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State Farm Insurance review 2024

Updated Jun 12, 2024
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At a glance

bankrate awards logo

BANKRATE AWARD WINNER FOR BEST TERM AND UNIVERSAL LIFE INSURANCE COMPANY

4.3
Rating: 4.3 stars out of 5
Bankrate Score
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Auto

Rating: 4.3 stars out of 5

4.3

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Cost & ratings

Rating: 4.3 stars out of 5

4.3

Coverage

Rating: 4 stars out of 5

4.0

Support

Rating: 4.4 stars out of 5

4.4

Home

Rating: 4.2 stars out of 5

4.2

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Cost & ratings

Rating: 4.5 stars out of 5

4.5

Coverage

Rating: 3.7 stars out of 5

3.7

Support

Rating: 4.3 stars out of 5

4.3

About Bankrate Score

Bankrate's take

State Farm may be a good option for drivers and homeowners seeking highly-rated customer service or straightforward home and auto policies managed by a local agent. It’s also among the best life insurance companies, according to Bankrate’s analysis.

  • Wide network of local agents
  • Two safe driving programs
  • Above-average customer satisfaction scores for auto and home
  • No-exam term life insurance available
  • Available in most states
  • Highly-rated mobile tools

New

What’s new with State Farm?
  • Starting September 1, 2024, State Farm will reduce its discounts offered to California homeowners for taking wildfire mitigation efforts from 7 percent to 6.3 percent.
  • In May 2023, State Farm announced that it would no longer write new home insurance policies in California, citing “historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market” as the main motivators behind the decision.
CTA We want to know what you think about State Farm

We want to know what you think about State Farm

Do you have experience with State Farm? Let us know your thoughts.

State Farm car insurance review

In Bankrate’s 2024 analysis of auto insurance carriers, State Farm received a high Bankrate Score of 4.3 out of 5.0. Our State Farm insurance review looked at average premium data along with coverage offerings, discount availability, financial strength ratings and customer satisfaction scores. State Farm, which works with an extensive nationwide network of local agents, consistently outranks the industry average in J.D. Power customer satisfaction studies, and its A++ (Superior) financial strength rating from AM Best is the highest possible.

State Farm offers auto insurance in all states except Massachusetts and Rhode Island. In terms of coverage, State Farm’s offerings are fairly basic; beyond standard coverage like liability, comprehensive and collision coverage, State Farm offers just a handful of common endorsements, including ridesharing coverage, roadside assistance and travel expense coverage. Available discounts from State Farm vary based on location, but many states have a long list of discounts for auto insurance.

Pros and cons of State Farm car insurance

Like most car insurance companies, State Farm presents a mix of advantages and disadvantages. Understanding State Farm’s strengths and weaknesses may help you determine whether this carrier is a good fit for your insurance needs:

Green circle with a checkmark inside

Pros

  • Numerous discounts available in most states
  • Highly-rated mobile app for hands-on policy management
  • Plenty of agencies located across the country
Red circle with an X inside

Cons

  • Gap insurance is not available
  • Cannot purchase accident forgiveness
  • No live chat
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State Farm car insurance cost

According to Bankrate’s study of quoted annual premium data from Quadrant Information Services, State Farm’s average annual full coverage premiums are slightly higher than the national average cost of car insurance at $2,624 per year, compared to the national average of $2,311. Drivers seeking minimum coverage, on the other hand, pay an average of $827 per year with State Farm, compared to the national average of $640. For some customers, State Farm will be the cheapest car insurance company, but recent rate hikes in many states may make State Farm a less competitive option for others.

How much is State Farm car insurance?

The exact cost of auto insurance from State Farm depends heavily on the rating factors in your individual driver profile. Those factors include your age, your driving history, and — in most states — your credit score. If you have a DUI conviction on your record, for instance, you won’t be able to get a new auto insurance policy from State Farm, and drivers with other violations may pay higher rates.

Good driver, good credit
State Farm full coverage premium
$2,624
National full coverage premium
$2,311
State Farm full coverage premium
$9,043
National full coverage premium
$4,261
State Farm full coverage premium
$3,051
National full coverage premium
$2,789
State Farm full coverage premium
$3,375
National full coverage premium
$3,299
State Farm full coverage premium
$4,762
National full coverage premium
$4,426
*All rates displayed are average annual rates.
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Bankrate's take

State Farm does not issue new auto insurance policies to drivers with a DUI conviction. If you have this type of violation on your record, you may need to shop around with other carriers to find affordable coverage.

