Finding the Best Homeowners Insurance in Montana
The homeowners in the Big Sky are aware that getting the best homeowners insurance in Montana is the most proactive means of safeguarding their valuable investments. However, securing cheap homeowners insurance in Montana can be quite challenging due to unpredictable climate changes and natural hazards. This uncertainty puts the state in a high-risk category for homeowners insurance. Before you go looking for Montana homeowners insurance quotes, you need to understand how that affects your premium. Although you might want the best deal, price is not the only factor here. Your policy of choice should serve you in terms of the level of coverage. Your insurance policy should protect you against risk, and rushing to sign a quote because it is cheap may not be a great strategy. More competitive quotes usually cover a lot less, so when you compare quotes, be sure to see exactly what you get. On the other hand, overly expensive quotes may not be worth it. So for an effective comparison, understand the offers, and select one that gives you the best protection at the least price. Most homeowners insurance quotes usually have a maximum payout limit for different scenarios, like flooding, so keep that in mind.
| Montana Homeowners Insurance Cost Broken Down | Price |
|---|---|
| Yearly Cost of Homeowners Insurance in Montana | $1,618.00 |
| Costs Per Month for Homeowners Insurance in Montana | $134.83 |
How Much is Homeowners Insurance in Montana
Homeowners insurance involves protecting both the interior and exterior of the home. However, the Treasure State often experiences natural hazards such as thunderstorms, floods, earthquakes, tornadoes, and wildfires. Of all these, tornadoes and floods are most common. Although there are small tornadoes in different parts of the state during spring, the central and eastern parts have it the worst, with the central part being nicknamed "Tornado Alley." In the past century alone, there have been five major floods. Montana has also had 1,474 fires, with over 64,000 acres of land affected. So if you're wondering how much is homeowners insurance in Montana, you can expect higher premiums. The average cost of homeowners insurance in Montana is $1,321. This price is above the national insurance average, which is $1,255 and results in homeowners incurring higher average insurance premiums. Per month, the average cost of homeowners insurance in Montana is $110, which is about 10% higher than the average homeowner's insurance across the US at $101. Since 2015, Montana's insurance rates have grown from $90 per month to $110, a $20 increase. When compared to the national average that has gone up only about $3, the difference becomes very clear. State Farm offers the highest premiums at $1699, but Farmers offers $826 per year; little wonder they carry about 13% of Montana's insurance market share. Residents of Billings pay higher than usual, at $1642. However, if you live in Belgrade, you can get quotes as low as $844. You can expect that in the coming years, the homeowner's insurance rates in Montana will increase.
| City in Montana | Monthly Costs | Yearly Costs |
|---|---|---|
| Billings, MT | $200.00 | $2,400.00 |
| Missoula, MT | $128.00 | $1,536.00 |
| Great Falls, MT | $150.33 | $1,804.00 |
| Bozeman, MT | $126.42 | $1,517.00 |
| Butte, MT | $135.00 | $1,620.00 |
| Helena, MT | $130.58 | $1,567.00 |
| Kalispell, MT | $104.75 | $1,257.00 |
| Havre, MT | $153.00 | $1,836.00 |
| Anaconda-Deer Lodge County, MT | $129.00 | $1,548.00 |
| Belgrade, MT | $119.42 | $1,433.00 |
| Helena Valley West Central, MT | $135.00 | $1,620.00 |
| Miles City, MT | $220.67 | $2,648.00 |
| Whitefish, MT | $106.58 | $1,279.00 |
| Livingston, MT | $139.50 | $1,674.00 |
| Evergreen, MT | $104.75 | $1,257.00 |
| Helena Valley Southeast, MT | $130.00 | $1,560.00 |
| Lockwood, MT | $195.75 | $2,349.00 |
| Laurel, MT | $221.50 | $2,658.00 |
| Sidney, MT | $180.58 | $2,167.00 |
| Lewistown, MT | $185.75 | $2,229.00 |
Montana Homeowners Insurance Laws
Disaster coverage is an essential part of the Montana Homeowners Insurance Policy. This is because the state is known for tornadoes, earthquakes, hurricanes, and even occasional floodings. Most people who live in high-risk areas will want to buy Homeowners Insurance that protects them from this. However, this is not required by Montana Homeowners Insurance laws. Although, for those who voluntarily decide to buy an insurance policy, there are rules. There are certain Montana Homeowners Insurance requirements by law, and these must be met before any Montanan buys a plan from any insurer. According to this requirement, all insurance plans must be reviewed by the Securities & Insurance Office of the Montana State Auditor. This is to protect the homeowner from buying the plan. This protection entails making sure that they are receiving a fair quote from their insurer. And it is achieved by comparing the prices of plans sold in Montana. Any plan that violates Montana Law or discriminates against Montanans will not be sold. This implies that even Montana Homeowners who are willing to buy a plan judged unfair by the Insurance Office would be breaking the law. Therefore, it is illegal to buy or sell an insurance plan that has not been reviewed.
