The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, specifically when you are searching for the cheapest auto insurance for high risk drivers. Because it’s so expensive, let’s start off by going over some of the things that help determine car insurance prices, and find out if you can lower the price of the next policy you buy.
One of the many criteria that are looked at to determine the annual cost of car insurance is where you keep your car in Lincoln. Cities with more crime and/or more people are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.
The illustration below lists the most costly cities in Nebraska for high risk drivers in which to purchase auto insurance. Lincoln ranks #24 with the yearly price of $1,106 on average, which is about $92 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Scottsbluff | $1,360 |
| 2 | Gering | $1,357 |
| 3 | Alliance | $1,354 |
| 4 | McCook | $1,318 |
| 5 | Lexington | $1,277 |
| 6 | North Platte | $1,262 |
| 7 | South Sioux City | $1,251 |
| 8 | Blair | $1,236 |
| 9 | Beatrice | $1,235 |
| 10 | Omaha | $1,220 |
| 11 | Nebraska City | $1,212 |
| 12 | Crete | $1,210 |
| 13 | Kearney | $1,200 |
| 14 | Seward | $1,191 |
| 15 | Hastings | $1,182 |
| 16 | Fremont | $1,177 |
| 17 | York | $1,156 |
| 18 | Bellevue | $1,155 |
| 19 | La Vista | $1,150 |
| 20 | Norfolk | $1,147 |
| Find Cheaper Rates Go | ||
Price information shown is comparative as specific Lincoln garaging address can decrease or increase auto insurance rates noticeably.
Trying to find cost effective insurance is tough enough, and determining which company quotes the cheapest car insurance rates for high risk drivers will require even more shopping around. Each insurer has a unique formula to determine premium rates, so let’s begin by taking a look at the most competitive car insurance companies in Nebraska.
Best Car Insurance Prices for Risky Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $788 |
| 2 | The Hartford | $839 |
| 3 | Auto-Owners | $905 |
| 4 | Allied | $949 |
| 5 | Farm Bureau Mutual | $990 |
| 6 | Nationwide | $1,007 |
| 7 | Farmers Mutual of Nebraska | $1,009 |
| 8 | State Farm | $1,043 |
| 9 | American National | $1,065 |
| 10 | General Casualty | $1,092 |
| 11 | USAA | $1,128 |
| 12 | American Family | $1,284 |
| 13 | California Casualty | $1,296 |
| 14 | EMC | $1,300 |
| 15 | Iowa Mutual | $1,308 |
| 16 | MetLife | $1,332 |
| 17 | GEICO | $1,348 |
| 18 | Progressive | $1,402 |
| 19 | Farmers | $1,586 |
| 20 | North Star | $1,659 |
| Get Personalized Rates Go | ||
Safeco has some of the cheapest car insurance rates in Lincoln at around $788 each year. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual also are some of the most economical Lincoln, NE car insurance companies.
In the above example, if you currently have a policy with Auto-Owners and switched to Safeco, you could realize an annual premium reduction of upwards of $117. Policyholders with Allied might save as much as $161 a year, and Farm Bureau Mutual policyholders might reduce prices by as much as $202 a year.
Bear in mind that those premium estimates are averaged across all types of insureds and vehicles and do not take into consideration a vehicle location for high risk drivers. So the company that is most affordable for your situation may not even be in the top 24 companies shown above. That’s why you need to get quotes using your own driver information and specific vehicle type.
Insuring your vehicle with the right car insurance company can be rather challenging considering how many companies there are to choose from in Nebraska. The information in the lists below can help you select which providers you want to consider when insurance shopping for high risk drivers. These ratings are for companies that write coverage in many states, so companies without a large exposure will not be included in these rankings.
Top 10 Major Car Insurance Companies in Lincoln Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- AAA Insurance
- Safeco Insurance
- GEICO
- Esurance
- The General
Top 10 Major Car Insurance Companies in Lincoln Ranked by Customer Satisfaction
- USAA – 92%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- The Hartford – 87%
- Progressive – 87%
- AAA Insurance – 87%
- Farmers Insurance – 87%
- Liberty Mutual – 87%
The diagram below demonstrates how deductible levels can affect insurance prices when searching for cheap insurance for high risk drivers. The prices are based on a married male driver, full coverage, and no discounts are applied to the premium.
The data above shows that a 50-year-old driver could pocket $210 a year by changing from a $100 deductible to a $500 deductible, or save $316 by choosing a $1,000 deductible. Young drivers, such as the 20-year-old example, could potentially save as much as $694 every year by using higher deductibles when buying full coverage.
If you do make the decision to raise your deductibles, it is necessary to have enough savings set aside to be able to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Rate difference between full and liability-only coverage
Reducing the cost of car insurance is important to the majority of vehicle owners, and a good way to find cheaper insurance for high risk drivers is to only buy liability insurance. The chart below shows the difference between premium costs with full physical damage coverage and with liability coverage only. The price estimates are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are factored in.
If the expense is averaged for all age categories, full coverage costs an extra $1,579 per year over liability only. That may make you wonder when is the right time to remove full coverage. There is no written rule to stop buying full coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
There are some conditions where buying only liability insurance is not advised. If you haven’t satisfied your loan, you have to carry full coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Are you paying too much for car insurance in Lincoln?
Nebraska car insurance rates are influenced by many factors that can increase the policy premium. Simply having a birthday, buying a home, or getting a ticket for running a stop sign can produce rate changes that can make some companies cheaper than others. Also, auto insurance companies amend pricing as often as every quarter in order to protect their financial rating. Heavy losses may result in high rates, while profitable underwriting can cause cheaper Lincoln car insurance rates.
The bar chart below shows the company with the cheapest car insurance in Lincoln, NE for a 30-year-old female driver with a good driving record, no prior claims, and a good credit history. When quoting prices based on her current rating profile, Safeco might offer the best car insurance rates in Lincoln at $788 a year. This is $528 less than the average rate paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska are the rest of the cheapest Lincoln, NE auto insurance companies.
Now we will pretend the driver from the first rate comparison a chargeable accident, poor credit, and a few blemishes on her driving record. Due to the fact that every auto insurer has their own process for setting rates, comparing quotes will most likely result in a completely different list of the cheapest Lincoln car insurance companies as shown below.
Farm Bureau Mutual now has the best insurance rate in Lincoln, NE with State Farm, American National, General Casualty, and USAA now rounding out the top five. This example proves why Lincoln drivers need to do a thorough rate comparison to find cheap auto insurance rates for high risk drivers. Auto insurance prices are calculated by many risk factors and change frequently, so the most economical company the last time you compared rates may now be priced much higher than other options.