State Farm car insurance quotes by age

Teen drivers may pay the highest rates for auto coverage from State Farm, especially when purchasing a standalone policy. The rates below are based on drivers with a clean driving record, and teen driver rates reflect the cost of a policy for a married couple and a teenage driver. Keep in mind that State Farm offers multiple discounts geared toward lowering rates for young drivers, including the Steer Clear program.

State Farm full coverage premium
$5,316
National full coverage premium
$4,974
State Farm full coverage premium
$4,575
National full coverage premium
$4,280
State Farm full coverage premium
$4,947
National full coverage premium
$4,697
State Farm full coverage premium
$3,085
National full coverage premium
$2,930
State Farm full coverage premium
$2,718
National full coverage premium
$2,500
State Farm full coverage premium
$2,624
National full coverage premium
$2,311
State Farm full coverage premium
$2,392
National full coverage premium
$2,080
State Farm full coverage premium
$2,624
National full coverage premium
$2,311
State Farm full coverage premium
$2,392
National full coverage premium
$2,080
*All rates displayed are average annual rates. Rates are based on our good driver profile, with 16- and 18-year-old drivers added to their parents’ policy.

Compare State Farm car insurance rates

Every auto insurance company calculates the cost of car insurance using a different set of algorithms, which means that each carrier has different average rates. Historically, State Farm has offered cheaper auto insurance rates than most other major carriers, but rate increases over recent years may mean that other auto insurance companies offer more affordable premiums.

Company Avg. full coverage premium Avg. min coverage premium
$2,624
$827
$2,055
$649
$2,892
$861
$2,016
$561
$1,950
$702
$2,222
$748
$1,895
$494
$1,901
$719
$1,696
$440
CSAA
$3,573
$603
$2,222
$748
$1,895
$494
$1,901
$719
$1,696
$440
CSAA
$3,573
$603
*All rates displayed are average annual rates.

State Farm customer satisfaction

To get a sense of how successful State Farm is at meeting its customers’ needs, we took a look at third-party metrics like the J.D. Power 2023 U.S. Auto Insurance Study, which measures customer satisfaction by carriers across several geographic regions, and the National Association of Insurance Commissioners (NAIC) complaint index, which compares an insurer’s number of customer complaints to the industry average based on its market share. In both cases, State Farm performed well, indicating that it has very good customer service for most policyholders.

State Farm auto claims satisfaction

In all 11 geographic regions studied by J.D. Power in the 2023 U.S. Auto Insurance Study, State Farm scored above the industry average for customer satisfaction, ranking first overall in Florida and the Southwest and in the top three carriers in seven other regions. Based on these findings, along with State Farm’s fifth-place finish in the 2023 U.S. Auto Claims Satisfaction Study, we conclude that State Farm is consistently successful in meeting customers’ needs.

State Farm auto insurance customer complaints

The NAIC provides another way to gauge customer satisfaction by tracking complaints for U.S. insurers based on their market share. Carriers who score above the industry baseline of 1.00 have an above-average rate of complaints, while carriers with scores below 1.00 receive fewer complaints than average based on their size. In 2023, State Farm’s NAIC complaint index score for private passenger auto insurance was 0.78, indicating that it has a smaller number of complaints than other insurers despite a minor increase in State Farm customer complaints since 2021.

State Farm car insurance discounts

If you're looking for cheap car insurance, State Farm offers robust auto insurance discounts to supplement its already low average premiums. The following discounts and programs may save you money:

  • Drive Safe & Save: This usage-based insurance telematics program may offer drivers a premium discount up to 30 percent by tracking your safe driving habits.
  • Steer Clear: Drivers under the age of 25 in eligible states could qualify for a discount for maintaining a clean driving record, recording their trips on a mobile app and completing a safe driver program that involves quizzes and video tutorials.
  • Good student discount: Drivers under the age of 25 in eligible states could qualify for a discount for maintaining a clean driving record, recording their trips on a mobile app and completing a safe driver program that involves quizzes and video tutorials.
  • Good student discount: You may save if you are a high school or college student with a grade point average equivalent to a “B” or higher.
  • Multi-car discount: You may save on your premium if you insure more than one vehicle with State Farm.
  • Good driver discount: New policyholders may get a discount for remaining at-fault accident and violation-free for at least three consecutive years.

