Nebraska Home Insurance

Most Nebraskans rest easy knowing their homes are safe and secure out on the plains, but keeping your home insured against disaster is just as important as have good storm shutters. That’s why The Simple Dollar has compiled a resource of links, data, and state organizations to help readers stay on top of their homeowners insurance policies and make the most of their coverage.

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Stats in Your State

Below you’ll find crucial data sets that illustrate the state of the housing market, home insurance premiums, and other factors across Nebraska. Sometimes the best way to understand a concept is to visualize it, so we’ve put together a number of charts and graphs to make things easily understandable. So read on to learn more about the factors affecting these and more in Nebraska.

Homeowner Insurance Premiums

From 1999 to 2008, Nebraska home insurance premiums have danced right around the U.S. average, never straying more than $10 to $25 apart from one another throughout the decade. This indicates not Nebraska homes present roughly the same risk factor of damage as do the average of all other homes in the U.S.

Renter Insurance Premiums

Unlike the home insurance market, the renters insurance market in Nebraska has stayed well below the U.S. average over the same time frame, with premiums roughly $50 to $30 below the U.S. average, indicating a low-cost and low-risk market of rental properties in the state.

Existing Home Sales

The Nebraska housing market spiked along with the U.S. as a whole, followed by a deep decline in following years from a high of 41,200 sales in 2005 to roughly 31,000 sales in 2008. While the swing is not nearly as large in number as that of say, California, it still represents a 25% swing.

Flood Insurance in Region

Approximately 388 flood damage claims were filed in Nebraska in the year between October 2011 and September 2012, with roughly $7,111,000 worth of damage in total. These numbers place Nebraska just behind Minnesota and Kansas in terms of low-cost states for flood damage claims in the region.

Homes Built

Following a boom of housing development in the 1930s, Nebraska home development has grown steadily through the 20th and early 21st centuries, but recently experienced a steep dropoff following 2005.

Rules in Your State

The rules and regulations governing homeowners insurance in Nebraska are fairly straightforward. There are specific prohibited acts laid out by the legislature, and other factors not considered there are generally regulated by your insurance contract. If you feel that your rights have been violated, consult with an attorney to see what your options me be.

Unfair Property and Casualty Insurance Trade Practices

The above link directs to the clearly defined unfair trade practices with regards to property and casualty claims. Homeowners insurance claims typically fall under those two categories in terms of either property damage or liability for someone’s injuries.

Nebraska Rules and Regulations Search Tool

The rules and regulations search tool allows readers to browse the regulations database to find specific regulations in the Nebraska legislature.

Representatives & Resources in Your State

Here readers will find links to state organizations and resources to assist in filing complaints against insurance companies as well as learning more about how insurance works in Nebraska. The Department of Insurance has several useful guides to help consumers stay on top of their insurance needs and get a better understanding of the ins and outs of their policy.

Nebraska Department of Insurance
PO Box 82089
Lincoln, NE 68501-2089
(402) 471-2201
Consumer Complaint Resource
Property and Casualty Information Resource
The property and casualty information available from the Department of Insurance is a great starting point to learn about different types of homeowners claims and what types of insurance coverage you’ll need to keep your risks in check.
Insurance Brochures
These Department of Insurance guides cover the bases from auto to home to health and life insurance, and consumers will find useful information on understanding how various types of insurance work.

Federal Emergency Management Association: Region 7
Droughts, storms, and particularly tornadoes threaten Nebraska each year, and it’s importnat for residents to be prepared in case of a disaster. The FEMA Region 7 offices have helpful tips on how to be prepared, and what to do in case of a disaster or emergency.