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Find the Best Homeowners Insurance in Billings, MT

Whether you have a condo in downtown Billings or a ranch house in Shepherd, finding an affordable homeowners insurance policy with the right coverage requires research. The Billings Gazette has partnered with ConsumerAffairs to create this guide by comparing national ratings and local customer reviews of 34 businesses and choosing five favorites from the top home insurance companies in Billings.

Companies pay ConsumerAffairs to be accredited, and the Billings Gazette and/or ConsumerAffairs may receive compensation when you click a link, call a number or fill out a form on this site.

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What to know about homeowners insurance in Billings

billings skyline

Simply having homeowners insurance does not mean you’re covered from any and all damage that happens to your house and personal belongings. Basic policies include property coverage and liability coverage. It’s important to choose the coverage you need with the appropriate limits.

What homeowners insurance covers

Homeowners insurance covers your physical home through dwelling coverage and other structures coverage and your belongings through personal property coverage against events (called “perils”) such as fire and theft. Other perils homeowners insurance policies protect against include:

  • Lightning strikes
  • Windstorms
  • Smoke damage
  • Hail
  • Vandalism
  • Falling objects
  • Weight of ice or snow
  • Water damage

If you can't inhabit your home because of damage from a peril, you can benefit from additional living expenses coverage, which covers extra living costs, like temporary lodging at a hotel.

Homeowners insurance in Billings also has liability coverage, which covers you if another person makes a claim against you or sues you after being injured on your property or you damage their property. Medical payments coverage pays for medical expenses of someone accidentally injured on your property.

What homeowners insurance doesn’t cover

Standard homeowners insurance policies don’t cover floods, earthquakes and other earth movements, acts of war or nuclear accidents. They also don’t cover damage as a result of negligence, breakdowns due to wear and tear or pest infestations.

As you research different policies, be sure to ask detailed questions about what is and is not covered so you can avoid expensive surprises. Pay attention to whether the policy is a broad-form policy, which specifically names the perils you are protected against; a special-form policy, which lists excluded perils for dwelling coverage and names perils for personal property coverage; or a comprehensive-form policy, which lists only exclusions for dwelling coverage and personal property coverage.

Average home insurance costs in Billings

The average cost of home insurance in Billings on a 30-year-old home with dwelling coverage of about $300,000 and personal liability coverage of $100,000 is about $2,170 per year, or $181 per month, according to the 2020 Rate Comparison Guide from the Office of the Montana State Auditor, Commissioner of Securities and Insurance.

Many factors affect the price of home insurance in Billings. These factors include, but are not limited to:

  • Where in Billings you live
  • The age of your home, the type of construction and the square footage
  • Your insurance history, including claims history
  • The types and amounts of coverage you purchase
  • The deductible

Rates for similar policies can vary by hundreds of dollars from insurer to insurer, so get quotes from multiple companies before choosing a policy. Besides the cost of coverage, you should also consider customer service, financial stability and available discounts.

How to save on homeowners insurance in Billings

There are various ways to save on homeowners insurance in Billings:

  • Shop around for as many quotes as possible; prices for similar coverage can vary significantly from company to company.
  • Increase your deductible.
  • Ask about discounts; homeowners insurance companies in Montana offer discounts for bundling home insurance with auto insurance, having devices like smoke detectors or alarm systems, being claims-free, setting up automatic payments, being a new homeowner, switching from another provider, using certain roofing materials or being a senior.

Billings homeowners insurance FAQ

How are homeowners insurance companies regulated in Billings?

The Office of the Montana State Auditor regulates the insurance industry in Billings and throughout Montana. It reviews policies to make sure they comply with state law before they can be sold to homeowners.

What are the different types of homeowners insurance?

The types of homeowners insurance in Montana include basic form coverage, broad-form coverage, special-form coverage and comprehensive-form coverage. These coverages differ mainly in whether they name specific perils or excluded perils for dwelling and personal property coverage.

What do I need to get homeowners insurance online?

Before signing up for homeowners insurance, you should know specific details about your home, including the address, replacement cost, square footage, when it was built and the construction type; have an idea about the type of coverages you want and the coverage amounts; and be ready to provide your personal information, including your birth date and Social Security number.

How much homeowners insurance should I have?

It’s important to have enough dwelling coverage to rebuild your home with similar construction materials at today’s prices. The amount of personal property coverage is usually calculated as a percentage of dwelling coverage; do a home inventory to find out if this amount is enough and whether you want actual cash value coverage or replacement value coverage, and if you need scheduled personal property coverage to cover high-value items. You also want enough liability coverage to protect your assets; policies usually have at least $100,000 of coverage.

Can you change homeowners insurance at any time?

Yes, you can change homeowners insurance at any time. Keep in mind your insurance company may charge a penalty for canceling before the policy expires. If you do decide to change providers, let your new coverage start before canceling the old policy. You may also need to let your mortgage lender know if you switch homeowners insurance in Billings.

How are homeowners insurance claims paid?

Homeowners insurance claims are paid either to the homeowner, the homeowner and the mortgage lender, or directly to the contractor making repairs to the home.

Do you have to have homeowners insurance in Montana?

If you are financing your home, the lender will usually require you to purchase insurance to protect its financial interest.

Billings home insurance company information

Liberty Mutual

Liberty Mutual is one of the largest property and casualty insurers in the world. The company helps customers customize coverage according to their needs. Policyholders can report a claim online, over the phone or using the Liberty Mutual app and even complete an estimate over video chat. Multiple discounts are available.

Liberty Mutual

Nationwide

Homeowners insurance from Nationwide includes basic coverages for your dwelling, contents, liability, other structures and additional living expenses. Billings residents have the option to purchase add-on coverage for floods, jewelry and identity theft. The company offers discounts for bundling home insurance with auto insurance, being claims-free and having smoke detectors. Nationwide also provides a free annual insurance review.

Nationwide

Farmers Homeowners Insurance

Farmers has customers in over 10 million households across all 50 states. Billings customers can use the Farmers Smart Plan Home policy, featuring three customizable packages, as a starting point. Each policy comes with Declining Deductibles and claim forgiveness features. Get a quote, view policy documents and make claims using the Farmers app.

Farmers Homeowners Insurance

Insurance Agency of Montana

The Insurance Agency of Montana is a full-service, independent insurance agency with over 30 years of experience. It shops hundreds of carriers to find the right homeowners insurance for Billings homeowners. Customers can get a quote over the phone or in person. Insurance Agency of Montana is located at 2680 Overland Ave., Ste. C, Billings, MT 59102.

Insurance Agency of Montana

Beard Insurance Agency

Beard Insurance Agency, in business since 1985, gives one-on-one education and advice for choosing a homeowners insurance policy in Billings. It shops various carriers to find coverage that meets customers’ needs and budgets. Fill out an online form or call to get the quote process started. Beard Insurance Agency has offices in Billings and Worden. The Billings address is 1601 Lewis Ave., Ste. 104A, Billings, MT 59102.

Beard Insurance Agency