Getting a Condo Insurance Quote in Montana
Many residents in Montana select the convenience of living in condos. Choosing the proper condo insurance from Montana can be confusing, so we're here to help you by minding a few key elements which you need to keep in mind while negotiating the final cost of your condo insurance so that you receive the right coverage for your needs at the right cost. There are lots of factors that will affect how expensive or inexpensive your annual condo insurance quote will be, so we've made it our goal is to help make the condo insurance purchasing process a cinch.
Montana Condo Insurance Statistics at a Glance
Given the various factors that affect the price of condo insurance, and taking into account that property values are on the rise, Montana condo insurance policies can be more on the expensive side. Montana is ranked the 9th most expensive state in the country for condo insurance. Montana residents pay an average of $135 per month or $1,618.00 annually in condo insurance premiums. Although Montanans are spending more on condo insurance, the fantastic news is that trends demonstrate that prices are becoming more affordable. Overall most cities in Montana have comparable average monthly prices, but Evergreen, MT was found to be the cheapest cities in $628.50 annually or $52.38 per month. On the flip side, Laurel, MT has the maximum condo insurance rates in the state at $1,329.00 annually or $110.75 per month. Different insurance companies have important differences in rates, so it's necessary to shop around if you're searching for condo insurance from Montana.
$595
Average Annual Cost of Condo Insurance in Montana
The average cost of condo insurance in Montana on an annual basis is $595.
$50
Average Monthly Cost of Condo Insurance in Montana
The cost of condo insurance in Montana is roughly $50 per month.
26%
Percentage of Income on Ownership for Condos in Montana
Residents of Montana spend an average of 26% of their income on condo ownership.
27 years
Median Age of a Property Which Requires Montana Condo Insurance
The average age of a property requiring condo insurance in Montana is roughly 27 years.
What Affects the Costs of Your Condo Insurance in Montana
There are a number of variables which cause condo insurance policies in Montana to vary from price . Insurance companies use many variables to compute your personal risk and coverage requirements, and to get you an accurate quote for your condo insurance policy coverage. However, there many factors outside your control that could affect the price of your condo insurance from Montana. Those factors could include things such as the positioning of your condo, the era of your condo in Montana, along with the construction quality of your condo. They may have the ability to see if you are eligible for discounts. Some factors within your control that could help or harm the final pricing of your Montana condo insurance prices could be variables such as your own credit history, your claims history along with other condo insurance suppliers, your driving record, the sum of personal belongings which you have in your condo, the people that live in your condo, and if you rent or own the condo. In order to acquire the best possible quotation, we highly recommend that you have a lot of this information ready prior to obtaining a condo insurance policy quote for your Montana property.
Average Cost of Condo Insurance in Montana by City
The most typical type of condo insurance from Montana is an HO6 insurance plan. Whether you're living the city life in Billings or Missoula or own a condo in a smaller city like Whitefish, you'll likely need H06 insurance on your condo in Montana. To give you an notion of how much it will cost to insure your condo, we've provided a complete collection of estimated condo insurance quotes to your Montana city. The following averages are based on all insurance costs for your individual city or town in Montana, so depending on where your condo is located in your area, your final price could differ radically than what's quoted below.
| City in Montana | Average Monthly Costs for Condo Insurance | Average Annual Costs for Condo Insurance |
|---|---|---|
| Billings, MT | $100 | $1,200 |
| Missoula, MT | $64 | $768 |
| Great Falls, MT | $75 | $902 |
| Bozeman, MT | $63 | $759 |
| Butte, MT | $68 | $810 |
| Helena, MT | $65 | $784 |
| Kalispell, MT | $52 | $629 |
| Havre, MT | $77 | $918 |
| Anaconda-Deer Lodge County, MT | $65 | $774 |
| Belgrade, MT | $60 | $717 |
| Helena Valley West Central, MT | $68 | $810 |
| Miles City, MT | $110 | $1,324 |
| Whitefish, MT | $53 | $640 |
| Livingston, MT | $70 | $837 |
| Evergreen, MT | $52 | $629 |
| Helena Valley Southeast, MT | $65 | $780 |
| Lockwood, MT | $98 | $1,175 |
| Laurel, MT | $111 | $1,329 |
| Sidney, MT | $90 | $1,084 |
| Lewistown, MT | $93 | $1,115 |
Choosing the Best Condo Insurance Company in Montana for Your Needs
Making sure that you set in time and effort to select the ideal condo insurance provider in Montana for your requirements will give you peace of mind in the long term. You're currently insuring yourself , your space, and your possessions spend that extra time to search which you can find. Don't short change your Montana condo and the properties inside it by settling for the most affordable one in the marketplace. The ideal thing to do is to shop around and compare several businesses prior to making final decisions and picking the ideal condo insurance provider in Montana to suit your requirements. Bear in mind that a company will not force you in making a decision quickly or pay for coverage which you simply don 't need. Look for condo insurance businesses which benefit their long term customers with discounts, loyalty benefits or also supply bundle insurance reductions. Be certain that your provider is licensed. Check the Montana Department of Insurance website to learn the licensing status, financial stability and complaint history of your chosen insurer.
