Best and Cheapest Renters Insurance in South Dakota (Aug 2024)


While State Farm is the best for $20K in personal property coverage with an average annual premium of $60 and a MoneyGeek score of 91 out of 100, American Family offers the lowest premiums.

The best company for you will depend on your needs. For instance, American Family excels in service quality, and Main Street America Insurance is ideal for veterans.

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Best Overall: State Farm

State Farm is the best overall renters insurance provider with a MoneyGeek score of 91 out of 100, and the average annual premium is $60.

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Cheapest: State Farm

State Farm is the cheapest renters insurance provider in South Dakota with an average annual premium of $60.

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Best Service: American Family

American Family is the best renters insurance provider for service quality with a MoneyGeek score of 81 out of 100 and an average annual premium of $105.

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Best for Extra Personal Property: State Farm

State Farm is the best renters insurance provider for those who need extra personal property coverage of $100K, with a MoneyGeek score of 91 out of 100 and an average annual premium of $128.

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Best for Veterans: State Farm

USAA is the best renters insurance provider for military members, with a MoneyGeek score of 91 out of 100 and an average annual premium of $60.

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Best for Bad Credit: State Farm

State Farm is the best renters insurance provider for people with poor credit in South Dakota, with a MoneyGeek score of 91 out of 100 and an average annual premium of $119.

Why Trust MoneyGeek? We used data from the South Dakota Department of Insurance and Quadrant Information Services to find the top renters insurance in South Dakota.

Renters insurance rates in South Dakota reflect the best quotes as of September 2024.

11,520Quotes Collected
 
4Cities Analyzed
 
5ZIP Codes

Overall Best Renters Insurance in South Dakota

State Farm has the highest MoneyGeek score of 91 out of 100 in South Dakota, with an annual premium of $60 for $20,000 in personal property coverage. This top-rated provider excels at offering a balance of cost and customer service. The top two providers for the same policy are:

  • State Farm: MoneyGeek score of 91 out of 100 ($60 per year)
  • Allstate: MoneyGeek score of 80 out of 100 ($66 per year)

State Farm perfectly balances customer satisfaction and affordability. However, the best provider for you will still depend on your needs.

Company logo for State Farm
State Farm
MoneyGeek Score:
91/ of 100

Overview

In South Dakota, State Farm is the best overall renters insurance, ranking first in affordability with an annual premium of $60.

State Farm offers coverage for Cyber Event/ID Theft as an add-on. This coverage helps protect against cyber threats by providing identity restoration services, which can be invaluable in recovering stolen personal information. This can save renters both time and money in the event of identity theft or cyber fraud.

Best Renters Insurance in South Dakota
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State Farm91$ 60
Allstate80$ 66
Auto-Owners Insurance72$ 84
Farm Bureau67$ 92
Farmers65$ 91
Nationwide64$ 99
American Family61$ 105
Main Street America Insurance43$ 115

Cheapest Renters Insurance in South Dakota

State Farm offers the cheapest renters insurance in South Dakota, with an annual premium of $60 for $20K in personal property coverage. Personal property coverage helps protect your belongings against damage or theft.

The two cheapest providers in South Dakota for $20K in personal property coverage and a $1,000 deductible are:

  • State Farm: $60 per year
  • Allstate: $66 per year

Cheap renters insurance policies often have low personal property coverage limits. Higher personal property coverage limits can lead to higher monthly costs but offer better protection for your belongings.

Cheapest Renters Insurance in South Dakota
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State Farm$ 60
Allstate$ 66
Auto-Owners Insurance$ 84
Farmers$ 91
Farm Bureau$ 92
Nationwide$ 99
American Family$ 105
Main Street America Insurance$ 115
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QUALITY OVER COST

Opt for quality service when selecting renters insurance. Investing in the best renters insurance can be more beneficial long-term than choosing the cheapest option. This ensures smooth claims processing and could potentially save you money.

Cheapest Renters Insurance by High Deductible in South Dakota

A high deductible can help you lower your renters insurance costs. In South Dakota, the cheapest renters insurance company for $20K in personal property coverage with a $2,000 deductible is State Farm, with an annual premium of $60. For the same coverage with a $2,000 deductible, the following providers are the two cheapest in South Dakota:

  • State Farm: $60 per year
  • Allstate: $66 per year

A deductible is the amount you pay out of pocket before your insurance covers a claim, and it directly impacts your out-of-pocket costs and premiums. Generally, a higher deductible reduces your premium. Take a look at how rates change using the table provided below.

