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.
after 30 years of home owners insurance & vehicles
After having State Farm insurance coverage for 45 years with no claims, they dropped me. I am in a solid brick home, not on the water, and they drop me. Their rates are extremely high. Yes I have like my agents, and they have serviced me well, but I am tired of paying that high price and angry that they dropped my home insurance
Couldn\'t Cover My Car Or Cancel
I have been a State Farm customer for 13 years with only 1 claim about 12 years ago for hail damage. I recently bought a new car and called them to get coverage. It was New Years Eve and my agent was not open, so I went to their 800 number. After being on hold for 50 minutes I was told by the agent that they could not cover my new car, but they had no reason why. I then called back and asked to speak to a manager and held for 35 minutes. I was told by the manager that they could not cover my car and she did not know why. I had called my husband and had him check with USAA to see if they could add me to his policy. They were happy to do this and save me $20/month. After a third call to State Farm, I was told they could cover my car and \"it must have been a computer glitch.\" On New Years Day I decided to get my coverage with USAA and called State Farm to cancel all of my coverage with them. The person was very helpful and told me it was all taken care of. On January 2nd, I received a call from my agents office telling me about my coverage on my new car. I told them I had cancelled my insurance with them. The woman rudely told me I had to sign something to cancel my insurance. I had her fax it to me and I sent it back. Imagine my surprise when on January 15th my payment to State Farm was drafted out of my checking account. I called my former agent\'s office and was told that I had not cancelled early enough. I think 2 weeks is plenty of time to have that taken care of. She told me I would have my money back \"next week\". It is now 2 weeks later and I still have not received my money. I called again and was told \"the check is in the mail\".
Over Year, No Resolution
It's been more than a year since I was involved in an accident and since then I have had no cooperation at all from my State Farm claims agent. The only contact with him has been a letter dated which mentioned that they were looking into my situation.
From $700 to $3,144 A Year
My premium when I first signed up was about the same as my property taxes, around $700/year. In the 20+ years that we've been customers, we have not had a lot of claims, but our premiums have gone up every year! Now they are $3,144/year. Our agent said that the high cost is because we live more than 5 miles from the fire department. It's 6.5 miles from the fire department. In our small down, that 1.5 miles would take an extra 2 minutes at most!
Too Many Claims in FL
When FL had too many claims, they sent a letter saying that they were no longer selling homeowners insurance in FL.
Think We Staged It
My parents home was broken into. They kicked in a cellar door, went on a rampage through the house, and took everything they could find including a ceramic sink in the cellar used for draining washer into. They completely trashed the house. It's unbelievable what they did! Our agent interrogated us, sent us a letter in so any words accusing us of staging the robbery and wanted us to sign a letter allowing them to come back at us any time in the future for any questionable evidence. We refused to sign. We have never ever made a claim for anything have paid many many years. We have been treated awful.
Rude And Difficult Agents
A toilet in our home overflowed. Water flooded two bathrooms since they are adjacent to one another. I filed a claim with State Farm as soon as I got home, about 3 hours after it happened. They sent a crew to clean up all of the water. After the crew left, I discovered there was $500 missing from my house. The agent told me that the missing money would have to be filed as a different claim, one for theft. Theft is not covered under my flood insurance, so the claim would have a separate deductible of another $1,000. After getting the statements from the clean-up crew, the adjuster cut cost and refused to replace the damaged carpet. then he began to avoid my calls. He became rude and abrasive. He hung up on me several times.
won't Insure Unoccupied House
I have had homeowners policy since purchasing my house. I had moved from this house to another property a few miles away. I received a call from the insurance agent a few months ago telling me that State Farm does not cover homes that are not occupied by the homeowner. I told them that I was planning to move back into the house in the near future. They said I would need to prove that I was living there by 12/13/12 or my policy would be cancelled. I moved into the house in the first week of November. They wanted an electric bill showing that my electric usage was increased to prove that I occupied the home. I brought this to the office. Then they said that they really needed 2 months bills, so I took them one that showed 2 months of increased electric usage. Then they said that the underwriters would not re-instate my coverage because my homestead exemption was still on the other house. Meanwhile they cancelled by coverage and notified my mortgage company, so that I now have no homeowner's insurance.
Biker Hit By A Car, Claim Denied
State farm has terrible service as a victim. I was hit by a car while on my bike. the driver has State Farm insurance. My claim was denied without State Farm even taking a statement from me. They said that it was my fault. I had the green light. How can it be my fault?
Dropped After A few Claims
I am a long time State Farm customer (25 years) with a very very low claim history. During the last 5 years, I had one near miss from a Tornado which resulted in a small claim. A claim from vandalism where someone threw a rock and knocked my window out. Hail damage from a severe storm that killed my roof. Then a drunk driver ran off the road over a stop sign and curb, and into the front of my building. I got a letter yesterday stating that State Farm is canceling my insurance. They are a great company as long as your just mailing premiums to them, but if you have a few claims, they drop you like a hot potato.