- Our thoughts on State Farm
- Where can you buy State Farm homeowners insurance?
- What does State Farm homeowners insurance cover?
- How much is State Farm home insurance?
- State Farm home insurance discounts
- What makes State Farm home insurance rates go up?
- State Farm vs. competitors: How does State Farm stack up?
- Answering your questions about State Farm
- Is State Farm a good homeowners insurance company?
Our thoughts on State Farm
State Farm is the biggest name in home insurance, and because the company is so big, it can offer affordable home insurance rates and a solid financial footing to pay claims.
“Major insurers typically possess robust financial reserves and diversification, ensuring reliable claim payouts even during economic challenges,” says Siwei Gao, professor of insurance studies at Eastern Kentucky University.
State Farm performed very well in our 2024 best homeowners insurance companies ranking, earning the No. 4 spot on our list.
State Farm operates on a captive agent system, which means policies are sold through agents who work solely for State Farm. While that’s something of an old-school approach, the company has integrated modern insurance technology well; most services are available online. You can get a State Farm home insurance quote and even buy a policy without speaking to an agent.
Overall: State Farm is a highly-rated, financially stable pick for home insurance, but has limited discounts.
Where can you buy State Farm homeowners insurance?
State Farm home insurance is available in all 50 states and Washington, D.C., with one caveat: the company isn’t writing new policies in California. Although many companies are pulling back in Florida, State Farm has stated it’s committed to staying.
| State |
|---|
| Alabama |
| Alaska |
| Arizona |
| Arkansas |
| California |
| Colorado |
| Connecticut |
| Delaware |
| Florida |
| Georgia |
| Hawaii |
| Idaho |
| Illinois |
| Indiana |
| Iowa |
| Kansas |
| Kentucky |
| Louisiana |
| Maine |
| Maryland |
| Massachusetts |
| Michigan |
| Minnesota |
| Mississippi |
| Missouri |
| Montana |
| Nebraska |
| Nevada |
| New Hampshire |
| New Jersey |
| New Mexico |
| New York |
| North Carolina |
| North Dakota |
| Ohio |
| Oklahoma |
| Oregon |
| Pennsylvania |
| Rhode Island |
| South Carolina |
| South Dakota |
| Tennessee |
| Texas |
| Utah |
| Vermont |
| Virginia |
| Washington |
| Washington D.C. |
| West Virginia |
| Wisconsin |
| Wyoming |
*Some state rates will vary based on the addition of a hurricane deductible and may be much higher when included.
What does State Farm homeowners insurance cover?
State Farm’s standard home insurance policy covers all of the basics:
- Your house (dwelling coverage)
- Any detached structures on your property (other structures)
- All of the contents of your house (personal property)
- Extra bills incurred when you can’t live at home due to a covered loss (loss of use/additional living expenses)
- Damages or injuries to others caused by you or occurring on your property (personal liability and medical payments)
Like most home insurance companies, State Farm has special limits and exclusions on a home policy, some of which can be covered with an endorsement, including:
- No coverage for floods or earthquakes
- Coverage limits on certain types of property, like art, collectibles, firearms, gold and silver and musical instruments
- Coverage exclusions for damage done by non-covered perils like water and sewer backup, war or terrorism, settling, deterioration, contamination, nuclear hazard and animal or pest damage.
State Farm includes a few extra perks with a home insurance policy at no cost, although most of these are currently offered only in a few states:
- Free wildfire protection services (AZ, CO, OR, WA)
- Free Ting electrical network monitoring device to catch faults that might cause electrical fires (AK, DE, NC, SD, WY)
- Free ADT security system when you sign up for a monitoring contract (AZ, AR, IL, IN, MS, MO, OK, PA, SC, TX)
How much is State Farm home insurance?
State Farm’s average annual home insurance rate nationwide is $2,169 a year for coverage of $300,000 for the dwelling and liability. Take a look at rates for several coverage levels below.
| Coverage level ($1,000 deductible and no hurricane) | Average annual rate |
|---|---|
| $200,000 dwelling, $100,000 liability | $1,658 |
| $200,000 dwelling, $300,000 liability | $1,693 |
| $300,000 dwelling, $100,000 liability | $2,130 |
| $300,000 dwelling, $300,000 liability | $2,169 |
| $400,000 dwelling, $100,000 liability | $2,560 |
| $400,000 dwelling, $300,000 liability | $2,604 |
| $600,000 dwelling, $100,000 liability | $3,534 |
| $600,000 dwelling, $300,000 liability | $3,585 |
| $1,000,000 dwelling, $100,000 liability | $4,816 |
| $1,000,000 dwelling, $300,000 liability | $4,834 |
State Farm home insurance discounts
State Farm offers a wide variety of home insurance discounts, the largest of which are the new home discount and the auto and home bundling discount.
