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.

MoneyGeek Logo IconBest General LiabilitySouth Dakota
2024

Best General Liability Insurance in South Dakota

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in South Dakota.

recency icon

Coverage costs and company information for general liability insurance providers in South Dakota were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in South Dakota

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.

How was this MoneyGeek score calculated?

Thimble92$22$53
Nationwide91$33$34
Next88$25$35
The Hartford88$32$52
Hiscox83$29$93
Best OverallScore: 92
Thimble
3/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Offers the cheapest premiums for sole proprietors

Fastest online quote process

Excellent AM Best financial stability rating

CONS

Below-average customer satisfaction rating

Services delivered remotely

Company Highlights

With a MoneyGeek score of 93 out of 100, Thimble is the best general liability insurance provider in South Dakota. LLCs with 20 employees pay around $53 per month, while sole proprietorship businesses without employees can expect an average monthly cost of $22.

Thimble's customer support is primarily conducted online. Despite the insurer's accessibility and competitive pricing, MoneyGeek's analysis of comparable companies revealed a relatively lower client satisfaction score for Thimble. Business owners should consider this factor in addition to Thimble's convenience and affordability.

Cheapest General Liability Insurance in South Dakota

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.

How was this MoneyGeek score calculated?

CheapestScore: 95
Next
5/5LLC Affordability
4/5Sole Proprietor Affordability
0/5Customer Satisfaction
2/5Financial Stability
4/5Online Quote Process
PROS

Charges second-most affordable premiums for both LLCs and sole proprietors

Swift online quote process

CONS

Poor AM Best financial stability rating

Company Highlights

With a MoneyGeek score of 95 out of 100, Next is the top choice for the most affordable general liability insurance in South Dakota. This insurance company offers highly competitive rates, with a monthly cost of $35 for LLCs, which ranks second-lowest among competitors. For sole proprietors, the average monthly cost is $25, also making Next the second-cheapest option. With its affordable pricing and overall solid performance, Next is an excellent choice for businesses seeking cheap, reliable general liability insurance coverage.

Next's online quote processing is quick and seamless. While it ranks as the third-fastest in terms of quote generation, it still offers an efficient and user-friendly experience.

Furthermore, Next is committed to meeting its financial obligations, ensuring the repayment of debts and coverage of claims. However, other insurers may have received better financial stability scores, indicating a potentially more robust financial backing. When evaluating insurance options, businesses should take this factor into account, along with other relevant factors.

Best General Liability Insurance for Employers in South Dakota

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.

How was this MoneyGeek score calculated?

Best for EmployersScore: 98
Nationwide
5/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Offers the cheapest average monthly premium at $34

Strong financial backing

Provides excellent customer service

CONS

Online quote generation takes a couple of minutes

Company Highlights

Nationwide is our top pick for employers seeking general liability insurance in South Dakota. With an average monthly premium of $34, it offers the cheapest coverage for LLCs with 20 employees. Nationwide is also known for its excellent customer service and financial stability, ensuring reliable protection for employers in the state.

The company offers dependable coverage for business assets, ensuring protection against unexpected events. However, the online quote process with Nationwide may take longer compared to other insurers. Although this additional time allows for a thorough and accurate assessment of your coverage needs, you should allocate sufficient time when getting an online quote from Nationwide.

Best General Liability Insurance for Sole Proprietors in South Dakota

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.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 95
Thimble
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Offers the most affordable rate at $22 per month

Fastest turnaround time for online quotes

A+ AM Best financial stability score

CONS

Receives more customer complaints than competitors

Company Highlights

With a MoneyGeek rating of 95 out of 100, Thimble offers the best general liability insurance for sole proprietors in South Dakota. This company has the lowest average monthly cost at $22. It boasts a strong financial standing, ensuring its ability to cover claims.

Getting an online quote with Thimble takes under a minute. Sole proprietors can quickly compare various estimates as Thimble provides lightning-fast turnaround times. However, Thimble receives an above-average number of complaints, indicating a level of dissatisfaction among some consumers.

Do You Need General Liability Insurance in South Dakota?

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
smallBusiness icon
SMALL BUSINESS RESOURCES IN SOUTH DAKOTA

South Dakota Business Help offers abundant resources that consumers can take advantage of, particularly in business planning and financing. Specialized programs are available to support prospective business owners in various aspects, including procurement technical assistance, customized business development and commercialization services, exporting finance packaging, business improvement and innovation, small business development and research and development needs. These resources and programs aim to promote growth and success for South Dakota businesses.

How Much Is General Liability Insurance in South Dakota?

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.

Factors That Impact General Liability Insurance Costs in South Dakota

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

    insurance2 icon

    Policy limits

    General liability insurance provides coverage for two types of limitations — the aggregate limit and the occurrence limit. The aggregate limit is the maximum sum your insurer will pay throughout the policy's duration. The occurrence limit refers to the highest amount the provider will spend on each claim. Generally, higher limits come with higher costs.

    wage icon

    Number of employees and payroll costs

    The number of people you hire will significantly affect your insurance expenses. If you employ more people, your general liability insurance rates could increase.

    business icon

    Business location

    The location of your business determines general liability insurance premiums. Companies that operate in areas with a higher population density are bound to face higher prices since they are prone to submitting claims.

    uninsured icon

    Claims history

    Businesses tend to pay less for insurance if they have never filed an insurance claim. This could be attributed to the use of effective risk management techniques.

    hammer icon

    Industry

    Your insurance premiums may vary depending on the sector you work in. Specific industries, such as those involving hazardous activities or high-risk work environments, may typically have higher insurance costs due to the increased likelihood of accidents or liability claims. The table below provides an overview of the average general liability insurance prices in South Dakota across different sectors.

General Contractor$169$2,461
Software Development$28$53
Cleaning$51$1,299

Frequently Asked Questions About General Liability Insurance in South Dakota

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

Which company has the best general liability insurance in South Dakota?
Which company has the cheapest general liability insurance in South Dakota?
What does general liability insurance cover in South Dakota?
Does South Dakota require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.

Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.


sources
  • South Dakota Small Business Development Center. "SD Business Help." Accessed May 11, 2023.
  • South Dakota Small Business Development Center. "Resources." Accessed May 11, 2023.