The Best Homeowners Insurance Companies in Montana (2022)
When you’re looking for the best home insurance companies in Montana, keep in mind that top insurers should provide strong customer service and smooth claims experience. The insurance company should also be affordable and financially stable.
MoneyGeek’s analysis considered all these factors and found that Chubb is the best choice for homeowners insurance overall. However, the best insurer for you may be different, based on what you’re looking for and your specific needs and circumstances.
While MoneyGeek’s analysis found that the best-rated home insurance company in Montana overall is Chubb, scoring highest for affordability, State Farm ranked highest in terms of customer satisfaction.
Our scoring system of the best home insurance companies in Montana takes into account the needs of various homeowners. We reviewed the available coverages and discounts to give you the most options.
If you’re more concerned with savings than service quality, MoneyGeek also analyzed the cheapest home insurance companies in Montana.
The Best Homeowners Insurance in Montana
The Best Overall Homeowners Insurance Companies in Montana
MoneyGeek reviewed several insurers in Montana on important criteria such as affordability, financial stability, customer satisfaction and claims reputation. Based on our analysis, the top two overall insurance companies in Montana are:
- Chubb: MoneyGeek score of 85 out of 100
- State Farm: MoneyGeek score of 76 out of 100
We did not include USAA in this evaluation because it is exclusive to members of the military. However, with the highest score of 91 out of 100, USAA is the best choice for military members in Montana and their families.
Below, we describe the best aspects of the top insurers in Montana, Chubb and State Farm, including the rare coverages and discounts they offer.
The Top Home Insurance Companies in Montana
In Montana, Chubb ranks first for affordability and financial stability. It ranks third for user satisfaction. Chubb offers a rare add-on coverage, called cash settlement, which kicks in after a total loss. The average cost of a home insurance policy from Chubb is $1,092 per year.
That rare add-on cash settlement coverage Chubb offers means you can get a cash settlement — up to your policy limit — if you do not wish to rebuild your home after a total loss event or if you want to rebuild at a different location. This optional coverage is not commonly offered by all insurers. Chubb has a number of coverages that are included in your homeowners policy. These include contents replacement cost and cyber event or ID theft coverage. Another is extended reimbursement coverage, under which Chubb will pay to have your home repaired or rebuilt to its original condition, after a covered loss, even if the cost exceeds your policy limit.
State Farm ranks first for user satisfaction in Montana and financial stability. However, it comes in last for affordability. The insurer has opt-in coverages such as vacancy and home rental, which are not commonly offered, but does not have extended reimbursement and content replacement cost coverage. State Farm policies cost an average of $3,174 per year.
The insurer offers a unique vacancy coverage that pays for damages due to vandalism and glass breakage if your home is unoccupied and empty for more than 30 days. State Farm also has home rental coverage which provides property and liability coverage if you temporarily rent out your home. Check with State Farm about the cost of adding these optional coverages to your policy. Additionally, State Farm offers discounts for installing impact-resistant roofs in some states, and long-term policyholders may be able to claim further discounts.
MoneyGeek’s evaluation process involved collecting home insurance quotes from across the county. These quotes were balanced against property claims ratings and customer satisfaction scores from J.D. Power. We used these figures to score the best home insurance nationally and in Montana.
Your insurance costs and experience may change depending on your requirements and background. Browse MoneyGeek’s methodology if you wish to learn more about our process.
The Best Homeowners Companies in Montana for Service Quality
Price isn’t everything. That’s why we also ranked the best home insurance companies in Montana that have great customer service and claims experience without considering cost as a primary factor. Based on these criteria, the top two home insurance companies in Montana are:
- Chubb: MoneyGeek score of 82 out of 100
- State Farm: MoneyGeek score of 81 out of 100
With a score of 100 out of 100, USAA ranked highest in our evaluation. However, it is not included in our list because it is exclusive to military families. That said, USAA is the best option for current and former armed forces personnel and their families.
Below, we explain why Chubb and State Farm rank at the top for those looking for the best customer service and claims experience, irrespective of cost.
