State Farm was founded as an automobile Insurance Company, and was a group of large US insurance companies, that specialized in auto insurance for the farmers. State Farm was founded by George J Mercherlee, who believed that since the farmers drove less they incurred much less losses than the city farmers, thus having to pay much less in terms of insurance. His concept achieved much popularity, and the company became successful. Today the company has more than 79200 employees, with more than 16700 agents and 71.6, million policies in the United States and Canada. The headquarters of State Farm is located in Bloomington, Illinois. The chairman of State Farm is Edward B. Rust, Jr., who also acts as the Chief Executive Officer of the company.
State Farm Background
There are many major companies that are formed with State Farm. One of these Insurance companies is the State Farm Automobile that was formed on June 7th, 1922. Some of these insurance companies have organized many farmers, in order to solve their insurance needs. Out of every five cars that move in the roads, at least one car is insured with State Farm Insurance. This is a mutual insurance company, so does not have any kind of shareholders. State Farm was actually a parent company of several wholly owned subsidiaries, that were able to provide property and life insurance, along with banking products and other services. Health Insurance was started marketing by the company in the year 1965.
State Farm Life was another company that began operations in the year 1961, in order to meet the needs of life insurance of the people, who are located in New York, Connecticut, and Wisconsinite. The company has been marketing variable products to all our customers, since the year 1998.
Another State Farm company is the State Farm Fire and Casualty, which was formed in the year 1935, with the main objective of being able to provide property insurance for the State Farm Customers who are located in the United States and Canada. State Farm has the reputation of being the largest insurer of homes since the year 1964.
State Farm County is another Insurance company that was formed in the year 1961, in order to protect the motorists. State Farm manages the company in its most of the affairs.
Another major State Farm company is State Farm Indemnity that had the objective of providing an accurate pricing and risk management technique in the market. State Farm has also a subsidiary company that is known as State Farm Guarantee Insurance Company that started with writing auto insurance in the state of New Jersey.
In the year 1962, another State Farm company was formed that was known as State Farm General, and was involved into the primary writer of State Farm Homeowners, and also property liability insurance in California.
State Farm Florida started its business in the year Feb1, 1999, and has been involved in the business of property liability business in Florida.
State Farm Lloyds is also a company that is also referred to as State Farm Bank, and has its business of underwriting homeowners and commercial multiple peril insurance in that state. State Farm started its business in the year 1983, and is managed by an attorney State Farm Lloyds, that is mandatory by law.
State Farm Bank is also such an institution with no branch offices. The State Farm agents provide most of the work of customer assistance and customer interaction. The company has $ 12 billion in total assets as on 31st December. The main focus of State Farm has always been on consumer oriented financial products.
State Farm Investment Management serves as an investment advisor. It serves as the transfer agent for the State Farm Variable Products. The company has more than 35 years of experience in the management of assets of the investment company. The State Farm VP Management Corporation serves as a broker and a dealer of the State Farm Associate, and Retail Mutual Funds and State Farm Variable products.
State Farm Insurance Agent
The Insurance Agents of State Farm are qualified people, whose main function is to make life easier for others. The following are the functions that are performed by them.
• The are the people who help you to manage our financial situation.
• State Farm offers loans and deposit products, at many competitive interest rates through the state farm bank.
• They are known to be providing good health insurance plans that work well for your insurance needs, of auto, home, life and health.
• They also shall provide you with valuable information that is necessary on how to protect yourself from the risks in order to get the most your money.
State Farm Auto Insurance
State Farm has been in the business of auto insurance since long, and has been able to provide excellent automobile coverage at affordable prices since the year 1922. When you respond to the needs of the customers, you will be a leader in the business of auto insurance.
Bait and Switch, Poor Service
We signed up with state farm because of the savings we were supposed to get by switching. After the first six months the policy amount increased slightly but since we had it going through our bank account for monthly payment my husband didn't really pay attention. We are up for renewal again and find that it is now almost a $25 a month increase. That's almost $300 a year. We both are good drivers and have not had any accidents, so I called the agent that we signed up with to ask why. All she could come up with was "cost of living" being a factor for the higher rate and kept trying to explain "how the stores raise the cost of a loaf of bread" as an example. She also alluded that you pay for quality. At that point I told her about my husband being stuck out in the cold for over an hour waiting for assistance (that never showed up) after his truck wouldn't shift into drive. My neighbor had to drive the truck home in reverse driving between my son and my husband driving my neighbor's car. She then became more concerned about the company being billed for the service more than the complete lack of service we received. when I called her out on that she said she would call me back. She did call back that evening to tell me she hadn't heard back from whomever she needed to talk to. After waiting all the next day I tried contacting her the following day. I was told that she was with a client so I asked that she return my call when available. I still have not heard from her.
