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Fort Smith, AR Home Insurance Rates

One of the second largest cities in Arkansas, Forth Smith has one of the two county seats in Sebastian County. This city lies on the state border of Arkansas and Oklahoma. Fort Smith is situated at the confluence of the rivers Poteau and Arkansas which is also known as the Belle Point.

In the central part of United States lies an area called the Tornado Alley and this is where Fort Smith is located. It goes without saying this city is no stranger to tornadoes. It is also known for its freezing temperatures between November and March. With extreme weather hazards, it has racked up the home and property damages each year, triggering residents to make homeowners insurance a priority in their property investments.

Study of Homeowners Insurance Rates in Fort Smith, AR

According to our study, the average Fort Smith, AR homeowners insurance premium on a monthly basis is at $121.95. This is $1.28 lower than the Arkansas monthly average premium which is at $123.23.

To complete the study of Fort Smith, AR homeowners insurance prices we picked 3 popular Arkansas insurance providers. These three companies are State Farm, Liberty Mutual and Farm Bureau. To see how they are performing in the city, let’s take a look at their average premium on a monthly basis. State Farm is currently at an average premium of $165.29, Liberty Mutual at $104.50 and Farm Bureau at an impressive premium of $96.06. This makes Farm Bureau an easy winner for affordable homeowners insurance rates.

Fort Smith, AR Homeowners Insurance Monthly Premiums

Zip CodeState FarmLiberty MutualFarm Bureau InsuranceZip Code Average
Company Average$165.29$104.50$96.06Fort Smith Average: $121.95
72901

$161.00$105.00$93.32$119.77
72903$168.16$102.00$97.24$122.47
72904$161.16$110.00$104.82$125.33
72908$170.83$101.00$88.87$120.23

For the methodology of the study, we got the quotes for houses measuring 1500 sq ft built during the year 2000 and had two separate full bathrooms. The value of the home is estimated at $150,000. We also assumed that the roof has been replaced in 2015. For Fort Smith, we got quotes for 4 zip codes: 72901, 72903, 72904 and 72908.

Fort Smith, AR Statistics

According to the 2017 census dated July 1, the population of the city of Forth Smith is estimated at 86,270. 50.9 % of the housing units in the city is owner occupied, and the median gross rent is $626. The average value of the owner occupied housing units is at $114,900. The median selected owner costs on a monthly basis with a mortgage are $960, and without mortgage, it is $335.

The median household income is at $35,956 according to 2012-2016 census with per capita income of the last 12 months at $22,819. This leaves only 26.1 % of the population who live in poverty.

Saving Tips

Reliable homeowners insurance can be expensive. However, you can always lower your Fort Smith homeowners insurance costs with these helpful tips:

Shop around: There is always the possibility of a better and more affordable homeowners insurance around the corner. Don’t be lazy and shop around as much as you can before you settle for the right one.

Always raise your deductibles: This refers to the total amount of the money which you need to pay towards a loss just before your insurance company begins paying for a claim. This is all in accordance with the terms of your policy.

For a complete guide on how to save on homeowners insurance, please visit this page.

With the right information and proper research, you can always find the best at a lesser price. Always remember to look into reliable statistics, the condition of your house and property to find out the homeowners insurance that fits you perfectly.

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