How Much is Car Insurance for Used Cars in Lincoln?

The make and model of vehicle you are seeking coverage for is a large factor that determines if you can find low-cost auto insurance for used cars. Vehicles with economical engines, a plethora of safety features, or a positive history of liability claims will cost less to insure than fast, unsafe models. The table below estimates insurance rates for a selection of the most cost-effective automobiles to buy coverage for.

Cheapest Vehicles to Insure in Lincoln, NE
Vehicle Estimated Cost for Full Coverage
Honda CR-V LX 4WD $801
Ford Escape Limited 2WD $819
Ford Edge Limited 2WD $930
Toyota RAV4 2WD $949
Toyota Prius $975
Jeep Wrangler Rubicon 4WD 2-Dr $983
Honda Civic VP 4-Dr Sedan $991
Dodge Grand Caravan SE $983
Ford Focus SES 4-Dr Sedan $993
Honda Odyssey EX-L $1,001
Toyota Corolla LE $1,010
Kia Optima LX $1,015
Chevrolet Equinox LTZ 2WD $1,019
Nissan Altima 2.5 4-Dr Sedan $1,039
Chevrolet Malibu LS $1,046
Volkswagen Jetta 2.0T Station Wagon $1,054
Ford F-150 Lariat Crew Cab 2WD $1,060
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Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rate information does not factor in specific location information which can decrease or increase rates greatly.

By looking at the data, you can figure that makes and models like the Honda CR-V, Ford Escape, and Ford Edge are most likely going to be a few of the most affordable vehicles to insure for pre-owned vehicles.

Establishing which company offers the lowest-priced car insurance rates for used cars may require a bit more work in order to find the lowest price. Each insurance company has their own process for filing rates in each state, so let’s take a look at the car insurance companies with the overall cheapest rates in Nebraska.

Keep in mind that Nebraska car insurance rates are calculated based on many things that control the policy premium. Improving your credit rating, getting married, or having an accident may prompt premium changes resulting in some rates now being affordable when they were higher priced.

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Rankings for the cheapest Nebraska auto insurance companies
Rank Company Cost Per Year
1 Safeco $780
2 The Hartford $839
3 Auto-Owners $896
4 Allied $939
5 Farmers Mutual of Nebraska $979
6 Farm Bureau Mutual $1,010
7 Nationwide $1,037
8 American National $1,065
9 State Farm $1,075
10 General Casualty $1,114
11 USAA $1,116
12 California Casualty $1,257
13 Iowa Mutual $1,295
14 American Family $1,296
15 GEICO $1,308
16 EMC $1,314
17 MetLife $1,332
18 Progressive $1,445
19 Farmers $1,586
20 North Star $1,659
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Safeco quotes some of the most affordable car insurance rates in Lincoln at around $780 annually. This is $536 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska would also be considered some of the lowest-priced Lincoln, NE car insurance companies.

In the rate table above, if you currently buy coverage from Auto-Owners and switched to Safeco, you may realize savings of about $116. Insureds with Allied could save as much as $159 a year, and Farmers Mutual of Nebraska insureds might see rate reductions of $199 a year.

To discover how much you can save, click here to start a quote or feel free to get quotes from the companies below.

It’s important to note that these prices are averaged across all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location for used cars. So the car insurance company that fits your needs best may not even be in the top 24 companies in the list above. That helps illustrate why you need to get car insurance quotes using your own personal information and vehicle type.

Tickets and at-fault accidents raise rates

The easiest method to find affordable car insurance premiums in Lincoln for pre-owned vehicles is to be a good driver and maintain a clean driving record. The information below highlights how traffic violations and accident claims can increase auto insurance rates for different ages of insureds. The data assumes a single female driver, comp and collision included, $500 deductibles, and no policy discounts are applied.

The data in the chart shows the average cost of auto insurance in Lincoln per year with no accidents or violations is $1,798. Receive one speeding ticket and the average cost hikes up to $2,039, an increase of $241 each year. Then add two accidents along with the one speeding ticket and the 12-month cost of car insurance for used cars increases to an average of $4,220. That’s an increase of $2,422, or $202 per month, just for not driving safely!

Full coverage rates compared to liability only

Finding the cheapest car insurance is the goal of most people, and an effective way to find cheap insurance for used cars is to only pay for liability coverage. The chart below shows the difference between insurance costs with full coverage and liability only. The prices are based on no claims or violations, $500 deductibles, single status, and no discounts are taken into consideration.

If the expense is averaged for all age categories, comprehensive and collision coverage on your policy costs an additional $1,417 per year more than just buying liability only. At some point, every insured wonders if physical damage coverage is worth the money. There isn’t a written rule for phasing out physical damage coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s book value is $4,500 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $3,500 after paying your deductible. If you are paying more than $350 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

Don’t stick with an overpriced policy

Nebraska car insurance rates are determined by lots of factors which can significantly increase or decrease your annual premium. Simply getting older, getting married, or getting a couple of tickets can trigger price changes resulting in some rates now being cheaper than competitors.

Not only may your risk profile change, but car insurance companies amend pricing every year or even multiple times each year to reflect underwriting profits or losses. Unexpectedly high claims may result in additional premium costs, while lower claims can cause cheaper Lincoln car insurance rates.

To illustrate this example, the bar chart below shows a variety of companies that have the cheapest car insurance in Lincoln, NE for a 45-year-old male driver with no accidents, a clean driving record, and a decent credit rating. When comparing rates based on his current risk profile, Safeco offers the cheapest car insurance rates in Lincoln at $787 annually. This is $529 less than the average rate paid by Nebraska drivers of $1,316. The Hartford, Allied, Auto-Owners, and Farmers Mutual of Nebraska are the remaining top five cheapest Lincoln, NE auto insurance companies.

The next chart shows rates after we give the driver in the first chart a couple of claims, a little lower credit rating, and an imperfect driving record. Since each insurance company has their own unique process for filing rates in each state, comparing insurance quotes may now result in a substantially altered list of affordable companies as shown below.

Nationwide now has the best auto insurance rate in Lincoln with State Farm, American National, General Casualty, and USAA completing the list. This example shows why it is critical to take the time to shop around to get the most economical auto insurance rates for used cars.

Insurance rates are determined by many risk factors and can increase or decrease at any time, so the most economical option the last time you checked may now be quite expensive.