State Farm and Chubb are the best cheap renters insurance companies in Montana. State Farm ranks top for affordable rates. Chubb offers the best coverage options and has the highest claims satisfaction rating.
Cheap Renters Insurance in Montana
Updated: April 30, 2025
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Key Takeaways
State Farm is Montana's best overall and cheapest renters insurance company, with rates starting at $165 per year.
Renters insurance costs an average of $22 monthly in Montana, ranging from $14 to $28.
To find the best and most affordable renters insurance, decide on your coverage needs first. Then, research costs and compare many quotes.
Montana Renters Insurance Quote Estimates
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Rates updated:
Jun 06, 2025
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Best Cheap Renters Insurance Companies in Montana
| State Farm | 95 | $14 | $165 |
| Chubb | 95 | $20 | $241 |
| Nationwide | 93 | $26 | $314 |
| Allstate | 89 | $20 | $238 |
| Farmers | 85 | $28 | $340 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Compare Personalized Best Cheap Renters Insurance in Montana
While our list above covers most renters, it may not show your ideal options. We've made a filterable table that matches your profile to help you find the best options in Montana.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Contents Replacement:Yes
Select
Credit Tier:Good
| State Farm | 95 | $10 | $115 |
| Nationwide | 88 | $17 | $210 |
| Chubb | 85 | $20 | $244 |
| Allstate | 85 | $15 | $183 |
| Farmers | 74 | $23 | $280 |
Best Montana Renters Insurance Reviews
Below are details about our top picks for renters insurance in Montana, based on affordability, customer service and coverage options.
State Farm: Most Affordable Plans
pros
Most affordable rates regardless of profile
Great customer service reputation
High financial stability ratings
cons
Below-average claims satisfaction ratings
Very few add-on options
COMPANY HIGHLIGHTS
State Farm offers Montana's lowest renters insurance rates, starting at $14 monthly, regardless of coverage needs or personal profile. Besides affordable rates, it ranks fourth nationally in customer satisfaction, according to J.D. Power. State Farm also lets you select your preferred amount of personal property coverage.
Chubb: Best Coverage and Claims Satisfaction
pros
Best claims satisfaction ratings in the U.S.
Most included coverages for renters
cons
Not the most affordable option for most renters
COMPANY HIGHLIGHTS
While Chubb ranks third-most expensive for renters insurance in Montana, it includes unique benefits unavailable elsewhere. Its plans feature identity protection and a property monitoring service that alerts you to home issues. The service also notifies you about natural disasters when you're away and automatically calls emergency services if your rental faces potential damage.
Average Cost of Renters Insurance in Montana
The average cost of renters insurance in Montana is $263 per year, $21 higher than the national average of $242. These rates reflect a policy with $50K in personal property coverage, $100K in liability limits and a $1,000 deductible. Your rate may vary based on your specific situation.
Below is a table where you can filter key factors affecting renters insurance rates to see average costs for your profile.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Credit Tier:Good
Select
Contents Replacement:Covered
| $50K Personal Property / $100K Liability | $22 | $263 |
Montana Renters Insurance: Buyer's Guide
Finding the right renters insurance in Montana can be challenging. This guide helps you identify the coverage that matches your needs and budget.
How to Find the Best Cheap Renters Insurance in Montana
Follow these steps to get the best and cheapest policy:
- 1
Determine the right coverage level
Before buying renters insurance, assess what you want covered. Know the value of your belongings, potential weather risks and liability concerns.
- 2
Research costs and discounts
Understand average costs and available discounts. This helps you evaluate offers and find affordable options.
- 3
Compare providers
Examine different insurers' reputations, costs and coverage options. Finding the right provider ensures quality insurance at competitive prices.
- 4
Consider bundling
If you have auto insurance, ask if your provider offers discounts for adding renters insurance. This often leads to savings.
- 5
Get multiple quotes through different channels
Collect at least five quotes from comparison sites, provider websites, brokers and agents to secure the best deal.
