State Farm Review
State Farm is one of the largest providers of auto insurance in the U.S. It offers customers a wide variety of insurance and banking products.
State Farm Customer Satisfaction Data
You can look at various sources of customer reviews on the internet, but unfortunately the information in these reviews is often confusing.
It is more likely for people to write about their negative experiences than to take the time to go to an online review site to write about what a great time they had. So it can be difficult to figure out how an insurance company does overall just based on random internet reviews.
However, there are a few studies, or collections of data, that can help you get a good sense of how a company is doing at a glance.
State Farm Rankings for Claims Service
J.D. Power's 2017 U.S. Auto Claims Satisfaction Study is a good overview of customer satisfaction in claims and in it State Farm ranked eighth, with a score of 3 out of 5. This being said, over a dozen companies scored below State Farm with either equal ranking or less.
State Farm Complaints and Rankings
According to NerdWallet, State Farm had more than "the median number of complaints to state regulators in 2016 for a company of its size for auto insurance." Listed as part of the reason State Farm received a ranking of 3 out of 5 stars on NerdWallet's best car insurance companies list, ranking 24th, based on complaints data from the National Association of Insurance Commissioners (NAIC).
You can research and check data on local State Farm offices on the NAIC website.
What Makes a Car Insurance Company Top Ranked?
There are a number of things besides claims service that might make an insurance company rank number one. Customer satisfaction can be based on service, good prices on car insurance, and many other factors.
You can learn more about the different factors used in determining top ranking car insurance companies to help you understand if State Farm is a good insurance company for you.
In some cases if an insurance company uses credit scoring, then it may make it a better or worse company for you based on your insurance score or credit score.
State Farm Reviews and Customer Satisfaction Rankings by Location
Other considerations for whether an insurance company is a good choice for you relates a great deal to the people at your local branch, as well as the local claims adjusters.
When you look at the list of top ranking car insurance companies by state, you will notice that the top insurance company for customer satisfaction and claims may change depending on which state you are in.
You might also want to know what kinds of advantages the company can offer you as its client.
List of State Farm Advantages:
State farm offers several advantages to clients to make life easy and save money. Some of the advantages include:
- A mobile app on which you can look at your policy info, submit a claim, and other useful tools.
- Ride share insurance is offered in most states.
- Steer Clear program for drivers under 25 and the Drive Safe & Save program to help good drivers save money on insurance premiums.
- You can get quotes and buy insurance policies online through the State Farm website.
When an insurance company makes life easier for clients, or comes out with products that the population needs like ride share, it can be a big advantage.
Financial Stability and Rating for State Farm
Besides customer satisfaction, claims service and other factors we have discussed, and insurance company's ability to pay claims is important. Rankings are used to understand an insurance company;s financial stability in the marketplace. A.M. Best rates State Farm's financial strength as A++ (SUPERIOR). And S&P Global, also known as Standard & Poor's, rates State Farm as AA. So although this doesn't speak towards how you might feel during a claim, or about your specific interactions with the company, it gives you an indication if it can pay out a claim and how stable it is financially.
State Farm Historical Notes by Bobbie Sage
The State Farm Company began in 1922 and has since largely dominated the top spots in the insurance marketplace. Along with auto insurance, State Farm offers a wide selection of insurance choices along with banking services.
- State Farm insurance provides many insurance choices including auto, home, life, and health along with a financial company.
- The State Farm company offers customers local insurance agents along with a website for insurance shopping and bill paying.
- State Farm is a top company for workplace diversity and has earned many awards.
"Like a Good Neighbor, State Farm Is There." We all know the jingle, but does State Farm really live up to its good neighbor slogan? State Farm is one of the most popular choices for customers. However, it has had its good neighbor image tainted more than once.
State Farm has had its share of lawsuits just like any insurance company, but there are a couple of incidents that still somewhat flaw the company's record. In the 1970-1980s, State Farm was accused of racial and sex discrimination in its hiring practices along with discrimination in how it chose its customers. The company has remedied this since and has become one of the top firms for workplace diversity.