State Farm Insurance: Company Overview

With 48,000 insurance agents and 83 million policies, State Farm has been providing coverage for almost 100 years.

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About State Farm

State Farm was founded in 1922 by George Jacob “G.J.” Mecherle, a retired farmer and insurance salesman. The code of conduct for the company has always been “to help people manage the risks of everyday life, recover from the unexpected and realize their dreams.” From the start, the company was branded as being “Like a good neighbor” and for “being there” for all State Farm customers. Fittingly, the State Farm agent in the television commercials is Patrick Minnis, a real State Farm insurance agent from Tempe, AZ. In 1971, Barry Manilow wrote the famous State Farm jingle that cemented the company’s brand as a helpful neighbor and Weezer covered the famous jingle in 2011.

As a pillar of the community, State Farms has helped pass several seat belt laws over the years and the company continues to champion seat belts and safe driving for teens. In partnership with several U.S highway authorities, State Farm operates a service called the State Farm Safety Patrol, which provides free roadside assistance for fuel refills, radiator refills, engine oil refills and more. The State Farm Safety Patrol personnel are also CPR and AED certified in case drivers are found to be unresponsive. In giving back to local communities, State Farm also has a disaster preparedness and recovery programs and services in place to help people. State Farm actively supports communities by sponsoring programs about homeownership, neighborhood safety and highway safety.

Originally, State Farm was a single-line auto insurance provider, but today they offer about 100 insurance products and services in 5 lines of insurance. As a mutual insurance firm, it ranked #36 on the 2018 Fortune 500 list of the largest U.S. corporations. It is the largest property and casualty insurance provider in the country and the largest auto insurance provider as well. State Farm insures more cars and homes than any other insurer in the U.S. and is the leading insurer of watercraft. Since 1999, State Farm has been expanding its financial services, which include banking and mutual funds.

As of 2017, State Farm has 70,000 employees and 48,000 agents. They have the largest agency pool of any company, with agents serving 83 million policies and accounts throughout the U.S. As the largest insurer in the U.S. State Farm, released an ad featuring basketball stars James Harden and Chris Paul from the Houston Rockets and actor Oscar Nunez of “The Office” to make fun of the idea of robots taking over insurance. An overt attack on technology, it was also a soft kick at Lemonade, a (comparatively tiny) rival in the insurance world, which uses technology instead of manpower to pay out claims. Not only did Lemonade fire back, accusing the giant insurance carrier of feeling threatened by insurtech but they also sponsored the State Farm ads claiming that “today we’re making history. We’re running and paying for our competitor’s attacks ads - we’ve decided to pick up the tab and run it on our own dime.” These ads went viral and backfired against State Farm.

State Farm Facts & Ratings

Year Founded1922
Market Share10.1%
Financial StrengthExcellent
JD Power RankingAbout Average
BBB RatingNR
NAIC Complaint Index2.58
Moody’s RatingA
S&P RatingAA

State Farm Mobile App Rating

iOS     4.815K user reviews
Android     4.116K user reviews

The State Farm Mobile app is available for iOS and android. This award-winning mobile app can help manage insurance and banking accounts, request roadside service, file and track claims and pay bills.

Pros & Cons of State Farm

  • State Farm is the largest auto insurer in the U.S and offers insurance in all states.
  • There are more than 19,000 captive agents across the country so it’s easy to find an agent in your area.
  • State Farm offers a range of insurance packages and is the #1 insurer for watercraft.
  • The State Farm app is an award-winning tool for managing your insurance and bank account.
  • State Farm does not offer accident forgiveness options.

Common Questions about State Farm

What does State Farm full coverage in auto insurance cover?

Full coverage in auto insurance would cover bodily injury and property damage liability, collision, comprehensive, medical payments, car rental and travel expenses, uninsured and uninsured motorist and emergency road service.

How does State Farm rate men versus women for premiums?

In several states, it’s illegal to determine insurance rates based on gender. For the most part, State Farm rates male and female drivers evenly, but younger men pay a little more annually.

How does State Farm insurance work?

State Farms offers many different insurance packages which prepare you for unexpected mishaps and losses, whether it be damage or destruction to your auto, home or business. They also offer life and health insurance packages too.

How to get a State Farm insurance card?

If you do not have a State Farm insurance card, you should contact an agent, who will send one to you or tell you how you can print out a temporary copy.

How to get State Farm insurance on your first car?

As long as you have a driver’s license you can get State Farm insurance.

How to get State Farm insurance online?

Visit SmartFinancial to get free car insurance quotes from State Farm and several other reliable insurance carriers.

How to read a State Farm auto insurance policy?

The declaration page in your policy jacket will list all your coverages and the limits on your coverages. If you have a hard time finding or understanding your policy, it’s important to contact your insurance agent.

How to get a rough estimate cost for auto insurance with State Farm?

Visit SmartFinancial to get free auto insurance quotes, which are a close estimate of what the carriers will charge you.

Does State Farm insurance have competitive rates?

State Farm is one of the top rated insurance companies in the country and offers great coverage and affordable rates. You can get a free quote with State Farm or compare multiple rates here on SmartFinancial.

Does State Farm insurance use credit based insurance pricing?

In states where it’s legal to use credit-based insurance pricing, all insurance agencies are free to do a soft pull on your credit.

Can you pay a full year of car insurance with State Farm?

