Cheapest Low-Income Car Insurance In Montana 2024

Thorough research has shown that State Farm provides the lowest-cost car insurance in Montana for low-income drivers.

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Written by Bob Phillips
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Finding budget-friendly car insurance in Montana can be difficult. Montana drivers with low incomes, defined as those making 50% or less of the median income in their area, often have the hardest time.

Montana residents, even those with lower incomes, can access affordable car insurance that meets state legal standards for operating a vehicle on public roadways.

With 15 years in the insurance industry and over 35 years buying car insurance, I’m well-versed in the different insurance companies and their strengths when it comes to helping Montana drivers.

Cheapest Low-Income Car Insurance In Montana, 2024

Cheapest Low-Income Car Insurance, Montana 2024

Compare Low-Income Car Insurance Companies In Montana

Overall Rating Best Suited For A.M. Best Rating J.D. Power Rating Average Monthly Cost* Get A Quote
State Farm
4.9

Cheapest Overall

A++

838

$72

Instant Quote
Nationwide
4.6

Seniors

A+

NR

$88

Instant Quote
GEICO
4.7

Poor Credit

A++

801

$212

Instant Quote
Scroll to see comparisons

Cheapest Low-Income Car Insurance Companies In Montana


Cheapest Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer reviews
9/10 Claim payouts
10/10 Coverage level

Why We Like Them

Despite the cutthroat nature of Montana’s car insurance scene, State Farm remains the most affordable alternative.

After conducting thorough research and evaluating Montana car insurance pricing, we can confirm that State Farm provides some of the most economical options for full coverage, beginning at $94 per month.

For drivers focused on their budget but still in need of comprehensive coverage, this advantage is quite beneficial.

State Farm isn’t just about affordable rates; it’s consistently recognized as one of the best car insurance companies overall. Its strength lies in its diverse discounts and coverage options tailored to meet a variety of needs.

State Farm’s competitive advantage in Montana’s car insurance market stems from its blend of affordability, flexibility, and comprehensive coverage, making it an attractive choice for drivers looking for both value and quality.

Getting affordable car insurance in Montana is important. It allows you to drive without fearing the financial consequences of potential damages or liabilities. Given Montana’s high accident rates on busy roads, having cost-effective insurance is even more crucial.

It’s vital to note that affordability in insurance doesn’t have to come at the expense of quality. With careful comparisons and informed choices, you can secure comprehensive coverage that suits your budget without financial pressure.

Benefits & Drawbacks

Benefits
  • Cheapest rates for most drivers in Montana
  • Numerous coverage options and discounts available
  • Superior AM Best financial strength rating
Drawbacks
  • Must buy from a State Farm Agent

Low-Income Car Insurance Rates In Montana

Insurance company Monthly Rate
State Farm $81
USAA $96
GEICO $130
Progressive $135
Allstate $145

Best for Poor Credit

Overall Rating
4.7

Key Statistics

9/10 Affordability
8/10 Customer reviews
9/10 Claim payouts
8/10 Coverage level

Why We Like Them

For Montana drivers with poor credit, GEICO stands out as the best and most affordable car insurance company. Reports and studies repeatedly show GEICO as the least expensive option for those struggling with low credit scores.

Even with its competitive rates, GEICO does not sacrifice quality or service. Known for comprehensive coverage options and excellent customer care, GEICO ensures strong protection for drivers with any credit score, making it a reliable option for Montana with poor credit.

In addition, GEICO understands that having a low credit score doesn’t necessarily make someone a high-risk driver. Unlike other insurers who might raise rates for poor credit, GEICO looks at a range of factors such as driving history and vehicle type.

This balanced evaluation helps GEICO offer competitive rates to drivers with poor credit, making it a top choice for many Montana.

Low income is frequently linked to poor credit scores, resulting in certain insurers charging twice as much for drivers with poor credit compared to those with excellent credit.

Shopping for insurers that offer discounts and maintaining a clean driving record can help drivers with poor credit keep their premiums affordable.

Benefits & Drawbacks

Benefits
  • Most affordable rates for drivers in Montana with poor credit
  • Wide array of coverage options and discounts available
  • Excellent financial strength rating from AM Best
Drawbacks
  • Digital tools are present but not as advanced as those of some competitors
  • Less availability of GEICO agents in Montana compared to many larger competitors

Low-Income Car Insurance Rates For Poor Credit

Insurance company Monthly Rate
GEICO $140
USAA $164
State Farm $224
Progressive $241
Allstate $265

Cheapest for Seniors

Overall Rating
4.6

Key Statistics

9/10 Affordability
8/10 Customer reviews
8/10 Claim payouts
9/10 Coverage level

Why We Like Them

Nationwide is recognized as the top and most affordable car insurance provider for seniors in Montana, with this backed by both industry research and positive customer reviews.

With rates specifically designed for senior drivers, Nationwide provides the most competitive pricing, making it the go-to choice for seniors who want robust coverage on a budget.

