Best Home Insurance Rates In Nebraska

On average, your neighbors pay $113 a month.

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Compare Homeowners Insurance In Nebraska

The Cornhusker State is one of the country’s largest producers of beef, pork, soybeans, and, appropriately, corn. Nebraska is also the home of Kool-Aid, Warren Buffett, the world’s second richest man and the company he is CEO of, Berkshire Hathaway. However, because it’s in the midst of Tornado Alley, Nebraska is also home to many homeowners insurance hazards.

Average Nebraska Homeowners Insurance Rates

How much is home insurance in Nebraska? Homeowners insurance premiums in Nebraska are higher than average. The average cost of homeowners insurance in the state of Nebraska is $1,360. That's a bit more than the national average of $1,173. Ten states have higher average home insurance rates than Nebraska.

Nebraska Average Annual Homeowners Insurance Rates
  2013 2014 2015
Nebraska Annual Average $1,151 $1,226 $1,360
Nebraska Price Per Month $96 $102 $113
US Annual Average $1,096 $1,132 $1,173
US Cost Per Month $91 $94 $98
National Rank 16 15 11
Source: Facts + Statistics: Homeowners insurance

The graph below shows the change in average Nebraska home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Nebraska homeowners insurance rates increased from $958 in 2011 to $1,360 in 2015, a jump of $402 dollars, or 41.96 percent.

Nebraska average homeowners insurance rates

Choosing a homeowners insurance company in Nebraska should be easier. Actually, it’s already easy. The key to finding the best rates is to compare home insurance quotes in Nebraska

Best Nebraska Home Insurance Companies

Last year, these were the most common home insurance companies reported by QuoteWizard users living in the state of Nebraska. Out of the 4,920 Nebraska homeowners that used QuoteWizard to request insurance quotes last year, 211 had no home insurance.

  1. Farmers
  2. Allstate
  3. Progressive
  4. American Family
  5. Geico
  6. Nationwide
  7. Liberty Mutual
  8. USAA
  9. AAA
  10. Travelers
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Best Homeowners Insurance Companies in Nebraska

The above list shows the most popular home insurers in Nebraska according to our users. But popular doesn’t always mean best.

Our study on the Best Homeowners Insurance Companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:

  1. Amica: Best Overall
  2. MetLife: Best for Bundling
  3. Allstate: Best for Local Agents
  4. Hartford: Best for Seniors
  5. State Farm: Best for Pet Owners
  6. Travelers: Best for Flexible Policies
  7. Nationwide: Best Replacement Coverage
  8. Farmers: Best for Eco-Friendly Homes
  9. Liberty Mutual: Best for Quick and Easy Quotes
  10. Auto Owners Insurance: Best Claims Experience
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Top Nebraska Homeowners Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Financial Rating Market Share
1 Farmers Mutual Insurance Company of Nebraska NR 12.13%
2 American Family A 9.24%
3 Iowa Farm Burea A 9.11%
4 Nationwide A+ 7.59%
5 Farmers Insurance A 5.27%
6 Allstate A+ 4.85%
7 USAA A++ 4.55%
8 Liberty Mutual $17,993 3.04%
9 Travelers A++ 2.67%
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Nebraska Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Nebraska.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For Nebraska, the average listing price is $202,233, as of July 2015, which is substantially lower than the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums. That's because the likelihood that someone will need to file a claim is higher. In 2013, Nebraska’s average burglary rate was 476.3 per 100,000 people, which is much lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Nebraska, there are 37.4 law enforcement personnel per 100,000 total citizens, which is slightly higher than the national median of 32 per 100,000.

Home Insurance Hazards

As is typical of a Midwestern state, Nebraska experiences long, hot summers and very cold winters. Its position in Tornado Alley makes tornadoes and thunderstorms a common occurrence in Nebraska as well.

Long, hot summers: Summer in Nebraska often begin in May and don’t end until late September, and average temperatures are at or above 80 degrees through September. Like much of the Midwest, summers are often relatively humid, though not nearly as humid as states further south. The humidity combines with the heat to make it feel even hotter, though the western part of the state is much drier and less humid than the east. Throughout the state, average temperatures in July and August are closer to 90 degrees. During these hot months, people often turn up the A/C, possibly causing power outages. Heat waves, or prolonged periods of abnormally hot weather, are also possible during these months.

Cold winters: High temperatures during winter in Nebraska are between 30 and 40 degrees, but low temperatures vary much more. Some cities in western Nebraska, such as Chadron, have average winter lows of 10 degrees. In eastern Nebraska, low temperatures are higher on average. For example, Omaha has average winter lows of about 17 degrees. On average, Nebraska experiences about 19 days of snow per year, and about 26 inches of snow annually. Just as the western side of the state is colder on average, it also experiences more snow. Scottsbluff, a western town, averages 27 days of snow per year, and about 42 inches of snow annually. However, Lincoln, on the east, receives on average 18 days of snow and only about 26 inches per year. This variation is due to the impact of the Rocky Mountains to the west.

Thunderstorms: Thunderstorms are most common during the spring and summer, but can occur year-round. Nebraska frequently experiences severe thunderstorms. These thunderstorms contribute a great deal to Nebraska’s average 24 inches of rainfall per year. However, unlike snow patterns, western Nebraska experiences less rain and fewer thunderstorms than eastern Nebraska. In the west, the average is about 17 inches of rain per year, whereas in the east, it’s closer to 30 inches per year. Severe thunderstorms are very damaging, and can be accompanied by heavy rain, strong winds, lightning, hail, and flooding. Flooding can be devastating, especially for flatter parts of the state in the east. It is important to note that the only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Tornadoes: Due to its location in “Tornado Alley”, tornadoes are extremely common in Nebraska. Nebraska averages 36 tornadoes per year. In 2012, the National Weather Service ranked Nebraska the #6 most tornado-prone state in the US. Tornado season occurs during spring and summer, though in Nebraska, tornadoes can occur in autumn as well.

Nebraska Department of Insurance

Website:
Homepage
Insurance Commissioner:
Bruce R. Ramge
Insurance Hotline:
(877) 564 – 7323
Office Hours:
Monday - Friday
8:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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