If you are a renter in the Mount Rushmore State–looking for information on renters insurance–you have come to the right spot. We’ve researched the average cost, discounts available, and more to give you the inside scoop. This guide is for you:
The Price For South Dakota Renters Insurance
Whether you’re renting a home or an apartment, insurance exists to protect your belongings. Rental insurance in South Dakota is more affordable than it is in almost any other state. According to our research, South Dakota renters pay $118 per year on average–37% less than the renters elsewhere. That means a worker earning South Dakota’s minimum wage has to clock in only 14 hours to pay for a year’s premium. Tally up the expense of replacing all, or even a few of your belongings, and it’s probably a lot more than $118. The numbers make it clear: getting renters insurance makes sense.
South Dakota Rental Insurance Coverage
In 2012, 3,258 burglaries were reported in South Dakota. Since the average loss per burglary in the U.S. is more than $2,000, being the victim of a break-in is not only upsetting, but can also be expensive.
We hope your apartment is never burglarized, but if it is, renters insurance can help cover the cost of replacing your stolen belongings. It also protects your personal property against a long list of perils, including fire, smoke, vandalism, explosion, hail, and more. Considering all of its benefits, you shouldn’t risk living without rental insurance.
Discounts for Renters in South Dakota
Where you live, the things you own, your claims history, and other factors go into determining how much you will be quoted for a policy. To help you save even more, see if you qualify for the following discounts:
- Multi-Policy: Bundle auto or another insurance plan with renters insurance and save.
- No Prior Claims: Save on your insurance bill if you have a clean claims record.
- Safety Devices: Installing safety systems like smoke alarms and security systems can result in premium discounts.
- Higher Deductibles: If you opt into a plan with a higher deductible, you’ll have a lower payment amount every month. Watch out for this though. Your deductible is something you’re responsible for paying if you file a claim.
Did You Know?
Of all South Dakotan residents, 32% are renters. Typically, they spend $698 per month for a two-bedroom apartment, but at $118 annually, most rental insurance premiums in South Dakota are a fraction of that. When you think of the peace of mind that comes with renters insurance, the cost seems like a small price to pay.
Get Expert Help
Sometimes talking to a real person can help to clarify any questions you have. Call [mapi-phone /] to speak with a South Dakota insurance expert.