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Cheap Nebraska Home Insurance Rates & The Best Companies

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On average, Nebraskans are paying $1,315 every month on homeownership costs. There are 840,000 homes in the Cornhusker State, 66% of which are occupied by owners.

  • Population: 1,929,268
  • Average value of homes that’s occupied by owners: $142,400
  • Households: 748,405
  • Average household income: $56,675
  • High school grad or higher, percent of people age 25 years +: 91%
  • Average travel time to work: 18 min

The average premium amount was sourced from the latest data of the Insurance Information Institute, and the statistical data from the U.S. Census Bureau.

There are many people in Nebraska who are excited about the growth in the housing market. Many people are moving to the state due to the low cost of living. Over the past few years, the population of the state has increased by more than five percent.If you already live in the Midwest, you’re probably aware of the term Tornado Alley. There may be some arguments on the exact boundaries of the Alley, but there’s little doubt that the state of Nebraska lies directly in the path of tornados.

Summers are a particularly tumultuous time for the region. Just last year, Nebraska embraced five different tornado attacks. It doesn’t get any better in the winter either because Nebraska experiences freezing temperatures and heavy snow during the season.

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Nebraska is the 27th US state most prone to natural disasters, but according to the Insurance Information Institute (III), only about 66 percent of Nebraska homes are insured. The state is ranked 25th on the list of most insured homes by state, meaning there’s room for plenty more homes to sign up for reliable insurance.

Given Nebraska’s extreme weather and precarious geographical position, homeowners can expect high insurance rates throughout the year. In light of this, we suggest you do your research and peruse different premium quotes before shortlisting an insurance provider for your home. 

Nebraska Average Premium Rates

Finding the right Nebraska homeowners insurance can be a long process.On average, homeowners in Nebraska spend about $1,402 on home insurance per year. That’s about $117 on a monthly basis. In contrast, the national average is about $1,192, which is about $99 per month. According to these statistics, Nebraska has the 11th highest insurance premiums in the country and the state average yearly premium is $210 more expensive than the national average. 

Average Nebraska Home Insurance Premiums

Monthly average$117$113$102
Annual average$1,402$1,360$1,226
National annual average$1,192$1,173$1,132
Source: The annual average premiums came from the Insurance Information Institute’s recorded data. We were able to calculate the estimated monthly insurance costs based on the data provided.

Popular Providers In Nebraska By Market Share

We’ve researched and compiled the key insurance policies from the top three homeowners insurance companies in Nebraska to help you get started. We used III’s data from 2017 (latest available), which highland the most popular home insurers in NE, in terms of market share holdings and direct premiums written. We elucidated on the top 3 companies because their popularity gives an insight on their overall performance and consumer satisfaction. We did not review all of the providers in the state, therefore, it’s recommended that you perform further research and look into other providers not mentioned in this article to ensure that you are getting the insurer that suits your needs at the best price around.

State Farm

State Farm has the highest home insurance market share in Nebraska at 25 percent. The company wrote a total of $181 million in direct insurance premiums in 2017. This means that State Farm has a strong financial condition and is able to pay claims in both the short and long term. AM Best awards it with the A++ (Superior) grade to indicate its high financial solvency. However, JD Power gives it 3 out of 5 for its overall consumer satisfaction, which translates to an About average performance. 

Nebraska residents can avail a comprehensive list of coverage options that will protect them from many kinds of natural disasters. The standard coverage includes property damage from storms, winds, hails and fires. In winters, residents can enjoy coverage for plumbing issues caused by freezing temperatures.

Under the non-weather panel, homeowners can receive insurance for their personal belongings in cases of theft, vandalism and riots. Water damages are also covered, which is a major plus for a flood-prone region like Nebraska. 

When it comes to discounts, State Farm offers little variety, so its best that homeowners try to bundle their policies. One good offer that Nebraska homeowners qualify for is called a Multiple Line Discount, which takes care of auto insurance and reduces home premium rates. A home alert insurance gives discounts to owners if they have installed fire or burglar alarms. Homeowners that use impact-resistant roofing can also receive a discount. 

Overall, the company holds a positive reputation for letting homeowners receive highly personalized quotes and can turn out to be an affordable option. 

Farmers Mutual Of Nebraska

Coming in at second place is Farmers Mutual of Nebraska (FMNE). The company holds a market share worth 12 percent across the state and has been operative in the region for over 125 years. AM Best gives FMNE an A (Excellent) for its ability to meet claims and its financial stability. 

