August 14, 2022
  • August 14, 2022

State Farm Auto Insurance Review for 2022

By on December 14, 2021 0

State Farm is a well known and popular insurer with a range of auto insurance policies. According to S&P Global Market Intelligence analysis, the insurer has a 16% market share based on written premiums, making State Farm the largest auto insurance company in the country.

While State Farm’s size is an advantage for policyholders seeking stability and security, its policy options, costs, and customer experience vary. If you’re considering State Farm auto insurance, here’s what you need to know.

What Kinds Of Auto Insurance Can You Get From State Farm?

State Farm offers a range of auto insurance coverage options, including:

State Farm does not offer GAP insurance, coverage that compensates for the difference between the value of your car and your car loan balance if your car is totaled. This type of insurance can save you the trouble of making payments on a vehicle you no longer own.

Instead, State Farm offers a similar program called Payoff Protector, but it is only available and automatically included if you finance your vehicle through State Farm Bank.

What additional insurance options does the company offer?

  • Carpooling insurance provides additional liability protection if you are a driver for Uber, Lyft, or another rideshare company. This additional coverage helps you if you cause an accident or if someone is injured on your property.
  • Coverage for other vehicles. The company offers different types of coverage that you can add, such as motorcycles, boats, all-terrain vehicles, and RVs.
  • Road assistance offers towing and locking assistance that you can request through the company’s mobile app.
  • Rental car coverage So you can stay on the road even when your car is being repaired after an accident.
  • Medical payments. Regardless of the fault, you can add this type of coverage for additional health and funeral benefits.

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What Are the Benefits of State Farm Auto Insurance?

Read on to learn more about the benefits of State Farm auto insurance.

  • Grouping. The company offers insurance bundling options to get a better rate. Beyond auto insurance, State Farm offers home insurance, life insurance, health insurance, business insurance, and other categories. Using a single company for multiple policies is a great way to lower your auto insurance costs.
  • Stability. State Farm is also a large national enterprise with significant financial resources. If you are company insured, that means you don’t have to worry about State Farm not being able to pay the claims or not being able to take care of an accident in Florida if you live in the United States. Michigan.
  • Well ranked for satisfaction. The company also ranks middle for customer complaints and customer satisfaction. According to the JD Power 2021 US Auto Insurance Study, State Farm’s most satisfied customers live in Florida, New York City, and the Northwest.

How Much Does State Farm Auto Insurance Cost?

According to The Zebra, the average State Farm insurance policy costs $ 108 per month. However, you might get a different quote depending on your age, gender, and the state you live in. Other factors, including your driving record, will also affect fares.

Teens $ 286
20s $ 142
30s $ 106
40s $ 104
the 50’s $ 99
60s $ 96

Source: The Zebra

State Farm offers several discounts on auto insurance, including the Steer Clear program for safe drivers under 25. Young drivers typically pay high insurance rates, but the Steer Clear program offers savings to young drivers without at-fault accidents or movement violations in the past. three years.

What Impacts Auto Insurance?

Other factors can impact your State Farm auto insurance quote. Location, credit score and driving record. Let’s take a closer look.


The state where you live will have an impact on insurance costs, as well as where you park your car. Living in a large city where crime and accident rates are higher means auto insurance costs go up, compared to small towns where crime and accident rates are low. Living in Tornado Alley or America’s Plains states can also affect the way insurers quote your insurance.

According to The Zebra, you’ll pay $ 64 per month on average if you live in New Hampshire, but you’ll pay $ 228 in Michigan.

Credit score

Your credit score also has an impact on your auto insurance rates. According to an analysis by The Zebra, drivers in general with very bad credit pay 115% more on average than those with exceptional credit.

There is some good news. By improving your credit score by just one level, you can reduce your auto insurance costs by 17%.

Insurers cannot take into account the credit scores of drivers seeking insurance in California, Massachusetts, Hawaii, and Michigan.


According to The Zebra, State Farm is one of the cheapest options for drivers after a DUI. The average monthly premium after a DUI is $ 165.


State Farm is one of the best auto insurance companies for drivers whose driving record is responsible for accidents. According to The Zebra, the average monthly premium is $ 135 after such an accident.

In general, it’s best for drivers to research auto insurance quotes before determining which plan works best.

How Satisfied Are State Farm Customers?

JD Power’s 2021 US Auto Claims Satisfaction Study ranked State Farm at 892, above the industry average of 880. The study looked at 7,345 auto insurance customers who pay. complaints.

In another survey of just under 40,000 auto insurance customers, the JD Power 2021 US Auto Insurance Study said State Farm was among the top insurers by region in several categories and was below par in just one.

The annual study provides an in-depth review of the performance of auto insurance companies nationwide. JD Power has collected customer feedback on the following five criteria: billing process and policy information, claims, interaction, policy offers and pricing.

According to the study, here is State Farm’s ranking:

Best in class

  • Florida
  • New York
  • North West

Above average

  • California
  • Central
  • New England
  • South East
  • South West

Slightly above average

  • Mid-Atlantic
  • Center-North

Slightly below average

State farm background

When you buy insurance, you want to know that the company can settle your claim within a reasonable period of time. Although insurance companies check your credit to determine your insurability and premiums, consumers can also use credit scores to assess the financial health of their insurer.

  • State Farm has received an AA from S&P Global which is a very good rating indicating a strong financial position. This is only slightly below the highest rating of AAA.
  • AM Best State Farm rating with an A ++, the highest possible rating indicating superior ability to meet insurance obligations.

Headquartered in Bloomington, Indiana, State Farm began 100 years ago in 1922. The company insures more cars and homes than any other insurer in the United States.

When considering policy options, keep in mind that State Farm agents are independent contractors with no base pay. Their compensation is based entirely on sales and commissions. Understanding this income model can help you be wary of unnecessary top-ups. Additionally, as agents are not employees, customer responsiveness and helpfulness may vary.

Keep in mind that State Farm insurance may need to be purchased a little differently. A State Farm agent can only sell State Farm insurance. This means that if you switch your auto insurance to State Farm, you will also change agents.

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