Since the start of the company in 1922, State Farm climbed to the top of the car insurance ladder. The big company is the number one auto insurance provider. They are responsible for insuring over 45 million cars in current times. Being active for almost 100 years, State Farm is a veteran in car insurance coverage.
State Farm is the go-to for all types of insurance coverage. They dedicate themselves to finding their customers’ appropriate coverage. They offer a wide range of protection for cars, including comprehensive coverage, collision coverage, rental coverage, and more.
Different Types of Coverage at State Farm
State Farm offers a wide range of car insurance coverage. They insure most types of accidents and the bills received from those accidents. Their broad range protects customers in nearly all cases.
Opting in to their emergency road service gives customers peace of mind from being stuck on the side of the road. Medical payment coverage insures personal medical bills and lost wages. They even offer rideshare insurance to protect drivers from liability.
Collision coverage at State Farm applies to many things but it also has its limitations. Firstly, they limit coverage so that it does not exceed the value of the vehicle. Customers cannot get more than what the vehicle is worth after filing a claim.
State Farm charges a deductible for collision coverage. They cover replacement vehicles, brand new cars, and unowned cars within the household. Of course, they also cover cars owned by their customers.
The insurance company’s collision coverage refers to single-driver accidents and accidents with another driver. Single-driver accidents include hitting a tree, receiving damage from a cart, or other similar accidents. Collision coverage would also cover the owner’s car if they hit someone else.
State Farm’s collision coverage does not cover non-driver related accidents or natural disasters. Their comprehensive coverage insures non-collision accidents. That would include theft, storms, floods, and more.
Comprehensive coverage at State Farm includes non-driver related accidents. The company also insures substitute cars, and unowned cars still within the household. They offer comprehensive coverage as the main type of insurance or an excess type of insurance.
Customers may or may not have to pay a deductible, depending on the circumstances of their comprehensive coverage. State Farm limits the amount of compensation in the event of an accident; it cannot exceed the value of the vehicle.
State Farm covers most incidents of non-driver related accidents. They recommend comprehensive coverage for disaster-prone areas, for high crime areas, and for expensive vehicles. They do not offer insurance for accidents with any drivers involved.
Liability coverage is required by law, so obviously State Farm offers it. They recommend that you purchase higher liability coverage. Unless you live in a no-fault state, medical bills, fees, tickets, and compensation add up.
State Farm offers bodily injury coverage and property damage coverage. Bodily injury covers medical bills, lost wages, and pain/suffering lawsuits. Property damage covers repairs to the damaged property. Customers can opt-in for both, which fully covers all costs of an at-fault accident. The insurance company also covers court fees and the cost of being sued.
State Farm’s liability insurance does not cover the customer’s own vehicle. The coverage also does not pay for personal injury to the customer. To get personal coverage, look into State Farm’s collision or medical payments coverage.
J.D. Power Reviews
Reviews on State Farm from J.D. Power sit at an overall average. Customer satisfaction hits three stars. This is to be expected, seeing as State Farm has over 45 million customers to manage. The same goes for their prices, representatives, and policy offerings. Customers consider these offers to be standard, not particularly good or bad.
A.M. Best Reviews
A.M. Best considers State Farm to be one of the best auto insurance companies. They rate based on balance, and State Farm is doing an excellent job. According to them, the insurance company strongly supports its customers, has the most financial stability, and exhibits the most diversity.
State Farm exhibits the most personal injury claims compared to any other insurance company. Still, A.M. Best argues that the insurance company produces incredible net income. Because of their income to claim ratio, A.M. Best says that State Farm is winning as an insurance company.
Clearsurance Customer Reviews
According to Clearsurance customer reviews, the majority of customers are satisfied with State Farm. About 83% of its customers would renew their policy, and 81% of its customers would recommend State Farm to a friend.
The insurance company’s car insurance rates beat the national average by a few hundred dollars. However, it seems that State Farm’s rates actually exceed the national average for married couples.
New customers seem to enjoy State Farm’s safe driver discounts. Policyholders with three years of clean driving get a hefty percentage off on their premium. They also offer a discount for safe vehicles and loyal customers, which is probably a reason for their boosted ratings.
State Farm’s customers also enjoy their easy-to-use website. The website allows them to file a claim online, make payments, and get support for roadside assistance. Customers also find the site to be informative and easy to navigate.
In Summary: The Pros & Cons
- A wide variety of coverage
- Leading auto insurance provider
- Most customers are satisfied with their experience
- Easily file a claim on their website
- Prices hardly beat the national average
- Married couples pay a higher premium
- Limited liability coverage