The best way to buy car insurance in any state is by collecting an assortment of auto insurance quotes. Even drivers with impeccable records can benefit enormously from shopping around a little. That’s certainly the case in Arkansas, which has a fairly sparse population considering how large it is. Even though there are very few densely populated areas in the Natural State, it is still important to be protected while operating a motor vehicle. After all, accidents can and do occur on lonely stretches of highway.
Collecting quotes is the way to go when buying auto insurance in Arkansas. However, it’s just one piece of the puzzle. It also helps to learn a little about the kinds of people who are on the road. More importantly, drivers should educate themselves about insurance requirements in the state. Pleading ignorance will not work. Anyone who doesn’t maintain insurance that meets certain minimum requirements is playing with fire. The consequences of driving without insurance vary but often involve fines and fees. At any rate, any auto insurance company that’s licensed to operate in Arkansas should be fully aware of the requirements.
Who is on the road in Arkansas? The first thing to understand is that the state had a population of 2,949,131 in 2012. That estimate comes from the U.S. Census Bureau. In terms of licensed drivers in the state, the total in November 2012 was 1,956,901. That figure was arrived at by the Federal Highway Administration, which keeps track of driving statistics in all 50 states. 905,039, or 46.27 percent, of those licensed drivers are male while 1,051,052, or 53.73 percent, are female. That information is neither here nor there, however, because insurance companies do not take gender into consideration when determining premiums.
Insurance companies must assess the amount of risk they are taking by extending coverage to a driver. A person’s driving record is very useful in this regard, but it’s just one factor that is considered. The age of the driver is extremely important. It matters because younger drivers don’t have a lot of experience. The less experience someone has, the more likely he is to be involved in an accident. In Arkansas, 104,459 drivers, or 5.3 percent of all licensed drivers, are aged 19 or below. This isn’t a significant percentage of those who are on the road, but it’s still worth keeping in mind.
One thing that should give any Arkansas driver pause is the fact that the largest group of drivers in the state is the 20-to-24 age range. Out of all of the age ranges that are tracked by the Federal Highway Administration, this one has 104,459, which is the highest number and represents 9.1 percent of all licensed drivers. While this group ostensibly has more experience than those under age 19, it is still significantly less experienced than many other groups. Therefore, it’s all the more crucial to maintain top-notch auto insurance in Arkansas.
Auto Insurance Requirements in Arkansas
One shouldn’t simply go out and buy a random auto insurance policy. That is just as true in Arkansas as it is anywhere else. Maintaining insurance is about more than obeying the letter of the law. It’s about protecting everyone’s financial best interests. Like most states, Arkansas has strict requirements in place for car insurance. Drivers who fail to buy insurance that fulfills these requirements can get in serious trouble. The basic requirements include:
- At least $25,000 in bodily injury coverage for one person
- At least $50,000 in bodily injury coverage for more than one person
- At least $25,000 in property damage coverage
It’s nearly impossible to get away with driving without insurance in Arkansas. This is because the state has an Insurance Verification Program that electronically tracks registered drivers’ insurance coverage statuses. If a driver allows his policy to lapse or fails to renew it, the DMV is notified. Drivers who fail to maintain valid insurance run the risk of having t heir registrations suspended. In most cases, fees must be paid in order to have them reinstated. Other fees may be involved as well. These minimums are well and good, but drivers should consider more extensive coverage. With auto insurance quotes, it’s easy to get fair prices for excellent insurance policies in Arkansas.