Renters Insurance in Sioux Falls, SD

Nearly 40% of all homes in Sioux Falls, SD are occupied by renters. Whether you are an Augustana University student in an off-campus apartment, an executive renting a downtown loft, or a newlywed leasing a house in the suburbs, you can benefit from having renters insurance. 

Local independent agents can help you find the right renters insurance policy. These agents are able to work with several of the area’s best insurance providers to find you a good policy at a great price. Talk to an independent insurance agent near you to get more information about renters insurance.

Is Renters Insurance Required in Sioux Falls, SD?

For the most part, renters insurance is fully optional. There are a few instances where landlords will require their tenants to carry renters insurance, but most do not.

Whether or not it is required, renters insurance is well worth considering. These policies offer a wide range of coverage that can reimburse you for loss or damage to your personal property and protect your finances in other ways.

Unfortunately, despite its many benefits, more than 60% of tenants in this country do not carry renters insurance. This may be because many mistakenly believe that this coverage is too expensive.

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

The average cost of a renters insurance policy in South Dakota is just $123 a year. That is only about $10 a month, which is a very small price to pay for the peace of mind that a having policy can give you. Your actual cost for coverage will be based on factors like:

• The value of your personal property
• The crime rate where your home is located
• The amount of liability coverage you want to purchase
• Your claims history
• The size of your deductible

If you bundle your insurance with other policies, like car insurance or motorcycle insurance, you can often earn significant renters insurance discounts on all of your bundled policies.

Why Compare Renters Insurance Quotes in Sioux Falls, SD?

Insurance companies each have their own way of calculating rates. This means that you’re likely to receive a few different quotes if you ask for prices from a few different insurers.

Independent insurance agents can contact a selection of competing insurance providers to request customized quotes on your behalf. That way, you can choose the policy that is offered at the best price.

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What Does Sioux Falls, SD Renters Insurance Cover?

Renters insurance can offer you three types of coverage. These include:

• Contents coverage: This can cover repair or replacement costs if your personal property is lost or damaged by a covered hazard such as:
  • Fires, including accidental fires and wildfires
  • Water damage, unless it is caused by a flood
  • Property crimes like burglary and vandalism
  • Severe weather events including thunderstorms, windstorms, snowstorms, tornadoes, and hail
• Loss of use coverage: This can cover your additional living expenses if you are forced to seek alternate housing because a covered event has left your rented home unsafe for habitation. Until your landlord has made repairs and it is safe to return home, this insurance can cover things like:
  • Hotel or other accommodation costs
  • Moving and storage costs
  • Mileage reimbursement if you must drive further to get to work
  • A meal allowance if your accommodations do not have a kitchen
  • Pet boarding fees, if needed
• Renters liability coverage: This can cover expenses like legal fees, mediation costs, settlements, and judgments if you or someone in your household unintentionally causes someone else to suffer injuries, property damage, financial loss, or other harm.

Tornadoes are one of the biggest hazards facing Sioux Falls renters. Tornado activity in the Sioux Falls area is 93% greater than the national average. This city is threatened by an average of three twisters a year.

If your rental home is in the path of a tornado, you could potentially lose all of your belongings. That is why it is important that your contents coverage limits are high enough to enable you to replace everything and start over.

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Our independent agents shop around to find you the best coverage.

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What Is Not Covered by Sioux Falls, SD Renters Insurance?

As with any insurance policy, renters insurance has some exclusions. You should not expect your policy to cover:

• Damage to your vehicle: Damage to your parked vehicle can only be covered by including comprehensive insurance in your car insurance policy.
• Extermination costs: If your home is infested by pests like bed bugs, rodents, or cockroaches, your landlord is responsible for covering the cost of hiring an exterminator.
• Flood damage: This is true even if the flood is the direct result of a covered storm. Fortunately, very few properties in Sioux Falls are at risk for flood damage. If you feel your home is at risk, you can get coverage by purchasing a flood insurance policy.

What Are the Best Renters Insurance Companies in Sioux Falls, SD?

The best renters insurance companies in South Dakota are the ones that have a proven track record of providing reliable coverage, responsive customer service, and competitive prices.

Local independent agents have teamed up with some of the most highly rated insurers serving the Sioux Falls area. You can therefore rest assured that any policies your agent recommends to you are provided by trustworthy insurers.

How Can an Independent Agent in Sioux Falls Help Me Find the Best Renters Insurance?

If you are looking for a good renters insurance policy at a great price, a local independent agent can help. These agents are available to answer your coverage-related questions and can help you compare policies and quotes from a few competing insurance companies.

Set up an obligation-free consultation with an independent insurance agent in Sioux Falls to learn more.