State Farm Insurance review 2024; Rates & Key Features
State Farm stands as a titan in the insurance industry, renowned for its comprehensive coverage options spanning home, auto, and life insurance. This powerhouse is celebrated for its exceptional customer service, extensive network of agents, and solid financial footing, making it a reliable choice for policyholders nationwide. With its blend of accessibility, robust coverage, and customer satisfaction, we give State Farm a glowing 5 out of 5 stars.
At a Glance
Visit SiteState Farm, with its century-long history, has established itself as a household name in the insurance world, serving millions of customers across the United States. It’s not just the breadth of its offerings that sets it apart, but also the depth of its commitment to customer service.
Whether you’re looking for auto, home, or life insurance, State Farm’s portfolio is designed to meet a diverse range of needs, ensuring that every customer finds a tailor-made solution. Its extensive network of agents ensures personalized service, making insurance more accessible and understandable to all.
Moreover, State Farm’s financial stability is a significant highlight. Rated highly by major financial rating agencies, it reassures policyholders of its capability to meet claims. This financial strength, combined with innovative tools like mobile apps and online resources, empowers customers to manage their policies and file claims with ease.
Benefits & Drawbacks
⇅- Excellent customer service and personal relationships with local agents
- Superior financial strength with an A++ rating from A.M. Best
- Good discount opportunities, particularly for students and teens ✓
- Does not offer guaranteed asset protection (GAP) insurance
- Discounts vary and might not be available in all states
- Homeowners insurance premiums higher than the national average ✘
Is State Farm Good? Insuranceopedia’s Take
State Farm is one of the largest and most recognizable insurance providers in the United States, offering a wide range of insurance products, including auto, home, life, and health insurance, among others. Whether State Farm is a good insurance company depends on various factors, including customer service, coverage options, pricing, and claims satisfaction.
One of the key aspects that make State Farm stand out is its extensive network of agents. With thousands of agents across the country, State Farm provides personalized service and support to its policyholders. This can be particularly beneficial for individuals who prefer face-to-face interactions when discussing their insurance needs.
In terms of coverage options, State Farm offers a comprehensive selection of policies to meet the diverse needs of its customers. Whether you’re looking for basic coverage or more specialized protection, such as umbrella insurance or identity theft coverage, State Farm has options to consider.
Reviews By Product
Select one of the policy types below to find out more
State Farm Auto Insurance Review
Known for its competitive pricing, comprehensive coverage options, and exceptional customer service, State Farm auto insurance is a leader in the industry.
The company excels in providing personalized policies through its extensive agent network, making it a reliable choice for drivers seeking top-tier auto insurance.
State Farm Auto Insurance Cost
The average cost of full-coverage car insurance from State Farm is approximately $1,647 per year or $138 per month. For minimum coverage, the average annual cost is lower, around $1,032. This makes State Farm 21% cheaper than the national average, which sits at around $1,547.
It’s also worth noting that State Farm’s rate is competitive when compared to other top insurers. For instance, Geico’s average sample rate is $1,250 per year, while Nationwide offers an average premium of $1,657 per year.
State Farm’s competitive rates make it an affordable choice for many drivers. However, the cost can vary significantly based on individual circumstances.
For example, younger drivers typically pay higher premiums due to their lack of driving experience. Meanwhile, older drivers with clean driving records may be able to secure lower rates. Therefore, it’s essential to get a personalized quote to determine the exact cost for your specific situation.
State Farm Average Rates by Age
| Age | Average Monthly Cost | Average Annual Cost |
| 16 | $460 | $5,514 |
| 25 | $163 | $1,952 |
| 35 | $138 | $1,657 |
| 45 | $136 | $1,628 |
| 55 | $128 | $1,534 |
State Farm Average rates by driver profile
| Driver Profile | Average Monthly Cost | Average Annual Cost | National Average Annual Cost |
| Good credit and driving history | $138 | $1,657 | $2,008 |
| Recent speeding ticket | $156 | $1,872 | $2,508 |
| DUI | $183 | $2,194 | $3,431 |
| Recent accident | $163 | $1,953 | $2,919 |
Is State Farm expensive compared to other companies?
Here’s how State Farm’s minimum-coverage costs stack up against those of other leading insurance providers.
| Car Insurance Company | Average Monthly Rate Estimate | Average Annual Rate Estimate |
| Auto-Owners Insurance | $30 | $358 |
| USAA | $32 | $387 |
| Erie Insurance | $33 | $390 |
| Geico | $38 | $461 |
| State Farm | $44 | $523 |
| Nationwide | $44 | $531 |
| Progressive | $58 | $697 |
| Auto Club Enterprises (AAA) | $63 | $754 |
| American Family Insurance | $68 | $810 |
| Allstate | $71 | $854 |
State Farm Auto Insurance Claims
In the unfortunate event of an accident or damage, filing a claim with State Farm is designed to be as straightforward and stress-free as possible.
When you’re ready to file your claim, there are several ways you can do so. You can file online through the State Farm website or through their mobile app, making the process quick and easy.
If you prefer to speak to someone directly, you can call 800-SF-Claim (800-732-5246) at any time, day or night.
