Arkansas FAIR Plan Homeowners Insurance

Although Arkansas has some of the most severe weather in the country, the state does not yet have a FAIR plan. Arkansas has its share of natural disasters and the need for homeowners to find coverage for their homes can become extremely cumbersome.

Tornadoes – According to state tracking centers, Arkansas ranks as one of the top three states for tornado frequency causing thousands of homeowners insurance claims each year.

Earthquakes – It’s very interesting to note that Arkansas’ southern end sits on one of the biggest seismic faults in the United States, the New Madrid seismic zone. According to the USGS, Arkansas’ Lake Saint Francis which measures forty miles long and a half a mile wide was created by an earthquake in 1811.

Hurricanes – Arkansas gets a regular dose of Gulf Coast Hurricane leftovers. Hurricane Katrina and Rita both made their way into Arkansas after leaving unprecedented devastation in the Gulf States.

Flooding – According to FEMA, Arkansas ranks fourth in the nation when it comes to the risk of flooding, only behind Florida, Texas and Louisiana.

With the possible devastation from Mother Nature, Arkansas will continue to have a large volume of home insurance claims leading many to be categorized as “high risk” homeowners. By reaching out to multiple insurance companies for quotes, the homeowner is in the best position to find an affordable rate. If your carrier is punishing you for claims, you certainly are not alone. All sorts of unexpected events, severe weather and other natural disasters will continue to occur and the need for insurance companies who take each individual case into account will continue to increase especially with no state FAIR Plan.

As with all FAIR Plans, consumers are urged to try to find coverage in the private market and we can help you find an agent that can help you find alternatives to the FAIR