One of the more important components that are looked at to help calculate auto insurance rates is where you keep your vehicle in Omaha. Regions with more people or even just more weather-related claims tend to have more expensive auto insurance rates, whereas areas with less crime or weather claims tend to receive cheaper rates.
The next table ranks the most expensive places in Nebraska for business use to purchase auto insurance in. Omaha ranks #7 with the yearly price of $1,257 for the average policyholder, which is approximately $105 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Gering | $1,343 |
| 2 | Scottsbluff | $1,334 |
| 3 | McCook | $1,318 |
| 4 | Alliance | $1,300 |
| 5 | North Platte | $1,288 |
| 6 | Lexington | $1,264 |
| 7 | Omaha | $1,257 |
| 8 | South Sioux City | $1,251 |
| 9 | Kearney | $1,236 |
| 10 | Blair | $1,236 |
| 11 | Beatrice | $1,235 |
| 12 | Crete | $1,234 |
| 13 | York | $1,191 |
| 14 | Seward | $1,179 |
| 15 | Bellevue | $1,179 |
| 16 | Nebraska City | $1,176 |
| 17 | Columbus | $1,174 |
| 18 | Norfolk | $1,159 |
| 19 | Hastings | $1,147 |
| 20 | Fremont | $1,142 |
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Rate quotes are comparative as the specific Omaha residence address can raise or lower premiums substantially.
Deciphering which companies offer the best insurance rates for business use takes a bit more effort in order to find the best price.
Each insurer has a different process to establish rates, so we will examine the overall cheapest insurance companies in Omaha. We do need to point out that Nebraska insurance rates are impacted by many things that can increase your annual premium. Simply getting older, buying a different vehicle, or getting a reckless driving citation can trigger rate changes that can make some companies more affordable than before.
Best Car Insurance Prices for Business Use
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Safeco may have some of the most affordable car insurance rates in Omaha at around $804 a year. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual are also some of the lowest-priced Omaha, NE insurance companies.
In the above rates, if you buy coverage from The Hartford and switched to Safeco, you might see a yearly savings of around $69. Customers with Auto-Owners might save as much as $101 a year, and Allied policyholders might reduce rates by $145 a year.
To discover how much you can save, click here or quote prices from the following companies.
Understand that those premium estimates are averages for all drivers and vehicles and and are not figured with an exact vehicle garaging location for business use. So the auto insurance company that can offer you the best rate may not even be in the top 24 companies in the list above. That point stresses why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
The diagram below demonstrates how choosing different deductibles can impact yearly insurance costs when researching cheap insurance for business use. The premiums assume a single male driver, comp and collision included, and no policy discounts are applied.
The data above shows that a 50-year-old driver could pocket $296 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $446 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old category, could shave up to $972 annually by choosing a higher deductible.
If you make the decision to raise deductibles, it is important to have plenty of money set aside to be able to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Discount Omaha car insurance
Insurers that provide coverage for business use may additionally offer price discounts that could lower prices by 35% or more if you meet specific criteria. A list of companies and some of the discounts are detailed below.
- Progressive offers premium reductions for online quote discount, continuous coverage, homeowner, online signing, multi-vehicle, good student, and multi-policy.
- Farmers Insurance offers discounts including youthful driver, good student, mature driver, multi-car, electronic funds transfer, early shopping, and bundle discounts.
- Farm Bureau includes discounts for renewal discount, driver training, 55 and retired, good student, multi-policy, and multi-vehicle.
- State Farm policyholders can earn discounts including safe vehicle, good driver, passive restraint, good student, and multiple autos.
- GEICO may include discounts for defensive driver, military active duty, anti-lock brakes, good student, air bags, and daytime running lights.
- SAFECO offers discounts for bundle discounts, homeowner, drive less, anti-lock brakes, multi-car, anti-theft, and teen safe driver.
- Liberty Mutual has discounts for hybrid vehicle, new graduate, exclusive group savings, multi-policy, teen driver discount, and newly married.
The example below compares car insurance rates with and without discounts applied to the policy premium. Data assumes a male driver, no driving violations, no at-fault accidents, Nebraska state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with passive restraint, multiple policy, multiple vehicle, marriage, accident-free, and defensive driving course discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for business use is 28% or $475.
Does full coverage make sense?
Saving on insurance is the goal of the majority of vehicle owners, and one of the fastest ways to save on the cost of insurance for business use is to only buy liability insurance. The diagram below illustrates the comparison of insurance rates with full physical damage coverage compared to only buying liability only. The data is based on no claims or driving citations, $100 deductibles, marital status is single, and no additional discounts are factored in.
If averaged for all ages, physical damage coverage on your policy costs $1,917 per year more than buying just liability insurance. That is a significant amount which raises the question when is the right time to remove full coverage. There is no exact rule for phasing out comp and collision coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.