Best & Cheapest Homeowners Insurance in Sioux Falls, SD June, 2024

Travelers offers the most budget-friendly homeowners insurance for residents in Sioux Falls, with an average annual quote of $1,676.

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Updated: 05 May 2024
Written by
Bob Phillips
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After conducting a thorough examination of homeowners insurance providers in Sioux Falls, SD, we found Travelers to be the most affordable option, with average annual rates of $1,676. However, it’s essential to consider that the best insurer for you may vary based on your specific circumstances and needs.

For instance, if your credit score is lower, Travelers still offers the most economical choice with an average annual premium of $2,854. Allstate, on the other hand, provides competitive rates of $2,120 per year for owners of older homes, along with comprehensive coverage.

Conversely, if you have a newly constructed home, Allstate becomes the most cost-effective option at $1,250 per year. For individuals with a history of claims, Farmers offers an understanding and affordable solution at $2,110 annually.

Moreover, if you possess valuable personal property requiring protection, Farmers emerges as the top choice, providing extensive coverage at a reasonable rate of $2,130 per year.

Our detailed analysis at Insuranceopedia aims to assist you in finding the ideal homeowners insurance coverage. By comparing customer ratings, analyzing personal experiences, and presenting comparison charts, we provide all the necessary information for you to make a well-informed decision.

How much is homeowners insurance in Sioux Falls, SD?

Travelers offers the most affordable homeowners insurance rate in Sioux Falls, SD, with an annual premium of $1,676.

As noted below, homeowners’ insurance rates in Sioux Falls are above the national average but slightly lower than the average rate for the state of South Dakota.

Area Average Monthly Rate
National $1,820
South Dakota $2,575
Sioux Falls $2,560

It’s crucial to understand insurance rates because they’re not uniform and can vary significantly based on various factors.

Cheapest Homeowners Insurance in Sioux Falls, SD

Our Methodology

To find the most affordable home insurance rates in Sioux Falls, we conducted a thorough analysis using data from various home insurance review sites. Some of these sites obtained rates from public filings sourced from Quadrant Information Services. We averaged these rates for this review, but it's important to note that each company's rates can fluctuate frequently and will be influenced by your specific circumstances. Our overall rating also takes into account my subjective opinion, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance policies. This combination of objective data and personal expertise ensures a comprehensive assessment of the available options.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in Sioux Falls, SD

Travelers is the most affordable overall option for homeowners insurance in Sioux Falls, SD, with an average annual rate of $1,676.

Company Annual Premium
Travelers $1,676
USAA $2,050
State Farm $2,379
Allstate $2,765
Auto-Owners $3,546

Your homeowners’ insurance policy price is influenced by several factors, including your location, the value of your home, and your claims history. Travelers offers a balanced combination of affordability and comprehensive coverage, making it a suitable choice for many homeowners.

Cheapest Homeowners Insurance In Sioux Falls If You Have an Older Home

Homeowners with older homes can find the most affordable rates with Allstate, averaging $2,120 per year.

Insurance Company Average Annual Premium
Allstate $2,120
Nationwide $2,203
USAA $2,672
State Farm $2,961
Auto-Owners $3,250

Older homes often come with unique risks and maintenance challenges, which can result in higher insurance costs. However, Allstate offers competitive rates and comprehensive coverage specifically tailored to address the needs of older homes, making it a reliable choice for homeowners seeking affordable and effective insurance solutions.

Cheapest Homeowners Insurance In Sioux Falls for Newly Constructed Homes

Homeowners who own newly constructed homes can find the most cost-effective solution with Allstate, offering an average annual rate of $1,250.

Insurance Company Average Annual Premium
Allstate $1,250
USAA $1,561
State Farm $1,737
Farmers $2,160
Auto-Owners $2,353

Newly constructed homes often have different insurance coverage needs compared to older homes, and Allstate offers affordable policies tailored to meet these requirements.

 

Cheapest Home Insurance In Sioux Falls for a History of Claims

Farmers provides a budget-friendly option for homeowners who have made claims in the past, with an average annual rate of $2,110. This makes it a suitable choice for those looking for affordable coverage despite their claims history.

Insurance Company Average Annual Premium
Farmers $2,110
Auto-Owners $2,563
State Farm $3,184
Allstate $3,710
Nationwide $4,340

Having a history of claims can indeed raise concerns for insurers and often result in higher premiums. However, Farmers believes in providing second chances and offers reasonable rates for homeowners with past claims, ensuring they can still access quality coverage without facing exorbitant costs.

