The largest property and casualty insurance company in the United States, State Farm, is not only known for its hefty market share, but also for the vast number of local agents it employs throughout the country. State Farm insurance was established in 1922. It offers multiple insurance lines to meet different needs, and several discounts to maximize savings.
If you are considering a switch from your current provider, there are several reasons to consider State Farm. From financial stability to expansive coverage options, it ticks several of the right boxes and establishes itself as one of the leading insurers capable of covering you against many of life’s catastrophes.
State Farm auto insurance
State Farm’s car insurance policy is perhaps the most popular of all its products. State Farm provides additional protection and options beyond the standard liability coverage. State Farm offers a wide range of coverages and discounts, so you can have your budget or luxury car covered.
State Farm offers some of the most well-known auto insurance coverages, including:
- Liability coverage: This is the minimum coverage required in most states. It includes coverage for bodily injury as well as property damage.
- Collision coverage: This coverage helps pay for damage repair and replacement costs for your vehicle resulting from an accident or other collision.
- Comprehensive coverage: This coverage is sometimes called “other-than-collision” and it helps pay for damage repair and replacement costs for your vehicle resulting from non-collision related damage, like theft or fire.
- Rental car reimbursement: This pays for expenses when your vehicle is in repair and you use a rental.
- Rideshare coverage: This gives rideshare drivers the coverage not provided by their personal or commercial car insurance.
- Emergency roadside assistance: This involves towing, labor, and other mechanical assistance on the road when your vehicle breaks down.
- Uninsured and underinsured motorist: These coverages protect you from paying for the damage that could be caused if you are hit by a driver with no insurance or a driver who does not have enough insurance to cover your expenses.
- Medical payments: This covers medical treatment expenses of injuries suffered by you or your passengers in an accident.
State Farm auto insurance: What is the cost?
Most drivers can afford State Farm car insurance. Quadrant Information Services has shown that the average State Farm full coverage policy costs $1,457 per annum and the average minimum coverage policy costs just $539 per annum. For comparison, the national average full coverage policy costs $1,674 per year and the national average minimum coverage policy costs $565 per year.
These are just average rates, however drivers need to remember that they are not the best. Car insurance quotes can be personalized. Your premium will depend on many factors, including where you live, what zip code you are in, how old and credit scores, and whether or not you have had any claims.
State Farm auto insurance can help you save money on your premiums in a number of ways.
- Steer Clear: This is a safe driver program for those under the age of 25.
- Discount for defensive drivers: A defensive driving course may qualify you to receive a discount.
- Student discount: Students with grades B or higher could be eligible for a discounted rate
- Multi-car Discount: You can save money by insuring more vehicles with State Farm.
- Vehicle safety discount: You could get a discount if you have various safety and anti-theft devices installed in your vehicle.
- Drive Safe and Save: This is a safe driver telematics program that offers discounts by tracking good driving habits.
State Farm Home Insurance
State Farm’s home insurance policy is quite standard, unlike its car insurance policies. State Farm home insurance may be good for those who want an affordable policy with the ability to talk to a real person for assistance. State Farm offers a unique fire safety program through its partnership with Ting. A free device that monitors the electrical system of a home and alerts homeowners to potential fire hazards may be available to policyholders. The coverages are not standard but the policies are well-received by both consumers and critics.
State Farm offers the following coverage options:
- Dwelling coverage: This covers the structure of your home and attached structures against perils like weather damage, theft, fire and vandalism.
- Personal property coverage: This insures your belongings and valuables.
- Other structures: This coverage is for detached structures on the property such as a shed, barn or pool.
- Liability coverage: This provides coverage in instances when someone sustains injuries on your property and you are found negligent, or when you damage someone else’s property.
- Coverage for medical payments: This coverage will cover guest injuries, regardless of your negligence.
- Replacement cost coverage: This pays the total cost of rebuilding the property, even if it is more than the actual cash value.
- Identity theft protection: This coverage is for loss of personal data and documents in case of online breach.
State Farm Home Insurance: What is the cost?
For $250,000 coverage, the average State Farm home insurance policy will cost $1,503 per annum. In the United States, the average homeowner pays $1,312 per year for home insurance, which means State Farm is more expensive than the national average rate. Home insurance policies are priced according to personal factors such as ZIP code, credit score and endorsements. Some of these factors may result in lower premiums.
