Car insurance in Lincoln costs an average of $822 per year, which is lower than the state average. The cheapest insurer for the average driver is GEICO, but MoneyGeek also compared the cheapest providers based on different driver profiles and coverage levels. For drivers looking for a balance between affordability and quality, MoneyGeek ranked the best insurance providers in Lincoln.
Compare the Cheapest Car Insurance Quotes in Lincoln, NE
The Cheapest and Best Car Insurance in Lincoln
The Cheapest Car Insurance Companies in Lincoln
The companies with the most affordable average rates for a full coverage policy in Lincoln are:
- GEICO: $599 annually
- USAA: $653 annually (only available to current and former military)
In terms of affordability, GEICO policyholders are getting the best deal in Lincoln. Their average annual premium is $599, which is $233 less than the city average. Following GEICO in the top five most affordable car insurance companies in Lincoln are USAA, State Farm, Farmers Mutual of Nebraska and Allied. Meanwhile, MetLife has the most expensive average annual premium in the city at $1,254, which is more than double the rate GEICO policyholders pay.
To facilitate this study, MoneyGeek collected average insurance rates in the state of Lincoln for a sample 40-year-old male driver with a full coverage policy. This includes both liability and comprehensive and collision coverage.
Scroll for more
Average Cost of Car Insurance in Lincoln
Knowing the typical car insurance rates in Lincoln will help you find the right provider and policy. The average cost of auto insurance in the city is $822, which is lower than both the state and national averages. Lincoln drivers pay about 10.9% less than the state average and around 42.3% less than the $1,424 average national annual premium.
The Best Car Insurance Companies in Lincoln
For drivers looking for a car insurance provider that balances affordability and quality, MoneyGeek ranked the best car insurance companies in Lincoln. According to MoneyGeek’s research, the best insurance providers in Lincoln for most drivers are:
- Auto-Owners: MoneyGeek score 98 out of 100
- GEICO: MoneyGeek score 93 out of 100
USAA received the highest score in Lincoln by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
MoneyGeek took into account various factors while calculating the final score out of 100, including J.D. Power ratings for user satisfaction, affordability and financial stability.
Personalized Quotes to Get You the Cheapest Car Insurance in Lincoln
To determine the cost of annual premiums, car insurance companies in Lincoln evaluate a variety of factors. These include age, the make and model of the vehicle, driving history, gender, marital status and credit score, among others. Any change in your circumstances will have an impact on your auto insurance rate.
For example, teen drivers may pay higher premiums. Farmers Mutual of Nebraska has an average annual premium of $1,737 for an 18-year-old male driver, which is $1,022 more than the amount that a 40-year-old male will pay, on average, for a similar policy. To get the most accurate rate, compare personalized quotes from different car insurance companies in Lincoln.
Shopping around for car insurance in Lincoln could save you $223, which is enough to buy:
Cheapest Car Insurance in Lincoln by Coverage Amount
In Lincoln and elsewhere, one of the most important factors affecting car insurance costs is the amount of coverage that you purchase. For example, a state minimum liability car insurance policy costs an average of $422, while a full coverage policy with higher liability limits costs $822 on average. That is a $400 difference.
Nebraska Minimum Liability Requirements
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
- Uninsured Motorist$25,000 per person and $50,000 per incident. The minimum coverage may not be enough if you're in a serious accident.
Insurers in Lincoln offer various types of policies with different coverage levels. GEICO offers the cheapest option for state minimum liability coverage, averaging at $265.
You can also choose a 50/100/50 liability-only or full-coverage plan. If the cost between these two is nominal, then you might want to choose the full coverage option. GEICO charges an average of $565 for full coverage, which is $273 more than they charge on average for 50/100/50 liability-only policies.
If you want a more comprehensive policy, then consider getting a 100/300/100 full-coverage policy with GEICO for an average of $599 per year. Given that this is hardly any more expensive than a similar 50/100/50 policy, it may be worth the money to get the expanded coverage limits.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- 4.Farmers Mutual of Nebraska$293$319
- Company50 / 100 / 50per year100 / 300 / 100per year
- 4.Farmers Mutual of Nebraska$696$715
Cheapest Car Insurance in Lincoln if You Have Driving Violations
Being a safe and responsible driver can help you get cheap car insurance in Lincoln. For instance, if you have no violations in your driving record, you will only need to pay around $688 annually for a State Farm policy. However, if you have a speeding ticket or DUI, you will have to pay an additional average of $60 for a total of $747, although most companies charge much more than this for a DUI. A similar policy will cost an average of $807 for drivers who have been in an accident where they are at fault.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 3.Farmers Mutual of Nebraska$785$872$1,424
Average Cost of Car Insurance by Postal Code
ZIP codes also have an impact on auto insurance rates due to differences in the number of accidents, car thefts and drivers. However, this is essentially a non-issue in Lincoln. The region with the most affordable premium in Lincoln is 68516, where drivers pay an average of $814 annually. That is $25 less than the average annual premium in 68521, which is the most expensive neighborhood for auto coverage.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Lincoln
In addition to individual driver needs and history, location-specific factors like the rate of car thefts and the percentage of uninsured motorists also contribute to car insurance rates in Lincoln. How Lincoln ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Lincoln are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author