22 October 2020

State Farm Insurance Corporate Office

How would you rate your experience with State Farm Insurance ?

[Total: 52   Average: 2/5]

State Farm Insurance Corporate Office Address

State Farm Insurance

1 State Farm Plaza
Bloomington, Illinois 61710

Contact State Farm Insurance

Phone Number: (309) 766-2311
Fax Number: (309) 766-3621
Website:http://www.statefarm.com
Email:Email State Farm Insurance

State Farm Insurance Facts

Founder: George Mecherle
Date Founded: 1922
Founding Location: Bloomington, Illinois
Number of Employees: 56788

State Farm Insurance Executives

CEO: Michael Topsord
CFO: Gary Perland
COO: Kenneth J. Worzel

State Farm Insurance History

State Farm Insurance was founded by George Mecherle in 1922 as an automobile insurance company. It was started as a mutual company and so was owned by its policyholders.

The company originally provided auto insurance to farmers. The company expanded in the 1950s to other types of insurance, such as homeowners insurance and life insurance.

In 1964, State Farm became the largest insurance writer in the world.

In the 1990s State Farm Catastrophe Services was founded.

In 1999 State Farm Bank (SFB) opened. It is run by State Farm Financial Services. SFB offers many banking services such as checking, savings, and mortgages, but does not have branches Instead, it offers these services over the phone or via internet, as well as through agents in five states.

State Farm’s main business is State Farm Mutual Automobile Insurance Company.

State Farm continues to be a mutual company, owned by their policyholders. Edward B. Rust has been the CEO since 1985, but retired in 2015. 

Due to the COVID-19 pandemic and quarantine, many drivers virtually stopped driving or drove considerably fewer miles. This led State Farm and other insurance companies to issue partial refunds to consumers. 

State Farm has 18,700 agents working out of  343 claim offices throughout the United States and Canada, has 56,788 employees, and had $81.732 billion in revenue in 2018.

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