Cheap Car Insurance in Missoula, MT
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Missoula, the “Hub of Five Valleys”, is located in the northwestern region of Montana. In the middle of the 19th century, Missoula was an important town for lumber milling and providing the newly-settled west with much-needed wood supplies. Presently, education and health care are the two biggest industries in all of Missoula.
- Fun Fact: It doesn’t take long to get around in Missoula because it’s #4 on the list of “Top 100 cities with shortest commuting times (pop. 50,000+)”. Uncover more about Missoula.
Auto Insurance Coverage Requirements in Montana
Driving legally in Missoula requires:
| Coverage | Requirements | Most Common |
| Bodily Injury Liability | 25,000/50,000 | 100,000/300,000 |
| Property Damage Liability | 10,000 | 50,000 |
| Uninsured Motorist Bodily Injury | Not required | 25,000/50,000 |
| Medical Payments | Not required | 5,000 |
| Collision | Not required | 500 deductible |
| Comprehensive | Not required | 250 deductible |
Just keep in mind that there is a very big difference between what a comprehensive insurance policy will cover, and what the legal bare minimum policy will pay out claims on. If you drive an older, used vehicle, the state minimum might be just fine for you. Newer cars, or vehicles you are still making payments on, will require more coverage.
It might sound crazy, but the state average for Montana auto insurance premiums is a whopping $168 each month! But don’t worry; parking your car in Missoula each night can get you some great discounts. There are drivers right now paying as little as $31/mo*. We’ll show you how to get a similar deal.
Any insurance bargain shoppers out there should know that Cal Casualty, National Farmers Union, and State Farm are currently offering some of the lowest rates in Missoula. But don’t be in such a hurry to switch providers. Do a little research, and find out important details like their customer service reputation first.
Insurance providers evaluate different elements when figuring out insurance prices, particularly gender, accident claims, occupation, education, and current insurance coverage and limits. Additionally, premiums will vary from one company to another. To find out if you’re still getting the best cost, evaluate cheap Missoula auto insurance price quotes on the web.
Major Car Insurance Factors in Missoula
Each time your car insurance provider prepares to come up with your plan, they take quite a few specifics into mind. A few of these, for instance your car’s make/model or your particular address, usually are not possible to change. Here are various other examples:
Your Zip Code
Where you store your vehicle each night will probably have a significant impact on your auto insurance rate. Generally, auto insurance is cheaper in outlying regions mainly because a lesser number of cars and trucks signifies a smaller likelihood that you’ll get in a wreck with some other vehicle. The population of Missoula is 69,122 and the common family income is $44,232.
Automotive Accidents
Serious accidents are frightfully common in Missoula, as you can see from the chart above. This makes insurance providers nervous – and a nervous provider is likely to raise rates. Contact your local agent and see if you qualify for any Safe Driver discounts to offset this.
Auto Thefts in Missoula
Auto thefts are on the rise in Missoula, with 131 stolen vehicles reported in 2013 alone. This is still fairly low per capita, but theft rates have been steadily climbing over the years. Having a passive anti-theft device on your vehicle can lower your insurance rates while also protecting you from theft. Additionally, Comprehensive coverage is the only type of insurance which will pay out on theft claims. So if you’re worried about theft, you should have it on your policy.
Your Credit Score
Having a spotless credit history can help you save more than 50% over drivers who have less than perfect credit. As you can see in the chart below, there are some serious rate hikes associated with having a poor credit score.
Your Age
The younger you are, the harder it is to find affordable insurance premiums. This is because teenage and young adult drivers have less driving experience, and are more likely to get into accidents because of it. However, if you are still in school, ask about any Driver’s Ed or Good Student discounts that your provider may have to offer.
Your Driving Record
Some companies in Montana are a little more forgiving when it comes to serious violations, such as DUIs. But all insurance providers will raise rates on drivers who have traffic violations on their record. For lesser offenses, like speeding tickets or minor accidents, you can ask your local agent about Accident Forgiveness discounts. It could save you between 25-30% or more.
Your Vehicle
The more coverage you need to purchase, and the higher the amounts, the more expensive your insurance rates will become. This is why luxury vehicle insurance is so expensive. In truth, you could risk it and only cover an expensive vehicle with a bare bones plan; but if anything happens to your vehicle, you’ll likely be paying for repairs or replacing it with your own money.
Minor Car Insurance Factors in Missoula
Don’t overlook these other important factors, though:
Your Marital Status
Have you ever heard of getting discounts from bundling insurance policies together? Married couples do it the most frequently, because it is easy for them to get discounted rates for carrying a joint policy with their insurance company.
Your Gender
Who’s the safer driver: men, or women? Well, according to most insurance companies, the answer is “neither, really”. This explains why more and more providers have stopped charging drastically different rates based on gender alone.
Your Driving Distance to Work
Commute times in Missoula are delightfully short, with the average trip only lasting between 12-17 minutes. Most drivers prefer to get around in their own vehicle alone (70%), while up to 12% are more likely to carpool. some commutes are even short enough to walk or ride a bicycle (14%).
Business vehicles are around 11-12% more expensive to insure, on average, than vehicles meant for personal use (driving to school, work, or somewhere fun). And despite what you may have been told, driving a dramatically higher or lower number of miles each year won’t alter your premiums by that much. At most, it ranges between 4-5%.
Your Coverage and Deductibles
Did you notice how, in a previous chart, having comprehensive coverage dramatically increased your monthly premiums? Well, one trick to help avoid the monthly rate hike is to raise your deductible instead. This will lower your premium, but you should probably put a little money aside in case you need to pay that higher deductible in the future.
Education in Missoula, MT
Missoula is a fairly well educated city, with a quarter of its population having achieved a bachelor’s degree. Another 21% have not yet gone beyond their high school diploma. But did you know that taking your education to the next level can help you save money on your auto insurance? More providers are starting to offer discounts to well-educated drivers each and every day (as opposed to discounts for having a fancy job, or an even fancier salary.
To an extent, Missoula is very much a college town. It is home to the University of Montana, which celebrated its centennial anniversary in 1993 and educates about 15,000 students each year. It provides bachelor’s degrees for 6 different colleges and 3 different schools. In the 1990’s, the university proudly affiliated itself with the Missoula Vocational Technical Center and renamed it the University of Montana College of Technology.
Locating reasonably priced car insurance might become a hassle. There’s lots of important information to look at, and figuring out just how insurance agencies assess your potential risk can be challenging. But don’t let the wrong insurance agency to convince you to sign up for an insufficient policy.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
Sources:
Montana Commissioner of Securities and Insurance
Montana Division of Banking and Financial Institutions
Department of Highway Safety and Motor Vehicles
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