The Best and Cheapest Renters Insurance in Omaha, NE, for 2023: Rankings, Reviews and Rates

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2023.

The Cheapest and Best Renters Insurance in Omaha

What Are the Best Renters Insurance Companies in Omaha?

MoneyGeek ranked the top providers of renters insurance in Omaha and discovered that they are:

  • Top choice: MetLife.
  • Second place: State Farm.
  • USAA received the highest score in Omaha according to MoneyGeek’s system rating, making it the best option for families, veterans, and military members as it is exclusively available for them.

    Insurers also offer many unique coverages that are not provided by other providers, as found by MoneyGeek. MoneyGeek uses a composite rating system that considers J.D. Power ratings for customer satisfaction and AM Best ratings for financial stability, in order to arrive at the final scores.

    Geek Rapid Overview.

    USAA, which is currently serving military customers, offers discounts to them. A standout feature of USAA is its coverage for earthquake and flood damage, which most other providers do not include. USAA also consistently provides affordable options, making it one of the most unique coverage providers in the country.

    Geek Rapid Overview.

    MetLife excels in terms of affordability, offering policies that not only provide protection against identity theft but also offer coverage for valuable items such as musical instruments or sports equipment. In addition, unlike most other providers, MetLife also requires an additional payment for this coverage add-on.

    Additional Information Regarding MetLife.

    It is the best option for customers who do not qualify for USAA. MetLife is our runner-up pick, with high scores across the board mostly.

    The Average Cost of Renters Insurance in Omaha for 2023

    Renters insurance is the same as the average.

    The average annual cost of renters insurance in Omaha is about $122 per year or $10 per month, which is $37 less than the national average of $159.

    What Factors Impact Renters Insurance Costs in Omaha?

    While several elements can impact the price of your renters insurance, the subsequent factors hold the greatest sway in deciding the amount you’ll need to pay.

  • The price of a policy is established by the level of protection you opt to acquire, thus it is advisable to take into account the necessary coverage when searching for the most suitable renters insurance in Omaha, which includes the amount of coverage for personal belongings.
  • In Omaha, the cost of renters insurance can vary depending on the location within the city. Neighborhoods with higher crime rates often result in higher insurance premiums.
  • When your insurance company is required to handle a claim, the deductible pertains to the amount of money you are responsible to pay. To obtain lower premium rates, you have the option to select a greater deductible, which results in a higher out-of-pocket payment for a claim.
  • Considering the depreciation factor, policies that pay the actual cash value (ACV) reimburse you for the cost equivalent of buying a new replacement item of similar quality and type, while policies that pay the replacement cost value (RCV) can reimburse you based on the actual cost of the replacement. The choice between RCV and ACV depends on the type of insurance you have chosen, allowing you to get reimbursed based on the RCV or ACV.
  • You can add a few more dollars per year to increase coverage by thousands. However, in most cases, a standard policy would include $100,000 in liability coverage. Increasing your level of liability coverage can have an impact on the costs of your renters insurance.
  • Calculate How Much Renters Insurance You Need

    Does My Omaha Neighborhood Impact Cost of Renters Insurance?

    MoneyGeek discovered that within the city, the variation in costs is minimal, depending on your residential area. Unlike other forms of insurance, the impact of your renters insurance costs on the neighborhood location in Omaha is insignificant.

    The Companies With the Cheapest Renters Insurance in Omaha

    Since most insurance providers in Omaha offer the same basic set of core coverages, the cost of renters insurance is the most important factor for customers looking for cheap renters insurance in Omaha. MoneyGeek found that comparing rates from different providers can help you find the right policy at the most affordable options for the average consumer.

  • USAA: $77 annually (exclusive to active and former military personnel and their families).
  • MetLife: $95 annually.
  • USAA, as an insurance provider, offers policies that provide customers with even better value for their money. Not only does USAA reimburse for the cost of replacing items, but it also covers damages from floods and earthquakes.

    To evaluate the variations in prices, kindly refer to the table provided below, which presents diverse options for personal belongings coverage. It is important to note that the actual expenses may vary for each customer. The study’s policies encompass a deductible amounting to $500, liability coverage of $100,000, and personal property coverage of $20,000. The prices mentioned serve as the input data.

    Renters in Nebraska who live outside of Omaha can also compare prices for renters insurance throughout the entire state of Nebraska.

    Average Annual Rates for Personal Property Insurance

    Coverage for Personal Possessions:

    Keep scrolling for additional content.

    Frequently Asked Questions About Renters Insurance in Omaha

    When searching for renters insurance in Omaha, it is common for renters in Omaha to have questions. It is a good idea to choose a company that balances quality service with affordability.

    Understanding Renters Insurance in Omaha

    Renters insurance is not mandatory in Omaha, but it is a convenient and affordable method to safeguard your belongings from potential damages or theft. MoneyGeek highly advises obtaining renters insurance and in some cases, landlords may even require it.

    What Does Renters Insurance Cover in Omaha?

    In 2019, Omaha experienced a property crime rate of 2,974 per 100,000 residents, which is higher than the national average of 57%. This data, provided by the FBI, indicates that purchasing renters insurance can protect you from unexpected expenses resulting from theft and damage to your belongings at a low cost. As a renter, it allows you to safeguard yourself and your interests.

    Omaha residents who rent homes can also choose to opt for additional coverage that includes policies for insurance on damage caused by water and fire, including unexpected risks that may occur.

  • This coverage protects the contents of your home from risks such as weather events, electrical issues, plumbing issues, theft, vandalism, and fire.
  • If the rental building becomes uninhabitable due to a covered event, this takes care of your temporary living expenses.
  • Property rental your in accident an to due damage property has or injured becomes someone if expenses legal covers – insurance Liability
  • If someone gets injured in your rental property, this coverage helps with medical expenses, and the person who is at fault does not matter.
  • What Is Not Covered by Renters Insurance in Omaha?

    Purchasing additional coverage may not necessarily be a part of your renters insurance policy, as it depends on specific risks that might not be covered by the building owner’s insurance. Renters insurance in Omaha covers your belongings, but not the structure of the building.

    When it comes to insurance for renters, damage caused by water, such as a flood, is typically covered, but most policies do not provide coverage for damages arising from floods. Therefore, it is advisable to consider purchasing incremental insurance through the National Flood Insurance Program (NFIP) for protection against flood damage.

    Other items such as your roommate’s belongings, earthquake damage, vehicle damage, and damage to valuable items that exceed your policy limits (such as jewelry) are typically excluded. However, each policy is unique, so it is important to carefully read and understand the terms of your specific coverage to ensure accuracy.

    Renters Insurance in Omaha Analysis: Methodology

    Moneygeek analyzed hundreds of renters insurance quotes in Omaha to help you find affordable coverage. The rankings for the best renters insurance were derived from comprehensive analysis of quotes provided by Quadrant, using data from AM Best and J.D. Power.

    Information about Mark Fitzpatrick.

    Mark Fitzpatrick headshot

    Mark Fitzpatrick, the senior content director at MoneyGeek with over five years of experience, has been quoted in several publications, including Mashable and NBC News, on various insurance topics. He can create personalized content and conduct original research, analyzing the insurance market for every buyer.

    Mark is passionate about using his knowledge in insurance and economics to bring transparency and confidence in moving money and discussing financial topics, while helping others. He earned a bachelor’s degree from Boston College and a master’s degree in International Relations and Economics from Johns Hopkins University.