Arkansas And It’s car Insurance Policies
Before you decide to become a resident and visit the only diamond mine in the US where you can actually mine for your own diamonds, consider your options in auto insurance coverage and how your rates might compare.
Minimum car insurance requirements in Arkansas
insurance is required Minimum Limits –25/50/25
Bodily Injury Liability Coverage $25,000 for one person
$50,000 per accident
Property Damage Liability Coverage $25,000 minimum
Personal injury protection (optional) $5,000 minimum
Liability insurance covers all persons (drivers, passengers, pedestrians, bicyclists, etc.) who are owed compensation for property damage and/or injuries resulting from a car accident that you or anyone under your policy cause.
ARKANSAS IS AN “AT-FAULT” ACCIDENT STATE. THIS MEANS THAT IF YOU ARE THE AT-FAULT DRIVER DURING AN ACCIDENT, YOU WILL BE LIABLE FOR ANY PERSONAL INJURY OR PROPERTY CLAIMS.
Minimum coverage is required for car insurance in Arkansas, specifically liability insurance, at these limits:
$25,000 – to cover injury or death to one person in an accident you caused
$50,000 – to cover the total injuries or death of more than one person in an accident you caused
$25,000 – to cover property damage in an accident you caused
Remember, these amounts are minimum requirements and do not cover injury, death, or damage to you or your own passengers. That will require additional coverage.
What if I’m not to blame?
Arkansas does not require no-fault coverage; however, the state requires that your insurance company offer you at least $5,000 of no-fault insurance, also known as personal injury protection (PIP), for medical bills you incur due to an accident, regardless of who has fault, who is driving or who is the owner of the vehicle.
How to get affordable auto Insurance in Arkansas
Check the insurance classifications according to the cars Cars with lower-than-average insurance ratings are generally less expensive to insure. Before you buy or lease your next car, check out auto insurance rating lists to find popular vehicles with the best insurance value.
Take advantage of discounts on joint policy purchases Some auto insurance companies offer a discount when you buy two or more products from them, such as home, auto, or life insurance. If you need more than one type of backup, this option can help meet your needs and save you some money down the road
Increase your deductible The deductible is the amount you choose to pay for damage to your vehicle before your insurance kicks in. For example, if your deductible is $500 and you have $2,000 worth of damage, you’ll pay the first $500 of the car repair cost and your insurance company will pay the rest. Raising your deductible by just a few hundred dollars could save you a lot of money. It usually costs less to pay a little more for a minor repair than it does to pay a higher premium over time.
Get less coverage on your older car If you have an older car, you may not need collision and comprehensive coverage. Compare the cost of insurance to the value of the car. Car dealers and banks can tell you the value of a car.
Take advantage of group insurance Include group insurance plans when comparing auto insurance quotes to find more discounts. Some employers, professional groups, trade groups, and other associations offer group plans at discounted insurance rates
Be a careful driver Most auto insurance companies offer better rates to customers who have had no accidents or traffic violations for several years.
Use the same company for all your needs. The more insurance policies you have with a company, the more discounts they can give you. By combining car insurance and home insurance, people can save 10% to 20%.
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Auto Insurance Laws in Arkansas
Auto insurance laws vary from state to state, and Arkansas is no different, but they are certainly more confusing than the laws in other states.
ARKANSAS HAS IMPORTANT LAWS WORTH NOTING, ESPECIALLY REGARDING CELL PHONE USE, HANDHELD DEVICE USE, AND TEXTING WHILE DRIVING, SOMETIMES DEPENDING ON AGE, TYPE OF DRIVER, AND TYPE OF VEHICLE. DRIVING ZONE.
Sounds like a case-by-case situation, right? Well, it is.
Arkansas has a ban on the use of cell phones by any driver under the age of 18; however, drivers between the ages of 18 and 21 are allowed to use a cell phone and are only prohibited from carrying it in their hand.
Additionally, cell phone use by drivers under the age of 18 or while driving through a school or work zone is only enforced secondarily, meaning a driver must also be breaking a law that is primarily enforced to receive a citation for violating a secondarily enforced law.
However, if a school bus driver is using a cell phone, law enforcement becomes paramount.
ALL DRIVERS, REGARDLESS OF AGE OR TYPE OF DRIVING ZONE, HAVE A TEXTING BAN AND IT IS MOSTLY ENFORCED. ALL DRIVERS ALSO HAVE A BAN ON USING THE HAND, BUT ONLY IN SCHOOL AND HIGHWAY WORK ZONES.
Auto Insurance Fraud in Arkansas
Insurance fraud is a criminal offense in the state of Arkansas, which occurs when an individual attempts to deceive an insurer into receiving benefits or payments that they are not qualified to obtain.
There are three ways insurance fraud is committed:
Knowingly misreporting or concealing facts to obtain benefits, coverage, or compensation
Helping someone misreport or misrepresent facts to receive benefits
Knowingly making false statements or statements on behalf of another person in an official proceeding
Insurance fraud is considered a:
Class B felony if the value in question is greater than $20,000, punishable by up to 10 years in prison and/or $25,000 fine
Class C felony if the value in question is greater than $300, punishable by up to five years in prison and/or $10,000 fine
A misdemeanor if the value in question is $300 or less, punishable by up to one year in prison and/or a $2,000 fine
The state of Arkansas requires insurers to establish a specific program that identifies insurance fraud and describes actions taken to reduce insurance fraud.
Bottom line, don’t commit insurance fraud and you’re good to go.
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