HomeInsuranceQts

Home Insurance in Montana

The median home value in Montana is $375,800.

Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Montana was built around 1981. About 26% of homes were built before 1960.

In Montana, the housing stock is 73% single-family homes, 10% apartments in buildings with 5+ units and 9% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.

In Montana, about 55% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.

The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 69% of occupied homes in Montana are owner-occupied.

Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Montana, 51% of homes are primarily heated with natural gas.

According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Montana carries a statewide average premium of $1,768 per year.

Key figures

Median home value$375,800
Median year built1981
Owner-occupied share69%
Share of owner-occupied homes with a mortgage55%
Home insurance premium$1,768 - statewide average (NAIC, 2023 data)

Counties

Sources