The best homeowners insurance in Montana is the one that fits your needs and budget. Whether you’re looking for the best discount opportunities, want to bundle your home and auto insurance together or build a comprehensive insurance plan, Reviews.com has got you covered. We’ve done the legwork of analyzing multiple data points from dozens of insurance companies, including rate data from Bankrate.com, to bring you our picks for the best home insurance companies in Montana.
The 4 Best Home Insurance Companies in Montana
- State Farm: Best for bundling with auto insurance
- Farmers Insurance: Best for new and renovated homes
- USAA: Best for military-centric coverage
- Allstate: Best variety of coverage options
Compare the Best Home Insurance Companies in Montana
To find the best home insurance in Montana, we started by analyzing 2021 quoted premium data from Bankrate.com, as well as each company’s policy offerings, discounts, customer satisfaction scores through J.D. Power and financial strength ratings through AM Best. Our research revealed that the top insurance providers in Montana are State Farm, Farmers Insurance, USAA and Allstate.
| Average Annual Premium for $250K in Dwelling Coverage* | AM Best Rating AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | J.D. Power Customer Satisfaction Score** J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|
| Pin State Farm | $2,079 | A++ | 835 | |
| Pin Farmers Insurance | $2,597 | A | 813 | |
| Pin USAA** | $1,178 | A++ | 882 | |
| Pin Allstate | $2,177 | A- | 829 |
Information accurate as of February 2022
*Premium data provided by Bankrate.com
**J.D. Power 2021 Home Insurance Study. USAA is not eligible for official ranking due to eligibility requirements.
State Farm
Best for Bundling With Auto Insurance
WHY WE CHOSE IT
Why we chose it
Pros
- Easy-to-use mobile app and access to a local agent make policy management easy
- Above-average financial strength rating from AM Best
- J.D. Power scores indicate a high measure of customer satisfaction
Cons
- Average premium is slightly higher than the average cost of home insurance in Montana
- Add-on coverage options may be more standard
- Discount opportunities may be limited
Other Policies Offered
- Life insurance
- Renters insurance
- Farm and ranch insurance
Standout Discounts Available
- Roofing discount
- Multiple policy discount
- Home security discount for qualified home monitoring systems
Farmers Insurance
Best for New and Renovated Homes
WHY WE CHOSE IT
Why we chose it
Pros
- Special add-on coverage options available to build a robust homeowners insurance policy
- Emphasis on using eco-friendly materials while rebuilding with its optional Eco-Rebuild coverage
- Large variety of insurance products to help build a comprehensive insurance plan
Cons
- Average annual premium is higher than the national average
- National Association of Insurance Commissioners (NAIC) complaint index of 2.03, double the average baseline of 1.0
- J.D. Power customer satisfaction score is below the average baseline of 825
Other Policies Offered
- Collectible car insurance
- Property insurance for all types of dwellings like mobile homes, vacant homes, condominiums and more
- Life insurance
Standout Discounts Available
- Claims-free discount
- Non-smoking discount
- Multiple policy discount
USAA
Best for Military-centric Coverage
WHY WE CHOSE IT
Why we chose it
Pros
- Outstanding customer service ratings from J.D. Power
- Policies tailored to military family needs
- Competitive pricing when compared to average rates
Cons
- Only available to current and former military members and their eligible family members
- Limited discounts
- In-person agency locations may be limited
Other Policies Offered
- Life insurance
- Landlord insurance
- Renters insurance
- Umbrella insurance
Standout Discounts Available
- Home and auto bundle
- Claims-free
- Home security system discount
Allstate
Best Variety of Coverage Options
WHY WE CHOSE IT
Why we chose it
Pros
- J.D. Power customer satisfaction score is above average
- Large network of in-person local agencies
- Mobile app accessibility for policy management and payment
Cons
- Average premium is slightly more expensive than the national average
- AM Best financial strength rating is not as high compared to other top insurance carriers we reviewed
- Discount opportunities may be limited
Other Policies Offered
- Motorcycle insurance
- Renters insurance
- Condominium insurance
Standout Discounts Available
- Multiple policy
- Claims-free
- Welcome & loyalty discount
Average Cost of Homeowners Insurance in Montana
In Montana, the average cost of homeowners insurance is $1,826 per year for $250,000 in dwelling coverage. This is higher than the national average cost of homeowners insurance, which is $1,312 per year for $250,000 in dwelling coverage, according to 2021 data from Bankrate.com.
Top 3 Cheapest Homeowners Insurance Companies in Montana
| Company | Average Annual Premium* |
| Chubb | $959 |
| EMC | $1,141 |
| USAA | $1,178 |
*Data from Bankrate.com for $250,000 in dwelling coverage.
Top 3 Most Expensive Homeowners Insurance Companies in Montana
| Company | Average Annual Premium |
| State Farm | $2,079 |
| Allstate | $2,177 |
| Farmers | $2,597 |
*Data from Bankrate.com for $250,000 in dwelling coverage.
Key Things to Know About Homeowners Insurance in Montana
Being familiar with the common types of loss in Montana can help when customizing your home insurance policy. Many insurance carriers offer coverage add-ons and offer to review your existing coverage annually to help you ensure your home insurance continues to provide adequate coverage. If you are looking for a new carrier, it’s a good idea to read customer service reviews and ask for opinions from family and friends to see if an insurance company is the right fit for you.
Home insurance coverage options
A home insurance policy comes with standard coverage types, like dwelling, personal property and liability. From there, you can choose to include other add-on coverage options to better protect your home. Depending on what your insurance company offers, this could include:
- Water damage: Water can cause serious damage to a home, but depending on the cause, it may or may not be covered by your home insurance policy. For example, heavy storms and rain may be insured in a standard home insurance policy but flooding, on the other hand, is not. Flood insurance needs to be purchased separately.
- Identity theft: Having your identity stolen can be a difficult experience, but this add-on coverage could provide some financial protection. Each insurance company may have different coverage options, which could include credit monitoring services, legal fees and financial reimbursement.
- Wildfire: Wildfires are a common cause of concern for homeowners in Montana. Luckily, it is a covered loss in most standard home insurance policies, but reviewing your home’s dwelling coverage annually can help check if it is enough to rebuild your home in the event of a total loss.
Frequently Asked Questions
Methodology
We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors:
- Customer Ratings: Customer satisfaction ratings are usually a good indication what your experience with a particular insurance company might be like. We measured this using 2021 J.D. Power Home Insurance Study ratings.
- Coverage: As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence: It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength ratings indicate a positive history of being able to pay out claims. We measured this using AM Best ratings.
- Customer Experience: The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the National Association of Insurance Companies Complaint Index.
Rates are based on quoted annual premiums from Bankrate.com. These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
