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Nebraska Auto Insurance
Nebraska auto insurance laws require drivers to carry two types of coverage - liability coverage and uninsured motorist coverage. The liability coverage pays for damages caused by an accident to other drivers and property when you cause an accident. The uninsured motorist coverage, which consists of both uninsured motorist bodily injury protection and uninsured motorist property damage coverage, pays for expenses when accidents are caused by drivers who do not have proper insurance to cover the costs.
Nebraska Auto Insurance Coverage
Nebraska liability auto insurance minimums are currently set at 25/50/25. This means that all drivers must buy coverage that pays $25,000 per person injured in an accident, up to $50,000 for all people involved, and $25,000 of coverage available for property damages.
The required uninsured motorist coverage minimums in Nebraska are 25/50. This pays out $25,000 per person and up to $50,000 per accident.
As in all states, Nebraska carriers offer collision and comprehensive coverage in addition to the minimum required coverage. These should always be purchased by drivers who own more expensive vehicles. It will also be required if you finance or lease your car.
Nebraska Auto Insurance Rates
Nebraska has relatively inexpensive auto insurance when compared to the rest of the nation. In fact, a recent study ranked Nebraska's rates 43rd in the country with $624.26 spent annually by the average driver . Nebraska insured drivers spend on average $326.89 on liability coverage, $226.82 on collision coverage, and $208.72 on comprehensive coverage annually.
How are Nebraska auto insurance premiums calculated? Insurance companies begin with figuring out the cost to do business in the state, including legal fees, consumer fraud, traffic accidents, taxes, and other statewide risk factors.
They then create categories of drivers, ranging from high risk to low risk. They gather information from individuals like car type, age, location, and driving record to determine in which category a driver belongs. These individual factors are used in conjunction with the overall statewide cost factors to determine the actual premium an individual driver will pay in Nebraska.
Nebraska Auto Insurance Carriers
Even though most companies use the same basic variables to determine auto insurance premiums, they generally utilize different formulas. This can make rates differ greatly when comparing different carriers. For this reason, it is always good practice to get quotes from different companies.
There are fewer insurers operating in Nebraska than in some larger states, but there are still a lot of options for consumers.
Official Information and Resources
Nebraska Department of Insurance
941 "O" Street, Suite 400
Lincoln, NE 68508-3639
Phone: (402) 471-2201
Toll Free Hotline (877) 564-7323 (Consumers Only)
For other Nebraska Insurance Resources, See:
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