Home Insurance in Watertown, SD
Discover the benefits and drawbacks of living in South Dakota and learn why home insurance in Watertown, SD is essential.
Tucked between Lake Kampeska and Pelican Lake in South Dakota, Watertown, is a thriving city on a plateau in the Great Plains. The city is more than 25 square miles and has 23,019 people living in it. The city got its name from the New York hometown of its two founders in the 19th century when it was first settled as a transportation hub. Today, the city's location on Interstate 29 and the Big Sioux River make it an integral part of South Dakota.
The area is primarily middle-class, with a median home value of $179,400 and a poverty rate of 11%. Household income in Watertown stands at $63,268, and the unemployment rate throughout South Dakota is a healthy 2%. The top industries for employees in this part of the state are manufacturing, retail and health care.
Watertown has a humid continental climate, and the biggest risk for home insurance claims is due to winter weather. Heavy snow, ice, and blizzard conditions are possible in this city during the winter. Residents also have a 1 in 75 chance of experiencing property crime, especially in heavy crime neighborhoods like North Shore and Watertown East. Compared to the rest of the country, South Dakota has lower risks of hazards related to home insurance.
Home insurance in South Dakota is more expensive than the national average. If you buy home insurance in Watertown, SD, for a $300,000 home, you could pay about $2,385 per year. This rate assumes you have good credit and standard limits on your coverage categories. It also assumes the average deductible for home insurance consumers.
To get a cheaper rate, you'll need a comprehensive tool like VIU by HUB to help you search for different policies from other companies in Watertown. Luckily, there are plenty of homeowners insurance providers who can work with you to provide a competitive quote so you can save more of your money. You may also want to avoid living in neighborhoods close to the Sioux River banks or next to the lakes in Watertown to avoid problems with flooding and higher premiums.
When looking at home insurance coverage options on VIU by HUB, you must understand how the policies work. Home insurance is centered around potential perils that could impact your property and the damage they leave behind, such as fires, rain, vandalism, theft, snow, ice, falling objects or damage from wild animals. Each policy outlines which perils are covered and limitations.
Homeowners pay their provider monthly or yearly premiums or their payments are taken out of their mortgage account's escrow balance. If something happens to the property, consumers make a claim and can get reimbursement costs, repairs or a replacement. Policies often have a deductible, which is a set amount consumers have to pay out of pocket before the insurance kicks in.
If there is a potential peril that isn't covered by homeowners insurance, purchasing an add-on policy is recommended. Floods, earthquakes, identity theft and problems from swimming pools aren't usually covered by a standard home insurance policy.
You can build the perfect quote for home insurance in Watertown, SD, for your property. Finding a policy that works for you is easy if you use the comprehensive tools from VIU by HUB. You'll be able to save time and money by comparing your options between policies and insurance companies.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
