Montana Now Has Some Of The Fastest Rising Homeowners Insurance

Homeowners Insurance Is Skyrocketing In Montana

The other day, a co-worker of mine came to me and said to check my homeowners insurance.

We both used the same company to insure our homes and cars, and hers practically doubled from 2023 to 2024.

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Montana Ranks 5th For Fastest Rising Homeowners Insurance

It turns out she is not the only person noticing the cost of her homeowners insurance going up, as it's happening to millions across the nation.

Currently, as it stands, Montana has the 5th highest and fastest homeowner insurance increase in America from one year to the next.

According to Newsweek, homeowners can expect to see their rates rise by 12%, or almost an extra $2,000 a year.

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It's Not Just Insurance Increasing In Montana

People have a right to be concerned about the rising costs of not just their homeowners insurance but also their property taxes as well.

A recent article from Business Insider showed how our older residents, who are living on a fixed income, are struggling to afford the costs of their home. While the cost of insurance and property taxes continues to rise, their income remains flat.

While a very divisive subject, climate change is one reason for the increase in insurance.

Thanks to wildfires in Montana or the hurricanes in Florida, insurance companies have been paying out a lot more, so to recoup their losses, they've increased prices for everyone.

I suggest everyone take my co-workers advice and check your insurance plan and maybe get a few quotes, as she was thankfully able to find a new insurance company with a price closer to what she was paying last year.