Finding decent, low-priced car insurance is tough enough, and determining which companies quote the best car insurance rates for high risk drivers requires even more rate comparisons. Each insurer uses their own method for filing rates in each state, so let’s begin by examining the most budget-friendly car insurance companies in Omaha, NE.
Find Cheaper Auto Insurance for Risky Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $780 |
| 2 | The Hartford | $873 |
| 3 | Auto-Owners | $896 |
| 4 | Allied | $911 |
| 5 | Farm Bureau Mutual | $980 |
| 6 | Farmers Mutual of Nebraska | $1,009 |
| 7 | Nationwide | $1,027 |
| 8 | State Farm | $1,065 |
| 9 | American National | $1,098 |
| 10 | General Casualty | $1,125 |
| 11 | USAA | $1,150 |
| 12 | California Casualty | $1,257 |
| 13 | American Family | $1,284 |
| 14 | EMC | $1,314 |
| 15 | MetLife | $1,332 |
| 16 | Iowa Mutual | $1,334 |
| 17 | GEICO | $1,362 |
| 18 | Progressive | $1,460 |
| 19 | Farmers | $1,634 |
| 20 | North Star | $1,710 |
| Quote Your Rates Go | ||
Safeco may have some of the lowest car insurance rates in Omaha at around $780 per year. This is $536 less than the average price paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual also make the cut as some of the most economical Omaha, NE auto insurance companies.
As depicted above, if you are currently insured with The Hartford and switched to Safeco, you may realize a yearly price reduction of approximately $93. Drivers with Auto-Owners may save as much as $116 a year, and Allied insureds might lower prices by up to $131 a year.
These premiums are averaged for all insureds and vehicles and and are not figured with an exact location for high risk drivers. So the insurer that has the lowest price for you may not even be in the list above. That illustrates why you need to get car insurance quotes using your own driver information and specific vehicle type.
One of the many considerations that determine the amount you pay each year for auto insurance is where you live in Omaha. Cities with more crime and/or more people tend to have more expensive car insurance rates, whereas more rural areas profit from lower rates.
The next table lists the highest-priced places in Nebraska for high risk drivers in which to purchase auto insurance. Omaha makes the list at #6 with the annual price of $1,270 for the average policyholder, which is approximately $106 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Scottsbluff | $1,360 |
| 2 | Alliance | $1,354 |
| 3 | Gering | $1,303 |
| 4 | Lexington | $1,303 |
| 5 | McCook | $1,279 |
| 6 | Omaha | $1,270 |
| 7 | South Sioux City | $1,264 |
| 8 | North Platte | $1,250 |
| 9 | Kearney | $1,236 |
| 10 | Crete | $1,234 |
| 11 | Beatrice | $1,222 |
| 12 | Blair | $1,200 |
| 13 | York | $1,191 |
| 14 | Columbus | $1,185 |
| 15 | Seward | $1,179 |
| 16 | Bellevue | $1,179 |
| 17 | Fremont | $1,177 |
| 18 | Nebraska City | $1,176 |
| 19 | Grand Island | $1,170 |
| 20 | Hastings | $1,147 |
| Find Cheaper Rates Go | ||
Annual rates are approximated as zip code location can modify price quotes significantly.
Rate difference between full and liability-only coverage
Saving money on car insurance should be important to most drivers, and a good way to buy cheaper insurance for high risk drivers is to buy liability only. The illustration below compares insurance costs with full coverage and liability only. The premiums assume no claims or violations, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.
As an average for all age groups, physical damage insurance costs $1,681 per year over and above liability coverage. Many drivers will wonder if paying for full coverage is worth it. There is no exact rule of when to phase out comp and collision coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
There are a few cases where removing full coverage is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage.
Types of discounts on Omaha insurance rates
Insurance companies that offer cheap quotes for high risk drivers may have discounts that could potentially reduce rates by as much as 35% or more if you are eligible to receive them. Large car insurance companies and a summarized list of policyholder discounts are detailed below.
- GEICO discounts include good student, air bags, anti-lock brakes, defensive driver, multi-policy, and five-year accident-free.
- Auto-Owners Insurance offers discounts including teen driver, student away at school, mature driver, safe driver, and multiple vehicles.
- American Family may include discounts for bundled insurance, multi-vehicle, air bags, mySafetyValet, and good student.
- Esurance has discounts for paid-in-full, claim free, Switch & Save, online quote, and anti-theft.
- Progressive offers premium reductions for online quote discount, good student, online signing, homeowner, continuous coverage, and multi-vehicle.
- State Farm offers discounts for safe vehicle, anti-theft, accident-free, defensive driving training, Steer Clear safe driver discount, and good driver.
- AAA policyholders can earn discounts including education and occupation, anti-theft, AAA membership discount, multi-car, pay-in-full, good student, and good driver.
The chart below visualizes the comparison of car insurance rates with and without discounts applied to the premium. The information is based on a male driver, one violation and one accident, Nebraska state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with multiple vehicle, marriage, continuous coverage, passive restraint, homeowner, and vehicle safety discounts applied. When discounts are factored in, theamount saved on car insurance for high risk drivers is 28% or $801.
Your low-price policy may be costing you money
Omaha, NE car insurance rates are determined by lots of factors that may substantially change the cost of a policy. Turning one year older, marrying your spouse, or having a fender bender may prompt premium changes resulting in some rates now being more affordable than others.
In addition, insurance companies file new rates multiple times each year as an adjustment for underwriting gains or losses. An extended period of higher than normal claims may result in higher prices, while lower claim expenses can cause cheaper Omaha car insurance rates.
To illustrate this example, the bar chart below shows the company with the cheapest car insurance in Omaha, NE for a 40-year-old male driver with no accidents or violations, and a decent credit rating. If we estimate prices based on his current situation, Safeco may have the lowest car insurance rates in Omaha at $924 each year. This is $392 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Nationwide are the remainder of the most affordable Omaha, NE auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates a chargeable claim, a little lower credit rating, and a few traffic violations. Because each company uses their own formula to determine rates, comparing prices may now result in a different set of cheap Omaha auto insurance companies as shown below.
Farm Bureau Mutual now has the cheapest rate in Omaha with State Farm, American National, General Casualty, and USAA now being in the top five. This example shows why consumers need to do a thorough rate comparison when trying to find the most affordable car insurance quotes for high risk drivers.
Insurance rates can be altered by many different factors and change dramatically, so the best price when you bought your policy may now be one of the more expensive options.
If you aren’t sure which coverage to buy and prefer to have some advice when shopping around for cheaper insurance for high risk drivers, the professional agents shown below can most likely answer your questions and help you decide which car insurance policy is best. To locate an agency close to you, click the button at the bottom of the list or click here to get price quotes now.
Jay Bergmeier – State Farm Insurance Agent
16707 Q St – Omaha, NE 68135 – (402) 895-7500
Matt Dougherty – State Farm Insurance Agent
4910 Dodge St – Omaha, NE 68132 – (402) 884-2870
Ryan Hedden – State Farm Insurance Agent
8611 Blondo St – Omaha, NE 68134 – (402) 392-1939
Omaha Division Insurance
14792 Ray Sapp Dr – Omaha, NE 68138 – (402) 334-7087