Montana Renters Insurance

Montana Renters Insurance: The Basics

Living in Montana has many perks. From national parks to downtown Billings, Montana has a lot to offer. Residents enjoy the laid-back lifestyle, and visitors enjoy the beautiful landscapes.

For transplants or new residents, finding housing can prove to be a challenge, which is why rentals are a popular option. Additionally, for empty-nesters, retirees, or young adults, rentals offer the best of both worlds: adequate space, and perks like pools, fitness centers, and landscaping.

Unfortunately, many renters aren't aware that their belongings are most likely not covered by their landlord's insurance policy. This means that if an injury, crime, or disaster occurs, you will most likely be liable for the losses or damage. Renters insurance can help protect you from these losses, and help you get back on your feet.

Montana Rental Statistics

  • The average rent in Montana during 2012 was $680.
  • Renters face a 50% higher risk of crime.
  • 18.13% of income goes toward rent for the average MT renter.
  • 32.95% of MT residents are renters.

Whether you rent an apartment, home, or condo, a renters insurance policy can make the difference between a small bump in the road and a financial disaster.

What Is Renters Insurance?

Renters insurance is a set of policies put together specifically for renters to offer them coverage for the most common incidents that affect them. A typical renters insurance policy may include the following:

  • Renters liability insurance: We live in a litigious society. If someone is injured while in your rental, they may try to hold you responsible for their costs. This can help cover those costs or pay for your legal defense.
  • Renters property insurance: One important coverage is property insurance. This can help protect your personal items in case of damage from a disaster or crime.
  • Relocation assistance: If your rental is damaged and you're required to relocate, this coverage can help you find temporary housing until repairs are made.

Renters typically have at least $20,000 in assets, so it's a wise idea to have those assets protected with insurance.

How Much Will My Renters Insurance Quote Be in Montana?

When it comes to getting a renters insurance policy quote, whether online or in person, you'll need to know some basic information. Be prepared to provide the following:

  • Location of rental
  • Size of rental
  • Age of renters
  • Driving records of renters
  • Credit report of renters
  • Value of assets
  • If there are pets in the rental
  • If there will be smokers in the rental
  • Desired coverages
  • Desired deductible

These factors, plus many more, will be used to give you a renters insurance policy quote.

Can I Get a Discount on Renters Insurance?

Typically, many discounts are available on renters insurance policies. Be sure to ask your agent about:

  • Multi-policy discount
  • Paid-in-full discount
  • Good credit discount
  • Claims free discount
  • Professional/industrial affiliation discount
  • New customer discount
  • Loyal customer discount

Each insurance company offers  different discounts, so be sure to ask about any discounts you may not be aware of.

Get Covered With the Best Renters Insurance in MT

When it comes to protecting yourself and your assets with renters insurance, it's important to get the right coverage at the best price for your individual situation. A Trusted Choice® agent is always available to help you find coverages, suggest discounts and policy modifications, or even help you file a claim.

Now, who's ready to get their insurance problems solved?