21 October 2020

State Farm Auto Insurance Review

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How is State Farm rated?

Breakdown

4.5/5

Financial Strength

4.5/5

Pricing & Discounts

4.5/5

Claims Satisfaction & Customer Experience

4.5/5

Automation

Overall Rating: 4.3 / 5 (Excellent)

As the biggest player in the auto insurance industry, State Farm offers a broad range of coverage options and an excellent variety of discounts, primarily for safe drivers and returning customers.
Although they have yet to expand their coverages to insure pets, their plans offer all the basic and comprehensive protection a cautious motorist could require.
Clients who have worked with State Farm attest to the company’s commitment to customer satisfaction, specifically in reference to their 24-hour customer support.
Backed by the company’s long-term financial strength and reliability, as well as outstanding customer service standards, State Farm policies continue to be the best in the business.

State Farm Coverage

Coverage & Benefits – 4.5 / 5

State Farm offers both basic and comprehensive coverages, as well as liability insurance, collision coverage, car rental and travel expenses, uninsured/underinsured motor vehicle coverage, medical payments, emergency road service, and rideshare driver coverage.
Although their offer is not as extensive as that of similar competitors, it does provide protection against the most common types of accidents and other mishaps.

Customer Experience

*The NAIC Car Insurance complaint ratio (in this case 2.58) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all Car Insurance companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Claims Satisfaction & Customer Experience – 4.5 / 5

State Farm holds a Trustpilot score of 7.5 (Great) based on 67% positive customer reviews, with clients praising their quick, professional service.
As would be expected with a company of its size, State Farm’s NAIC complaint ratio score for private passenger auto insurance for 2016 is higher than the national median, with over 9,000 total complaints for the year.
Despite this elevated complaint ratio, State Farm remains the most successful and trusted auto insurer in the United States, with 30 operation centers and over 300 claim offices across the country.

Financial Strength

Key Details

State Farm Mutual Automobile Insurance Company

$39,194,660,434

18.3%

A++

A2

AA

Financial Strength – 4.5 / 5

State Farm services over 83 million policyholders across the nation, making them the largest auto insurance company by market share in the private and commercial auto insurance industry.
The firm holds A ratings from such investor and financial services companies as A.M. Best, Moody’s, and Standard & Poors, retaining stable long and short-term issuer credit ratings with each.

*The above information reflects the financial strength of the underwriter of the State Farm car insurance policies: State Farm Mutual Automobile Insurance Company.

Pricing & Discounts

Pricing & Discounts – 4.5 / 5

State Farm offers discounts for safe drivers, students, and clients insuring multiple vehicles or bundling their policies with other plans such as homeowners, renters, condo or life insurance.
They also emphasize the importance of driver education by extending additional discounts for those who complete a defensive driving course or driver training for motorists under the age of 21.
Overall, State Farm offers a good selection of discounts and affordable rates ranging from $90 to $190, which makes them one of the most competitive options in the market.

Contact & Additional Information

https://www.statefarm.com/

(800) 782-8332

One State Farm Plaza, Bloomington, IL, 61710

1922

What We’re Hearing From Our Readers

Jim Trumm

Editor

Customers who comment about State Farm are generally happy with their agents and praise them for their individual attention and responsiveness. Critical comments focus on the way the company handles claims, occasionally loses paperwork, and is slow to respond.

    Customer Comments

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    Progressive Car Insurance

    36 Reviews

    • Trusted by Over 18,000,000 drivers
    • Competitive rates, tons of discounts (safe driver, pay-in-full, multi-car, multi-policy, quoting online & more)
    • Name your price Tool®
    • Bundle auto & property to save 5%
    • Snapshot® is a program that personalizes your rate based on how YOU drive.
    • Loan/lease payoff coverage, roadside assistance & strong financial ratings

    READ FULL REVIEW >

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