The type of vehicle requiring coverage is one of the main factors when comparing quotes for the most economical auto insurance for real estate agents. Vehicles with high performance engines, poor safety ratings, or a track record of large liability claims will cost more to insure than more economical and safe models. The next table outlines insurance costs for a number of the most cost-effective automobiles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra SE Touring Station Wagon | $856 |
| Ford Escape XLT 2WD | $860 |
| Honda CR-V LX 4WD | $888 |
| Chevrolet Impala LS | $916 |
| Ford Edge SEL 2WD | $926 |
| Toyota RAV4 Sport 4WD | $934 |
| Ford Explorer Limited AWD | $950 |
| Honda Accord EX-L 4-Dr Sedan | $962 |
| Ford F-150 FX2 Super Cab 2WD | $964 |
| Honda Odyssey LX | $978 |
| Toyota Prius | $986 |
| Jeep Grand Cherokee Limited 4WD | $1,000 |
| GMC Sierra SLT Extended Cab 4WD | $1,010 |
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Table data does not factor in specific garaging location which can increase or decrease price quotes greatly.
Looking at the numbers, you can presume that vehicles like the Hyundai Elantra, Ford Escape, Honda CR-V, and Chevrolet Impala should be some of the cheapest vehicles to insure for realtors.
For realtors, one of the big considerations that help determine insurance cost is where you live. Areas with more people or more claims will most likely have higher rates, whereas areas with less people or fewer weather incidents tend to receive cheaper rates.
The following table sorts the highest-priced areas in Nebraska for real estate agents to buy an auto insurance policy in. Lincoln shows up at #24 with the annual price of $1,073 on average, which is about $89 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Scottsbluff | $1,374 |
| 2 | Lexington | $1,303 |
| 3 | Gering | $1,303 |
| 4 | Alliance | $1,300 |
| 5 | McCook | $1,292 |
| 6 | North Platte | $1,288 |
| 7 | Beatrice | $1,272 |
| 8 | South Sioux City | $1,251 |
| 9 | Crete | $1,246 |
| 10 | Omaha | $1,233 |
| 11 | Kearney | $1,200 |
| 12 | York | $1,191 |
| 13 | Nebraska City | $1,188 |
| 14 | Blair | $1,188 |
| 15 | Hastings | $1,182 |
| 16 | Seward | $1,179 |
| 17 | Bellevue | $1,179 |
| 18 | Grand Island | $1,158 |
| 19 | Columbus | $1,150 |
| 20 | Norfolk | $1,147 |
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Price information shown is approximated as the specific geographic location can change price quotes substantially.
Establishing which insurers offer the best insurance rates for real estate agents takes a little more sweat in order to find a policy that fits your budget.
Every car insurance company has their own unique process for filing rates in each state, so we’ll take a look at the insurance companies with the most affordable rates in Lincoln. It’s important that readers know that Lincoln, NE insurance rates are calculated based on many things that may substantially change the price of coverage. Getting older, buying a home instead of renting, or getting a DUI may generate price changes resulting in some rates now being much cheaper than others.
Best Insurance Companies for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Safeco | $812 |
| 2 | The Hartford | $847 |
| 3 | Auto-Owners | $896 |
| 4 | Allied | $939 |
| 5 | Farm Bureau Mutual | $980 |
| 6 | Nationwide | $997 |
| 7 | Farmers Mutual of Nebraska | $1,009 |
| 8 | State Farm | $1,043 |
| 9 | American National | $1,065 |
| 10 | General Casualty | $1,081 |
| 11 | USAA | $1,162 |
| 12 | California Casualty | $1,257 |
| 13 | MetLife | $1,280 |
| 14 | American Family | $1,284 |
| 15 | GEICO | $1,322 |
| 16 | Iowa Mutual | $1,334 |
| 17 | EMC | $1,354 |
| 18 | Progressive | $1,445 |
| 19 | Farmers | $1,586 |
| 20 | North Star | $1,693 |
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Safeco quotes some of the best car insurance rates in Lincoln at around $812 each year. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual also are some of the most economical Lincoln, NE insurance companies.
As illustrated above, if you are a customer of Auto-Owners and switched to Safeco, you may see yearly savings of in the vicinity of $84. Customers with Allied could save as much as $127 a year, and Farm Bureau Mutual policyholders might reduce rates by $168 a year.
To find out how your current rates compare, click here to start your custom quote or visit several of the following companies.
Bear in mind that those premium estimates are averages across all drivers and vehicles in Nebraska and and are not calculated with a specific zip code for real estate agents. So the insurer that can offer you the best rate may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
The diagram below illustrates how your choice of deductibles can increase or decrease yearly insurance costs when researching cheap insurance for real estate agents. The premium estimates are based on a single female driver, comp and collision included, and no discounts are applied.
The chart above illustrates that a 50-year-old driver could reduce rates by $322 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $484 by using a $1,000 deductible. Younger drivers, like the Age 20 chart data, could save up to $824 or even more by selecting a higher deductible.
When choosing a higher deductible, it will be required to have plenty of money set aside to cover the extra out-of-pocket expense associated with higher deductibles.
Difference between full coverage and liability only rates
Saving on insurance is the goal of most vehicle owners, and a good way to save on the cost of insurance for real estate agents is to not buy full coverage. The diagram below visualizes the comparison of auto insurance rates with and without full coverage. The rates are based on no claims or driving violations, $1,000 deductibles, drivers are single, and no discounts are factored in.
Averaged for all age groups, physical damage coverage costs $1,366 per year over and above liability only. That touches on the question if paying for full coverage is a waste of money. There is no set guideline that is best for determining when to drop full coverage, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
There are some conditions where dropping full coverage is not a good plan. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not drop full coverage.
Accidents and violations increase rates
The common sense way to get the cheapest insurance prices in Lincoln for realtors is to drive safe and not receive tickets or have accidents. The illustration below demonstrates how citations and accidents can influence insurance costs for different age categories. The information is based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
The data in the chart shows the average cost of car insurance in Lincoln per year with no accidents and a clean driving record is $1,350. Receive two speeding tickets and the average cost surges to $1,803, an increase of $453 each year. Then add one accident along with the two speeding tickets and the 12-month cost of insurance for real estate agents increases to an average of $2,257. That’s an increase of $907, or $76 per month, just for not driving carefully!