Insurance Montana: A Guide to Auto & Home Coverage
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You always want to protect your assets and finances, and insurance is a great way to do that. Auto and home insurance protect two of your largest assets so you don’t incur significant financial losses from various perils and accidents.
However, understanding Montana insurance may feel overwhelming. To help you navigate the complex world of auto and home insurance, we created a complete guide to Montana insurance below.
Understanding Montana’s Auto Insurance Requirements
Montana car insurance helps protect you financially by covering any damages and medical bills a victim incurs if you’re responsible for a car accident. It’s also a legal requirement in Montana.
The minimum coverage amounts mandated by the state are:
- $25,000 in bodily injury liability coverage for one person per accident
- $50,000 in bodily injury liability coverage for two or more people per accident
- $20,000 in property damage liability coverage per accident
Although it's strongly recommended, uninsured and underinsured motorist coverage is not a requirement in Montana. However, the state does require all liability insurance policies to include it initially, but you have the right to refuse it.
Underinsured and uninsured motorist coverage covers you if you’re in an accident and the at-fault driver has no insurance or insufficient auto insurance coverage.
Review the insurance requirements of your state:
Optional Auto Insurance Coverage in Montana
Beyond the basic liability Montana car insurance, you have other optional insurance coverages to enhance your protection.
Some of the most common types include:
- Collision coverage: This pays for damages to your vehicle resulting from a collision, regardless of fault.
- Comprehensive coverage: This protects you financially from non-collision-related incidents, such as theft, vandalism, or flooding.
Key Considerations for Home Insurance in Montana
Homeowners insurance in Montana plays a big role in protecting your finances, as it covers what’s likely to be your most valuable asset — your home. Standard home insurance policies in Montana typically cover the following:
- Dwelling coverage for the structure of your home
- Personal property protection for belongings inside your home
- Liability coverage for accidents that occur on your property
When Montana residents choose a home insurance policy, they should also consider risks specific to the state, such as wildfires, floods, and even earthquakes. Not every insurance provider has the same coverage for these natural disasters, so you must read the terms of each policy you’re considering carefully to understand what it covers and what coverage options you may need to protect you from these excluded perils.
For example, if you live in an area prone to flooding, most standard homeowners insurance policies don’t cover this. In this case, you’ll want to make sure you get quotes that include optional flood insurance. The same would ring true for earthquakes.
Finding Affordable Insurance Policies in Montana
Finding cheap insurance in Montana requires a good bit of research and comparisons. However, a few quick tips can ease the entire process. These include:
- Comparing many quotes: Don’t stick to just one or two insurance quotes. Get as many as possible to gauge as much of the Montana insurance market as possible.
- Bundling policies: Many Montana insurance companies offer discounts if you combine auto and home insurance.
- Increasing deductibles: The higher your deductible, the lower your monthly premiums will typically be. Play with the deductible numbers to hit your sweet spot between an affordable premium and deductible.
- Maintaining a good credit score: Many insurance companies in Montana use your credit rating to help determine premiums. Maintaining a great credit rating can help lower your premiums.
Navigating Montana-Specific Insurance Regulations
Every state has its own rules and regulations governing the insurance market, and Montana is no exception. Understanding these regulations and staying current will help you select a new policy or renew an existing one.
These policies change fairly frequently, and you can stay updated by monitoring the Montana Commissioner of Securities and Insurance website.
How To Choose the Right Insurance Provider
Choosing the best insurance provider is more than finding your area's cheapest insurance company. Sure, price makes a difference, but you want to consider other factors, such as:
- Customer reviews: These can help you determine if an insurer is fair to its customers and easy to work with.
- Financial health: Knowing an insurer is in excellent financial health means you don’t have to worry about the company trying to deny your claim due to potential financial issues.
- Coverage options: You want to find an insurer that offers all the coverage options you need now and many others that may be helpful in the future. This will allow the policy to scale with you.
Resources for Comparing Quotes and Learning More
A big part of selecting Montana insurance is finding the best quote and gathering as much information as possible. Fortunately, you have plenty of avenues to do this, including:
- State regulatory bodies: The Montana Commissioner of Securities and Insurance website is a great place to stay current on insurance regulations.
- Local agents: Local insurance agents have boots on the ground in your area and can help you get the coverage you need based on your location. Plus, they can get great deals from a wide range of insurers.
- Online comparison tools: Many websites compare insurance quotes for you, saving you the hassle of visiting each provider’s site.
Secure Your Coverage Today: Affordable Montana Car Insurance
Securing cheap car insurance in Montana that still meets your coverage needs may seem challenging, but EverQuote is here to help. Our online comparison tool lets you compare multiple insurance quotes simultaneously.