Average homeowners insurance cost in Sioux Falls, South Dakota

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Our data shows that the average cost of homeowners insurance in Sioux Falls is $3,162 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1,000 deductible). It’s $580 more than the national average of $2,582 .

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Sioux Falls depend on several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide for more info on how much homeowners insurance costs per month in Sioux Falls, home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Sioux Falls.

Key Takeaways

The average cost of homeowners insurance in Sioux Falls is $3,162 per year.
Auto-Owners is the cheapest homeowners insurance company in Sioux Falls with an average annual premium of $1,877 .
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $834 more a year for home insurance.

Average homeowners insurance cost per month

How much you pay for a homeowners insurance policy depends on the value of your home, your location, and the coverage options you select.

Homeowners in Sioux Falls pay an average of $264 per month. It’s $17 less than the state average of $281 and $49 more than the national average for home insurance across the nation.

Average homeowners insurance cost for a $200,000 house

Homeowners insurance with $200,000 in dwelling coverage and $100,000 in liability protection costs about $2,328 per year in Sioux Falls. Your rate can vary based on a number of factors, especially the risk of natural disasters in your area. Places more prone to floods, hurricanes, or tornadoes often face higher rebuilding costs, which leads to higher insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damage. So, if you live in an area prone to flooding, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house

As per rate analysis by Insure.com, homeowners residing in Sioux Falls typically pay an average of $3,162 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $834 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Sioux Falls by company

Among the carriers we analyzed, Auto-Owners is the most affordable homeowners insurance company in Sioux Falls. Its average annual rate for homeowners in Sioux Falls is $1,877 , while Allstate ranks second.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Sioux Falls and compiled a list of the most affordable home insurance companies.

Below are details of Sioux Falls home insurance companies and their average annual premiums.

Home Insurance Company	Annual rate
Allstate	$2,680
North Star Mutual	$2,690
Farmers Mutual Ins Co of NE	$2,754
Iowa Farm bureau	$2,924
State Farm	$3,156
Nationwide	$3,211
American Family	$3,390
Auto-Owners	$1,877
Farmers	$4,038
USAA*	$2,925

*USAA is only available to military community members and their families.

Combining your home insurance with other policies, like auto insurance, can result in significant savings. Insurers often provide discounts to policyholders who bundle their policies, helping you reduce premiums. Bundling lowers your premiums and simplifies managing your insurance with one company.

Natural disasters in South Dakota that can impact your home insurance

Living in South Dakota means facing the risk of natural disasters that can seriously damage your home and belongings. These events can lead to expensive repairs and major insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

Being aware of your local risks helps you choose the right level of protection, from setting appropriate coverage limits to deciding on deductibles or adding extra coverage. Taking the time to tailor your policy to those risks can help you avoid being underinsured and give you peace of mind if you’re impacted by a natural disaster.

South Dakota is commonly affected by Cold wave and Winter weather.

How home insurance protects you against natural disasters

Home insurance is an essential safeguard for your financial well-being, offering protection if you’re affected by a natural disaster. Natural disasters can lead to costly damage, but the right policy can help cover the cost of repairs, sparing you from major out-of-pocket costs. In many cases, home insurance also pays for temporary living expenses if you can’t live in your home.

However, not all natural disasters are covered under a standard home insurance policy. For example, flood and earthquake damage are excluded and require separate coverage. That’s why it’s so important to understand the specific natural disaster risks in your area. By doing so, you can choose a policy that truly protects your home – and your finances – from the threats that are most likely to affect you.

Check for coverage gaps before it’s too late

Many homeowners find out too late that their insurance doesn’t cover certain natural disasters. Be proactive – review your policy, ask your insurer about disaster-specific exclusions, and explore additional protection if you’re in a high-risk zone.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Sioux Falls for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.