Once you’ve filed your claim, State Farm will check into it in a timely manner. Rest assured, your claim will be handled individually because each claim is unique.
When it comes to settling your claim, State Farm offers to pay for the repair, replacement, or pay the agreed-upon actual cash value of your vehicle. If you’ve filed a total loss auto claim, State Farm will guide you through the entire process.
State Farm coverage
State Farm offers an extensive range of insurance coverage options, ensuring you’re covered whether you’re at fault in an accident or fall victim to unexpected incidents like theft or vandalism.
Comprehensive Coverage
Comprehensive coverage from State Farm helps pay for repair or replacement of your vehicle if it’s damaged by something other than a collision. This includes theft, fire, vandalism, weather events, and collisions with animals.
It’s an excellent choice for those wanting to ensure they’re covered against a wide range of potential issues.
Liability Coverage
Liability insurance is crucial as it covers expenses when you’re at fault in a crash. The coverages extend to the other vehicle(s) and people who sustain damages in the crash. This coverage is usually required by law and provides essential protection against potentially costly claims.
Collision Coverage
State Farm’s full coverage auto insurance covers collision damage, regardless of fault. So, whether you accidentally hit another car or a stationary object, your repair costs can be covered.
Uninsured & Underinsured Motorist Coverage
Another vital coverage option offered by State Farm is uninsured and underinsured motorist insurance. This coverage helps protect you if you’re involved in an accident with a driver who doesn’t have insurance or whose insurance isn’t sufficient to cover the costs.
State Farm Car Insurance Discounts
State Farm offers a variety of savings opportunities to make your car insurance premiums more affordable. In addition to lower-than-average insurance premiums, State Farm auto insurance customers can take advantage of these discounts:
- Multi-policy discount: Bundle your auto insurance coverage with renter’s insurance, homeowner’s insurance or life insurance to receive a multi-policy discount.
- Multi-car discount: If you have more than one vehicle, you can save on total insurance premiums by insuring both cars on the same policy.
- Good driver discount: Reduce insurance premiums by staying accident-free and avoiding speeding tickets or other traffic violations.
- Good student discount: Full-time students with good grades can lower their insurance premiums by up to 25%.
- Student away at school discount: Save money when your student under 25 is away at school and not using their car.
Vehicle safety discount: Modern cars with updated safety features such as anti-theft qualify you for discounted insurance premiums.
State Farm Home Insurance Review
With its extensive coverage options, customizable policies, and remarkable claim service, State Farm home insurance stands out as a top choice for homeowners.
The company’s commitment to customer satisfaction and its network of knowledgeable agents contribute to its excellence in this category.
State Farm Homeowners Insurance Quotes
| $200,000 Dwelling Coverage | $350,000 Dwelling Coverage | $500,000 Dwelling Coverage | $750,000 Dwelling Coverage | Average | |
| State Farm Average Annual Cost | $1,023 | $1,475 | $1,987 | $2,779 | $1,816 |
| National Average Annual Cost | $1,117 | $1,582 | $2,090 | $2,950 | $1,935 |
State Farm home insurance discounts
Like most home insurance companies, State Farm offers its customers discounts for having more than one policy with the company and for taking steps to reduce the risk of losses. Here are some ways you may be able to save on State Farm home insurance.
Bundling
If you insure both your home and your vehicles with State Farm, you could save up to an average of 23% annually on your home insurance costs.
High deductible
Your deductible is the amount subtracted from your claim payout before your insurance company issues you reimbursement for repairs. The higher your deductible is, the cheaper your home insurance rates will be, but it also means the more you’ll have to pay out of pocket for repairs.
With State Farm, if you raise your deductible from $500 to $2,000 you may save as much as 16% on your home insurance costs.
Home safety and security
If you have home monitoring devices such as burglar alarms and smoke detectors, State Farm may reduce your homeowners insurance premiums.
Roofing
State Farm offers homeowners insurance discounts in 26 states for using certain types of impact-resistant shingles.
State Farm Home Insurance Coverage
State Farm offers a variety of coverage options for home insurance to meet the diverse needs of homeowners. Here are the different types of coverage available:
- Dwelling Coverage: This covers the physical structure of your home, including the walls, roof, floors, and built-in appliances, in case of damage or destruction due to covered perils like fire, windstorms, or vandalism.
- Other Structures Coverage: This extends coverage to structures on your property that are not attached to your main dwelling, such as detached garages, sheds, fences, or guesthouses.
- Personal Property Coverage: This protects your personal belongings inside your home, including furniture, clothing, electronics, and other items, from covered perils, whether they’re damaged, stolen, or destroyed.
- Loss of Use Coverage: If your home becomes uninhabitable due to a covered loss, this coverage helps pay for additional living expenses, such as temporary housing, meals, and transportation, while your home is being repaired or rebuilt.
- Personal Liability Coverage: This provides financial protection if you’re found legally responsible for injuries or property damage to others. It can help cover legal expenses, medical bills, and damages awarded in a lawsuit.
- Medical Payments Coverage: This covers medical expenses for guests who are injured on your property, regardless of who’s at fault. It can help pay for immediate medical treatment, such as doctor’s visits, hospital stays, or surgery.
