Best General Liability Insurance in South Dakota (2023)

MoneyGeek determined the top general liability insurance providers in South Dakota by considering their costs, customer service, financial stability and the convenience of their online quote estimation systems.

Thimble is the overall winner, receiving excellent reviews across several categories. For LLCs with 20 employees, this provider charges a $53 average monthly rate, while sole proprietors with no employees pay only $22.

Next provides the most affordable general liability insurance in South Dakota for small-scale enterprises. The insurer charges $35 a month for LLCs and a monthly premium of $25 for sole proprietors.

Thimble offers South Dakota's best general liability insurance, earning an overall MoneyGeek rating of 92 out of 100. With its affordable pricing and convenient online quote generation system, Thimble is an attractive choice for businesses seeking affordable coverage.

The table below displays our rankings of South Dakota insurance companies based on their average prices and MoneyGeek ratings.

In South Dakota, Next provides the least-expensive general liability insurance. Its monthly rates for LLCs with 20 employees average $35; for sole proprietors without employees, the average monthly cost is $25.

Our grading methodology includes an affordability rating that accounts for the monthly costs for both entity types. The winning company may not necessarily have the lowest rates in the industry.

With a MoneyGeek rating of 98 out of 100, Nationwide is the best general liability insurance for employers in South Dakota. This insurer charges LLCs an average monthly premium of $34.

The number of people a business employs is a significant factor that impacts insurance rates. The rankings in this category were based on the average monthly cost for LLCs with 20 employees. Companies with fewer than 20 workers may pay below the average, while those with more than 20 may face higher costs.

Thimble ranks as the best general liability insurance provider for sole proprietors in South Dakota, with a MoneyGeek score of 95 out of 100. Its insurance plan starts at $22 per month.

MoneyGeek focused on the average costs for small businesses without employees to rank each company. However, the cost of general liability insurance may vary depending on a business's location and level of risk exposure. These variables can impact the overall premium, so business owners should consider these factors when seeking insurance coverage.

Every business in South Dakota should consider purchasing a general liability insurance policy, which protects against typical third-party issues, including:

• Third-party bodily injuries: If a customer gets injured at your business, general liability insurance helps cover their medical costs.
• Third-party property damage: If your company or employees damage someone else's property, general liability insurance pays for the cost of repairs or replacement.
• Personal and advertising injury: If your business or employees face a lawsuit for issues like libel, slander or copyright infringement, it covers your legal expenses and any resulting damages.

General liability insurance may be required to obtain licenses or business authorizations in some sectors. Additionally, businesses are generally required to have workers' compensation insurance, along with other forms of business insurance. However, in South Dakota, there are no provisions requiring workers' compensation.

In South Dakota, company-owned vehicles must have commercial auto insurance with the following minimum requirements:

• $25,000 per person
• $50,000 per accident for bodily injury
• $25,000 for property damage

In South Dakota, general liability insurance typically costs $53 monthly for LLCs with 20 employees and $28 per month for sole proprietors. These costs are based on insurance policies that provide a $1 million occurrence limit, a $2 million aggregate limit and a $0 deductible.

With this type of insurance, the occurrence limit represents the maximum coverage available for a single incident or claim, while the aggregate limit refers to the maximum coverage available for all claims made during the policy period. The deductible is the predetermined amount the insured must pay out-of-pocket before the insurance provider covers the losses.

General liability insurance costs vary between companies and are based on several contributing factors, including:

To help you make an informed decision about general liability insurance for your business, we have compiled responses to some frequently asked questions.