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Finding South Dakota Insurance Quotes


For homeowners, drivers, and even renters in South Dakota, insurance quotes are often a ticket to savings. While many types of South Dakota insurance are pretty affordable to begin with, getting quotes is the only way to really know who is offering people in your particular situation the best rates available on the kind of coverage you want. Knowing what these quotes mean, where to find them, and how to compare one quote to another, however, is not always a walk in the park. The following information on South Dakota insurance quotes is going to make the process of finding the best policy for you easier, faster, and less of a hassle.

Why South Dakota Insurance Is Relatively Inexpensive

When examining two of the most popular types of insurance in the country (homeowners insurance, business insurance, life insurance and car insurance), it’s easy to see that for folks in South Dakota, insurance is much less of a burden than it is in other states. For an HO-3 policy (the nation’s most common type of homeowners insurance), South Dakota residents pay an average of $628 a year; this is far less than the national average of $804, and is even lower than neighboring North Dakota’s $742, Montana’s $666, Wyoming’s $648, Nebraska’s $783, and Missouri’s $707. Of all its neighbors, only Iowa’s average of $596 comes in lower. The numbers are even more impressive when it comes to auto insurance. South Dakota’s average of $534 a year is the third lowest in the country (right after neighboring Iowa’s $518 and North Dakota’s $512).

So, why are South Dakota insurance rates so low? It all comes down to risk factors. The low population density, low crime rate, and relatively low number of many other risk factors means that insurance providers in the Mount Rushmore State have to pay out less often on their policies; the less insurance companies have to pay out, the lower they can make their rates and still pull in a profit.

Lowering South Dakota Insurance Premiums

Just as reduced risk factors lower the average insurance premiums statewide, reducing your individual risk factors can reduce individual premiums. Increasing your deductible (the amount you pay out-of-pocket when an incident occurs) means that your insurance provider pays less per incident, lowering the rate they can offer you. Similarly, lowering the amount of coverage you have or the limits on your coverage also lowers your rate because the insurance company will not have to pay out in as many situations or pay as much per incident.

Neither reducing coverage nor increasing your deductible is an ideal tactic for the policy holder, because each can have a negative effect when an incident does occur. To lower your rates without increasing your deductible or reducing your coverage, you should look for other risk factors you can eliminate. For example, installing a monitored security system in your home reduces the risk of burglary, so insurance companies will lower your premiums when you install one; cars with anti-lock brakes and air bags are safer to drive, so insurance companies can offer lower rates to drivers operating vehicles with these features. There are many risk factors that, when eliminated, will reduce your rates, and talking to your provider about lowering your relative risk is often a productive way to lower your premiums.

South Dakota Insurance Quotes

Another effective way to lower your insurance costs is to change providers; this is why it is so important to get insurance quotes. South Dakota is home to many insurance providers, and each is likely to give the same individual in the same situation slightly different rates, and in some cases, two companies may offer nearly identical policies at significantly different prices. South Dakota insurance quotes are typically low to begin with, but when you compare multiple quotes from several different companies side-by-side, it is easy to spot who is offering the policy you want at the most affordable cost. Not every driver or homeowner will find savings of hundreds by getting multiple quotes, but the fact that some can is reason enough to make South Dakota insurance quotes tools worth seeking out.

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