Business Insurance in South Dakota FAQ - Quick Answers

While you can't know your exact business insurance premiums without custom quotes, you can understand what impacts your South Dakota coverage below:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

Your commercial coverage is not always mandatory, but in some cases, it can be. Business insurance is required in the following instances in South Dakota:

Your business insurance in South Dakota will be specific to your risk exposures. However, there are foundational policies that apply to most operations. Here are some policies that are common for businesses:

In South Dakota, general liability insurance is your primary policy and helps protect your business in the following way:

Health insurance plans in South Dakota are only mandatory for businesses with 50 employees or more. However, you may want to offer benefits to your team, in which case, health coverage can be quoted through a local adviser.

In South Dakota, Hiscox, Nationwide, and Hanover are common carriers used for business insurance among peers. These insurance companies are highly rated due to their superior coverage offerings and claims service.

Do You Know What Your Business Insurance Covers in South Dakota?

Find the Best Business Insurance in Your City

National Business Insurance Stats

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. of businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Aberdeen2,6014.051.52
Belle Fourche8611.250.89
Box Elder5165.362.48
Brandon1,0660.390.09
Brookings1,8641.130.69
Madison1,0922.120.66
Rapid City7,4956.394.19
Sioux Falls15,0833.743.55
Spearfish1,6662.450.84
Sturgis87330.72
  1. Sioux Falls, SD
  2. Business Insurance Common Coverage Options
  3. Property: Did you know that the property crime rate in Sioux Falls is higher than the national average? Property insurance in less safe areas can sometimes be more expensive, so keep it in mind when you're looking at insurance options. 
  4. Commercial auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Rapid City, SD
  2. Business Insurance Common Coverage Options
  3. Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. The crime rate in Rapid City can also affect your coverage rates.
  4. Commercial auto: Your commercial auto insurance rates will be based on several factors like the number and types of vehicles you are covering. Plus, the average risk of collisions and auto theft in your city will impact rates.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Aberdeen, SD
  2. Business Insurance Common Coverage Options
  3. Property: Average rates are to be taken with a grain of salt, but they can affect how much you pay. Your insurance should also consider weather risks, property crimes, and unexpected fires. All of these events can lead to large business losses if you do not have the right insurance.
  4. Commercial auto: Does your business own a vehicle or two? If so, you need commercial auto insurance. It's important to keep your cars and employees safe from theft, accidents, and any other unexpected car-related incidents.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Brookings, SD
  2. Business Insurance Common Coverage Options
  3. Property: What do severe weather, property crime, and flooding have in common? They can all cause serious business losses if you don't have the right insurance coverage. 
  4. Commercial auto: Your company cars need protection from accidents and crime. Get with a professional to receive comprehensive insurance so you can have peace of mind and financial protection if something unexpected happens.
  5. Workers’ Compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Watertown, SD
  2. Business Insurance Common Coverage Options
  3. Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. The crime rate in Watertown can even affect your coverage rates. 
  4. Commercial auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. But take note: Rates will be calculated based on a variety of factors like the makes and models of the vehicles you are covering and the risk of auto theft in your neighborhood.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Mitchell, SD
  2. Business Insurance Common Coverage Options
  3. Property: Your property can be damaged in a number of ways. A bad storm can damage the roof, a thief can steal personal property, and a busted pipe can cause flooding. 
  4. Commercial auto: Commercial auto insurance doesn't have to be complicated. Get competitive rates that are based on factors like the types of vehicles you are covering and the risk of collisions in the area. That way, it's unique and customized to your needs.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Yankton, SD
  2. Business Insurance Common Coverage Options
  3. Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. When you look at insurance, consider the crime rate in Yankton. This rate can affect your coverage rates and help you decide how much protection you need.
  4. Commercial auto: Your commercial auto insurance should be customized, comprehensive, and affordable. Several factors will be taken into account to find coverage that addresses all your risks and considers geographic features.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Pierre, SD
  2. Business Insurance Common Coverage Options
  3. Property: Do you know how commercial property insurance should be calculated? The area's crime rate, weather risks, and building details are taken into account to find the right policies and limits that work for you. 
  4. Commercial auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Huron, SD
  2. Business Insurance Common Coverage Options
  3. Property: Your business could suffer large financial losses if you do not have the right insurance. Consider the crime rate in Huron, and find out what the right amount of protection is for the real risks you face.
  4. Commercial auto: Commercial auto insurance rates vary depending on the number and types of vehicles you are covering, the risk of collisions, and the average amount of auto theft in your city.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Vermillion, SD
  2. Business Insurance Common Coverage Options
  3. Property: Average rates are to be taken with a grain of salt, but they can significantly affect how much you pay for coverage. Your insurance should also consider weather risks, property crimes, and unexpected fires. All of these scenarios can lead to large business losses if you do not have the right insurance.
  4. Commercial auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most South Dakota employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.