state farm is a well-known and popular insurance company with a range of car insurance policies. According to S & P Global Market Intelligence analysis, the insurance company holds a 16 % partake of the market based on premiums written, making State Farm the nation ’ sulfur largest car indemnity ship’s company .
While the size of State Farm works as an advantage for policyholders who are looking for stability and security, its policy options, costs, and customer experience deviate. If you ’ rhenium considering State Farm car policy, hera ’ s what you need to know .
What Types of Car Insurance Can You Get From State Farm?
State Farm offers a range of car indemnity coverage options, including :
- Liability
- Collision
- Comprehensive
- Uninsured motorist
- Underinsured motorist
state farm does not offer GAP insurance, the coverage that makes up the remainder between your car ’ sulfur rate and your car loanword libra if your car gets totaled. This type of policy can help you avoid having to make payments on a fomite you no longer own .
alternatively, State Farm offers a similar program called Payoff Protector, but it ’ s alone available and mechanically included if you finance your vehicle through State Farm Bank .
What Add-On Insurance Options Does the Company Offer?
- Rideshare insurance provides additional liability protection if you’re a driver for Uber, Lyft, or another ridesharing company. This add-on coverage helps you if you cause an accident or someone gets injured on your property.
- Coverage for other vehicles. The company offers different types of coverage you can add on, like motorcycles, boats, off-road vehicles, and motorhomes.
- Roadside assistance offers towing and lockout support that you can request via the company’s mobile app.
- Rental car coverage so you can stay on the road even when your car is getting repaired after an accident.
- Medical payments. Regardless of fault, you can add this type of coverage for additional health and funeral benefits.
RELATED STORIES: How Do Add-ons Enhance Car Insurance?
What are the Benefits of State Farm Car Insurance?
Read on to learn about the advantages of State Farm car policy .
- Bundling. The company offers options to bundle insurance to get a better rate. Beyond vehicle insurance, State Farm provides homeowners insurance, life insurance, health insurance, business insurance, and other categories. Using one company for multiple policies is a great way to lower your car insurance costs.
- Stability. State Farm is also a large national company with significant financial resources. If insured by the company, it means you don’t have to worry about State Farm being unable to afford claims or not being able to support an accident in Florida if you live in Michigan.
- Ranks well for satisfaction. The company also ranks about average for customer complaints and customer satisfaction. According to the J.D. Power 2021 U.S. Auto Insurance Study, the most satisfied State Farm customers live in Florida, New York, and the Northwest.
How Much Does State Farm Car Insurance Cost?
According to The Zebra, the median State Farm indemnity policy costs $ 108 per month. however, you might get a different quote based on your senesce, sex, and the department of state where you live. other factors, including your drive record, will besides affect rates .
| Age Range | Monthly Rate |
| Teens | $286 |
| 20s | $142 |
| 30s | $106 |
| 40s | $104 |
| 50s | $99 |
| 60s | $96 |
source : The Zebra
State Farm offers several car policy discounts, including the Steer Clear Program for condom drivers under age 25. young drivers typically pay high gear indemnity rates, but the Steer Clear Program provides savings for younger drivers with no at-fault accidents or moving violations in the past three years .
What Else Impacts Car Insurance?
early factors can impact your car insurance quote from State Farm. Location, credit score, and force record. Let ’ s take a closer look .
Location
The state where you live will impact indemnity costs, along with where you park your car. Living in a big city with higher crime and accident rates means cable car indemnity costs go up, compared with smaller towns with gloomy crime and accident rates. Living in Tornado Alley or America ’ s Plains states can affect how insurers build your insurance quote, besides .
According to The Zebra, you ’ ll pay $ 64 per calendar month on average if you live in New Hampshire but pay $ 228 in Michigan.
Credit Score
Your credit score besides impacts your cable car policy pace. According to an analysis by The Zebra, drivers in general with very hapless credit scores pay 115 % more on average than those with especial credit rating .
There is some full news. By improving your accredit score by ampere little as one tier, you can lower your cable car indemnity costs by 17 % .
Insurers can not consider credit scores for drivers seeking insurance in California, Massachusetts, Hawaii, and Michigan .
DUI
According to The Zebra, State Farm is among the cheapest options for drivers after a DUI. The average monthly bounty after a DUI comes to $ 165 .
Accidents
state of matter grow is one of the best car insurance companies for drivers with at-fault accidents on their drive record. According to The Zebra, the average monthly premium is $ 135 after such an accident .
In general, it ’ s best for drivers to shop around for car policy quotes before determining which design works best .
How Satisfied Are State Farm Customers?
J.D. Power ’ second 2021 U.S. Auto Claims Satisfaction Study ranked State Farm at 892, above the industry average of 880. The study looked at 7,345 car indemnity customers settling claims .
In another sketch of fair under 40,000 car policy customers, the J.D. Power 2021 U.S. Auto Insurance Study said State Farm was among the acme insurers by region in several categories and fell below average in precisely one .
The annual study provides an in-depth attend at how car policy companies perform nationally. J.D. Power gathered customer feedback on the succeed five criteria : charge action and policy information, claims, interaction, policy offerings, and price .
According to the study, here ’ s how State Farm ranked :
Best in Category
- Florida
- New York
- Northwest
Above Average
- California
- Central
- New England
- Southeast
- Southwest
Slightly Above Average
- Mid-Atlantic
- North Central
Slightly Below Average
- Texas
State Farm Background
When you buy insurance, you want to know that the company can pay your claim within a fair timeframe. even as insurance companies are checking your credit rating to determine your insurability and premiums, consumers can besides use recognition ratings to assess their insurance company ’ s fiscal fitness .
- State Farm received an AA from S&P Global, which is a very good rating indicating a strong financial position. This is only slightly below the top rating of AAA.
- A.M. Best rates State Farm with an A++, the best rating possible indicating a superior ability to meet insurance obligations.
With headquarters in Bloomington, Illinois, State Farm started 100 years ago in 1922. The company insures more cars and homes than any other insurance company in the United States.
Read more: The 7 Best Car Insurance Companies (2022)
When considering policy options, keep in mind that State Farm agents are independent contractors without a base wage. Their recompense is wholly based on sales and perpetration. Understanding this income model can help you be cautious of unnecessary indemnity add-ons. besides, because agents aren ’ t employees, responsiveness and customer helpfulness can vary .
Keep in mind that State Farm insurance may need to be procured a little differently. A State Farm agent is only able to sell State Farm insurance. This means that if you switch your car indemnity to State Farm, you ’ ll besides be switching agents .