Nestled in the Midwest is Nebraska’s largest city of Omaha, with a metropolitan population of nearly one million residents. Believe it or not, major Fortune 1,000 corporations like TD Ameritrade and Werner Enterprises call Omaha home. Families of all shapes and sizes are drawn to the city for work and a friendly atmosphere. And Omaha residents love how easy it is to raise a family due to affordable housing and low living expenses. Plus, there’s plenty of attractions, like Omaha’s Henry Doorly Zoo and Aquarium. 

But living in Omaha comes with its ups and downs of hot and humid weather in the summer months, with frequent thunderstorms. And during the winter months, Omaha deals with around 30 inches of annual snowfall. Due to the varying Omaha weather events, homes in the city face damage. How can a family afford to repair damage due to weather-related risks? The answer is Omaha home insurance.

Start by comparing home insurance in Omaha, Nebraska, by using Insurify. You’ll get a free quote delivered to your inbox in just a few minutes so you can save money in the long run!

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How to Find Cheap Home Insurance in Omaha

According to Zillow, the real estate market in Omaha is predicting a four percent rise in prices for 2020. But the increase in housing prices in Omaha is not stopping first-time homebuyers from snatching up properties there. That’s because home prices are still relatively affordable to homebuyers. If you just bought a home, you know that the home-buying process is intense. And your investment likely means a lot to you. That means protecting your investment from risks like natural disasters is more critical than ever. But there are things you can do as a homeowner to protect your investment. 

Homeowners insurance provides financial liability for your property and personal belongings in Omaha. Homeowners insurance covers risks like weather events and theft. There are also coverage options that meet the insurance needs of everyone. It all depends on property type, location, and other factors. 

Keep reading for a full guide on Omaha home insurance

MORE ON NEBRASKA HOME INSURANCE
For general information on Nebraska home insurance, check out our guide to the best homeowners insurance in Nebraska.

Cheapest Home Insurance in Omaha by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

As of 2020, the average home insurance premium in the Omaha area costs $3,195 annually, and the median home value is $209,443. 

Costs of a home insurance policy in Omaha can be somewhat higher than the national average. But living expenses are around eight percent lower than the national average. The average cost of home insurance will vary depending on the property type and location of your home. But you should still save where you can on home insurance rates. It’s important to know that the average cost of homeowners insurance in Omaha will also depend on the best home insurance companies you are able to find. Pricing for State Farm, Allstate, and American Family will all differ. Use our comparison tool on the Insurify website. From there, you’ll get a better idea of what deductibles are like and what you can expect to pay in premiums. 

Below, find the average cost of homeowners insurance in Omaha, NE. 

Average Home Cost in Omaha Average Annual Insurance Premium in Omaha
$209,443 $3,195

Cheapest ZIP Codes in Omaha for Home Insurance

If you reside in West Omaha, what you pay for homeowners insurance will be different from your friend across town in Midtown. 

Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums. 

Rates in Omaha can be relatively high or low compared to the national average; it all depends on which area you live in.

Home Insurance Coverage Types in Omaha

There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:

HO-1

Basic

  • The simplest and least comprehensive type of homeowners insurance
  • Provides coverage for a handful of potential problems, including
    • Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption), 
    • explosions, 
    • theft, 
    • damage from vehicles, 
    • or civil commotion. 
HO-2

Broad Form

  • Broad form homeowners insurance policies include all basic form coverage, plus protection from:
    • falling objects, 
    • damage from the weight of ice, snow, or sleet, 
    • freezing of household systems including HVAC and pipes, 
    • sudden and accidental damage to pipes and other household systems from artificially generated electrical current, 
    • accidental discharge or overflow of water or steam,
    • sudden and accidental damage. 
  • HO-2 policies typically cover both dwelling protection and personal property.
  • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
HO-3

Special Form

  • The most common form of homeowners insurance is known as a “special form” policy.
  • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4

