When examining the national figures for home insurance, South Dakota is a great place to be. South Dakota home insurance quotes are not only lower than those nationwide, they are lower than those of most of the surrounding states, too. Of course, understanding what insurance quotes mean, how they are determined, and where to find them are each important for anyone looking to find the best policy at the most affordable rate. Here are a few things to think about when shopping for South Dakota home insurance, and a couple tips on lowering your rates without sacrificing the amount of coverage you have, or the amount you'll pay out of pocket when making a claim.
Just How Affordable Is South Dakota Home Insurance?
There are several types of homeowners insurance policies offered by most insurance providers; the most popular coverage nationwide is known as the HO-3 policy. Nationally, the average cost of an HO-3 policy is $804 a year, but in South Dakota, home insurance policies of this type average a far more affordable $628. In fact, of the six neighboring states, only Iowa's average of $596 a year is lower.
Why South Dakota Home Insurance Is So Affordable
There are many considerations that go into determining insurance quotes and yearly insurance rates, but all of them revolve around a central question: How much are insurance companies likely to pay out for a particular policy. Various risk factors like the distance to the nearest fire hydrant, the amount of crime in an area, and the local population density all play a role, as do other factors like the assessed value of the property and its contents. From Rapid City to Sioux Falls, South Dakota home insurance is positively affected by many of these factors and negatively affected by few, making the amount insurance providers are likely to pay out on individual policies lower and allowing them to give more homeowners lower rates.
Getting South Dakota Homeowners Insurance Quotes
The fact is: Different companies assess the relative risk of individual situations differently. This means that one homeowner can be offered different rates for the same amount of coverage. The difference between one company's rate and another's is sometimes negligible, but in some cases, the difference can be hundreds of dollars a year. The only way to know what companies are charging for the policy you want, however, is to ask. This is where quotes come in.
For folks in South Dakota, home insurance quotes are an excellent tool for glimpsing the possible savings you can get by changing insurance providers. The more quotes you get, the better your chances of finding a provider offering rates that are cheaper than your current one. Of course, you can take the time to call several different insurance companies and get quotes one at a time, but since services like NetQuote can give you multiple quotes from providers in your area without the hassle of making multiple phone calls (or dealing with hard sell tactics.) many have found using NetQuote to be the easiest, most convenient way to find lower insurance rates.
Lowering South Dakota Home Insurance Premiums
You don't always have to switch providers to get a better deal on insurance in South Dakota. Homeowners insurance quotes are certainly an effective tool, but if you like the company you are with, you should ask your provider about discounts you may already qualify for. Have you recently installed a burglar alarm? There's a discount for that. Just put on a new, fireproof metal roof, upgraded an old electrical system, or turned 55? There are often discounts available for those, too. Even not making claims on your policy for several years can lead to lowered rates. Homeowners insurance is something that most folks don't want to go without, but if you don't check quotes from the competition or take advantage of available discounts, there's a very good chance you're paying too much.