Here are some State Farm home insurance discounts:
- Multiple-line discount: To bundle auto and home insurance policies
- Discount on Home Alert Protection: To have safety devices in your home
- Discounts on roofing: Upgraded, weather-resistant roofs
Renters insurance from State Farm
If you do not own your house but still want to ensure the safety of your possessions, State Farm offers renters insurance. This policy is basic but sufficient to protect you and your personal property in case of disaster.
State Farm renters insurance usually provides coverage for:
- You are responsible for any injuries or property damage that occurs in your rental.
- Fire, smoke, water, and accident damage to your plumbing system can cause injury.
- Storm, snow, hail, lightning, hail and sleet are just some of the weather-related damage that can be caused by storms, snow, rain, ice, lightning, hail and sleet.
- Other damage caused by vandalism and theft, vehicle damage, and other factors
- If your house is damaged or becomes uninhabitable, loss of use will pay for additional living expenses.
Renters insurance from State Farm is not available at a discount. These are the ones that State Farm offers:
- You can have burglar and smoke alarms in your home.
- Policy Bundling allows you to combine your renters insurance and auto insurance.
State Farm life insurance
The State Farm life insurance division provides a broad variety of life insurance offerings and a few learning tools and calculators to help you learn more about why you would need life insurance, how much coverage you may need and which type would be best for you.
It is easy to get a quote for State Farm life insurance online. To get an estimate of the cost of a policy, enter your state and choose the coverage you want. Life insurance does not offer discounts. State Farm multiple line discounts only apply to auto insurance premiums.
Different types of policies
State Farm offers life insurance policies that include:
- Term life insurance covers you for a set period.
- Whole life insurance offers permanent protection with a set monthly premium that includes a death benefit you will leave if you pass away and adds a tax-deferred savings account you can access.
- Universal life insurance offers permanent protection with an investment element that can have flexible monthly premiums, a death benefit and a tax-deferred savings account you can access to fund any purchase you want.
Reviews, complaints, satisfaction levels, and ratings for State Farm
The J.D. State Farm received a score 881 out 1000 points in the Power 2020 U.S. Auto Claims satisfaction Study. The J.D. did not rank the carrier higher than the industry average. Power 2021 U.S. Property Claims Satisfaction Study scored 880 out 1000.
The insurer is ranked high in State Farm life insurance reviews. The J.D. With a score 838 out 1000 points, Power 2020 U.S. Life Insurance Study was the top-scoring company.
AM Best also gives State Farm an A++ rating. This rating assesses providers’ financial strength and ability to pay claims. However, the National Association of Insurance Commissioners reports higher than average customer complaints.
According to State Farm reviews from Consumer Affairs, many policyholders enjoy how easy it is to file a claim online or even from their phone. Some people find it convenient to speak to their local agent. State Farm offers discounts to safe drivers and teen drivers which customers love.
State Farm: Top Reasons to Consider
Although State Farm may not always offer the lowest rates, it’s worth looking into because of the many discounts it offers customers as well as the extensive network of local agents that provide personalized service. State Farm, a large insurance company, is available in all areas of the country.
State Farm offers a convenient way for busy customers to manage their policies on the move with a high-tech app, several online tools, and countless document viewing and payment options. State Farm is a top-rated insurer that is financially stable and highly regarded for its customer service.
State Farm also offers additional policies
Customers who choose State Farm insurance can combine their coverage with any of the following types:
- Farm and ranch
- Manufactured homes
- Boats, motorbikes, and RVs
- Restoring identity
- Commercial auto
Questions frequently asked
Is State Farm available nationwide?
State Farm is an American company that operates in all 50 states and Washington, D.C., but it does not currently write new business in Massachusetts or Rhode Island. The existing policies in these states are being served, but no new policies have been written.
What information do I need in order to receive a quote from State Farm
State Farm will provide you with a quote once you have provided a few details such as your name and contact information. To receive a quote for life insurance, you’ll need to give your age and gender as well as answer basic questions about your health.
Online application for State Farm Life Insurance
Online applications are not allowed for all types of life insurance products. You will need to visit your local State Farm agent if the type of life insurance that you are looking for does not appear in the online application.
How do I file State Farm claims?
There are many ways to file a State Farm claim. To file a claim, you can either call or visit an agent in person.
What is the average time it takes to resolve a claim
State Farm aims to resolve claims within 30 working days. Each claim is unique and can take longer or faster to resolve. You can help speed up the claims process by preparing all documentation and evidence in advance and filing your claim as soon as possible after the incident.
How do I get the best rate from State Farm?
State Farm offers a range of discounts to help customers. To find out what discounts you are eligible for, speak with one of the 19,000 agents. People can save significant money by having a clean driving record, and bundle their auto and home insurance.