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To help you get a quick estimate, MoneyGeek has a car insurance calculator you can use to calculate insurance premiums in need in Montana. Getting ballpark figures can help you determine where to start your car insurance search.
Several factors affect the cost of your auto insurance. MoneyGeek analyzed how insurers in Montana determine premiums, so you know which factors affect the price of your policy.
Montana Car Insurance Calculator: How it Gets You an Instant, Free Estimate
It usually takes 10 to 15 minutes to get personalized and accurate auto insurance quotes in Montana since you need to provide a variety of personal information.
With MoneyGeek’s car insurance calculator, you can get a quick estimate of your car insurance costs in Montana. The quote is based on your age, driving record, vehicle type and coverage levels.
According to our calculator, the factors that most influence the cost of your premiums in Montana are adding a teen driver to your policy, the coverage level you select and your age. Depending on your driver profile, however, the most important factors for you may be different.
The cheapest company in Montana for you depends on various factors, but MoneyGeek’s calculator can provide a rough estimate. Our default driver pays $331 per year for auto insurance with State Farm, the cheapest widely-available company.
Price isn’t everything and shouldn’t be the only factor you consider when choosing your car insurance policy. It’s important to also look for a company with great customer service and that offers the coverages you want.
You can use our car insurance calculator to get an estimate of your costs or browse through our collection of sample drivers to help you find the cheapest car insurance in Montana.
MoneyGeek also analyzed the average cost of car insurance in Montana. This information allows you to compare rates against the national average. For example, Montana is ranked 30th among all states in terms of car insurance affordability.
We also rated Montana’s best auto insurance companies, so you can consider factors aside from price. Affordability should be balanced with customer service and claims satisfaction.
How Car Insurance Premiums are Calculated in Montana
Car insurance companies in Montana consider several factors when calculating the price of your policy. The most important factors include adding a teen driver to your insurance, the coverage level you select and your age. For example, the coverage level you choose can multiply your insurance rates by 2.2x in Montana.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in Montana
Car insurance companies consider teen drivers as high-risk due to inexperience. Research shows that teen drivers are nearly three times as likely as drivers aged 20 or older to be in a fatal crash. Therefore, insurers include this risk factor when calculating car insurance costs and charge more when you add a teen driver to your policy.
Adding a teen driver to your policy is the most expensive factor that affects your auto insurance rates in Montana, multiplying your premium by as much as 3.1x.
How Much Coverage Levels Matters in Calculating Car Insurance in Montana
The cost of your premium is also based on the level of coverage you choose. The cheapest option is the state minimum liability-only and the most expensive is full coverage with a 100/300/100 liability and $500 deductible. Choosing full coverage can increase your rates by 2.2x.
How Much Age of Driver Matters in Calculating Car Insurance in Montana
Your age is another factor insurers consider when calculating your auto insurance premiums. Compared to older drivers, younger drivers are riskier to insure because they’re inexperienced and more likely to get into an accident. Thus, insurance companies charge young drivers more for car insurance. If you’re 19 or 20 years old, your rates will be more expensive than those for a 40-year-old driver.
The cheapest car insurance in Montana is for a 40-year-old driver, while the priciest is for a 19 to 20-year old. Your age can affect your car insurance rates by 2.3x.
How Much Credit Score Matters in Calculating Car Insurance in Montana
Your credit score also plays a vital role in determining your car insurance rates in Montana. Drivers with poor credit are considered more likely to file a claim because they may not be able to pay for repairs out of pocket. Therefore, their car insurance costs tend to be higher than those for drivers with good credit.
In fact, having a poor credit score in Montana can multiply your premium by as much as 2.2x.
How Much Model of Car Matters in Calculating Car Insurance in Montana
In Montana, auto insurance providers also consider the type of car you drive when calculating your car insurance premiums. Luxury cars cost more to insure since they are more expensive to repair. Additionally, some vehicle models are more prone to theft and therefore require more protection.
A luxury sports car is the most expensive car to insure, while SUVs and sedans are typically cheaper. Drivers with vehicles that are expensive to insure may pay 2x more for their premiums.
How to Calculate How Much Car Insurance You Need in Montana
One of the most significant factors that affect the cost of your car insurance in Montana is how much insurance you buy. Calculating how much car insurance you need in Montana can help you choose a policy that balances affordability with the level of protection you prefer or need.
Montana requires specific coverage for bodily injury liability per person, bodily injury liability per accident and property damage liability per accident. However, you may wish to consider purchasing additional liability insurance and comprehensive and collision insurance, depending on your unique situation.
Understand Montana car insurance requirements
You can look up the minimum car insurance requirements in Montana to determine how much car insurance you need. It’s important to remember that state minimum insurance only covers 20/50/20: $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident and $20,000 property damage liability per accident.
Montana doesn’t require drivers to buy comprehensive and collision insurance, which is the coverage that protects against damages to your vehicle.
Consider Purchasing Additional Liability Insurance
While car insurance that meets the state minimum offers basic protection, you might need liability insurance on top of it to protect yourself against the costs of a major accident. On average, minimum liability insurance in Montana costs $462. If you increase your bodily injury liability coverage to $300,000, you’ll pay $692 more.
Decide whether or not to buy comprehensive and collision insurance
Although Montana law doesn’t require comprehensive and collision insurance, it might be best to consider purchasing full coverage since it protects you from loss or damage to your vehicle. Montana doesn’t require full coverage, but lenders usually do.
It costs an average of $483 per year to add comprehensive and collision coverage with a $1,000 deductible. If the replacement value of your car is low, the added cost of this coverage may not make financial sense.
Consider buying additional protection besides these core coverages
Montana does not require uninsured/underinsured motorist coverage. However, 8.5% of motorists there are uninsured, so coverage may be an affordable way to protect against these drivers who are either uninsured or underinsured.
Montana also doesn’t require personal injury protection. As an alternative, you may wish to consider medical payments coverage as an add-on to your car insurance policy. Also known as MedPay, it can pay for your medical bills and cover the costs of injuries to your passengers.
Frequently Asked Questions About How Car Insurance is Calculated in Montana
We answer some of the most commonly asked questions about how to calculate insurance costs in Montana.
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Montana. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick
- Centers for Disease Control and Prevention. "Teen Drivers: Get the Facts." Accessed February 10, 2022.