Arkansas Car Insurance Requirements And Options

There are many different options to think about when purchasing Arkansas car insurance. Every state has different requirements and different policies that must be paid for. The same goes for the state of Arkansas.

Arkansas has what is called a tort system. A tort system is different in every state, but in the state of Arkansas, it means that whoever is found to be at fault in an accident, and there insurance company, is liable for all bodily injury and property damage caused by the accident. This also gives the victim the right to sue for things like pain and suffering and loss of wages from missed work, if caused by an accident.

Arkansas requires that a person have 25/50/25 liability coverage. This means that the insurance will cover $25000 of bodily injury bills caused by an accident, with at least a total of $50000 for such coverage, and also $25000 of property damage bills from the accident, if found to be at fault.

Also, required is a minimum amount of first-party insurance, which pays off certain bills regardless of who is at fault. It covers medical bills and funeral expenses, if necessary, within 24 months of the accident, up to $5000 per person. Not only that, this coverage will, payback 70% of lost income for accident-related injuries, from eight weeks after the accident until 52 weeks after. On top of that, there is a $5000 accidental death gratuity included.

On top of these required coverages, there are also a number of optional coverage plans. While they may not be mandatory, these policies are designed to help with monetary issues in the event something happens to a person's car.

There are uninsured and under-insured motorist coverages that are sold for the possibility that the person at fault has no insurance or not enough to cover everything. Although not required, if purchased the minimum must match the minimum for the bodily injury liability of the state.

Other than multiple car accidents, there are many other things that can happen to damage somebody's car, which that person would probably not want to end up paying for. This is why there is an option to get non-mandatory property coverage, so the insurance company will pay for the vehicle and any other property that may be damaged, in the event of a single car accident or other non-accident related problems such as vandalism or natural disasters.

Comprehensive coverage will cover the collateral on a car if it is totaled. This type of coverage is usually required by the loan company if a car is financed, so if the car is totaled the company will be able to get their money back.

There is also an option to add rental and/or towing fee coverage onto an insurance policy. This is so the insurance company will cover the fees to have a car towed from an accident site and to have a rental car to go on about everyday life while a car gets fixed. While not required, it may be good for people who do not have the money to pay for these things themselves to add this onto their Arkansas car insurance policy.

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