State Farm Home Insurance Review

State Farm has come a long way since a retired farmer named George Jacob "G.J." Mecherle started the company by offering a single line of auto insurance in 1922. The company who markets itself as your "good neighbor" now offers around 100 products and services. It ranks 33rd on the Fortune 500 list of largest companies and holds an impressive homeowners insurance market share of over 18 percent, making it the largest home insurance company in the nation — more than twice that of its closest competitor. But some things don't change: State Farm still is a mutual company, owned by its member policyholders.

Effective Date: January 2020

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State Farm offers home insurance coverage at a level one would expect from one of the largest and most successful carriers in the country, with the standard items automatically included and all of the optional extras explained and made available. It also has online tools to help homeowners organize and insure their property, such as their Home Insurance Resource center and moving checklist.

As the nation's insurance carrier with the most home insurance policies in force and the largest number of premiums collected, it could be said that State Farm sets the standard for what a typical home insurance policy looks like. There aren't many surprises to be found in the property and liability coverages that are offered, other than, perhaps, the fact that it doesn't have a restricted breeds list for dogs. Instead, risk assessments are based on the bite histories of the individual animals, which means you won't be denied coverage or have to pay a surcharge solely because of the type of dog you have.

State Farm's status as the nation's largest home insurance company puts it in the position of establishing industry standards for add-on coverages. State Farm did, however, remove itself from participating in the National Flood Insurance Program a number of years ago, requiring policyholders who want flood insurance to seek that coverage from the federal government through different insurance companies.

There are a number of ways to reduce your home insurance premium with State Farm, although most of them are via standard discounts that can be found at any major insurance carrier.

State Farm employs a multi-channel approach to filing a claim in order to make it as convenient as possible for the policyholder. Claims can be reported online, called in to the toll-free claims number, or reported directly to the policyholder's local agent. The Pocket Agent mobile app also has the ability to let you file a claim. The State Farm website has a list of steps to take throughout the process to help the entire experience run smoothly. State Farm also provides an online tool to help you check the status of a claim that has already been filed.