You’ve seen the catchy commercials from auto insurance companies like Nationwide, The General, and Farmers guaranteeing the cheapest rates. So drivers just need to choose any of them, right?
It’s just not that easy, however, as there are a ton of unknown elements such as what deductibles you want to use, if you are a man or woman, and if you have a coverage lapse. In this article, we will cover the best ways to compare rates and also should give you a good beginning to your quest for cheaper car insurance in Nebraska.
Shopping around for low-priced car insurance is easier said than done, and determining which company quotes the most affordable car insurance rates for drivers over age 50 calls for a little more work. Each auto insurer has a unique formula to set policy rates, so let’s take a look at the lowest cost car insurance companies in Nebraska.
Find the Cheapest Auto Insurance for Age 50+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $788 |
| 2 | The Hartford | $847 |
| 3 | Auto-Owners | $932 |
| 4 | Allied | $939 |
| 5 | Nationwide | $1,007 |
| 6 | Farmers Mutual of Nebraska | $1,019 |
| 7 | Farm Bureau Mutual | $1,020 |
| 8 | State Farm | $1,033 |
| 9 | General Casualty | $1,081 |
| 10 | American National | $1,087 |
| 11 | USAA | $1,128 |
| 12 | American Family | $1,258 |
| 13 | Iowa Mutual | $1,295 |
| 14 | California Casualty | $1,309 |
| 15 | MetLife | $1,319 |
| 16 | GEICO | $1,322 |
| 17 | EMC | $1,340 |
| 18 | Progressive | $1,445 |
| 19 | Farmers | $1,634 |
| 20 | North Star | $1,693 |
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Safeco generally has some of the most affordable car insurance rates in Omaha at around $788 each year. The Hartford, Auto-Owners, Allied, and Nationwide would also be considered some of the best Omaha, NE auto insurance companies.
In the rate table above, if you are a policyholder with Allied and switched to The Hartford, you might realize a yearly savings of in the neighborhood of $92. Drivers with Nationwide may save as much as $160 a year, and Farmers Mutual of Nebraska insureds might lower prices by up to $172 a year.
To find the cheapest rates for your vehicle, click here to start your free quote or quote rates from the companies below.
Remember that these rates are averaged across all drivers and vehicles and and are not figured with a specific zip code for drivers over age 50. So the insurer that is best suited for you may not even be in the top 24 companies in the list above. That illustrates why you need to get car insurance quotes using your own driver and vehicle profiles.
The make and model of vehicle that needs insurance is probably the biggest factor that determines whether or not you find the lowest-priced insurance for drivers over age 50. Vehicles with high performance, a lack of advanced safety features, or a history of substantial liability claims will cost significantly more to insure than more economical and safe models. The list below estimates insurance prices for a selection of the more affordable automobiles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $1,083 |
| Honda CR-V EX 4WD | $1,091 |
| Hyundai Elantra SE Touring Station Wagon | $1,153 |
| Ford Edge SE 2WD | $1,162 |
| Toyota Prius | $1,176 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,188 |
| Chevrolet Impala LS | $1,232 |
| Ford Focus SE 4-Dr Sedan | $1,241 |
| Honda Odyssey EX | $1,232 |
| Toyota Tacoma Double Cab 4WD | $1,257 |
| Dodge Grand Caravan Hero | $1,263 |
| Jeep Grand Cherokee Laredo 4WD | $1,257 |
| Toyota RAV4 Limited 4WD | $1,264 |
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Estimates do not factor in specific location which can change coverage prices greatly.
Based upon the rates shown, you can conclude that models like the Ford Escape, Honda CR-V, Hyundai Elantra, and Ford Edge are likely to be a few of the less-costly vehicles to insure for older drivers.
Picking a good quality auto insurance provider is difficult considering how many different companies there are to choose from in Nebraska. The company ratings displayed below can help you select which car insurance companies you want to consider when trying find the best insurance for drivers over age 50. These rankings only include the companies with a significant amount of written premium nationwide, so smaller companies will not be included in these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
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Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Omaha auto insurance rates
Insurers that sell policies for drivers over age 50 may have policy discounts that can lower rates by 25% or more if you are eligible for them. A few popular companies and some of their more popular discounts include:
- Farmers Insurance has savings for teen driver, homeowner, distant student, electronic funds transfer, pay in full, and bundle discounts.
- State Farm includes discounts for good student, Drive Safe & Save, driver’s education, good driver, and student away at school.
- Liberty Mutual discounts include new graduate, newly retired, hybrid vehicle, multi-policy, and new move discount.
- MetLife has discounts for multi-policy, good driver, defensive driver, good student, and accident-free.
- Progressive offers discounts including multi-vehicle, online signing, homeowner, multi-policy, and good student.
The information below visualizes the comparison of annual premium costs with and without discounts applied to the premium. The costs are based on a male driver, no claims or violations, Nebraska state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with homeowner, multiple policy, vehicle safety, defensive driving course, claim-free, and accident-free discounts applied. When discounts are factored in, theaverage yearly reduction on car insurance for drivers over age 50 is 30% or $374.
Liability rates compared to full coverage
Finding cheaper car insurance is probably important to the majority of people, and one of the best ways to save on the cost of insurance for drivers over age 50 is to not buy comprehensive and collision coverage. The example below illustrates the difference between auto insurance costs with full coverage and liability only. The premium estimates are based on a clean driving record, no claims, $250 deductibles, drivers are single, and no additional discounts are factored in.
As an average, comprehensive and collision coverage on your policy costs $2,144 per year more than buying just liability insurance. That may make you wonder if buying full coverage is a good investment. There isn’t a steadfast formula of when to phase out comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.
There are a few cases where dropping physical damage coverage is not a good idea. If you haven’t satisfied your loan, you are required to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should not buy liability only.
How to find cheaper auto insurance for drivers over age 50
The list below summarizes a few penny-pinching solutions that can help Nebraska drivers find cheap coverage.
- Increase the comprehensive and collision deductibles on your policy
- If your vehicles are older, consider dropping full coverage
- Being accident-free can lower rates significantly
- Be a cautious driver
- Try to remain claim-free
- Comparison shop frequently
That last piece of advice is highly critical, as we noted in the prior information. Insurance rates fluctuate constantly, so drivers shouldn’t hesitate to buy a different policy if a more affordable price is available. Loyalty to a specific company is fine, but we do not recommend it if that faithfulness ends up costing you several hundred dollars every year. It takes less than five minutes to shop around and find cheaper car insurance for drivers over age 50 in Omaha.