Comparing rates for low-cost insurance is not always easy, and deciding which company has the cheapest insurance rates for homeowners calls for even more shopping around. Each auto insurance company has their own formula for determining rates, so we need to take a look at the insurance companies with the most affordable rates in Omaha, NE.
It’s important that readers know that Omaha insurance rates are impacted by many factors that may substantially change the price you pay. Price variation is why it is important to compare as many rates as possible when trying to get the lowest auto insurance rates for homeowners. Insurance rates can be determined by many things and change dramatically, so the lowest-price company the last time you shopped your coverage around may now not even be in the top five.
Find the Cheapest Car Insurance for Homeowners
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $788 |
| 2 | The Hartford | $865 |
| 3 | Auto-Owners | $896 |
| 4 | Allied | $911 |
| 5 | Farm Bureau Mutual | $1,010 |
| 6 | Farmers Mutual of Nebraska | $1,019 |
| 7 | Nationwide | $1,037 |
| 8 | American National | $1,054 |
| 9 | State Farm | $1,075 |
| 10 | General Casualty | $1,114 |
| 11 | USAA | $1,116 |
| 12 | California Casualty | $1,257 |
| 13 | American Family | $1,284 |
| 14 | Iowa Mutual | $1,308 |
| 15 | EMC | $1,314 |
| 16 | MetLife | $1,332 |
| 17 | GEICO | $1,348 |
| 18 | Progressive | $1,460 |
| 19 | Farmers | $1,586 |
| 20 | North Star | $1,710 |
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Safeco offers some of the lowest car insurance rates in Omaha at around $788 each year. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual also are some of the cheaper Omaha, NE car insurance companies.
In the rate table above, if you have coverage with The Hartford and switched to Safeco, you might see annual savings of roughly $77. Drivers with Auto-Owners might save as much as $108 a year, and Allied policyholders might realize rate reductions of up to $123 a year.
These policy prices are averaged across all types of drivers and the different vehicles they drive and do not take into consideration an exact location for homeowners. So the company that has the cheapest price for you may not even be in the list above. That emphasizes why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
One of the many criteria that are looked at to determine the amount you pay for auto insurance is your zip code in Omaha. Areas with a lot of weather claims or more people are more likely to have higher rates, whereas more rural areas have the benefit of cheaper auto insurance prices.
The information below rates the most expensive areas in Nebraska for homeowners in which to purchase auto insurance. Omaha is ranked at #12 with an annual premium of $1,220 for coverage, which is approximately $102 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Scottsbluff | $1,374 |
| 2 | Gering | $1,357 |
| 3 | Alliance | $1,340 |
| 4 | Lexington | $1,303 |
| 5 | South Sioux City | $1,303 |
| 6 | North Platte | $1,288 |
| 7 | McCook | $1,279 |
| 8 | Beatrice | $1,235 |
| 9 | Crete | $1,234 |
| 10 | Seward | $1,227 |
| 11 | Nebraska City | $1,224 |
| 12 | Omaha | $1,220 |
| 13 | Kearney | $1,188 |
| 14 | Blair | $1,188 |
| 15 | Columbus | $1,150 |
| 16 | Hastings | $1,147 |
| 17 | York | $1,145 |
| 18 | Bellevue | $1,144 |
| 19 | Fremont | $1,142 |
| 20 | Papillion | $1,140 |
| Compare Prices Now Go | ||
Premium costs are comparative as zip code location can alter insurance rates noticeably.
How to get discounts on Omaha auto insurance
Car insurance companies that offer quotes for homeowners may also give you special discounts that could potentially reduce rates by as much as 40% or more if you qualify. Popular insurance companies and the discounts they provide can be found below.
- State Farm includes discounts for safe vehicle, accident-free, multiple autos, driver’s education, and Steer Clear safe driver discount.
- American Family may include discounts for TimeAway discount, air bags, multi-vehicle, early bird, mySafetyValet, defensive driver, and Steer into Savings.
- AAA may offer discounts for multi-car, good driver, pay-in-full, AAA membership discount, multi-policy, good student, and anti-theft.
- GEICO has discounts for driver training, defensive driver, seat belt use, daytime running lights, multi-policy, and multi-vehicle.
- Mercury Insurance has savings for good student, professional/association, multi-car, good driver, type of vehicle, and annual mileage.
- Farmers Insurance policyholders can earn discounts including business and professional, mature driver, electronic funds transfer, early shopping, bundle discounts, good student, and youthful driver.
- Progressive offers discounts including multi-policy, homeowner, online quote discount, online signing, multi-vehicle, good student, and continuous coverage.
The example below illustrates the comparison of insurance prices with and without discounts being applied to the rates. Data assumes a female driver, no tickets, no at-fault accidents, Nebraska state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with accident-free, passive restraint, anti-theft, claim-free, marriage, and safe-driver discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on insurance for homeowners is 28% or $614.
Liability-only versus full coverage
Saving money when shopping for insurance should be important to the majority of vehicle owners, and an effective way to find cheap insurance for homeowners is to not buy comprehensive and collision coverage. The illustration below illustrates the comparison of insurance prices when comparing full coverage to liability only. The rate quotes are based on a clean driving record, no at-fault accidents, $500 deductibles, single marital status, and no other discounts are factored in.
If the expense is averaged for all age categories, comp and collision coverage costs an extra $1,417 per year over having just liability coverage. That is a significant amount which raises the question if buying full coverage is a good investment. There is no clear-cut rule for dropping comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s assume your vehicle’s replacement cost is $6,500 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $5,500 after you pay the deductible. If it’s costing you more than $550 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are some conditions where dropping physical damage coverage is not a good idea. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not drop full coverage.
How to find economical insurance for homeowners
The list below summarizes a few penny-pinching suggestions that can help Nebraska drivers quote cheap auto insurance.
- Prevent price hikes by avoiding at-fault accidents
- Choose a safer vehicle and pay lower rates
- Save money by observing traffic laws and speed limits
- Avoid filing small claims
- Save money by insuring your home and auto with the same company
- Compare rate quotes frequently
That last idea is very critical, as was pointed out in the prior article. Coverage rates can be adjusted at any time, so drivers shouldn’t be reluctant to switch carriers if you can save money. Many drivers prefer to stick with one company, but is isn’t recommended if that faithfulness ends up costing you thousands of dollars over the life of your policy. In just a few minutes you could compare prices and find cheaper car insurance for homeowners in Omaha.
If you aren’t clear which coverage you need and would like to get some help when shopping around for cheaper insurance for homeowners, the agents listed below can probably help you make a decision which coverage fits your budget. To find an Omaha insurance agency close to where you live, click the button at the bottom.
- American Family Insurance – John Cuenca
4601 S 50th St Ste 306 – Omaha, NE 68117 – (402) 614-5004 - Steve Skidmore – State Farm Insurance Agent
17525 Gold Plaza #105 – Omaha, NE 68130 – (402) 330-9200 - Aaron Stockton – State Farm Insurance Agent
1411 N 72nd St – Omaha, NE 68114 – (402) 551-3455 - Tommy Hughes Jr – State Farm Insurance Agent
1321 Jones St #104 – Omaha, NE 68102 – (402) 346-1011 - American Family Insurance – T. C. Johnson Agency Inc.
155 N 72nd St – Omaha, NE 68114 – (402) 561-8633