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Insuring your Montana home costs an average of $2,104 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible, which is lower than the national average of $2,529.
Wildfires and wildlife intruders are top risks in Montana, and homeowners insurance usually covers them. Floods are the second-most-common disaster in Montana, but home insurance doesn’t cover flood damage, so you’ll need an extra policy.
You should always compare quotes from multiple insurers to find the cheapest coverage that meets your needs. Here’s what you need to know about Montana homeowners insurance.
Quick Facts
Insurify data in a homeowners insurance report shows a projected 12% increase in Montana homeowners insurance premiums for 2024, with a projected annual rate of $1,997.
Foremost, American Modern, and EMC Insurance have the best homeowners insurance premiums on average in Montana.
Montana property owners in areas prone to wildfires and flooding may struggle to find homeowners insurance coverage.
Best home insurance companies in Montana
The state of Montana has many quality home insurance companies, but the best one for you depends on your specific situation and needs.
Start your search for homeowners coverage with the insurers below.
Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Monthly Premium
Best For
Foremost
5.2
$99
Cheapest rates
American Modern Insurance
NR
$112
High-risk homes
Nationwide
8.4
$201
Customized coverage
Chubb
7.8
$69
High-value homes
Disclaimer: Table data sourced from real-time quotes from Insurify's 500+ partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
Customer satisfaction: To calculate this score, Insurify analyzed more than 55,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.
Cheapest rates: Foremost
Cheapest RatesForemost
Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
5.2/10
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$99/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$167/mo
With low annual premiums, Foremost offers some of Montana’s most affordable rates. You can customize your home insurance protection with a range of options, including extended replacement cost and guaranteed rebuild coverage, to increase your policy limits.
Foremost also provides flood insurance, which is crucial since over 25% of flood-damaged homes in Montana are in low- to moderate-risk areas of the state.[1] Given these options, Foremost is a solid choice if you want the best price without sacrificing coverage.
Pros
Fewer-than-average customer complaints filed with the National Association of Insurance Commissioners (NAIC)
Discounts available for mobile home insurance
Cons
Online quote requests take 2–3 business days
Customer service is limited to weekdays
Best insurer for high-risk homes: American Modern Insurance
High-Risk HomesAmerican Modern
Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
Not rated
American Modern Insurance is the go-to insurer for homes with greater risk. It offers coverage even if other insurance companies turn you away because your home is very old or you have a history of filing a lot of insurance claims.
The company offers open peril protection, covering damage unless the policy specifically excludes it. You can also choose replacement cost coverage, which doesn’t factor in depreciation when determining the value of items for a claims payout.
Pros
Insures homes regardless of age, location, or claims history
22 insurance agents throughout Montana offer personalized service
Cons
Quotes not available online
Higher-than-average number of complaints, according to the NAIC
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
641
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$201/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$284/mo
In business for more than 90 years, Nationwide is one of the nation’s largest insurance companies. Nationwide provides a wide range of insurance products, including homeowners, renters, condo, life, umbrella, motorcycle, RV, pet, and auto insurance. The insurer offers discounts for property and car insurance bundling, smart home technology, renovations to plumbing, heating, cooling, and electrical systems, and more. AM Best rates Nationwide A+ for financial stability, and the insurer has a lower-than-average number of homeowner complaints in the National Association of Insurance Commissioner’s (NAIC) Consumer Complaints Index.
Nationwide stands out with an extensive range of coverage options, including water backup coverage and new belongings coverage, which repairs or replaces your items no matter their age or condition.
The company’s basic homeowners policy includes ordinance and law coverage and protection against unauthorized credit card transactions. You can add flood insurance, umbrella insurance, and equipment breakdown coverage for even more protection.
As you can see, Nationwide is a great choice for Montana homeowners who want to tailor their policy to their specific needs.
Pros
Agents in 51 Montana cities
Fewer-than-average number of complaints filed with the NAIC
Cons
No mobile or manufactured home insurance
Optional coverages can drive up insurance premiums
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
7.8/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
688
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$69/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$103/mo
Chubb is the top choice for homeowners insurance if you own a high-value home, especially in Gallatin, Madison, Flathead, Missoula, and Park counties, where the median home value exceeded $400,000 in 2023. It might not have the lowest average cost of homeowners insurance, but you’ll get quality protection.
Chubb’s coverage includes HomeScan, which can find leaks, insulation gaps, and electrical issues before they become problems. You can also choose extended replacement cost coverage, which pays to rebuild or restore your home even if it costs more than your policy limits.
Pros
Generous coverage limits and policy options for high-value homes
Complimentary home appraisal services to ensure proper coverage
Cons
Only one location in Montana
Below-average J.D. Power customer satisfaction rating
Cheapest home insurance in Montana
Chubb offers the best value for cheap home insurance in Big Sky Country. Its average monthly home insurance premium is $69 — cheaper than the state average. But the cheapest option isn’t always the right choice. When shopping for a home insurance policy, consider a company’s financial stability, customer service, and coverage options.
As the data below shows, prices can vary quite a bit from one insurance company to the next. That’s why it’s important to compare your choices carefully.
The below rates are estimated rates current as of: Tuesday, August 19 at 12:00 PM PDT.
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Cost of homeowners insurance in Montana
The average Montana home insurance policy with $300,000 in dwelling coverage and a $1,000 deductible costs $2,104 yearly, but prices are on the rise. Insurify’s data science team predicts home insurance rates will increase by 6% nationwide, with Montana’s costs expected to surge by 12%.
A mix of factors determines how much you pay. Insurers consider your home’s age, size, and construction materials. The location of your home, your credit history, and your claim history also play an important role.
