Nebraska Home Insurance
Whether you live in a farmhouse near Kearney, a condominium
in Lincoln, or a home in the suburbs outside of Omaha, you
still need Nebraska home insurance. After all, home insurance protects you and
your family, so that if anything bad happens, the money you need to rebuild is
there. Still, there’s no reason to spend a fortunate on
homeowners insurance in Nebraska, so we’ll show you how to
get the best deal. In just a few minutes you’ll know what
to look for in a home insurance policy, how much home
insurance coverage you'll need to buy, and tips to save
money and to lower your insurance rates.
Nebraska Home Insurance Coverage
Home insurance covers four primary things:
- Property damage coverage – the cost to
repair or replace the dwelling
- Personal property coverage – all
the things you own inside your home, like furniture,
clothing, appliances, etc.
- Medical payments coverage –
covers medical bills for someone injured on your property
or by your property. This only covers people outside your
- Liability coverage – repairs or
replaces other people’s property damaged by you or your
of Nebraska Home Insurance
The main difference between home insurance policies is how
much replacement coverage each provides. The key is to have
enough coverage without buying something you don’t need.
There are three types of home insurance policies:
- Actual Cash Value – covers the
replacement cost of property, less depreciation.
- Replacement Coverage – pays the
replacement cost of the loss, up to the limits of the
- Guaranteed Replacement Coverage –
fully covers the replacement cost of the loss, even if it
is more than the policy limits.
If your home was accidentally damaged or destroyed and you
had an Actual Cash Value policy, it would be up to you to make
up the difference between the depreciated value of your
property and the actual cost to repair or replace it. This type
of home insurance is the cheapest available, but leaves you the
most vulnerable if something happens.
On the other hand, guaranteed replacement coverage ensures
that you’ll be able to rebuild you home and replace all the
things you owned if your property was destroyed. While this is
the most expensive type of Nebraska home insurance, the
difference in cost compared to the coverage you receive could
easily make it worth the extra few hundred dollars each
the Right Amount of Nebraska Home Insurance
Most insurance companies have formulas which help determine
the current value of your home and property, which is a great
starting point to determine how much coverage to buy. Most
insurance companies insist that you purchase coverage of at
least 80% of the home’s value. If you have a mortgage, the
lender will usually require full coverage.
It’s still your job to make sure this amount is
- Pay attention to the prices of similar homes that have
sold in your neighborhood. Is your policy limit
- Keep track of any major changes in building codes. Any
repairs will be required to meet the latest codes, but it’s
possible your policy hasn’t accounted for them.
- Are there any special features or upgrades which have
increased the value of your home? Make sure the policy
limits are high enough to accommodate this.
Know About Home Insurance in Nebraska
No insurance policy covers everything. That’s why
it’s important to know:
- Most policies don’t cover backed up sewers or drains,
so if that’s common in your area, make sure to add this
- Other Structures – if you have tool sheds, a detached
garage, or green house on your property, make sure they are
included in the policy.
- Home insurance will not pay to repair damage resulting
from deterioration or neglect.
- Flooding is not covered in a home insurance policy. If
flooding is a threat, insurance coverage is available
- There are limits for specific items within the personal
property section of each policy. If you have expensive
items like antiques, computers, musical instruments, or
valuable collections, purchase an additional rider for the
extra coverage you need.
- Inflation can raise the cost of replacing a home. Ask
about adding an inflation guard endorsement to the policy
to make sure you’re protected against this.
Money on Nebraska Homeowners Insurance
There are several things you can do to lower the
cost of your home insurance premiums, such as:
- Increasing the deductible - most
policies include a standard $250 deductible. Raising that
to $500 or even $1000 can make a huge difference, if you
can afford it.
- Combining policies – buying both
home and auto insurance policies from the same company can
save about 10-15% off both policies.
- Safety Discounts – adding smoke
detectors, fire extinguishers and deadbolt locks to your
home makes you eligible for special discounts.
- Claims History – If you have a
history of claims, your rates will be higher. Absorb small
claims if possible.
- Create a Personal Inventory –
Make a list of all the property you own, either written or
video. That way if you need to remember just what you had
it will be easy to check the list. Include purchase dates
- Comparison Shop – Each insurance
company sets rates based on their experience in the area,
so make sure to get several quotes to find the best
More ideas on lowering the cost of home insurance are
available in our Home Insurance Shopping
Additional Information on Nebraska Home
Contact the Nebraska Department of Insurance, 941 “O”
Street, Suite 400, Lincoln, NE 68508, or call their consumer
hotline at 877-564-7323.
Shopping for Nebraska Home
Now that you know what types of policies are available, how
much coverage to buy, and ways to save, it’s time to start
shopping for Nebraska home insurance. Thanks to the internet,
this part is pretty easy. Start by entering your zip code in
the box below. You’ll instantly be matched to top Nebraska
homeowners insurance companies selling policies in your area.
Choose the three that sound best to you and request a free
quote. In no time you’ll have the best deal and can rest
assured that you have the coverage you need at the best price.
Don’t wait – enter your zip code now!