Cheapest Homeowners Insurance in South Dakota (2024 Rates)


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Updated: May 22, 2024

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In South Dakota, homeowners have a range of options when it comes to affordable home insurance policies tailored to their unique needs and budgets. Auto-Owners is the top choice for overall affordability, especially for those seeking coverage for high-value homes. However, Nationwide is likely the cheaper option if you have a new home. Homeowners in South Dakota with low credit scores can also turn to Farm Bureau for the most affordable home insurance policies.

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2024

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Why Trust MoneyGeek? MoneyGeek used information from the South Dakota Division of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in South Dakota as of 2024.

Overall Cheapest Homeowners Insurance in South Dakota

The most affordable homeowners insurance in South Dakota is from Auto-Owners, with premiums averaging $1,088 annually for $100K in dwelling coverage. However, premiums can change depending on your coverage limits.

However, Auto-Owners is the cheapest provider for a range of coverage levels in South Dakota. See how its rates stack up:

  • Cheapest for $100,000: Auto-Owners at $1,088 per year
  • Cheapest for $250,000: Auto-Owners at $1,634 per year
  • Cheapest for $500,000: Auto-Owners at $2,782 per year

Find cheap homeowners insurance using the table below and see how it differs by dwelling coverage.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Auto-Owners InsuranceAnnual Premium$1,088
Farm BureauAnnual Premium$1,149
AllstateAnnual Premium$1,382
State FarmAnnual Premium$1,413
FarmersAnnual Premium$1,543
NationwideAnnual Premium$1,708
American FamilyAnnual Premium$1,919

Compare South Dakota Home Insurance Quotes Online

To find affordable home insurance in South Dakota, comparing quotes from a variety of insurance providers is essential. MoneyGeek’s home insurance calculator offers a convenient way to get South Dakota quotes quickly, without the need for personal details at the start.

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Rates updated:

Jul 22, 2024

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Cheapest Home Insurance in South Dakota for High-Value Homes

South Dakota's cheapest home insurance for high-value homes built in 2000 is Auto-Owners, which offers policies at $4,397 annually for $750K in dwelling coverage. Typically, high-value homes need to pay higher insurance costs. Here's a comparison between dwelling coverage amounts:

  • Cheapest for $750,000: Auto-Owners at $4,397 per year
  • Cheapest for $1,000,000: Auto-Owners at $6,052 per year

Note that you should adjust dwelling coverage to the amount of replacement for the home instead of the property value. MoneyGeek has a comparison table so you can better understand differing coverage levels and construction years.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
Auto-Owners InsuranceAnnual Premium$4,397
FarmersAnnual Premium$5,104
State FarmAnnual Premium$5,853
Farm BureauAnnual Premium$6,304
AllstateAnnual Premium$6,645
American FamilyAnnual Premium$7,434
NationwideAnnual Premium$8,332

Cheapest Home Insurance in South Dakota for New Homes

For new homes in South Dakota, the most affordable home insurance comes from Nationwide, costing $466 annually for $100K Dwelling coverage. It's worth noting that newer homes generally have lower insurance rates in South Dakota primarily due to their lower risk potentials, such as advanced building codes and materials, modern security systems and less likely structural issues.

Nationwide offers the most economical options for several tiers of coverage for new homes:

  • Cheapest for $100,000: Nationwide at $466 per year
  • Cheapest for $250,000: Nationwide at $744 per year
  • Cheapest for $500,000: Nationwide at $1,210 per year

To understand how rates can change for new homes, check out MoneyGeek's comparison table.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
NationwideAnnual Premium$466
Farm BureauAnnual Premium$601
AllstateAnnual Premium$632
Auto-Owners InsuranceAnnual Premium$707
American FamilyAnnual Premium$742
State FarmAnnual Premium$845
FarmersAnnual Premium$1,156

Cheapest Home Insurance in South Dakota for Low Credit Scores

The most budget-friendly home insurance for homeowners with poor credit scores in South Dakota is from Farm Bureau, with rates averaging $2,134 per year for $100K in dwelling coverage. A low credit score might affect the cost of insurance premiums since insurers see it as a risk.

