Renters Insurance Montana

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The average estimated cost of a rental insurance policy in Montana was $142 a year in 2013. Renters insurance is cheaper than most people realize; average homeowners insurance is $800 a year in Montana

Comparing Renters and Owners Insurance in 2013 in Montana

The landlord's policy is not going to cover renter's damages like burglary of renters possessions. There were 3894 burglaries are reported in Montana in 2012. So, to make sure you're protected from these events like fire, burglary or other disaster, you may need renters insurance.

Renters Insurance Coverage Types:

Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. An example of this is – a $6730 LCD TV might be worth only $3370 in six months and that is the amount the insurance pays for.

Replacement Coverage Policy in Montana:

  • Using the same example, the insurance may not necessarily pay for the laptop, however you will get sufficient amount to buy another LCD TV same as the lost/damaged one. The replacement cost insurance in Montana costs around $35.5 more than the actual cash value policy.
  • Considering the median rent of $780 per month in Montana, the average renters insurance of $10 per month is 1.28% of median monthly rent.

Estimated Renters Insurance for Different House Types in Montana

House Type Median Rent Estimated Renters Insurance
Condo $850 $153
Duplex $710 $127
One Bed $600 $108
Two Bed $780 $140
Three Bed $980 $176

Deductibles in Montana:

Choosing a $500 deductible over a $250 deductible in Montana can save average of $15.62 on insurance premium.