Home Insurance in Aberdeen, SD
Home insurance in Aberdeen, SD, provides a powerful shield for severe weather and other property risks.
Aberdeen, South Dakota, ranks as the third most populous city in the state with about 28,500 residents. The town has a strong arts and culture scene with four galleries, an annual film festival and a community theater. Northern State University is also located in Aberdeen, and it's one of the city's largest employers along with the Aberdeen Public School District and Avera Saint Luke's Hospital. Residents enjoy the picturesque setting in the James River Valley as well as the low cost of living.
According to Sperling's Best Places, the median real estate price in Aberdeen is about $219,000. If you're shopping for a home here, you could save an average of 35% over the national median price of approximately $338,000. At the same time, property prices are rising rapidly with more than 17% annual appreciation, so it may be a smart time to enter the Aberdeen real estate market.
The median home in town is about 48 years old. More than 19% of properties in Aberdeen were built before 1939, but if you aren't interested in a historic home you'll also find residential real estate constructed in the 70s (16%), 50s (13%) and just about every other decade.
Home insurance in Aberdeen, SD, protects your property from common concerns. For example, your property may be susceptible to winter storm damage caused by prolonged freezing, ice storms and deep snow that often occurs in this region.
Most policies pay for these concerns. However, you may need to purchase a rider for flood insurance. This add-on coverage pays for flooding damage caused by a local water source or significant snow melt.
Tornadoes can also hit the Aberdeen area, with strong winds that could damage your home. Spring thunderstorms with hail are also a frequent occurrence in some parts of South Dakota. While wind and hail damage falls under most standard home insurance policies, you may have to pay an additional deductible for this type of claim.
The city also has a slightly above-average burglary rate. Homeowners insurance will pay to replace covered stolen property after this type of incident.
According to Nerdwallet, the average annual premium is $2,305 for home insurance in Aberdeen, SD. You'll pay about $500 more per year than the national average of $1,805 for a comprehensive homeowners policy. The state's elevated risk of severe weather plays a role in these higher rates. Even your exact street address influences your coverage, along with your credit, the value of your home, the type of construction, the value of your covered personal property and many other characteristics.
You could see dramatically different rates from one insurance company to the next. Each provider weights all these factors with its own formula to come up with premiums. Comparing companies with VIU by HUB gives you real quotes based on your information so you can save on quality coverage.
State law doesn't establish requirements for home insurance. However, your mortgage agreement will specify a minimum amount of coverage. Even after you pay off your home loan, you should consider carrying sufficient home insurance in Aberdeen, SD, to avoid significant out-of-pocket expenses after an unexpected catastrophe.
VIU by HUB provides fast, easy online quotes personalized to your preferences so you can save money for shopping around for home insurance in Aberdeen, SD.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
