Best & Cheapest Homeowners Insurance in Montana April, 2024

In Montana, Nationwide provides the cheapest rates for homeowners insurance, with an average yearly cost of $1,246.

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Bob Phillips
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After thoroughly reviewing homeowners insurance options in Montana, we found that Nationwide stands out as the most affordable choice, offering an average annual rate of $1,246. However, it’s important to note that the best insurer depends on your individual situation.

For instance, if your credit score is low, Nationwide remains the most economical option, with an average yearly premium of $2,662. Conversely, if you own an older home, USAA offers competitive rates at $1,658 annually, along with comprehensive coverage.

On the flip side, if you have a newly built home, Allstate provides the most cost-effective solution at $1,025 per year. And for those with a history of claims, State Farm offers affordable coverage at $3,260 annually.

Our comprehensive analysis at Insuranceopedia aims to help you find the perfect fit for your homeowners insurance needs. By comparing customer ratings, evaluating personal experiences, and presenting comparison charts, we strive to provide you with all the information needed to make a well-informed decision.

How much is homeowners insurance in Montana?

Nationwide provides the most economical choice at $1,246 per year. Following closely behind are  State Farm and Allstate, with annual premiums of $1,396 and $1,668, respectively. Conversely, Travelers stands out with a considerably higher annual premium of $9,509.

As shown below, rates in Montana are higher than the national average.

Area Average Annual Rate
National $1,820
Montana $2,052

Recognizing that insurance rates aren’t stable and can vary significantly depending on several factors is essential.

For example, your individual driving record is crucial; a history marked by traffic violations or accidents often results in higher premiums compared to a clean record. Additionally, the type and make of your vehicle are significant factors, as high-performance or luxury cars usually incur higher insurance expenses.

Your location can also affect your rates, with densely populated urban areas typically experiencing higher premiums due to increased risks like theft or accidents. Furthermore, your age and marital status can also impact your car insurance premiums.

Best and Cheapest Homeowners Insurance in Montana

Cheapest Home Insurance, Montana, 2024

Our Methodology

To identify the most affordable home insurance rates in Montana, we meticulously examined data from various home insurance review platforms, including those that analyze rates sourced from public filings obtained by Quadrant Information Services. Our assessment combined an average of these rates for this evaluation. However, it's important to recognize that each company's rates fluctuate regularly and may differ based on your specific circumstances. Additionally, our overall rating incorporates a subjective viewpoint, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

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Quotes Analyzed

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Brands Reviewed

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Years Of Experience

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Research Hours

Cheapest Overall Home Insurance In Montana

Nationwide stands out as the most cost-effective choice for homeowners insurance in Montana, offering an average annual rate of $1,246.

Company Annual Premium
Nationwide $1,246
State Farm $1,396
Allstate $1,668
Farmers $1,872
Travelers $9,509

The cost of your policy is influenced by various factors such as your location, the value of your home, and your claims history. Nationwide provides a balanced combination of affordability and comprehensive coverage.

Cheapest home insurance If You Have Poor Credit

If you don’t have an excellent credit score, Nationwide offers the most affordable option, with an average annual rate of $2,662.

Insurance Company Average Annual Premium
Nationwide $2,662
Farmers $3,527
Allstate $4,445
State Farm $4,740
Travelers $29,450

Your credit score can have a significant impact on your insurance rates, as insurers use it to assess risk. Nationwide recognizes the importance of offering equitable coverage for everyone, regardless of their financial history.

Cheapest Home Insurance If You Have an Older Home

Homeowners with older homes can secure the most budget-friendly rates with USAA, averaging $1,658 per year.

Insurance Company Average Annual Premium
USAA $1,658
Farmers $1,896
Nationwide $2,155
State Farm $2,867
Allstate $2,914

Older homes often come with distinct risks and maintenance challenges, which can result in higher insurance expenses. USAA offers competitive rates and comprehensive coverage tailored to address the specific needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

For those who have recently purchased a newly constructed home, Allstate provides the most affordable option, with an average annual rate of $1,025.

Insurance Company Average Annual Premium
Allstate $1,025
Farmers $1,378
Chubb $1,478
State Farm $1,669
Travelers $3,484

Newly constructed homes often require specialized coverage compared to older properties, and Allstate excels in offering affordable policies tailored to meet these specific needs.

Cheapest Homeowners Insurance for a History of Claims

For homeowners who have a history of claims, State Farm provides an affordable solution, with an average annual rate of $3,260.

Insurance Company Average Annual Premium
State Farm $3,260
Nationwide $3,784
Allstate $5,073
Travelers $11,060

A history of claims can raise concerns for insurers, often leading to higher premiums. However, State Farm believes in offering second chances and provides reasonable rates for individuals with previous claims.

Best Homeowners Insurance Companies in Montana

Selecting the appropriate homeowners insurance isn’t merely a requirement; it’s a strategic choice. With a rich history and diverse cultural heritage, Montana’s homes mirror the uniqueness of its residents. Hence, identifying an insurance provider that offers comprehensive coverage at competitive rates becomes crucial.

To simplify your decision-making process, we’ve assembled a list of the leading homeowners insurance companies in Montana. These companies have been evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Delve into our comparison chart below to find the ideal match for your home insurance requirements.

Ranking Company Annual Premium
1 Nationwide $1,246
2 State Farm $1,396
3 Allstate $1,668
4 Chubb $1,264
5 USAA $1,657
6 Farmers $1,872
7 Travelers $9,509
8 Kemper $1,390

Average Home Insurance Rates in Montana by Deductible Amount

The chosen deductible amount for a homeowners insurance policy significantly influences premium rates in Montana. Below is a breakdown of how average home insurance rates vary among insurers for various deductible amounts:

Deductible Amount Average Annual Premium
$500 $1,977
$1,000 $1,820
$2,000 $1,648

Average Home Insurance Rates in Montana By Coverage Amount

One of the crucial factors that affect your premium is the dwelling coverage amount. This represents the maximum sum your insurance provider will pay to rebuild or repair your home if it suffers damage or destruction. Let’s analyze a comparison chart outlining the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $1,645
$250,000 $1,878
$300,000 $2,141
$350,000 $2,365
$400,000 $2,608

Average Home Insurance Rates in Montana by Company

Here’s a comparison table displaying annual premiums from some of the top providers in Montana:

Company Annual Premium
Nationwide $1,246
State Farm $1,396
Allstate $1,668
Chubb $1,264
USAA $1,657
Farmers $1,872
Travelers $9,509
Kemper $1,390

How Much is Homeowners Insurance for Other Cities in Montana?

Here’s a detailed comparison chart that highlights the cheapest companies and their annual premiums across various cities in Montana:

City Annual Premium
Helena $1,963
Billings $2,348
Great Falls $2,089
Belgrade $1,989

Getting Online Homeowners Insurance Quotes in Montana

With informative platforms like Insuranceopedia, finding the perfect coverage for your specific needs is just a few clicks away. By offering quick online quotes from a variety of top-rated insurers, Insuranceopedia allows you to compare rates effortlessly. Simply input your details, and we’ll handle the rest, presenting you with a range of options tailored to your requirements.

This approach empowers you to confidently select a policy that provides the best value, striking a balance between cost and comprehensive coverage.

FAQs

Who has the cheapest home insurance in Montana?

Nationwide offers the most budget-friendly home insurance option in Montana, with an annual premium of $1,246.

What is the average cost of home insurance in Montana?

On average, homeowners insurance in Montana costs around $2,052 per year.

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