Montana Code Annotated Title 33 Chapter 24

What this document is

Montana Code Annotated Title 33 Chapter 24 - Property Insurance (33-24-101 through 33-24-409) is a state statute published by Montana Legislative Services Division (mca.legmt.gov). It is one of the Montana documents that insurance license exam questions are written from, including montana property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Mont. Code Ann. Sec. 33-24-101 (Measure of the indemnity, rescission for fraud)

  “If there is no valuation in the policy and unless a basis more favorable to the insured is provided for in the policy, the measure of indemnity in an insurance against fire is the expense, at the time that the loss is payable, of replacing the thing lost or injured, in the condition in which it was...”

• Mont. Code Ann. Sec. 33-24-102 (Insuring improvements, insurance equal to true value)

  “Whenever any policy of insurance is written to insure any improvements upon real property in this state against loss or damage and the property insured is considered to be a total loss, without criminal fault on the part of the insured or the insured's assigns, the amount of insurance written in...”

• Mont. Code Ann. Sec. 33-24-103(2) (Specific valuation, loss equal to insured value)

  “If the insurer places specific valuations upon particular items of covered property and bases the premium charge on these valuations, then the insurer shall compute any total loss or total damage to the property, when covered, at the stated valuation with no deductions or offsets except for the...”

• Mont. Code Ann. Sec. 33-24-110(2) (Risk preventative measures for homeowners, premium reduction, fire, wind, and hail)

  “An insurer who provides a benefit or premium reduction as provided in this section must include the benefit or premium reduction in writing to the policyholder. A benefit or premium reduction provided by an insurer under this section does not constitute an illegal rebate under 33-18-210.”

• Mont. Code Ann. Sec. 33-24-110(1)(a)(iv) (Risk preventative measures for homeowners, fire preventative measures)

  “keeping a border of at least 5 feet of nonflammable landscaping around the insured property;”

• Mont. Code Ann. Sec. 33-24-404(2)(b) (Disclosures, right to examine and return the policy)

  “Unless the insured has filed a claim under the pet insurance policy, pet insurance applicants have the right to examine and return the policy, certificate, or rider to the company or an insurance producer of the company within 15 days of its receipt and to have the premium refunded if, after...”

• Mont. Code Ann. Sec. 33-24-405(2)(a) (Policy conditions, waiting periods)

  “A pet insurer may issue policies that impose waiting periods upon effectuation of the policy that do not exceed 30 days for illnesses or orthopedic conditions not resulting from an accident. Waiting periods for accidents are prohibited.”

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Questions about this source

More Montana sources

• Mont. Code Ann. s. 33-18-201: Unfair claim settlement practices prohibitedState statute
• Mont. Code Ann. s. 33-18-202: Misrepresentation and false advertising of policies prohibitedState statute
• Mont. Code Ann. ss. 33-20-104 to 33-20-119: Standard life insurance policy provisionsState statute
• Mont. Code Ann. s. 33-17-1001: Suspension, revocation, or refusal of licenseState statute
• Montana Code Annotated Title 33 Chapter 15 - The Insurance Contract (33-15-101 through 33-15-1126)State statute
• Montana Code Annotated Title 33 Chapter 17 - Insurance Producers, Adjusters, Consultants and Administrators (33-17-101 through 33-17-1205)State statute
• Montana Code Annotated Title 33 Chapter 20 - Life Insurance and Annuity Contracts (33-20-101 through 33-20-1606)State statute
• Montana Code Annotated Title 33 Chapter 22 Parts 1-6 - Disability Insurance: general provisions, individual policy provisions, coverage requirements, group and blanket (33-22-101 through 33-22-604)State statute