Threw Me Under the Bus
I had State Farm auto for 8 years. Sterling driving record, and no claims except for the minor damage that occured when I was stopped for a light, and a deer ran into the side of the car. I carried full coverage at high limits, medical payments, and rental insurance coverage. In \'95 a drunk passed out, veered into my lane, and hit me head on. Both cars were totalled and I was lucky to be alive. Though buckled up and protected by airbags, I was heavily bruised had wiplash, and suffered from vision backouts for weeks. The drunk\'s car was littered with empty beer cans and never sustained any injuries. A repeat offender, the police report declared the drunk 100% responsible. I filed a report with my insurance agent next morning. He, and State Farm refused to accept or process my claim. They refused me medical payments, or help me with the cost of a rental car to get to work. They claimed (falsely) that I had waived my right to a claim. (Why would I do that?) They even re-wrote my policy retroactively to exclude the specific set of circumstances of my accident!! I tried to fight State Farm but I got nowhere. No one in the area was willing to take them on. The drunk was back on the road with a new sports car in ONE week. Sensing that State Farm had \"thrown me under the bus\", the drunk\'s company (Hartford) refused to send out an adjuster to the wrecker\'s yard, where my totalled car sat. It was SIX weeks before they sent an adjuster and settled, and then they only gave me about 60% of the LOW BLUE BOOK for my previously immaculate car. They said they could do this because they were following their own \"book\", which said my car was \"unpopular\"! They allowed me a couple weeks of my rental costs. (Which should have been paid in full by State Farm), and no payments for my medical problems. Apparently the drunk had friends in high places. The drunk never even apologized for all the grief he brought into my life.
State Farm Refusal
A State Farm policy holder ran a stop sign. We collided because there was no time for me to stop. State Farm did nothing for the first nine days. Then there was a refusal on their part to compensate in a fair and equitable way. They get a \"Zero\" in my book.
Totally Abandoned By Statefarm
After 30 years as a customer, a drunk driver hit my house. Statefarm\'s agent simply said \"That\'s not my job. Call claims.\" There was not tracking of the claim, no coordination of settlement payments, lost payment checks, no assistance with the case against the person who caused the loss, and total disregard for me. I was totally abandoned by Statefarm.
No Regard For Faithful, Elderly Clients
I am so sad to hear that State Farm is dropping my 83 year-old-mom's home insurance policy. She has faithfully paid her premiums the entire 57 years she and my deceased father lived in their home. Why? She filed 4 claims between 2005 and 2013--two of which she "cancelled" and did not collect any money on. She thought she had lost jewelry (some memory issues) and as soon as she found them, she called the agent and cancelled the first time and returned full amount the second. I'm disappointed that her agent whom she has known for many years did not advise her to wait or even not to file because she would be in danger of being dropped!
Dropped After Accident
Loyal customer for 26 years then wife had an at fault accident, which really wasn't but it was reported that way and we were unsuccessful at appealing the finding. They then dropped us the minute we missed a payment on our premiums though prior they were always understanding and worked with us when we had money issues. The coverage is good and the rates aren't bad, but after what happened I'll never go back. I'm with Flo now.
Can\'t Get It Right
I was with State Farm for nearly 15 years, (Home, Auto, Life)without much complaint. I have had 3 teenagers on my auto policies over the years and have been satisfied with the coverage although the cost was a little higher than other insurers.
In recent months State Farm can not get the paperwork straight! I have been receiving 2-3 bills per week for at least one of my four auto policies, refund checks for over payment on these same policies, and policy change notices. Not to mention, we moved to a new home 6 months ago and State Farm send some of these correspondences to our previous address and some to our current address. When I called my agent to ask for a clear summary of all my policies including type of coverage on autos and home, cost for each and address on file for each, she was unable to provide this information because "corporate was behind on updating my records".
Lies, Delays, and a Refusal to Pay
Was in an accident that was not my fault 3 years ago. State Farm delayed paying my medical bills while they \"investigated\" things, then refused to pay some. They put my in a position where I had to take a $7,500 small claims settlement or else file a lawsuit against the other carrier and maybe wind up with no more or nothing. THEN they wanted to repay them for medical when I was out of pocket more that amount.
I was hit by a State Farm driver and State Farm won't give me a fair diminished value for my brand new 2013 car. I wish their driver who hit me would of driven responsibly and not ran into my new car while I was stopped at a red light because now I am screwed. Didn't even get to make the first payment yet before my car gets hit and now it is fixed (with substandard, used parts) and I will never recoup the loss of value of it. Totally sucks. State Farm is NOT a good neighbor!!! Maybe I should sue the guy who hit me to recoup losses? Insurance isn't good for anything these days.
Utterly Horrible Business Practices
My grandad was a state farm policy holder for over 50yrs with no major claims. However, a few years ago when a severe winter ice storm hit our area causing major damage throughout the region state farm refused to pay for damages. I assisted my grandad in handling insurance, contractors, lawyers, etc. state farm sent a rep from their catastrophe center (CAT Center) as state farm referred to it.
All the state farm wanted to do was act severely unprofessional the state farm rep even bragged-throughout conversations over 12 mouths long- how they held out on the people in Florida who were sleeping in tents knowing they would give in eventually. UTTERLY HORRIBLE BUSINESS PRACTICES.
Yes, you read correctly this lasted over a year and state farm still did NOT COVER everything they were suppose to. state farm even argued with city building inspector I have all correspondence and paper trail quite possibly Senior Citizen Fraud on state farms end during a catastrophe.