Who Has Affordable Auto Insurance for Low Income Drivers in Omaha?

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.

Cheapest Vehicles to Insure in Omaha, NE
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.

How much does car insurance cost in Omaha, NE?
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

Discounts on car insurance for low income driversAuto 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:

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.