Home Insurance in Philip, South Dakota
Homes in Philip carry a median value of $182,100 - 11% higher than the Haakon County median.
The typical home in Philip was built around 1983. About 34% of homes were built before 1960, about 3 points below Haakon County's 37%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Philip is 60% single-family homes, 10% apartments in buildings with 5+ units and 26% mobile or manufactured homes.
33% of owner-occupied homes in Philip carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Philip has an owner-occupancy rate of 71% and a vacancy rate of 24%; unoccupied homes typically need a different coverage form.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Philip, 56% of homes are primarily heated with electricity.
Haakon County's top FEMA-rated hazard is wildfire (Relatively Low), per FEMA's National Risk Index. Haakon County had 4 active NFIP flood policies as of September 2026. See the full Haakon County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in South Dakota carries a statewide average premium of $1,614 per year.
Key figures
| Median home value | $182,100 |
|---|---|
| Median year built | 1983 |
| Owner-occupied share | 71% |
| Share of owner-occupied homes with a mortgage | 33% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Haakon County | 4 |
| Home insurance premium | $1,614 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)