The state of Arkansas requires that all automobile owners must have liability coverage auto insurance.
Liability coverage means that claims will be paid where you are at fault for the accident. The minimums required by Arkansas state law are as follows - coverage for $25,000 per person for bodily injury, coverage for $25,000 in property damage to another person's property, with a total coverage for $50,000 per accident.
If you cannot obtain insurance because you have been denied coverage from voluntary insurance providers, you can apply to the Arkansas Automobile Assigned Risk Plan. According to Arkansas law, operating a vehicle in the state of Arkansas without auto insurance is punishable by a mandatory fine of at least fifty dollars but not more than two-hundred fifty dollars. Though the real punsihment would come if you had an accident and suddenly had to find $10,000 to pay for the expense of it!
Arkansas Underinsured or Ininsured Auto Insurance
This is the bare minimum of what is required for Arkansas auto insurance, however there are other coverages that the state recommends for all drivers. One of the first you should consider is coverage that protects you in the event that you are involved in an accident where you are not at fault and the party at fault is either uninsured or underinsured. This coverage protects you and your vehicle, providing funds to make up for whatever the guilty driver is unable to cover.
Therre are still a considerable proportion of drivers in Arkansas who do not carry any auto insurance, and so if you are involved in an accident with them, and don't have this cover, then you can be in big problems financially.
Comprehensive Arkansas Auto Insurance
Another highly recommended addition to your Arkansas auto insurance is comprehensive coverage. Comprehensive Arkansas auto insurance will cover the cost of repairs to your vehicle in the event that it is damaged by acts of nature or other damages not associated with you driving the vehicle.
These would include such things as damages caused by a storm, vandalism to your car, or where someone had broken in to steal the car radio. These are more common events then having an accident (though generally cost less in terms of your insurance claim), and so can provide good peace of mind.
Intelligent Ways To Get The Best Deal on Arkansas Auto Insurance
Make sure to take the time to shop around when you are looking for auto insurance. Different Arkansas insurance companies often change different rates for the exact same services. And depending on variables such as your age, your accident history, whether you are a drinker or even if you are a smoker, you may be able to receive discounts.
There is also a discount you should be aware of that is specific to the state of Arkansas. If you are over 55 years old, you can take an accident prevention course through the State Office of Driver Services. If you successfully complete this course, by Arkansas law your insurance company is required to offer you a discount. Anyone over 55 in the state of Arkansas should definitely take advantage of this opportunity.
Other ways to save money on your auto insurance include seeking insurance through credit unions and alumni associations if you are a college graduate. If you have young drivers in your household, have them complete a driver's education course. Submitting proof of completion may also make you eligible for a discount. Also, you can either add a deductible to your coverage or increase an existing deductible. You will pay a lower rate, but make sure you do not raise a deductible past an amount you can afford to pay.
For any other information about Arkansas auto insurance, another resource available to you is the Arkansas Insurance Department. They are a state-run agency, not a private insurer. They deal with all types of insurance, not just auto insurance.
A good first step is to get some Arkansas Auto Insurance Quotes right now, because that will immediately tell you what costs are like today. Once you have that information then it is easier to work backwards, and work out what levels of cover you can afford.