Average Costs and Cheapest Homeowners Insurance Companies in South Dakota

If you’re wondering how much your homeowners insurance in South Dakota is going to cost, consider that it depends on your individual needs. Travelers is the cheapest option for people with new houses and homes with pools, while Farmers offers the lowest insurance for more expensive homes. MoneyGeek's study gathered thousands of quotes from various companies to help you find the cheapest and best homeowners insurance in South Dakota.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in South Dakota if you want to balance cost and quality.

To get the best and cheapest home insurance in South Dakota, MoneyGeek compared companies and quotes across various coverage levels. On average, Travelers is the state's cheapest insurer for the state's $250,000 baseline dwelling coverage, at $1,666 per year.

The following companies in South Dakota are the cheapest for various dwelling coverages:

• Cheapest for $100,000: Travelers
• Cheapest for $250,000: Travelers
• Cheapest for $500,000: Travelers

The amount of home insurance you need is determined by the replacement value of your home. Homes with a higher value need higher dwelling coverage. To understand how South Dakota's home insurance costs change at various coverage levels, use the table below.

Your home insurance costs change based on your chosen level of dwelling coverage. Customers with basic dwelling coverage pay an average of $2,545 a year in South Dakota.

The higher the coverage, the costlier the policy. Insurance policies offering higher coverage deliver more protection against damage and losses. A policy with $100,000 in dwelling coverage in South Dakota costs an average of $1,545 yearly, while a policy with $3,000,000 in coverage costs about $23,949 a year, for a wide difference of $22,404.

Other factors that can affect your home insurance costs in South Dakota are weather patterns, your credit score and your frequency of past claims.

With MoneyGeek's calculator, you can change dwelling coverage limits, deductibles and other factors to see how the average homeowners insurance rates in South Dakota fluctuate based on your needs.

To find the best and cheapest homeowners insurance in South Dakota, MoneyGeek compared thousands of quotes. Our analysis revealed that the following companies are the most affordable, on average, for homeowners who require $2 million in home insurance coverage:

• Farmers: $7,052 per year
• American Family: $9,959 per year

Since insurance rates vary significantly by dwelling coverage and the company, customers should make sure to shop around and compare quotes from multiple companies when insuring an expensive home.

In addition, MoneyGeek analyzed quotes from South Dakota's insurance companies to find the best deal for newer homes requiring $250,000 in dwelling coverage. The rates pertain to a sample home built in 2015.

On average, the two cheapest homeowners insurance companies in South Dakota for people with newer homes that require a $250,000 baseline dwelling coverage are:

• Travelers: $1,198 per year
• Allstate: $1,245 per year

The cost of insuring a newer home is generally lower than prices for older houses. New homes constructed in South Dakota in 2015 are $807 cheaper, on average, than dwellings built in the year 2000.

Due to the adoption of a different ZIP code gathering process, the data for homes constructed in 2000 vary from those in the first section.

The average annual cost of homeowners insurance in South Dakota is $1,585 for newly constructed homes and $2,392 for homes built in 2000. That's a difference of $807.

Older homes have higher insurance costs for several reasons. It may be difficult to find the materials you need to fix the home, which may be more expensive to rebuild, as well. In addition, older homes exhibit more signs of wear.

MoneyGeek compared thousands of quotes to find the cheapest pool insurance in South Dakota. If you’re looking for affordable homeowners insurance in South Dakota with a $250,000 dwelling coverage, consider these companies:

• Travelers: $1,654 per year
• Farmers: $2,095 per year

Swimming pools are generally considered an attractive nuisance by insurers, and pool owners are liable for any injuries that occur as a result of using the pool. Most homeowners insurance policies for homes with pools include both structural damage to the pool and liability coverage in the event that a guest is harmed while swimming in the pool. As a result, insurance rates for homes with pools are typically higher.

Having a swimming pool on your property may raise your insurance costs in South Dakota. The average annual insurance rate in the state for a $250,000 home is $2,545 per year. However, the average yearly premium for a swimming pool is $2,392. Although the rate for a pool-equipped home in the state is cheaper, this is merely an average for our sample house. Insurance premiums can vary greatly depending on your needs and background.

MoneyGeek reviewed thousands of quotes to find the best and cheapest company for people with bad credit in South Dakota. Individuals with bad credit seeking $250,000 in home insurance can purchase the cheapest insurance, on average, from these two companies:

• Travelers: $2,843 per year
• Auto-Owners Insurance Co: $3,536 per year

If you have a bad credit score, your home insurance premiums may rise. This increase is due to insurance companies using credit-based insurance ratings to estimate risk and predict that a claim would be made on a policy held by the individual.

When determining home insurance rates, insurers consider many variables, including your credit history. People with bad credit generally pay higher rates than individuals with good credit.

For $250,000 of baseline coverage, customers with good credit pay an average of $2,561 per year in South Dakota homeowners insurance, while individuals with poor credit pay $5,380 per year, on average. That is a $2,819 difference.

Insurance costs can also vary based on where you reside. Travelers has the cheapest home insurance in Sioux Falls in relation to the city average, saving you $878 per year. See the chart below for more information about the insurance prices in your city.

To receive a quote for home insurance in South Dakota, the provider needs some important information, including your name, phone number, address and Social Security number. In addition, the age and value of your home, details about the materials used, quality of construction and security systems can also be important factors. With these details, providers can calculate your quote.

If you're looking for an anonymous approach to obtaining home insurance rates in South Dakota, MoneyGeek's home insurance calculator can be beneficial. We use a database of thousands of quotes to compute costs.

MoneyGeek analyzed homeowners insurance premiums from seven of the top insurance companies in South Dakota that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across South Dakota. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.