More on Home Insurance
More on Home Insurance
The cost of homeowners insurance in Nebraska is $2,608 a year for the average amount of coverage. Nebraska residents can compare rates from multiple companies with Policygenius.
Published September 14, 2020|6 min read
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Homeowners insurance is essential financial protection for the 66% of Nebraska residents who own a home. Homeowners insurance covers your house, personal property, and assets in the event that the unexpected happens.
The statewide average cost of homeowners insurance in Nebraska is $2,608 per year, but policy premiums can differ greatly based on specific factors related to your home and the details of your policy. Your rates will be directly impacted by your home’s condition and style of build, its location, your credit and claims history, and your policy deductible amount. Rates also vary from company to company for the same level of coverage, which is why it’s so important to compare policies from different companies — that’s where we come in.
To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Nebraska offered through our website. We also calculated the cheapest and most expensive cities in Nebraska for home insurance based on hundreds of submitted quotes.
The average cost of homeowners insurance in Nebraska is $2,608 for $100,000–500,000 in coverage
The cheapest homeowners insurance company in Nebraska is Travelers, according to Policygenius quote data
When deciding on policy coverage, Nebraska residents should consider the state’s severe thunderstorms and tornadoes
A great homeowners insurance company is financially stable, has dependable customer service, affordable coverage, flexible policy options, and high quality discounts.
Travelers provides the cheapest Nebraska home insurance quote of any Policygenius partner carrier. The average quote with Travelers is $1,988 for $100,000–500,000 in coverage, which is over $500 cheaper than the statewide average of $2,608. If you’re a Nebraska homeowner looking for a budget pick, Travelers may be your best bet.
Read our full review of Travelers here
If you’re a Nebraska homeowner looking for personalized and customized coverage, you should consider Encompass. Encompass has three separate coverage packages that include all of the primary coverages you find in a standard home insurance policy, as well as several coverage enhancements and policy add-ons like replacement cost coverage, water backup protection, identity theft protection, fine art protection, and more.
Read our full review of Encompass here
Because of the state’s frequent tornadoes, Nebraska homeowners may want to look into maximizing the coverage for the structure of their homes. Safeco has four comprehensive tiers of coverage, which all include the option to add extended replacement cost, a policy add-on that increases your home’s coverage limits an additional 25% or 50% if rebuild costs exceed your dwelling coverage amount. Safeco’s “Premier Plan”, its highest level of coverage, includes guaranteed replacement cost, which pays for a rebuild of your home regardless of the price.
Read our full review of Safeco here
An insurance company’s financial stability is important — you want an insurer that is reliable and trustworthy. A.M. Best is the most reliable credit-rating tool policyholders can use to gauge the financial health of a particular company. A good score with A.M. Best means a company is more likely to fulfill their financial obligation to you when it comes time to file a claim. With a score of A+, Progressive has close to the highest rating a company can receive from A.M. Best.
Progressive also has high ratings with Standard & Poors, which measures long-term financial stability, as well as Moody’s, which measures what the expected losses would be if a company were to go into default.
Read our full review of Progressive here
If you’re a Nebraska homeowner looking to get a quote quickly and easily, Hippo may be your best option. The application process with Hippo is faster than any other homeowners insurance company we’ve reviewed in Nebraska. Hippo has a seamless online application process: all you need to do is type in a few details about your home and you get a quote in under a minute.
Read our full review of Hippo here
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When comparing insurance companies, Nebraska residents may find that rates differ greatly from company to company for the same level of coverage. A more expensive policy may provide more coverage add-ons in a basic plan than their competitors, but some companies may simply charge more for coverage in certain areas than others.
After reviewing hundreds of quotes submitted with Policygenius, we found that Travelers is the cheapest insurance company in Nebraska with an average annual premium of $1,988 for $100,000–500,000 in coverage. MetLife is the most expensive with an annual premium of $3,251 for the same amount of coverage.
The average cost of homeowners insurance in Nebraska will also differ considerably based on the amount of insurance you have for your home. Below is the average homeowners insurance quoted rates for five different levels of coverage.
|Coverage Amount||Average Cost|
|Greater than $500,000||$ 4,611|
Insurance companies will also price policies differently based on where you live. We found Lincoln has the lowest rates in the state with a $1,981 average annual premium for $100,000-500,000 in coverage. The most expensive area on average is Grand Island with an annual premium of $4,210 for the same amount of coverage.
We selected the 15 largest cities in Nebraska by population where customers have submitted quotes with Policygenius. Quotes are based on a coverage amount between $100,000 and 500,000.
Thunder and lightning storms are the most common and most expensive threats to Nebraska homeowners, with storms costing the state $87.8 million per year in annualized property losses. Nebraska is located in the so-called Tornado Alley, and the spring and summer months can also bring hail storms and tornadoes to the Cornhusker State.
Come winter months, Nebraska, especially in the northern and panhandle areas of the state, can experience heavy snowfall. Although homeowners insurance cover repairs if the weight of snow and ice causes your roof to fall through or damages your foundation, homeowners should try to keep their roofs clear of ice dams and excessive snow.
No, homeowners insurance does not cover flooding in Nebraska or any of the other 49 states. Though Nebraska is a landlocked state, residents are still at risk for flooding, with floods costing $10.6 million per year in annualized property losses.
State residents can supplement that gap in coverage by purchasing a flood insurance policy. Flood insurance can typically be purchased through the same insurance company that insures your home. Most flood policies are sold by private companies but administered by the federal government’s National Flood Insurance Program (NFIP). An NFIP flood policy can cover up to $250,00 for the structure of your home and up to $100,000 for personal belongings.
The Nebraska Department of Insurance is a valuable resource both for Nebraska homeowners purchasing coverage for the first time or for those who are already insured. The NDI website has helpful information about what to prioritize when selecting your coverage, preparing for natural disasters, and filing complaints.
Homeowners insurance companies can cancel your insurance for a number of reasons — maybe the insurance company no longer offers coverage where you live, or maybe they determined your home was too risky to insure after a recent inspection.
Unlike other states, Nebraska doesn’t offer Fair Access to Insurance Requirements (FAIR) Plan. If you’re unable to get homeowners insurance with a standard carrier, look into coverage with a surplus or excess lines insurer. Surplus carriers specialize in risks that are typically rejected by traditional insurance companies.
A couple of downsides to getting coverage through a surplus carrier is it’s typically expensive and the companies aren’t admitted with the state, meaning they aren’t subject to the same rules and regulations as traditional insurance companies. But surplus lines coverage is a solid option if you’re an Nebraska resident looking for last minute coverage.
Not where you live? We've got you covered, check out our guide to homeowners insurance in your state