should offer coverage for flooding, tornadoes, and other covered perils. Getting homeowners insurance is easy; compare quotes from multiple companies to help you find the best deals.

A home is likely one of the biggest investments you make in your life, so it’s well worth protecting it by purchasing home insurance. Protect your home just as it protects you and your belongings so you can have years of happy memories in it.

Before you commit to a policy, though, be sure you understand everything covered.

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is here to help you make sense of the confusing terms in

home insurance

. We’ll explain what home insurance is, what it covers, how to get it, and how to save money.

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What is homeowners insurance?

Homeowners insurance offers financial and legal protection in the event of unexpected and surprising emergencies. A homeowners insurance policy typically offers coverage for the loss of your home, property damage, and personal liability.

The average cost of homeowners insurance in the United States is $1,387 per year or $115 per month.

Basic components of homeowners insurance

Each homeowners insurance policy in Nebraska is customized to you and your home, but a typical homeowners insurance policy consists of the following:

Coverage A (Structure): Pays to repair or replace the house itself.

Coverage B (Additional structures): Pays to repair or replace other structures on the property, such as fences, pools, or sheds.

Coverage C

(Personal property): Provides financial protection against the loss or destruction of certain items of personal property (think furniture, electronics, jewelry, and more).

Coverage D (Additional expenses): Also called loss of use. Pays for temporary living expenses (e.g. a hotel, rent, etc.) incurred as a result of losing the use of all or part of your home.

Coverage E

(Personal liability): Covers the cost of litigation when someone is injured on your property (or by your pet or family member).

When you choose a homeowners policy, you can purchase a policy that offers either the actual cash value (ACV) of your property at the time of loss or one that covers the replacement cost—that is, the amount it would cost to replace the property, regardless of actual value. Most companies typically require homeowners to purchase at least 80% of the replacement cost.

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Home insurance terms you need to know

Named perils

There is no standard comprehensive coverage for home insurance; they are customized to each home and homeowner. Unless you have a special policy, your homeowners insurance will only cover named perils, which are the specific circumstances outlined in the policy. These generally include:

Fire

Lightning

Wind

Hail

Hurricanes

Damage caused by vehicles

Theft

Vandalism

Riots

Falling objects

Explosions

Read your policy carefully to make sure that you understand what’s covered and what isn’t.

Is homeowners insurance required in Nebraska?

While Nebraska does not legally require homeowners insurance, most lenders will require homeowners to purchase a policy. Even if it’s not required by your lender, it’s always a good idea to have the extra protection for your home, belongings, and family.

How to get homeowners insurance

Getting homeowners insurance in Nebraska is easy! Comparing rates with multiple companies is the best way to find the lowest rates out there.

Jerry

is the easiest way to compare quotes by doing the hard work for you.

Another great option: start with your car insurance company. They can offer discounts for bundling your home and auto policies and receive a discount between 5% to 15% or higher off of your premiums, so it’s worth checking to see what your options are.

Recommended home insurance coverage in Nebraska

Nebraska homeowners should look for coverages for flood and tornado damage, in addition to the normally covered perils in a standard home policy. A typical homeowners policy will cover damages caused by tornadoes, but flood insurance is an additional policy available for purchase.

Here are three strategies that can help you protect your home against possible flood damage:

Water backup coverage can pay for water removal and repairs following a burst or backed-up pipe.

Flood insurance

protects your home from flooding from a source outside of your home. You can get it through FEMA’s

National Flood Insurance Program (FLIP)

or a referral.

An HO-5 or open perils policy covers any peril unless it’s specifically listed as an exclusion in your policy.

MORE:

How to choose the right kind of home insurance for you

Why is homeowners insurance in Nebraska so expensive?

Homeowners insurance in Nebraska is about 44% above the national average of $1,387 per year, but it’s well worth the extra protection. Home insurance is determined by many factors, including marital status and credit score, but there are a couple of risks that increase the cost to Nebraska homeowners.

Tornadoes

Nebraska is located in tornado alley, meaning it’s prone to the high-damage home insurance claims that hike up insurance premiums to help offset the higher costs to insurance companies.

Homeowners insurance discounts in Nebraska

If Nebraska’s higher costs deter you from purchasing a home insurance policy, many companies typically offer several discounts for various customers and actions. Check out the table below for examples of common homeowners insurance discounts:

Discount	How to get it
Bundling	Bundling home and auto insurance could earn you a steep discount on both policies.
First-time homeowner	Most companies will offer you a discounted policy if it’s your first time purchasing a home.
Claims-free	If you maintain a certain period (typically a few years) without any claims on your policy, you may be eligible for a discounted rate.
Storm proofing	Installing various hurricane safety measures, such as an upgraded roof or storm shutters, could earn you a discount on your homeowners policy.
Security system	If you’ve got a security system to prevent theft, your insurance company might discount your homeowners insurance rate.
Upgraded fire alarm	Set up your fire alarm to contact the fire department directly—your insurance company may give you a discount for a shorter fire response time.

How to save on home and auto insurance

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FAQs

Is tornado insurance required in Nebraska?

No! Most policies offer coverage for damages caused by high winds and thrown objects. That said, if a tornado brings rain and causes flash flooding in your area, you will need a separate policy to cover flood damages.

What is the average cost of homeowners insurance in Nebraska?

Companies determine premiums based on multiple personal demographics, but on average, Nebraska homeowners pay between $1,400 and $3,500 a year.

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