State Farm Insurance
State Farm offers homeowners, auto, life, and health insurance coverage and is the top insurance provider in the United States. The company tops the charts because of its exemplary customer service, variety of insurance products, financial strength, and involvement in the community. The company offers coverage discounts and other incentives to encourage individuals to choose State Farm as their insurance company.
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UPDATED: Feb 28, 2023
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
UPDATED: Feb 28, 2023
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
On This Page
State Farm Insurance
Average monthly rate for good drivers:
$86A.M. Best rating:
A+Complaint level:
LowPros
- Excellent customer service
- Wide range of insurance coverage options
- Financially strong
Cons
- Rates are slightly higher than the national average
- Weak international presence
- Claims process can be slow
The Bottom Line
Excellent customer service, a wide range of insurance options, financial strength, and community involvement. Those are the top ways State Farm stands above the rest.
While State Farm is an excellent choice for many people, it’s important to remember that different insurance companies may specialize in various types of insurance or have a stronger presence in certain regions, so it’s always a good idea to shop around and compare different insurance providers before deciding.
From auto and home insurance to financial services and more, State Farm has a wide range of products and services to meet the needs of its customers.
State Farm is the #1 insurance provider in the United States, and it’s easy to see why. This company has been around for over 100 years and has built a reputation for being the go-to choice for millions of Americans, but what exactly sets State Farm apart from its competitors?
According to an insurance business magazine, State Farm owns 9.3% of the market share in the United States. That may not sound like much, but that’s $65 billion in revenue coming into the company, so it’s a significant share. They rank alongside Progressive, Berkshire Hathaway, and other well-known companies, but State Farm dominates the industry.
Is State Farm Insurance a Good Choice?
Founded in 1922 by George Jacob Mecherle in Illinois as a mutual auto insurance company, State Farm was originally a single-line auto insurance company. Now the company has over 100 services and products and insures more homes and cars than any other insurance company in the United States.
The company is ranked #44 on the Fortune 500 list, with 65,000 employees and 18,000 agents. It has over 80 million policies and accounts, and its bank has over $15 billion in assets.
Here are the main factors that set State Farm apart.
State Farm’s Excellent Customer Service
State Farm stands out because of its focus on customer service. The company has a vast network of agents spread across the country, so policyholders can easily find an agent near them to help with any questions or concerns.
It is also important to note that State Farm operates as an agency-built company. That means that the company relies on a network of independent agents to sell and service its insurance policies.
This business model gives State Farm a unique advantage over its competitors, allowing the company to have a local presence in communities across the United States.
State Farm’s Wide Range of Insurance Options
Another reason State Farm is a top choice among consumers is its vast selection of insurance types and coverage plans.
This provider offers a variety of insurance products for both individuals and businesses, including auto and home insurance, life and health insurance, and much more. They do it all.
This means that whatever your insurance needs are, State Farm has you covered. They provide boat, life, home, commercial, and pet insurance, among many others, and have significantly impacted the market through their agencies.
They understand that every customer is unique, and they offer a variety of insurance products to fit every lifestyle and budget, from auto, home, life, and health insurance to provide comprehensive coverage for all your needs.
State Farm’s Financial Strength
When it comes to insurance companies, financial strength is crucial. After all, you want to make sure that the company you’re entrusting with your protection has the resources to pay out claims in the event of a disaster. And that’s exactly what makes State Farm stand out from the rest.
State Farm is financially strong and well-capitalized, with deep pockets and a solid financial foundation. This gives policyholders peace of mind, knowing that their insurance provider has the resources to pay out claims even in the event of a major catastrophe.
Think of it this way: the foundation is the most crucial part of building a house. Without a solid foundation, the house can’t stand. Similarly, an insurance company can’t stand the test of time without a strong financial foundation.
And that’s why State Farm has invested in building a solid financial foundation to ensure they can weather any storm and be there for their customers when they need them the most.
But State Farm doesn’t just have a strong financial foundation — they also have a long-term vision. They have been around for over a century and plan to be around for over a hundred more. This is why they are constantly working to maintain their financial strength and stability, to continue to provide the best possible service to their policyholders for years to come.
State Farm’s Commitment to the Community
State Farm is not just an insurance provider — it’s a company that genuinely cares about the communities it serves. The company strongly focuses on community involvement and giving back, which is one of the things that sets it apart from other insurance providers.
State Farm is actively involved in charitable causes, supporting education, and promoting safety. The company is committed to positively impacting the communities where it operates and does this through various initiatives and programs. For example, State Farm’s “Good Neighbor Citizenship” program encourages and supports volunteerism, disaster preparedness, and community development efforts.
Additionally, State Farm is a strong supporter of education and has various scholarships and grants available to students. They also have programs that promote financial literacy and help students plan for their future.