What Does Homeowners Insurance Cover in Montana
If you’ve found yourself asking, “What does homeonwers insurance cover in Montana?” we’ll take a look at the facets of coverage, from essential coverage to other add-on policies. The first type of Essential coverage is Dwelling coverage. Dwelling coverage offers protection for the structure of the building in question. Depending on your quote, it may extend to other buildings that are attached to the home, like a garage, but this is not the case by default. However, Other Structures coverage is designed specifically to cover all other structures that are attached to your building, like a tool shed or fence. In case a visitor in your home is wounded while in it, or in some cases while away from it, Liability Protection protects you from the cost of their medical treatment. If anything prevents you from living in your homes, such as a covered loss and its repair, Additional Living Expenses coverage covers you for a specified number of months while the damage is being assessed, repaired, or your house is rebuilt. Personal Property protection protects the personal belongings that you keep in your home and is particularly flexible to accommodate various lifestyles. Other add-on coverages include protection for jewelry, money, collectibles, firearms, and coverages for specific hazards that may not be covered by default, such as floods, earthquakes, or mold.
| Costs of Home Insurance in Montana by County | Monthly Average Costs | Yearly Average Costs |
|---|---|---|
| Beaverhead County, MT | $95.83 | $1,150.00 |
| Big Horn County, MT | $134.75 | $1,617.00 |
| Blaine County, MT | $95.92 | $1,151.00 |
| Broadwater County, MT | $83.50 | $1,002.00 |
| Carbon County, MT | $108.75 | $1,305.00 |
| Carter County, MT | $185.17 | $2,222.00 |
| Cascade County, MT | $104.42 | $1,253.00 |
| Chouteau County, MT | $102.33 | $1,228.00 |
| Custer County, MT | $180.25 | $2,163.00 |
| Daniels County, MT | $121.25 | $1,455.00 |
| Dawson County, MT | $153.50 | $1,842.00 |
| Deer Lodge County, MT | $71.58 | $859.00 |
| Fallon County, MT | $194.33 | $2,332.00 |
| Fergus County, MT | $138.83 | $1,666.00 |
| Flathead County, MT | $70.58 | $847.00 |
| Gallatin County, MT | $83.83 | $1,006.00 |
| Garfield County, MT | $161.25 | $1,935.00 |
| Glacier County, MT | $84.67 | $1,016.00 |
| Golden Valley County, MT | $131.25 | $1,575.00 |
| Granite County, MT | $78.58 | $943.00 |
| Hill County, MT | $100.67 | $1,208.00 |
| Jefferson County, MT | $70.75 | $849.00 |
| Judith Basin County, MT | $131.58 | $1,579.00 |
| Lake County, MT | $91.33 | $1,096.00 |
| Lewis and Clark County, MT | $84.42 | $1,013.00 |
| Liberty County, MT | $124.75 | $1,497.00 |
| Lincoln County, MT | $76.25 | $915.00 |
| Madison County, MT | $78.08 | $937.00 |
| McCone County, MT | $161.17 | $1,934.00 |
| Meagher County, MT | $88.00 | $1,056.00 |
| Mineral County, MT | $93.83 | $1,126.00 |
| Missoula County, MT | $83.58 | $1,003.00 |
| Musselshell County, MT | $120.17 | $1,442.00 |
| Park County, MT | $90.75 | $1,089.00 |
| Petroleum County, MT | $115.67 | $1,388.00 |
| Phillips County, MT | $114.83 | $1,378.00 |
| Pondera County, MT | $94.33 | $1,132.00 |
| Powder River County, MT | $186.83 | $2,242.00 |
| Powell County, MT | $76.25 | $915.00 |
| Prairie County, MT | $202.83 | $2,434.00 |
| Ravalli County, MT | $92.50 | $1,110.00 |
| Richland County, MT | $130.33 | $1,564.00 |
| Roosevelt County, MT | $133.17 | $1,598.00 |
| Rosebud County, MT | $171.50 | $2,058.00 |
| Sanders County, MT | $95.83 | $1,150.00 |
| Sheridan County, MT | $128.92 | $1,547.00 |
| Silver Bow County, MT | $82.58 | $991.00 |
| Stillwater County, MT | $108.08 | $1,297.00 |
| Sweet Grass County, MT | $97.17 | $1,166.00 |
| Teton County, MT | $99.33 | $1,192.00 |
| Toole County, MT | $114.50 | $1,374.00 |
| Treasure County, MT | $161.00 | $1,932.00 |
| Valley County, MT | $149.67 | $1,796.00 |
| Wheatland County, MT | $113.42 | $1,361.00 |
| Wibaux County, MT | $162.25 | $1,947.00 |
| Yellowstone County, MT | $143.42 | $1,721.00 |
Top Rated Homeowners Insurance Companies in Montana Based on Ratings
