Best homeowners insurance in Nebraska of 2021
The average cost of home insurance in Nebraska is expensive—$2,787 per year on average, for $250K in dwelling coverage. Homeowners in Nebraska pay almost 90% more for home insurance than the average American.
In the state of Nebraska, about 66% of residents own their home. That is right around the national average homeownership rate of nearly 64%. Homes in Nebraska are susceptible to damage from tornadoes, floods and even blizzards, so having home insurance is essential.
Before you purchase a home insurance policy, it is important to do some research. Think about how much coverage you need based on the rebuild cost of your home and your personal items. You should also look into endorsement policies and determine what deductible you can afford.
The top home insurance companies in Nebraska
Every home insurance company has pros and cons. To help you find an insurance provider that fits your needs and budget, we put together a list of the best Nebraska home insurance companies based on coverage options, average 2021 rates from Quadrant Data Services, discounts and customer satisfaction scores.
|Home insurance company||Average annual premium for $250K dwelling||J.D. Power customer satisfaction score|
Allstate’s home insurance premiums are more expensive than average, but it is one of the top home insurance companies in Nebraska. You can increase your coverage with add-ons like yard and garden coverage, musical instrument coverage and sports equipment coverage. The company also offers generous discounts for insuring a newly constructed home, enrolling in automatic payments, bundling your policies, being claims-free and more to eligible policyholders.
Learn more: Allstate Insurance review
Farmers offers three tiers of home insurance—Standard, Enhanced and Premier—that have varying levels of coverage. Every package is customizable with the option to adjust your policy limits or add endorsements, like identity theft coverage, eco-rebuild coverage or contents replacement cost coverage. For a lower premium, you can ask about discounts you are eligible for, enroll in the declining deductible program or bundle your home and auto insurance policy.
Learn more: Farmers Insurance review
Farmers Mutual is one of the cheapest home insurance companies in Nebraska, with an average annual premium of $1,978. The company offers standard policies with a few optional coverages, like credit card fraud coverage, food spoilage coverage, sump pump backup coverage and more. In addition to low rates, Farmers Mutual has discounts for impact resistant roofs, new homes, having a home security system and bundling your policies.
MetLife’s standard home insurance policies come with a high level of coverage, despite the below-average rate. Home insurance from MetLife includes dwelling and personal property replacement cost coverage, as well as identity theft coverage. MetLife does not offer many discounts, but you might save an average of more than $900 per year when you bundle a home and auto insurance policy.
Learn more: MetLife Insurance review
State Farm is the largest home insurance company in the country, and it is a popular provider in Nebraska. State Farm’s home insurance coverage is pretty basic, but the company offers helpful online tools and resources, which is ideal for first-time home insurance buyers. Nebraska homeowners can take advantage of discounts for having a home security system, having a reinforced roof and bundling a home and auto insurance policy.
Learn more: State Farm Insurance review
Average homeowners insurance cost in Nebraska
The average cost of homeowners insurance in Nebraska is $2,787 per year for a policy with $250K in dwelling coverage. For comparison, the average American homeowner pays $1,477 for the same amount of coverage. Home insurance in Nebraska is significantly higher than average because of the state’s severe weather risks.
Generally speaking, homeowners insurance in the middle of the country tends to be more expensive, especially states located in Tornado Alley. But of the midwestern states, Nebraska has one of the highest premiums. The only state with a more expensive home insurance premium is Kansas, where homeowners pay $3,019 on average.
Keep in mind that if your home is damaged by a natural disaster, like a tornado, your home insurance policy’s hazard insurance will cover structural repairs, assuming there is no flood damage. The rest of your insurance policy will help you replace personal items.
Home insurance considerations in Nebraska
Nebraska experiences some of the most tumultuous weather in the country. Having a comprehensive homeowners insurance policy can help protect your home from severe weather risks. Keep in mind that you may need to purchase endorsements for adequate protection.
Nebraska common causes of loss
In the state of Nebraska, the most common causes of home insurance losses are related to flooding, tornadoes and hail:
- Tornadoes: There were 33 tornadoes in Nebraska in 2017, and 45 tornadoes in 2016. Tornadoes can strike at any time, and homes across the state are at risk of severe damage and destruction.
- Flooding: The 2019 Mississippi River flood cost $6.2 billion to repair damage across the southern plains, including in Nebraska. The same year, the Missouri River flooded causing $10.7 billion in damages.
- Storms: In June 2017, a major storm brought strong hail and wind storms to Nebraska and surrounding states, in addition to more than a dozen tornadoes. The estimated cost of that weather event was about $1.4 billion in losses and damage.
Common home insurance coverages in Nebraska
All homeowners insurance companies in Nebraska offer standard coverages, including dwelling, personal property, liability, medical payments and additional living expenses insurance. However, Nebraska homeowners often consider purchasing endorsement policies for more protection. Some common coverages include:
- Flood insurance: Flood damage is not covered by homeowners insurance, so some people want to purchase a separate flood insurance. In Nebraska, the average cost of flood insurance is $704.11 per year. Most major insurance providers sell flood insurance, and it is also available through the federal National Flood Insurance Program.
- Scheduled personal property coverage: Home insurance policies often offer limited coverage for valuables. If you keep expensive items like art, jewelry, collections or electronics in your house, consider asking an insurance agent about scheduled personal property insurance to see if you need more coverage for those belongings.
- Dwelling replacement cost coverage: If your home is completely destroyed in a covered peril or weather event, dwelling replacement cost coverage will allow you to rebuild your home back to its original condition, without depreciation.
Frequently asked questions
Is homeowners insurance required in Nebraska?
No, homeowners insurance is not a legal requirement in Nebraska, but if you have a mortgage, your mortgage lender may require you to have it. Either way, having homeowners insurance is extremely valuable. Without insurance, you have to pay entirely out-of-pocket to repair damages to your home or to rebuild it after a total loss.
How much does homeowners insurance cost in Nebraska?
On average, homeowners insurance companies in Nebraska charge $2,787 per year for a policy that comes with $250K in dwelling coverage. However, your home insurance rate is calculated based on the age of your home, credit score, gender, ZIP code, size of your home, if you have an anti-theft or fire system installed, your claims history and more.
What is the best homeowners insurance in Nebraska?
The best homeowners insurance company in Nebraska is different for every homeowner. The best company for you is the one that offers the type of coverage you need at a price you can afford. For instance, if saving money is your priority, look for a company that offers lots of discounts. If you care more about coverage, look for a company that offers good endorsements.
How do I get homeowners insurance in Nebraska?
To get Nebraska homeowners insurance, use our guide and do your own research to find a handful of insurance companies that offer the coverage you need. Then, you will want to get a home insurance quote online or through an agent. To determine your rate, you will be asked to provide some information about yourself and your home. Pick the company that offers the best rate for the coverage you need, walk through the fine print with an agent and sign a policy.
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
Rates are determined based on 2020 Quadrant Information Services data.