HomeInsuranceQts

Home Insurance in South Dakota

South Dakota's median home value is $257,400.

The typical home in South Dakota was built around 1980. About 28% of homes were built before 1960. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.

In South Dakota, the housing stock is 71% single-family homes, 16% apartments in buildings with 5+ units and 7% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.

54% of owner-occupied homes in South Dakota carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.

The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 69% of occupied homes in South Dakota are owner-occupied.

In South Dakota, 48% of homes are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.

The statewide average premium for a standard HO-3 homeowners policy in South Dakota is $1,614 per year, according to the NAIC homeowners insurance report (2023 data).

Key figures

Median home value$257,400
Median year built1980
Owner-occupied share69%
Share of owner-occupied homes with a mortgage54%
Home insurance premium$1,614 - statewide average (NAIC, 2023 data)

Counties

Sources