Home Insurance in Billings
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Free Your Mind From Worry With Home Insurance in Billings
Montana is known as Big Sky Country, partially because of the low population density of 6.86 people for every square mile of land. Of course, the picture looks a little different in Billings. With a population of approximately 117,000 in 2020, Billings is the largest city in the state. This means big-city amenities in a small-town atmosphere, but it also means increased risks for homeowners.
Billings' natural beauty is what attracts many people to the city. The Yellowstone River flowing through its center and its proximity to Yellowstone National Park draw many outdoor enthusiasts to settle here permanently. However, rugged beauty can also mean a harsh climate. If you live in Billings, your home may be at risk from heat, floods and wildfires.
While Montana has a pretty low crime rate, Billings' crime rate is higher, partially because of its relatively larger population. There are 45.07 property crimes annually for every 1,000 Billings residents. You need good home insurance to help protect your valuable property.
Why Do You Need Home Insurance in Billings?
If you own a home in Billings, you aren't alone. According to the United States Census Bureau. 64.5% of all Billings residents own their own homes, which is well over half.
The median home value in Billings is approximately $336,000. While this is average for Montana, it is high compared to the rest of the country. This represents a huge investment, and home insurance helps you to recoup your losses in the event of damage to or total destruction of your home.
As a homeowner in Billings, some of the biggest risks to your home include the following:
- Fire
- Flood
- Property crimes
Fire and Flood
Over the next 30 years, Billings has a major risk of wildfires. Over 45,000 properties could be impacted, which represents 93% of all properties in Billings.
Multiple factors contribute to the major wildfire risk in Billings:
- Weather
- Topography
- Ignition sources, e.g., lightning
- Fuel sources, e.g., vegetation
High temperatures decrease humidity and create conditions under which fires can spread more easily. On a yearly basis, Billings has approximately 90 days over 80 degrees and 27 days over 90 degrees, statistics that are likely to increase. Fortunately, home insurance in Billings typically covers fires.
Over 3,000 properties in Billings, 16% of all properties, have at least a 26% chance of severe damage due to flooding. Home insurance typically doesn't cover flooding, but if your home is in a high-risk area, you may want to consider purchasing additional flood coverage for your home insurance policy.
Burglary, Vandalism and Theft
On a yearly basis, there are 3,635 thefts of Billings homes and 625 burglaries. Vandalism is another property crime that could affect your home's value; there are about 266 reports of vandalism in central Billings per year. Home insurance typically covers damage to your home from property crimes.
How Can VIU by HUB Help You Save?
In Billings, homeowners pay an average of $2,338 per year on home insurance, which is higher than both the state average for Montana and the national average for the United States. However, different insurers offer various rates, so shopping around can help you save.
VIU by HUB makes it easy to compare home insurance rates to find the best price. All you do is answer a few questions on the website about yourself, your home and the types of coverage you're interested in (e.g., flood insurance). In a matter of moments, you have side-by-side quotes from multiple home insurance carriers so you can easily find the best price on home insurance in Billings.
This information is intended for general informational purposes only and is not intended to constitute legal advice.