58% are homeowners of homes among the 287,000 Lincoln residents. These residents need to find the best affordable homeowners insurance in Lincoln, particularly since the average cost for homeowners insurance is well over the national average at $1,312 per year, $2,060 for $250,000 of dwelling coverage.
Lincoln has a crime level that is over 80% higher than other US cities. It’s also located in tornado Alley. Lincoln residents should shop around to find the best homeowners insurance carriers. There are many factors that affect the home insurance coverage and discounts available to Lincoln homeowners. Homeowners can find great insurance companies by doing a little bit of research.
The best home insurance rates in Lincoln
Lincoln residents have many options when it comes choosing the right homeowners policy. Based on 2020 J.D., Bankrate calculated customer satisfaction ratings. Bankrate reviewed many of the available insurance carriers in Lincoln to find the most affordable home insurance.
American Family
American Family is the most affordable of all five Lincoln home insurance companies. They are affordable and have a high customer satisfaction rating, making them a great choice for Lincoln homeowners who want to protect their home as well as their finances.
American Family provides all the standard coverages, plus additional options like credit theft coverage, equipment breakdown coverage and matching siding protection. You can also get discounts such as multi-policies discounts, autopay enrollment, full payments, loyalty, and many other benefits.
All over the country
Nationwide offers standard homeowners insurance, but customers can also purchase ordinance insurance to rebuild their home to code in case of loss. Additional add-ons, such as flood and water backup insurance, can be purchased if necessary.
Lincoln residents can take advantage of several discounts, including those for living in gated communities and safety devices like security systems.
Travelers
Additional coverage options are available for travelers insurance, in addition to the standard homeowners insurance coverage. You can add on loss of use to protect your home in the case of a tornado, making it inhabitable. Personal articles floater can also be added for protection in the case of a burglary.
Travelers offers several discounts to its customers, including multi-policy loss-free, protective, and green home discounts, as well as new homebuyer and green home discounts.
MetLife
MetLife offers home insurance at competitive rates with a variety of additional coverage options. MetLife policies cover hail, vandalism, lightning, fire, hail and theft. MetLife offers coverage that covers the cost of replacing damaged items in the event of a covered catastrophe. Their homeowners insurance policies often include identity theft coverage.
MetLife does not offer many discounts, but they do offer discounts for bundling policies and home safety products.
Farmers
Farmers Insurance offers many coverage options and discounts. Homeowners can add on coverage to cover eco-rebuild, living expenses for the event of a covered incident, medical payments, and contents replacement cost coverage. This can be extremely helpful in a city such as Lincoln, where crime rates are higher.
Farmers offers discounts on home renovations, safety devices, new builds, and other services.
Lincoln home insurance options
Although home insurance is not required by law, lenders almost always require it. It is strongly recommended for all homeowners. Your home and finances are protected in the event that you are affected by natural or other catastrophes.
Lincoln residents may find the following coverages useful.
- Dwelling replacement costs coverage: If your home is damaged by a covered event, such as a tornado or other natural disaster, dwelling replacement cost insurance allows you to restore your home to its original condition without depreciation.
- Personal property floater – The crime rate is higher in Lincoln than in 80% of US cities, so it’s worth looking into additional protection for your valuables.
- Flood insurance: Standard homeowners insurance does not cover flood damage. If you live in Nebraska, flood insurance is a good option. Flood insurance is available from many insurance companies, as well as through the federal National Flood Insurance Program.
Lincoln home insurance discounts
Homeowners should search for discounts as Lincoln’s home insurance rates are significantly higher than the rest of the nation. There are many discounts available for Lincoln residents, including:
- Multi-policy discounts: One of your best options for obtaining discounts is to use the same insurance company for your homeowners insurance, as well as your auto, life, and any other insurance policies.
- Security measures: Your insurance company may offer discounts if you install a smoke alarm, security system or other protection devices in your home.
- Your insurance provider may offer additional discounts for a new home.
- Loss-free: This could work in your favor if you have homeowners insurance before and have never been sued.
Questions frequently asked
Which is the best company for home insurance?
There are many factors that influence the best home insurer. Each homeowner’s situation and budget will play a role in deciding which insurance company they should choose.
What is the cost of Lincoln home insurance?
For $250,000 of dwelling coverage, the average homeowners insurance premium in Lincoln amounts to $2,060 per annum. Rates for homeowners insurance in Lincoln vary depending on many factors, including your zip code, credit score, and previous claims.
What amount of Lincoln home insurance do you need?
The amount of Lincoln home insurance you will need is determined by the cost of rebuilding your home after a loss. To determine the right amount of coverage for your home and assets, it is a good idea speak to an agent.