Insurance carriers calculate the cost of a home insurance policy by asking "how likely is it that something bad will happen?" The more likely it is that something bad will happen, the more expensive the home insurance policy will be, and vice versa. We call these potential disasters "risk." Let’s take a look at how risky Nebraska is compared to the rest of the US.
Even though the crime rate in Nebraska is lower than the national average, homeowners still have to be aware of the risk.
- Average number of burglaries per 1,000 homes in NE: 3.38
- Average number of burglaries per 1,000 homes in the U.S.: 4.69
Nebraska is located within the infamous Tornado Alley, and this poses a risk to area homeowners. In addition to tornados, residents of this state may also experience damage to their homes caused by severe storms and wildfires.
- Number of federally declared disasters since 1953: 60
- Most common cause of disasters in the state: Severe Storms
- Average number of tornados in the state per year: 54.6
- Amount paid in home insurance claims in 2016: $698,557,000
- Average home value in NE: $148,100
- Average home value in the US: $188,900