Best Home Insurance Rates In South Dakota

On average, your neighbors pay $91 a month.

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Compare Homeowners Insurance In South Dakota

The Mount Rushmore State is the home state of actress January Jones, artist Harvey Dunn, TV stars Bob Barker and Tom Brokaw, and the founder of USA Today, Al Neuharth. But, this state is also the home of a number of homeowners insurance risks.

Average South Dakota Homeowners Insurance Rates

How much is home insurance in South Dakota? South Dakota’s homeowners insurance premiums are lower than the rest of the country. The average cost of homeowners insurance in the state of South Dakota was $1,096. That's much lower than the national average of $1,132. There are only 22 states with lower homeowners rates than South Dakota.

South Dakota Average Annual Homeowners Insurance Rates
  2013 2014 2015
South Dakota Annual Average $915 $995 $1,096
South Dakota Price Per Month $76 $83 $91
US Annual Average $1,096 $1,132 $1,173
US Cost Per Month $91 $94 $98
National Rank 31 28 22
Source: Facts + Statistics: Homeowners insurance

The graph below shows the change in average South Dakota home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, South Dakota homeowners insurance rates increased from $721 in 2011 to $1,096 in 2015, a jump of $375 dollars, or 52.01 percent.

South Dakota average homeowners insurance rates

Choosing a homeowners insurance company in South Dakota should be easier. Actually, it’s already easy. The key to finding the cheapest rates is to get a home insurance quotes comparison in South Dakota from multiple companies.

Best South Dakota Home Insurance Companies

Last year, these were the most common home insurance companies reported by QuoteWizard users living in the state of South Dakota. Out of the 1,965 South Dakota homeowners that used QuoteWizard to request insurance quotes last year, 106 had no home insurance.

  1. Farmers
  2. American Family
  3. Progressive
  4. AAA
  5. Allstate
  6. Geico
  7. Nationwide
  8. MetLife
  9. USAA
  10. Safeco
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Best Homeowners Insurance Companies in South Dakota

The above list shows the most popular home insurers in South Dakota according to our users. But popular doesn’t always mean best.

Our study on the best home insurance companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:

  1. Amica: Best Overall
  2. MetLife: Best for Bundling
  3. Allstate: Best for Local Agents
  4. Hartford: Best for Seniors
  5. State Farm: Best for Pet Owners
  6. Travelers: Best for Flexible Policies
  7. Nationwide: Best Replacement Coverage
  8. Farmers: Best for Eco-Friendly Homes
  9. Liberty Mutual: Best for Quick and Easy Quotes
  10. Auto Owners Insurance: Best Claims Experience
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Top South Dakota Home Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Financial Rating Market Share
1 ACE Limited A++ 11.2%
2 Wells Fargo Insurance A+ 7.9%
3 QBE Insurance A 5.8%
4 American Financial NR 5.0%
5 American Family A+ 4.1%
6 Nationwide Mutual A+ 3.4%
7 Progressive A+ 3.0%
8 Iowa Farm Bureau A 2.3%
9 Auto-Owners Insurance A++ 2.1%
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South Dakota Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in South Dakota.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For South Dakota, the average listing price is $235,737 as of July 2015, somewhat lower than the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, South Dakota’s average burglary rate was 399.1 per 100,000 people, which is much lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In South Dakota, there are 48.1 law enforcement personnel per 100,000 total citizens, which is significantly more than the national median of 32 per 100,000.

Home Insurance Hazards

South Dakota’s climate is typical of the Northern Plains. It experiences four distinct seasons. Summers tend to be hot and dry, and winters are very cold and snowy. Summers are marked by thunderstorms and some tornadoes, all of which can be major homeowners insurance hazards.

Extremely cold winters: In South Dakota, the average annual snowfall is about 44 inches. Western parts of the state are slightly snowier than eastern parts. For example, in Sioux Falls, they average about 32 days of snow and about 45 inches of snow per year. Further west, in Lead, they average 67 days of snow and about 198 inches of snow per year!

South Dakota winters are very cold, and January is often the coldest month of the year. Throughout the state, high temperatures are around freezing, and low temperatures are single digits. In Aberdeen, the average January high is 23 degrees, and the average low is 2 degrees. Further west, the capital city of Pierre has January highs of 30 degrees and lows of 10 degrees. This cold can be a serious home insurance hazard. People crank the furnace up when temperatures drop, causing a spike in energy use and trapping in moisture that may cause mold later in the year. Pipes can crack or leak, and other metal structures can become stiff and brittle as the cold forces them to contract, which can seriously damage a home or foundation.

Thunderstorms: Summertime brings thunderstorms to South Dakota, especially in June and July. Each of these months will, on average, have about a third of all days for the year with precipitation. Thunderstorms bring heavy rains, strong winds, lightning, and hail. They can also cause tornadoes and flash floods. Severe thunderstorms can knock over trees, damage homes and infrastructure, and disrupt daily life. As thunderstorms can cause flooding, it is important to protect yourself against this natural disaster. The only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Tornadoes: According to the National Oceanic and Atmospheric Administration, South Dakota averages a relatively high 28 tornadoes per year. Even a mild tornado can damage property and uproot trees, mostly due to the strong winds and heavy rains that accompany most tornadoes. Severe tornadoes can destroy homes, flip cars, and cause serious damage to bridges and other infrastructure.

South Dakota Division of Insurance

Insurance Commissioner:
Larry D. Deiter
Insurance Hotline:
(605) 773 – 3563
Office Hours:
Monday - Friday
8:00 am to 4:00 pm
File a Consumer Insurance Complaint
Complaint Page

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