Business Insurance in South Dakota

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Recommended insurance policies for small businesses in South Dakota

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General liability insurance

This business liability insurance policy covers the most common third-party risks. It's important for all South Dakota businesses, and it's required by most commercial leases.

  • Customer bodily injuries
  • Personal injuries
  • Advertising injuries
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Professional liability insurance

This policy, also called errors and omissions insurance (E&O), protects South Dakota businesses that provide professional services or advice. It covers lawsuits related to work performance.

  • Work mistakes and oversights
  • Professional negligence lawsuits
  • Late or incomplete work
Cyber liability insurance icon

Cyber liability insurance

This policy covers financial losses from data breaches and cyberattacks. It's recommended for South Dakota businesses that handle credit card numbers and other sensitive data.

  • Customer notification expenses
  • Fraud monitoring services
  • Data recovery efforts
Business owner’s policy icon

Business owner’s policy

A BOP bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of commercial insurance for a South Dakota business.

  • Slip-and-fall injuries
  • Damaged customer property
  • Damaged business property
Workers’ compensation insurance icon

Workers’ compensation insurance

Workers’ comp is highly recommended for South Dakota businesses with employees. It also protects sole proprietors from work injury costs that health insurance might deny.

  • Employee medical expenses
  • Disability benefits
  • Legal fees from employee injuries
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Commercial auto insurance

This policy is required for business-owned vehicles in South Dakota. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.

  • Accidents involving business vehicles
  • Theft of a commercial vehicle
  • Damage to a company vehicle
Looking for different coverage? See more policies.

South Dakota business insurance requirements

State laws can affect which business insurance coverage you need. These policies are required everywhere in South Dakota, from Sioux Falls to Pierre.

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Workers' compensation insurance

Unlike most other states, South Dakota does not require businesses to carry workers’ compensation insurance. However, coverage is highly recommended, especially if you have employees.

This policy covers medical bills for work-related injuries and illnesses, and provides disability benefits to injured South Dakota workers. It also protects employers financially in the event an employee claims their injury was caused by negligence.

Blue check mark

Commercial auto insurance

All business-owned vehicles in South Dakota must be covered by commercial auto insurance. This policy covers the cost of accidents involving work vehicles.

South Dakota state law requires that drivers show proof of financial responsibility, usually by carrying auto insurance. The minimum requirements for auto liability coverage (and uninsured motorist coverage) are:

  • Bodily injury liability: $25,000 per person / $50,000 per accident
  • Property damage liability: $25,000 per accident

Trucking companies may need additional coverage to comply with regulations.

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to commercial general liability insurance (CGL) or a business owner's policy (BOP).

How much does small business insurance cost?

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Commercial insurance can be affordable for South Dakota small business owners. Factors that influence the cost include:

  • Type of business and its risks
  • Business operations and location
  • Number of employees
  • Types of insurance purchased
  • Policy limits and other coverage options
View Small Business Insurance Costs
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Find the right policies and get your certificate of insurance

Insureon's licensed agents can help you find policies that fulfill South Dakota's requirements and your business insurance needs. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.

In South Dakota, insurance agencies, agents, and brokers are licensed by the Department of Labor's Division of Insurance. Insureon is licensed in South Dakota as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance (license number 10012461). You can verify our licensure with the Sircon Corp. Verification System by selecting South Dakota, agency, and then entering our state license number.

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