- 6
Compare rates annually
Review insurance rates yearly. Regular price and coverage comparisons prevent overpaying.
How Much Renters Insurance Do I Need in Montana?
Montana law doesn't mandate renters insurance, but most landlords require at least $100K in liability coverage. Requirements may vary based on your rental history, credit score and pet ownership. When choosing a policy, consider the value of your belongings, local weather risks, neighborhood crime rates and pet ownership.
Use our calculator below to determine your ideal personal property limits so you know how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Montana Renter Risk Considerations
Here are the usual risks for renters in Montana, along with coverage options:
- Weather risks: Montana faces a high risk of earthquakes, wildfires and winter storms in certain areas. Standard coverage may not protect you in high-risk zones, requiring additional coverage.
- Crime risks: Montana ranks 21st for property crime and 39th for identity theft and fraud nationwide. Consider adding extra coverage to your renters policy for better protection against property damage.
- Pet ownership: Pet owners should consider pet liability coverage. Check if your provider's standard policy includes pet protection or requires an add-on.
- Property types: Standard policies might not fully cover specialized items like tools, electronics or rental property structures like pools. Look for insurers offering specific add-ons to protect these belongings.
How Does Renters Insurance Coverage Work?
Renters insurance typically covers damage to your property, liability to others and loss of use linked to your rental home. Make your policy more comprehensive by adding extra coverages. Here are some common types of renters insurance coverage:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Pays for damaged or stolen personal items in your rental, up to your policy limit. You receive the actual cash value (depreciated value) unless you have replacement cost coverage, which provides funds for new items. | |
Standard | Pays for medical and legal expenses if someone is injured in your rental. Many landlords require tenants to have this coverage. | |
Additional living expenses | Standard | Covers temporary housing costs, including meals, lodging and transportation, when you can't stay in your rental home. Benefits are typically based on a percentage of personal property limits or a set amount, depending on the insurer. |
Natural disasters | Add-on | Separate policies that cover personal property damage caused by earthquakes and floods |
Parts/Equipment | Add-on | Separate policies for tools, appliances and utilities in your rental |
Scheduled property | Add-on | Insures specific valuable items up to a predetermined amount |
Identity theft | Add-on | Protects financially against identity theft, covering stolen funds, legal expenses and monitoring services. |
Pet liability | Add-on | Covers injuries caused by your pet on your rental property, though standard policies may include this |
Modifications | Add-on | Covers custom additions and modifications not part of the original rental property |
Food loss | Add-on | Reimburses any food lost due to covered incidents |
Best Renters Insurance in Montana: Bottom Line
The best and cheapest overall renters insurance companies in Montana are State Farm and Chubb. While we recommend these options, you should research and compare multiple companies and quotes to get the best deal.
Renters Insurance in Montana: FAQ
Here are answers from our experts to common questions:
What is the cheapest renters insurance company in Montana?
State Farm offers the cheapest renters insurance in Montana, with an average annual premium of $165 or $14 per month.
What is the best renters insurance company in Montana?
State Farm and Chubb are Montana's best renters insurance companies, both scoring 95 out of 100 on the MoneyGeek scale. State Farm excels in affordability and customer service. Chubb offers strong coverage options.
How much does renters insurance cost in Montana?
The average cost of renters insurance in Montana is $263 per year or $22 per month, about 9% higher than the national average. Annual premiums range from $165 to $340.
Is renters insurance required in Montana?
Montana doesn't legally require renters insurance, but your landlord might ask for it. Consider your needs and situation to decide if a policy is right for you. Reasons to get renters insurance include financial protection from common risks and liability for third-party injuries.
How We Found the Best Cheap Renters Insurance Companies
To find the cheapest renters insurance in Montana, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
We used this to determine our affordability score for the state (60% of the score).
Other parts of our score included:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- American Red Cross. "Which Natural Disasters Should You Prepare For?." Accessed April 30, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 30, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 30, 2025.