CFA Calls for Comprehensive Study of Rising Property Insurance Costs in Montana

The Consumer Federation of America (CFA) has submitted a letter to the Montana Economic Affairs Interim Committee urging a comprehensive study into the rising property insurance costs across Montana. The requested study aims to analyze all segments of the state's property insurance market, including renters insurance, condominium insurance, and coverage for mobile and manufactured homes, rather than focusing solely on single-family homes. Additionally, the study should identify the underlying factors driving premium increases, such as the impact of climate change, and the resulting effects on insurer participation and policy renewals. The CFA also recommends exploring various strategies to mitigate premium hikes and improve insurance availability in Montana's market.