State Farm Insurance Review

State Farm has a 16% market share in the vehicle insurance industry. The insurance company’s coverage reaches across the United States. Anyone looking for personal touch with State Farm’s network of agents may simply do so. In addition to its reputation for providing outstanding coverage, this prominent insurance business has been given positive marks by third-party appraisers with regard to customer satisfaction and financial projections. Let’s take a look below of State Farm Insurance Review.

State Farm’s auto insurance options and discounts are comparable to other major providers, however customers who seek a great range of add-ons and extras may be disappointed.

State Farm Insurance Pros and Cons

State Farm Insurance Review - State Farm Insurance Logo

Pros

  • Availability of local agents dispersed nationwide
  • Cheap auto insurance for all age groups and drivers, regardless of ticket or violation records
  • Homeowners in your state can add coverage for floods and earthquakes via the National Flood Insurance Program and the California Earthquake Authority.
  • Customer satisfaction and financial prosperity with customers that are happy

Cons

  • Drivers without specialist coverages or endorsements
  • Homeowners insurance rates could be on the pricier side
  • Not the best variety of discounts for home insurance

State Farm car insurance ratings

  • Claims satisfaction (J.D. Power) — Above average. J.D. Power awarded State Farm above-average scores in its latest claims satisfaction survey.
  • Customer satisfaction (J.D. Power) — Above average. State Farm finished in the top half of J.D. Power’s satisfaction rankings in 2021.
  • Financial strength — Excellent. According to AM Best, State Farm has a better financial strength rating. This demonstrates its capacity to settle issues.
  • NAIC Rating — Above average. The NAIC saw a below-average complaint rate against State Farm when compared to the national average.

State Farm car insurance coverage options

State Farm should provide standard coverage for liability, collision, comprehensive uninsured/uninsured motorist and medical expenses. Some optional coverages can be added to a State Farm vehicle policy, as shown below.

State Farm emergency road service coverage

This is State Farm’s roadside assistance package and pays for reasonable expenses if your vehicle breaks down. It covers up to one hour of the mechanical labor (at the breakdown site), towing to the nearest repair location, lockout services, and delivery of gas, oil, battery or change of tire.

State Farm rideshare driver coverage

Your car’s insurance coverage will continue while you drive for firms like Uber and Lyft with this plan. Your State Farm coverage transfers to your personal plan, even if you’re driving for Uber or Lyft, with ridesharing protection. 

State Farm car rental and travel expenses coverage

When your automobile is being repaired following a collision or a comprehensive claim, State Farm rental car coverage pays for a rental car. In the event that you are stuck more than 50 miles from home due to an accident, travel expenditures will cover your accommodation, food, and transportation.

Local agents

Local agents provide a significant selling advantage for State Farm. Personalized insurance guidance and on-demand customer support are two advantages of doing business with State Farm. State Farm’s 24/7 contact center is an option if your local agent’s office is closed.

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State Farm auto insurance discounts

Even if many of the State Farm auto insurance discounts are basic, they may add up to significant savings.

Discounts based on the driver or vehicle

  • Multi-vehicle. In many cases, two or more vehicles might qualify for a multi-vehicle discount when covered by State Farm. State Farm promises savings of up to 20 percent, however the amount of the reduction might vary.
  • Accident-free. To get this discount, you must have had three consecutive years of having no car accidents while being a State Farm client. You’ll receive larger discounts the longer you stay with State Farm without filing a claim.
  • Good driving. Those with an excellent driving record for the last three years, having had no at-fault accidents or moving infractions, can qualify for reduced rates.
  • Defensive driving course. Earning a driving safety course discount might be possible. In certain states, this discount may not be accessible.
  • Driver training. To be eligible for this discount, anybody under the age of 21 who regularly drives your car must take an authorized driver education course.
  • Good student. If you maintain your grades high, you can earn a discount of up to 25 percent on your insurance.
  • Student away at school. Anyone who is under 25 years old who will not be driving the car much because they are away at school can obtain a discount as the premiums will be cheaper for this reason.
  • Vehicle safety. The option of insuring post-1994 automobiles might provide a reduced premium for medical-related coverage.
  • Passive restraint. People who own cars that came with factory-installed airbags or other passive restraint devices before 1993 can be reimbursed for part of their medical insurance.
  • Anti-theft. If your automobile has an alarm or other authorized anti-theft system, you will receive this discount.

Discounts based on your policy

  • Bundling/multi-policy. In addition to saving money on car insurance by bundling it with other types of coverage, State Farm estimates that bundling with house, condo, or renters insurance results in a 17 percent reduction in total insurance costs.

State Farm bundling options

If you require many policies, it is a good idea to bundle them together to save money.
When it comes to insurance, there are numerous choices from which to select. Auto and house insurance are, however, the most common, and the preferred choice.

How to cancel a State Farm insurance policy

You can opt out of your insurance whenever you choose. You might be liable for a cancellation charge or a return of some of your unused payment, depending on your state’s insurance rules. In the event that State Farm customers choose to end their insurance, there are three different methods to go about it.

  • By phone. Be sure to have your State Farm policy number at hand when you call to cancel your State Farm insurance.
  • By mail. You may want to enter any other details that may be relevant, such as your State Farm policy number, date and time of policy expiration, and your home location and phone number. Prior to your specified cancellation date, leave two weeks for delivery and processing by signing, dating, and mailing the letter.
  • In-person. State Farm agents can also terminate policies by speaking with customers. The basic information you need to submit is your name, address, policy number, and when you want your coverage to terminate.

Can I cancel my State Farm policy online?

At this moment, State Farm customers are unable to cancel their policies online. If you need to cancel your insurance policy, you must call, write, or see an agent in person.

State Farm online features and app

The State Farm website makes it easy for anyone to receive quotations, regardless of whether they need assistance from local agents.
The site also offers:

  • File and manage claims
  • Bill payment, policy documentation access, and proof of insurance cards. All of these features are accessible with account management.
  • Locating agents in the area

The State Farm mobile app (for Apple and Android) provides many of the same features, but it also lets you interact with an agent and receive roadside help.

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