South Dakota

South Dakota's insurance code was adopted in 1966. The Division of Insurance in South Dakota supervises and oversees insurance firms, other affiliated insurance industry entities, and insurance agents who do business in the state under Title 58, the Insurance Code and supporting administrative rules. This regulatory monitoring guarantees that all entities in the state are legally licensed and/or registered and functioning in accordance with state laws and standards.

Business Insurance

South Dakota, the Mount Rushmore State, has approximately 85,000 small enterprises, accounting for 99 percent of all firms in the state. Thus, the state requires those businesses to have the following types of Business Insurance:

1. South Dakota Business Owners Insurance
2. Professional Liability Insurance in South Dakota
3. Data Breach Insurance in South Dakota
4. Workers' Compensation Insurance in South Dakota

Auto Insurance

South Dakota law requires anybody who licenses and/or runs a motor vehicle to demonstrate proof of financial responsibility. Most people meet this requirement by getting auto insurance. Bodily Injury Liability ($25,000 per person and $50,000 per accident), Property Damage Liability ($25,000 per accident), Uninsured ($25,000 per person and $50,000 per accident), and Underinsured ($25,000 per person and $50,000 per accident) Motorist Coverage (UM/UMI) are state-mandated auto insurance coverages.

Property Insurance

According to 2022 rate data from Quadrant Information Services, the average yearly cost of property insurance in South Dakota is $2,126 for $250,000 in dwelling coverage. This is significantly more than the national average cost of $1,393 per year for the same coverage quantity. However, Findalowrate provides affordable coverage to safeguard your house and valuables whether you reside in Pierre, Sioux Falls, or somewhere else in South Dakota.

Life Insurance

The state of South Dakota provides $25,000 in Basic Life Insurance coverage to each covered employee. Employees cannot port their Basic Life coverage, although they can convert it if they leave the state. The state also covers Accidental Death and Dismemberment (AD&D) insurance.

Special Events Insurance

If you're organizing a special event to mark a significant occasion, you'll want to make sure everything stays on track. South Dakota special events insurance shields event organizers from third-party disputes and is frequently required by venues. The average price in the state is less than $59 per event. If you have decided to keep your celebrations safe, Findalowrate can help you get a quick quote and protect your event.