Montana Auto InsuranceMontana Auto Insurance Montana operates as a tort state with regard to its auto insurance laws and regulations. This means that every driver in the state must pay for personal and property damages caused by an accident if they are judged to be the party at fault. It also means that drivers in Montana may be held responsible for damages exceeding the amount of coverage they purchase, which is very important to remember when purchasing auto insurance. Montana Auto Insurance CostsIn a recent survey, Montana auto insurance ranked as the 36th most expensive in the country when compared to other states. The average annual Montana auto insurance premium was $674.22, with $380.55 being spent on liability, $241.95 on collision, and $231.82 on comprehensive coverage. Additionally, the average premium has risen significantly in recent years - 31.9% since 2000. In Montana, as in most other states, auto insurance carriers determine rates using a number of complex formulas. However, there are two main variables used to determine individual premiums - average costs for the entire state and individual attributes of the driver. The first category includes factors such as:
The individual risk factors used to determine rates may include:
Montana Coverage RequirementsAs a tort state, Montana auto insurance has standard liability coverage minimums. At the time of this writing, the liability minimums in Montana are 25/50/10. This means that the insurance coverage must pay at least $25,000 for injury to an individual person, $50,000 for all injury costs, and up to $10,000 for property damage in the event that a driver causes an accident. Montana auto insurance companies also offer optional coverage like collision, comprehensive, and uninsured motorist bodily injury protection. These are generally good options for people who drive new or expensive cars. They are also required in Montana if you finance your vehicle or if you're in a lease, however, these rules are set by the lien holder of the vehicle and not by the State of Montana. MT Auto Insurance CompaniesMontana auto insurance rates can vary by up to 40% from carrier to carrier, so you can usually save a lot of money if you compare premiums from multiple insurers. Some of the biggest and most highly-rated company's in the country offer coverage in Montana, including:
Get More InformationIf you would like to receive more information on Montana auto insurance, need to file a complaint, or require more specific legal specifications, contact the Montana State Auditor’s Office at the address list below.
Montana State Auditor |