Are you looking for car insurance in Sioux Falls, SD? While insurance rates tend to be a little less than the national average in South Dakota, there is always room to save. Learn more about how insurance rates are calculated and how you can reduce your insurance costs.
Car Insurance Requirements, Sioux Falls, South Dakota.
Before you begin to shop around for the best insurance providers and rates in Sioux Falls, South Dakota, it is important to know the local insurance requirements. Auto insurance is a requirement, and all South Dakota drivers must have the following coverage:
- $25000 bodily injury liability coverage per person.
- $50000 bodily damage liability coverage per accident.
- $250000 property damage liability per accident.
Personal injury protection, or PIP, is not a requirement in South Dakota. However, it is important to keep in mind that these are the minimum insurance requirements. Some auto accidents can exceed this coverage, meaning you may have to come out of pocket to cover any other repair or medical costs. Consider how much it will cost to repair or replace your vehicle when determining how much insurance you may need.
Sioux Falls, South Dakota, insurance rates tend to be slightly less than average. However, certain factors, like your driving record or credit score can affect your rates.
Affordable Car Insurance in Sioux Falls, South Dakota
Auto insurance may be a requirement in Sioux Falls, South Dakota. You can find the best rates by comparing providers' reviews, prices, and claims processes. Here are a few of South Dakota's top providers:
- State Farm.
- Farmers.
- American Family.
- Progressive.
According to ValuePenguin, the cheapest provider for minimum coverage in Sioux Falls, South Dakota, is American Family with an average rate of $240 per month. State Farm is second-lowest, with an average rate of $251 per month. The cheapest insurance provider for full coverage is State Farm, with an average annual rate of $1,264. The second-lowest insurance is American Family, with an average annual rate of $2,211.
USAA is another good option for insurance in Sioux Falls, South Dakota. However, it is only available to policyholders who are active military members or who have a family member who is active military.
Factors That Influence Your Insurance Rates
Each driver will receive a price quote based on the following factors:
- Age.
- Gender.
- Marital status.
- Location.
- Driving history.
- Credit rating.
Age
Young drivers in Sioux Falls, South Dakota, pay the highest rates. According to The Zebra, teen drivers pay, on average, $5,452 per year. This is in comparison to drivers in their 60s who pay the lowest rates, with an average annual rate of $1,196 per year.
Even gender minimally affects how much you pay for insurance rates. Females pay, on average, $1,448 per year, and males pay an average rate of $1,482 per year.
Married drivers may receive a minimal discount on insurance rates. This is often due to married people being able to take advantage of discounts like multi-vehicle or multi-policy.
Your location within Sioux Falls, South Dakota, also makes a difference in your rates. Some zip codes have higher accident and theft rates. However, these differences tend to be small. You can usually make up for a zip code with a slightly higher rate by parking your vehicle in a garage or choosing an equipped vehicle with anti-theft equipment.
Driving History
Your driving history is a significant factor in calculating your insurance rates. Drivers with multiple violations, including speeding tickets or DUIs, can expect to pay the highest rates. The highest increase comes with a reckless driving charge with an average annual rate of $2,126 per year. Accidents can also increase your rates and whether or not you were at fault makes a difference in how much of an increase you can expect.
Credit Rating
Credit score can also influence how much you pay for auto insurance. Drivers with good credit scores usually receive better rates, with an average annual rate of $1,222. Drivers with low credit ratings pay, on average, $2,977 per year. Increasing your credit rating by even a few points can lead to discounts.
These are just a few of the factors that go into calculating your insurance rates. It is important to note that different insurance companies weigh these factors in different ways. This is why it is so important to compare quotes among providers. Additionally, you should compare prices again anytime your situation changes significantly.
Other Ways to Save on Insurance in Sioux Fall, South Dakota
Here are a few other ways you can save on your insurance rates:
- Inquire about available discounts: Discounts are a good way to reduce your monthly cost. Find out if you are eligible for certain discounts. This may include things like good student, multi-policy, or multi-driver discounts. Some insurance companies may also offer you a discount if you sign up and complete a defensive driving course.
- Consider the vehicle you drive: Some vehicles are more expensive to insure than others. When shopping for your new car, find out how much it will cost to insure before buying.
- Combine policies: If you own a home or have a camper, it usually makes sense to combine all of your policies with one provider.
- Compare rates routinely: Insurance companies often change their prices. A couple of months before your policy expires, find out what other providers are charging.
Being diligent and knowing how much you are paying in insurance can help you save. Try to compare prices at least once a year and look out for any existing policy increases. If you do decide to change your insurance provider, make sure you secure your policy before canceling the other. Auto insurance is a requirement in Sioux Falls, South Dakota, and driving without it can put you at significant financial risk.
Find the best car insurance rates in Sioux Falls, South Dakota, by comparing prices. It is also beneficial to know the factors that can influence your insurance rates to keep your rates low. Check this out if you need additional information, resources, or guidance on car insurance.
Sources:
Who Has the Cheapest Car Insurance Quotes in South Dakota? | ValuePenguin
Sioux Falls, SD Car Insurance | The Zebra
How to Get Car Insurance Quotes Without a Car | Caranddriver.com
Driving without Insurance: Everything You Need to Know | Caranddriver.com
Hearst Autos Research
Hearst Autos Research, produced independently of the Car and Driver Editorial staff, provides articles about cars and the automotive industry to help readers make informed purchasing choices.
