Butte, NE Home Insurance Quotes!
In the great city of Butte, there are a total of 1,110 people living in a variety of different styles of properties from single-family homes, duplexes, condos and apartments. While there are roughly 225 housing units in the city of Butte, many of the ones that are currently occupied are in need of lower home insurance rates. In the majority of these Butte neighborhoods, the average family size is around 3 residents per house.
In Butte, the average household income is about $58,929. While this is a fairly high number, it is slightly below the national median. Luckily, the cost to purchase a home in Butte is affordable, the average real estate market price is $55,400, although home prices in this area continue to rise. An increase in home prices results in more risk for the insure to cover. Plus, the cost of living increases with the property taxes due to the cost of home prices going up. Saving money on your home insurance premium can help with your monthly budget and even lower your monthly mortgage payment. Let us help you shop and compare rates in Butte, NE today!
Lower Home Insurance Rates in Butte Helps with Savings
In addition to affordable housing, Butte homeowners insurance also has some great rates to help you save more money. Our average home insurance rates for Butte is around $1187 per year, for smaller homes with less replacement value coverage and discounts, you can get rates for as low as $937. For larger homes over 1,800 sq. ft in Butte, you may see higher rates in the $1487 range due to increased dwelling coverage.
Butte Home Insurance By Policy Type
When it comes to Butte homeowners insurance policies, there are a few different policy types and each one is written for a certain type of structure. Having the correct policy type is essential to having the proper coverage on your home for added protection when you need it most.
Below we have featured the most common insurance types for homeowners living in or nearby Butte:
| Type | Description |
|---|---|
| HO-3 | The most common of homeowners coverage is the HO-3. The majority of homeowners carry this type of policy and it covers damage that is caused by all perils unless they are excluded in the body of the policy. Damage that is caused by floods or earthquakes is always excluded on an HO-3 policy but there can be other exclusions as well. |
| HO-6 | Condos are becoming a popular housing option in Butte and if you have one, this is the policy type you need. In addition to condos, it also protects co-ops. This insurance offers coverage for your personal belongings as well as the components of the building that you actually own. |
| HO-8 | Butte is lucky to have a fair number of historical homes and if you own one, you may need an HO-8 policy. These policy types are specific to older homes where the replacement cost of the house may actually exceed the cash value of the home. These policies are affordable because the payout levels are less than the actual replacement cost of the house. In most cases, the need for an HO-8 policy arises when the house is more than 40 years old and doesn’t qualify for a HO-3 policy. These policies only cover 11 perils. |
| HO-4 | This policy type was designed for people that rent an apartment. It is often referred to as renters insurance. An HO-4 policy will pay out for damage to your personal property in your apartment and it also offers liability protection in the event that someone is injured in your apartment. |
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Average Rates Nearby Butte
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Home Insurance Rates by Zipcode in Butte, NE
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Butte.
Butte, NE Home Insurance Average Premiums
$937 /yr.
For the city of Butte, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $937 /yr. |
| Average Coverage: | $1187 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1487 /yr. |
What is the average home insurance cost for a home in Butte, NE?
- • The average homeowners insurance premium paid annually for a home in Butte is around $1187 per year.
What does it cost on average per month for home insurance in Butte, NE?
- • Homeowners in Butte pay an average cost per month around $99.00 for insurance coverage.
Butte, NE - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $0 | $0 |
| February | $0 | $0 |
| March | $0 | $0 |
| April | $58,304 | $0 |
Homeowners insurance will help cover the cost to repair or replace your Butte home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Butte
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
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Saving Money Tips on Butte Home Insurance
A great way to save money on Butte homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Butte area? Check out what homeowners are paying on average for Nebraska homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 1772 ft. | This is the average home elevation in Butte, NE | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Nebraska flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Butte, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Boyd County.
Nebraska Homeowners Insurance News & Information
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2025 – Study Shows Home Insurance Market Stabilizing Posted on Wednesday 11th December, 2024
According to a new report from Matic, the homeowner’s insurance market has shown signs of stabilizing roughly two years after major premium hikes and coverage challenges. Even though premiums are high, trends in the insurance industry show that a slowdown in premium growth may be coming. Here is a brief overview of the report and […]
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What’s the average home insurance rate for a $300K home in 2024? Posted on Monday 9th December, 2024
A recent report from Insurance.com found that the average homeowners insurance rate for a $300,000 in homeowners coverage hit $2,777 per year which breaks down to $231 monthly. The cost of homeowners insurance in some states can be extremely expensive, for years Florida has been know to have the highest premiums in the nation. When […]
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$4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024
According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]
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I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024
According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]
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How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024
Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm. Understanding the different coverages that are available to homeowners is key to making sure you […]
Butte, NE Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Butte so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Butte, NE?
- The average square footage in Butte is around 396 Sq. Ft. which would cost you around $55,400 to replace the home if you base the home on the price to build per square foot of $140.
Minimum Replacement Cost Total: $55,400
Location: Butte, Nebraska (Boyd County)
Average Building Cost Per Square Foot in Butte: $140 (low end)
Average Square Footage in Butte: 396 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $140 | $55,400 |
| Some Additional Upgrades | $175 | $69,250 |
| Major Home Updates or Advancements | $210 | $83,100 |
The dwelling coverage is calculated by the average cost per square foot ($140) in Butte, Nebraska times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $437,500 (Media price to build of $175 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.