You can pay for a full year’s worth of car insurance upfront with State Farm. You will also earn a discount for doing so.

Can I add another person to my State Farm car insurance?

Yes, you can include people to your policy. However, that person’s age and driving history will impact your insurance rate.

Why is my State Farm insurance so high?

Your insurance rate may go up due to a number of reasons, including traffic violations, a new job, poor credit, a new garaging address or a DUI. Also, most people’s rates have increased across the board over the past few years due to an increasing number of accidents caused by distracted driving.

Should I call my State Farm agents if it wasn't my fault?

Yes, you must report all accidents to the police and your State Farm agent.

Why should I choose State Farm for my car insurance?

If you have very good credit and live in a state where credit-based rates are the norm, you should get a quote from State Farm insurance.

State Farm Insurance Products

Car InsuranceMotorcycle Insurance
Boat InsuranceOff-road Vehicle Insurance
Motorhome InsuranceHome Insurance
Condominium InsuranceRenters Insurance
Rental Property InsuranceTerm Life Insurance
Whole Life InsuranceUniversal Life Insurance
Supplemental Health InsuranceMedicare Supplement
Individual Medical InsuranceLong-term Disability
Short-term DisabilityBusiness Liability

State Farm Auto Insurance Coverage

Bodily Injury Liability

This form of coverage is required in every state. It covers bodily injuries to a third party in an accident that was deemed your fault.

Property Damage Liability

This form of coverage is required in every state. It covers property damage and loss of use to a third party.

Comprehensive Coverage

This coverage pays for damages and loss other than that caused by a collision. It is subject to a deductible.

Collision Coverage

This coverage pays for damages and loss caused by impact with another automobile, object or person. It is subject to a deductible.

Medical Payments

This type of protection will cover you if you’ve been injured in an accident, regardless of who’s at fault. Coverages include income continuation, loss of services, funeral expenses and child-care expenses.

Car Rental and Travel Expenses

This coverage takes care of renting a vehicle while yours is being repaired. Travel expense coverage helps pay for food, lodging and transportation if you’re involved in an accident more than 50 miles from home.

Uninsured Motor Vehicle

This coverage pays for medical expenses if you’re injured in an accident caused by someone who doesn’t have liability insurance.

Underinsured Motor Vehicle

This coverage pays for medical expenses if you’re injured in an accident caused by someone whose liability limits are lower than what’s needed.

Emergency Road Service

This coverage helps you get back and driving if you have a roadside breakdown.

Rideshare Driver Coverage

If you drive for a rideshare company like Uber or Lyft, this coverage protects you during that period of time when you’re covered by neither your personal auto insurance nor your rideshare company’s insurance.

Discounts

Safe Driver DiscountsAccident-Free Discount
Defensive Driving DiscountStudent Away at School Discount
Good Driving DiscountVehicle Safety Discount
Passive Restraint DiscountAnti-theft Discount
Multiple Auto DiscountMultiple Line Discount

State Farm Auto Insurance Rates by State

Below is a list of the average rates that drivers typically pay with State Farm. On average, State Farm charges approximately $162.94 per month. The cheapest state average is Idaho at $71.00 per month followed by Massachusetts at $75.29 per month. The most expensive state average is Michigan at $360.31 per month.

State Avg monthly rate
AK $100.09
AL $157.32
AR $112.62
AZ $162.97
CA $189.44
CO $131.11
CT $134.87
DC $148.03
DE $173.21
FL $180.65
GA $156.47
HI $82.68
IA $81.71
ID $71.00
IL $105.06
IN $94.96
KS $107.97
KY $94.63
LA $197.34
MA $75.29
MD $177.05
ME $81.24
MI $360.31
MN $97.97
MO $104.98
MS $121.96
State Avg monthly rate
MT $85.50
NC $87.82
ND $91.61
NE $92.87
NH $93.33
NJ $203.59
NM $104.23
NV $207.33
NY $283.08
OH $94.03
OK $111.05
OR $107.96
PA $107.86
RI $100.23
SC $112.18
SD $88.57
TN $103.18
TX $123.61
UT $159.00
VA $91.03
VT $102.34
WA $101.15
WI $85.49
WV $85.22
WY $97.96

State Farm Auto Insurance Rates by Vehicle

Drivers typically will get a discount if they insure multiple vehicles. Here is a list of average rates that State Farm charges for drivers who have more than 1 vehicle.

Number of Vehicles Avg Monthly Rate
1 Vehicle $152.54
2 Vehicles $207.30
3 Vehicles $280.32
8 Vehicles $335.33
4 Vehicles $369.95
5 Vehicles $420.38
6 Vehicles $465.64
7 Vehicles $665.71

State Farm Auto Insurance Rates by Homeownership

Customers who own their home rather than rent can sometimes get a small discount. We found that on average State Farm charges $150.83 per month for drivers who own their home and $167.98 per month for those who rent.

Own/Rent Avg Monthly Rate
Own $150.83
Rent $167.98

State Farm Contact Info

AddressOne State Farm Plaza, Bloomington, IL 61710
Phone1-800-732-5246
Websitehttps://www.statefarm.com
Facebookhttps://www.facebook.com/statefarm
Twitterhttps://twitter.com/statefarm
Youtubehttps://www.youtube.com/statefarm
Linkedinhttps://www.linkedin.com/company/state_farm/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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