FMNE’s standard home policy will cover most property losses caused by fire, hail and other types of natural disasters. The interesting bit is that FMNE’s homeowners policy includes a loss of use coverage, which is basically compensation for the amount of time your residence is rendered uninhabitable during damage repair processes. There is also limited coverage available for the fraudulent use of credit cards and phoney bank transfers. 

FMNE offers homeowners an extensive range of discounts, which is probably its biggest selling point. You can save up on some hard-earned cash if your home is secured with protective devices like fire alarm systems. You can also save up with a Multi Policy discount when you bundle home insurance with FMNE’s auto insurance. Nebraska residents can also qualify for impact-resistant roofing discount. Houses that are less than ten years old may qualify for a new home discount.

The perks of having an insurance company exclusively cater to your state are many and FMNE exemplifies that. 

Farm Bureau 

Farm Bureau’s journey began in another Midwest state (Iowa) in 1939. Today, it owns a market share of 9 percent in the state of Nebraska and is its third highest writer of direct premiums at almost $68 million in 2017. Like State Farm, the company has a reliable claims procedure and AM Best awards it with an A- (Excellent) for its financial stability. The company is expected to grow further in the coming years.

Homeowners looking for protection against specific natural disasters are recommended to reach an agent because Farm Bureau can give coverage based on the risk to your property. What impressed us was the company’s residential equipment breakdown coverage, which includes the replacement of important appliances like air conditioners and heaters. This shall come in handy during extreme weather conditions in the state. Homeowners can also get coverage for contents inside their property with an umbrella coverage policy that adds layers to the standard package. 

Discount options here are versatile and include an exciting bundle package known as the Farm Bureau Member’s Choice. Owners can merge their auto insurance with their home insurance and reduce hassles by paying premiums only once. You also get the new home, new roof and protective device discounts. 

Customer service ranks high on Farm Bureau’s agenda, and it’s offering discounts to loyal customers under its Continued In-Force Credit policy. Clients who renew their policies will receive loyalty credit.

Nebraska Home Insurance Companies: Market Share and Summary of Ratings

RankInsurerMarket Share %AM BestS&PJD Power
1State Farm24.8A++AA3
2Farmers Mutual NE11.7ANRNR
3Farm Bureau9.3A-NR3
4American Family9ANR3
5Nationwide Mutual6.7A+A+3
9Liberty Mutual4.2AA3
NR: Not rated
Source: Insurance Information Institute, AM Best, S&P, JD Power

Ways To Save

Buying home insurance is one of the most important financial decisions that anyone can make. Although some people think that this insurance is too costly, it is a great investment when something goes wrong in your home. If you want to save money on home insurance, there are a variety of ways to accomplish this goal.

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Security Systems Reduce Your Premium

One of the best ways to save money on your home insurance is to install a security system. Many insurance companies will give a monthly discount to homeowners who have a security system. With the inexpensive cost of a security system, this is a great financial move.

Before choosing a security system, make sure to conduct a lot of research on your options. There is more technology in this field than ever before, and many people want to get the best option on the market. Once you have the system installed, you can look to see how much your insurance rates have decreased.

Skip The Pool

Adding in a pool is a decision that many people make. Having a pool is great during the warm months of the summer. However, a pool is going to cost a lot of money to put in the ground. In addition, having a pool will increase your monthly home insurance rates.

Insurance companies do not want to worry about someone getting injured while playing in your pool. As a result, there is a surcharge for people who have a pool near their home. If you want to save money every month on your insurance, you should skip adding a pool to your home.

Combine Coverage Options

Perhaps the easiest way to save money on home insurance is to combine different coverage options. There are many people who have car insurance through one company and home insurance through another. This is the wrong approach to take if you want to save money.

In many cases, you can save over ten percent on your insurance coverage by combining different options. Home insurance is a vital investment that you must make to protect your home. It is possible to get quality insurance and to save money during the process.

Final Note

You’ll notice that finding homeowners insurance in Nebraska isn’t too hard, but it can be a little expensive. How much you pay for insurance depends on a number of factors including the age of your home, the quality of its roof and your claims history. 

In Nebraska, natural disasters are a major source of property damage and although the aforementioned companies offer great coverage options, none of them focus on flood damages. Be sure to ask for a separate policy that protects your home from any kind of water-based destruction. 

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United States Census Bureau  

Insurance Information Institute

Consumer Advocate


For more assistance, please contact your local state department of insurance:

Nebraska Department of Insurance

  • 402-471-2201

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