The Best and Cheapest Homeowners Insurance Companies in Nebraska

The Best and Cheapest Homeowners Insurance Companies in Nebraska

Choosing a home insurance company is more than a question of comparing rates to find the cheapest deal. In Nebraska, we looked at not only hundreds of quotes but also the complaint data and satsifaction ratings of a dozen major homeowners insurance providers to determine the state's best options.

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We found that the best price for a typical amount of home insurance coverage in Nebraska is $1,259 per year. However, homeowners should always look for a company with great rates, quality customer service and coverage options that suit them. Read on for our recommendations for Nebraska homeowners.


Best for most people: Farmers Mutual of Nebraska

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Best customer service and stability: State Farm

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Best for affordable rates: Nationwide

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Best for most people: Farmers Mutual of Nebraska

Farmers Mutual of Nebraska has great prices for home insurance and commendable customer service.
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We recommend Farmers Mutual of Nebraska as our top choice for home insurance in Nebraska. Farmers Mutual had the best overall combination of affordable rates and highly rated service. At an average price of $1,290 per year, it's 26% cheaper than the typical price across all the insurers we looked at and the second-cheapest option in the state.

Farmers Mutual also has good customer service ratings. We used the National Association of Insurance Commissioners' Complaint Index to compare insurance companies in Nebraska. The median index nationwide is 1.0. Farmers Mutual's index is 0.36, meaning it had about a third of the complaints as other companies its size in that industry. This low volume of complaints suggests Nebraska homeowners tend to be happy with the coverage they receive from Farmers Mutual.

As a small regional insurer, a main drawback of Farmers Mutual is that its online tools aren't as useful as those at a larger insurance company. You can't get a quote or buy a policy online; you have to meet with or call an insurance agent in order to purchase a policy.

Best for customer service and stability: State Farm

State Farm's customer service is among the best we've found in Nebraska, and its rates are on the affordable side.
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Nebraska homeowners who value excellent customer service but still want affordable prices should take a look at State Farm. While State Farm's rates weren't as competitive as some of the other companies we looked at, its impressive customer service scores mean it may be worth considering for homeowners who value great service from their insurer.

State Farm has an impressively low 0.20 NAIC Complaint Index, meaning it's only had one-fifth the number of complaints as a typical insurance company.

State Farm's prices for home insurance were also better than average. We found a typical annual cost of $1,553 from State Farm, which is 12% less than the average price among all companies we looked at (though not as affordable as our two other picks).

As the nation's largest home insurance company, State Farm has a wide variety of tools and customer service options. You can get a quote for a policy online, over the phone or in person, and State Farm's web tools and smartphone apps are among the best available.

Plus, State Farm has impeccable financial stability. It has an A++ financial stability rating from A.M. Best. That's the highest score available, meaning State Farm has a "superior" ability to pay out claims.

Best for affordable rates: Nationwide

Nationwide had the best prices we found from any homeowners insurance company in Nebraska.
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Nebraska homeowners who are focused on saving money on their home insurance should look at Nationwide, which provided the lowest price for home insurance among the eight companies we looked at. The typical price we found Nebraska-wide was $1,259: That's 28% cheaper than the typical price we found, and $31 cheaper than our overall pick.

Nationwide's coverage options are about typical for a large insurance company. It allows customers to buy replacement-cost coverage on personal property and roofs, but there aren't any special protections that make it stand out.

However, Nationwide's customer service is not as highly regarded as our main pick. Its NAIC Complaint Index in Nebraska is 0.73. While that means it receives fewer complaints than other companies its size, that's far more complaints than Farmers Mutual of Nebraska received.

The best-reviewed homeowners insurance companies in Nebraska

When selecting a home insurance company, picking a dependable company with highly rated customer service is just as important as finding a great deal. With that in mind, we've compiled the best-reviewed home insurers in Nebraska, with three important factors: Each company's NAIC Complaint Index, the J.D. Power U.S. Home Insurance Study score and the A.M. Best Financing Strength Rating score.

InsurerNAIC Complaint IndexJ.D. Power U.S. Home Insurance Study scoreA.M. Best Financial Strength Rating
State Farm0.204/5A++
Farmers Mutual of Nebraska0.36N/AA
American Family0.693/5A
Farm Bureau Mutual (IA Group)0.32N/AA
Nationwide0.732/5A+
Allstate0.313/5A+
USAA0.155/5A++
Farmers0.393/5A
Travelers0.302/5A++
Liberty Mutual0.532/5A
Auto-Owners Insurance Co.0.214/5A++
Nodak Mutual Group Inc.0.00N/AA
Shelter0.36N/AA
Progressive0.80N/AA+
North Star0.39N/AA+
Nodak Mutual Insurance was not the subject of any NAIC complaints in 2018. However, this may be partly attributable its small size.

The cheapest options for homeowners insurance in Nebraska

Finding the right homeowners insurance company in Nebraska can save you hundreds of dollars per year. We collected hundreds of quotes to determine which insurer offers the most affordable option in Nebraska.

