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State Farm Insurance Review 2016

Caryn Anderson

Stellar customer service and widespread availability set State Farm apart from its competitors. This well-established insurance carrier was founded in 1922, and it provides more than 100 different types of insurance products and services. State Farm is also the largest property and casualty insurer in the United States, providing around 19% of all auto policies in the country.

Despite its large size, this carrier consistently wins praise for customer service and claims handling. The company also makes it easy to get in touch; simply go online to get a State Farm insurance quote or download the State Farm insurance app to file a claim.

State Farm Auto Insurance

Some of the pros of State Farm car insurance include its strong ratings from independent agencies. For example, it earns an A++ from A.M. Best for its financial stability and performance. It also earns a high AA rating from Standard & Poor due to its strength in paying claims.

State Farm doesn’t offer all of the discounts that other companies have; for example, you won’t get an auto-pay or pay-in-full discount. What it does offer includes the following discounts:

  • Accident-free
  • Anti-theft
  • Defensive driving course
  • Drive safe and save program
  • Driver training
  • Good driving
  • Good student
  • Multiple vehicle
  • Multiple line
  • Passive restraint
  • Steer Clear safe driver
  • Student away at school
  • Vehicle safety

State Farm car insurance policies are easy to customize with coverage options that meet your needs and budget. Some of the basic options include:

  • Liability, which pays for the damages to other people’s property and person, including medical expenses and pain and suffering. Minimum coverage levels vary by state
  • Medical payments coverage pays reasonable medical and funeral expenses for covered individuals
  • Collision coverage, which pays for the damage to a covered vehicle caused by a rollover or a collision with an object or another vehicle
  • Comprehensive coverage pays for any damage caused by something other than a collision or a rollover. Examples include floods, fires, hail and wind
  • Uninsured and underinsured motor vehicle coverage: Protects you from drivers without adequate coverage by paying for the damages if you’re in an accident with an uninsured or underinsured driver
  • Car rental and travel expenses coverage reimburses the cost for these items if your car is disabled in a covered accident

Filing insurance claims is easy with State Farm. Call 800-782-8332 or use the mobile app to contact your agent.

Compare Car Insurance Quotes

Before you decide on an auto insurance company, shop around and compare car insurance quotes to find the one that’s right for you. Many different factors influence the monthly premium that you pay, including your credit score, age and marital status. To illustrate this point, consider the following table:

Insurance CompanySingle Male, Age 25Single Female, Age 25Married Couple, Late-20sMarried Couple, Late-60s
State Farm$148$148$144$121
GEICO$201$212$162$152
Progressive$419$419$424$348
Nationwide$197$187$172$158

For a more exact quote, visit the auto insurer’s website and complete a quote request. Insurance premiums also vary depending on where you live based on the cost of living, weather conditions and local statistics about uninsured drivers.

State Farm Motorcycle Insurance

State Farm’s motorcycle insurance covers a variety of two- and three-wheeled bikes, including custom, classic and factory-built motorcycles, minibikes, motor scooters and trail bikes. The insurance provides coverage for:

  • Bodily injury
  • Property damaged
  • Damage to the bike
  • Theft, fire and vandalism
  • Custom work
  • Loss of protective gear
  • Attached sidecars
  • Expenses associated with trip interruptions

State Farm Home Insurance

State Farm homeowners insurance covers losses to your property caused by theft, riots, vandalism, accidents and weather problems. These policies typically don’t cover intentional property damage or professional services. State Farm recommends insuring your home for a minimum of 100% of the estimated cost of replacing it. If you have unique architectural details, remodel the home or make home improvements, you may need to increase coverage.

State Farm Renters Insurance

Your landlord has insurance to protect the property, but that coverage doesn’t extend to your belongings. Renter’s insurance protects your personal valuables, including electronics, computers, bikes and other property.

State Farm Life Insurance

State Farm is among the nation’s leading providers of life insurance and offers several types of insurance, including term, whole, universal and variable universal life insurance.

  • Term life offers low premiums and high payouts for a fixed term
  • Whole life policies grow in value and allow you to access tax-deferred funds. These policies offer level premiums to 100 years of age
  • Universal life pays interest on your account and provides the option to withdraw funds or borrow against the policy
  • Variable universal life policies were discontinued on September 27, 2008

State Farm Health Insurance

In addition to car and life insurance, State Farm also offers health insurance for individuals who don’t have access to insurance through their employers. The company also offers supplemental policies, medical supplement insurance and Medicare Part D coverage for prescription drugs.

Other Types of Insurance Offered

With more than 100 products and services available, it’s easy to see how consumers use State Farm as a one-stop shop for insurance needs. From business to floods, State Farm offers a full suite of options.

State Farm Business Insurance

Business insurance provides the coverage you need to protect everything from business-related vehicles to brick-and-mortar shops, including retail stores, medical practices and professional offices. State Farm offers everything from tailor-made business policies to liability insurance and surety bonds.

State Farm Gap Insurance

State Farm doesn’t offer gap insurance, but if you choose to get a car loan from State Farm Bank, you get Payoff Protector integrated into the auto loans. This feature works like gap insurance to pay the total you owe on the vehicle.

State Farm Pet Insurance

State Farm doesn’t offer pet insurance.

State Farm Flood Insurance

Typical homeowner policies don’t include coverage for damage caused by flooding. Applicants who live in a community that participates in the National Flood Insurance Program, a federal flood insurance administered by the Federal Emergency Management Agency, are eligible to buy the policy within 30 days of purchasing the property.

State Farm Insurance Locations

State Farm employs more than 18,000 agents and 65,000 employees to handle 82 million+ customers. There are offices in all 50 of the United States and other areas, including:

  • Washington, D.C.
  • Atlanta, Georgia, in a walk-friendly community near restaurants and entertainment
  • Bloomington, Illinois, where the company began in 1922
  • Dallas, Texas, one of the company’s newest locations
  • Phoenix, Arizona, a fast-growing area
  • Alberta, Ontario and New Brunswick, Canada
You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved.
Published August 17, 2016 Updated: August 18, 2016
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