Cost of homeowners insurance by dwelling coverage amount
Dwelling coverage is the part of your policy that helps pay to repair or rebuild your home if a covered event damages or destroys it. You can directly influence your premium costs by choosing how much dwelling coverage you want.
Choosing a higher dwelling coverage limit gives you more financial protection if your home suffers significant damage, but increased protection comes at a higher price. As you’ll see in the table below, more coverage means your insurer assumes more risk, increasing your premiums.
See the average annual premiums for a policy with a $1,000 deductible by coverage limits below.
The below rates are estimated rates current as of: Tuesday, August 19 at 12:00 PM PDT.
A home insurance deductible is the amount of money you agree to pay out of your own pocket before your insurance company picks up the tab for a claim. In other words, it’s your share of the financial responsibility if you have a covered loss.
The amount you choose can make a big difference in your premiums. Generally, opting for a lower deductible shifts more of the potential financial burden to your insurance company, which means you’ll pay more in monthly premiums. A higher deductible can lower your homeowners insurance quote since you’re agreeing to take on a larger portion of the cost if you file a claim.
Here’s how much you might pay for coverage if your policy with $300,000 in dwelling coverage has a $500 deductible compared to a $1,000 deductible.
Deductible Amount
Average Annual Premium
$500
$2,315
$1,000
$2,104
Disclaimer: Table data sourced from real-time quotes from Insurify's 500+ partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
How to get cheap homeowners insurance in Montana
You don’t have to compromise coverage to save on your insurance premiums. With a few savvy strategies, you can secure the best homeowners insurance in Montana at a great price.
Here are a few of the most efficient options to cut your homeowners insurance cost without sacrificing the protection your home deserves.
Choose your location wisely when buying a home. Where you call home can have a big effect on your insurance rates. For example, the Billings Fire Department earned a high rating from the Insurance Services Office (ISO), placing it in the top 4% nationwide. Proximity to a highly ranked fire department could translate to lower homeowners premiums for Billings residents.[2]
Increase your deductible. Your deductible is the amount you agree to pay out of pocket before your insurance kicks in to cover a claim. A higher deductible can lead to lower monthly premiums. You’ll spend less up front but pay more if you file a claim. So, make sure you have enough savings stashed away to cover the cost.
Bundle your policies. If you’re already paying for auto insurance, consider bundling it with your homeowners policy. You could lower your premiums by 25% or more and have the convenience of managing your policies in one place.
Shop around to compare quotes. Take the time togather quotes from multiple insurance companiesand compare them side by side. Each insurance company has its own formula to calculate premiums, and the difference in cost might surprise you. Plus, some companies, like USAA, offer discounts for homeowners living in certain areas.[3]
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How much homeowners insurance do you need in Montana?
When you’re ready to buy a home in Montana, you’ll want to protect your investment with the right homeowners insurance policy. Your lender will insist on proof of insurance if you finance your house with a mortgage. But settling for bare-minimum coverage isn’t necessarily the best approach.
When determining the right amount of insurance for you, consider your home’s unique features, the value of your belongings, and your personal liability risks. Most importantly, understand the ins and outs of your policy to avoid surprises.
What are some of the biggest risks when owning a home in Montana?
You need to prepare for potential hazards in Montana. Wildfires are a significant natural disaster, with 90% of the state at risk and Missoula County facing the highest danger. Flooding is the second most-common disaster, and bears are another common risk.
Here’s how you can protect your home from these Montana threats.
Wildfires: Homeowners insurance typically coverswildfire damage. But finding and keeping coverage is getting harder for Montana homeowners. Due to increasing wildfire risk, some insurance companies are refusing to write new policies, not renewing existing coverage, and charging higher premiums.
Flooding: Homeowners insurance policies don’t protect against flood damage. Coverage is available as an add-on or stand-alone policy. To get flood insurance, contact your current insurance company or another private insurer. You can also buy a policy through the National Flood Insurance Program (NFIP).
Bears: Unsecured trash, fruit trees, and chickens can attract bears to your home, and grizzly and black bears often cause significant property damage. Luckily, homeowners insurance usually covers it. But a standard home insurance policy may not cover damage to swimming pools and hot tubs, and most coverage doesn’t include personal belongings, such as furniture.
Montana homeowners insurance FAQs
The following information can help answer your remaining questions about finding homeowners insurance in Montana.
How much is home insurance in Montana?
The average cost of a Montana homeowners insurance policy with $300,000 in dwelling coverage and a $1,000 deductible is $2,104 annually. How much you pay for coverage will depend on your dwelling coverage limits, deductible, ZIP code, and more. If you live in an area at high risk of flooding, you’ll need to pay for a separate flood insurance policy.
Which company has the cheapest homeowners insurance in Montana?
Chubb has the cheapest home insurance in Montana for a policy with $300,000 in dwelling coverage and a $1,000 deductible, with an average monthly premium of $69.
Does Montana require homeowners insurance?
No. Montana state law doesn’t require homeowners insurance. But your mortgage company likely will require you to purchase it if you have a mortgage on your home.
Even if you don’t need to meet lender requirements, it’s a good idea to have home insurance. The coverage can protect your home and personal belongings in the event of covered perils.
Methodology
Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Default Coverage Assumptions
Dwelling coverage: $300,000
Deductible: $1,000
Personal property limit: $25,000
Liability limit: $300,000
Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.
Amy is a personal finance and technology writer. With a background in the legal field and a bachelor's degree from Ferris State University, she has a talent for transforming complex topics into content that’s easy to understand. Connect with Amy on LinkedIn.
Amy has been a contributor at Insurify since September 2023.
3+ years experience in insurance and personal finance editing
NPN: 20564519
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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Foremost
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