The vehicle model you are buying coverage for is a large consideration when looking for cheaper auto insurance for drivers over age 60. Vehicles with high performance engines, a lack of advanced safety features, or a track record of large liability claims will cost much more to insure than safer models. The information below illustrates auto insurance premiums for a number of the most affordable vehicles to insure in Nebraska.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $1,051 |
| Ford Escape XLS 4WD | $1,057 |
| Honda Accord LX-P 4-Dr Sedan | $1,051 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,141 |
| Hyundai Elantra SE Touring Station Wagon | $1,146 |
| Toyota Prius | $1,162 |
| Dodge Grand Caravan SE | $1,181 |
| Ford Explorer XLT 4WD | $1,188 |
| Ford Edge SEL AWD | $1,224 |
| Toyota Tacoma 2WD | $1,234 |
| Honda Civic DX 4-Dr Sedan | $1,224 |
| Toyota Camry LE | $1,248 |
| Chevrolet Impala LT | $1,258 |
| GMC Sierra SLE Regular Cab 2WD | $1,248 |
| Chevrolet Equinox LS AWD | $1,255 |
| Chevrolet Malibu Hybrid | $1,248 |
| Nissan Altima 2.5 4-Dr Sedan | $1,258 |
| Toyota RAV4 Limited 2WD | $1,248 |
| Ford F-150 XLT Crew Cab 4WD | $1,269 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $1,288 |
| Ford Focus SEL 4-Dr Sedan | $1,293 |
| Honda Odyssey EX-L | $1,311 |
| Toyota Corolla S | $1,319 |
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Table data represents single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Information does not factor in specific location which can raise or lower premium rates substantially.
Looking at the data, you can expect vehicles like the Honda CR-V, Ford Escape, Honda Accord, and Volkswagen Jetta are most likely going to be some of the most affordable vehicles to insure for older drivers.
Comparing rates for cheap car insurance is not the easiest thing to do, and determining which companies offer the best insurance rates for drivers over age 60 takes more quotes for comparison.
Every insurance provider has a proprietary formula to establish rates, so let’s take a look at the insurance companies that tend to have lower prices in Omaha, NE.
Find the Cheapest Auto Insurance for Age 60+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $812 |
| 2 | The Hartford | $839 |
| 3 | Auto-Owners | $896 |
| 4 | Allied | $911 |
| 5 | Farmers Mutual of Nebraska | $979 |
| 6 | Farm Bureau Mutual | $1,010 |
| 7 | Nationwide | $1,037 |
| 8 | State Farm | $1,065 |
| 9 | American National | $1,087 |
| 10 | General Casualty | $1,092 |
| 11 | USAA | $1,116 |
| 12 | California Casualty | $1,257 |
| 13 | MetLife | $1,280 |
| 14 | Iowa Mutual | $1,295 |
| 15 | American Family | $1,296 |
| 16 | EMC | $1,300 |
| 17 | GEICO | $1,308 |
| 18 | Progressive | $1,460 |
| 19 | Farmers | $1,650 |
| 20 | North Star | $1,710 |
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Safeco may have some of the best car insurance rates in Omaha at around $812 each year. This is $504 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska would also make the list of some of the cheapest Omaha, NE insurance companies.
In the rate table above, if you are currently insured with The Hartford and switched to Safeco, you might realize a yearly price reduction of upwards of $27. Drivers with Auto-Owners may save as much as $84 a year, and Allied policyholders might realize rate reductions of up to $99 a year.
To find cheaper insurance rates for your vehicle, click here to get a free quote or quote prices from the following companies.
It’s important to note that these estimates are averaged for all insureds and vehicles and and are not calculated with an exact location for drivers over age 60. So the insurer that is most affordable for your situation may not even be in the list above. That’s why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
One of the more important things that are looked at to determine insurance cost is where you live in Omaha. Cities with more crime and/or more people will most likely have higher rates, whereas less populated areas benefit from having to pay less for coverage.
