- There’s a comprehensive online quote tool.
- Prices are very competitive.
- Plenty of coverage options available.
- Coverage is available in all 50 states.
- There aren’t that many discounts available.
- There isn't a flood insurance rider.
State Farm, a well-known name in the insurance industry since 1922, offers nationwide availability of its insurance products. Over the years, they have become a trustworthy beacon of home, auto, life, and health protection for thousands.
Today, State Farm is by far the largest and one of the most popular home insurance providers in the country. With good financial performance and a strong market presence driven by 19,000-strong agents, this insurance giant insured over 18.4% of all insured homes in the US in 2021.
Stick around and find out just how much like a good neighbor State Farm truly is. We’ll sift through some online reviews to get a sense of how their customers feel. Plus, we’ll reveal their financial ratings for insurance safety.
What State Farm home insurance covers and how much it costs
To help determine the home’s worth, they wanted to get down to the details. Their online quote tool already picked up most of the home’s details based on the address we plugged in. It’s a tri-level home built in the 80s with an older roof and attached features. It’s worth about $140,000 on the market with 1,220 square feet to its name.
This address is a test home we’ve used several times in previous reviews. Go check out our other reviews to see precisely how State Farm adds up to the competition!
From there, they asked about the type of home we lived in based on its structure, interior, and exterior features and finishes. On a scale from Economy to Premium, we chose standard. You could enter all sorts of home information, from room details to light fixtures.
This is much like Allstate’s quote tool, only more comprehensive. State Farm’s replacement cost value tool, called 360Value, makes sure we can be as specific as possible to get the most out of our dwelling coverage.
Once it was all said and done, using the most basic information possible, we were offered 3 types of policies:
| Essential | Expanded | Premium | |
| Dwelling Coverage | $291,000 Actual Cash Value | $291,000 Replacement Cost | $291,000 Replacement Cost |
| Other Structures | $29,100 (10%) | $29,100 (10%) | $58,200 (20%) |
| Personal Property | $160,050 (55%) | $218,250 (75%) | $218,250 (75%) |
| Personal Liability | $100,000 per occurrence | $100,000 per occurrence | $1,000,000 per occurrence |
| Medical Payments | $1,000 | $1,000 | $5,000 |
| Increased Dwelling Limit | $58,200 (20%) | $58,200 (20%) | $58,200 (20%) |
| Policy Deductible | $5,820 (2%) | $2,910 (1%) | $1,455 (.5%) |
| Additional Coverage | Jewelry & Furs: $1,000 Silverware and Goldware: $2,500 Firearms: $2,500 Business Property: $1,500 Building Ordinance or Law: 10% Fire Department Service Charge: $500 | Jewelry & Furs: $2,500 Silverware and Goldware: $2,500 Firearms: $2,500 Business Property: $1,500 Building Ordinance or Law: 10% Fire Department Service Charge: $500 Back-Up of Sewer or Drain: 5% | Jewelry & Furs: $5,000 Silverware and Goldware: $5,000 Firearms: $5,000 Business Property: $1,500 Building Ordinance or Law: 10% Fire Department Service Charge: $500 Back-Up of Sewer or Drain: 10% Identity Restoration: $50,000 Home Systems Protection: $50,000 Service Line: $10,000 |
| Discounts Applied | $1,209 | $1,209 | $1,209 |
| Total Yearly Premium | $1,454 | $1,772 | $2,146 |
Upon the option to customize our coverage, we found their endorsements and add-ons. There were masses of coverage options available through our agent. These ranged from Adult Day Care coverage to Waterbed Liability. Other add-ons available were:
- Earthquake coverage: provides coverage for damage caused by an earthquake or volcanic explosion.
- Special limit for water damage: provides coverage for damage caused by sudden water, steam, or sewage discharge from within a household system.
- Roof surfaces payment schedule: provides coverage for the repair or replacement of your roof in case of wind or hail.
Here is how State Farm stood up against our other reviewed companies based on this address:
| Insurer | Dwelling Coverage | Annual Premium |
| Hippo | $200,000 | $2,075 |
| Farmers | $260,000 | $1,300 |
| Costco CONNECT | $348,300 | $3,172 |
| Allstate | $240,097 | $1,540 |
| State Farm | $291,000 | $1,454 |
Overall, State Farm offered us more coverage for less money than their competitors, and for hundreds less than the average for this location. We can choose from a collection of endorsements and extra protection to entirely meet our needs.
We are missing some key protections, however. For example, we didn’t notice a loss of use coverage outlined in our policy details, it is probably included in State Farm’s policies as it is part of most standard policies. We also did not find a way to add flood insurance or endorsement.
State Farm homeowners insurance discounts
Upon completion of the pricing process, specific prompts generated various options for savings that were applied before checkout. The resultant quote yielded 3 discounts, resulting in a significant savings of $1,209 for each tier of coverage. These are what we qualified for:
- Claim Record: a discount for outstanding claim history (or lack thereof).
