Fact Check: "Nebraska's homeowners now pay over $5,900 for insurance—twice the national average."
What We Know
The claim that Nebraska homeowners pay over $5,900 for insurance is misleading. According to a report from AgileRates, the average annual premium for homeowners insurance in Nebraska is approximately $2,849 for a home valued at $250,000. This figure is significantly higher than the national average of $1,383, but it does not approach the $5,900 mark.
Further data from MoneyGeek indicates that the average cost of homeowners insurance in Nebraska is projected to be $4,906 in 2024, which is $2,483 more than the national average of $2,423. While this figure is higher than the national average, it still does not reach or exceed $5,900.
Additionally, Insure.com reports that homeowners insurance costs in Nebraska can vary, with some policies costing around $4,785 annually for certain coverage levels. However, even at the higher end of the spectrum, the figures do not support the claim that the average cost exceeds $5,900.
Analysis
The claim appears to exaggerate the average cost of homeowners insurance in Nebraska. While it is true that Nebraska has some of the highest homeowners insurance rates in the country, the average premiums reported are significantly lower than the $5,900 figure.
The sources cited provide reliable data on homeowners insurance costs. AgileRates and MoneyGeek are both reputable platforms that analyze insurance costs based on comprehensive data. Their figures indicate that while Nebraska's insurance rates are indeed high, they do not support the assertion that homeowners are paying double the national average or that they are exceeding $5,900.
Moreover, the variation in insurance costs can depend on several factors, including the value of the home and the coverage options selected. For example, a policy with higher dwelling coverage will naturally cost more, but the average premiums reported do not reflect a statewide average of $5,900.
Conclusion
Verdict: False
The claim that Nebraska homeowners now pay over $5,900 for insurance—twice the national average—is inaccurate. The average annual premium for homeowners insurance in Nebraska is approximately $2,849, with projections for 2024 indicating an average of $4,906. Both figures are significantly lower than the claim made and do not support the assertion that Nebraska homeowners are paying double the national average.
