Nebraska Homeowners Insurance
Homeowners Insurance in Nebraska: Complete Consumer Guide
It used to be called “The Great American Desert,” but Nebraska is far more than that. It’s a great place to live and to own a home. We have some fun trivia for homeowners in Nebraska and people considering calling this state home. For instance, did you know that Nebraska is the birthplace of the Reuben sandwich or that Spam (yes, the canned “meat”) is produced here? There’s more to Nebraska than food, however. It’s the only state in the country that has a one-house legislature. It also has the largest underground water reserve and more rivers running through it than any other state in the U.S. Famous people have made history here too: Marlon Brando’s mother gave Henry Fonda acting lessons at the Omaha Community Playhouse. The honeybee is the state insect here, where the motto is “Equality Before the Law.”
Types of Homeowners Insurance policies in Nebraska
Wondering what type of home insurance policy that you need for your home? Here is a look at the different types of policies you can choose from.
HO-1 is the most basic and limited type of police, which many insurers do not sell.
HO-2 is still quite basic and not as commonly sold as HO-3. It covers 10 perils.
HO-3 is the most common type of homeowners insurance policy residents in Tennessee have. It typically covers 16 perils.
HO-5 is a comprehensive form of homeowners insurance and the second most common policy type for single-family dwellings.
HO-6-is for condo owners and is a “walls-in” type of coverage for unit owners.
HO-8 is for homes that don’t meet insurer standards for other policy forms. Older homes and landmarks usually have this type of coverage.
What factors affect rates on homeowners insurance in Nebraska?
There are several factors that impact home insurance rates. Construction type and materials are very important. So is the size of the home and the cost to rebuild it. Where you live and your neighborhood’s crime statistics weigh in on your rate, as do other factors like credit score, eligibility for discounts and whether or not you own a swimming pool or trampoline.
Top 5 Disasters in the State of Nebraska
Nebraska federally declared Severe Storms as the most common disaster with 30 counts since 1953, followed by Flood, Biological, Fire, and Tornado. Here are the top 5 federally declared disasters in the State of Nebraska:
|Rank||Declaration Title||Disaster Number|
Source: Federal Emergency Management Agency (FEMA)
How much is homeowners insurance in Nebraska?
The average homeowner in Nebraska pays $907 a year in home insurance.
Source: The average cost of homeowners insurance by state, Business Insider.
Crime Rate: Is Nebraska a safe state?
|2019 Crime in Nebraska||Crime Number||Crime Rate*|
*Rate per 100,000 inhabitants
Safest Cities in Nebraska by Property Crime*
- La Vista, NE has a population of 17,223 with a Property Crime rate of 10.5 per 1k. The city average home value is approximately $225,532.
- Columbus, NE has a population of 23,406 with a Property Crime rate of 15.3 per 1k. The average home value there is about $167,148.
- Norfolk, NE came in third as the safest city in the state of Nebraska and has a population of 24,698 with a Property Crime rate of 15.4 per 1k. Its home value averaged at about $168,062.
- Beatrice, NE has a population of 12,227 with a Property Crime rate of 15.9 per 1k. Its average home value is $107,208.
- Lexington, NE has a population of 10,108 with a Property Crime rate of 16.2 per 1k. The city home value averaged $119,496.
*Based on FBI Uniform Crime Reporting 2019, some cities have been eliminated because of changes in the state/local agency's reporting practices and cities with populations under 10,000. Zillow’s State/Cities average home value for a single family home or a condo as of Sept. 2020.
Top homeowners insurance companies in Nebraska
Safeco is a popular choice for home insurance in Nebraska. They are rated 2 out of 5 stars by J.D. Power & Associates but only because it is not the cheapest option. Safeco is a reliable insurer and rates high in customer satisfaction. Ask about discounts and add-on services and coverages.
Farmers Insurance offers many options for homes, farms and ranch properties. They offer many discounts, including one for non-smokers, a multi-policy discount and several for certain occupations that include teacher, police officer, firefighter, military member, doctor, nurse, dentist, engineer and more.
Travelers Insurance is a highly rated insurer that offers bundling discounts, up to 13% off if you add a car to your home policy. Green homes also earn a discount as do protective devices like alarms and detectors.
Nebraska Home Insurance FAQs
How much content coverage do I need?
This is a very good question and depends entirely on you and what you own. You are covered up to the limits you see on your declarations page. Remember that about 10% of your contents coverage can be allotted to possessions that are in storage? Is that not enough? Raise your limits. Also, consider expensive items, like jewelry, furs, watches. These may need a rider in order to be fully covered.
What should a homeowners policy cover?
A homeowners policy should cover the dwelling, attached structures, contents and liability. There are different tiers of coverage. It’s important to get adequate coverage based on how much it would cost to rebuild your home and replace your possessions. Consider whether or not you want to be covered at replacement cost or if you’re okay with getting paid out with depreciation factored in.
Do I need extended replacement cost coverage?
With extended replacement cost coverage, you may be covered for 10-25% more than your coverage limits on home insurance. This may pay for unforeseen costs.