Conway is the county seat of the Faulkner County. The city is located in Central Arkansas, which is one of the most populous Metropolitan Statistical Area. It passes right through the northern and the eastern side of the city. This city has a humid subtropical climate which is characterized by humid and hot summers with mild to cool winters. This city is no stranger to natural hazards like severe storms, flooding, wind damage, and tornado. It has made homeowners insurance a top priority for the majority of the residents living in the city.
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Homeowners Insurance Rates in Conway, AR
We have conducted a study of home insurance premiums in Arkansas cities. As the result of this study, the average monthly home insurance premium was found to be $121.26 in Conway, AR. This is $1.97 lower than the Arkansas state monthly average premium. We got rates from 3 insurance providers. Out of 3 providers Liberty Mutual delivered the cheapest home insurance rate of $84.00. Farm Bureau Insurance averaged slightly higher at $102.26. State Farm was found the most expensive with $177.54 average monthly premium in Conway.
Conway, AR Homeowners Insurance Monthly Premiums
|Zip Code||State Farm||Liberty Mutual||Farm Bureau Insurance||Zip Code Average|
|Company Average||$177.54||$84.00||$102.26||Conway Average: $121.26|
The methodology that has been used to get the rates include getting quotes from 1500 sq ft house with two separate full bathrooms. This is assuming the house was built back in the year 2000 and the roof of the house has been replaced in the year 2015. It is also assumed that it has an estimated home value of around $150,000. Other details have been used to get the right quotes from all of the companies. Conway now has two zip codes – 72032 and 72034.
Conway, AR Statistics
The estimated population in the city of Conway as of July 1, 2017, is 65,782. 48.4 per cent of the city’s housing unit is owner occupied, and its median value is $161,400. The median selected owner costs on a monthly basis with a mortgage are $1,241 and without a mortgage is $399. This is all between the years 2012-2016. The median gross rent is also at $742 between 2012-2016. The median income of households in the city is estimated at $47,190. The per capita income for the last 12 months is at $24,752 while 18.8 per cent of the city’s population lives under poverty.
The crime rate in Conway Arkansas has been rated on a scale of 1 to 100, 1 being the lowest rate of crime and 100 being the highest rate of crime. In violent crime, the city was rated at a 33.8 and in property crime, it was rated at a 55.1. Property crime includes offences like arson, motor vehicle theft, larceny theft, and burglary theft. The different types of object of theft include the taking of property or money.
In a city like Conway where natural disasters are common, compromising on the quality of the homeowners insurance is not a wise decision. However, this does not mean homeowners have to spend a fortune on insurance. There are tips and tricks to save money while getting the best homeowners insurance in the city. For example, many homeowners are able to get a lot of discounts simply by maintaining a good credit history. With the help of an impressive credit history, you will be able to cut your costs on insurance.
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