Homeowners Insurance in Omaha, NE

What factors typically influence home insurance rates?

No two houses in Omaha are exactly alike, and neither are their insurance rates. 

Several local and personal factors come into play when insurers calculate your premium. Here's a look at what could influence your home insurance quotes in Omaha:

• Location: Do you dwell near the Missouri River, Papillion Creek, or a known floodplain? Your premiums might be higher due to flood risk. Homes near busy intersections or in areas with higher-crime rates might also pay more.
• Age of your home: Areas such as Field Club or Dundee are filled with 100-year-old homes. They're beautiful; however, old pipes, electrical wiring, or original slate roofs might cost more to insure than new builds in West Omaha or Millard.
• Roof type and age: In storm-prone areas like Omaha, your roof is an important line of defense. A newer, impact-resistant roof may reduce the likelihood of storm damage and, with some insurers, could even help you qualify for discounts. Older roofs, especially those over 15-20 years old, may lead to higher premiums since they can carry more risk of wear and tear. 
• Coverage limits and deductibles: Your choices for coverage and deductibles can affect what you pay. Higher coverage limits may increase your premium, while selecting a higher deductible can sometimes lower it.. Adding optional coverages, such as flood or earthquake protection, may also raise your overall cost. 
• Claims history: Your past claims history is another factor that insurers consider. Having a few or no past claims may make you eligible for discounts with some companies. Multiple claims on the other hand, can sometimes lead to higher rates.  Many home insurance companies in Nebraska use a CLUE report to check your home and auto claims from the last seven years.

Coverage and availability can vary depending on the underwriting carrier. Consult with a licensed insurance producer to determine your eligibility and explore available options.

Common insurance discounts in Omaha

If you're a homeowner in Omaha, there are several ways you may be able to lower your insurance premiums through discounts. Listed below are some of the common insurance discounts you could find in Nebraska.

Here's what to look out for:

• New roof discount: A recently installed roof, especially one rated for high winds or impact resistance, may signal to insurers that your home is better protected from storm damage. Some insurance carriers may offer lower premiums as a result.
• Multi-policy discount: If your insurance company provides more than just homeowners insurance, like auto or renters insurance, you may be able to save by bundling. Buying multiple policies from the same company can sometimes earn a multi-policy discount.
• Security systems discount: Home security features could also lead to potential savings. Omaha homeowners who install burglar alarms, deadbolts, or professionally monitored systems may qualify for a security discount. These upgrades could help lower the risk of theft and make your home less risky to insure.
• New home discount: If your home is newly built or has undergone significant recent renovations, you might qualify for a discount. Homes with updated wiring, plumbing, and roofing are generally considered less risky to insure.
• Loyalty discount: Some insurance carriers may long-term policyholders with loyalty discounts. However, staying with the same insurer doesn’t always mean the lowest rate. It's a good idea to compare Omaha homeowners insurance costs every year to make sure you’re still getting the best value.

What does home insurance in Omaha typically cover?

Homeowners insurance could help protect you financially if something unexpected happens to your home or belongings. It's like a safety net that helps you recover from covered events such as fires, storms, theft, or certain types of accidents.

That said, here's what home insurance in Omaha, NE, typically covers:

• Dwelling coverage: This insurance coverage helps protect the structure of your home itself. If a tornado, fire, or hailstorm damages your house, your policy may help cover the cost to repair or rebuild.
• Other structures: Coverage usually extends to detached structures on your property – like a garage, shed, barn, outdoor fireplace, fence, swing set, or wall.Recreational items, such as trampolines or swimming pools, might also be included. However, because they pose a higher risk, you might need additional liability coverage.
• Personal property coverage: This part of your policy helps cover personal belongings inside your home. It can include furniture, clothing, appliances, and your heating or cooling systems. If you own expensive items such as jewelry, fine art, or collectibles, you might need to purchase extra coverage to fully protect them.
• Personal liability coverage: Liability coverage helps protect you financially if someone is injured on your property and pursues a claim or lawsuit. It could help pay for legal costs, settlements, and medical expenses.
• Loss of use (or additional living expenses): If your home becomes unlivable after a covered event, this coverage helps pay for temporary living expenses, such as hotel stays or meals. 

Additional Omaha insurance coverage options

Your standard home insurance policy in Omaha, NE, doesn't cover everything. Depending on where in Omaha you live, you might want to consider these add-ons:

• Flood insurance: Omaha has a moderate flood risk. If you're near a floodplain or low-lying area, you may want to look into a separate flood insurance policy (available through FEMA or private providers).
• Sewer or water backup: This add-on coverage can help protect you if sewage or water backs up into your home or if your sump pump overflows. It may help with cleanup and certain repair costs,  including repairs to the sewer line within your property boundaries.
• Extended replacement cost: This add-on helps add funds to rebuild your home in the event of a covered loss. Unlike basic replacement cost insurance, this extended coverage boosts your home’s coverage limits.
• Mold protection: Many older homes in Omaha, Nebraska, have charming basements, which also could become damp after snowmelt or a big spring rain. Mold can be expensive to remove and potentially harmful to your health. A mold endorsement on your policy could help with cleanup and repair costs that aren't typically covered under a standard home insurance policy.

What Omaha residents need to know 

Omaha can be a wonderful place to live, though it isn’t without its risks. If you live in Omaha, Nebraska, there are a few important things you should know:

• Don't under-insure your home: With rising construction costs, ensure your policy's dwelling limit reflects today's rebuilding rates, not last year's market value.
• Schedule valuables separately: If you own expensive items, such as vintage guitars, designer handbags, or a Warren Buffett-autographed Berkshire letter, ensure they're separately insured.
• Storm and wind damage: Omaha is at risk for severe storms. Make sure your policy includes adequate wind coverage.

Tips to lower your Omaha home insurance premium

Home insurance in Omaha, NE doesn't have to break the bank, especially if you know a few tricks to keep your premium low.

Here are some smart and simple tips that may help lower your house insurance policy.

• Upgrade your home: Insurance companies typically prefer homes that are built to withstand the elements. Installing fire-resistant roofing, impact-resistant windows, or even a home security system may unlock discounts.
• Skip small claims when you could: Yes, home insurance could help, but not every problem needs to be filed. If your fence gets damaged in a windstorm or a window breaks during a backyard soccer match, it might be cheaper in the long run to pay out of pocket. Filing multiple small claims could flag you as a higher risk, which might lead to premium increases or even non-renewal. Save your coverage for the bigger stuff, like a kitchen fire or severe water damage, and handle the little things on your own when possible.
• Don't just auto-renew; shop around: It's easy to let your policy auto-renew every year, but that could cost you. Instead, obtain at least three quotes when your renewal date approaches. Different insurers weigh things such as Omaha ZIP codes, proximity to a fire station, or your home's age in different ways, so shopping around could reveal a lower rate for the same (or better) coverage.
• Green home discount: Eco-friendly houses could qualify for savings. If your home or property has Energy Star-rated appliances, is LEED-certified, or includes other sustainable features, you may qualify for a green home discount. These upgrades not only help the planet, but they could also reduce your insurance premiums.