Cheapest High-Deductible Renters Insurance in South Dakota
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
State Farm$ 60
Allstate$ 66
Auto-Owners Insurance$ 79
Farm Bureau$ 87
Farmers$ 91
Nationwide$ 93
American Family$ 100
Main Street America Insurance$ 100

Best Renters Insurance for Customer Service in South Dakota

American Family is the best renters insurance company for service quality in South Dakota for $20,000 in personal property coverage, with an annual premium of $105. The two best providers in South Dakota for those who value great customer service and $20,000 in personal property coverage are:

  • American Family: MoneyGeek score of 81 out of 100 ($105 per year)
  • Nationwide: MoneyGeek score of 78 out of 100 ($99 per year)

Great customer service in a renters insurance provider means being responsive, helpful, and reliable when you need support, especially during the claims process. When you make a claim, good customer service ensures your issues are resolved efficiently, helping you get back on your feet with minimal hassle.

Company logo for American Family Insurance
American Family Insurance
MoneyGeek Score:
81/ of 100

Overview

In South Dakota, American Family ranks first in customer satisfaction and coverage, with an annual premium of $105.

American Family offers back-up of sewer or drain and business property insurance. The back-up of sewer or drain coverage mitigates costs from water damage due to sewer or drain issues, protecting renters from substantial repair expenses. Business property coverage provides additional protection for home business assets, ensuring renters working from home have financial security for their equipment and inventory.

Best Renters Insurance For Customer Service in South Dakota
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
American Family81$ 105
Nationwide78$ 99
Farm Bureau77$ 92
State Farm75$ 60
Auto-Owners Insurance70$ 84
Farmers69$ 91
Allstate63$ 66
Main Street America Insurance55$ 115

Best Renters Insurance for Extra Personal Property in South Dakota

State Farm, with an annual premium of $128, is the best renters insurance company for renters who need $100K of personal property coverage in South Dakota. The two best providers are:

  • State Farm: MoneyGeek score of 91 out of 100 ($128 per year)
  • American Family: MoneyGeek score of 87 out of 100 ($165 per year)

Renters who have more personal belongings need higher personal property coverage. Personal property coverage protects against loss or damage to your belongings, such as furniture, electronics and clothing.

Higher personal property coverage often comes at a higher cost. It is important to find a provider who can balance cost and great service, as you want a balance of both when you need to cover a lot of valuables.

Company logo for State Farm
State Farm
MoneyGeek Score:
91/ of 100

Overview

State Farm ranks first in South Dakota for affordability, offering admirable customer satisfaction. Renters seeking extra personal property coverage will find it an affordable choice with an annual premium of $128.

State Farm includes two valuable coverages ideal for renters: "Cyber Event/ID Theft" and general liability coverage. Cyber Event/ID Theft coverage helps with identity restoration and protection against cyber threats, ensuring peace of mind in digital interactions. Liability coverage safeguards renters from financial responsibility due to unintended bodily injury or property damage within their rental space.

Best Renters Insurance for Extra Personal Property Limits in South Dakota
State Farm91$ 128
American Family87$ 165
Farm Bureau86$ 149
Nationwide85$ 177
Auto-Owners Insurance83$ 176
Allstate75$ 216
Farmers69$ 291
Main Street America Insurance43$ 479

Best Renters Insurance for Military Families in South Dakota

The best renters insurance company for those with military backgrounds in South Dakota for $20K in personal property coverage is State Farm with an annual premium of $60. The two best providers are:

  • State Farm: MoneyGeek score of 91 out of 100 ($60 per year)
  • Allstate: MoneyGeek score of 80 out of 100 ($66 per year)

For military members, finding the best provider means prioritizing both customer service and affordability. Military members often have unique needs and might benefit from comprehensive coverage options combined with attentive service.

Company logo for State Farm
State Farm
MoneyGeek Score:
91/ of 100

Overview

State Farm is the best provider for renters with a military background in South Dakota, ranking first in affordability and overall best score. Their annual premium is $60.

State Farm offers cyber event and identity theft coverage, which can help restore your identity and cover costs related to cyber attacks.

Best Renters Insurance for Military Families in South Dakota
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State Farm91$ 60
Allstate80$ 66
Auto-Owners Insurance72$ 84
Farm Bureau67$ 92
Farmers65$ 91
Nationwide64$ 99
American Family61$ 105
Main Street America Insurance43$ 115

Best Renters Insurance for Bad Credit in South Dakota

State Farm is the best renters insurance company for homeowners with poor credit in South Dakota, with an annual premium of $119. The two best providers areL

  • State Farm: MoneyGeek score of 91 out of 100 ($119 per year)
  • Nationwide: MoneyGeek score of 90 out of 100 ($132 per year)

Rates for people with poor credit are often higher. Providers view these individuals as higher-risk due to their history of missed payments or financial instability. To lower rates, improve your credit and take advantage of discounts where possible.