| Discount | Average rate before | Average rate after | % discount |
|---|---|---|---|
| Age of home | $2,280 | $1,996 | 13% |
| Bundle | $2,251 | $1,571 | 30% |
| Burglar Alarm | $1,785 | $1,692 | 5% |
| Construction type | $2,327 | $1,989 | 14% |
| Fire Alarm | $1,836 | $1,736 | 5% |
| Hail Resistant Roof | $2,134 | $2,057 | 2% |
| Loyalty | $2,274 | $2,068 | 9% |
| New Home | $2,255 | $1,316 | 41% |
| Separate Wind-Hail Deductible | $4,504 | $4,097 | 9% |
| Smoke Detector | $1,171 | $1,148 | 2% |
| Sprinklers | $2,236 | $2,087 | 7% |
| Upgrades | $2,294 | $1,903 | 17% |
What makes State Farm home insurance rates go up?
Insurance companies add surcharges to rates for certain risks that make it more likely a claim will be filed or that a claim will result in higher repair costs. Below are the average premium increases with State Farm for some common risks.
| Reason | Average rate before | Average rate after | % increase |
|---|---|---|---|
| Age of home | $2,521 | $2,673 | 5% |
| Claims | $2,071 | $2,323 | 12% |
| Construction type | $2,305 | $2,600 | 13% |
| Home-Based Business | $2,255 | $2,282 | 2% |
| Wood burning stove | $2,145 | $2,178 | 2% |
State Farm vs. competitors: How does State Farm stack up?
State Farm ranked well in 2024, landing at No. 4 and ranking above major competitors like Allstate and Progressive. It doesn’t have the lowest rates, however, with several companies including Allstate coming in cheaper.
| Company | Average annual rate | Customer satisfaction | Ease of service | Policy offerings |
|---|---|---|---|---|
| State Farm | $2,169 | 85% | 87% | 82% |
| Allstate | $2,098 | 83% | 82% | 81% |
| Progressive | $3,193 | 79% | 78% | 82% |
Answering your questions about State Farm
State Farm’s current customers and potential customers have plenty of questions about the company. Here are some common questions and their answers.
Is my State Farm policy number the same as my account number?
No. State Farm policy numbers are alphanumeric and each policy has a unique one; the account number covers all policies on the account and is connected to billing.
Does State Farm have a grace period?
State Farm’s website doesn’t list a specific grave period, but most companies will allow several days for a payment to post without canceling your coverage. If you’re going to be late on an insurance payment, it’s best to call your State Farm agent to make sure of the grace period and discuss payment options.
Who do I contact if I have questions about State Farm billing or payments?
For State Farm billing questions, contact your agent or call customer service at 855-733-7333
Can I purchase a State Farm homeowners insurance policy online?
Yes, in most cases you can purchase State Farm home insurance online at the end of the quoting process. You will have 30 days after creating a quote online to go back and buy the policy.
Will State Farm drop me after a claim?
State Farm can choose to non-renew your policy if the risk of insuring you has increased. Filing a claim, especially a big one or more than one, makes you a higher risk to the insurance company. However, a claim doesn’t automatically mean State Farm will drop you.
Is State Farm a good homeowners insurance company?
There are a lot of ways to rate insurance companies, and insurance company reviews can be a mixed bag of happy and not-so-happy customers. State Farm is a really big company, which means it can absorb more negative reviews than a smaller company. However, on every measure of insurance company reputation we gathered, State Farm performed exceptionally well.
A good insurance company is one with solid customer service, financial stability and a low number of complaints compared to the average. State Farm ticks all of those boxes.
Do people trust State Farm?
Yes. In our 2024 survey, 83% of State Farm customers said they trust the company. That’s the highest rating of any company in the survey.
Do people recommend State Farm?
Yes. In the survey, 88% of State Farm customers said they’d recommend the company to others, again topping the rankings.
Do people plan to renew with State Farm?
State Farm customers are loyal; of those surveyed, 94% said they plan to renew their home insurance policy. Only Erie, at 97%, beat State Farm, although Progressive did match the 94% score.
Is State Farm good at paying claims?
State Farm scored an above-average 880 out of 1,000 on J.D. Power’s Property Claims Satisfaction Survey for 2023, the most recent. The industry average was 874. Individual experiences with State Farm home insurance claims vary, and there are certainly plenty of anecdotes out there to indicate people have had difficulty with the claims process.
However, there’s nothing to indicate a problem with State Farm paying claims on the whole.
