Average car insurance cost in Sioux Falls, SD

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Based on an analysis by Insure.com, the typical car insurance expense in Sioux Falls, South Dakota is $1,997 annually. Furthermore, car insurance premiums in Sioux Falls are $283 less than compared to the state average in South Dakota and $102 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Sioux Falls, the average car insurance rates by age and gender, and the costs in Sioux Falls based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Sioux Falls. Keep reading to learn more.

Cheap car insurance companies in Sioux Falls

At an average of $1,313 per year with full coverage limits of 100/300/100, Nationwide provides the most affordable car insurance in Sioux Falls.

Ranked as the second most affordable company in Sioux Falls, Geico provides car insurance at $1,719 per year.

As previously noted, car insurance rates differ among companies due to variations in the factors used for calculating the rates. So, it is best to compare quotes from several insurers to secure affordable car insurance rates in Sioux Falls that align with your needs before selecting a policy.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Sioux Falls, South Dakota:

Read about the best car insurance companies.

Average car insurance cost in Sioux Falls by coverage limits

In Sioux Falls, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $413 per year (limits are 25/50/25)
• Liability only coverage: $451 per year (limits are 50/100/50)
• Full coverage: $1,997 per year (limits are 100/300/100)
• Non-owners coverage: $227 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Sioux Falls

The average car insurance rate for a female driver in Sioux Falls, South Dakota, is $1,981 per year.

While the rate for a male driver is $2,013 per year, which is $32 more than what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Sioux Falls

Car insurance rates in Sioux Falls, are highest for teens at $6,065 per year or $505 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $3,088 annually for their car insurance, which is $2,977 less than what teens pay for their insurance coverage.

In Sioux Falls, adult drivers pay an average of $1,960 per year for car insurance, while senior drivers pay $1,794 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Sioux Falls

Examining the trends in car insurance rates in Sioux Falls, South Dakota, there was an upward trend from 2022 to 2023. Between 2022 and 2023, rates increase overall by 49% or $653.

The table below illustrates the trend over the three years:

Conclusion

In conclusion, the insurance rates in Sioux Falls, are lower than the average insurance cost in South Dakota. Shopping around and taking advantage of available discounts, drivers in Sioux Falls can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.