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Average Cost of South Dakota Auto Insurance

Residents of South Dakota may have gotten a surprise when they received car insurance renewal information for 2010; the average cost of car insurance is on the rise. Pricing rose by approximately 3.7 percent, which raised the average price to $1,454.

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Customers who want to keep rates low should be reviewing their coverage carefully. Now may be the time to eliminate any extras on the policy that are no longer needed. For instance, a customer who owns an older vehicle that has been fully paid for may not want to keep their collision or comprehensive coverage in place. If the car is a write-off, the insurance company will only pay an amount equal to the current value of the vehicle, not what the customer paid for it.

Increasing the deductible is a way to lower premium rates, but this measure is something that should be considered carefully. The deductible must be paid by the insured before the insurance company will pay out on a claim. While choosing to take more financial responsibility means lower premium rates, care must be taken to avoid a budget crunch if an accident occurs.

Lowering the policy limit is another way to save money, but this strategy may backfire if a serious accident occurs and the policy limit is not high enough to pay the full amount of the claim. Then the policyholder is personally responsible for making up the difference.

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