Cheapest Homeowners Insurance in South Dakota (2024 Rates)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.