State Farm Home Insurance Review

#6 in Home Owners Insurance

State Farm Home Insurance

State Farm offers coverage for almost every type of home or living space available. It provides standard policies that are specifically tailored towards each living arrangement. State Farm insurance as its name implies also offers coverage for farms and ranches, whether your family lives on or off the property. However, State Farm home insurance only provides limited coverage for older homes. So be sure to check with your State Farm representative if your home qualifies for coverage.

 

Home Insurance Products Offered

Homeowners

Renters

Associations and Organizations

Small Business Property

Claims

Condo Unit Owners

Manufactured Homes

Personal Articles Policy

Flood Insurance

Farm and Ranch

Roofing

Home Index

 

Additional policies offered

Personal Insurance

Flood Insurance

Home Business Insurance

Identity Restoration Coverage

Farm and Ranch Insurance

 

*** State Farm home insurance doesn’t cover

  • Bodily injury or property damage that is expected or intended by the insured
  • Business pursuits
  • Professional services provided or not provided
  • Ownership, operation, use, or maintenance of aircraft, motor vehicles, and certain watercraft

 

Net premium written (A.M. Best)

$50,808,635

 

Better Business Bureaus (BBB Ratings)

  • Not BBB accredited

 

Discounts

 

Claim free policy Yes
Multiple policy purchase Up to 15%
Home security devices Up to 20%
Utilities ratings plans Up to 30%
Certain roofing materials Up to 15%
Fire sprinklers Up to 5%  

 

*** No discounts for newly built/ renovated homes

 

Coverage

 

Covers cost of rebuilding/ repairing due to a covered peril Yes
Personal liability coverage for personal/ property damage Yes
Covers living expenses outside of the home during rebuilding/ repairs Yes
Coverage for medical expense Yes
Is widely available across the country Yes
Personal property insurance for loss or damage for covered instance      Yes            

 

Financial Ratings

With excellent ratings from Moody’s and A.M. Best, State Farm home insurance is a solid bet for providing continued assistance to homeowners, organizations and farms. With over 18,000 State Farm agents and 80 million policies and accounts across the US and Canada, the company remains to be a leader in the home insurance industry.

 

Bottom Line

State Farm provides coverage for almost any type of living arrangement which is great for homeowners, renters and organizations who would like to secure their property. But one major drawback with the company is the lack of discounts which is basically offered by almost any home insurance company. This might be a huge letdown for homeowners shopping for bargains.   

 

 

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