On average, Montana renters insurance costs between $116 and $168 per year. You'll get coverage for personal property, loss of use, personal liability, and medical payments for anyone injured in your rental for that price.

Purchasing insurance may be the furthest thing from your mind when you sign the lease on your dream apartment. But one of the simplest and most economical methods to provide financial and legal security for any loss or disaster at home is by obtaining renters insurance.

The

home

and

car insurance

super app

Jerry

has put together everything you need to know about purchasing

renters insurance

in Montana. We'll explain how renters insurance works, how to create a policy, and how you can save money by combining your coverage with an auto policy.

What is renters insurance?

A renters insurance policy will protect you financially if your property is damaged, destroyed, or stolen, as well as provide personal liability coverage.

The following coverages are typically included in a renters insurance policy:

Property coverage (Coverage C): This insurance covers the actual cash value (ACV) or replacement cost of your belongings if they’re destroyed by a covered peril.

Loss of use coverage (Coverage D): This section of your policy, also known as extra living costs (ALE) coverage, covers living expenditures incurred as a result of property damage, such as a hotel room or food delivery.

Personal liability (Coverage E): If someone else is injured or their property is damaged in your home, your personal liability insurance will cover any legal costs, including court and attorney expenses.

Medical payments (Coverage F): When someone is injured on your property, this coverage compensates for their medical bills.

Make an inventory of your belongings, including furniture, electronics, and art, to determine the amount of property coverage you require. Your landlord will most likely establish the criteria for liability insurance, which is often $300,000 or $500,000.

What does renters insurance cover?

Renters insurance covers only the perils named in the policy. These may differ depending on where you live, but in general, your policy should cover the following:

Fire

Theft

Frozen plumbing

Windstorm

Hail

Lightning

Impact by a vehicle

Vandalism

Falling objects

Explosion

Your renters insurance policy may cover all of the above and more, or it may cover fewer named perils.

Be sure to read your policy carefully so you understand what’s covered. For example, if you live in Montana’s flood-prone areas (in Beaverhead and Gallatin counties, particularly), flood damage may not be included in your renters insurance policy. You’ll need to purchase special flood insurance to get full coverage for flood season.

What does renters insurance not cover?

Renters insurance covers a lot of things, but it doesn't cover everything in your house. Here are a few non-covered items to remember:

Work-related items: If you run a business out of your rental house (or simply work from home), your renters policy will not automatically cover you. Any business-related object, from your work laptop to your Cricut machine, may require additional coverage.

Valuables: Your engagement ring and limited-edition Funko Pops may not be covered by your standard renters policy. Expensive collectibles and jewels usually necessitate additional insurance.

Your car: Your car will not be protected by renters coverage even if it is parked on rental property. You must obtain

car insurance

that matches the minimum insurance requirements of your state.

MORE:

Montana car insurance laws—all you need to know

Let Jerry find your price in only 45 seconds

No spam · No long forms · No fees

Find insurance savings

Key Takeaway Renters insurance protects more than just your stuff; it also protects you from legal liability if an incident occurs on your property.

Is renters insurance required in Montana?

In Montana, renters insurance is not required by law. However, your landlord may ask you to obtain renters' insurance. Even if your landlord does not need it, renters insurance is a wise investment because it covers not just your property but also your legal liability if an accident occurs on your property.

The good news is that renters insurance is reasonably priced: although the cost changes from year to year, Montana renters insurance is less expensive than the national average of $173 per year. In other words, you should budget between $14 and $17 a month for a policy that could pay out thousands of dollars in the event of an accident.

Whether you're worried about theft or other named perils, getting renters insurance coverage is a smart financial move.

How to build a Montana renters insurance policy

Renters insurance is simple to set up. Begin by taking inventory of your personal belongings in each room of your home, including furniture, gadgets, artwork, and appliances:

Quantity

Purchase date

Purchase price

Brand number

Serial number (if available)

Take photographs of the objects. If you do need to file a claim, gathering this information and documenting the property will make the process go more smoothly.

Decide on a personal liability limit. Your landlord may need a particular level of liability insurance (usually $300,000 or $500,000), but you may be allowed to select a lower maximum, such as $100,000.

Check to see if flood damage is covered in your area. In some locations of Montana, separate flood insurance is required. If you reside in a flood-prone area in Montana, you may need to purchase flood insurance in addition to your renters insurance.

Actual cash value vs. replacement cost

You must decide whether you want coverage that covers the actual cash value (ACV) of your belongings at the time of loss or one that pays the replacement.

What’s the difference? Let’s say you bought a new TV 3 years ago for $1,500. One day, you experience a break-in and a number of your items are stolen, including this TV. If your renters policy only covers ACV, you can claim whatever the TV is worth based on depreciation—maybe 750. But if your policy covers replacement costs, you can claim the full $1,500 to buy a comparable replacement TV.

Obviously, the coverage with replacement cost is more appealing—but you'll pay more for it. Make an informed decision based on your needs and the danger in your area.

MORE:

What does actual cash value coverage mean on insurance?

How to find cheap renters and car insurance

Finding low-cost renters insurance is simple, but you may save even more by bundling it with your car insurance. Combining auto and renters insurance usually results in a 5% to 25% savings.

Renters insurance

is so inexpensive that if you spend $300 or more per month for auto insurance, you might be able to find a bundle that essentially pays for renters insurance!

To get the greatest possible deal on car insurance, download the

Jerry

app. Jerry will evaluate quotes from over 50 prominent insurance companies to get you the most cost-effective and best-in-class coverage. On average, Jerry customers save $887 a year on their car insurance premiums!

“
Jerry
was wonderful! I used it for my auto and renters policies. I trusted it so much that I signed up my homeowners insurance under Jerry as well. All of the agents are amazingly nice and knowledgeable.” —Mary Y.

RECOMMENDED

Never overpay for insurance again. Jerry’s AI notifies you when insurance prices drop.

New quotes when prices drop automatically

30 seconds to sign up

No phone calls or people bothering you

100% FREE

Put insurance shopping on auto-pilot NOW. Your wallet will thank you later!

Select the type of insurance:

Car

Car + Home

Car + Renters

FAQs

Is renters insurance worth it?

In the majority of cases, yes. Renters insurance is one of the most economical types of insurance because it covers both property damage and personal liability.

What is the average cost of renters insurance in Montana?

Renters insurance rates vary from year to year, but Montana's rates are typically slightly lower than the national average of $173 per year. Montana renters insurance coverage will cost you between $116 and $168 per year.

You could save 15% or more on renters insurance by bundling

Bundle your renters and auto insurance with Jerry and save!

Try Jerry