When drivers get older, they might experience an increase in their car insurance premiums. Insurance companies often think of older drivers as higher risk, in a similar way to young drivers.

This perceived risk is due to slower reaction times, possible health problems that could affect driving, and an increased likelihood of serious injuries in accidents.

Research from the Insurance Institute for Highway Safety (IIHS) indicates that starting at age 70, fatal crash rates rise significantly, peaking among those 85 and older.

As a consequence, older drivers may face higher premiums to cover the possible cost of claims.

Thankfully, many insurers offer discounts tailored to seniors, helping to lower costs and ensure affordable comprehensive coverage.

Benefits & Drawbacks

Benefits
  • Auto, homeowners, life, and other insurance products available
  • High financial strength ratings
  • Comprehensive mobile app for digital policy management
Drawbacks
  • Can only buy from Nationwide agents
  • Not rated by J.D. Power for customer service

Cheapest Low-Income Car Insurance Rates For Seniors

Insurance company Monthly Rate
Nationwide $35
State Farm $53
AAA $59
GEICO $71
USAA $90

Montana drivers are legally required to have car insurance for accident-related expenses. The minimum coverage policy must include at least:

  • $25,000 in bodily injury per person: This amount covers the medical expenses for one person injured in an accident you are responsible for.
  • $50,000 in bodily injury per accident: This is the most your insurer will pay out for all injuries combined if multiple people are hurt in an accident you cause.
  •  $20,000 in property damage liability: This covers the cost of any damage you cause to someone else’s property, such as their vehicle, in an accident.

While these are the minimum legal requirements, you should evaluate whether this coverage is adequate to protect you financially in an accident. If the expenses exceed your coverage, you might have to cover the difference. Hence, many drivers prefer higher coverage levels to ensure full protection.

Full Coverage Options

“Full coverage” isn’t a term formally used by insurance companies, but it generally means a combination of coverages providing extensive protection against different types of damage and loss. This typically comprises liability coverage (bodily injury and property damage), collision coverage, and comprehensive coverage.

If you cause injuries or property damage to others in an accident, liability coverage pays for those costs. Collision coverage kicks in when your car is damaged from hitting another vehicle or object.

Comprehensive coverage covers non-collision-related events like theft, vandalism, fire, or natural disasters. Essentially, full coverage insurance is a comprehensive package designed to offer peace of mind on and off the road.

Does Montana have a government-sponsored car insurance program for low income families?

Montana does not provide a government-sponsored car insurance program for low-income families, unlike some states. However, car insurance is mandatory for legally registering and operating your vehicle in the state.

Does income affect car insurance rates in Montana?

Contrary to popular assumptions, income does not directly influence car insurance rates in Montana. Insurance companies typically base their calculations on various factors, including age, location, driving record, vehicle type, and chosen coverage levels.

How to save on car insurance costs in Montana

Navigating Montana car insurance can be intimidating, but using smart strategies can help you cut down your premiums significantly. Here are three proven tips for Montana drivers to save on car insurance.

1. Compare Rates from Different Providers

An effective way to save money on car insurance is by comparing rates from different providers. These rates are determined by factors including age, driving history, location, and others.

Therefore, insurance rates can fluctuate significantly depending on the provider. Hence, it’s advisable to collect quotes from multiple insurers and select the one that meets your needs and budget the best.

2. Leverage Discounts

Insurance companies often present a variety of discounts aimed at lowering premiums. These discounts might involve safe driving habits, bundling insurance policies, maintaining good academic standing, or having safety equipment in your vehicle. Contact your insurer to inquire about discount options and check your eligibility.

3. Adjust Your Coverage and Deductibles

Another way to cut down on car insurance expenses is by adjusting your coverage and deductibles. If your vehicle is older, you might want to consider removing collision and comprehensive coverage if their cost surpasses the car’s value.

Another consideration is to raise your deductible, which can result in a lower premium. However, ensure that the deductible amount is something you can afford if you need to make a claim.

 

Our Methodology

Through a thorough examination involving customer service evaluations, product options, pricing details, and insights gathered from online reviews and user feedback, I've formulated a detailed assessment of car insurance providers. Drawing from over 15 years of industry experience as a licensed agent, extensive interactions with representatives from various companies, and firsthand purchasing encounters in Montana, this perspective is deeply informed and carefully honed.

88

Quotes Analyzed

36

Brands Reviewed

15+

Years of experience

25+

Research Hours

FAQs

How can low income families get affordable car insurance in Montana?  

Securing the best car insurance deal in Montana requires comparing quotes, exploring discounts, and shopping around among different providers.

What is the minimum amount of car insurance you have to carry in Montana?  

Montana law requires that all drivers carry a minimum level of auto insurance. This includes $25,000 coverage for each person’s bodily injury, $50,000 for bodily injuries per accident, and $20,000 for property damage.

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