The Cheapest and Best Homeowners Insurance in Omaha
The Cheapest Home Insurance Companies in Omaha
If you compare homeowners insurance providers in Omaha, you will notice that most of them offer very similar core coverage. This makes pricing a crucial factor to consider while choosing a policy.
For a policy with $250,000 in dwelling coverage, the cheapest home insurance companies in Omaha are:
- Farmers: $2,574 per year
- Nationwide: $2,683 per year
However, depending on how much coverage you purchase, the cheapest companies can change. For example, for policies for expensive homes with dwelling coverage limits of $2,000,000, the two cheapest home insurance providers in Omaha are:
- Farmers: $9,705 per year
- Allstate: $10,397 per year
As you can see, your dwelling coverage limits significantly affect your home insurance policy premium costs, and certain insurance providers might be more affordable for your needs than others. You can use the table below to see how premium costs can change with varying dwelling coverage limits.
The Cheapest Home Insurance in Omaha, Ranked
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Our sample homeowners insurance policies have a starting dwelling coverage amount of $250,000 and personal property limits of $100,000. For policies with a dwelling coverage limit of $2,000,000, personal property limits increase to $800,000. Regardless of dwelling coverage limits, liability coverage stays at $100,000.
If you live somewhere else in the state, you can compare home insurance rates in Nebraska as a whole.
The Average Cost of Homeowners Insurance in Omaha for 2022
The average cost of home insurance in Omaha is $3,327 per year or about $277 per month. This is more expensive than the statewide average cost of home insurance in Nebraska, which is $2,972 per year. The national average cost of home insurance across the country is $2,103 per year.
Calculate the Cost of Home Insurance in Omaha
Many factors can play a role in determining the cost of a home insurance policy in Omaha, with the location being just one of them. Your rates are also affected by your credit rating, how much dwelling and personal property coverage you purchase and other factors. MoneyGeek provides you with a handy home insurance calculator to compare home insurance quotes in Nebraska.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Omaha
While cost is an important factor while looking at homeowners insurance policies in Omaha, you should also look at the quality of the customer service experience. During a crisis, you would want your claim processed quickly and without any issues. You will also want a financially stable company so that they would pay a legitimate claim reliably.
Based on a study conducted by MoneyGeek, the providers with the best homeowners insurance in Omaha are:
- Best Overall: Farmers
- Runner-up: Nationwide
MoneyGeek employs a unique scoring system to rank home insurance companies based on three broad criteria: financial stability, user satisfaction and affordability.
Farmers offers several unique coverage options that can be beneficial for customers. For example, all Farmers policies come with a declining deductible, which means that your deductible decreases by $50 for every year you hold a policy. Farmer also offers Eco-Rebuild coverage, where you can get up to $25,000 extra for a claim if you choose to rebuild and replace materials with green alternatives.
Our top pick for Omaha is Farmers, with excellent scores across all categories and a perfect score for affordability. With a Farmers policy, you can easily bundle Farmers Identity Shield to cover the expenses of a stolen identity.Read MoneyGeek's Farmers home Insurance Review
Nationwide offers several add-ons that customers find practical and useful. With Better Roof Replacement, they would replace a damaged roof with a higher quality of protective materials. Homeowners with a Nationwide policy can also include identity theft coverage to cover the costs of keeping their personal data secure.
Nationwide is our pick for runner-up, with strong scores across the board. Nationwide offers replacement cost coverage for your personal belongings so that you can replace damaged or lost items with replacements of similar quality when you make a claim.Read MoneyGeek's Nationwide home Insurance Review
Cheapest Home Insurance Companies in Omaha for Newly Constructed Homes
Generally, homes in Omaha that are newly built are cheaper to insure. Homes made with modern materials are more resistant to damage, creating a lower probability of the homeowner filing a claim. It is also easier for insurers to replace newer materials. Home insurance for a newly constructed home in Omaha costs about $2,372, while a policy for a home built in 2000 costs an average of $3,327 per year.
If you are a homeowner in Omaha with $250,000 in dwelling coverage for a newly built home, the two companies that offer you the cheapest home insurance in Omaha are:
- Farmers: $1,835 per year
- Nationwide: $1,913 per year
The Cheapest Home Insurance in Omaha for New Homes, Ranked
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Cheapest Home Insurance Companies in Omaha if You Have a Lot of Personal Property
Typically, your home insurance in Omaha will cover not just the home itself but also the personal property you keep at home. The higher the amount of personal property coverage you choose, the higher your premiums will be. A standard home insurance policy in Omaha with a personal property coverage limit of $100,000 costs about $3,327 per year, while a policy with an enhanced personal property coverage limit of $250,000 would cost about $3,605 per year.
For Omaha homes with the same $250,000 in dwelling coverage but an increased personal property coverage limit of $250,000, the two cheapest companies providing home insurance in Omaha are:
- Farmers: $2,789 per year
- Nationwide: $2,907 per year
Cheap Companies in Omaha for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Omaha for High Deductibles
A deductible is an amount you pay out of pocket whenever you successfully file a claim. Deductibles can have a significant impact on home insurance costs in Omaha.
For instance, a policy with the standard $1,000 deductible costs $3,327 per year on average. However, a policy with a higher $2,000 deductible costs $2,941. The higher your deductible, the lower the premium you have to pay.
On average, the two companies with the cheapest home insurance in Omaha for homeowners with a larger $2,000 deductible are:
- Farmers: $2,276 per year
- Nationwide: $2,372 per year
The Cheapest Companies in Omaha for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Omaha if You Have Poor Credit
Your credit score is a factor that home insurance companies in Omaha can consider while calculating your insurance premiums. Generally, insurers consider that customers with lower credit scores are more likely to file claims. Therefore, if you have bad credit, it is likely you would pay higher premiums.
For example, a policy for an average customer in Omaha with a good credit standing costs an average of $3,327 per year. In contrast, it would cost $7,188 on average for a customer with bad credit.
If you have bad credit, here are the two companies in Omaha that generally offer the cheapest average premiums:
- Travelers: $4,643 per year
- Allstate: $4,874 per year
The Cheapest Companies in Omaha for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Omaha
If you want an online homeowners insurance quote in Omaha, you need to have a few details ready. Here are some important ones:
- Home replacement cost – This is the amount it takes to rebuild your home using similar materials if it gets damaged. The replacement cost for your home determines your dwelling coverage limits. It’s ideal to hire a professional — either a building contractor or an independent appraiser — to get an accurate estimate.
- Personal property value – The value of your personal belongings will determine the personal property coverage limits.
- Personal information– Insurance websites will ask for your address, the number of people living in your household and your insurance history, among other things.
- Details about your house – This is information about your home, including how big it is and whether you have any security devices. Insurers will also ask when it was built.
Homeowners Insurance in Omaha Analysis: Methodology
For this study, the base profile of the average homeowner is someone with a 2,500-square-foot home built in 2000 with dwelling coverage of $250,000, personal property coverage of $100,000 and liability coverage of $100,000. All policies have a $1,000 deductible.
MoneyGeek analyzed home insurance premiums in Omaha from seven insurance providers using data provided in partnership with Quadrant. We calculated affordability using quotes for a home with various coverage levels while customer satisfaction ratings were sourced from J.D. Power. We gathered quotes from homeowners with newly built homes, higher deductibles, increased dwelling or personal property coverage and poor credit ratings to ensure accurate information for all possible situations.
About Mark Fitzpatrick