Soaring costs for home insurance are crippling Nebraska homeowners, and with new data from Bankrate, Nebraska is listed as the worst state when it comes to home insurance rates. Bankrate also said the nationwide average homeowner’s insurance for a $300,000 dwelling coverage is $2,300.Guess where Nebraska is at.It’s double and then add some. Bankrate said Nebraskans pay a yearly average of $5,544. If that’s not already hurting Nebraskan’s wallets, the Wall Street Journal reported at least a quarter of Omaha borrowers spend more than half of their monthly mortgage on taxes and insurance. House Rep. Mike Flood said he is listening to his constituents and focusing on finding a solution on the local and federal levels. He’s working with state senators already, but he said he’s also working in Washington to help alleviate some of the financial pressure. “I’ve been really focused on how we could leverage manufactured housing to allow more people the opportunity to own a home and make more room for folks that maybe want to get out of their house, and you know downsize into something that’s just one level,” Flood said.He said the jump in premiums went up 60% from 2023 to Dec. 2024. And that it didn’t take into account the major storms from over the summer that impacted the metro and Lincoln. Click here for the latest headlines from KETV NewsWatch 7
Soaring costs for home insurance are crippling Nebraska homeowners, and with new data from Bankrate, Nebraska is listed as the worst state when it comes to home insurance rates.
Bankrate also said the nationwide average homeowner’s insurance for a $300,000 dwelling coverage is $2,300.
Guess where Nebraska is at.
It’s double and then add some.
Bankrate said Nebraskans pay a yearly average of $5,544.
If that’s not already hurting Nebraskan’s wallets, the Wall Street Journal reported at least a quarter of Omaha borrowers spend more than half of their monthly mortgage on taxes and insurance.
House Rep. Mike Flood said he is listening to his constituents and focusing on finding a solution on the local and federal levels.
He’s working with state senators already, but he said he’s also working in Washington to help alleviate some of the financial pressure.
“I’ve been really focused on how we could leverage manufactured housing to allow more people the opportunity to own a home and make more room for folks that maybe want to get out of their house, and you know downsize into something that’s just one level,” Flood said.
He said the jump in premiums went up 60% from 2023 to Dec. 2024.
And that it didn’t take into account the major storms from over the summer that impacted the metro and Lincoln.
Click here for the latest headlines from KETV NewsWatch 7
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.