Get personalized auto insurance quotes

Answering a few quick questions to check your availability with State Farm
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

State Farm home insurance review

With nearly 18 percent of the market share, State Farm is the most popular provider of homeowners insurance in the U.S. That may be partly due to its nearly nationwide reach — policies are available in all states except California, Massachusetts and Rhode Island — but State Farm’s Bankrate Score of 4.2 indicates that the company’s success is due to more than sheer size.

High customer satisfaction scores and an excellent track record with claims (per J.D. Power) set State Farm apart from the crowd of home insurance companies. In addition to standard homeowners coverage such as dwelling, personal property, liability and additional living expense coverage, State Farm offers homeowners many opportunities to customize their policies. State Farm’s personal articles coverage offers additional financial protections for items like jewelry, keepsakes, equipment and medical devices that might not be fully covered by a traditional home insurance policy. Policyholders can also take advantage of replacement cost coverage, an electrical fire prevention program in partnership with Ting and State Farm’s Premier Service Program, which helps eligible policyholders find reputable contractors following a covered loss.

Pros and cons of State Farm homeowners insurance

If you’re looking for home insurance quotes, you may want to include State Farm in your search. The pros and cons listed below give a quick snapshot of State Farm’s strengths and weaknesses when it come to homeowners insurance:

Green circle with a checkmark inside

Pros

  • Scored above the industry average for claims and overall satisfaction per J.D. Power
  • Policyholders may qualify for a free fire hazard monitoring device
  • Roofing discounts available in certain states
Red circle with an X inside

Cons

  • Fewer homeowners insurance discounts compared to some companies
  • May need to speak with an agent to get a full view of the company’s homeowners endorsement options, as they are not listed on its website
  • Not available in CA, MA and RI
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State Farm home insurance cost

As of June 2024, the national average cost of home insurance is $2,230 per year for $300K in dwelling coverage. State Farm customers pay an average of $1,854 per year for the same coverage. State Farm may be one of the cheapest home insurance companies for many homeowners, but others may be quoted a higher price based on location, home value, coverage selections and other rating factors.

$150K dwelling
State Farm average premium
$1,212
National average premium
$1,354
$300K dwelling
State Farm average premium
$1,854
National average premium
$2,230
$350K dwelling
State Farm average premium
$2,048
National average premium
$2,490
$450K dwelling
State Farm average premium
$2,474
National average premium
$3,020
$750K dwelling
State Farm average premium
$3,642
National average premium
$4,451

Compare State Farm homeowners insurance rates

Comparing home insurance rates is an important step in the shopping process. Every insurance company uses slightly different processes to calculate rates, so the cheapest insurer will be different for every homeowner — and you may also want to weigh the benefits of affordable insurance against the benefits of working with an insurer with high satisfaction ratings.

Company Avg. annual premium Difference compared to national average
$1,854
- $376
$1,959
- $271
$1,452
- $778
$2,325
+ $95
$1,681
- $549
$3,521
+ $1,291
$1,594
- $636
Progressive
$2,369
+ $139
$1,827
- $403
$1,544
- $686
$3,521
+ $1,291
$1,594
- $636
Progressive
$2,369
+ $139
$1,827
- $403
$1,544
- $686

State Farm customer satisfaction

Third-party ratings from J.D. Power and customer complaint data from the NAIC provide a general picture of State Farm’s success at meeting customer needs. We took a close look at J.D. Power’s 2023 U.S. Home Insurance Study, which measures customer satisfaction for U.S. property insurers, and the 2024 U.S. Property Claims Satisfaction Study, which focuses on the claims experience for customers who filed home insurance claims with each insurer. We also look at the NAIC Complaint Index to see whether an insurer has a higher or lower rate of complaints than the industry baseline.

