, Chapter 88 of the Insurance Code sets forth the regulations governing how insurers must conduct their business and how they must treat consumers.
Arkansas Insurance Code: Chapter 88, Property Insurance: Chapter 88 specifies trade practices and provisions for property insurance, and stipulates how insurers must handle policies and claims.
Arkansas Insurance Department Rules: The Arkansas Insurance Department Rules stipulate how insurers must practice their trade with regards to all aspects of their business and policies. Click the link above to learn more about how the industry is governed.
Representatives & Resources in Your State
For help with a difficult claim, or just to learn more about how homeowners insurance works in Arkansas, use the resources below.
Arkansas Insurance Department
1200 West Third Street
Little Rock, AR 72201-1904
800-282-9134 or 501-371-2600
Arkansas Homeowners Insurance Rate Comparison Resource
The Insurance Department has compiled a database of insurance rates for consumers to compare Arkansas’ homeowners insurance premiums.
Consumer Complaint Resource
Consumers who have been marginalized or compromised by difficult insurance companies should contact the Insurance Department to file a complaint against tough insurers.
Insurance Department Consumer Brochures
The Insurance Department has published numerous brochures on different types of insurance to educate consumers about their options for insurance in Arkansas.
Disaster Relief and Claims
Disaster Preparedness Resources
For residents who want to be better prepared for the slew of natural disasters threatening them on a yearly basis, click the above link to learn more from the Insurance Department’s own disaster guide.
FEMA Region 6 Contact Information
Arkansas’ close proximity to the Gulf and large floodplains make it familiar territory for the Federal Emergency Management Administration (FEMA). Whether dealing with floods, hurricanes, or tornadoes, Arkansas residents have numerous natural disasters threatening them. The above link provides contact information for the regional FEMA offices.