Cheapest Home Insurance Rates In Sioux Falls for Lots of Personal Property

Homeowners with a significant amount of personal property can find the most affordable rates with Farmers, averaging $2,130 per year.

Insurance Company Average Annual Premium
Farmers $2,130
Allstate $2,358
USAA $2,678
State Farm $2,810
Auto-Owners $3,816

As your personal property increases, your coverage needs also rise, potentially leading to higher premiums. Farmers addresses this by providing extensive coverage at reasonable rates, ensuring that all your belongings are adequately protected without exceeding your budget.

Cheapest Homeowners Insurance If You Have Poor Credit

If your credit score is poor, Travelers provides the most affordable solution, with an average annual rate of $2,854.

Insurance Company Average Annual Premium
Travelers $2,854
Allstate $3,548
Auto-Owners $4,733
State Farm $6,240
Farmers $9,801

Your credit score is a significant factor in determining your insurance rates, as insurers use it to assess risk. Travelers understands the importance of offering fair coverage to everyone, regardless of their financial history or credit score.

Best Homeowners Insurance Companies in Sioux Falls, SD

Choosing the right homeowners insurance is more than just a necessity; it’s a strategic decision. Sioux Falls has a diverse history reflected in its unique homes and residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates is crucial.

To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Sioux Falls, SD. These companies were assessed based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Refer to our comparison chart below to find the perfect match for your home insurance needs.

Company Annual Premium
Travelers $1,676
USAA $2,050
State Farm $2,379
American Family $3,199
Allstate $2,765
Auto-Owners $3,546
Farmers $2,068

Average Home Insurance Rates by Zip Codes

The cost of homeowners insurance in Sioux Falls, SD can vary greatly depending on the ZIP code. Below are tables showing rates for different ZIP codes in Sioux Falls, as well as the cheapest and most expensive ZIP codes for annual home insurance premiums in the area.

ZIP Code Average Insurance Premium (Annual)
57103 $1,521
57104 $1,498
57105 $1,424
57106 $1,267
57107 $1,399
57108 $1,654
57110 $1,487

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
57105 $1,424
57106 $1,267
57107 $1,399

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
57103 $1,521
57104 $1,498
57108 $1,654
57110 $1,487

Average Home Insurance Rates in Sioux Falls, SD by Deductible Amount

The deductible you choose for your homeowners insurance policy significantly affects the premium rates in Sioux Falls, SD. Here’s a breakdown of how average home insurance rates vary based on different deductible amounts:

Deductible Amount Annual Rate
$500 $1,975
$1,000 $1,837
$2,000 $1,740

Average Home Insurance Rates in Sioux Falls, SD By Coverage Amount

One crucial factor that influences your insurance premium is the amount of dwelling coverage you choose. This represents the maximum amount your insurance company will pay to rebuild or repair your home in case of damage or destruction.

Below is a comparison chart illustrating the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $1,700
$250,000 $1,803
$300,000 $1,899
$350,000 $2,135
$400,000 $2,220

Average Home Insurance Rates in Sioux Falls, SD by Company

Here’s a comparison table showing the annual premiums from some of the top insurance providers in Sioux Falls:

Company Annual Premium
State Farm $2,379
Allstate $2,765
Farmers $2,068
Travelers $1,676
USAA $2,050
Auto-Owners $3,546
American Family $3,199
 

How Much is Homeowners Insurance for Other Cities in South Dakota?

Below is a detailed comparison chart that displays the cheapest companies and their annual premiums across various cities in South Dakota.

City Annual Premium
Brookings $1,674
Aberdeen $1,543
Rapid City $1,945
Buffalo $1,699

Getting Online Homeowners Insurance Quotes in South Dakota

Platforms like Insuranceopedia simplify the process of finding the best coverage for your needs with just a few clicks. By providing quick online quotes from a variety of top-rated insurers, Insuranceopedia allows you to easily compare rates.

Just enter your details, and let us do the work by presenting you with a selection of options tailored to your needs. This allows you to confidently choose a policy that offers the best value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Sioux Falls, SD ?

Travelers provides the most affordable home insurance in Sioux Falls, South Dakota, with an annual premium of $1,676.

What is the average cost of home insurance in Sioux Falls, SD?

The average cost for homeowners insurance in Sioux Falls, South Dakota, is approximately $2,560 per year.

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