Table of contents
How much is car insurance in Sherwood?
|Area||Average Monthly Car Insurance Premium|
You can see in the chart above that it's around $11 a month more expensive to insure your vehicle in Sherwood than it is in the rest of Arkansas.
Drivers relocating from out of state may enjoy some cost savings in Sherwood. The average monthly payment in Sherwood is about $7 less than the rate for the rest of the United States.
These may be the average auto insurance rates for Sherwood, but that doesn't mean it's exactly what you'll pay. There are a variety of factors that car insurance companies consider to determine how much to charge you to insure your vehicle. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect your monthly premium.
We've broken down average rates for Sherwood to help you understand what your policy's monthly premium will cost. And if you're not sure that you're paying the lowest option, simply enter your ZIP Code below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads. That experience can lead to some serious savings when it comes to car insurance bills. In this case, 18-24-year-olds pay significantly more than drivers 65 and older.
You can expect to see a decrease in your monthly premium drop about once a decade or so. Once you hit retirement age, however, you may see your rates climb back up in Sherwood.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. The difference in average rates in Sherwood totals about $6 per month. As illustrated in the table above, female drivers in the area pay about $70 on average, while male drivers pay around $76 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Accidents||Not Enough Data|
Depending on your driving record, your rates can vary quite a lot. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. In Sherwood, drivers with one accident on their record will experience rates around $109 a month. In addition, drivers with a single ticket on their record can expect to pay around $97 a month on average.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. In order to minimize your monthly rate, practice safe driving habits and keep your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$114|
|15 Years or Older||$69|
According to the first table above, the cheapest vehicles to insure in Sherwood are by and large SUVs and cars, at $73 per month.
Truck and van drivers will see rates of about $91 for insurance coverage, while SUV owners typically pay around $73 a month.
You may also see different rates based on your vehicle's age. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is around 5 years old you may start to see your rates drop back down a bit. In Sherwood, the most expensive vehicles to insure are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$77|
Generally, people who are married will pay slightly less for auto insurance coverage. This occurs because insurance companies commonly award special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in Sherwood can be as much as $17 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$82|
One other element taken into consideration is your housing situation. If you rent your home or apartment, expect to pay around $3 a month more than those who own their own home in Sherwood. But if you live with your parents, you can expect to pay a lot more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your overall costs, depending on your insurance company.
Car Insurance Companies in Sherwood, AR
Recent trends in car insurance for Sherwood drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before choosing when and where to shop.
Car insurance rates in Sherwood increased from 2016-2018, before steadying out in 2019. They finished down in 2021, at $78 per month
How does Sherwood compare to neighboring areas?
Why are car insurance rates in Sherwood different from other areas?
Car insurance companies will take into account a lot of factors when they're choosing how much to charge for a policy. The specifics of where you live and drive will have an impact on your personal policy. This might include things like:
- Regional regulations
- Total number of drivers in the area
- Amount of off-street parking
- Road Safety (how many accidents each locality has)
- Rate of crime
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Sherwood?
In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.
Don't worry, Compare.com will handle the heavy lifting for you. Enter your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies offering plans in Sherwood.
Sherwood Insurance FAQs
What factors affect car insurance quotes in Sherwood?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Sherwood different from other neighboring cities?
Local laws, crime rates, and parking situations -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Sherwood?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Sherwood?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Sherwood or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.