Average Costs and Cheapest Homeowners Insurance Companies in Montana

The price of your home insurance costs can vary greatly depending on your specific needs. Chubb is the top choice for affordability across the state as it offers the cheapest policies for homeowners with newer and more expensive homes, pools and also for homeowners with a poor credit score.

MoneyGeek included thousands of quotes from multiple providers in its analysis to determine the average rates and provide you with the most affordable homeowners insurance options in Montana.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Montana if you want to balance cost and quality.

MoneyGeek analyzed thousands of quotes from multiple providers to calculate average rates and determine the most affordable providers in Montana for different dwelling coverages.

The best option for someone looking for the cheapest home insurance companies in Montana for a baseline dwelling coverage of $250,000 is Chubb with an average rate of $1,092 per year. Chubb also provides the most affordable policies for dwelling coverage limits of $100,000 and $500,000.

How much dwelling coverage you need will be based on the replacement cost of your home. Toggle the table below to find out how much insurance will cost for the dwelling coverage that you need.

Your home insurance premium can vary significantly depending on your desired dwelling coverage. A higher coverage limit means that your home and personal possessions are adequately protected against potential damages but with this comes steeper rates.

The baseline dwelling coverage in Montana is $250,000, and policies with this coverage limit cost an average of $2,595 per year. Insurance rates could be as low as $1,477 per year for a dwelling coverage of $100,000, and as high as $17,892 for a dwelling coverage of $3 million.

The cost of homeowners insurance in Montana is determined by several factors. Insurance providers will calculate your premiums based on your house’s value, age, location, roofing quality, safety features and personal property, among many others. Coverage rates may also be higher for homes in risk-prone areas.

To see how the average cost of homeowners insurance in Montana can change, adjust your dwelling coverage limits, deductible and other limits in MoneyGeek’s calculator.

To help you find the cheapest insurance companies in Montana for a range of dwelling coverages, MoneyGeek calculated the average rates based on thousands of quotes from different providers.

Based on our analysis, the most affordable options for homeowners looking for a policy with $2 million dwelling coverage are from:

• Chubb: $5,753 per year
• Farmers: $10,403 per year

Although USAA was the second-cheapest option, its policies are available only to those with a military background.

Insurance rates for high-value homes can vary greatly depending on the actual dwelling coverage and insurance company. It is important to shop around and compare quotes from multiple providers.

MoneyGeek analyzed thousands of quotes from different providers in Montana to find the cheapest option for newer homes with $250,000 baseline dwelling coverage.

Using rates for a sample home built in 2015, we found that the most affordable homeowners insurance rates in Montana are from:

• Chubb: $960 per year
• Allstate: $1,969 per year

USAA also ranks high in terms of affordability and may be a good option for military families.

Insurers tend to be partial to newer homes, giving lower rates and also offering discounts for the installation of security and safety devices. In Montana, annual premiums for homes built in 2015 are $671 cheaper than for homes built in 2000.

Numbers for these 2000 homes differ from the first section due to a different ZIP code collection process.

Insurance rates for newer homes in Montana are $671 cheaper than for older homes. On average, newer homes cost $1,947 per year in premiums, while those built in 2000 are more expensive to insure at an annual rate of $2,618.

Insuring older homes is riskier because their owners are more likely to file a claim. The home’s structure might not meet current code requirements and building standards. Additionally, the electrical, plumbing and roofing systems may already be outdated or faulty.

For a baseline dwelling coverage of $250,000, the cheapest homeowners insurance providers in Montana for those with a pool are:

• Chubb: $1,092 per year
• Travelers: $2,874 per year

Although USAA ranked second in affordability for homeowners with a pool, its policies are exclusively available to active and retired military personnel and their families.

Some home improvements like a pool can increase the value of your property which also makes it more expensive to insure. Insurance providers typically view a swimming pool as a risk hazard that increases the chance of accidents, so you might be required to pay for increased liability coverage or additional umbrella policies.

In some states, having a pool on your property may have an impact on the cost of your home insurance. Luckily, Montana homeowners with a pool may not need to factor in this additional cost. For a $250,000 dwelling coverage limit, homeowners with a pool get the same average premium rate of $2,618 as homeowners without a pool.

Insurance providers may also look at your credit score to determine the cost of your policy. MoneyGeek found the cheapest provider for homeowners with a poor credit record by averaging thousands of quotes.

We found that for a $250,000 dwelling coverage baseline, the most affordable homeowners insurance in Montana for homeowners with poor credit are from:

• Chubb: $1,092 per year
• Travelers: $4,566 per year

Having a poor credit score makes homes more expensive to insure because people who have lower credit scores also tend to have higher insurance losses and claims payouts.

Most homeowners insurance providers use credit scores to set their premiums. Generally, a poor credit background can raise your insurance rates.

The average cost of homeowners insurance in Montana for someone with a good credit score is $2,618 per year, while the average annual premium for someone with a poor credit history is $6,272. This $3,655 difference may be a considerable amount for people with leaner budgets.

The city you live in also determines how much your insurance costs.

MoneyGeek found that Chubb is the cheapest home insurance company in Billings. A policy at Chubb costs an average of $1,092 per year, which is $1,503 cheaper than the city’s average annual rates across all insurers. This rate is for a dwelling coverage baseline amount of $250,000.

If you are looking for home insurance in Montana, you would have to furnish your provider with relevant information like your name, home address, phone number, and social security number. You would also need to disclose the value of your home and its contents along with the details of construction, security systems, and valuables. All this information is required to get a binding personalized home insurance quote estimate from an insurance company.

You can also choose to get an anonymous home insurance estimate using MoneyGeek’s Montana home insurance calculator. We compiled thousands of quotes from different providers to determine the average estimated costs.

MoneyGeek analyzed homeowners insurance premiums from six of the top affordable homeowners 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 $500,000, liability coverage of $100,000 and personal property coverage of $100,000.