The cost of home repair is often far higher than you would expect. Worse yet, it happens when you least expect it. If a kid from the neighborhood accidentally throws a baseball through your front window, you are immediately stuck with the bill unless you have coverage.
Worse yet is the prospect of a major catastrophic event. Houses have been destroyed by hurricanes, earthquakes, and many other natural disasters that can strike seemingly at random.
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The Mental Benefits of Homeowners Insurance
Getting your home insured is not merely a smart thing to do for your future self. It also has benefits for your mental health in the present. There’s a lot of stress involved in worrying about something happening to your home.
Why go through your life with the fear of a catastrophic event damaging your home? You’ll feel much better when you know that, no matter what happens, your finances are covered. Even if your home becomes completely uninhabitable, you won’t have to worry so long as you get the right insurance policy.
How Much Does Homeowners Insurance Cost in Montana?Insurance costs vary widely depending on where you live and the value of your home. With that said, you can look at the average policy premiums for Montana to get a sense of how much you will need to spend.
The average Montana home insurance policy costs a yearly premium of $1,003. This is a bit lower than the nationwide average of $1,132. You should be able to find an affordable policy in the treasure state.
What Policy is Right For You?
There are different levels of coverage that you can pay for depending on your risk tolerance. The best plans are the ones that cover the cost of repair, regardless of how old the house was when it got damaged.
There is an important distinction between a Montana homeowners insurance policy that covers the cost of repair and one that pays based on the value of the home when it is damaged. In the latter case, you may end up receiving far less than what it will cost to fix your home.
For example, if your garage is destroyed by a fallen tree, you will need to pay for a brand new garage. However, if the house is decades old, its overall value will be much lower than the cost of repairs. You may only receive a small fraction of the total cost from your insurance company. It’s a better idea to get a policy that covers all repairs.
Be Safe and Get Insured
Don’t take undue risks with your home insurance. Play it safe and get the fullest coverage that you can afford. That is the best way to protect yourself and your family for many years to come.