Average Cost of Homeowners Insurance in Montana (2024)

The average cost of homeowners insurance in Montana in 2024 is $3,819. Montana's average is notably higher than the national average, which is $2,423. Aside from coverage amount, the insurance provider has the largest impact on premiums, with the difference between the lowest and highest premium amounts reaching $15,513 on average.

If your rates have recently increased, we've also analyzed the cheapest policies in Montana that may help you find budget-friendly alternatives. Remember, the insurance provider you choose can significantly impact your premiums.

In Montana, the average annual premium for homeowners insurance is $3,819. This rate is for a standard policy covering $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage, and it's more than the national average of $2,423.

Selecting the right amount of home insurance is important. Your policy should be comprehensive enough to rebuild your home and replace belongings after a total loss. This includes personal property, additional structures, liability and loss of use coverage.

Coverage needs directly influence your premium. For example, a Montana homeowner with $100K in dwelling coverage pays an annual premium of $2,187. Those with larger homes requiring $500K in dwelling coverage see their premium rise to $5,848.

Premiums for homeowners insurance in Montana vary significantly among providers for comparable coverage. For instance, Travelers offers a policy that is over 13 times more expensive than a similar one from Chubb, highlighting a substantial disparity in pricing.

While these variations exist, there are plenty of great providers in Montana. Differences in underwriting can lead to a wide range of premiums, emphasizing the importance of shopping around.

Homeowners in Montana with poor credit scores pay $11,182 annually for homeowners insurance, a steep increase compared to those with excellent credit who pay $1,829. This disparity highlights the impact credit scores have on insurance rates, with poor credit resulting in premiums that are $7,363 higher than the state average.

Improving your credit score can lead to lower insurance rates over time. Meanwhile, comparing insurers can reveal more affordable options, sometimes in as little as 15 minutes. Discover which insurers offer the most savings for your specific situation in Montana.

In Montana, the type of roof on your home can affect the cost of your homeowners insurance. Materials that are more durable, like tile, can lead to lower premiums due to their resistance to damage. Conversely, less durable materials like shake-treated wood may increase premiums.

Similarly, the construction type of your home influences insurance costs. Homes built with materials that are more resistant to common perils, such as fire, often receive better insurance rates. Superior construction materials can result in lower premiums compared to standard frame construction.

Use the drop-downs in the table below to see how premiums change based on your home's materials.

Insuring a new construction home in Montana typically costs less than covering an existing one due to modern materials and adherence to current building codes. The average annual premium for a new home is $1,857, which is $1,962 lower than the $3,819 average for older homes. The table below shows the premium differences for varying coverage levels.

In Montana, homeowners who have maintained a claim-free record for over five years can expect an average annual premium of $3,819. However, those with one claim within the past five years see an average increase to $4,408, while two claims can raise the average premium to $4,625. These figures reflect the impact of claims history on insurance costs, with a single claim potentially leading to a 15% rise and two claims to a 21% increase from the claim-free baseline.

Shopping for home insurance in Montana doesn't have to be a mountain of a task. In fact, snatching up a good deal on your policy is more like a scenic drive through Big Sky Country — straightforward and rewarding. You'll feel at ease knowing that finding the best deal for you is within reach with these steps:

Homeowners who bundle their home insurance with auto insurance in Montana can expect to save on their overall insurance costs. Specifically, Montanans can save between $563 and $954 per year, averaging a 17% discount on their combined policies. This multipolicy approach not only simplifies your insurance management but also offers tangible financial benefits.

Montana homeowners can tap into insurance discounts to lower their premiums.

• Claims-Free Discount: Savings for no claims in past years.
• Protective Devices Discount: Discount for installing security systems.
• Loyalty Discount: Reduced rates for long-term policyholders.

To maximize your savings, inquire about all possible discounts when requesting a quote.

For those navigating the homeowners insurance landscape in Montana, a wealth of resources is available to guide you through the process. Whether you're looking for official regulations, cost-effective options, or specific coverage details, these resources offer valuable insights.

• Montana Commissioner of Securities and Insurance: Official state resource for insurance regulations.
• Affordable Home Insurance in Montana: Find cost-effective options for your home.
• Montana Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Montana: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.