How Much is Omaha Auto Insurance for High Mileage Drivers?

For high mileage drivers, one of the more important considerations that help determine the annual cost of car insurance is where you choose to live in Omaha. Areas with increased crime or more people likely pay more, whereas areas with less crime or weather claims have the luxury of cheap car insurance rates.

The table below rates the priciest cities in Nebraska for high mileage drivers to buy car insurance in. Omaha makes the list at #10 with the annual price of $1,220 for the average policy, which is around $102 per month.

Rates are estimated as vehicle location can modify premium rates considerably.

Determining which company offers the lowest-priced insurance rates for high mileage drivers may require a bit more effort in order to find the best price.

Each auto insurance company has a unique formula to determine premium rates, so let’s take a look at the most budget-friendly insurance companies in Omaha.

Best Cheap Insurance Rates in Nebraska

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Safeco generally has some of the cheapest car insurance rates in Omaha at around $788 per year. This is $528 less than the average policy premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska are also some of the cheapest Omaha, NE auto insurance companies.

As depicted above, if you currently have coverage with Farmers Mutual of Nebraska and switched to The Hartford, you could see yearly savings of in the neighborhood of $144. Drivers with Farm Bureau Mutual might save as much as $145 a year, and Nationwide insureds might lower prices by up to $172 a year.

Understand that those prices are averages for all insureds and vehicles and do not factor in a specific zip code for high mileage drivers. So the car insurance company that fits your situation best may not even be in the list above. That underscores the importance of why you need to get car insurance quotes using your own individual information.

The vehicle on the policy is one of the largest factors that determines whether or not you can buy the lowest-priced coverage for high mileage drivers. Vehicles with lots of speed or power, a lack of safety features, or a track record of large liability claims will cost more to insure than more modest models. The list below shows insurance costs for a selection of the most economical automobiles to insure.

Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can impact coverage rates greatly.

Based upon the table data, vehicles like the Ford Escape, Honda CR-V, and Ford Fusion are most likely going to be some of the more affordable vehicles to insure for high mileage drivers.

Should you buy full coverage?

Reducing the cost of insurance is important to most drivers, and one of the easiest ways to find cheaper insurance for high mileage drivers is to not buy full coverage. The illustration below shows the comparison of insurance premiums with full coverage compared to only the Nebraska minimum liability coverage. The data is based on no violations or claims, $500 deductibles, drivers are single, and no other discounts are factored in.

If we average the cost for all age groups, full coverage on your policy costs an extra $1,889 per year more than insuring for liability only. Many drivers will wonder if it’s worth it to buy full coverage. There is no clear-cut formula for phasing out full coverage, but there is a general convention. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then you might consider buying liability only.

For example, let’s say your vehicle’s replacement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $6,000 after you pay the deductible. If you are paying in excess of $600 a year for physical damage coverage, then you might consider buying liability only.

Choosing a good quality insurance company can be rather challenging considering how many companies there are in Nebraska. The ranking information displayed below could help you decide which auto insurers to look at when comparing rate quotes. The ratings below are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies that may only write in Nebraska will not be included in the list.

Top 10 Large Car Insurance Companies in Omaha Ranked by Value

1. USAA
2. GEICO
3. AAA Insurance
4. Liberty Mutual
5. State Farm
6. Allstate
7. Safeco Insurance
8. Travelers
9. 21st Century
10. Nationwide

Top 10 Large Car Insurance Companies Overall in Omaha

1. USAA
2. 21st Century
3. GEICO
4. Nationwide
5. AAA Insurance
6. Liberty Mutual
7. Safeco Insurance
8. State Farm
9. Travelers
10. American Family

The illustration below illustrates how choosing a deductible can increase or decrease insurance prices when researching cheap insurance for high mileage drivers. The data is based on a single female driver, full physical damage coverage, and no other discounts are factored in.

As shown above, a 30-year-old driver could cut expenses by $368 a year by increasing from a $100 deductible up to a $500 deductible, or save $554 by changing to a $1,000 deductible. Young drivers, like the 20-year-old category, could shave as much as $824 or even more by using higher deductibles when buying full coverage.

If you do raise deductibles, it is important to have plenty of discretionary funds to be able to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

The importance of shopping around

Nebraska insurance rates are influenced by many factors which can substantially change the cost of your policy. Simply getting older, getting divorced, or having a fender bender may cause policy rate changes that can cause some rates to be affordable when they were higher priced.

Also, car insurance companies file new Nebraska car insurance rates as often as every quarter to adjust for gains or losses. Higher than usual claims may result in a rate increase, while lower claims may produce lower-cost Omaha car insurance rates.

For example, the graph below shows the companies that have the cheapest car insurance in Omaha, NE for a 35-year-old female driver with a clear driving record, no claims, and a high credit rating. If we estimate prices based on her current risk factors, Safeco might offer the best car insurance rates in Omaha at $923 per year. This is $393 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska are the rest of the cheapest Omaha, NE auto insurance companies.

Now we will pretend the driver from above an accident surcharge, a lower credit rating, and a speeding citation. Since each auto insurance company has their own formula for determining rates, comparing prices may result in a slightly different list of the cheapest companies as shown below.

State Farm now has the cheapest insurance rate in Omaha with Nationwide, American National, USAA, and General Casualty now being in the top five. This example illustrates why Omaha drivers need to do a thorough rate comparison to find affordable car insurance rates for high mileage drivers.

Insurance rates can be altered by many factors and can change substantially, so the best option the last time you compared rates may now be priced much higher than other options.