The Top Rated Condo Insurance Companies in Montana Based off Consumer Ratings
The top spot is held by state Farm at being the biggest condo insurance provider in the United States for over 50 years. In Montana, a study done by JD Power showed that State Farm was scored a 4 out of a 5 (higher than the average) from the coverage offerings, charging and payment, customer support and claims. In Montana, State Farm also received a NAIC complaint ratio of 0.2. Like many condo insurance providers in Montana, they offer premium discounts on condos which were made or renovated to better withstand any natural disasters which may occur from The Treasure State. When considering pure metrics of condo insurance firms in Montana independently, USAA has the greatest JD Power rating in the state at 5 while Chubb has the lowest at 2. The condo insurance provider in Montana which has the lowest NAIC complaint ratio in Montana is Chubb in 0.03 while Farmers has the highest NAIC complaint ratio in 0.39.
| Montana Condo Insurer | JD Power Rating | NAIC Rating |
|---|---|---|
| State Farm Ratings for Condo Insurance in Montana | 4/5 | 0.2 |
| Farmers Ratings for Condo Insurance in Montana | 3/5 | 0.39 |
| USAA Ratings for Condo Insurance in Montana | 5/5 | 0.15 |
| Travelers Ratings for Condo Insurance in Montana | 2/5 | 0.3 |
| Allstate Ratings for Condo Insurance in Montana | 3/5 | 0.31 |
| Chubb Ratings for Condo Insurance in Montana | 2/5 | 0.03 |
Montana Condo Insurance Requirements
Beneath the Mississippi Condominium Law a condo unit owner in Montana is allowed to receive insurance for his or her own advantage, but is not required to do so. The Act states, that if in the time of reduction the device owner has an insurance policy that covers the risk as the association's coverage, then the associations' policy offer the primary insurance and will take precedence. Montana law demands condominium associations obtain insurance for the condominium building as a whole. However, condo unit owners may still need to consider purchasing insurance policies to insure their possessions, their accountability, any developments that they personally install, or any reduction or event not covered by the association's coverage.
What's Covered with Your Condo Insurance in Montana
While browsing for the condo insurance coverage, what you'll notice is that most condo insurance providers in Montana will offer standard coverage, which can consist of building property coverage, private property coverage, loss of use coverage and liability coverage. Building property coverage protects you financially out of damage to the inside of your condo (walls, floors, tiles) and reduction of permanent fixtures resulting from a covered event, such as fire. Personal property coverage protects your personal belongings, such as clothing, and furniture, electronics, which are lost due to a covered event. With liability coverage, if you are held accountable for injury or property damage liability coverage provides protection for you. Normally a condo insurance policy from Montana insures $100,000 in liability damages. With lack of use coverage: If your condo in Montana becomes uninhabitable and you need to live outside your condo due to a covered event and are paying more than you would live in your condo then this attribute will pay you for the higher living expenses.
