We calculate the estimated monthly insurance costs based on the data provided.īest Providers By Market Share In Montanaįinding the right home insurance policy starts with the insurance company. Source: The annual average premiums came from the Insurance Information Institute’s latest recorded data. The market for home insurance in Montana is primarily dominated by State Farm, while Liberty Mutual and Farmers are behind it. In comparison, the most expensive place is Miles City. The most affordable city for purchasing home insurance in Montana is Columbia Falls.

As you can see, the rates in Montana are fairly standard when compared to the rest of the country and, to an extent, are slightly more affordable. According to III, the average annual premium for the entire country is $1,192. This translates to monthly payments of $94. In the state of Montana, the annual premium (on average) is $1,130 in 2016, from Insurance Information Institute’s (III) latest data on the matter. With that said, you can look at the average policy premiums for Montana to get a sense of how much you will need to spend. Insurance costs vary widely depending on where you live and the value of your home. Houses have been destroyed by hurricanes, earthquakes, and many other natural disasters that can strike seemingly at random. Worse yet, is the prospect of a major catastrophic event. If a sudden fire arises, costly damages can easily add up without insurance. Worse yet, it happens when you least expect it. The cost of home repair is often far higher than you would expect. You do not want to end up paying out of pocket for the expenses incurred by a random incident that damages your home. There are many good reasons to invest in a homeowners insurance policy. Rainfall and subsequent flooding are also a possibility. On the opposite end, wildfires can be a common occurrence, particularly within the valleys of Montana. This can be harmful for your dwelling as pipes can burst, while other structures can become stiff and brittle. Across the state, temperatures are known to drop below freezing. Montana experiences extremely cold winters. From earthquakes to tornadoes, and hail storms, it would seem that homeowners insurance is a necessity for local homeowners. However, the drawback of this natural beauty is that Montana experiences some harsh climate-related hazards. It is home to the Rocky Mountains, the Great Plains, and Yellowstone National Park along with many national forests and wilderness areas. Census Bureau.Īlso known as the Treasure State, Montana is known for its breathtaking natural beauty. The average premium amount was sourced from the latest data of the Insurance Information Institute, and the statistical data from the U.S. High school grad or higher, percent of people age 25 years +: 93%.Average value of homes that’s occupied by owners: $209,100.On average, Montanans are paying $1,344 every month on homeownership costs. There are 500,000 homes in the Treasure State, 68% of which are occupied by owners. Cheap Montana Home Insurance Rates & The Best Companies We thank you for your understanding and support. Your support through clicking on these affiliate links helps us continue our mission of helping people navigate the complex world of home insurance. Therefore, we aim to provide you with unbiased, high-quality content that helps you make informed decisions about home insurance. While the commission from these affiliate links helps us run this website, your trust and satisfaction are our top priority.

We recommend only those products and services that we genuinely feel will be of benefit to you, our valued reader. We believe in the value and importance of the services we recommend and strive to ensure they meet the highest standards. Our evaluations are based on comprehensive research, personal experiences, and genuine user feedback. However, it is important to note that our reviews and recommendations are not influenced by these affiliations. It enables us to consistently research and review various home insurance options, so we can present you with the most accurate and up-to-date information. These affiliate links allow us to generate income that helps us maintain the quality and relevance of the content we provide. This means that we may earn a small commission at no extra cost to you if you choose to make a purchase after clicking on these links. It is our responsibility to inform you that some of the links provided on our website are affiliate links. Advertising Disclaimer Advertising Disclaimer We at HOIC believe in transparency and honesty in all our endeavors.

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