Ratings

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Overall Rating info icon info icon
Claims Processing
Customer Service
Value for Price
Website and Apps
% Who Would Recommend to a Friend
80%
% Who Plan to Renew
97%
AM Best Financial Strength Ratings info-icon info-icon November 08, 2020
A++
HOW WE WEIGH OUR SCORE
WHAT IS THIS RATING?

A.M. Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.

A.M. Best's rating is NOT used to calculate the overall score but it is important information to consider when choosing an insurance company.

Reasons for Buying

Customers of State Farm originally decided to purchase from the company for these reasons:
23%
Offered best price
22%
I had other insurance with this company
22%
Recommended by friend or family member
17%
Reputation
7%
Was the company my parents had
5%
Saw TV commercial
3%
Financial strength rating
1%
Saw online ad
0%
The company website and mobile apps are easy to use and helpful

How likely to recommend?

I would definitely recommend this company
I would probably recommend this company
Neutral
I would probably not recommend this company
I would not recommend this company

Would you renew?

97% Yes
3% No

Ratings on Website & Apps

Completely satisfied / Outstanding website & apps that give me what I need and more
42%
Fairly satisfied / Fulfills my needs OK
40%
Average website and apps
12%
Unsatisfied / website and/or apps are not fulfilling my needs
2%
Very unsatisfied / digital offering is severely lacking
1%

How do you prefer to deal with insurer and policy?

Phone
46%
Interactive website
20%
In person
16%
Email
13%
Mobile App
5%
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Customer Complaint Ratio

info icon
Homeowners
0.87
0 1 3 10+
Lower number is better
0 to 1.00
1.01 to 3.00
3.01 and above

About State Farm

Homeowners polices offered

  • Home structure
  • Condo 
  • Renters
  • Associations & Organizations
  • Manufactured Homes
  • Small Business Property
  • Farm & Ranch
  • Personal Articles Policy
  • Flood Insurance

Additional policies offered

  • Car
  • Motorcycle
  • Sport and leisure vehicles
  • Long-term care insurance
  • Liability
  • Identity theft insurance

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

From humble farm beginnings

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

Types of special coverage

Identity theft resolution. Coverage helps you if your identity is stolen.

Personal Articles Policy coverage goes beyond your homeowners or renters policy to replace your valuable items. Includes inflation adjustment, wedding present coverage, among other features.

Discounts

Multi-policy. Discount for more than one type of policy with the same insurance provider.

Alarm systems and safety devices. Discount for having security and fire-suppression systems.

Roofing. Discount if you use certain roofing materials.

In which states is State Farm home insurance available?

AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

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