The residents of Arkansas have had insurance rates drop steadily since 2007. The state minimum coverage for the state of Arkansas is as follows:
Bodily Injury Liability: Bodily injury liability is $25,000 for the driver in the other vehicle which includes medical bills and the other minimum liability is $50,000 which covers the amount the insurance company will cover for injured passenger’s in the other vehicle.
Property Damage Liability: Represents the minimum quantity of property damage liability insurance that’s needed which is going to cover damages to the person’s property, such as their home, vehicle, or any other assets. The minimum amount is $25,000 for the state of Arkansas.
The minimum requirement for the state or Arkansas is going to set with the following numbers 25/50/25. As you can see by the numbers above they are in that order respectfully.
While it isn’t needed for drivers in the state or Arkansas to carry more than the minimum coverage, it is generally recommended that Arkansas residents also carry collision and comprehensive cover particularly if they are driving a newer vehicle.
With comprehensive cover you vehicle is going to be protected by anything other than a “collision”, such as fallen tree branch or while your vehicle is parked, etc. With collision coverage your vehicle is going to be protected if you happen to run into a tree or a sign, for example.
When getting collision coverage realize the insurance company is only going to pay up to the cars “cash-value”. That means the market value of the vehicle before the accident minus the salvage value of the vehicle after the accident.
Local Agents In Arkansas
- Little Rock
- Fort Smith
- North Little Rock
Another insurance you may want to consider is uninsured motorists insurance. This is going to cover you and your vehicle in case the other driver does not have insurance.
Although the uninsured motorist rate for the state of Arkansas is declining it is always good idea to be sure you have uninsured motorist coverage since one out of ten driver in the state are not insured.
If you have a loan on your vehicle is it may be a good idea to talk an insurance agent about Gap insurance. This type of cover is going to pay for the “gap” or the value of the vehicle the insurance company will cover minus what you owe to the bank.
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If you are unsure of which type and how much cover you can always compare quotes by entering your zip code and if you find a few which are reasonably priced the insurance agent is standing by to help you determine the amount of cover you need.