State Farm homeowners claims satisfaction

State Farm scored above average for both overall customer satisfaction and claims satisfaction in J.D. Power’s latest property insurance studies. In the 2024 property claims study, State Farm scored 873 out of 1,000 — seven points lower than its 2023 score, but still comfortably higher than the study average of 869.

J.D. Power Property Claims Satisfaction Study

State Farm home insurance customer complaints

State Farm General Insurance Company received a high number of customer complaints in 2023 with a complaint index score of 1.76, nearly twice the industry baseline. This follows a trend of high complaints for State Farm in the past few years.

State Farm home insurance discounts

State Farm’s home insurance discounts lineup is fairly simple, with only four distinct discounts listed online. Eligibility may vary, so take the time to check with a State Farm agent about which discounts are available to you.

  • Bundling discounts: Customers who purchase both home and auto insurance from State Farm are eligible for bundling discounts, with an average annual savings of $1,273 based on 2023 survey data.
  • Roofing discounts: Using impact resistant roofing products like class 4 shingles could earn you a discounted rate. If you’re getting ready to install a new roof, talk to your State Farm agent.
  • Protective device discounts: A fire alarm, smoke detector or security system could make your State Farm home insurance policy eligible for a discount.
  • Wind mitigation discounts: If your home is constructed to certain standards — such as those set by the Institute for Business and Home Safety’s FORTIFIED program — you might be eligible for discounts from State Farm.

Get personalized home insurance quotes

Answering a few quick questions to check your availability with State Farm

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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State Farm life insurance review

State Farm’s life insurance offerings earned two 2024 Bankrate Awards: Best Term Life Insurer and Best Universal Life Insurer. The carrier also outranked all other companies for overall customer service in the 2023 J.D. Power U.S Individual Life Insurance Study and made Bankrate’s list of the best cheap life insurance companies for 2024.

Strong digital tools, a nationwide network of local insurance agents and A++ (Superior) financial strength ratings from AM Best make State Farm an attractive option for individuals seeking a strong life insurance policy. In addition to term life and universal life insurance policies, State Farm offers whole life insurance. If you’re not sure which type of life insurance is right for you, State Farm’s online calculator can help you pick a policy — or you can work with your local State Farm agent.

BANKRATE AWARD WINNER FOR BEST TERM LIFE INSURANCE COMPANY

After analyzing life insurance offerings from dozens of insurance companies, Bankrate's 2024 award for Best Term Life Insurance Company goes to State Farm. State Farm is one of the largest insurers in the U.S., and its term insurance stands out for its affordability and coverage options. State Farm's term life insurance is available in 10-, 20- and 30-year terms. These policies are renewable until age 95, and premiums may be returned in the event that the policyholder outlives the term. State Farm's Instant Answer Term Insurance does not require a medical exam and may be a good option for customers looking for a baseline level of life insurance at an affordable price.

See why State Farm won
Awards

BANKRATE AWARD WINNER FOR BEST UNIVERSAL LIFE INSURANCE COMPANY

State Farm’s high J.D. Power customer satisfaction score and superior financial strength rating from AM Best helped it pick up a second Bankrate Award for Best Universal Life Insurance Company. Universal life insurance policies allow policyholders to alter their benefits and premiums over time to meet their changing financial needs. With State Farm’s robust digital tools and large agent network, policyholders can find the support they need no matter how they prefer to manage their policy. State Farm’s universal life insurance policy is highly customizable, offering two death benefit options and multiple policy riders.

See why State Farm won
Awards

Pros and cons of State Farm life insurance

This list of pros and cons may help streamline your comparison of life insurance quotes:

Green circle with a checkmark inside

Pros

  • High customer satisfaction score
  • Life insurance claims can be filed over the phone and online
  • Instant Answer term life does not require a medical exam
Red circle with an X inside

Cons

  • Quotes for whole life policies are not available online
  • Variable universal life insurance no longer offered
  • Not available in MA

State Farm life insurance riders

Both term life insurance and permanent life insurance policies at State Farm can be tailored to your needs with a variety of endorsements. You may add endorsements to your policy, but keep in mind that each one you add will likely increase the cost of life insurance.

