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 Information Services, discounts, J.D. Power customer satisfaction scores and AM Best financial strength ratings.
|Home insurance company||Average annual premium for $250k dwelling||J.D. Power score|
Allstate’s home insurance premiums are more expensive than average, but it is one of the top Nebraska homeowners insurance companies. 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 $2,001. The company offers standard policies with a few optional coverages, like credit card fraud, food spoilage, sump pump backup and more. In addition to low rates, Farmers Mutual offers discounts for impact resistant roofs, new homes, having a home security system and bundling your policies, such as home and auto.
State Farm is the largest home insurance company in the U.S. by market share, with $19.7 billion in direct premiums written, and 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. The company also has a network of agents across the state to serve customers who like to handle their insurance needs in person. Nebraska homeowners can take advantage of discounts for having a home security system, reinforced roof and bundling your home and auto insurance policies.
Learn more: State Farm Insurance review
How much is homeowners insurance in Nebraska?
The average cost of homeowners insurance in Nebraska is $2,816 per year for a policy with $250K in dwelling coverage, which is more than double the national average premium of $1,312 for the same amount of coverage. Home insurance in Nebraska is high because of the state’s numerous severe weather risks.
Generally speaking, Nebraska homeowners insurance and areas in the Heartland tend to be more expensive than other regions, especially states located in Tornado Alley. But of the Midwestern states, Nebraska has one of the highest average annual premiums. The only Midwest state with a more expensive home insurance premium is Oklahoma, where homeowners pay $3,519 on average.
Keep in mind that if your home is damaged or destroyed 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 in Nebraska
Nebraska experiences some of the most tumultuous weather in the country. Having a comprehensive homeowners insurance policy can help protect your home and your family from the financial impacts of severe weather risks. Keep in mind that you may need to purchase endorsements for adequate protection.
Common causes of loss in Nebraska
The most common causes of home insurance losses in Nebraska are related to flooding, tornadoes and hail:
- Tornadoes: There were 35 tornadoes in Nebraska in 2020, according to the Triple-I. 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 areas of Nebraska. The same year, the Missouri River flooded, causing $10.7 billion in damages. Flooding is not typically covered through a standard home insurance policy and coverage must be purchased separately.
- Storms: A derecho, an inland hurricane, was one of the country’s most destructive weather events in 2020 and started in Nebraska, causing damage across several Midwest states.
Home insurance coverage options 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 endorsements for more protection. Some common additional coverages include:
- Flood insurance: Flood damage is not covered by standard homeowners insurance policies, so many insurance experts recommend you consider purchasing separate flood insurance. In Nebraska, the average cost of flood insurance is $704.11 per year. Flood insurance is available through the federally-backed National Flood Insurance Program and dozens of private insurers.
- Scheduled personal property coverage: Home insurance policies often offer limited coverage for valuables. If you own 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 to protect 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?
Having homeowners insurance is not a legal requirement in Nebraska or any other state, but if you have a mortgage, your lender will most likely require you to have this coverage. Homeowners insurance provides you and your family with financial peace of mind. Without adequate insurance coverage, you would be required to pay entirely out-of-pocket to repair damages to your home or to rebuild it after a total loss, which could be financially devastating.
How much does homeowners insurance cost in Nebraska?
On average, homeowners insurance companies in Nebraska charge $2,816 in premium per year for a policy that includes $250K in dwelling coverage. However, your home insurance rate is calculated based numerous rating factors, including the age, size and construction of your home, your credit score, your proximity to a fire station and fire hydrants, claims history, ZIP code, area hazards and more.
What is the best homeowners insurance in Nebraska?
The best homeowners insurance 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 a variety of endorsements.
How do I get homeowners insurance in Nebraska?
To purchase 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 obtain a quote, you will be asked to provide some information about yourself and your home, such as your name, property address, birth date and Social Security number. Pick the company that offers the best Nebraska homeowners insurance rate for the coverage you need and make sure you review the policy’s fine print with an agent before proceeding so there are no surprises.
Bankrate utilizes Quadrant Information Services to analyze 2021 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 will differ.