The companies offering Homeowners Insurance in Montana have different strengths and interests. They cater to different segments of the population. The four top-rated Homeowners Insurance companies in Montana are named in the following Montana Homeowners Insurance companies list. Each of them has a better claim than most other companies as one of Montana's Best Homeowners Insurance Companies. First, Farmers Insurance offers the cheapest rates in Montana, with an average cost of $1,1613 every year. It also has more varied coverage, including the green home coverage that appeals to more eco-friendly customers. Next is USAA, rated 5 out of 5 by JD, and receives fewer customer complaints than average. The average cost of its coverage is $2,064, which is higher than Montana's average rate. Its services are mainly aimed at members of the military. Chubb, unlike the others, is a company that offers its services only to homeowners with high net worth. Travelers cost slightly higher than USAA, with an average rate of $2,100 every year. It is also a national insurer with adequate financial and technological resources to cater to its customers nationwide.
| Montana Home Insurance Company | JD Power Rating | NAIC Rating |
|---|---|---|
| State Farm Ratings for Homeowners Insurance in Montana | 4/5 | 0.2 |
| Farmers Ratings for Homeowners Insurance in Montana | 3/5 | 0.39 |
| USAA Ratings for Homeowners Insurance in Montana | 5/5 | 0.15 |
| Travelers Ratings for Homeowners Insurance in Montana | 2/5 | 0.3 |
| Allstate Ratings for Homeowners Insurance in Montana | 3/5 | 0.31 |
| Chubb Ratings for Homeowners Insurance in Montana | 2/5 | 0.03 |
How to Lower Homeowners Insurance in Montana
Homeowners Insurance in Montana is highly sought after due to the high likelihood of property damage. Flooding, tornadoes, or hurricanes can cause this damage. Due to its importance, you want to buy the policy with the widest coverage and highest service quality. But if it’s not affordable, it wouldn’t adequately meet your needs. This is why knowing how to lower Homeowners Insurance in Montana is a useful way of reducing expenses. Montana Homeowners Insurance rates are already low in relation to the national average. They cost $1,175 on average compared to $1,288. But you can cut costs even further by taking advantage of available Montana Homeowners Insurance discounts. You can get discounts on your premium by installing devices that protect your home. If you have a home security system installed, for example, the cost of your home security coverage will reduce. You can also reduce costs by avoiding financial losses. If you haven’t suffered any losses in a long time, your insurer will give you more moderate quotes. Maintaining a good credit history is important as well. Buying a bundling plan will also make you entitled to a multi-policy discount.
Compare Homeowners Insurance in Montana Before Buying
The kind of insurance policy you decide to buy and which company you choose to buy from depends on your needs. You will take cost, quality, and your kind of coverage into account. This is why when you go shopping for Homeowners Insurance in Montana, you have to consider what you are being offered side-by-side with your interests. This helps you to compare Homeowners Insurance in Montana to determine which one is best for you. Affordable Homeowners Insurance in Montana must be cheap while still being among the best. Farmers Insurance is cheap, with an average cost of $1,613 per year, and has a variety of coverages. But you should be aware that USAA has the best rating on customer service, although it is more expensive at an average cost of $2,064 per year. Although, if you’re in the military, either retired or inactive duty, its services would be the best for you. Your property will be covered even when you are in a war zone. As for Chubbs, it only caters to high net-worth individuals. Travelers are the only option left with the financial and technological capacity to provide more high-quality coverage. It also offers discounts for good credit history and multi-policy purchase.