- Home/Auto: a discount for having a qualifying auto policy.
- Home Alert: a discount for having an alarm system or other home security.
We’ve been met with more unique discounts from State Farm competitors. Still, these discounts alone saved us more money (nearly double) than the discounts from the other companies. Other than the discounts we were offered, they don’t have many other savings options for homeowners. Here are the remaining discounts we could find:
- Roofing: you could receive a discount for having an impact-resistant roof installed on your home.
- Automatic sprinklers: you could receive a discount for having automatic sprinklers installed in your home.
Does State Farm offer mobile home insurance?
Yes, State Farm provides insurance coverage for mobile homes and manufactured homes. Mobile home insurance with State Farm works in much the same way as a standard policy. The mobile home policy provides dwelling, personal property, loss of use, personal liability, and medical payments coverage, just as a standard policy would.
Just like a standard home insurance policy, State Farm’s mobile home insurance policy excludes coverage for normal wear and tear, flooding, earthquakes, or damage from pests among others. An important note is that other structures coverage may be excluded. It is important to read through your policy to determine what exactly is covered.
If you have a mobile or manufactured home, State Farm provides you with the coverage you need to protect your home to the extent that you wish to. The premium cost of the policy will differ based on a number of factors including your location, the size of your mobile or manufactured home, and condition of your home among other factors.
State Farm mobile home insurance is highly rated with many good reviews by customers. Recently purchased a mobile or manufactured home or looking for better coverage at a fair price? Talk with your local State Farm agent to discuss what options may be available to you.
State Farm homeowners insurance claims
To file a home insurance claim with State Farm, you can simply log in to your account online or on your mobile app. From here, you can track your claims process from start to finish. You can also call your agent or give them a call 24/7 at 800-732-5246.
Regardless of how you choose to file your claim, it’s wise to prepare. The NAIC registered many complaints against State Farm home insurance in 2022. Although the overall number of complaints is low for an insurance company of their size, the top 4 complaints in their registry involved claims. More specifically, unsatisfactory settlements, delays, denials, and adjuster handling were to blame.
When we take to the internet to see how their claims process goes for customers, they seem to confirm this. Several reviews we see are related to windstorm damage claims that were unpaid, or not paid in full.
Moreover, claims complaints seem to trend in favor of slowness. This customer has been waiting months for their roof claim to pull through. Another customer waited nearly the same amount of time to no avail.
Overall, considering State Farm’s size, it is natural to have a small percentage of unhappy customers dissatisfied with their claims process. In 2023, State Farm received a national complaint index of 0.35 from the National Association of Insurance Commissioners. This score is significantly below the average across all insurers since the nationwide average is always set at 1.00.
State Farm’s customer reviews
Despite State Farm’s low complaint index from NAIC, the BBB dictates how State Farm has closed 2,167 complaints in the last 3 years. Their audience concurs, with a low 1.16 stars on average from 817 customers.
Many positive reviews revel in how helpful and kind their independent agents are. For every negative review about State Farm itself, there are several more leaving reviews specifically to give their agents kudos.
It’s fair to say that the personal touch you get from your State Farm agent is true as advertised. Many online agree, the type of agent you get means all the difference when it comes to the quality of service and care you receive. It’s possible the best ones out of this bunch are what State Farm considers their “good neighbors.”
State Farm’s financial strength
State Farm and its affiliates are among Weiss Ratings’ strongest property and casualty companies with a solid “B” rating for insurance safety.
According to Weiss, State Farm offers good financial security and has the resources to deal with a variety of adverse economic conditions. They believe State Farm comfortably exceeds the minimum levels for their rating criteria and is likely to remain healthy for the near future.
AM Best follows this sentiment by providing State Farm with a superior rating of A++ for financial strength, and aa+ for long-term issuer credit.
State Farm is not accredited by the BBB, despite its A+ rating. Demotech has not yet rated this insurer either.
Final thoughts
It’s safe to say that State Farm is a strong contender for home insurance. Their prices are very competitive, giving us some of the cheapest rates we’ve seen.
Even with prices as low as they are, we still get the coverage we need to feel safe and protected in the event of a tragedy. However, there are some common coverages they lack or are less transparent about. We suppose they try to make up for this by offering us a bevy of other coverages and many endorsements.
We say it all the time, and it still stands true: A company that voices outstanding customer service is obligated to extend such service. We had high hopes for State Farm’s “neighborly” level of customer service, but we found a lot of negative reviews from their policyholders across various review platforms. However, when you consider that almost one in five homes are insured by State Farm, the number of complaints about their claims process might not be representative of a typical experience of filing a claim with State Farm.
Overall, if you want more than full coverage for a small price, State Farm may be your best bet. Find an agent that is right for you, who will help you from start to finish and provide you with quality service.