Montana Insurance FAQs

• Q: What Affects Home Insurance Prices?
  A: There are many factors that may affect home insurance rates. The following are the most common: Types of Construction Frame houses usually cost more to insure that … More
• Q: Why Should I Buy Home Insurance?
  A: Owners should buy home insurance to protect both their home and their personal property. Tenants should buy home insurance to protect their furniture and personal … More
• Q: What Is The Difference Between Replacement Cost Vs. Actual Cash Value?
  A: Replacement Cost ­ is the amount it would take to replace or rebuild your home or repair damages with materials of similar kind and quality, without deducting for … More
• Q: What Is Private Mortgage Insurance?
  A: If you put less than 20% down when purchasing a house, many lenders require you to buy Private Mortgage Insurance (PMI) to cover the remainder of the 20% and to … More
• Q: What Is Credit Insurance?
  A: Credit life insurance pays in the event of the debtor's death. Credit accident & health (or disability) insurance covers loan payments due while the debtor is ill or … More
• Q: What Is The Montana Definition Of An Assignment?
  A: An assignment is the signed authorization by the policyholder for the insurance company to pay benefits directly to the hospital, doctor, or other provider.
• Q: What Is A Legal Service Representative?
  A: A legal service representative is an individual appointed to represent a legal service insurance corporation that has been authorized by MDOI to conduct a prepaid … More
• Q: How Long Does A Company Have To Settle A Claim?
  A: The UNFAIR CLAIMS SETTLEMENT PRACTICES ACT gives a company 30 days to investigate a claim, with some exceptions. The insurer should provide the necessary claim forms … More
• Q: Can The Company Refuse To Renew My Auto/Homeowners Policy?
  A: Yes, a company can refuse to renew a policy for almost any reason. An insurer must give you 30 days notice and the specific reason for their refusal to renew.
• Q: I Contacted My Company About A Loss To Determine If It Was Covered Under The Policy. I Never Collected A Penny From The Insurer. Can They Record This As A Claim?
  A: Yes, all claims made are considered part of the consumer's claims experience.
• Q: What Is Actual Cash Value (Acv) Vs. Replacement Cost Coverage?
  A: All Montana auto policies are written for ACV. Because of the generally large availability of used vehicles, auto settlement values are determined by similar vehicles … More

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