The Cheapest South Dakota Renters Insurance Companies 2020

With home prices on the rise, many people are renting homes and apartments instead of buying. At just $722 per month, rent is much cheaper in the Mount Rushmore State than the rest of the U.S., which averages $1,012. The Insurance Information Institute (III) shows that South Dakota had the lowest average renters insurance cost in the country as of 2017 at $123 a year compared to the national average at $180. Because renters insurance is so relatively affordable for the coverage it provides, it is a worthwhile investment.

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      Best rental insurance companies in South Dakota

      Most people have a lot of expenses, so most people want to find the most affordable renters insurance for the best coverage. To determine which companies are the best South Dakota renters insurance options, we analyzed companies based on their ratings from services like AM Best, which ranks providers based on how financially secure they are, and J.D. Power & Associates, which collects customer satisfaction data.

       
      AM Best
      J.D. Power
      Better Business Bureau (BBB)
      Allstate
      A+ (Superior)
      2 out of 5
      A+
      American Family Insurance
      A (Excellent)
      5 out of 5
      A
      Safeco
      A (Excellent)
      5 out of 5
      A
      State Farm
      A++ (Superior)
      5 out of 5
      A+

      Cheapest South Dakota renters insurance insurance: Safeco

      Out of the quotes we got, Safeco had the lowest rates. Customers can also lower their rates even more with Safeco’s discount options. You can get discounts for bundling insurance types, being a safe driver, taking an accident prevention course, driving less, having more than one car, having anti-theft devices on your car and owning your own home.

      Safeco has some of the most affordable rates and offers quality customer service. If you want to pair your renters insurance with auto insurance and you drive for a rideshare, Safeco might be a good option. Safeco has made a name for itself within the ridesharing space with special coverage for drivers of ridesharing companies like Lyft and Uber.

      Best South Dakota renters insurance for customer service – State Farm

      With State Farm, you can enjoy reliable coverage with great national availability. It comes paired with great affordability and high customer service ratings. State Farm also offers highly customizable coverage and has a user-friendly mobile app.

      J.D. Power Rating
      5/5
      AM Best Rating
      A++
      Standard & Poor’s
      AA
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore State Farm 4.2
      Discounts 3
      Coverage Options 5
      Customer Satisfaction 5
      Support 4
      Accessibility 4

      State Farm is top-ranked for the best customer service by J.D. Power, and its customers agree on sites like Consumer Reports and the Better Business Bureau that it is reliable for customer support.

      Best South Dakota renters insurance for mobile accessibility – Allstate

      Allstate offers great accessibility with its mobile apps for bills, property documentation and claims processing. Allstate is also an excellent option for people who would like to bundle their renters insurance with other policies.

      J.D. Power Rating
      2/5
      AM Best Rating
      A+
      Standard & Poor’s
      AA-
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore Allstate 4.2
      Discounts 5
      Coverage Options 5
      Customer Satisfaction 2
      Support 4
      Customer Satisfaction 5

      Allstate offers the best tools for online account management with two valuable mobile apps. Allstate Mobile is dedicated to account management, allowing you to access your policy information, pay your bill and file a claim.

      Best replacement coverage for South Dakota renters insurance – American Family

      AmFam provides replacement cost coverage, which will replace your lost or broken items with brand new items of a like kind. This can be excellent for people who are worried about their belongings depreciating in value and not having the money to replace items as they were.

      J.D. Power Rating
      5/5
      AM Best Rating
      A
      Standard & Poor’s
      N/A
      SimpleScore
      4.8 / 5.0
      close
      SimpleScore American Family 4.8
      Discounts 5
      Coverage Options 5
      Customer Satisfaction 5
      Support 4
      Accessibility 5

      American Family Insurance remains a top choice for renters insurance because it automatically includes replacement coverage for your lost or damaged items. This means that you will receive a replacement item of the same value and kind as the one you lost.

      These are the average annual rates for South Dakota renters insurance based on a sample policy of a $30,000 personal property coverage, a $500 deductible, $100,000 in personal liability and $100,000 in medical payments to others.

        • Safeco: $77
        • State Farm: $85
        • Allstate: $91
        • American Family Insurance: $108.31

      Frequently asked questions

      How much renters insurance you need depends on how much your belongings cost and how much your landlord requires. Landlords have the right to require renters insurance.

      While Safeco had the lowest rates based on our profile, your rate will depend on things like your location, car and driving history. Shop around to ensure that you have the best coverage at the cheapest price.

      No, your roommate is not covered under your policy unless you purchase additional coverage.

      South Dakota has strict requirements regarding rent in the state, but there are no minimum insurance requirements. Still, purchasing a comprehensive policy is always a good idea to protect your belongings.

      Methodology

      SimpleScore

      The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
      For every review, our editorial team:

      • Identifies five measurable aspects to compare across each brand
      • Determines the rating criteria for each aspect score
      • Averages the five aspect scores to produce a single SimpleScore™

      Here’s a breakdown of the five aspect scores and their rating criteria for our renters insurance reviews.

      Why do some brands have different SimpleScores on different pages?

      To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

      However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.

      Discounts

      We awarded higher scores to insurance providers with more discounts available on their website.

      Coverage Options

      We gave providers with more renter insurance coverage options a higher score because they’re more likely to have a policy that best meets your needs.

      Support

      We awarded higher scores to renters insurance providers with the most channels for customer support.

      Customer Satisfaction

      We leveraged the J.D. Power Home Insurance Satisfaction Study℠ to see how customers rated their experience with each insurance provider. (If a provider wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

      Accessibility

      We awarded higher scores to insurance providers that have more online and mobile features to easily manage your policy and claims.

      Lena Borrelli

      Contributing Writer

      Lena Borrelli is a Tampa-based freelance writer who has worked with leading industry titans, such as Morgan Stanley, Wells Fargo, and Simon Corporation. Her work has most recently been published on sites like TIME, ADT, Fiscal Tiger, Bankrate and Home Advisor, as well as many other websites and blogs around the world.