State Farm is one of the most recognizable names in the insurance industry in the United States. The company, founded in 1922, offers insurance products and financial services in all 50 US states and Canada. Founder, George Jacob “J.J.” Mehserle, originally founded an insurance company with one product – auto insurance. Since then, it has become one of the largest insurance companies in the US.
Is state farm insurance right for you?
State farm insurance may be right for you if you are looking to consolidate all your insurance needs with one insurer. From start-up insurance and health insurance to renter’s insurance and term life insurance plans, and even coverage for your car, you can get it all through State Farm too. State Farm also offers investment and banking services, with many online tools and applications.
In total, the state farm offers about 100 types of products.
Where is state farm insurance offered?
Coverage is available in all 50 US states, so no matter where you live in the US, you can find coverage at State Farm. However, insurance policies, coverage, and restrictions may vary by state.
Pros and cons of state farm insurance
- Variety of products and services
- Various Internet resources
- Life insurance without exams available
- Average customer service
Explanations in state farm insurance
Variety of products and services: In addition to the home, auto, life, health, and business insurance options, State Farm offers banking and investment services, including real estate, trusts, annuities, pension funds, and more.
Online Resources: State Farm offers many 21st century resources. You can use the State Farm mobile apps to file or verify claims, get roadside assistance, or check bank and insurance accounts. There are also many online tools available – you can even change coverage, pay bills, or change agents online.
No Exam Life Insurance Available: Instant Response Term Insurance – A $50,000 life insurance policy that does not require an exam. Offered to new members aged 16 to 45. All you have to do is answer some health questions.
State Farm Insurance Tips
Average Customer Service Rating: State Farm is not the top customer service/claims rating at JD Power & Associates, despite being the third-highest insurer in the U.S. in terms of written insurance premiums as of 2018. Customer ratings at the Better Business Bureau are also low, and State Farm has been the subject of a lawsuit in California.
State farm insurance products
State Farm Insurance offers several types of insurance policies for personal and business needs.
Property Insurance: Coverage is available for homes, apartments, rental properties, personal effects, industrial homes, farms and ranches, and renter insurance. Flood insurance is offered to the public through the National Flood Insurance Program.
Car insurance: Cars, motorcycles Boats, SUVs, and motorhomes may be covered by State Farm.
Personal insurance Life insurance plan options include term, lifetime, and universal life insurance. Health insurance plans include supplemental health care, Medicare supplements, individual health plans, long-term disability, short-term disability, and personal loans. Personal liability protection and identity recovery are also available.
Business Insurance: Business and professional liability insurance are available along with a wide selection of small business insurance options tailored to your area, including condo associations, restaurants, wholesalers, and specialty schools. The state farm has, among other things, commercial auto insurance and workers’ compensation.
What discounts does state farm insurance offer?
Drivers under the age of 25 can save up to 15% if they have a clean driving record in the last three years, 25% if they get good grades and a discount on school attendance.
For all ages, additional discounts are offered for taking defensive driving courses, multi-vehicle covered by State Farm, or signing up for the Drive Safe & Save app, which uses information from your smartphone or OnStar to provide a safe discount. drivers.
There are also discounts on cars with airbags or anti-theft devices, and cars made in 1994 or later.
Homeowners can receive discounts for having alarm systems, upgrading utilities with qualified contractors, and installing impact-resistant roofing, primarily metal roofing materials. Condominium owners can save money if automatic sprinklers are installed.
Other notable proposals
- Community Deals: This app-driven program gives members discounts on dining, gyms, travel, and more.
- Good Neighborhood This initiative connects State Farm members with volunteering opportunities for registered non-profit organizations and causes.
- Rideshare insurance: State Farm offers not only for insurance companies but also for Uber and Lyft drivers.
- Personal Articles Policy: This policy provides worldwide coverage, even while traveling, and covers a variety of valuables, including race bikes, jewelry, fine art, wedding gifts, medical and artificial limbs, stamp collections, and other collectibles.
- Farm and Ranch Insurance: As the name suggests, State Farm offers insurance for livestock and crop farms, as well as farm structures and assets such as machinery.
State Farm Ratings and Reviews
At the state farm, there is A.M. Best’s “A++ (Superior)” rating, which is the highest financial strength rating available from Corresponding Member of Best. It also has an AA rating from S&P Global Ratings which is also very high.
With JD Power, State Farm ranked sixth in the 2019 U.S. Automotive Claims Satisfaction Survey with a “near average” rating. In JD Power’s 2019 homeowner and renter insurance survey, State Farm ranks fifth and third, respectively. For JD Power’s 2019 Life Insurance Survey, State Farm ranks second in overall satisfaction.
With Better Business Bureau, State Farm has an A+ rating, but the average customer reviews are just over one star. State Farm is not BBB accredited and is the subject of litigation in the State of California regarding its homeowner policy.