The Top Home Insurance Companies in Montana for Quality Service
Chubb ranked first for claims and fourth for user satisfaction. Still, the company is regarded as providing customers with a great service experience when they make a claim.
Chubb offers risk consulting coverage, which many providers do not commonly offer. With this coverage, you can seek advice from the company’s trained risk consultants to ensure that your house is fully protected. You may also opt for cash settlement coverage. You get cash settlement based on your policy limit if you choose not to rebuild or move to another location after a total loss. Both coverages are optional add-ons, which means you may have to pay more to include them in your policy.
The insurer ranked first for customer satisfaction and fifth for claims. State Farm has proven policy offerings and processes, which make for a great customer experience.
If you are looking for additional coverage, State Farm offers unique options. For instance, getting the optional mold coverage protects you up to $20,000 for mold damage. If you are a homeowners association member, you can add loss assessment coverage that will protect your portion of a covered loss assessed by the HOA. State Farm offers service line coverage too. This pays for repairs and replacements of external water and sewage piping and other below ground lines. Not commonly offered, these opt-in coverages will add to the cost of your policy.
The Best Homeowners Companies in Montana on a Budget
MoneyGeek also rated the best home insurance companies in Montana for those who want affordable insurance costs without compromising on customer service. The top providers are:
- Chubb: MoneyGeek score of 93 out of 100
- Travelers: MoneyGeek score of 74 out of 100
USAA received a MoneyGeek score of 82 out of 100, but was not included in this analysis, due to its exclusivity. However, it is the second-best option for members of the armed forces and their families.
In Montana, Chubb offers insurance policies that cost $1,092 per year on average, while Travelers’ policies cost $2,600 on average per year.
Below, MoneyGeek evaluates why Chubb is the highest-scoring company for homeowners on a budget, looking at some of the unique coverages and discounts it offers.
The Top Home Insurance Companies in Montana on a Budget
Cheap home insurance at $1,092 per year
Offers discounts for bundling and installing protective devices
MoneyGeek user satisfaction score of 3.77 out of 5
In Montana, Chubb received a MoneyGeek score of 5 out of 5 for affordability. Chubb offers all the commonly available discounts. These include bundling, installing protective devices and being claims-free. You can apply for a discount if you have installed protective devices such as burglar alarms, sprinkler systems and storm shutters. You can also get a discount if you have not filed any claims recently.
Chubb offers a unique discount if you live in a gated community, which is not offered by many insurers.
The Best Homeowners Companies in Montana for Expensive Homes
If you live in an expensive home in Montana, you will need an insurance policy that offers sufficient protection for your home. MoneyGeek weighed the cost of insuring a home that would cost $2 million to replace against customer satisfaction.
The top-rated insurance companies in Montana for expensive homes are:
- State Farm: MoneyGeek score of 82 out of 100
- Allstate: MoneyGeek score of 80 out of 100
USAA scored 100 out of 100 but was not considered in this category because it is not widely available. However, it is the best option for members of the military and their families in Montana.
To further explain why State Farm received the highest score among the companies offering home insurance for expensive homes, MoneyGeek broke down unique coverages offered to homeowners in need of a lot of coverage.
The Top Home Insurance Companies in Montana for High-Value Homes
User satisfaction rating of 4.09 out of 5
It ranks fourth for affordability out of five companies that we evaluated in this category
Does not offer extended reimbursement coverage, which is commonly available
Although State Farm ranks fourth for affordability, it has the best user satisfaction score in the state. The company offers the best service to those who need high insurance coverage. It offers coverage useful to owners of expensive homes, such as scheduled personal property coverage and coverage for any cyber event or ID theft.
Scheduled personal property coverage pays for the loss of silver and gold belongings, including jewelry, business property and any service charges payable to the fire department. The cyber event/ID theft coverage covers expenses incurred for services you may use after your ID has been used to commit a criminal offense. Moreover, if you have this coverage, you can get reimbursed for data recovery and system restoration expenses.