The illustration below lists the priciest cities in Nebraska for drivers over age 60 to purchase auto insurance in. Omaha makes the list at #8 with an annual rate of $1,270 for coverage, which is approximately $106 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Scottsbluff | $1,374 |
| 2 | Gering | $1,357 |
| 3 | Alliance | $1,354 |
| 4 | Lexington | $1,303 |
| 5 | McCook | $1,292 |
| 6 | South Sioux City | $1,290 |
| 7 | North Platte | $1,288 |
| 8 | Omaha | $1,270 |
| 9 | Kearney | $1,236 |
| 10 | Nebraska City | $1,224 |
| 11 | Beatrice | $1,222 |
| 12 | Seward | $1,215 |
| 13 | Crete | $1,210 |
| 14 | Blair | $1,200 |
| 15 | Fremont | $1,177 |
| 16 | La Vista | $1,162 |
| 17 | Norfolk | $1,159 |
| 18 | Grand Island | $1,158 |
| 19 | Bellevue | $1,155 |
| 20 | Hastings | $1,147 |
| Find Cheaper Rates Go | ||
Premium costs are estimated as specific Omaha garaging address can revise prices considerably.
Ending up with a good quality insurance provider is difficult considering how many companies there are to choose from in Omaha. The company ratings listed below could help you analyze which coverage providers to look at when looking for cheaper rates. These ratings only include the companies with a significant amount of written premium nationwide, so smaller companies are not taken into consideration for 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
Tickets and at-fault accidents raise rates
The best way to get good insurance premiums in Nebraska for older drivers is to drive cautiously and avoid at-fault accidents and violations. The illustration below demonstrates how citations and at-fault fender-benders can increase premium costs for each different age category. The rate quotes are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of an auto insurance policy in Nebraska per year with a clean driving record and no accidents is $1,605. Add in two speeding tickets and the average cost rises to $2,138, an increase of $533 each year. Next add two accidents along with the two speeding tickets and the 12-month cost of insurance for drivers over age 60 goes up to an average of $4,376. That’s an increase of $2,771, or $231 per month, just for not driving safely!
Full coverage versus liability only rates
Paying a lower price for insurance is the goal of the majority of vehicle owners, and one great way to buy cheap insurance for drivers over age 60 is to not insure for full coverage. The diagram below compares yearly insurance costs when comparing full coverage to liability only. The price estimates are based on no violations or accidents, $500 deductibles, single marital status, and no other discounts are factored in.
Averaged for all ages 20 through 70, physical damage coverage costs $1,417 per year more than carrying just liability coverage. Many of you may wonder if full coverage is worth the money. There is no definitive guideline of when to drop comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let’s pretend your vehicle’s book value is $10,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $9,500 after paying your deductible. If you are paying over $950 a year for full coverage, then it might be time to consider dropping full coverage.
There are some scenarios where eliminating full coverage is not a good plan. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.
Compare rates to save
Nebraska insurance rates are calculated based on many things which can significantly increase or decrease the policy premium. Improving your credit rating, marrying your spouse, or getting a reckless driving citation can trigger price changes that can cause some rates to be cheaper than competitors.
Additionally, companies modify rates at least once a year to reflect underwriting profits or losses. Larger than normal claims can result in more expensive premiums, while a lower level of claims may produce lower-cost Omaha car insurance rates.
As an example, the data 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 excellent credit. When comparing rates based on his current risk profile, Safeco quotes the cheapest car insurance rates in Omaha at $923 a year. This is $393 less than the average rate paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska are the remaining top five cheapest Omaha, NE auto insurance companies.
Now we will give the driver from above an accident claim, a lower credit rating, and a few blemishes on his driving record. Since each auto insurance company has their own guidelines for establishing rates, comparing prices may now show a substantially altered list of the cheapest car insurance companies in Omaha as shown below.
Nationwide now has the lowest car insurance rate in Omaha, NE with American National, State Farm, General Casualty, and USAA also being competitive. This illustrates why Nebraska drivers need to compare as many rates as possible when trying to find the lowest insurance rates for drivers over age 60.
Insurance rates are calculated by many factors and can change without notice, so the most affordable company the last time you compared rates may now be wasting a lot of money.