State Farm offers affordable insurance options with personalized service and a strong claims process, though customer experience can vary by location including auto, home, renters, and life insurance.
State Farm Insurance: Summary Review
4.6
Is State Farm a good insurance company?
State Farm has earned its significant market share through reliable service: it offers competitive options for auto, home, and life insurance that appeal to many customers. With generally reasonable rates and robust financial strength ratings, State Farm often outperforms its competitors. One of its most notable advantages is its high customer satisfaction ratings, as shown in J.D. Power’s studies, along with a low volume of auto and life insurance complaints. Nevertheless, increasing complaints from home insurance customers may raise concerns for potential clients.
State Farm Auto Insurance
4.2/ Chequepay Rating
When evaluating State Farm’s auto insurance options, we give it an impressive 9.2 out of 10 and recognize it for providing the Best Customer Experience. State Farm consistently receives high marks in various J.D. Power studies and boasts competitive average rates. Our assessment considers a range of factors, including industry reputation, availability, coverage options, pricing, and overall customer satisfaction.
State Farm Auto Insurance: Pros and Cons
Pros
Cons
- Reasonably priced standard rates suitable for a variety of drivers.
- Strong reputation in consumer studies
- Affordable average rates for many types of drivers
- Service may vary by agency location
- It might be necessary to consult with an agent to gain a comprehensive understanding of the homeowners endorsement options offered by the company, as these details are not available on their website.
- Not available in all states
State Farm Car Insurance Cost
Based on information from Quadrant Information Services, responsible drivers typically spend around $2,544 annually, which breaks down to approximately $212 each month for comprehensive insurance coverage. This figure is only 5% lower than the national average of $2,681 per year for full coverage. In contrast, the average cost for minimum coverage through State Farm is about $861 per year, or $72 monthly, aligning closely with the national average of $869 annually.
How much is State Farm car insurance?
The precise cost of auto insurance with State Farm is significantly influenced by the specific rating factors associated with your personal driver profile. These factors encompass your age, driving history, and, in many states, your credit score. For example, if you have a DUI conviction, you will be ineligible for a new auto insurance policy from State Farm, and drivers with other infractions may face increased premiums.
Driver profile
State Farm full coverage premium
National full coverage premium
Good driver, poor credit
$9,444
$4,372
DUI conviction with good credit
$4,982
$4,586
At-fault accident with good credit
$3,522
$3,396
Speeding ticket with good credit
$3,181
$2,893
Good driver, good credit
$2,743
$2,388
State Farm car insurance quotes by age
Teen drivers often face the highest auto insurance premiums with State Farm, particularly when opting for an individual policy. The rates provided are calculated for drivers who maintain a clean driving history, and they represent the insurance costs for a married couple along with a teenage driver. It’s important to note that State Farm provides various discounts aimed at reducing costs for young drivers, such as the Steer Clear program.
Age
State Farm full coverage premium
National full coverage premium
Age 60
$2,489
$2,135
Age 40
$2,743
$2,388
Age 30
$2,838
$2,523
Age 25
$3,222
$2,929
Age 20
$5,167
$4,818
Age 18
$4,788
$4,376
Age 16
$5,548
$5,080
State Farm Car Insurance Discounts
State Farm provides a variety of discounts designed to assist numerous drivers in reducing their expenses.
- Multi-policy: Save on your auto insurance by bundling it with other coverages such as home or renters insurance.
- Multi-vehicle: Benefit from discounts by combining several cars into a single insurance policy.
- Good driving status: requires maintaining a record free of moving violations or at-fault accidents for a period of three years or more.
- Defensive driving course: Successfully finish an approved course to qualify for this discount.
- Good student: Students can receive a discount of up to 25% by achieving and maintaining a B average.
- Driver training: Young drivers aged under 21 are eligible for this discount by completing an accredited course.
State Farm home insurance review
5.0 / chequepay rating
State Farm holds a significant position in the U.S. homeowners insurance market, commanding nearly 18 percent of the Market share. This popularity can be attributed in part to its extensive availability, as policies are offered in every state except California, Massachusetts, and Rhode Island. Additionally, State Farm’s chequepay Score of 4.2 suggests that its success is not solely based on its size, but also the quality of its services.
State Farm distinguishes itself from other home insurance companies through its high customer satisfaction ratings and strong claims performance, as noted by J.D. Power. Beyond the typical homeowners insurance offerings, which include coverage for dwelling, personal property, liability, and additional living expenses, State Farm allows homeowners to tailor their policies to better meet their needs. The company’s personal articles coverage provides extra financial protection for valuable items such as jewelry, heirlooms, equipment, and medical devices that may not be adequately covered under standard home insurance. Additionally, policyholders can benefit from replacement cost coverage, an electrical fire prevention initiative in collaboration with Ting, and State Farm’s Premier Service Program, which assists eligible clients in locating trustworthy contractors after a covered loss.
State Farm Home Insurance: Pros and cons
Pros
Cons
- Achieved results that surpass the industry average in both claims handling and overall customer satisfaction, according to J.D. Power.
- Policyholders might be eligible to receive a complimentary fire hazard monitoring device.
- Roofing discounts available in certain states
- The range of discounts for homeowners insurance is not as extensive as that offered by certain other companies.
- It might be necessary to consult with an agent to gain a comprehensive understanding of the homeowners endorsement options offered by the company, as these details are not available on their website.
- This product is not offered in California, Massachusetts, and Rhode Island.
State Farm home insurance cost
As of October 2024, the average annual cost of home insurance across the nation stands at $2,285 for a dwelling coverage of $300,000. In comparison, State Farm customers enjoy a lower average premium of $1,955 for the same level of coverage. While State Farm is often regarded as one of the more affordable options for homeowners, it’s important to note that individual quotes can vary significantly. Factors such as geographic location, the value of the home, chosen coverage options, and other rating criteria can lead to higher premiums for some customers.
Dwelling coverage limit
State Farm average premium
National average premium
$750K dwelling
$3,746
$4,525
$450K dwelling
$2,577
$3,091
$350K dwelling
$2,152
$2,550
$300K dwelling
$1,955
$2,285
$150K dwelling
$1,295
$1,394
State Farm home insurance discounts
State Farm offers a straightforward selection of home insurance discounts, featuring just four specific options available on their website. Since eligibility can differ, it is advisable to consult with a State Farm agent to determine which discounts you may qualify for.
- Bundling discounts: Customers who buy both home and auto insurance from State Farm can take advantage of bundling discounts, which can lead to an average annual savings of $1,273, according to data from a 2023 survey.
- Roofing discounts: Opting for impact-resistant roofing materials, such as class 4 shingles, may qualify you for a reduced insurance premium. If you are planning to install a new roof, consult with your State Farm agent for more information.
- Protective device discounts: Installing a fire alarm, smoke detector, or security system may qualify your State Farm home insurance policy for a discount.
- Wind mitigation discounts: If your home meets specific criteria, like those established by the FORTIFIED program from the Institute for Business and Home Safety, you may qualify for discounts offered by State Farm.
State Farm life insurance
5.0 / chequepay rating
State Farm life insurance: Pros and cons
Pros
Cons
- Term, whole, and universal policies available
- Term policies can be converted to permanent policies
Some policies exclude applicants who are older than 65
- All policies must be purchased through a State Farm agent.