In a presentation yesterday to the Montana Economic Affairs Interim Committee, the Consumer Federation of America urged the Legislature to conduct a thorough and helpful study on rising homeowners insurance costs in the state, and provided several recommendations on how to lower premiums for consumers.

Montana’s homeowners insurance costs have been rising, and our recent report found that from 2021 to 2024, average homeowners insurance premiums increased by 10%. In some counties, homeowners experienced price increases of 15%, 17%, or even 20%. CFA recommends the establishment a state-funded grant mitigation program to help consumers strengthen their homes against wildfires, and requiring that insurance companies give discounts to consumers who undertake these measures. Above all, Montana should gather a great deal of information on rising homeowners insurance costs and non-renewals of insurance policies, and make that information publicly available.