Establishing which companies have the cheapest car insurance rates for drivers under 21 takes a bit more work than just comparing a company or two. Each auto insurance company used slightly different criteria to establish rates, so to begin we’ll rank the lowest cost car insurance companies in Omaha, NE.
It’s a good idea to know that Omaha, NE car insurance rates are impacted by many factors which can substantially change the price you have to pay for coverage. Getting older, moving to a different location, or getting a reckless driving citation can cause premium changes resulting in some companies being much cheaper than others.
Best Insurance Companies for Minors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $780 |
| 2 | The Hartford | $865 |
| 3 | Auto-Owners | $905 |
| 4 | Allied | $921 |
| 5 | Farmers Mutual of Nebraska | $989 |
| 6 | Farm Bureau Mutual | $1,010 |
| 7 | Nationwide | $1,037 |
| 8 | State Farm | $1,065 |
| 9 | General Casualty | $1,081 |
| 10 | American National | $1,098 |
| 11 | USAA | $1,128 |
| 12 | California Casualty | $1,270 |
| 13 | MetLife | $1,293 |
| 14 | American Family | $1,296 |
| 15 | Iowa Mutual | $1,308 |
| 16 | GEICO | $1,322 |
| 17 | EMC | $1,354 |
| 18 | Progressive | $1,460 |
| 19 | Farmers | $1,602 |
| 20 | North Star | $1,710 |
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Safeco normally has some of the lowest car insurance rates in Omaha at around $780 per year. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska would also be considered some of the best Omaha, NE car insurance companies.
As illustrated above, if you have coverage with Allied and switched to Safeco, you may realize an annual savings of in the vicinity of $141. Insureds with Farmers Mutual of Nebraska might save as much as $209 a year, and Farm Bureau Mutual policyholders might reduce prices by as much as $230 a year.
If you want to see how much you could save, click here to start a quote or visit several of the following companies.
Bear in mind that those estimates are averages across all drivers and vehicles and do not factor in an exact vehicle garaging location for drivers under 21. So the auto insurance company that is most affordable for your situation may not even be in the top 24 companies in the list above. That point stresses why you need to get car insurance quotes using your own specific driver and vehicle information.
The type of vehicle requiring coverage is one of the primary factors when looking for economical insurance for drivers under 21. Vehicles with higher performance, a lack of advanced safety features, or a history of substantial liability claims will cost substantially more to insure than safer models. The table below features insurance costs for some of the most cost-effective vehicles to insure in Nebraska.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $3,421 |
| Ford Escape XLT 2WD | $3,427 |
| Honda Accord EX 4-Dr Sedan | $3,421 |
| Hyundai Elantra GLS Touring Station Wagon | $3,427 |
| Toyota Prius | $3,750 |
| Honda Odyssey LX | $3,777 |
| Ford F-150 STX Regular Cab 2WD | $3,782 |
| Volkswagen Jetta S 4-Dr Sedan | $4,062 |
| Nissan Altima 2.5 4-Dr Sedan | $4,071 |
| GMC Sierra SL Extended Cab 2WD | $4,062 |
| Jeep Grand Cherokee Laredo 4WD | $4,071 |
| Toyota RAV4 Limited 4WD | $4,062 |
| Chevrolet Equinox LS 2WD | $4,070 |
| Dodge Grand Caravan SXT | $4,106 |
| Ford Explorer Eddie Bauer AWD | $4,113 |
| Chevrolet Malibu LT | $4,106 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $4,113 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $4,182 |
| Ford Focus SEL 4-Dr Sedan | $4,255 |
| Chevrolet Impala LTZ | $4,301 |
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Data assumes single male driver age 19, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium costs do not factor in your specific Omaha, NE location which can revise price quotes significantly.
Based on these rates, you can figure that cars like the Honda CR-V, Ford Escape, Honda Accord, Hyundai Elantra, and Toyota Prius will be some of the most budget-friendly vehicles to insure for minors. The price for car insurance will tend to be more expensive anyway because of the fact that there is more exposure for drivers under 21, but overall those models will tend to have the best insurance prices possible.
The example below illustrates how your deductible choice can increase or decrease insurance costs when quoting cheap insurance for drivers under 21. The information is based on a married female driver, full physical damage coverage, and no discounts are applied to the premium.
The data above shows that a 40-year-old driver could lower their car insurance rates by $246 a year by changing from a $100 deductible to a $500 deductible, or save $370 by switching to a $1,000 deductible. Even younger drivers, like the age 20 example, can save as much as $606 each year by choosing larger deductibles on their policy.
When insureds make the decision to increase the deductibles on their policy, it is essential to have additional savings on hand to allow you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Price comparison of only insuring for liability
Saving on car insurance is important to the majority of vehicle owners, and one way to find cheap insurance for drivers under 21 is to not buy full coverage. The chart below shows the comparison of auto insurance costs with liability coverage only compared to full coverage. The data is based on no accidents, no driving violations, $500 deductibles, marital status is single, and no discounts are applied to the premium.
If we average all the age groups together, physical damage insurance costs an additional $1,417 per year more than just buying liability insurance. At some point, about every driver wonders if you should buy full coverage at all. There is no exact rule of when to exclude full coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
Discounts on Omaha car insurance rates
Insurers that provide policies for drivers under 21 may also provide discounts that can lower rates by 40% or more if you meet specific eligibility requirements. Large car insurance companies and the discounts they provide are detailed below.
- Farm Bureau offers discounts for 55 and retired, multi-vehicle, youthful driver, good student, and driver training.
- MetLife offers discounts including accident-free, good driver, good student, multi-policy, claim-free, defensive driver
- Progressive may offer discounts for multi-vehicle, homeowner, multi-policy, good student, and online quote discount.
- AAA includes discounts for good driver, pay-in-full, multi-car, AAA membership discount, multi-policy, and education and occupation.
- American Family may have discounts that include air bags, good driver, defensive driver, mySafetyValet, TimeAway discount, and good student.
- GEICO has discounts for defensive driver, anti-theft, multi-policy, five-year accident-free, daytime running lights, and good student.
- State Farm has savings for multiple autos, passive restraint, safe vehicle, anti-theft, multiple policy, and good student.
The chart below illustrates the difference between insurance costs with and without some available policy discounts. The information is based on a female driver, no claims, a clean driving record, Nebraska state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with accident-free, defensive driving course, marriage, safe-driver, anti-theft, and vehicle safety discounts applied. When discounts are factored in, theaverage yearly reduction on car insurance for drivers under 21 is 28% or $719.