Best Homeowners Insurance In Arkansas For 2024

State Farm is a top choice for homeowners insurance in Arkansas due to its strong financial foundation, receiving the highest rating of A++ from AM Best. The company also boasts a high customer satisfaction rating of 829/1000 from J.D. Power, based on numerous positive online reviews. With numerous local offices and agents in Arkansas, State Farm offers fast and convenient service.

One of State Farm’s appealing features is protection against credit card fraud and identity theft. Homeowners who need to rebuild after a covered loss may face challenges with their homeowners association (HOA) due to stricter codes and regulations. State Farm provides legal assistance and covers the cost of new and more expensive materials to comply with HOA requirements.

Starting the insurance process with State Farm is quick and easy online, although you’ll need to contact an agent to purchase a policy. Once you’re a customer, you can manage your account online through the app or website. This includes enrolling in auto-pay, paying premiums, choosing paperless billing, filing claims, and accessing a resource library with helpful insurance information.

Customers consistently give Farmers homeowners insurance top reviews and ratings for its policy perks and online services. The company’s clear explanations of its policy perks contribute to positive feedback about the online experience.

Understanding the perks offered and how they can save you money on premiums is valuable when shopping for homeowners coverage. Farmers’ policy perks might influence your decision in choosing an insurer.

Some of Farmers’ policy perks include:

• Deductible Declines: $50 off your deductible for each year your policy is active.
• Claim-Free Discount: Discount for not filing a claim in at least three years.
• Guaranteed Replacement Cost: Pays the total cost of rebuilding or repairing your home after a covered loss, regardless of the cost.
• Claim Forgiveness: Premium won’t increase for at least 5 years if you haven’t filed any claims.
• Multi-Line Policies: Bundle insurance coverage with Farmers (e.g., auto and homeowners) for up to a 34% discount.

Farmers home insurance has a high rating of 9.3/10 from J.D. Power, with the only drawback being lower-than-average customer satisfaction ratings.

Nationwide receives a high rating from J.D. Power for its financial strength and stability. While there is room for improvement in customer satisfaction ratings, Nationwide is well-regarded in the insurance industry with a solid reputation. With numerous local offices and agents in the state, Nationwide offers convenient and quick customer service.

If you value policy options, you’ll appreciate the variety offered by Nationwide, some of which are unique. These options include reimbursement for credit card fraud and identity theft, which are common concerns.

For homeowners in very restrictive HOAs, Nationwide offers assistance if you must rebuild your home following a loss and find yourself out of compliance with newer codes. Nationwide provides an attorney to help with the problem and extra coverage for labor and materials to rebuild to code.

Nationwide also offers the Better Roof Replacement option, providing additional coverage for installing new roofing materials due to a covered loss.

With the Brand New Belongings option, Nationwide reimburses policyholders for the destruction or damage of belongings, adjusted for depreciation. Simply buy replacements, send the receipts to Nationwide, and you’ll be reimbursed for the difference between the cost to replace them and the depreciation.

Discounts are a crucial aspect of homeowners insurance, as they can help you save money on premiums. Allstate stands out by offering eleven discounts to its policyholders, compared to the national average of seven.

For those interested in discounts and savings, Allstate is a reputable choice known for its strong foundation. Many insurance analysts consider Allstate to be one of the best companies in the industry.

Allstate’s discounts include:

• New Home: Discount for purchasing a newly built home.
• Bundle: Up to a 25% discount for bundling multiple insurance types with Allstate.
• Responsible Payment: Discount for maintaining a good payment record.
• Early Payment: 10% discount for taking out a new policy within one week of renewing the old one.
• Loyalty: 10% discount upon policy renewal.
• Claims Forgiveness: Rates won’t increase after filing a claim with Allstate’s claims forgiveness feature.
• Automatic Payment: 5% discount for enrolling in automatic payments.
• New Home Buyer: Discount for purchasing a newly constructed home.
• Protective Device: Discount for installing protective fire and theft devices.
• Deductible Reward: $100 off your deductible when purchasing a policy with Allstate.
• Claims Free: 5% discount for going a year or longer without filing a claim.

Allstate’s range of discounts surpasses the national average, and it offers additional optional coverage for outdoor property, such as landscaping and riding mowers, as well as coverage for Identity Theft and credit card fraud.

Chubb is known in the insurance industry and among policyholders for offering affordable luxury home coverage. While its rates are slightly higher than the Arkansas yearly average of $1,610.00, at around $1,940.00 annually, Chubb is competitive with similar companies, particularly for high-end home coverage.

Chubb excels in customer satisfaction, receiving high marks for its service quality. In addition to its competitive rates, Chubb offers options that cater well to many homeowners. If your home is damaged or destroyed by extreme weather or another covered loss, Chubb allows you to choose a cash settlement instead of requiring a rebuild.

Chubb provides various features, including property management services for a second home, personalized claims, high-tech property inspections, and more. It also offers add-ons to its basic home insurance, such as coverage for water backup, equipment breakdown, replacement of your home and personal belongings, and coverage for other events. Additionally, Chubb offers extra coverage for the extended replacement cost of your home, even if its value has depreciated.