Black Hills Insurance
Black Hills Insurance Agency is a family-owned independent insurance agency founded in 1949 in Rapid City, South Dakota, distributing personal, commercial, life/health, and Medicare products from 22+ national carriers to individuals, families, and businesses in the Black Hills region via licensed agents on a commission basis.
- Company typePrivate
- Founded1949
- HeadquartersRapid City, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Black Hills Insurance does
Black Hills Insurance Agency, Inc. is a family-owned independent insurance agency founded in 1949 and headquartered at 820 Saint Joseph St, Rapid City, South Dakota. It is currently owned and operated by five Maguire siblings and operates under the DBA 'Black Hills Insurance' and 'BLACK HILLS AGENCY'. As an independent intermediary, the agency earns revenue through commissions paid by 22+ insurance carrier partners including Progressive, Travelers, Liberty Mutual, Chubb, The Hartford, CNA, Berkshire Hathaway GUARD, Auto-Owners, GEICO, and several specialty carriers. It does not underwrite policies itself.
The agency distributes insurance products across three primary lines: (1) personal lines — home, auto, umbrella liability, renter's, boat & recreational vehicles, and collector car; (2) commercial lines — businessowners coverage, commercial property and casualty, workers compensation, professional liability, specialty coverage (cyber, marine, surety, aviation), and bonds; and (3) life and health — individual and group health, dental, vision, disability, life, and Medicare Supplements / Advantage / Part D plans. It also maintains a dedicated Benefits Division staffed by multiple life & health agents and a Licensing Coordinator. Named long-tenured enterprise clients include Dream Design International, Pete Lien & Sons (over 20 years), and Forest Products Distributors.
The business model is commission-based with quote-driven pricing and monthly billing cadence. Go-to-market is sales-led and consultative: licensed agents provide free quotes via phone, email, and in-person meetings at the Rapid City office. Distribution is regional, concentrated in the Black Hills area of South Dakota, and supplemented by membership in the Trusted Choice national independent-agent network. There is no proprietary technology platform, no mobile app, no API, and no disclosed AI/ML capability — operations are supported by a Marketing 360 website and traditional agency workflows. Headcount is in the 11–50 range and revenue is not publicly disclosed.
Black Hills Insurance firmographics
Firmographics- Name
- Black Hills Insurance
- Legal name
- Black Hills Insurance Agency, Inc.
- Website
- https://blackhillsagency.com
- Company type
- Private
- Founded year
- 1949
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Black Hills Insurance Agency is a family-owned independent insurance agency founded in 1949 in Rapid City, South Dakota, distributing personal, commercial, life/health, and Medicare products from 22+ national carriers to individuals, families, and businesses in the Black Hills region via licensed agents on a commission basis.
- Ownership category
- akta.pro rank
Black Hills Insurance industry classification
Industry- Product category
- Independent Insurance Agency / Insurance Brokerage
- NAICS
- Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321), Life Insurance (6311), Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity) (HLAEABAJ)
- akta.pro secondary industries
- Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD), Individual Disability Income Insurance (Non-Group) (FSAIAIAA)
Keywords
Where Black Hills Insurance is headquartered
LocationHeadquarters
- HQ city
- Rapid City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Black Hills Insurance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Insurance Commissions: As an independent insurance agency, Black Hills Insurance earns revenue through commissions paid by insurance carriers for policies placed. They represent multiple insurance companies and offer products across personal lines, commercial property and casualty, specialty coverages, surety, and employee benefits including health, life and disability.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Quote-based pricing for all insurance products |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Black Hills Insurance product offering
Product offeringCore offering
Black Hills Insurance Agency, Inc. is an independent insurance agency that places personal, commercial, and life/health insurance policies with multiple national and regional insurance carriers on behalf of individuals, families, and businesses. The agency earns commissions from carriers across personal lines (home, auto, umbrella), commercial property and casualty, specialty coverages, surety bonds, and employee benefits (group/individual health, life, disability, Medicare). It provides consultative quoting, coverage selection, risk management, and ongoing policy servicing from its Rapid City, South Dakota headquarters.