  • Waiver of premium benefit rider: This rider ensures that if you become disabled for six continuous months or more, you won’t be required to pay your premium for the duration of your disability.
  • Children’s life insurance benefit rider: This option adds temporary coverage to eligible life insurance policies and may pay out a small death benefit if your child were to pass away up to the age of 25.
  • Guaranteed insurability option: Pairing the guaranteed insurability option with State Farm’s waiver of premium for disability rider may allow you to prepare in advance for when you need additional coverage without the need for a medical exam.

Compare life insurance providers quickly and easily

See which provider is right for you.

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Compare State Farm with other insurers

Our State Farm insurance review covers the strengths and weaknesses of State Farm’s auto, home and life insurance offerings — but how does State Farm compare to the competition? Here’s a quick look at how State Farm stacks up against two major competitors:

Badge 1 Featured

State Farm

State Farm
Rating: 4.3 stars out of 5
4.3
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Cost & ratings

Rating: 4.4 stars out of 5
4.4

Coverage

Rating: 3.9 stars out of 5
3.9

Support

Rating: 4.4 stars out of 5
4.4

Allstate

Allstate
Rating: 4.1 stars out of 5
4.1
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Cost & ratings

Rating: 3.8 stars out of 5
3.8

Coverage

Rating: 4.5 stars out of 5
4.5

Support

Rating: 4 stars out of 5
4.0

Travelers

Travelers
Rating: 4.2 stars out of 5
4.2
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Cost & ratings

Rating: 4.1 stars out of 5
4.1

Coverage

Rating: 4.2 stars out of 5
4.2

Support

Rating: 4.4 stars out of 5
4.4
OVERVIEW
Info
Like State Farm, Allstate has an extensive network of local agencies that may help you manage your policies in person. If you prefer digital tools, the company offers an online policy portal and a mobile app. You may also be interested in Allstate’s DriveWise telematics program, which may help you save on your car insurance premium. However, Allstate does have a higher NAIC complaint index for both auto and home insurance.
Travelers may be a good option for environmentally-conscious shoppers due to its unique discount opportunities for those who drive an electric or hybrid vehicle or own a home that is LEED certified. However, it may be important to note that Travelers does not offer life insurance and scored below average in J.D. Power's auto and property claims satisfaction studies.
STANDOUT FEATURES
Info
Online Reviews
Robust digital tools
Lightbulb
Multiple telematics products
Loan
Teen safe driving program
Loan
Customizable coverage
Online Search
Online quotes available
Dollar Coin
Green car and home discounts
AVG FULL COV. AUTO RATE
Info
$2,892 $1,895
J.D. POWER AUTO SCORE
Info
889/1000 854/1000
AVG HOME RATE
Info
$1,959 $2,325
J.D. POWER HOME SCORE
Info
809/1000 790/1000
AM BEST RATING
Info
A+(Superior) A++(Superior)
Bankrate logo

Why you can trust Bankrate

Read our full methodology

Our insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth State Farm insurance review.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

Is State Farm a good insurance company?

State Farm comes by its vast market share honestly: for auto, home and life insurance, State Farm is a good option for many customers. Generally affordable rates and strong financial strength ratings put State Farm ahead of the competition in many areas. State Farm’s biggest strength might be its high customer satisfaction scores, as evidenced in J.D. Power studies and low customer complaints for auto and life insurance. However, a rising rate of complaints from State Farm’s home insurance customers could be a red flag for some customers.

What are real-life customers saying about State Farm?

To get a closer look at how actual customers rate their State Farm experience, Bankrate’s insurance editorial team pored over forum postings to hear from real policyholders sharing insights with other consumers. We found a wide range of responses, from frustrated ex-State Farm customers sharing about negative claims experiences to loyal customers reporting low rates and excellent service over decades.

Reddit

Perspectives on State Farm across Reddit’s personal finance forums. While plenty of customers related negative experiences and frustration with State Farm’s handling of claims, many others highlighted low rates and great local agents as reasons they’ve stayed with State Farm.

Reddit User 1*
Dec 29, 2023
State Farm customer service
"My experience is that while more expensive, the service you get from them when you have to make a claim is more than worth it. I’ve been involved in many claims with State Farm in my life and it’s really been like working with a friend that cares for you helping you through a difficult time. But when I have to make a claim, I always start with my agent’s office. Local will give you directions on how to file things correctly to make it painless."
Reddit User 2*
May 10, 2024
State Farm claims
"If you ever need to file a claim with State Farm you will be in for a battle. They are horrible. Not responding to calls or emails for months, 5 different adjusters who don’t know what they are talking about. Don’t do it !"

