Average homeowners insurance cost in Sioux Falls, SD

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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 $1000 deductible), based on Insure.com’s rate data analysis. It’s $580 more than the national average of $2,582.

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Sioux Falls depend on a number of 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 to know how much homeowners insurance cost per month in Sioux Falls, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Sioux Falls.

In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Sioux Falls.

Key takeaways

In Sioux Falls, homeowners insurance costs $3,162 annually.
Auto-Owners offers the most affordable homeowners insurance in Sioux Falls with an average annual premium of $1,877.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $834 higher.

Average homeowners insurance cost in Sioux Falls per month

Sioux Falls homeowners pay an average of $264 a month, based on our rate analysis. It’s $17 less than the state average of $281 and $49 more than the national average for home insurance across the United States. The price of your homeowners insurance policy in Sioux Falls may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house in Sioux Falls

In Sioux Falls, SD, homeowners pay an average of $2,328 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

Average homeowners insurance cost for a $300,000 house in Sioux Falls

According to a rate analysis by Insure.com, homeowners in Sioux Falls pay an average of $3,162 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

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. It would be best to buy enough insurance to cover the full 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 analyzed, Auto-Owners is the cheapest homeowners insurance company in Sioux Falls. It’s average annual rate for Sioux Falls homeowners is $1,877. Allstate ranks second and North Star Mutual makes it to the third spot with an average annual home insurance rate of $2,690.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Sioux Falls and prepared a list of the cheapest home insurance providers. You can find below the Sioux Falls home insurance companies and their average annual premium.

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

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 $1,000 deductible. The data presented are those with a good credit tier alignment.