Since its inception, the insurance industry has never left the public eye, and so has the name State Farm Insurance. The insurance company has become a household name within the U.S since its establishment in 1922.
In fact, State Home has insured more homes and cars across the U.S than other insurers. And with over 50,000 employees power, what does this insurance company offer? Stay tuned if you’re interested.
This article will cover various aspects of State Farm Insurance, including its insurance rates, customer reviews, and more. Keep scrolling to know more.
What is State farm Insurance?
State Farm Insurance is a long-standing company across the United States. In fact, it’s known as the biggest homeowners insurance company across 39 states in the US.
Although insurance remains its primary product, the company provides several other products, including personal loans, bank accounts, and investments. This makes the company far more reputable as well.
But, if you’re not well-versed with this company, you may know them by their famous ‘good neighbor’ slogan. This particular premise began about 100 years ago when an insurance salesman and a retired farmer, George Jacob Mecherle, founded an auto-insurance company aimed at the farming community.
Soon, the company expanded, and the rest is history. Today, State Farm provides around 100 services and products in multiple lines of business, such as mutual funds, annuities, life & death, banking, property & casualty.
As of 2020, State Farm has serviced over 80 million accounts and policies. Apart from insurance, the firm is considered one of the largest banks in the United States, with over $16 billion in assets and $500,000 mutual fund account. It is estimated that the firm handles over 30,000 claims in a day.
What is the State farm Insurance rate?
State Farm has favorably low rates when compared to other companies. On average, the customer usually pays around $1,200 per year for coverage. The rate is arguably lower by about $200 compared to the national average.
The company’s rate is usually below average for many drivers, while for teen drivers and individuals with DUI or accidents on record, the rate is quite competitive.
However, those with poor credit may not get the best rate. On average, poor credit drivers will pay around $3,600 yearly for coverage, surpassing the national average.
Regarding new policyholders, State Farm also offers the option of paying off the entire amount upfront and provides some type of discount. But, most drivers usually choose the monthly option.
Based on individual needs, the company also provides coverage ranging from six to twelve months with quite reasonable rates. However, whether the rates seem favorable or not, it’s important to remember that auto insurance rates can vary depending on location, age, driving record, vehicle type, and credit history.
Although the company does not brand itself as a type of discount insurance company, State Farm prices still serve as a pretty affordable choice for many people. This is especially useful when compared to several other top insurers found within the US market.
Before you go all in with any policy, just make sure you read up on the different provisions and policies for each plan. This is very important, especially with insurers like State Farm, which offer different plans with different rates.
How to Reach State Farm Insurance Customer Care and Support?
State Farm insurance provides 24/7 customer care and support.
Customer Care Phone Number: +1800-782-8332
The help section will contain various topics regarding login, mobile apps, policy, and account management. The page will also contain an FAQ section and sub-topics surrounding claims, banking, and insurance.
For active policies, the company offers various tips & tools to help navigate and manage accounts, find discounts, make payments, and more. If you’re looking to connect with a company representative, you can also connect directly via the phone helpline, which can be found on the website as well.
How to Make a State farm Insurance claims process
If you’re looking to claim insurance from the company, you’ll have to first gather all the required details, such as:
- Date of accident
- Address/location of the incident
- Vehicles or property involved
- Contact details
- Insurance policy number
Once all the required details are set aside, you can visit the official State Farm Insurance website to file your claim.
To file a claim, visit https://www.statefarm.com/claims/file-a-claim.
You can also file by calling their phone numbers:
This will redirect you to the insurance claim page, which will have several options about the type of filing, such as Auto and motorcycle, heath, life, and now. You can also find several FAQs related to claims if you require further assistance.
If you have already filed a claim, you can also track your claim from the website. You can file the claim through a desktop browser or through the State Farm insurance mobile app at your own convenience.
Are State Farm Insurance reviews Good?
State Farm Insurance does not have over-the-top reviews. However, the company does have average customer satisfaction. The company has quite favorable reviews overall, but the ratings vary according to the different services and products offered by State Farm.
Looking at its cost, the company is pretty inexpensive for the majority of drivers, which includes drivers with traffic violations and teen drivers.
As an auto insurance provider with a relatively large market share throughout the US, State Farm ranks well and high among competitors. It is estimated that the company ranks very high among providers regarding financial stability. This alone makes State Farm one of the top car insurance providers in the country.
While the company offers several discounts to customers that meet specific requirements, the company has also received several complaints, which is directly reflected in its overall customer satisfaction.
However, due to its good neighbor slogan and policy, customer trustworthiness and service have become one of its best selling points. It has great policies and plans. Thus, the company ranks well when its overall performance is factored in.