Average Cost of Homeowners Insurance in Montana (2024)


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Updated: May 22, 2024

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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.

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Rates updated:

Jul 22, 2024

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To establish the average cost of homeowners insurance in Montana, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.

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These rates reflect the average cost of car insurance in Montana as of 2024.

691.2KQuotes Analyzed
 
8Companies Compared
 
5ZIP Codes

Average Cost of Home Insurance in Montana by Coverage Amount

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.

Average Annual Home Insurance Premium Montana by Coverage Amount
$100K Dwelling / $50K Personal Property / $100K LiabilityAverage Annual Premium$2,187
$250K Dwelling / $125K Personal Property / $200K LiabilityAverage Annual Premium$3,819
$500K Dwelling / $250K Personal Property / $300K LiabilityAverage Annual Premium$5,848
$750K Dwelling / $375K Personal Property / $500K LiabilityAverage Annual Premium$7,627

Average Cost of Home Insurance in Montana by Insurer

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.

Average Annual Home Insurance Premium Montana by Provider
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
ChubbAnnual Premium$1,207
American ModernAnnual Premium$1,664
NationwideAnnual Premium$1,737
USAAAnnual Premium$1,796
State FarmAnnual Premium$2,277
AllstateAnnual Premium$2,768
FarmersAnnual Premium$3,021
TravelersAnnual Premium$16,080

Average Cost of Home Insurance in Montana by Credit Score

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.

Average Annual Home Insurance Premium in NJ by Credit Rating
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
PoorAnnual Premium$11,182
Below FairAnnual Premium$7,921
FairAnnual Premium$5,819
GoodAnnual Premium$3,819
ExcellentAnnual Premium$1,829

Average Cost of Home Insurance in Montana by Construction and Roof Type

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.

Average Annual Home Insurance in Montana by Construction and Roofing Type
Data filtered by:Results filtered by:
Construction:
Construction:Frame
Roof Type:
Roof Type:Composition
$100K Dwelling / $50K Personal Property / $100K LiabilityAnnual Premium$2,187
$250K Dwelling / $125K Personal Property / $200K LiabilityAnnual Premium$3,819
$500K Dwelling / $250K Personal Property / $300K LiabilityAnnual Premium$5,848
$750K Dwelling / $375K Personal Property / $500K LiabilityAnnual Premium$7,627
$1M Dwelling / $500K Personal Property / $1M LiabilityAnnual Premium$9,522

Average Cost of Home Insurance in Montana for Newly Constructed Homes

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.

Average Annual Home Insurance Premiums: New vs. Existing Construction
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Existing Construction (2000)Annual Premium$3,819
New Construction (2023)Annual Premium$1,857

Average Cost of Home Insurance in Montana by Claims History

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.

Average Annual Home Insurance in Montana by Claims Experience
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Claim free for 5+ yearsAnnual Premium$3,819
1 claim in past 5 yearsAnnual Premium$4,408
2 claims in past 5 yearsAnnual Premium$4,625
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MONTANA NATURAL DISASTERS AND HOME INSURANCE

In Montana, wildfires and flooding are the natural disasters that hit hardest. Homeowners insurance often covers wildfire damage. But typical policies do not cover flooding, meaning separate flood insurance is needed.

How to Shop for Home Insurance in Montana

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:

1
Understand Your Needs

Decide what coverage you need for your home.

2
Compare Quotes

To find the best deal, look at different home insurance quotes.

3
Check for Discounts

Ask about deals like bundles to save money.

4
Choose a Deductible

Pick a deductible that fits your budget.

5
Review the Insurer

Make sure the company is good and pays claims fast.

Bundling Home Insurance With Auto Insurance in Montana

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.

Home Insurance Discounts in Montana

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.

FAQ: Homeowners Insurance in Montana

On average, what is the cheapest insurer in Montana?
Is wildfire damage in Montana covered by homeowners insurance?
Is flood damage in Montana covered by homeowners insurance?
What is the biggest factor that impacts the price of homeowners insurance in Montana?
In Montana, how much, on average, can I save bundling my homeowners insurance with auto?

Additional Resources for Homeowners Insurance in Montana

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.

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.