State Farm Insurance review: Auto, home and renters

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State Farm is one of the biggest insurance companies in the US. It also offers banking and investment services in addition to their insurance policies. Founded in 1922, State Farm currently employs more than 19,000 agents, so it is easy to find an agent near you in person or over the phone.

State Farm is known for its life insurance, auto, home and renters insurance policies, and it also offers coverage for nearly anything on wheels, including personal cars, motorcycles, RVs and boats.

This kind of flexible, expansive coverage means that whatever you need, State Farm will be there with coverage that will protect you throughout the ups and downs of life.

State Farm auto insurance

State Farm auto insurance offers more than just standard car insurance. Here are a few State Farm coverage options available beyond liability:

  • Rental car reimbursement
  • Rideshare coverage
  • Emergency roadside assistance
  • Uninsured motorist
  • Medical payments

State Farm car insurance discounts include:

  • Steer Clear discount (for drivers under 25 years old)
  • Defensive driving course discount
  • Good student discount
  • Multi auto discount
  • Vehicle safety discount

State Farm also offers a special Drive Safe and Save discount that rewards safe drivers. You can save money by connecting to OnStar or using their mobile app to track your driving. Good drivers can receive up to 30% off their insurance policy.

Younger drivers should take advantage of the Steer Clear program. It helps drivers under 25 learn good driving habits and save money in the process. After completing the program, drivers can get up to a 15% discount on car insurance.

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Cost of State Farm auto insurance

State Farm Average Annual Premium for Minimum Coverage State Farm Average Annual Premium for Full Coverage
$472 $1,422

State Farm car insurance is generally affordable for most drivers. The average full coverage policy costs $1,422 per year and the average minimum coverage policy costs $472 per year. For comparison, the national average full coverage policy costs $1,738 per year and the national average minimum coverage policy costs $563 per year.

However, drivers should keep in mind that these are simply average rates. Car insurance quotes are personalized and your premium will vary based on factors like where you live, your ZIP code, your age, credit score and claims history.

State Farm home insurance

State Farm home insurance is fairly standard. Typically, State Farm home insurance will cover:

  • Weather damage including storms, wind, hail, lightning, freezing, ice, snow or sleet
  • Other damage, including theft, vandalism, riots, aircraft and vehicles
  • Accidents caused by water from plumbing or artificially generated electrical current

These are some of the home insurance discounts available from State Farm:

  • Multiple line discount
  • Home alert protection discount
  • Roofing discounts
  • Higher deductibles

Cost of State Farm home insurance

The average State Farm home insurance policy costs $1,457 per year. In the United States, the average homeowner pays $1,477 per year for home insurance. Overall, State Farm homeowners insurance is just slightly less expensive than the national average rate. However, home insurance policies are priced based on personalized factors like ZIP code, credit score, endorsements, discounts and policy limits.

State Farm renters insurance

State Farm renters insurance usually provides coverage for:

  • Fire or smoke damage to your personal property
  • Damage or loss caused by people, such as thefts and burglaries and vandalism to your property
  • Liability for bodily injury and property damage
  • Loss of use coverage

State Farm renters insurance includes the same discounts as homeowners insurance, with the exception of roofing discounts.

Options and discounts for homeowners and renters insurance change depending on the value of your home and the state you live in.

To find out what is available in your state, contact an agent to talk about the details of homeowners insurance and renters insurance and get a State Farm quote.

State Farm life insurance

The State Farm life insurance division provides a broad variety of life insurance offerings and a few learning tools and calculators to help you learn more about why you would need life insurance, how much coverage you may need and which type would be best for you.

Getting a State Farm life insurance quote online is simple. Enter your state, choose the type of coverage you would like and enter your height and weight for an estimate of how much a policy would cost. The life insurance policies available are:

  • Term life insurance, which covers you for a set period of time
  • Whole life insurance; permanent, with a set monthly premium that includes a death benefit you will leave if you pass away and adds a tax-deferred savings account you can access
  • Universal life insurance; permanent, with flexible monthly premiums, a death benefit and a tax-deferred savings account you can access to fund any purchase you want

Unfortunately, there are no discounts available for life insurance. State Farm multiple line discounts only apply to auto insurance premiums.

State Farm ratings, reviews, customer satisfaction, and complaints

According to the 2020 J.D. Power U.S. Auto Claims Satisfaction Study, State Farm earned a score of 881 out of 1,000.

As for State Farm reviews for life insurance, the insurer ranks high. State Farm took the top spot in the J.D. Power 2020 U.S. Life Insurance Study, with a score of 838 out of 1,000.

State Farm also holds an A++ financial rating from AM Best, a credit rating agency that scores the financial strength of providers and the ability they would have to pay claims. However, the National Association of Insurance Commissioners reports higher than average customer complaints.

According to State Farm reviews from Consumer Affairs, many policyholders enjoy how easy it is to file a claim online or even from their phone. Others find it convenient to be able to talk to their local agent. Customers love State Farm’s discounts for safe drivers, including teen drivers.

Additional policies offered by State Farm

Customers who choose State Farm can bundle their insurance with one or more of the following types of insurance coverage:

  • Condo
  • Farm and ranch
  • Manufactured home
  • Boats, motorcycles and RVs
  • Umbrella
  • Identity theft
  • Business
  • Commercial auto

Frequently asked questions

What do I need to get a quote from State Farm?

Requesting a quote from State Farm starts with a few pieces of information, such as your name, contact information, ZIP code and the type of insurance needed. For life insurance, you will need to provide your weight and height to receive a quote.

Can I apply online for State Farm life insurance?

You cannot apply for all life insurance products online. If during the online application process, the type of life insurance you are interested in does not come up as an option, you will need to visit your local State Farm agent to get started.

How do I file State Farm claims?

Filing State Farm claims can be done in a variety of ways. You can call an agent, visit an agent in person, file a claim online or use the State Farm app on your phone to file a claim.

How long does it take to resolve a claim?

State Farm attempts to resolve claims in less than 30 days.

How can I get the lowest rate possible from State Farm?

State Farm provides a variety of discounts to attract customers. Talk with one of the 19,000 agents to find out which discounts you qualify for. Most people save a considerable amount of money if they have a clean driving record and if they bundle their home and auto insurance.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Auto:

  • Bodily injury liability per person: $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.

Homeowners:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Rates are determined based on 2020 Quadrant Information Services data