Nebraska Car Insurance
Keeping a few simple things in mind when shopping for Nebraska car insurance can help you get the coverage you need. These simple tips will assist you as you shop for Nebraska auto insurance.
Find An Insurance Company Licensed In Nebraska
First off, you'll need to find a company that is licensed to sell in Nebraska and understand the requirements. Nebraska law requires drivers to have both bodily injury and property damage coverage. The coverage is referred to as 25/50/25. This means that for bodily injury you must have at least $25,000 per person and $50,000 per accident. For property damage, you must have a minimum for $25,000 per accident. Any company that is licensed to sell in Nebraska will understand these requirements.
To find a list of insurance companies that are licensed to sell Nebraska auto insurance contact, through phone or web site, the Nebraska Department of Insurance (NDI). If a company is attempting to sell you insurance and they are not licensed in Nebraska, you can report them to the NDI. The consequence for getting insured through a non-licensed company is lack of protection. The Guaranty Fund will not protect you if the company you are with fails.
Some of the most popular companies that are licensed to sell Nebraska auto insurance are:
- Allstate
- American Family
- American Standard Insurance Company
- Farm Bureau Mutual Insurance Company
- Farmers Mutual Insurance Company
- Motor Club Insurance Association
- Nationwide Insurance
- Progressive Direct
- Progressive Northern
- Shelter Mutual Insurance
- State Farm
- State Farm Mutual
- United Services Automobile Association
Guaranty Funds And Nebraska Law
The Guaranty Fund is part of Nebraska law. Licensed companies in the State of Nebraska are a part of this fund. This fund will pay any claims that need to be made when an insurance company fails. This is the ultimate safety.
If you do not get your Nebraska auto insurance through a company that is licensed in the state you will not have this very important protection.
Financially Stable Companies
Even when you are looking at companies that are licensed in Nebraska you still need to understand how they are rated. These ratings are given by third party rating agencies that are made to be non-bias. They give grades based on certain factors. Different rating agencies use different criteria so make sure you understand the criteria when looking at the grade. You can look back over a couple of years to see if a company’s rating has gone up or down.
Finding the rating of companies can be done on-line or by looking at your local public library. Some of the most popular rating companies are:
- Demotech, Inc.
- Weiss Research, Inc.
- Fitch Investors Service
- Standard and Poor’s
- Moody’s Investors Service
Understand The Meaning Of A Deductible
A deductible is the amount that you are required and obligated to pay under your insurance policy. Basically it is the amount you will have to pay out of pocket before the insurance company will pay their part of the coverage. If you do not pay your deductible, they do not have to pay their part.
The amount of the deductible affects the rate you get for your insurance and the monthly premium you pay. A higher deductible means a lower monthly rate. When choosing your deductible, decide what you can afford to pay, through money you have saved or based on your income, if the need arises. Basically, if you are in an accident, you will want to have the amount of your deductible ready to go as soon as possible. This allows the insurance company to pay their part.
When looking for Nebraska auto insurance, you have to decide what kind of deductible you want to have. Discuss with the companies you are getting quotes from the difference in rates based on the deductible. If may be more affordable for you in the long run to go with a higher deductible or it may not.
Pass On Unnecessary Extras
Some companies will add on monthly fees for such things as road side assistance and car rental coverage. The cost of getting a vehicle towed, should the need arise, may be less than the monthly fee for this coverage. Most police departments will help you if you lock your keys inside your car and with cell phones, you can call for assistance if needed.
Car rental coverage is designed to pay for a rental car should you car be in an accident and need to fixed. While you car is being worked on, you will be covered with a rental car. This added cost may not equal what a one time rental feel would be.
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