Yankton Homeowners Insurance

Your Complete Guide to Yankton, SD Homeowners Insurance

Find the right homeowners insurance policy for you.

The county seat of South Dakota’s Yankton County, the city of Yankton is home to about 23,000 people. With its 14 municipal parks, abundance of affordable housing, and small-town feel, this city has a lot to offer its residents. If you are among the proud homeowners in Yankton, you will want to be sure to protect your investment with a reliable home insurance policy. Local independent insurance agents can help you obtain the best and most affordable coverage for your Yankton home. Contact an insurance agent near you to get started.

How Much Does Homeowners Insurance Cost in Yankton, SD?

You may be happy to learn that the average cost of homeowners insurance in the state of South Dakota is lower than the national average, and in Yankton, the average rate is even lower.

  • National average yearly premium: $1,173
  • South Dakota average yearly premium: $1,096
  • Yanktown average yearly premium: $963

Of course, you should expect your actual home insurance quotes to be different from the average rate shown above. That is because insurance costs are calculated on a case-by-case basis and are determined according to several different factors, such as:

  • The age, size, and value of your house
  • They type of home you are insuring (e.g., single-family detached home, mobile home, condominium, etc.)
  • The number of stories in your house and whether it has a basement
  • Your claims history and credit score
  • The crime rate and weather risks in the vicinity of your home
  • Whether you are bundling your coverage with other policies like car insurance or life insurance

Each insurance company has its own way of computing rates, so comparing a variety of quotes allows you to choose the home insurance policy that offers the best value for your money. Independent insurance agents in Yankton make comparison shopping easy.

Homeowners Insurance Covers Your Yankton Home and Personal Property

Your home insurance policy is designed to cover your house and the property in it against a number of hazards you are likely to face as a homeowner in Yankton. This includes damage caused by everything from fires to severe weather events. The tornado risk in Yankton is 84% higher than the national average. One of the most recent damaging tornadoes to strike in the area was an F4 twister that touched down about 25 miles from the Yankton city center. It caused several millions of dollars’ worth of damage to area homes and businesses.

  • Number of federally declared disasters in South Dakota: 65
  • Most common reasons for disasters in the state: Severe Storms and Wildfires
  • 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.

Major catastrophes can be devastating, but your home can also be damaged by smaller, yet more common, risks such as large hailstones, gusty winds, lightning, and heavy snows. Your home insurance is designed to reimburse you for these types of damage. It is important to keep in mind that home insurance does not cover against flood damage. Many residents of Yankton, particularly those close to the Missouri River, can benefit from supplementing their coverage with a flood insurance policy through the National Flood Insurance Program (NFIP). Your local insurance agent can help you get this coverage.

Yankton Homeowners Have Coverage against Burglary

While the burglary rate in Yankton is lower than the national rate, it is more than double the rate for the state of South Dakota. There are about 50 burglaries reported every year in this small city.

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in South Dakota: 1.66
  • Number of burglaries per 1,000 homes in Yankton: 3.91

Fortunately, if your house is broken into, your home insurance can reimburse you for your losses as well as for any damage the intruder may have caused. Your insurance agent can help you be sure that your most valuable property is sufficiently insured. Some homeowners need to purchase special endorsements or riders to cover things like collections or fine art. Keeping your doors and windows securely locked, leaving lights and a radio on while you are away from home, and using motion-sensitive outdoor lighting are just some of the many ways you can reduce your chances of being targeted by a burglar. 

Home security systems are among the most effective theft deterrents. That is why many insurance companies offer discounts to policyholders who have burglar alarms installed in their homes. Talk to your local insurance agent to learn more about this and other discounts you may qualify for.

Yankton Home Insurance Offers Personal Liability Coverage

Liability lawsuits can be financially draining, to the point that they could cause you to lose your home. That is why your homeowners insurance also provides you with personal liability coverage. This insurance is designed to cover court costs, legal defense fees, and damages if you are sued for a covered event. Some examples of times your homeowners liability coverage may be of use include:

  • If a guest in your home is severely injured in an accident that can be attributed to negligence of upkeep on your part
  • If your child or pet causes injuries or property damage to someone outside your household
  • If you accidentally hurt someone while outside your home, such as during a game of basketball at the local park
  • If someone accuses you of libel or slander 

If you wish to have more liability coverage than your home insurance can provide, you can also purchase umbrella insurance. This is a highly affordable way to boost all of your liability coverage. Your local insurance agent can help you acquire enough liability coverage to suitably protect your assets.

Coverage for Second Homes and Vacation Homes

If you own more than one home, you will need to be sure that all of your properties are covered by appropriate insurance policies.  Houses that do not serve as primary residences often have additional risk factors that insurance companies will take into consideration. These properties may, therefore, need specialized home insurance coverage. 

  • Vacation homes that are unused for several months out of the year have an increased risk of property damage. Your insurer may require you to have vacant home insurance during the times your vacation house is unoccupied.
  • Second homes that are occupied by tenants have higher liability risks and need to be covered by landlord insurance.

Your local independent insurance agent can help you find appropriate policies to cover all of your residential properties.

Let an Independent Insurance Agent in Yankton Help You

The easiest way to find the best insurance for your Yankton home is by working with a local independent agent. These agents work for you, not for a particular insurance company, so they are free to shop around to find you reliable coverage at a competitive price.

Contact an independent insurance agent with an office in or near Yankton to learn more. You can easily be comparing customized, competitively priced homeowners insurance quotes in no time.

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com