Key takeaways
State Farm ranks #3 for affordability among major renters insurance carriers, with average rates of $11 monthly.
— QuoteYeti editorial team
- 02 Customer experience ranks #2 based on J.D. Power scores, NAIC complaint data, and online sentiment.
- 03 Coverage breadth scores #1 — see the coverage section below for which add-ons set State Farm apart.
State Farm ratings
How much does State Farm cost?
State Farm renters insurance costs renters $11 monthly on average, or $132 annually — -15% compared to the national average. Actual rates vary significantly based on your profile, location, and coverage selections. Use the cost-by-category table below to see how State Farm typically prices different renter profiles.
Avg monthly
$11
Avg annual
$132
vs. national avg
-15%
How State Farm compares
−15% below the national average for comparable coverage.
Rates by category
| Category | Minimum coverage | Full coverage | Rank |
|---|---|---|---|
| Low-risk renters | $9 | $11 | #3 |
| Average renters | $11 | $13 | #3 |
| Higher-risk renters | $15 | $18 | #4 |
State Farm earns #2 overall in our renters rankings — the kind of performance that rewards a closer look, not a coin flip.
State Farm reputation
State Farm ranks #2 in QuoteYeti's customer experience study for renters insurance. The score blends J.D. Power survey data, NAIC complaint ratios (0.62 versus an industry-wide 1.00 average), and member sentiment from public review sources. Customers consistently praise State Farm for responsive service and smooth claims experiences.
Step 01
Buying process
Buying coverage from State Farm is a strong experience for most renters. The quoting process can happen either online or through a local agent — agent involvement adds personalization.
Step 02
Policy management
Day-to-day policy management at State Farm is straightforward, with self-service through both the mobile app and web portal. Customers who prefer in-person service appreciate access to local agents.
Step 03
Claims experience
Claims handling at State Farm performs at or slightly above the industry standard. For straightforward claims (windshield repairs, minor incidents), most renters report fast resolution. Complex claims requiring extensive investigation can take longer.
Independent industry ratings
Independent ratings from major financial-strength and customer-satisfaction agencies:
| Source | Score | Overview |
|---|---|---|
| AM Best Financial Strength 1 A.M. Best Insurance-industry credit rating agency since 1899. A++ is the highest financial-strength grade. | A++ (Superior) | Superior ability to meet financial obligations — only the top tier of P&C companies earn this rating |
| S&P Global Financial Strength 2 S&P Global Standard & Poor's Global Ratings. Insurance financial-strength grades from AAA (strongest) to D. | AA | Very strong capacity to meet financial commitments |
| J.D. Power Claims Satisfaction 3 J.D. Power Consumer satisfaction surveys with 12,000+ policyholders annually. Scores run 0–1000; above 800 is considered excellent. | 812/1,000 | Above industry average |
| NAIC Complaint Ratio 4 NAIC National Association of Insurance Commissioners. Their complaint index is 1.0 = average; lower is better. | 0.62 | Substantially fewer complaints than expected for company size |
State Farm discounts
State Farm offers 3 discounts to help reduce your premium:
| Discount | Average savings | Eligibility |
|---|---|---|
| Multi-Policy Bundle | Up to 17% | Bundle renters with State Farm auto insurance |
| Home Alert Protection | Up to 10% | Monitored security and smoke detection systems |
| Loyalty | Variable | Long-term continuous coverage |
State Farm coverage options
State Farm offers a comprehensive coverage menu typical of major renters insurance carriers, with several add-ons that set it apart from competitors. The table below details the main add-ons available.
| Add-on coverage | What it covers | Key features |
|---|---|---|
| Personal Articles Policy | High-value items like jewelry, art, and collectibles | Replacement cost; can be scheduled separately |
| Identity Restoration | Costs to restore identity after fraud | Standard endorsement on many renters policies |
| Increased Liability Limits | Higher personal liability coverage | Useful for renters with significant assets |
Pros and cons
Ordered by impact. The top item in each column is the one we'd weight heaviest in a recommendation.
What's working
- Top pro Largest agent network in the US (19,000+ local agents)
- Up to 17% savings when bundled with State Farm auto
- Personal Property Replacement Cost option available
- Strong claims experience with personalized agent support
- Best-in-class financial strength rating
What's not
- Top con Base rates not the lowest in the renters market
- Online self-service less developed than digital-first competitors
- Coverage rules vary slightly by state
- Less innovation than insurtech rivals
Our verdict
The bottom line
State Farm earns an overall score of 4.42/5 in QuoteYeti's renters insurance provider rankings. The carrier ranks #2 nationally, with particular strength in affordability.
State Farm is best suited for renters who value strong customer service over the lowest price. Base rates not the lowest in the renters market is the most common drawback to weigh against the strengths.
As always, compare quotes from multiple insurers before committing. The right carrier depends on your specific profile — driving record, claims history, location, and coverage needs all shift the math.
Frequently asked questions
Is State Farm a good renters insurance company?
State Farm is a legitimate renters insurance carrier with a financial-strength rating of A++ (Superior). It ranks #2 overall and #3 in affordability in QuoteYeti's editorial comparison of major renters insurance providers.
How much does State Farm renters insurance cost?
State Farm averages $11 monthly ($132 annually) — -15% versus the national average. Your actual rate depends on your profile, location, and coverage choices. Use the cost-by-category table above to see how State Farm typically prices different renters.
What discounts does State Farm offer?
State Farm offers 3 primary discounts, including Multi-Policy Bundle, Home Alert Protection, Loyalty. See the full discount table above for eligibility and average savings.
Does State Farm have good claims handling?
State Farm's NAIC complaint ratio is 0.62 (1.00 is the industry average, so lower is better). This is at or near the industry average. J.D. Power claims scores rate 812/1,000.
Should I choose State Farm or a competitor?
State Farm is strongest for renters who prioritize customer service quality. Compare quotes from at least three carriers — State Farm's rates and offerings vary significantly based on your specific profile, and the carrier that fits best can differ for renters in different situations.
How we rated State Farm
QuoteYeti's renters insurance rankings are designed to surface where each carrier actually wins and loses. We don't accept payment for ranking placement, and our methodology is published in full so you can audit how we reach our conclusions.
60%
Cost
We compare quotes across multiple renters profiles, measuring how competitively each carrier prices its policies against local and national competitors. Data is normalized to comparable coverage levels.
30%
Customer satisfaction
We analyze customer feedback from J.D. Power member studies, NAIC complaint ratios, AM Best ratings, and public review sources to assess overall service quality and claims handling.
10%
Coverage breadth
We evaluate each carrier's coverage menu, scoring the variety of available endorsements, unique features, and gap-filling options.