The Best Homeowners Companies in Montana for Veterans
If you serve in the armed forces or if you’re from a family that has current or former military members, you can find the best home insurance options in Montana using our review.
USAA, with a MoneyGeek score of 91 out of 100, ranks as best for home insurance for veterans in Montana. The provider’s policies cost $2,639 per year on average, and it customizes its services to meet the needs of serving armed forces members, veterans and their families.
The Top Home Insurance Companies in Montana for Veterans
The company’s coverage options are customized for military members and their families
Customer satisfaction score of 5 out of 5
Available only to current and former military members and their families
Affordability score of 3.51 out of 5
USAA has a very high user satisfaction score. It offers unique discounts and coverages that are useful for families of armed forces members. For example, all USAA policies include contents replacement cost coverage that pays for replacing your personal items at market value without depreciation. This coverage is available without extra cost, which is an added advantage.
You can choose to get more coverage, such as home rental coverage. This protects you and the guest you’re renting to, whether you’re renting out a single room or the entire house. Military veterans can also get discounts by bundling their home and auto insurance policies through USAA. It also offers discounts to policyholders who have not filed any claims for five years or more.
The Best Homeowners Companies in Montana for Bundling
Bundling your auto and home insurance policies can help you save on your insurance costs, provided you choose the right insurance provider.
If you’re looking to get the best car insurance in Montana and combine that with a great home insurance policy, MoneyGeek can help. We evaluated the best home and auto insurance bundling options in Montana.
Based on our findings, the two top-ranked companies are:
- State Farm: MoneyGeek score of 83 out of 100
- Allstate: MoneyGeek score of 77 out of 100
The Top Home Insurance Companies in Montana for Bundling
Auto MoneyGeek score of 4.07 out of 5
Offers bundling discount of 26%
Home MoneyGeek score of 3.81 out of 5
Although State Farm only received a 3.81 rating for home insurance, its auto insurance score is 4.07 out of 5. State Farm offers discounts of up to 26% when you bundle home and auto insurance with them.
State Farm offers add-on coverages, including home systems protection coverage that pays for losses due to a breakdown of mechanical and electrical appliances such as heating systems and air and water filtration systems. It also has loss assessment coverage that homeowners association members may find useful. Other optional coverages that insurers don’t often offer are service line protection, home rental, home vacancy, mold protection and energy efficiency upgrade. These coverages are available at an added fee to your policy.
How to Find the Best Home Insurance in Montana
While you’re looking for home insurance in Montana, check whether the insurance company is financially stable and offers quality service and reasonable rates. MoneyGeek carried out comprehensive research on the leading insurance providers in the state, but you can also carry out your own analysis.
Research Customer Service Reputations in Montana
When scrutinizing insurance companies, you can check how they stack up on J.D. Power’s user satisfaction scores and do the same for complaint ratios provided by the National Association of Insurance Commissioners (NAIC). It also pays to check the Montana state insurance website.
Compare Quotes for Yourself
MoneyGeek’s analysis involved getting several quotes from leading insurance companies from various cities in Montana and calculating the average rates for our sample driver. However, this analysis did not include the entire state. When performing your own analysis, the best practice is to compare home insurance quotes from three providers to get a good idea of how much insurance costs are in your city.
Make Sure the Company Has Coverages You Want in Montana
Insurers advertise many coverages and discounts with their policies. However, before making a decision, make sure that the policy includes all the coverages you need (and discounts you want) and that the insurer offers them in your zip code.
Double-Check Financial Stability Ratings
It’s important to check the financial stability of your insurance company to ensure your claims are paid out without hassle. Usually, larger companies are more financially sound, whereas regional insurance providers in Montana may have lower stability ratings.
FAQs About the Best Home Insurance in Montana
Although MoneyGeek’s analysis offers the best options for all types of homeowners in Montana, the best policy for you may vary depending on your circumstances and what you are looking for. To learn more about the best home insurance options in the state, you can check our answers to some of the most frequently asked questions.
MoneyGeek scores for homeowners insurance in Montana were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from the top insurance companies in Montana that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Montana. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
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