South Dakota Renters Insurance

Find the right renter insurance policy for you.

Ann Herro, Insurance Expert Written by Ann Herro
Ann Herro, Insurance Expert
Written by Ann Herro

Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.


More than 60 percent of tenants lack basic renters insurance, even in South Dakota. Compared with the rest of the U.S., South Dakota rents are very affordable, and without renters insurance, the cost of recovering property and housing after a fire or other devastating event could be financially crippling. You can get quotes on a wide variety of renters insurance quotes to cover your belongings and liability risks against an unexpected calamity or crime.

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Renting in South Dakota

  • Median rent in the U.S. is $884, while median rent in SD is only $651.
  • The rental vacancy rate in SD is also low, at 5.6%.
  • Median rent-to-income ratio in SD is low as well, at only 16%.
  • Nearly one-third of all SD residents rent their homes.

A low rent-to-income ratio makes South Dakota a welcoming place for renters. Many residents work in mining, agriculture and manufacturing, living paycheck to paycheck. That makes it even more important to have the right renters insurance so that a fire or major storm doesn't cause insurmountable debt.

Who Needs Renters Insurance in South Dakota?

South Dakota State law does not mandate renters insurance, but some landlords may require proof of coverage as part of the rental agreement. Even if you don’t have to get renters insurance, you may still want to get it – it’s a good idea. 

Many tenants believe that if something happened to their rental home, the landlord's insurance would cover the loss of their personal belongings. However, you are financially responsible for any items you bring into the home, such as furniture, clothing, and electronics. 

The landlord's insurance policy only covers the building and any appliances owned by the landlord. Additionally, if a guest suffers an accident or a dog bite in your home, you could face a legal claim. Without renters insurance, the court settlement and your legal defense would fall on your shoulders, leaving you with thousands or hundreds of thousands of dollars to pay out of your future earnings and assets.

What Does Renters Insurance Cover?

Renters insurance is similar to homeowners insurance. It provides property and liability coverage against certain events. Unlike homeowners insurance, a renters policy covers only the property you keep inside the home, not the structure or the grounds. Examples of personal property include the following:

  • Furniture
  • Small appliances
  • Kitchenware
  • Curtains
  • Clothes
  • Computers
  • TVs

Covered events can include house fires, lightning strikes, wind damage, hail, burglary, theft, and vandalism. Most people keep about $20,000 worth of personal belongings in the home. Even if you buy most of your furniture second hand, the expense of replacing all of it at once could be difficult to manage. Renters insurance provides contents coverage, starting at $20,000. 

You can choose to increase this limit or to add extra endorsements for valuable items like jewelry, collectible items, and musical instruments. You can also choose whether you want replacement cost coverage for a slightly higher fee or whether you want actual cash value coverage, which takes depreciation into account.

Renters insurance policies often include renters liability coverage. This is an important protection against legal claims. If you accidentally cause bodily injury or property damage to a guest, delivery person or intruder in your home, you could be financially responsible. 

Liability coverage pays a portion of a court settlement as well as part of your legal defense. Lastly, your renters policy can include temporary housing coverage, which helps with relocation after a fire or other covered event makes your rental home unlivable.


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Is Renters Insurance Expensive in South Dakota?

The average price of a renters insurance policy is about $150 for the entire year. That amounts to about $13 per month. Of course, if you own a great deal of valuable property, you may need coverage that is more extensive. The following factors, and more, will influence your insurance quotes:

  • Where you live
  • The amount of contents coverage you are purchasing
  • The amount of liability coverage you are purchasing
  • Whether you own a pet
  • Whether you permit smoking in your home
  • The deductible you are requesting

Get the Renters Insurance Quotes You Need

The best way to make sure you get the right renters policy at the right price is to shop around. An independent agent can do the shopping for you. Agents in our network can access many different insurance companies to compare coverage and rates and find the appropriate quotes for you.

Contact an independent agent right here in South Dakota for the renters insurance that will keep you covered for when you need it most.

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