Product overview
Black Hills Insurance Agency operates as an independent insurance agency offering a broad portfolio of insurance products and risk management services. The company provides personal lines insurance (home, auto, umbrella liability) and business/commercial insurance (businessowners policies, professional liability, specialty coverage) as its core offerings. Life and health insurance products include individual and group coverage, plus Medicare benefits. The agency functions as an intermediary, representing multiple insurance carriers to provide customized coverage solutions for individuals, families, and small to mid-sized businesses in the Rapid City and Black Hills region.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Insurance Comprehensive personal insurance coverage including homeowner's insurance, renter's insurance, auto insurance, boat and recreational vehicles, collector car insurance, and excess liability/umbrella coverage for individuals and families.
- Home Insurance
- Auto Insurance
- Umbrella Liability Insurance
- Individual Life/Health Insurance
- Group Life & Health Coverage
- Medicare Benefits
- Business Insurance
- Businessowners Coverage
- Professional Liability
- Specialty Coverage
Companies that use Black Hills Insurance
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Black Hills Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Black Hills Insurance partnerships and signals
Strategic signalPartnerships
23 partnerships are on record, tiered core.
- Accident Fund Insurance Company of AmericacoreInsurance carrier partner providing workers compensation and other commercial insurance products through Black Hills Insurance Agency.
- Acuity InsurancecoreInsurance carrier partner represented by Black Hills Insurance Agency for various commercial and personal lines coverage.
- Auto-Owners InsurancecoreInsurance carrier partner providing personal and commercial insurance products through Black Hills Insurance Agency.
- Berkshire Hathaway GUARD Insurance CompaniescoreInsurance carrier partner offering commercial insurance products including general liability and property coverage.
- Berkshire Hathaway Homestate Companies (BHHC)coreInsurance carrier partner providing workers compensation and commercial insurance products.
- CHUBBcoreGlobal insurance carrier partner offering high-value personal and commercial insurance coverage.
- CNAcoreInsurance carrier partner providing commercial insurance products including professional liability coverage.
- CoalitioncoreCyber insurance carrier partner offering cyber liability and digital risk protection products.
- CopiccoreMedical liability insurance carrier partner serving healthcare providers.
- CowbellcoreCyber insurance carrier partner providing cyber risk coverage for businesses.
- CuricoreMedical malpractice and professional liability insurance carrier for physicians and healthcare entities.
- EMC InsurancecoreInsurance carrier partner offering commercial and personal insurance products.
- GEICOcoreInsurance carrier partner providing auto and home insurance products.
- K&K InsurancecoreInsurance carrier partner specializing in sports, entertainment, and specialty coverage.
- Liberty Mutual InsurancecoreInsurance carrier partner providing personal and commercial insurance products.
- ProgressivecoreInsurance carrier partner providing auto insurance and other personal lines coverage.
- MarkelcoreInsurance carrier partner offering specialty and excess insurance products.
- Philadelphia Insurance CompaniescoreInsurance carrier partner (member of Tokio Marine Group) providing commercial insurance products.
- The HartfordcoreInsurance carrier partner providing business and employee benefits insurance.
- TravelerscoreInsurance carrier partner providing commercial and personal insurance products.
- UFG InsurancecoreInsurance carrier partner providing commercial insurance coverage.
- Western National InsurancecoreInsurance carrier partner providing personal and commercial insurance products in the Midwest region.
- Trusted ChoicecoreNational network of independent insurance agencies providing brand credibility, marketing support, and industry resources. Black Hills Insurance Agency is a Trusted Choice member offering benefits to customers including access to a broad network of brokers and resources.
Scale indicators2 records
Recent moves5 records
Expansion highlights4 records
Black Hills Insurance competitors and assessment
Company assessmentDirect peers
- Assurex Global: Assurex Global is a network of independent commercial insurance brokers across the U.S. and internationally. Black Hills' Trusted Choice affiliation is functionally analogous to Assurex membership, making it a comparable peer in independent agency partnership structures.
- USI Insurance Services: USI is a large independent insurance brokerage serving middle-market commercial and personal clients across the U.S. It mirrors Black Hills' multi-line, multi-carrier distribution approach at a substantially larger scale and provides a benchmark for independent agency economics.
