Owning a rental property in South Dakota can be a great investment—but only if you’ve got the right protection in place. From blizzards to tenant damage, landlord insurance in South Dakota helps you stay covered when things go sideways.
Whether you’re renting out a house in Sioux Falls or a small apartment complex in Rapid City, here’s what you need to know about landlord insurance: what it covers, how much it costs, and how to pick a solid policy.
Why Landlord Insurance in South Dakota Matters
Homeowners insurance won’t protect your rental property the way landlord insurance does. You need a policy that covers the risks landlords actually face—property damage, lawsuits, and loss of rental income.
South Dakota landlords deal with freezing winters, severe wind and hail, and liability claims from tenants or guests. Don’t rely on the wrong policy and get stuck footing the bill.
What’s Included in a South Dakota Landlord Policy?
Property Damage
Covers your rental building against damage from blizzards, hail, fire, theft, and vandalism—especially important with how unpredictable winters are here.
Liability Coverage
If someone gets injured on your property, this helps cover legal fees, medical bills, and settlements if you’re sued.
Loss of Rental Income
If a covered event (like a frozen pipe burst) forces your tenant to move out, this helps replace your rental income while repairs are made.
Optional Add-Ons
- Flood insurance (required if your property is in a floodplain)
- Equipment breakdown (covers things like boilers, HVAC units, etc.)
- Umbrella coverage for extended liability protection
- Short-term rental endorsement — compare rental strategies
How Much Does Landlord Insurance Cost in South Dakota?
Most landlords pay between $850 and $1,600 per year, but pricing depends on:
- Location (rural vs. city)
- Property type, age, and materials
- Coverage amount and deductible
- Whether it’s short-term or long-term rental
You can reduce your premium by bundling policies, raising your deductible, or keeping up with property maintenance.
Top Landlord Insurance Option in SD
We recommend Steadily. It’s built for landlords—no gimmicks, no sales pitch. Just fast quotes and solid coverage.
- Online quotes in minutes
- Covers LLC-owned and individually owned properties
- Ideal for single-family, multi-family, and short-term rentals
- Clear pricing and coverage without hidden gaps
Common Insurance Claims from South Dakota Landlords
Frozen Pipes & Ice Damage
With subzero temps common in winter, frozen and burst pipes are a major cause of damage in older homes.
Wind & Hail
South Dakota sees frequent hailstorms and high winds—especially across the plains. These can destroy siding, roofs, and windows.
Liability Claims
Think icy sidewalks or rickety staircases—if someone gets hurt and sues, liability coverage keeps you from paying out of pocket.
Tips to Lower Your Landlord Insurance Costs
- Raise your deductible
- Bundle with auto or other property insurance
- Stay on top of maintenance and fix hazards early
- Require tenants to carry renters insurance
- Install smart smoke detectors and leak sensors
FAQ: Landlord Insurance in South Dakota
Is landlord insurance required?
No, but most mortgage lenders require it. And you’ll want it either way—repairs from snow or tenant damage aren’t cheap.
Is flood insurance included?
No. You’ll need to purchase a separate policy if your property is in a flood-prone area.
Does landlord insurance cover tenant belongings?
Nope. That’s what renters insurance is for. You can require your tenants to carry it.
Final Thoughts
Landlord insurance in South Dakota is your financial shield. Whether you’re dealing with winter damage, risky tenants, or just want peace of mind, the right policy makes all the difference.
Don’t wait for a disaster to expose a gap in coverage. Avoid common landlord insurance mistakes and get protection that works when it matters.
Our advise is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.
