Sioux Falls Homeowners Insurance

Your Complete Guide to Sioux Falls, SD Homeowners Insurance

Find the right homeowners insurance policy for you.

The most populous city in South Dakota, Sioux Falls is home to about 187,000 people. With its many beautiful parks, strong economy, and diverse neighborhoods, this city is a great place to put down roots and raise a family. If you own a house in this South Dakota city, you will want to be sure that your investment is covered by a reliable home insurance policy. When you are shopping for the best coverage for your home, a local independent insurance agent can help. Find an agent near you to learn more.

How Much Does Homeowners Insurance Cost in Sioux Falls, SD?

Rates for home insurance in Sioux Falls are generally higher than throughout much of the state. Let’s look at a rate comparison:

  • National yearly premium average: $1,034
  • South Dakota yearly premium average: $1,096
  • Sioux Falls, SD yearly premium average: $1,215

Of course, rates are calculated on an individual basis so your cost may be higher or lower than this average. Insurance companies base their prices on a variety of factors such as: 

  • The age, size, and value of your home
  • The crime rate and weather risks in the ZIP code in which your house is located
  • Your home’s proximity to a fire station and/or fire hydrant
  • Your claims history and credit score
  • Whether you are bundling your coverage with other policies like car insurance or business insurance

Each insurance company has its own way of calculating rates, so it is a good idea to compare quotes from a few different companies before making a purchase. That way, you can be sure that you are not overpaying for your coverage. Independent insurance agents make comparison shopping easy.

What Hazards do Sioux Falls Homeowners Face?

There are a number of ways that your Sioux Falls home may sustain damage. These include residential fires, property crimes, and severe weather events. Let's look at some statistics:

  • Number of declared disasters in South Dakota:  59
  • Average number of tornadoes per year in South Dakota:  32.6
  • Average amount of property damage per year in SD: $93.3 million
  • 1 in 15 insured homes has a claim each year.

Your home insurance policy is designed to provide coverage against many of the risks you are likely to face as a homeowner in this city.  Your local independent insurance agent can help you review your property coverage limits so you can be sure that they are high enough to enable you to rebuild and replace following a catastrophic event. Some homes in Sioux Falls are prone to flooding. Unfortunately, flood damage due to rising waters is excluded from home insurance coverage. Talk to your independent agent to learn how a flood insurance policy through the NFIP can provide you with the full protection you need. 

What Is the Risk of Burglary in Sioux Falls, SD?

The burglary rate in South Dakota is lower than the national average, but in Sioux Falls, the rate is slightly higher. This city sees around 900 burglaries a year. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in South Dakota: 3.47
  • Number of burglaries per 1,000 homes in Sioux Falls: 4.96

In the event that your Sioux Falls home is burglarized, it may comfort you to know that your homeowners insurance policy can provide compensation for your losses. Many insurance companies offer policy discounts if you have a burglar alarm installed in your home. Your independent agent can help you find these and other potential discounts.

Liability Coverage for Homeowners in Sioux Falls

In addition to covering your property, your homeowners insurance policy provides you with personal liability insurance. This is very important because, without it, an expensive liability lawsuit could lead to the loss of your home. Your homeowners liability insurance is designed to cover court costs, legal fees, and damages if you are sued for a covered event.

Examples of times that homeowners liability insurance can come to your rescue include: if someone is seriously injured due to negligence of upkeep on your property; if your pets or children cause injuries or property damage to others; if you accidentally injure someone while away from home, such as while playing sports in the park; and if you are accused of libel or slander. Talk to your insurance agent to learn more about the many ways that the liability coverage included in your Sioux Falls home insurance policy can protect you.

Second Home and Vacation Home Insurance

If you own more than one residential property, there are additional factors to consider when insuring an extra home. Your independent agent can help you find the right coverage to make sure that your second home or vacation house is sufficiently covered. Vacation homes that are left unoccupied for long periods frequently have higher risks of property damage due to risks such as water leaks, pest infestations, or property crimes and need to be covered by vacant home insurance. Homes that are occupied by tenants have high liability risks and need to be covered by landlord insurance. Regardless of your particular situation, an independent agent can help you find the right insurance products for all of your residential properties.

Why Work with an Independent Insurance Agent in Sioux Falls?

Independent insurance agents live near you so they understand the risks you face as a homeowner in Sioux Falls. These agents make it easy to find the best home coverage available because they can work with a number of reputable insurance companies. That way, you can compare a variety of customized quotes and make a selection. 

Find an insurance agent in or near Sioux Falls to get started.

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