The type of vehicle needing coverage is a large consideration when consumers are trying to find cheaper insurance for low income drivers. Vehicles with reasonable performance levels, excellent safety ratings, or low incidents of liability claims will cost much less to insure than higher performance models.
The next list ranks auto insurance rates for the most cost-effective vehicles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,048 |
| Ford Explorer XLT AWD | $1,151 |
| Honda CR-V EX-L 2WD | $1,202 |
| GMC Sierra SLE Regular Cab 2WD | $1,213 |
| Dodge Grand Caravan SXT | $1,236 |
| Chevrolet Malibu LT | $1,245 |
| Honda Accord LX 4-Dr Sedan | $1,257 |
| Toyota Corolla XLE | $1,277 |
| Toyota Prius | $1,300 |
| Chevrolet Silverado LT Extended Cab 2WD | $1,310 |
| Toyota Tacoma 4WD | $1,319 |
| Hyundai Elantra SE Touring Station Wagon | $1,365 |
| Chevrolet Impala LS | $1,367 |
| Toyota Camry Hybrid | $1,388 |
| Volkswagen Jetta S 4-Dr Sedan | $1,392 |
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Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Price estimates do not factor in specific Omaha, NE garaging location which can lower or raise premium rates significantly.
Based on these rates, you can infer that vehicles like the Ford Escape, Ford Explorer, Honda CR-V, and GMC Sierra are most likely to be some of the most economical vehicles to insure for poor drivers.
For poor drivers, one of the big things that are looked at to determine the amount you pay for auto insurance is your address. Areas with a lot of weather claims or more people tend to pay slightly more, whereas areas with less crime or weather claims tend to receive slightly lower rates.
The table below ranks the most expensive cities in Nebraska for low income drivers to purchase car insurance in. Omaha shows up at #8 costing $1,257 for the average policy, which is about $105 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Alliance | $1,340 |
| 2 | Scottsbluff | $1,334 |
| 3 | Gering | $1,317 |
| 4 | McCook | $1,292 |
| 5 | North Platte | $1,288 |
| 6 | Lexington | $1,264 |
| 7 | Beatrice | $1,259 |
| 8 | Omaha | $1,257 |
| 9 | South Sioux City | $1,251 |
| 10 | Crete | $1,246 |
| 11 | Kearney | $1,236 |
| 12 | Blair | $1,188 |
| 13 | Nebraska City | $1,188 |
| 14 | Seward | $1,179 |
| 15 | Bellevue | $1,179 |
| 16 | Columbus | $1,174 |
| 17 | La Vista | $1,162 |
| 18 | Hastings | $1,158 |
| 19 | York | $1,156 |
| 20 | Fremont | $1,142 |
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Prices are estimated as the specific Omaha residence address can influence premiums greatly.
Discounts on Omaha auto insurance rates
Auto insurance companies that offer quotes for low income drivers may additionally offer special discounts that can reduce rates by as much as 35% or more if you are eligible. A few popular companies and a selection of discounts are:
- GEICO has savings for multi-policy, air bags, anti-lock brakes, military active duty, daytime running lights, and seat belt use.
- Mercury Insurance offers premium reductions for age of vehicle, professional/association, ease of repair, accident-free, anti-theft, type of vehicle, and annual mileage.
- Farmers Insurance may have discounts that include multi-car, early shopping, youthful driver, alternative fuel, good student, and business and professional.
- Auto-Owners Insurance includes discounts for safe driver, multiple vehicles, student away at school, paid in full, and group or association.
- Liberty Mutual offers discounts including multi-car, newly retired, multi-policy, hybrid vehicle, teen driver discount, safety features, and newly married.
- SAFECO may offer discounts for multi-car, homeowner, anti-theft, teen safe driver, and teen safety rewards.
- Progressive may include discounts for multi-vehicle, continuous coverage, homeowner, online signing, multi-policy, good student, and online quote discount.
- USAA policyholders can earn discounts including loyalty savings, defensive driver, military installation, driver training, new vehicle, and good student.
The diagram below illustrates the difference between car insurance rates with and without some available policy discounts. Data assumes a male driver, no tickets, no at-fault accidents, Nebraska state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with passive restraint, anti-theft, multiple policy, multiple vehicle, defensive driving course, and safe-driver discounts applied. When drivers take advantage of discounts, the average savings per year on car insurance for low income drivers is 28% or $392.
The chart below illustrates how your deductible choice can impact insurance rates when quoting cheap insurance for low income drivers. The rates are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
As shown above, a 30-year-old driver could lower their policy premium by $278 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $418 by choosing a $1,000 deductible. Even younger insureds, such as the 20-year-old chart data, could save $808 annually by choosing a higher deductible. When increasing deductibles, it will be important to have enough in a savings account to be able to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
The benefits of price comparisons
Omaha, NE car insurance rates are calculated based on many things which can substantially decrease or increase the cost of a policy. Getting older, buying a different vehicle, or having a fender bender can trigger rate changes that can now make some companies cheaper than before.
In addition to those changes, auto insurance companies change their prices every year in order to protect their financial rating. Higher than normal claim frequency or severity may cause additional price hikes, while profitable underwriting may produce cheaper Omaha car insurance rates.
To help illustrate this point, the graph below demonstrates which company has the cheapest car insurance in Omaha, NE for a 35-year-old male driver with no accidents, a clean driving record, and a good credit rating. Based on his personal profile, Safeco might quote the best car insurance rates in Omaha at $933 annually. This is $383 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Nationwide are the rest of the top five cheapest Omaha, NE auto insurance companies.
In this next rate comparison, we will give the driver in the first example a couple of claims, a lower credit rating, and a speeding citation. Since each company uses their own calculation for determining prices, comparing insurance quotes may now present a new list of affordable companies as shown below.
Farm Bureau Mutual now has the lowest price in Omaha with American National, State Farm, General Casualty, and USAA also having competitive pricing. This illustrates why Nebraska drivers need to do a thorough rate comparison when trying to get affordable insurance quotes for low income drivers. Insurance prices are influenced by many things and can change substantially, so the most economical option when you last compared rates may now cost much more than other companies.