National Study Taps State As 18th Lowest in Nation
LITTLE ROCK – Arkansas Insurance Commissioner Allen Kerr today released the following statement on results from a study by the National Association of Insurance Commissioners (NAIC) showing that Arkansans are paying among the lowest average premiums in the nation for auto insurance:
“The Arkansas Insurance Department is committed to maintaining an environment where hardworking Arkansans have increased consumer choices and lower costs. Increasing competition among businesses and cracking down on insurance fraud will be our focus to protect consumers’ pocketbooks.”
The NAIC recently published information showing Arkansans an average of $729 for auto insurance in 2014, the year the most recent data is available, which puts the state at the 18th lowest in the nation and less than the national average of $866.
Among bordering states, only Missouri ($724) and Tennessee ($725) have lower premiums. Border states with higher premiums include Mississippi ($797), Oklahoma ($808), Texas ($906), and Louisiana ($1,193).
Kerr encourage Arkansans to compare prices when buying or renewing your insurance policies. The Arkansas Insurance Department offers an online brochure to help you compare prices. Please visit http://insurance.arkansas.gov/Consumers/Auto.pdf to download your brochure, or call our Consumer Services Division at 800-852-5494 to have a copy mailed to you or discuss any issues with your auto insurance policy.
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