State Farm also offers optional coverages and endorsements that homeowners can add to their policies for additional protection, such as identity theft coverage, earthquake coverage, and increased limits for specific items like jewelry or fine arts.
State Farm life insurance Review
State Farm offers a variety of life insurance products to meet the diverse needs of its customers, including term life, whole life, and universal life insurance options.
While the company is praised for its strong financial stability and customer service, the product range and value proposition may not match everyone’s needs perfectly, leading to a slightly lower score..
State Farm Life Insurance Quotes
| Age & Gender | Monthly Premium |
| Age 35 Female | $54.79 |
| Age 35 Male | $69.59 |
| Age 45 Female | $119.19 |
| Age 45 Male | $149.69 |
| Age 55 Female | $269.69 |
| Age 55 Male | $389.79 |
| Age 65 Female | $854.39 |
| Age 65 Male | $1,158.89 |
State Farm life insurance coverage
State Farm offers various types of life insurance coverage to meet the diverse needs of individuals and families. Here are the different types of coverage available:
Term Life Insurance
Term life insurance provides coverage for a specific period, typically ranging from 10 to 30 years. It offers a death benefit to beneficiaries if the insured passes away during the term of the policy. Term life insurance is often more affordable than permanent life insurance and is suitable for individuals who need coverage for a specific period, such as to replace income during working years or to cover mortgage payments
Whole Life Insurance
Whole life insurance provides lifelong coverage, meaning it remains in force for the insured’s entire life, as long as premiums are paid. It includes a death benefit for beneficiaries and also accumulates cash value over time, which can be accessed through policy loans or withdrawals. Whole life insurance offers fixed premiums and guarantees, making it a stable option for long-term financial protection and estate planning.
Universal Life Insurance
Universal life insurance offers flexible premiums and death benefits, allowing policyholders to adjust their coverage and payments based on their changing needs and financial situation. It accumulates cash value over time, with the potential to earn interest at a competitive rate. Universal life insurance provides the security of permanent coverage while offering flexibility in premium payments and investment options.
Variable Universal Life Insurance
Variable universal life insurance combines the flexibility of universal life insurance with investment options similar to those found in variable life insurance. Policyholders can allocate their premiums among various investment accounts, such as stocks, bonds, or mutual funds, allowing for the potential to accumulate cash value and grow their policy’s value over time. However, the cash value and death benefit can fluctuate based on the performance of the underlying investments.
Joint Life Insurance
Joint life insurance covers two individuals under a single policy, typically spouses or partners. It pays out a death benefit upon the first insured’s passing, and coverage typically ends at that point. Joint life insurance can be more cost-effective than purchasing separate policies for each individual and is suitable for couples who want to ensure financial protection for their loved one in the event of either spouse’s death.
State Farm also offers additional riders and options that policyholders can add to their life insurance policies for enhanced coverage, such as accelerated death benefits, child riders, and disability income riders.
Compare State Farm to other insurance brands
State Farm might be an attractive option if you’re looking for comprehensive coverage at a competitive rate. Drivers with infractions also have found State Farm to be affordable.
GEICO has wide availability through its broker network and might be a suitable choice for those located in rural areas.
Allstate is often considered a good choice for car insurance due to its comprehensive coverage options and robust discount programs.
State Farm Insurance Reviews
Testimonial
Testimonial
State Farm customer complaints
These are several complaints found on the BBB (Better Business Bureau) website:
01/28/2024 – Complaint Type: Billing/Collection Issues: “They took my payment but still cancelled the policy.”
01/25/2024 – Complaint Type: Problems with Product/Service: “I cancelled an insurance policy on my 2 Toyota Tacoma trucks in late October 2023. The refund check never arrived ( they had the correct address) and I have been contacting them at the office of ***** ** ****** in Page , Arizona since. They keep giving me the run around telling me that they will take care of it. It’s been over two months. The amount of money they owe me is $656.87. Please help me. Thank you.
01/19/2024 – Complaint Type: Billing/Collection Issues: They are charging me 2 and 3 times the insurance amount in the last 4 months I call and said are we up to date now ? They keep beating around not being clear said I don’t know??? I asked to speak to manager. They won’t connect me to the owner . I am exhausted and tired I believe they are stealing my money. My insurance was $60. Then $ 80. Then $140. $145. Help please.
FAQs
Is State Farm Expensive?
State Farm’s premium rates vary depending on factors such as location, coverage level, and individual circumstances. While it may not always be the cheapest option, many customers find its rates competitive considering the comprehensive coverage and quality service provided.
Does State Farm Have Good Ratings?
Yes, State Farm consistently receives high ratings from reputable agencies such as A.M. Best, Moody’s, and Standard & Poor’s. These ratings reflect the company’s strong financial stability and ability to meet its obligations to policyholders.
Does State Farm Have A Good Reputation?
State Farm has built a solid reputation over its decades-long history for reliability, customer service, and claims satisfaction. Many customers appreciate its extensive agent network, personalized service, and prompt claims processing, contributing to its positive reputation in the insurance industry.
