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.
Stalls And Cheap Parts
After a really bad rain storm, I accidentally drove through a huge puddle in the middle of a poorly lit street. I took the car to a shop and was surprised to hear from a State Farm adjuster that I should drive the yet unrepaired car around town for 2 weeks to see if the issues go away on their own. I refused to take it back from the shop and that's when the delays with repairs began. State Farm wanted to avoid the expensive engine replacement suggested by the dealer. They finally gave in and replaced it with a used engine against dealer suggestion. Because the repairs dragged on for so long I had to fight for reimbursement for my rental and only received partial payment back. Now I am waiting for State Farm to over-night the check for the claims so that I can finally get my car. This whole ordeal has taken almost 3 months!
Non-Renwal After A Claim
After 40 years of no claims for house and auto, I had 2 unfortunate incidents with water in my home. In 2008 my claim was for about $3,500 and in 2012 my claim was for $7,500. State Farm has let me know they are non-renewing my home owner\'s policy.
I called a State Farm rep to check on what kind of quote the company could offer me. They want $445/month! That\'s $150 more than what I\'m currently paying.
Refused To Pay For Damages
I know two people who have been in accidents with State Farm policy holders. On both instances the State Farm policy holders were responsible for the accidents and both received tickets for the accident. State Farm, in both instances, refused to pay for the damages.
Dropped After Accident
A State Farm sales agent called our home looking to sell us a policy. We decided to go with them because we had not had any accidents in years and there was only one ticket on my license. A month later, I was legally parked in a shopping center's parking lot. I came out and found that my car had been hit. There were no camera that had caught the incident. I was assured by my agent that my rates would not go up since this incident was not my fault, but yesterday I got a letter from State Farm saying that they will not be renewing my insurance policy.
Only Paid For Some Of The Damages
My car was hit by one of their policy holders. After assuming full responsibility, they only paid for the external repairs. Now I am stuck with electrical and mechanical problems, my car is tattered and shakes. I have spent $363 of my own money on bogus diagnostics only for them to get involved and contradict responsibility.
State Farm swapped the coverage rates on my 2 cars and ended up putting me at a much higher rate! I usually pay for my insurance 6 months in advance. When I bought a new car, they sent a bill with an higher premium. I paid it. The I bought a truck and again they sent a bill with a higher premium. I paid this one too. Then they swapped coverage on both cars and sent me 2 more bills. I paid those as well. Something seemed wrong, so I called State Farm. That's when I found out that they had swapped the coverage. They made the changes to fix things and then sent me back $12. I accidentally paid more that an additional $90!
Refusing To Pay
A driver with State Farm insurance rear-ended my son. The other driver was tailgating him on a canyon road! The police wrote a ticket for the other driver too after they found out that he had been follow too close. State Farm took statements from their own driver, but none from my son or his passenger. They didn't even bother trying to get a copy of the accident report from the police department. State Farm found my son at fault and and refused to pay for any of the damages!
From $80 to $500 A Month
My fiance and I switched to State Farm because they had more affordable rates. In the year that we have been with State Farm every month our bill kept getting higher and higher. Just last month we paid over $300. Now this month we receive a bill for $500. When we were given our quote and our first few bills came, we only had to pay $80. How does our bill change so much each month?
Dropped Coverage After 2 Accidents
I just got informed that the coverage for my daughter was going to be cancelled at renewal. She had an accident in 2009 that Nationwide paid for and then one additional accident (a hit a deer which was not her fault). Now they are dropping her. We have been paying premiums for our house, 4 vehicles, and a living quarters horse trailer. They have to pay two claims and drop her! I am moving all of my insurance to another carrier. They love to take your premiums until they have to spend a few of those premium dollars on a claim and then they don\'t want you anymore.