Average homeowners insurance cost in South Dakota

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Whether you’re buying a new home or want to protect the property you currently own, it’s important to have sufficient homeowners insurance coverage in place. However, home insurance policies can get expensive, depending on your insurer and the coverage level you choose.

On average, South Dakota homeowners insurance costs $3,374 a year, based on Insure.com’s data.

Learn more about the average homeowners insurance rates by company and ZIP code in South Dakota.

Average home insurance cost in South Dakota by coverage level

The average cost of homeowners insurance in South Dakota is $3,374 per year for the coverage limits of $300,000 dwelling coverage and $100,000 liability with a $1,000 deductible.

However, if you increase the dwelling coverage limit from $300,000 to $400,000, you will pay $2,420 per year for homeowners insurance in South Dakota for $100,000 in liability protection and $1,000 deductible. Below, you can find the average cost of homeowners insurance in South Dakota for dwelling coverage of $300,000, $400,000 and $500,000.

Homeowners insurance companies in South Dakota decide rates based on risk. They consider your location, claims history and coverage limit when calculating premiums.

If your neighborhood has seen many claims over the past few years, you can expect to pay higher home insurance rates than an area with few to no claims.

Best homeowners insurance companies in South Dakota

It’s always wise to shop around and compare prices before you buy homeowners insurance. There are many factors that go into deciding the best homeowners insurance company.

We have compared the insurers in South Dakota using their NAIC score and AM Best rating and compiled a list of the best homeowners insurance in South Dakota. Based on the analysis, Auto-Owners received the lowest NAIC score and A++ rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher customer satisfaction.

Average homeowners insurance cost by company in South Dakota

Auto-Owners offers the most affordable homeowners insurance in South Dakota, at an average annual premium of $2,248, followed by North Star Mutual and Allstate.

You can save hundreds — if not thousands — of dollars each year if you shop around for homeowners insurance.

Here are the average annual and monthly insurance rates for South Dakota homeowners for a policy with $300,000 dwelling coverage and $100,000 liability protection with a $1,000 deductible.

South Dakota homeowners insurance rates by ZIP code

Insurance companies in South Dakota assess the risk associated with a specific location. ZIP codes prone to higher crime rates or frequent natural disasters are often classified as high-risk areas, which can lead to increased insurance premiums. The cost of rebuilding or repairing homes in a specific ZIP code can also impact how much you pay for a homeowners insurance policy.

Make sure you shop around and compare quotes from various insurance companies to get the best deal on homeowners insurance rates in South Dakota. Don’t forget to ask about any available discounts, such as bundling policies or a smart home discount.

Most affordable ZIP codes for home insurance rates in South Dakota

Home insurance costs vary across different areas in South Dakota. What you pay for homeowners insurance depends on several factors, including your ZIP code. According to our data, the 57005 ZIP code has the lowest home insurance rates in South Dakota, at $3,058 annually or $255 per month.

Here are the homeowners insurance rates for some of the most affordable ZIP codes in South Dakota.

Most expensive ZIP codes for home insurance rates in South Dakota

In South Dakota, certain areas experience higher premiums because of higher crime rates, increased risk of natural disasters and the cost of living.

Homeowners in 57751 ZIP pay the highest insurance rates in South Dakota, with an average annual premium of $4,361.

Below is a list of some of the most expensive ZIP codes in South Dakota for homeowners insurance.

Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.

Home insurance rate trend in South Dakota

We analyzed home insurance rate trends in South Dakota and found that homeowners insurance rates experienced an overall decrease of 4% or $140, from 2022 to 2023.

The below data shows how much homeowners insurance rates have changed since 2019.

To find the right homeowners insurance, research thoroughly and compare costs from multiple insurers, as they assess risk differently. Getting quotes from at least three companies helps ensure you get the most affordable coverage in South Dakota.

Resources & methodology

Source

S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.

Methodology

Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.

The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:

• $300,000 dwelling coverage
• $100,000 liability protection
• $1000 deductible

We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.

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Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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