Nebraska law requires all registered motor vehicles (autos) to maintain proof of financial responsibility (insurance).

Nebraska Revised Statute 60-346 defines proof of financial responsibility stating that it means evidence of ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of such proof, arising out of the ownership, maintenance, or use of a motor vehicle, (1) in the amount of twenty-five thousand dollars ($25,000) because of bodily injury to or death of one person in any one accident, (2) subject to such limit for one person, in the amount of fifty thousand dollars ($50,000) because of bodily injury to or death of two or more persons in any one accident, and (3) in the amount of twenty-five thousand dollars ($25,000) because of injury to or destruction of property of others in any one accident. This is usually referred to as 25/50/25.

So the state of Nebraska requires you to carry these liability covers on your vehicle. It is not a state law that requires you to keep physical damage coverages of collision and comprehensive on a financed vehicle but instead it typically is the lien holder that mandates these coverages be placed and maintained on the vehicle.

In your finance documents there is usually a description of the types of insurance that must be obtained and kept on the vehicle until it is paid off and you become the title holder of the car without a lien holder on it.

The leasing or loan company wants their asset, the vehicle, to be properly covered with these physical damage coverages. If you choose to not place the types of insurance that your financing company requires they can place "forced" insurance on it or may even be able to take the vehicle back.