Home Insurance in Petroleum County, Montana
The median home value in Petroleum County is $201,400, 46% lower than the Montana median.
The typical home in Petroleum County was built around 1983. About 29% of homes were built before 1960, about 3 points above Montana's 26%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Petroleum County is 77% single-family homes and 21% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
35% of owner-occupied homes in Petroleum County carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Petroleum County has an owner-occupancy rate of 73% and a vacancy rate of 29%; unoccupied homes typically need a different coverage form.
Most homes in Petroleum County - 52% - are primarily heated with propane. Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA's National Risk Index lists wildfire (Relatively Low), winter weather (Very Low) and hail (Very Low) as the leading hazards for Petroleum County.
As of September 2026, Petroleum County has 1 active NFIP flood insurance policy. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
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 | $201,400 |
|---|---|
| Median year built | 1983 |
| Owner-occupied share | 73% |
| Share of owner-occupied homes with a mortgage | 35% |
| Top hazards (FEMA National Risk Index) | Wildfire (Relatively Low), Winter Weather (Very Low), Hail (Very Low) |
| Active NFIP flood policies (county) | 1 |
| Home insurance premium | $1,768 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)