Tenant’s Form

  • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes. 
  • Tenant’s form policies typically cover all the same dangers as HO-2 policies. 
  • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house. 
  • Some HO-4 policies may also include loss of use coverage for the tenants.
HO-5

Comprehensive

  • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
  • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
  • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy). 
  • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
HO-6

Condo Form

  • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies. 
  • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building. 
  • These policies also include personal property and liability coverage and may include loss of use coverage.
HO-7

Mobile Home Form

  • If you own a mobile home or manufactured home, you likely have an HO-7 policy. 
  • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
  • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well. 
  • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
HO-8

Older Home

  • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them. 
  • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes. 
  • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

Weather Events and Omaha Home Insurance

Omaha summers are humid, warm, and wet, while winters are cold, dry, and windy. Sporadic Midwestern weather means temperatures can vary. Temperature ranges can be from 16 degrees Fahrenheit to above 87 degrees Fahrenheit. Because of this varying weather, storms and tornadoes are the most common weather events in Omaha year-round. While homeowners insurance covers wind and hailstorms, there are exclusions to keep in mind. Notably, flooding is excluded from the standard Omaha home insurance policy. You can always get flood insurance through the National Flood Insurance Program. This special flood insurance is provided through the Federal Emergency Management Agency. Ask your local insurance agent for guidance regarding flood insurance options. 

If you work in agriculture, the Nebraska Farm Bureau helps throughout the community to enrich the lives of farmers. The Farm Bureau also provides help during periods of flooding. The Farm Bureau is also an insurance agency that provides Omaha home insurance. More information on Farm Bureau advocacy programs is available on its website

How to Get Home Insurance Quotes from the Best Insurance Carriers

Did you know that bundling can help you save on Omaha home insurance? When you bundle home insurance with car insurance and life insurance, you can get a discount on your insurance rate. Insurance companies love when customers bundle multiple insurance products into one. And the reward for loyal customers is deals and discounts. You can speak to your insurance agent about adding on another policy by bundling and saving. 

The best way to get the best rates on Omaha home insurance is to look up and compare homeowners insurance quotes. You can compare leading insurance providers like Nationwide and Allstate. Use Insurify’s comparison tool! Fill in your information, and you’ll be able to pull up a free insurance quote in just a few minutes. Try it out now!

Buying a home is stressful enough—don’t let insuring it get in the way of enjoying your new property.

Frequently Asked Questions - Omaha Homeowners Insurance

What does bundling do with Omaha home insurance?

Bundling means you’re combining insurance products into one. For instance, you can combine home and auto insurance policies under one insurer. By purchasing multiple insurance products, you may get rewards from your insurer. You may get a significant discount on your insurance premium. 

How do I find the best homeowners insurance companies in Omaha?

You can find the best customer-rated home insurance companies in Omaha by searching J.D. Power’s website. J.D. Power awards insurance companies in excellence. It also provides information on the best homeowners insurance companies around! 

Do I need flood insurance in Omaha?

Omaha gets frequent flooding due to weather events. Depending on your location, you may need flood insurance in Omaha. Talk to your local agent to find out if you are in a flood zone and need coverage. 

Will my lender require me to have home insurance?

Yes, it’s highly likely your mortgage lender will require you to have home insurance in Omaha, Nebraska. Even if your lender didn’t require home insurance, how else would you pay for damage and repair on your home after a hazardous event? Home insurance is the best option. 

Conclusion: How to Find the Cheapest Home Insurance in Omaha

Omaha is a great place to live for families, with plenty of things to do and see and a low cost of living. However, home insurance can get a little tricky. The best way to save on coverage from the best insurance companies is to use Insurify to compare quotes from 10+ providers. 

Use Insurify to compare home insurance premiums for your property in Omaha

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Updated November 20, 2020

Stephanie Shaykin is a seasoned writer and marketing professional with experience in real estate. With a true passion for brand storytelling and SEO, she breaks down the most complex copy into a pleasant experience for the reader. In her spare time, she enjoys creating art and cooking in her home base of Chicago, Illinois.