| Average Costs of Condo Insurance in Montana by County | Average monthly condo insurance cost | Average annual homeowners insurance cost |
|---|---|---|
| Beaverhead County, MT | $48 | $575 |
| Big Horn County, MT | $67 | $809 |
| Blaine County, MT | $48 | $576 |
| Broadwater County, MT | $42 | $501 |
| Carbon County, MT | $54 | $653 |
| Carter County, MT | $93 | $1,111 |
| Cascade County, MT | $52 | $627 |
| Chouteau County, MT | $51 | $614 |
| Custer County, MT | $90 | $1,082 |
| Daniels County, MT | $61 | $728 |
| Dawson County, MT | $77 | $921 |
| Deer Lodge County, MT | $36 | $430 |
| Fallon County, MT | $97 | $1,166 |
| Fergus County, MT | $69 | $833 |
| Flathead County, MT | $35 | $424 |
| Gallatin County, MT | $42 | $503 |
| Garfield County, MT | $81 | $968 |
| Glacier County, MT | $42 | $508 |
| Golden Valley County, MT | $66 | $788 |
| Granite County, MT | $39 | $472 |
| Hill County, MT | $50 | $604 |
| Jefferson County, MT | $35 | $425 |
| Judith Basin County, MT | $66 | $790 |
| Lake County, MT | $46 | $548 |
| Lewis and Clark County, MT | $42 | $507 |
| Liberty County, MT | $62 | $749 |
| Lincoln County, MT | $38 | $458 |
| Madison County, MT | $39 | $469 |
| McCone County, MT | $81 | $967 |
| Meagher County, MT | $44 | $528 |
| Mineral County, MT | $47 | $563 |
| Missoula County, MT | $42 | $502 |
| Musselshell County, MT | $60 | $721 |
| Park County, MT | $45 | $545 |
| Petroleum County, MT | $58 | $694 |
| Phillips County, MT | $57 | $689 |
| Pondera County, MT | $47 | $566 |
| Powder River County, MT | $93 | $1,121 |
| Powell County, MT | $38 | $458 |
| Prairie County, MT | $101 | $1,217 |
| Ravalli County, MT | $46 | $555 |
| Richland County, MT | $65 | $782 |
| Roosevelt County, MT | $67 | $799 |
| Rosebud County, MT | $86 | $1,029 |
| Sanders County, MT | $48 | $575 |
| Sheridan County, MT | $64 | $774 |
| Silver Bow County, MT | $41 | $496 |
| Stillwater County, MT | $54 | $649 |
| Sweet Grass County, MT | $49 | $583 |
| Teton County, MT | $50 | $596 |
| Toole County, MT | $57 | $687 |
| Treasure County, MT | $81 | $966 |
| Valley County, MT | $75 | $898 |
| Wheatland County, MT | $57 | $681 |
| Wibaux County, MT | $81 | $974 |
| Yellowstone County, MT | $72 | $861 |
How to Get Montana Condo Insurance Discounts
Each insurance provider in Montana has its very own discount or dedication program. So be sure that while you're shopping around for a condo insurance quotation which you inquire about any discounts which may be available for you or your family . Normally, you will find many discounts offered on Montana condo insurance policies. Couple of the discounts you can request are bundled and multi-policy discounts, new customer discounts, loyalty discounts and paid-in-full discounts.
| Condo Insurance Deductible | Average Montana Condo Insurance Costs Based off Deductible |
|---|---|
| $500 | $164 |
| $1,000 | $151 |
| $1,500 | $145 |
| $2,000 | $136 |
| $5,000 | $117 |
Getting the Best Montana Condo Insurance Rates
Shopping around is critical to determining if sufficient savings are available for your Montana condo insurance policy. All you need to do is telephone us and determine if any other insurance companies can beat what you are paying. You might be surprised. You can also ask a friend to consult with their condo insurance policy provider which may produce a referral discount. It's possible to raise because the higher your deductible, the lower your cost of your insurance. However, ensure that your deductible is not too high because in case of a loss you are responsible for paying any sum up to the deductible. See if you're able to bundle many kinds of insurance policies along with your supplier as many carriers offer discounts to clients bundle insurance policies with them. As an instance, consult the supplier of your car insurance and see if they can decrease your premium if you buy condo insurance from them also. If you keep with the identical insurer for years they may offer reductions for clients. A few of these discounts can save you up to 10% on your premiums. Pay attention and make sure it stays high as insurance providers take that into account when deciding your condo insurance policy premium. Boost it or keep it high to find a reduced insurance premium.