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Business Insurance in South Dakota

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Learn about South Dakota's insurance requirements

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What are the requirements for small business insurance in South Dakota?

State laws can affect which insurance policies you need for your small business. These policies are required for South Dakota businesses.
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Workers' compensation insurance

With some exceptions, South Dakota state law requires businesses with any number of employees, full-time or part-time, to carry adequate workers’ compensation insurance. This policy covers medical bills for work injuries and illnesses.

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Commercial auto insurance

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

South Dakota's commercial auto insurance requirements are:

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

Recommended insurance policies for small businesses in South Dakota

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How much does small business insurance cost?

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

  • Your industry and risk
  • Coverage limits
  • Location
  • Number of employees
View Small Business Insurance Costs

Insureon specializes in South Dakota business insurance

In South Dakota, insurance agents, agencies, 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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