State Farm Insurance is one of the 25 largest firms in the Fortune 500. It was originally created as a mutual auto insurance company, owned by the policyholders, back in 1922. The company was first headquartered in the state of Illinois. Today the main headquarters is located in Bloomington, Illinois. Today State Farm is the lead company of an eight member group of property and casualty insurance companies. Together they make up the largest provider of homeowner’s insurance and auto insurance. The company also offers insurance for renter’s and condominiums.
State Farm Insurance is available in AL, AK, AZ, AR, CA, CO, CT, DE, DC, 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, AND WY.
State Farm remains one of the largest auto insurers in America. Best Insurance Reports gives the company a rating of A++. In the insurance business this is considered superior. Standar & Poors rating is AA followed by Moody’s rating at Aa1 and Fitch at AA+. Customers have also rated the company. Overall 23 per cent of the insured are extremely satisfied followed by 16 per cent who are very satisfied. Thirteen per cent of the insured are somewhat satisfied and another 13 per cent are unsatisfied. There are 35 per cent of the customers who are very unsatisfied with the company. In another survey 86 per cent of the customers said they would recommend State Farm while 14 per cent said they would not recommend the company.
Some of the customers reviews have been mixed. One customer reported that he was told he would get better rates with State Farm. He was particularly concerned because he had a son who was soon turning 16 and was a beginning driver. He said he was given good rates and he was satisfied. Another customer, from Chicago, Illinois, reported that she has been with the company since she was old enough to drive. She said she has had renters insurance, homeowners insurance, and automotive insurance through State Farm. The woman reported that she has been in two automobile accidents – one was her fault. She was happy because of the relationship she had had with the company she was offered accident forgiveness and her rates remained the same as did her coverage.
Another woman in Birmingham, Alabama reported that there was a fire at her home while she was away. Her husband died in the fire. There were two little girls in the home. The firemen successfully removed the girls from the home. The woman complained that State Farm failed to rebuild her home, pay for a temporary home to move to, or to pay for the personal property as stated in her policy. She complained about her State Farm contact. She complained that the insurance company never repaired her home and, eventually, the roof fell in due to the fire damage. The lady said that her home had still not been repaired several years after the fire. However, the statement was not clarified by State Farm and only the woman’s version of the story is available.
State Farm Insurance has been successfully operating in the United States for close to 90 years – this is part proof that is has been a successful company.