Find the Cheapest Homeowners Insurance Quotes in Your Area
We collected more than 1,000 quotes from the state's largest insurers and found the cheapest homeowners insurance company in Montana charges an average annual premium of $1,613. We also compared providers' policy offerings and customer service to find the best homeowners insurance company for you. Continue reading our analysis of the state's top insurers, or use the secure quote box above this article to match with homeowners insurance providers in your area.
Best homeowners insurance for most people: Farmers
The best homeowners insurance company for most people in Montana is Farmers. Although most of its coverages aren't unique in the industry, its competitive prices make it stand out from the rest of the providers in the state. On average, protection from Farmers costs about $1,613 per year, which is the cheapest rate in Montana. You may be able to save more money on your premium if you have another Farmers policy or if you:
- Have a clean claims history
- Install a burglar or fire alarm that signals to local authorities
- Are a nonsmoker
- Own a home built less than 12 years ago
- Renovate your home's electrical, heating or plumbing systems
- Have a reinforced roof
You can upgrade your standard Farmers homeowners insurance policy by adding a few endorsements, including replacement cost coverage for your home's structure and contents. You may also add identity theft protection with Farmers's Identity Shield endorsement. For about $65 per year, you receive up to $28,500 for expenses related to recovering your stolen identity, like litigation fees, and case management resources.
Farmers also offers green home coverage with its eco-friendly endorsement. With this upgrade, you can receive up to $25,000 per year to be used for replacing your property with environmentally friendly materials after a partial or complete loss.
Best homeowners insurance for complete coverage: Travelers
If you're looking to maximize your protection, you should consider homeowners insurance from Travelers. This company's standard coverage typically costs around $2,100 per year, about 8% more expensive than Montana's average price. However, its endorsements are among the best offered in the Treasure State.
Travelers provides its policyholders with a variety of ways to personalize a standard policy. Along with adjusting the limits of your policy, you could also add:
- Replacement cost coverage for your home and its contents
- Expanded protection for valuable items
- Water and sewer backup coverage
- Green home coverage for up to 10% of your policy's total
You may also take advantage of Travelers's identity fraud protection endorsement, which is good for up to $25,000 in expense reimbursement. The insurer's identity fraud coverage improves on other competitors' similar offerings by including travel costs and lost wages as covered expenses, while also providing resolution services and access to a consumer fraud specialist.
Travelers enables you to save money on your homeowners insurance prices, too. You may receive discounts on your policy if you bundle your protection with another policy, if you have a new home or if you install protective devices on your property. You may also reduce your rates if you haven't suffered a loss over a period of time specified by your representative.
Best for high-value homes: Chubb
If you're someone who owns a high-value home, Chubb could be the best homeowners insurance company for protecting your property and assets. This company specializes in providing coverage to high-net-worth individuals by offering a number of special protections in its standard homeowners insurance package, the Masterpiece plan. Chubb's standard plan comes with a unique cash-out option for people who would rather get a payout after a loss instead of repairing the damage. With Chubb you also receive:
- Code and ordinance change protection
- Water and sewer backup coverage
- Personal liability of up to $100 million
- Risk consultation assessing your home's security
- Access to a network of highly rated contractors and service providers
Chubb is well-known for its customer service, too. The National Association of Insurance Commissioners (NAIC) tracks the amount of complaints providers in the industry receive from their customers. While the median complaints a company receives is represented by the NAIC as 1.0, Chubb's complaint index is only 0.03 — the best in this survey.
Best for military families: USAA
For active-duty or retired military service members and their families, USAA is a company to consider while shopping for homeowners insurance. The average price of coverage is about 6% more expensive than Montana's average at $2,064.
USAA's coverage offerings make it worthwhile, even despite its slightly higher-than-average price, a standard policy includes replacement cost coverage — usually only available as an endorsement with other providers. USAA's homeowners insurance also comes with $5,000 of identity theft coverage and protection for your uniform if it's lost or damaged at no additional cost to you.
If you purchase a policy from USAA, you'll get access to some of the most highly rated customer service among the companies we surveyed. USAA's complaint index is 0.15, meaning it receives less than one-fifth of the complaints as a similar-sized company. Also, this provider received a 5/5 rating on J.D. Power's claims satisfaction study, an assessment of the service provided by companies in the insurance industry.