Bogleheads.org

Investing forum Bogleheads.org had more broadly positive views of State Farm. Most of the users who provided insights reported being long-time customers, and named low prices and discounts as some of the reasons they’ve stayed with State Farm rather than switching to another insurer.

Bogleheads User 1*
Jun 30, 2023
No accident forgiveness
"We are long time State Farm customers. 5 years ago, I shopped our 3 policies: auto, home and umbrella. State Farm was the clear winner. I had a minor accident 3+ years ago, and for the first time in 55 years of driving, I was at fault. Auto insurance increased about $1,000 a year for 3 years. Also, about a year earlier, a deer ran into the side of my car resulting in $2,000 of damage to replace fender, etc. I am not sure if that counted against me or not. Anyway, accident forgiveness could be a real benefit, especially in congested streets like we have around here."
Bogleheads User 2*
Jun 30, 2023
Cheapest package
"I am another long time State Farm customer. With the age of accounts and multiple policy discounts, it's hard to beat their prices. When shopping around, sometimes other companies come close to matching their prices but I have not found a cheaper total package. Of course, this could be the case for almost any company with a long term relationship but I have had no reason to leave State Farm."
State Farm has been my insurance company for many years; the home and auto claims I've made have gone smoothly. Even when I moved to a new state, my agent seamlessly transferred my policies to a local agent. My agent always works hard to ensure I'm getting the most out of my policy and eligible discounts. — Natasha Cornelius, Insurance Editor and State Farm customer since 2012

State Farm company details

To get in contact with State Farm, current policyholders can reach out to their State Farm agent or use the mobile app to initiate a claim, contact service or summon roadside assistance. You can also use the phone numbers below to reach State Farm’s service lines:

  • Customer service: 1-800-782-8332
  • Claims: 1-800-732-5246
  • Emergency road service: 1-877-627-5757
  • State Farm agency locator available at: statefarm.com/agent/

State availability

  • Car and life insurance: All states except MA and RI
  • Home insurance: All states except CA, MA and RI

State Farm tools and benefits

In addition to its auto, home and life insurance offerings, State Farm provides other insurance and banking products that might be advantageous for some customers.

  • Landlord and renters insurance: If you own a property that you rent out to tenants, you might be interested in State Farm's renters and rental property insurance. For property owners, State Farm’s  landlord insurance offering includes standard dwelling coverage as well as coverage for loss of rent due to a covered peril. For renters, State Farm also writes some of the best rental insurance policies.
  • Umbrella insurance: Umbrella insurance may help protect your finances by paying additional liability coverage for home and auto policies in the event of a major liability claim or lawsuit.
  • Identity theft protection: For around $25 per year, you may add identity theft protection to your home, condo or renters insurance policy. Policies are available in all states except for North Carolina.
  • Boat insurance: State Farm’s standard boat insurance policy includes liability coverage in addition to protection from sinking, storms, theft and other perils.
  • Condominium insurance: You can purchase condo, or HO-6, insurance from State Farm if you cannot get insurance through your condo association.
  • Personal banking: State Farm offers a suite of personal banking and investment products through its partnership with US Bank, like credit cards, checking accounts and consumer loans.

Frequently asked questions about State Farm

Methodology

Bankrate utilizes Quadrant Information Services to analyze June 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region.

Auto

Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $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 coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16-20 added to their parents' policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket, single at-fault accident and single DUI conviction.

Credit-based insurance scores: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Four states prohibit or limit the use of credit as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

Homeowners

Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Auto Bankrate Score

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Home Bankrate Score

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • Support 20%
  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Written by
R.E. Hawley
Senior Writer, Insurance
R.E. Hawley is a senior writer for Bankrate. Prior to joining Bankrate’s insurance editorial team in 2024, they worked as senior writer for a popular car ownership and insurance comparison app, leading a team of over a dozen writers in creating customer-focused financial advice content on topics ranging from insurance to vehicle reliability and auto loan refinance. R.E. holds a personal lines insurance license in the state of New York.
Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute