Average renters insurance cost in Fort Smith, AR

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

In Fort Smith, the average cost of renters insurance is $310 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $36 less than the state average of $346 per year.

Renters insurance costs can vary based on the coverage you choose and the amount of liability protection included in your policy. If you’re living in a rental, it’s a smart way to protect your personal belongings from things like fire, smoke, theft, vandalism, and other covered incidents.

Let’s take a look at the cheapest renters insurance options in Fort Smith.

Key Takeaways

The average cost of renters insurance in Fort Smith is $310 annually or $26 monthly.
The cheapest option for renters in Fort Smith is State Farm, offering coverage at $10 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as installing a security system or bundling policies.

What is the average cost of renters insurance per month in Fort Smith?

The average monthly cost of renters insurance in Fort Smith is $26, which is $3 less than the state average of $29. This rate is for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Fort Smith pay $19 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $7.

Higher coverage limits are recommended if you own valuable items like jewelry, furniture, and electronics.

How much is renters insurance in Fort Smith by deductible?

Renters insurance in Fort Smith costs $246 per year for a $500 deductible and $20,000 in personal property coverage.

Your deductible is the amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same (e.g., $20,000) but you increase your deductible limit from $500 to $1,000, you will pay $21 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$246	$338	$433
$1,000	$225	$310	$398

Note: The liability protection coverage is $100,000.

Who offers cheap renters insurance in Fort Smith?

Your search for the cheapest renters insurance company ends here.

State Farm offers the cheapest renters insurance in Fort Smith at $123 a year or $10 per month. According to our data, Nationwide ranks second on our list followed by Farm Bureau Insurance of Arkansas.

Below are the average annual and monthly rates of the cheap renters insurance companies in Fort Smith.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$123	$10
Nationwide	$231	$19
Farm Bureau Insurance of Arkansas	$306	$26
Shelter Insurance	$326	$27
Auto-Owners	$365	$30
Farmers	$384	$32
Allstate	$400	$33
Travelers	$729	$61
USAA	$176	$15

Tips for reducing the cost of renters insurance

Below are some tips to help you save on renters insurance in Fort Smith:

Bundle policies. If you have other policies through the same insurer, such as car insurance, bundling it with the same provider can often earn you a discount. Many insurers in Fort Smith offer savings for bundling policies.

Increase your deductible. Choosing a higher deductible can lower your premium, but ensure you’re prepared to cover the higher out-of-pocket costs if you need to file a claim.

Choose the right coverage amount. Regularly review your renters insurance to avoid paying for more coverage than you need. For example, you might opt for lower personal property coverage if you don’t own high-value items.

Limit small claims. Filing multiple small claims can drive up your rates. Consider paying for minor damages yourself to keep your premium low.

Shop around for quotes. Don’t settle for the first offer. Compare renters insurance rates from multiple providers in Fort Smith to find the best coverage at the lowest price.

Renters in Fort Smith should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Fort Smith in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

How much is renters insurance in other cities?

Fayetteville

Jonesboro

Little Rock

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.