Company logo for State Farm
Best for Bad CreditState Farm
MoneyGeek Score:
91/ of 100

Overview

In South Dakota, State Farm ranks first in affordability, with an annual premium of $1,271. However, it doesn’t hold the top spot in customer satisfaction or coverages.

State Farm offers a discount for bundling your renters and auto insurance, leading to substantial savings. Additionally, the discount for having protective devices such as smoke alarms or security systems can further reduce your premium. These discounts are particularly beneficial for renters with poor credit, helping make policies more affordable.

Best Renters Insurance for Bad Credit in South Dakota
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Credit Score:
Credit Score:Below Fair
State Farm90$ 99
Nationwide88$ 119
American Family86$ 160
Allstate84$ 92
Farm Bureau83$ 152
Farmers83$ 139
Main Street America Insurance75$ 147
Auto-Owners Insurance51$ 535

Average Cost of Renters Insurance in South Dakota

The average cost of renters insurance in South Dakota is $89 annually or $7 monthly, significantly lower than the national average of $146 annually. This means South Dakota renters pay $57 less per year compared to the national average. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.

The average cost of renters insurance in South Dakota may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of damage or theft. Use the tool below to get an estimate for your renters insurance based on your needs.

Renters Insurance Calculator

MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.

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Rates updated:

Nov 05, 2024

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Average Cost of Renters Insurance by City in South Dakota

The average cost for renters insurance not only varies by state but also by city. For example, in Sioux Falls, South Dakota, the average annual premium is $90, compared with the state average of $89. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, a $1,000 deductible and a good credit score.

Sioux Falls$ 90
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COMPARE QUOTES TO SAVE

Renters in South Dakota can save money on renters insurance by comparing quotes among providers. For $20K in personal property and a $1,000 deductible, State Farm offers the lowest annual premium at $60, while Main Street America Insurance is the most expensive at $115. By shopping around, renters can save $55 annually or $5 monthly.

What Factors Impact Renters Insurance Costs in South Dakota?

Multiple factors impact the cost of renters insurance in South Dakota, including location, coverage amount, and deductible. Understanding what influences these costs helps renters make informed decisions and manage their expenses effectively.

  • Location: The area where you live can affect your premium due to crime rates and weather-related risks.
  • Coverage Amount: Opting for higher coverage limits will typically increase your insurance costs.
  • Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out-of-pocket in case of a claim.
  • Claims History: Renters with a history of claims may face higher premiums due to perceived risk.
  • Credit Score: Insurance companies may use your credit score to determine your premium, with higher scores often leading to lower costs.

How Much Personal Property Coverage Do You Need?

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of all your personal items, including their descriptions and values. Follow these steps to create your personal inventory:

  1. Start With Big-Ticket Items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
  2. Document With Photos or Videos: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
  3. Include Receipts and Appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
  4. Store Information Securely: Keep your inventory list and supporting documents in a safe, accessible location, such as a cloud storage service.
  5. Update Regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.

Personal Property Coverage Calculator

When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.

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What Renters Insurance Typically Covers in South Dakota

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:

  • Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
  • Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
  • Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

  • Fire or lightning
  • Windstorm or hail
  • Explosions
  • Riots
  • Damage caused by aircraft
  • Damage caused by vehicles
  • Smoke damage
  • Vandalism
  • Theft
  • Volcanic eruption
  • Falling objects
  • Weight of ice, snow or sleet
  • Water-related damage from home utilities
  • Electrical surge damage

What Renters Insurance Typically Doesn't Cover

Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods typically falls outside standard policies. Here's what else is usually not included:

  • Natural Disasters: Standard policies often exclude events like floods and earthquakes.
  • High-Value Items: Expensive jewelry or electronics may exceed policy limits.
  • Business Equipment: Items used for business purposes may require additional coverage.
  • Roommate Property: Your policy does not cover your roommate's belongings.
  • Pest Damage: Infestations and damage from pests are generally not covered.
  • Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.

Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.

FAQ: Renters Insurance in South Dakota

Choosing the best renters insurance provider depends on your specific needs. In the following FAQs, we have answered common questions to help you make an informed decision about renters insurance.

What is the cheapest renters insurance company in South Dakota?
What is the best renters insurance company in South Dakota?
How much does renters insurance cost in South Dakota?
Is renters insurance required in South Dakota?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He 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.