Bar chart showing the most affordable home insurers in Nebraska
Bar chart showing the most affordable home insurers in Nebraska

Compare Home Insurance Quotes from Providers in Nebraska

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Common homeowners insurance perils in Nebraska

As a state located in the Midwest, the home insurance perils common to Nebraska tend to revolve around heavy storms, such as rain, flooding, hail and snowstorms. Some of Nebraska's major weather events are covered by standard homeowners insurance, but some aren't. Make sure you understand what your homeowners policy covers.

Does home insurance cover flood damage?

Homeowners insurance policies do not typically cover flood damage, so Nebraskans looking to protect their house and its contents from floods will need to purchase a separate flood insurance policy. The average cost of flood insurance in Nebraska is $998 per year.

Purchasing flood insurance will only be required if either:

  • Your lender requires it, or
  • You live in an area designated as a special flood hazard area (SFHA) by the federal government and you have a mortgage from a from a federally regulated or insured lender.

Homeowners can find out their flood zone by entering their address into the FEMA Flood Map Service Center. Whether or not flood insurance is required, we generally recommend its purchase as extra security against the potential costs of flood damage.

If you live in a moderate- to low-risk flood zone and your lender doesn't mandate flood insurance, you won't be required to purchase it. And most Nebraskan homeowners haven't bought a policy. Nebraska has just more than 9,000 flood insurance policies in force versus almost 485,000 owner-occupied housing units, meaning that fewer than 2% of the state's homeowners have a flood insurance policy. By contrast, about 98% of them have a home insurance policy.

Bar chart comparing how many people have homes, home insurance policies, and flood insurance policies in Nebraska
Bar chart comparing how many people have homes, home insurance policies, and flood insurance policies in Nebraska

What makes the rarity of flood insurance in Nebraska even more troubling is how many people live in areas that are at a high risk of flooding. The federal government categorizes homes that have a 1% or higher annual risk of flooding as "high risk." In Nebraska, there are about 40,000 homes that meet that criterion. That means even in the best-case scenario, fewer than 25% of homeowners whose homes are at a high risk of flooding will be protected if their home is flooded.

If you live in a moderate- or low-risk flood zone, purchasing flood insurance for extra security is still worth considering. More than 20% of flood insurance claims come from properties inside these zones, so living in a lower-risk zone does not necessarily preclude flood damage. And homeowners in these zones may qualify for a discounted preferred risk policy, which can be purchased for $108 per year at its lowest coverage levels.

Does homeowners insurance cover hail or snow?

Nebraska gets plenty of precipitation year-round, and that includes hail during the summer and snow in the winter. Each of these can have a major destructive impact on your property, but the good news is that damage from hail and "weight of snow" are both covered by homeowners insurance. However, you should still take steps to protect your property, as damage due to negligence is usually not covered. For example, if you let an ice dam build up on your roof and it causes damage to your home, your insurance may not cover the repair.

Nebraska insurance rates: City-by-city breakdown

In addition to an overall statewide analysis, we also looked at the typical cost for individual cities in Nebraska. Below, see the typical cost of insurance in the largest cities in Nebraska.

CityAverage annual insurance cost% difference from average
Omaha$1,655-1.86%
Lincoln$1,365-19.02%
Bellevue$1,481-12.14%
Grand Island$1,89412.33%
Kearney$1,86210.41%
Fremont$1,611-4.43%
Hastings$1,86310.47%
North Platte$1,85810.22%
Norfolk$1,6960.61%
Columbus$1,643-2.57%
Papillion$1,415-16.10%
La Vista$1,439-14.68%
Scottsbluff$2,23732.66%
South Sioux City$1,554-7.86%
Beatrice$1,596-5.35%
Lexington$1,7644.60%
Alliance$1,94615.42%
Gering$2,02119.83%
Blair$1,7171.83%
York$1,682-0.26%
McCook$2,09624.33%
Nebraska City$1,485-11.95%
Ralston$1,573-6.72%
Crete$1,629-3.41%
Seward$1,614-4.27%
Sidney$2,09824.43%
Plattsmouth$1,525-9.55%
Schuyler$1,684-0.13%
Chadron$1,94515.38%
Gretna$1,547-8.27%
Wayne$1,613-4.31%
Holdrege$2,10825.03%

If you'd like to see how Nebraska home insurance costs stack up next to other states, take a look at our study comparing homeowners insurance costs across the United States.

Methodology

For our comprehensive statewide analysis, we collected insurance quotes from every ZIP code in the state of Nebraska, across eight of the largest insurance companies in the state. Our sample property is a 2,100-square-foot home built in 1971, with $155,800 of dwelling coverage.

Insurance companies surveyed include:

  • State Farm
  • Farmers Mutual of Nebraska
  • American Family
  • Farm Bureau Mutual (IA Group)
  • Nationwide
  • Allstate
  • Farmers
  • Travelers

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

Chris Moon

Chris is a Product Manager for ValuePenguin with years of experience in addressing critical questions about mortgages and homeowners insurance. He spends his time evaluating insurance providers and policy features to understand where consumers might find the most cost-effective coverage. Chris has contributed insights to the New York Times and many other publications.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.