Homeowners insurance companies with the best and worst customer service
To evaluate the quality of customer service of Montana's homeowners insurance companies, we checked each provider's place on the NAIC's complaint index. On this scale, a company with a rating of 1.0 has the expected amount of complaints for its size.
We found that Montana's homeowners were most satisfied with the coverage they received from Chubb, USAA and State Farm. However, State Farm's insurance rates were typically higher than the average statewide cost of coverage. No provider we surveyed had a complaint index that came close to the median of 1.0.
|Company||NAIC Value||JD Power||AM Best_ State Farm||0.20||4/5||A++|
Cheapest options for homeowners insurance in Montana
We found that the cheapest homeowners insurance company for most people in Montana is Farmers, while the most expensive company on average is State Farm. Although Chubb technically offers the cheapest rates in the state, its coverage is only marketed to high net worth individuals, while Farmers's homeowners insurance is available to more people.
The average cost of homeowners insurance in Montana is $1,939. This is more expensive than the typical nationwide cost of coverage, which we calculated to be $1,083. In fact, none of the ZIP codes we surveyed had an average cost cheaper than the national average.
Find the Cheapest Homeowners Insurance Quotes in Your Area
Most common homeowners insurance perils in Montana: hail and flooding
Due to their state's mountainous terrain in the west and its prairie in the east, Montana's homeowners can experience a variety of different perils that can affect their homes. Property owners can be impacted by hail storms and floods caused by melting mountain snows.
Understanding a policy's coverage limits is important when deciding your insurance provider. Being prepared for potential damages can also help you navigate the claims process after you experience a loss.
How much does insurance pay for hail damage?
Hail damage is typically covered by homeowners insurance policies, but your provider may only cover some repairs. Like other states that border the Great Plains region, Montana can see frequent hail storms. Data from the National Weather Service shows that Montana experienced more than 180 reported hail storms during 2018, the ninth most of all states.
Because of the frequency that Montana gets hail, some homeowners insurance policies may only allow you to make a claim if your damage is more than cosmetic. Additionally, you may see increased rates if you live in a part of the state that's especially prone to hail. However, it's not uncommon for companies to offer discounts on your policy if you reinforce your home's roof or windows against hail damage. It's best to speak with an insurance representative before settling on coverage.
Does homeowners insurance cover flooding?
Homeowners insurance policies don't usually cover damage done by flooding. Montana's mountainous regions in the western part of the state can see several hundred inches of snow per year. Unfortunately for homeowners living in this part of the state, heavy flooding caused by melting snow and ice can cause substantial property damage.
FEMA uses flood zones to designate which regions of the country are most at risk of experiencing flood damage. If you're in a region of Montana that is likely to be affected by post-winter flooding, it's a good idea to consider getting flood insurance. Since most homeowners insurance companies don't cover flood damage, you'll have to purchase a federally funded policy through the National Flood Insurance Program to receive protection.
Montana insurance rates: city-by-city breakdowns
While collecting data for our homeowners insurance company survey, we acquired the cost of homeowners insurance in each of Montana's most populated cities. The following table shows the cost of coverage for residents living in each of the state's 20 largest cities.
|City||Average||% from statewide average|
|Anaconda-Deer Lodge County||$1,548||-8%|
|Helena Valley West Central||$1,620||-4%|
|Helena Valley Southeast||$1,560||-8%|
The average cost of homeowners insurance in Billings tends to be over 40% more expensive than the statewide cost of coverage. The most expensive city for insurance in Montana is Laurel, while the cheapest are Evergreen and Kalispell. We've also calculated how much home insurance costs in other states.
This survey is comprised of estimates from six of Montana's largest homeowners insurance providers. We gathered quotes from every ZIP code in the state using a sample property built in 1977, the median year of construction for Montana's houses. For each quote, we insured the property for $231,000 to align with the median price of owner-occupied homes.
The data in our survey comes from:
- State Farm
Due to technical limitations, we were unable to include rates from the following companies in our survey:
- Liberty Mutual
- Mountain West Farm Bureau Mutual
- Farmers Union Mutual
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.