State Farm also puts a lot of effort into promoting safety on the road, at home, and in the community. They have campaigns and programs that educate the public about traffic safety, fire safety, and other safety-related topics.
State Farm Insurance Rates
When compared to other companies, State Farm typically offers full coverage auto insurance for around $86 per month.
Insurance Company | Average Minimum Coverage Rates | Average Full Coverage Rates |
---|---|---|
Geico | $290 | $80 |
State Farm | $408 | $86 |
Travelers | $471 | $99 |
Progressive | $484 | $105 |
National Average | $541 | $120 |
American Family | $582 | $117 |
Nationwide | $588 | $115 |
Allstate | $605 | $160 |
Farmers | $674 | $139 |
Liberty Mutual | $771 | $173 |
State Farm’s rates are not typically the cheapest available. Still, its rates are fairly competitive and affordable.
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State Farm Insurance Discounts Available
Discounts are a great way to save on insurance, and State Farm has quite a few auto insurance discounts available. Some of the company’s most popular discounts include:
- Good driving
- Good student
- Accident-free
- Drive Safe and Save
- Multi-car
- Bundling
- Safety features
- Young driver education
- Student away at school
- Passive restraints
Availability varies by state, so you’ll need to check the State Farm auto insurance discount list with a representative if you’re interested in buying a policy. Certain discounts with the company may help you save up to 25% on your auto insurance coverage.
State Farm Insurance Coverage Options
State Farm offers a variety of coverage options for policyholders. Depending on what you’re looking for, State Farm may have multiple insurance products that meet your needs. If you purchase more than one insurance policy with State Farm, you may be able to save money with a bundling discount.
Auto Insurance
One of State Farm’s most popular insurance products is its auto insurance policies. State Farm offers a variety of auto insurance coverage, including:
- Liability coverage
- Medical payments coverage
- Collision coverage
- Comprehensive coverage
- Uninsured motor vehicle coverage
- Underinsured motor vehicle coverage
The company also offers add-on coverage options designed to allow policyholders to customize their policies to meet their unique needs. Some of the company’s most popular add-on auto insurance coverage options include:
- Rental car reimbursement
- Emergency roadside assistance
- Pay-per-mile insurance
- Usage-based coverage
- Rideshare insurance
State Farm offers auto insurance for standard vehicles as well as classic and vintage cars. Additionally, policyholders can purchase auto insurance for RVs, ATVs, and other vehicles.
Homeowners Insurance
State Farm offers coverage for homeowners, condo unit owners, manufactured homeowners, renters, farms and ranches, and small business owners. Homeowners insurance does not cover bodily injury or property damage by uninsured peoples, business pursuits, professional services, or ownership, operation, use, or maintenance of motor vehicles, aircrafts or certain watercrafts.
Health Insurance
State farm offers multiple health plans including: individual medical coverage, Medicare supplemental insurance, Medicare part D coverage, and supplemental health insurance. The company also offers supplemental health insurance for things like: unexpected child care, private room fees, and extra phone calls to friends/relatives. State Farm offers disability income insurance, mortgage disability income insurance, and individual credit disability insurance. They also offer a long-term care insurance policy.
Life Annuity Insurance
State Farm offers term life, whole life, universal life, and variable universal life policies. The company also offers small business life insurance with business continuation, key employees, employee benefits, and key employee incentives.
Specialty Insurance
State Farm offers insurance for various sports and leisure vehicles and identity protection.
Frequently Asked Questions
Is State Farm a good auto insurance company?
State Farm tops the charts for auto insurance coverage. Customers with State Farm cite the company’s excellent customer service department as one main reason for purchasing a policy. Individuals with bad credit or multiple accidents on their driving records may pay higher-than-average rates for auto insurance with the company.
Where can I get State Farm insurance?
State Farm coverage is available in all 50 states and Washington, D.C. Interested individuals can purchase insurance coverage with State Farm online, over the phone, or in-person with a State Farm agent.
Does State Farm insure homes with pitbulls?
State Farm does not restrict home insurance policies based on dog breeds. Instead, the company considers each dog’s bite history to determine whether it will offer coverage.
Free Insurance Quote Comparison
Enter your ZIP code below to compare cheap insurance rates.
Secured with SHA-256 Encryption
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
Cristel94
No accountability from them
Nsu_1617
State Farm Insurance is really bad!!!
Jessiejjj
Horrendous Property Department service. Don't use State Farm
Kelli_D
Pray your never hit by a statefarm holder
KaraT
[REDACTED NAME] is the BOMB!!!
S_Khan
Best Insurance Company
Ric75319
Bait and switch
Lovebird
Shocked at service
Joshua03
Claims review from an industry insider
ajack
How can State Farm treat me like this????