Drivers in Sioux Falls, South Dakota are required by law to have auto insurance. This coverage is particularly important because even the best drivers can sometimes get into accidents. From fender benders on Kiwanis Avenue to multi-vehicle collisions on I-29, a solid car insurance policy can protect your finances by covering the associated costs.
Finding the best auto coverage is easy when you work with an independent insurance agent. Contact an insurance agent near you to start comparing customized car insurance quotes.
How Much Does Car Insurance Cost in Sioux Falls, SD?
To get a general idea of what you might be expected to pay for your coverage, let’s look at a few statistics:
- National average cost per year: $1,311
- South Dakota average cost per year: $1,180
- Sioux Falls average cost per year: $991
Of course, actual rates can vary significantly from one policyholder to the next depending on the risk they present. A 20-year old man with a sports car is likely to pay more than an experienced driver with a minivan. The only way to know how much a policy will cost you is to request quotes from a few insurers.
Insurance companies base their rates on several factors, including:
- The make, model, year, and safety features of your car
- Your driving record and claims history
- The coverage options you wish to include in your policy
- The amount of liability coverage you want to purchase
- The size of your deductible
Because each insurance company is likely to quote you a different cost for your premiums, comparison shopping is a great way to save money on your car insurance. Independent agents in Sioux Falls can help.
How Much Car Insurance Coverage Is Required in Sioux Falls, SD?
Sioux Falls drivers are required by state law to carry car insurance that meets or exceeds South Dakota’s minimum requirements.
- Bodily injury liability: Required
- Property damage liability: Required
- Personal injury protection (PIP): Not required
- Uninsured motorist coverage: Required
- Minimum liability limits: 25/50/25; coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 per individual; and $25,000 coverage for property damage.
South Dakota’s minimum liability coverage requirements are designed to be high enough to cover the costs associated with most vehicle accidents. However, more serious collisions — particularly those that result in significant injuries— are likely to exceed these limits. If that happens, you will be expected to make up the difference out-of-pocket.
That is why many drivers in Sioux Falls purchase liability coverage at limits that are higher than the state requires. An independent insurance agent can help you compare costs for different levels of coverage so that you can make an informed decision when purchasing a policy.
Number of Uninsured Motorists in South Dakota
The state imposes tough penalties on drivers who are caught operating vehicles without insurance. This includes a $100 fine, 30 days in jail, suspension of your driving privileges for up to one year, and the requirement to submit proof of insurance for three years.
Despite this, a significant number of people in this state still get behind the wheel without coverage.
- How many US drivers are uninsured? 12.6%
- How many South Dakota drivers are uninsured? 7.7%
If you are involved in a collision that is the fault of an uninsured driver, that person is responsible for compensating you for your damage and any necessary medical treatment. Unfortunately, even with a court order, it can be extremely difficult to collect this money.
Uninsured motorist insurance, which is required in South Dakota, ensures that you will have the compensation owed to you if you are in an accident with an uninsured, underinsured, or hit-and-run driver. Your insurance company will absorb the costs if they are unable to collect the money owed from the at-fault driver.
Number of Auto Thefts in Sioux Falls, SD
The auto theft rate in South Dakota is lower than the national average. But in Sioux Falls, where more than 600 vehicles were reported stolen in 2017, it is higher.
- National number of auto thefts per 1,000 vehicles: 2.94
- South Dakota number of auto thefts per 1,000 vehicles: 1.14
- Sioux Falls number of auto thefts per 1,000 vehicles: 3.53
In order to be compensated for a stolen vehicle, you must have comprehensive, or “other than collision,” insurance included in your policy. This optional insurance can also cover other types of non-collision-related damage such as that caused by falling objects, floods, fires, and vandalism.
Why Work with an Independent Insurance Agent in Sioux Falls?
Vehicle owners in Sioux Falls can save money on their auto insurance by shopping for coverage through an independent insurance agent. These agents can work with a variety of reputable insurance providers to help you find the best policy to meet your coverage and budgetary needs.
Find an insurance agent near you to start comparing quotes.