State Farm Home Insurance Ratings

Best Home Insurance Companies 2020: How State Farm Home Insurance Measures Up

The 2020 Best Insurance Companies consumer survey ranked State Farm 9th overall with a score of 84.76. State Farm’s highest showing was 6th place for customer service and 8th place for value for price. In the other individual rating factors State Farm claimed the 10th place spot for ease of use for website and apps and 13th for claims service.A majority of people surveyed said they would renew with State Farm, 94%, and 82% said they would recommend the company to others.

Gauging an insurance company

Before buying with a company it is wise to check on a company's financial strength and complaint record. The A.M. Best rating listed above gives you an idea of State Farm's financial strength to pay claims. A complaint ratio can be found on the National Association of Insurance Commissioners (NAIC) site. The median complaint ratio from the NAIC is always 1.00. This means half of the insurers have a complaint ratio of under 1.00 and half have a ratio above. Basically, numbers lower than 1.00 are better with fewer complaints than the median and a number higher than 1.00 has more complaints than the median. For home insurance, State Farm (NAIC# 25143) had a complaint ratio of 0.26

Company Background

State Farm Insurance has been around since 1922. Initially, it was auto insurance company for farmers. Later, it would branch out to the wider public and provide more offerings, like homeowners and life insurance. For decades now, the company has been almost an iconic part of Americana. People of a certain age, for instance, might remember the old jingle, penned by musician Barry Manilow, "Like a good neighbor, State Farm is there."

State Farm is the nation’s largest home insurance provider with 20 percent of the market share according to A.M. Best. The company covers virtually everything one can imagine, from car insurance to home, condo and renters insurance as well as life insurance disability insurance. They even offer some forms of health insurance. No wonder it oversees 80 million policies across North America.

State Farm homeowners programs

• Home Alert Protection Discount -- Have you installed fire, smoke, burglar alarms or some other type of home monitoring system? You may be eligible for a discount.
• Roofing discounts -- If you use certain impact-resistant roofing products, you may be eligible for a discount.

Consider State Farm for bundling and discounts

Like many of its competitors, you can bundle with State Farm (which boasts an average annual savings of $800). But this is also a company known for its discounts. There's the "Home Alert Protection Discount," which lowers your premium if you've installed safety features, like a burglar alarm. You may even get a discount for using certain impact-resistant roofing products.

But the discounts go far beyond the home. For instance, they also have a multitude of discounts for auto insurers. Just a handful of discounts for car drivers: you might get a discount if you have a "green" vehicle, for having a clean driving record, for taking a defensive driving course, for keeping your mileage down and, if you're a student, getting good grades. So, even if you're coming for home, you might stay for auto. 

Contact information

Corporate Headquarters

State Farm Insurance
One State Farm Plaza
Bloomington, IL 61710

Telephone: (800) 782-8332