A century of experience and financial strength allows State Farm to offer great homeowners insurance at affordable rates. Find out if it’s right for you. Show
In this article: Pros and Cons | At a Glance | Policy Coverage | Cost | Discounts | Customer Reviews | Conclusion | FAQs | Methodology With a century of experience and an “Excellent” financial strength rating from AM Best, State Farm can reliably pay out claims. While it started as a car insurance company in 1922, State Farm now offers many insurance products, including property, life, disability, pet and personal liability insurance. We at the Home Media reviews team have analyzed and scored State Farm’s homeowners insurance offerings based on coverages, add-ons, customer satisfaction, availability and more. Keep reading to see how it compares to our list of best homeowners insurance companies. Pros and Cons of State Farm Home InsuranceState Farm stands out for its financial strength, personal feel and online resources for new homeowners. It’s easy to get an online quote in 15 minutes and to customize coverage options with local agents. State Farm also features a robust library of online resources to help policyholders understand their needs. Several features stood out to our team as notable pros and cons of State Farm home insurance: + Fewer than average complaints to state insurance departments + Nationwide availability + Online library of educational resources – Discounts limited in some states – Online quotes unavailable in some states State Farm Homeowners Insurance at a GlanceState Farm Policy CoverageStandard coverage from State Farm includes the following protections:
Additional CoverageWith State Farm, additional home insurance coverage options depend on where you live. Plus, some add-ons may be bundled into your standard policy for no additional fee. State Farm offered the following options when we inquired about coverage and requested an insurance quote.
Further endorsements may be available through your local agent. For our sample home in Charlotte, we could choose these options:
State Farm CostAmericans pay a national average of $1,272 per year for homeowners insurance, according to the most recent insurance rates in a 2022 report published by the Insurance Information Institute (III). That said, every home and homeowner is different, leading to varying insurance coverages and premiums across the country and even among neighbors. We obtained a quote for a home in Charlotte, North Carolina, for a single 30-year-old man with a clean insurance claim history. Our sample policy costs $1,306 per year, which is $203 more than North Carolina’s average home insurance rates as reported by the III. Here are some of the most significant factors that affect your State Farm insurance cost:
With so many risk factors impacting the cost of your home insurance policy, it’s essential to get a customized quote from State Farm. In most states, you can do this online. Contact your local insurance agent for more information if online quotes are unavailable where you live. State Farm DiscountsState Farm offers a relatively standard set of homeowners insurance discounts, such as bundling policies, remaining claims-free and installing home security systems. While the options are great ways to save money on your premiums, it was disappointing not to see any novel offerings. Plus, discount availability, savings and eligibility vary by state. Depending on your location, you could be eligible for the following:
After analyzing more than 100 State Farm homeowners insurance customer reviews, our team understood how the company holds up in the eyes of policyholders. We noticed several common threads across the positive and negative sentiments customers had. Multiple reviewers praised State Farm for its personable and dependable agents and its quality customer service. Others pointed to difficulties getting State Farm to approve a roof replacement or repairs. State Farm didn’t respond when we reached out for comment. Here’s what policyholders had to say about their experience with State Farm in reviews filed with the Better Business Bureau (BBB).
The Bottom Line: State FarmIf you’re shopping for homeowners insurance for the first time, State Farm is a great option. Its straightforward quote process takes just 15 minutes to complete, provides helpful explainers on coverage types along the way, and allows users to save quotes for later access. In addition, the provider’s strong financial backing and positive consumer sentiment make it a top choice, even if you’re a seasoned homeowner. However, we recommend comparing multiple quotes before purchasing a homeowners insurance policy. Lemonade, Allstate and Liberty Mutual are also worth looking into as top options based on our reviews. Frequently Asked Questions About State FarmMethodology: Our System for Ranking the Best Home Insurance CompaniesOur team surveyed dozens of home insurance providers and created a scoring system to judge each company’s quality and service. We reach out for sample quotes, both over the phone and on the internet, to simulate an authentic customer experience. Here are the factors that account for our provider reviews:
Companies with the best customer service exhibit 24/7 availability, educational resources on their website, useful digital tools and a seamless claims-filing process. Providers that offer extensive discount options, endorsements, customizable coverage options and unique features score significantly higher than those that don’t, putting them toward the top of our recommendations to readers. Ratings listed in this article are accurate as of October 2022. AM Best disclaimer What is normally not covered by homeowners insurance?Standard homeowners insurance policies typically do not include coverage for valuable jewelry, artwork, other collectibles, identity theft protection, or damage caused by an earthquake or a flood.
What two things are not usually covered by homeowners insurance?Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered. Damage caused by smog or smoke from industrial or agricultural operations is also not covered. If something is poorly made or has a hidden defect, this is generally excluded and won't be covered.
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