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.
Bad Customer Service
We tried to get insurance quotes from our local office and were treated very rudely. After the quote was given, which was double from all the other quotes in town, I questioned this and was told to go somewhere else my business is not wanted there.
don't Give Them Your Odometer Reading
State Farm claims to save you money if you give them your odometer readings. They say if you drive less, you pay less. That makes since. I gave them my odometer reading--guess what? They jacked up my rates, claiming I drive excessive miles. They say I drive about 18,000 miles per year. My car has 44,000 miles on it and I have had it almost 4 years!
hit skipped and had to sue company
I signed up for State Farm because they have low rates and had had them for years without any claim, but God forbid that you have a claim with them. I was rear ended and hit skipped. First, I was treated like a total criminal. The adjusters that I talked to on the phone were totally nasty to me. They kept interrogating me even though there was a police report, a police officer witness and supporting damage. They would not do anything once I told them that I did not have any medical bills; I just wanted them to pay for the damage to the vehicle ($400 and some dollars). I could have gone for treatment just to get some kind of settlement, but I am not that kind of person. I could not get anyone to talk to me or return my calls about fixing my car or getting my deductible back. I had to take them to court over just a couple of hundred dollars. It is just despicable how I was treated. I imagine that the people who love State Farm have never had a claim. Also I can't write a review on their site because I no longer have a policy with them. I know of quite a few people that I have talked to since who were fine with State Farm until they had a claim too. I hope that no one has to experience this. It is just not right to treat people so badly--especially when they have just had something bad happen to them.
Obvious Hail Damage Denied
Although you pay for a policy that states it covers hail damage, it does not. Upon online research, State Farm's denial of hail damage claims is widespread and systematic. Like others who have complained, our roof has endured obvious hail damage after a storm passed through out area. This was confirmed by three professional roofing companies who inspected our roof. Homeowners who don't have State Farm have had their roofs replaced throughout our neighborhood. But miraculously, the hail missed our home according to two "independent" adjusters working on behalf of State Farm. Very unethical company.
I got rear-ended by another driver also has State Farm. Everything seemed to be going fine with the repairs until they declared the car totaled. Now I'm half at fault for the accident and stuck with a big bill.
Bait and Switch
I was doing some shopping around with insurance companies and the one that stood out to me during our phone conversation was State Farm. They told me over the phone they could save me hundreds of dollars in monthly costs. They spent time going over my records and told me how much they could save me for my house,cars... It all sounded so wonderful. So I booked a day to meet and sign the contract, cancelled my old insurance policy and headed on down to their place of operation. Soon enough I was hearing little sweet oopsie lines like "Ooooo we didn't see these two tickets"... "oooo that other guy didn't add your other son on this policy"... Here's how much we can save you now... 20 bucks.
Poor Customer Service
Recently they decided we needed to build a fence around a pool we've had for 23 years and change something on our electric meter. Our agent felt we could build fence in the winter. We had 60 days after we purchased this home to get a new roof on even though it was insured by State Farm before - that was also in the winter.Two years ago we put on a metal roof which you are suppose to earn a discount for, we did NOT get anything. We have never had a claim.
Terrible Customer Service
I was hit by someone who is a State Farm customer. This accident was not my fault. My car was hit in the parking lot when I was nowhere around it. They took forever to get my car fixed and they put me in the cheapest rental I have ever had. I went up the ladder to try to get more help, but the higher I got they worse they wore to deal with.
don't Stand Behind Customers
They were more than happy to accept 1 outrageous quote to fix the other guys car after a minor fender bender, but required us to provide 5 quotes to get our roof fixed after a major wind storm that left bare spots on our roof and shingles all over our yard.. and then they still refused to fix our roof.
Increased Rates After Two Weeks
I initially signed an agreement with an agent which said that I would be paying $120/month for my car insurance and life insurance. A few weeks later, they sent me a letter that my policy has been readjusted for my convenience. The new price was $250. They then deducted that amount from my account!