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Arkansas is one of the many states in the US that require car insurance by law. As a driver and/or car owner, it is your responsibility to have the required amount and type of insurance coverage to protect yourself and others on the road. Failure to do so can result in fines, license suspension or even jail time. In this article, we will discuss what car insurance is required by law in Arkansas.
Liability Insurance
Liability insurance is required by law in Arkansas and it covers damages or injuries you may cause to other people or their property in an accident. The minimum requirement for liability insurance in Arkansas is $25,000 for bodily injury per person, $50,000 for bodily injury per accident and $25,000 for property damage per accident. These minimums are often referred to as 25/50/25.
It is important to note that liability insurance does not cover your own damages or injuries in an accident. If you want protection for yourself and your vehicle, you will need to purchase additional coverage.
Uninsured/Underinsured Motorist Coverage
In addition to liability insurance, Arkansas also requires drivers to have uninsured/underinsured motorist coverage (UM/UIM). This coverage protects you in case you are in an accident with a driver who does not have insurance or does not have enough insurance to cover the damages or injuries they caused.
The minimum requirement for UM/UIM coverage in Arkansas is also 25/50, but it is important to note that this coverage is not required if you have waived it in writing.
Personal Injury Protection
Personal injury protection (PIP) is not required by law in Arkansas, but it is an important coverage to consider. PIP covers your medical expenses and lost wages if you are injured in an accident, regardless of who caused the accident.
If you do choose to purchase PIP coverage, the minimum requirement in Arkansas is $5,000.
Collision Coverage
Collision coverage is not required by law in Arkansas, but it is often required by lenders if you are financing or leasing a car. Collision coverage will pay for the damages to your vehicle if you are in an accident, regardless of who caused the accident.
If you do choose to purchase collision coverage, you will have to select a deductible amount. The deductible is the amount you have to pay out of pocket before the insurance company will pay for the rest of the damages.
Comprehensive Coverage
Comprehensive coverage is not required by law in Arkansas, but it is also often required by lenders if you are financing or leasing a car. Comprehensive coverage will pay for damages to your vehicle that are not caused by an accident, such as theft, vandalism or natural disasters.
If you do choose to purchase comprehensive coverage, you will also have to select a deductible amount.
In conclusion, the minimum required car insurance in Arkansas is liability insurance with limits of 25/50/25 and uninsured/underinsured motorist coverage with the same limits. However, it is important to note that these limits may not be enough to cover all of the damages and injuries in an accident. It is always a good idea to consider additional coverage options like personal injury protection, collision coverage and comprehensive coverage to fully protect yourself and your vehicle. Be sure to shop around and compare quotes from multiple insurance companies to get the best coverage at the best price.