Rising Insurance Costs in Nebraska
Homeowners in Nebraska are facing another year of increasing insurance rates, with a projected 10% rise by the end of 2025, according to a recent study. This follows several years of steady increases, with 2024 seeing the highest jump in the United States at 22.7%, as reported by S&P Global.
The Cornhusker State’s propensity for severe weather is the primary driver behind these numbers. Nebraska has already experienced a significant number of severe thunderstorms this year, and insurers are adjusting their rates accordingly. Ryan Sanee, co-owner and agent at Omega Insurance Group in Lincoln, noted that “those rates have sometimes doubled or even tripled in the last several years” due to the “severity and frequency of storms.”
Channel 8 conducted a door-to-door survey in Lincoln, finding that while homeowners are concerned, many have resigned themselves to the increases. One homeowner mentioned that rising insurance costs are just one of many expenses on their radar. Sanee predicted that insurance rates will continue to climb as long as severe weather events persist in Nebraska.
To mitigate these rising costs, Omega Insurance suggests considering higher-deductible plans. Sanee emphasized that “until we see a reduction in severity of storms, we’re going to see these rates continue to climb, unfortunately.”
The trend is particularly concerning given Nebraska’s history with severe weather. With no signs of the storms abating, homeowners are bracing for further rate hikes. As the situation stands, residents are advised to review their insurance options carefully to manage their rising costs.
