Average Cost of Homeowners Insurance in South Dakota (2024)

The average cost of homeowners insurance in South Dakota in 2024 is $2,827. This figure is $404 more than the national average of $2,423. Aside from the amount of coverage you get, credit rating has the largest impact on premiums in South Dakota. The difference between premiums for those with excellent and poor credit ratings can be as much as $12,283.

If your rates have recently increased, we've also analyzed the cheapest policies in South Dakota, which could offer more affordable options. The insurance provider you choose also plays a role in determining your premiums.

In South Dakota, the average homeowners insurance premium is $2,827 for policies with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage, which is more than the national average of $2,423.

When determining how much coverage you need, first secure enough insurance to rebuild your home and replace personal property after a total loss. For example, a South Dakota policy with $100K in dwelling coverage comes with an annual premium of $1,577. On the other hand, if your property necessitates $500K in dwelling coverage, the annual premium rises to $4,733.

Homeowners insurance premiums in South Dakota can swing widely from one insurer to the next, even for comparable coverage. For instance, a policy from Auto-Owners Insurance may cost significantly less than one from USAA, reflecting a difference of over $2,000 annually.

For those shopping around for the best fit, there are plenty of great providers in South Dakota. Differences in underwriting can lead to substantial variations in policy costs, making it wise to compare options.

Homeowners in South Dakota with poor credit scores pay $14,486 annually for homeowners insurance on average, a staggering $11,659 more than the state average of $2,827. Conversely, those with excellent credit enjoy a premium of about $2,203, saving them $624 below the average.

While immediate improvements to credit scores aren't always feasible, strategic planning can enhance them over time, potentially reducing insurance costs. In the interim, comparing insurance providers can unearth significant savings. South Dakota homeowners can explore their options and potentially find more affordable rates in less than 15 minutes by checking which insurers offer the best value for their money.

Roofing materials affect homeowners insurance premiums due to their durability and resistance to elements. In South Dakota, homes with tile roofs may have lower insurance costs as they are more resistant to weather-related damage.

Construction materials also play a role in insurance pricing, as some are more resistant to common perils. For instance, homes with superior construction materials that are more fire-resistant can attract lower insurance premiums than standard frame construction.

Use the drop-downs in the table below to see how premiums change based on your home's materials.

Insuring a new construction home in South Dakota typically costs less than covering an existing one. Homeowners may find that the modern materials and adherence to current building codes can translate into savings on their premiums. The table below illustrates how premiums for new homes compare with those for older structures. Adjust the filter to see how different levels of coverage affect these costs.

In South Dakota, the average annual premium for a new home is $1,204, which is $1,623 lower than the average for an existing home at $2,827.

In South Dakota, homeowners with a spotless claims record for five or more years can expect an average annual premium of $2,827 for their homeowners insurance. However, if you've filed a single claim within the past five years, the average jumps to $3,399, reflecting a $572 increase from the baseline. For those with two claims in the same timeframe, the premium escalates to an average of $4,027 annually, which is $1,200 above the average. These figures illustrate how a claims-free history can significantly benefit your wallet when it comes to insurance costs.

Getting a good deal on homeowners insurance in South Dakota is within reach. You don't need to be an expert to find insurance that fits your budget and meets your needs. It's about being savvy and knowing that the perfect policy is out there for you. Here's how to find the best deal for you.

Homeowners can unlock savings by bundling their home insurance with auto insurance in South Dakota. MoneyGeek's analysis reveals that the average savings on the combined cost of auto and home insurance range from $414 to $1,000 per year, with an average percent savings of about 18%. Opting for a multipolicy bundle can be a smart way to manage insurance costs more effectively.

Homeowners in South Dakota can capitalize on various discounts to lower their insurance premiums.

• Protective devices discount for installing security systems
• Impact-resistant roof discount for weatherproof roofing materials
• Claim-free discount for years without filing a claim

Remember to inquire about eligible discounts when requesting a quote to ensure you're getting the best possible rate.

For those navigating the homeowners insurance landscape in South Dakota, a variety of resources are available to assist with understanding regulations, finding affordable coverage and estimating insurance costs. Whether you're a new homebuyer or a seasoned homeowner, these tools can provide valuable insights into your insurance options.

• South Dakota Division of Insurance: Official state resource for insurance regulations.
• Affordable Home Insurance in South Dakota: Find cost-effective options for your home.
• South Dakota Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in South Dakota: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.