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State Farm Auto Insurance Review


Rating: 9.3 / 10 (Excellent)
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Founded in 1922 and headquartered in Bloomington, Illinois, State Farm Mutual Automobile company is the largest commercial and private auto insurer by market share in the United States. Since its inception, the company has expanded to provide more than 100 products over five different business branches, including banking and financial services in the U.S. and Canada.

How is State Farm rated?

Breakdown

10/10
Coverage & Benefits
9/10
Pricing and Discounts
9/10
Financial Strength
9/10
Customer Experience

Overall Rating: 9.3 / 10 (Excellent)

As the biggest player in the auto insurance industry, State Farm offers a broad range of coverage options and an excellent variety of discounts, primarily for safe drivers and returning customers. Although they have yet to expand their coverages to insure pets, their plans offer all the basic and comprehensive protection a cautious motorist could require. Clients who have worked with State Farm attest to the company's commitment to customer satisfaction, specifically in reference to their 24-hour customer support. Backed by the company's long-term financial strength and reliability, as well as outstanding customer service standards, State Farm policies continue to be the best in the business.

State Farm Coverage

Basic Coverage

  • Bodily Injury Liability
  • Property Damage Liability
  • Collision
  • Comprehensive
  • Medical Payments
  • Uninsured/Underinsured Motorist

Additional Coverage

  • Rental Reimbursement
  • Towing & Labor Cost

Coverage & Benefits - 10 / 10

State Farm offers both basic and comprehensive coverages, as well as liability insurance, collision coverage, car rental and travel expenses, uninsured/underinsured motor vehicle coverage, medical payments, emergency road service, and rideshare driver coverage. Although their offer is not as extensive as that of similar competitors, it does provide protection against the most common types of accidents and other mishaps.

Customer Experience

Customer Ratings

Trust Pilot Rating
7.5 out of 10
Date Collected
2017-10-10

Customer Experience - 9 / 10

State Farm holds a Trustpilot score of 7.5 (Great) based on 67% positive customer reviews, with clients praising their quick, professional service. As would be expected with a company of its size, State Farm's NAICS complaint ratio score for private passenger auto insurance for 2016 is higher than the national median, with over 9,000 total complaints for the year. Despite this elevated complaint ratio, State Farm remains the most successful and trusted auto insurer in the United States, with 30 operation centers and over 300 claim offices across the country.

J.D. Power 2016 Auto Insurance Study

JD Power Overall Satisfaction Score
3 out of 5 (About Average)
First Notice of Loss
3 out of 5 (About Average)
Service Interaction
3 out of 5 (About Average)
Appraisal
3 out of 5 (About Average)
Repair Process
3 out of 5 (About Average)
Rental Car Experience
2 out of 5 (The Rest)
Settlement
3 out of 5 (About Average)

National Association of Insurance Commissioners

NAICS Complaint Ratio 2016
2.58
NAICS Total Complaints 2016
9,444
*The NAICS Car Insurance complaint ratio (in this case 2.58) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all Car Insurance companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Financial Strength

Key Details

Underwriter
State Farm Mutual Automobile Insurance Company
Premiums Written 2016
$39,194,660,434
Marketshare 2016
18.3%
AM Best Financial Rating
A++
Moody's Financial Rating
A2
Standard & Poor's Financial Rating
AA

Financial Strength - 9 / 10

State Farm services over 83 million policyholders across the nation, making them the largest auto insurance company by market share in the private and commercial auto insurance industry. The firm holds A ratings from such investor and financial services companies as A.M. Best, Moody's, and Standard & Poors, retaining stable long and short-term issuer credit ratings with each.
*The above information reflects the financial strength of the underwriter of the State Farm car insurance policies: State Farm Mutual Automobile Insurance Company.

Pricing & Discounts

Per Mile Pricing Available?

Discounts

  • Multiple Vehicle
  • Safe Driver
  • Anti-Theft
  • Vehicle Safety
  • Homeowner
  • Student
  • Bundled Policy

Pricing and Discounts - 9 / 10

State Farm offers discounts for safe drivers, students, and clients insuring multiple vehicles or bundling their policies with other plans such as homeowners, renters, condo or life insurance. They also emphasize the importance of driver education by extending additional discounts for those who complete a defensive driving course or driver training for motorists under the age of 21. Overall, State Farm offers a good selection of discounts and affordable rates ranging from $90 to $190, which makes them one of the most competitive options in the market.

Contact & Additional Information

Homepage URL
Company Phone
(800) 782-8332
Headquarters Address
One State Farm Plaza, Bloomington, IL, 61710
Year Founded
1922

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