Montana First-Time Homebuyer Insurance Checklist

## Before You Make an Offer

☐ Confirm homeowners insurance is required by your lender
☐ Ask your real estate agent for the home’s age, roof age, and updates (electrical, plumbing, heating)
☐ Request prior claim history (CLUE report if available)
☐ Identify special exposures: wildfire zone, proximity to rivers/creeks, rural well/septic, outbuildings, or rental use

## Coverage Basics to Decide On

☐ Choose a dwelling limit based on estimated replacement cost to rebuild (not purchase price)
☐ Confirm coverage for other structures (fences, sheds, detached garages)
☐ Select personal property coverage limits
☐ Choose between actual cash value vs. replacement cost for belongings
☐ Review loss of use/additional living expense coverage limits
☐ Set personal liability limits ($300,000+ recommended; consider umbrella policy)

## Montana-Specific Risks & Add-Ons

☐ Evaluate wildfire, wind, hail, and winter storm exposure
☐ Confirm these perils are covered and check for separate deductibles
☐ Ask if flood insurance is recommended for your property location
☐ Review sewer/drain backup coverage options
☐ Consider service line coverage for utilities
☐ Review ordinance or law coverage (building code upgrades)
☐ Ask about equipment breakdown coverage for HVAC and systems
☐ Discuss higher limits or separate policies for jewelry, firearms, or collectibles

 

## Deductibles, Discounts & Cost

☐ Choose a deductible that balances premium savings with comfort level
☐ Note if wind/hail deductible is separate from all-peril deductible
☐ Ask about discounts:
☐ New roof
☐ Protective devices (smoke/CO detectors, monitored alarms)
☐ Bundling home and auto insurance
☐ Claim-free history
☐ Request annual premium estimate
☐ Confirm amount collected in escrow vs. paid upfront at closing

## Before Closing & Each Year After

☐ Provide lender with declarations page showing:
☐ Mortgagee clause
☐ Coverage amounts
☐ Effective date through first year
☐ Confirm correct named insureds and property address
☐ Verify loan information on policy
☐ Schedule annual review to adjust limits for:
☐ Inflation adjustments
☐ Home renovations
☐ New belongings
☐ Changes in wildfire/flood exposure