Best and Cheapest Renters Insurance in Montana for 2024
The need for purchasing renters insurance is commonly misunderstood. Renters insurance helps you recover from a loss in your apartment. While your landlord will have insurance to cover the building you are renting, that insurance won’t cover your personal belongings. But a renters insurance policy does! Additionally, a renters insurance policy usually provides you with liability coverage.
So if you want to ensure you’re properly covered while renting, it’s important to find one of the best Montana renters insurance companies. But where do you start? In the table above, you can sort through all the renters insurance companies ranked on Clearsurance. The rating next to each company — the insurer’s Clearsurance score — is based exclusively on the thousands of ratings provided by customers. Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best Montana renters insurance rankings.
Interested in learning more about one of the companies on the list of the best renters insurance companies in Montana? You can visit the company’s profile page to find more information about the company and read reviews to learn from the experiences of other policyholders.
On this page:
- Montana renters insurance rates
- Renters insurance for Montana college students
- Montana property crime statistics
Montana renters insurance rates
While Montana renters insurance rates depend on factors specific to you and your apartment, such as your age or where your apartment is located, rates also depend on the company you choose. Some companies may offer renters insurance in Montana for a cheaper rate than others. In the table below, you can see average Montana renters insurance rates from some of the largest companies in the state.
| Company | Average renters insurance rates |
|---|---|
| USAA* | $113.96 |
| State Farm | $115.00 |
| Allstate | $117.40 |
| Travelers | $125.00 |
| Farmers | $169.44 |
| Foremost | $215.00 |
*USAA is only available to former and active military members and their families.
These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in Montana will differ. Rate data is provided by Quadrant Information Services.
Renters insurance for Montana college students
If Montana is your destination for college, you may end up renting an off-campus apartment while getting your degree. There are a few things for college students renting housing in Montana to consider in order to protect their personal belongings.
Typically, college students who live in dorms located on the college campus are covered by their parents homeowners insurance policy. That’s usually only the case for students who live on campus, though. College students in Montana who rent apartments off campus should consider a renters insurance policy because their items won’t be covered under their parents’ policy, and without a renters insurance policy, they won’t have any protection.
College students will most likely have roommates in the apartment they rent. It’s not advised that students share renters insurance policies with roommates. Rather, each student should have their own renters insurance policy to protect their own belongings.
Montana property crime statistics
Theft and vandalism or malicious mischief are among the 16 perils a standard renters insurance policy protects you from. So, how does crime in Montana compare to other states around the country? The FBI published the following statistics on crime in Montana for 2016:
- Property crime - 27,976
- Burglary - 3,934
- Larceny theft - 21,299
When compared to the national average rate per 100,000 inhabitants, property crime and larceny theft in Montana rank above the national average but burglary ranks below.
How to save money on your renters insurance in Montana
While renters insurance may be more affordable than other types of insurance, no one wants to pay more than they have to. So what are the different ways that you can lower your Montana renters insurance premium and have some extra spending money?
Here are the top 5 ways to save on your renters insurance:
- Raise your deductible
- Ask about potential discounts
- Bundle your policies
- Determine the value of your personal property
- Pay in full by check
How Clearsurance rates and ranks the best renters insurance companies in Montana
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Price
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Renters insurance guide
As we mentioned above, there’s common misconceptions regarding what is and isn’t covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in Montana, it’s important to understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property. Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your expenses as you find temporary housing.
We want to make sure you’re equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.