If you have poor credit, take a look at the cheapest providers below by dwelling coverage:

  • Cheapest for $100,000: Farm Bureau at $2,134 per year
  • Cheapest for $250,000 Farm Bureau at $4,367 per year
  • Cheapest for $500,000 Nationwide at $8,388 per year

Having poor credit can often lead to higher premiums. For instance, homeowners in South Dakota with a low credit score pay an average of $9,670 per year for $100K in dwelling coverage, compared to $1,457 for owners with good credit.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Farm BureauAnnual Premium$2,134
NationwideAnnual Premium$2,417
AllstateAnnual Premium$2,676
American FamilyAnnual Premium$3,102
State FarmAnnual Premium$3,737
FarmersAnnual Premium$7,276
Auto-Owners InsuranceAnnual Premium$46,346

Cheapest Home Insurance in South Dakota With a Claims History

In South Dakota, homeowners with one claim in the past five years can find the cheapest home insurance from Auto-Owners, offering policies at an average of $1,088 yearly for those with $100K in dwelling coverage. You can typically get cheaper premiums if you don't have previous claims.

Compare cheap home insurance for different levels of dwelling coverage and for those with one claim in the past five years:

  • Cheapest for $100,000: Auto-Owners at $1,088 per year
  • Cheapest for $250,000: Auto-Owners at $1,634 per year
  • Cheapest for $500,000: Auto-Owners at $2,782 per year

Having no claims in the last five years can give you cheaper premiums, around an average of $1,457 per year, compared to the $2,049 average annual premium for those with two claims in the past five years.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Auto-Owners InsuranceAnnual Premium$1,088
Farm BureauAnnual Premium$1,319
State FarmAnnual Premium$1,613
FarmersAnnual Premium$1,742
NationwideAnnual Premium$2,134
American FamilyAnnual Premium$2,210
AllstateAnnual Premium$2,296

Cheapest Home Insurance in South Dakota by Home and Roof Materials

The type of construction materials used to build your home and the type of roof you have can significantly impact your home insurance costs. State Farm offers the cheapest home insurance in South Dakota if your home falls is a frame construction type with shake-treated roofing, with premiums averaging $1,413 annually for $100K in dwelling coverage.

Compare the most affordable prices for different coverage amounts:

  • Cheapest for $100,000: State Farm at $1,413 per year
  • Cheapest for $250,000: State Farm at $2,605 per year
  • Cheapest for $500,000: State Farm at $4,250 per year

Homes made with better materials often have lower premiums. For instance, in South Dakota, the average cost of a policy with $100K in dwelling coverage for a frame-type home with a shake-treated roof is $1,718 per year, while a home with superior construction and a tile roof is $1,303 annually.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
State FarmAnnual Premium$1,413
AllstateAnnual Premium$1,553
Farm BureauAnnual Premium$1,582
American FamilyAnnual Premium$1,661
FarmersAnnual Premium$1,678
Auto-Owners InsuranceAnnual Premium$1,889
NationwideAnnual Premium$2,254

Cheapest Home Insurance in South Dakota by Deductible

Altering your deductible can save hundreds of dollars annually. For example, South Dakota's most affordable home insurance for a $2,000 deductible is from Farm Bureau, costing $951 yearly. Compare this rate to a $500 deductible's lowest-costing provider of Auto-Owners at $1100 annually.

The least expensive companies for each deductible are:

  • $2,000 deductible: Farm Bureau at $951 per year
  • $1,500 deductible: Farm Bureau at $1,035 per year
  • $1,000 deductible: Auto-Owners at $1,088 per year
  • $500 deductible: Auto-Owners at $1,100 per year

Deductibles in home insurance represent your out-of-pocket costs before the insurance covers the remaining expenses. The average cost difference across insurers for a $500 deductible versus a $2,000 deductible is $249.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Farm BureauAnnual Premium$951
Auto-Owners InsuranceAnnual Premium$1,083
AllstateAnnual Premium$1,105
State FarmAnnual Premium$1,273
NationwideAnnual Premium$1,351
FarmersAnnual Premium$1,519
American FamilyAnnual Premium$1,908

Cheapest Home and Auto Insurance Bundle in South Dakota

In South Dakota, Auto-Owners offers the cheapest home and auto bundle policy with an average annual premium of just $2489. Merging your home and auto insurance can bring significant discounts, making it a savvy financial move.

  • Auto-Owners at $2,489 per year
  • State Farm at $2,727 per year

In addition to cost savings, bundling also brings the convenience of managing both policies with one insurer. This simplifies the process, facilitating more efficient policy management and direct communication with a single entity. Discover the best South Dakota insurance bundle and benefit from these advantages.

Auto-Owners Insurance CoAnnual Premium$2,489
State FarmAnnual Premium$2,727
FarmersAnnual Premium$2,870
AllstateAnnual Premium$3,366
NationwideAnnual Premium$4,212

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.