South Dakota’s Top 8 Firms For Reliable Business Insurance Coverage

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South Dakota is one of the leading business-friendly states in the United States since opening a business in the Mt. Rushmore State is pretty easy and doesn’t cost much. Recent surveys say that around 98,000 small businesses operate in South Dakota. Even the tourism industry that provides jobs to 9% of the state’s total workforce relies heavily on small operators. However, South Dakota’s labor market is very tight, so businesses often need to apply for insurance.

Economic downturns also pose a risk to local businesses. That’s why many small business owners need insurance coverage. Insurance policies protect businesses from theft, arson, lawsuits, lost income, workplace accidents, equipment failure, etc. This list will discuss 8 major small business insurance providers operating in South Dakota right now.

Hiscox

The first one is Hiscox, a company operating since the turn of the past century (i.e., 1901). This company offers airtight insurance coverage to small businesses based in South Dakota as an Anglo-Bermudan firm. It offers professional liability insurance, general liability, business owners’ policies, cybersecurity insurance, and more. Also, Hiscox covers several industries, such as plumbing, janitorial services, golf instructors, home health aides, and engineers etc. Hiscox is a famous brand and their policies start at £8.4 per month for 10% of their clients in the UK. Also, general liability costs $30/month. This company also offers ample coverage to 500,000 small businesses throughout the world.

NEXT Insurance

Secondly, NEXT Insurance also offers incredible coverage options to local businesses in South Dakota. Their services include workers’ comp, specialized coverage, commercial auto liability, business owners’ policies, and others. Bundling 2+ policies from this form makes you eligible to get a 10% discount. Also, general liability starts at $19/month (goes up to $50 for most small businesses). NEXT Insurance supports Amazon sellers, beauty salons, cleaners, gyms and fitness centers, educators, etc. Based in Palo Alto, they support 500k clients, letting you get covered in half an hour.

Thimble

Thimble is yet another insurance provider that offers on-demand coverage to small-sized businesses in Mt. Rushmore State, including freelancers. You can get cyber insurance and workers’ comp insurance among many other options. Also, Thimble’s services are available across 300 branches of this firm. You can even buy insurance policies on an hourly or daily basis as well. Thimble has also launched a mobile app to make a business owner’s life easier. Their insurance policies are easily affordable, costing less than $25 for business equipment coverage.

Tivly

Tivly is more like an insurance marketplace where business owners can find the best policies that suit their diverse needs. You can find 200+ business insurance coverage providers after joining this marketplace. From BOP to commercial property insurance, Tivly gives you access to different policy types. Also, they offer swift and charge-free quotes alongside their extensive personal support. General liability insurance costs less than $50 per month at Tivly, which is why their services are the best for South Dakota business owners.

InsuranceBee

Another unique name in the business coverage industry is InsuranceBee. This company offers customized insurance policies based on your business’s unique needs. You can apply for cyber liability, professional liability, liability insurance, and workers’ comp insurance, among a lot of other options. Whether you’re in real estate or work as a caregiver, InsuranceBee will have your back. InsuranceBee also offers an online quoting system to make the process easier. Founded like 15 years ago, InsuranceBee offers its services in most US states.

Herrmann Insurance Agencies

Herrmann Insurance Agencies will protect your business from property & liability issues. They operate in South Dakota, based in Rapid City. They will also help you find the best carriers in the industry. Moreover, they cater to not only small businesses but also large corporations. If you need general liability insurance or property damage protection, Herrmann has your back.

Coterie Insurance

Coterie Insurance is yet another provider of good insurance options for small businesses in South Dakota. You can get access to general liability insurance and BOP when you reach out to the folks at Coterie. They cover clothing stores, florists, real estate agents, janitorial companies, medical offices, window cleaning services, coffee shops, etc. You will also receive customized coverage fit for your unique business needs. 

Huckleberry Insurance

Huckleberry Insurance offers you insurance policies for as low as $16/month. This is why they deserve a spot on our list. They give you instant coverage with no extensive paper requirements for a policy. Also, you will get a quote first, charging you $0 with no commitments. They provide diverse coverage options for various niches, such as food & beverages, legal, accounting, hair & beauty, retail, commercial cleaning, HVAC, auto repair, and more.

Brief Overview of Leading Business Insurance Providers 

The table below describes how South Dakota’s leading seven insurance companies differ by product and unique selling features.

Top South Dakota Cities for Business Insurance

The following cities in South Dakota provide the required infrastructure support and economic environments suitable for finding business insurance solutions.

1. Sioux Falls
2. Rapid City
3. Aberdeen
4. Brookings
5. Watertown
6. Yankton
7. Mitchell
8. Huron
9. Pierre
10. Box Elder
11. Spearfish
12. Vermillion
13. Brandon
14. Harrisburg
15. Dakota Dunes

South Dakota Government Resources for Business Insurance

You can get additional information about business insurance requirements in South Dakota through these government resources.

• North Dakota Insurance Department
• US Small Business Administration | South Dakota

Conclusion

You should always partner with reliable business insurance companies. That’s how you protect your business from misfortunes. After all, small businesses are prone to accidents & lawsuits due to cybersecurity issues today. These 8 firms listed above will protect your interests and save you from losing money.

You should look for business insurance providers in North Dakota and the best South Carolina insurance coverage agencies as well. If you need business funding in South Dakota, we’ll give you the names of the best funding sources in Mount Rushmore State.

So, are you ready to get the coverage you need to keep your small business afloat? Please visit Sophisticated Investor for the latest insights on protecting and growing your business.