- Lockton Companies: Lockton is the world's largest independent insurance brokerage, offering commercial, personal, and benefits products through carrier partnerships. Comparable to Black Hills in independent multi-carrier distribution, though Lockton operates globally with far greater scale.
- IMA Financial Group: IMA Financial Group is an independent insurance brokerage headquartered in the Midwest (Kansas) offering commercial, personal, and employee benefits products through carrier partnerships. Comparable to Black Hills in regional Midwest roots, multi-line scope, and family/private ownership heritage.
- Hub International: Hub International is one of the largest independent insurance brokerages in North America, offering personal, commercial, and benefits lines. It is comparable to Black Hills as a multi-carrier agency model, though at vastly larger scale and broader geographic footprint.
- The Flanders Group: The Flanders Group is a mid-sized independent insurance agency offering personal, commercial, and benefits products through multiple carriers, similar in structure and product mix to Black Hills Insurance. Comparable in regional independent agency positioning and multi-line scope.
- Brown & Brown Insurance: Brown & Brown is a large publicly traded independent insurance brokerage distributing personal, commercial, and benefits products through carrier relationships. It represents the scaled version of Black Hills' independent agency model and a natural benchmark for valuation multiples.
- Leavitt Group: Leavitt Group is a network of independent insurance agencies primarily across the Western and Midwestern U.S., offering the same multi-line personal, commercial, and benefits products through carrier partnerships. It is the closest structural peer to Black Hills Insurance as a regional independent agency with multi-state ambitions.
Broad incumbents
- Marsh McLennan Agency: Marsh McLennan Agency is the middle-market brokerage arm of global consulting firm Marsh McLennan, distributing commercial and benefits products through carrier partnerships. Comparable to Black Hills in independent multi-carrier distribution, but operating with the backing of a global parent.
- Arthur J. Gallagher & Co. Gallagher is a global insurance brokerage and risk management firm offering brokerage, consulting, and claims management across all major commercial and personal lines. Comparable to Black Hills as a multi-carrier broker model, but operating at massive scale with a much broader service portfolio.
Market position
Strengths1 record
Weaknesses1 record
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Black Hills Insurance social profiles
Digital presenceBlack Hills Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Black Hills Insurance leadership team
Management profileNumber of profiles
Profiles8 records
Black Hills Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Black Hills Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Black Hills Insurance
What does Black Hills Insurance do?
Black Hills Insurance Agency, Inc. is an independent insurance agency that places personal, commercial, and life/health insurance policies with multiple national and regional insurance carriers on behalf of individuals, families, and businesses. The agency earns commissions from carriers across personal lines (home, auto, umbrella), commercial property and casualty, specialty coverages, surety bonds, and employee benefits (group/individual health, life, disability, Medicare). It provides consultative quoting, coverage selection, risk management, and ongoing policy servicing from its Rapid City, South Dakota headquarters.
Is Black Hills Insurance a public or private company?
Black Hills Insurance is a private company. It is classified as family owned and is currently operating.
When was Black Hills Insurance founded?
Black Hills Insurance was founded in 1949. It employs 11 to 50 people.
Where is Black Hills Insurance based?
Black Hills Insurance is headquartered in Rapid City, United States, in the North America region.
How does Black Hills Insurance make money?
One revenue line is on record: insurance Commissions.
Who are Black Hills Insurance's main competitors?
Direct peers on record are Assurex Global, USI Insurance Services, Lockton Companies, IMA Financial Group, Hub International, The Flanders Group, Brown & Brown Insurance and Leavitt Group. Broad incumbents are Marsh McLennan Agency and Arthur J. Gallagher & Co..
Does Black Hills Insurance have an API?
No public API is recorded for Black Hills Insurance.
What industry is Black Hills Insurance in?
Black Hills Insurance's product category is Independent Insurance Agency / Insurance Brokerage. Its primary akta.pro industry code is HLAEABAJ, Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity), with a secondary code of FSAIAKAD, Group/Employer-Sponsored Critical Illness & Hospital Indemnity. Its NAICS code is 524210 and its SIC code is 6411.