South Dakota Home Insurance rates are heavily affected by Hail and Wind. In the last four years every major city in the state has been hit by hail storms, some of them multiple times! The # I have been given is that if you took every dollar of property insurance premium paid in to insurance companies in 2008, 2009, 2010, 2011 and 2012 the insurance companies have paid out about $1.40 in claims for every $1.00 in premium. This has lead to rate increases, tightened underwriting, and some companies have left the state (stopped selling insurance here).
As an individual, the best things you can do are:
1. Watch your credit. Insurance rates are based somewhat on your credit information. The better credit you have the lower your rates will be.
2. Keep a high deductible. Insurance companies want to be there for you when you have a major claim, but they want you to handle the small stuff. Many people are changing to $2,500 deductibles.
3. Use impact resistant materials. The company I work for (American Family Insurance) offers a large discount for impact resistant shingles and certain steel roofs. There are other discounts for cement board siding (versus vinyl since it doesn't hold up well to hail).
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As an individual, the best things you can do are:
1. Watch your credit. Insurance rates are based somewhat on your credit information. The better credit you have the lower your rates will be.
2. Keep a high deductible. Insurance companies want to be there for you when you have a major claim, but they want you to handle the small stuff. Many people are changing to $2,500 deductibles.
3. Use impact resistant materials. The company I work for (American Family Insurance) offers a large discount for impact resistant shingles and certain steel roofs. There are other discounts for cement board siding (versus vinyl since it doesn't hold up well to hail).
Send me an email if you would like a quote!