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State Farm Insurance Ratings and Company Information
Best Insurance Reports: A++
Url of page where rating was collected:
Best Rating: A.M. Best rating: A++ (superior)
Type of Insurance Company: Mutual
Name of Parent Company:
State Farm® Companies
State Farm Fire and Casualty Company
State Farm Indemnity Company
State Farm Lloyds
State Farm Bank, F.S.B.
State Farm Investment Management Corp.
State Farm Life and Accident Assurance Company
Company History: Founded in 1922 by George Jacob Mecherle in Illinois as a mutual auto insurance company, State Farm was originally a single line auto insurance company. Now the company has over 100 services and products and insures more homes and cars than any other insurance company in the United States. The company is ranked #44 on the Fortune 500 list with 65,000 employees and 18,000 agents. It has over 80 million policies and accounts and its bank has over $15 billion in assets.
Principle Sales Methods: Career agents. State Farm has over 18,000 career agents in force.
Life Annuity Business: State Farm offers Term Life, Whole Life, Universal Life, and Variable Universal Life policies. The company also offers Small Business Life Insurance with business continuation, key employees, employee benefits, and key employee incentives.
Auto Business: State farm offers a variety of coverages including: liability coverage, medical payments coverage, collision coverage, comprehensive coverage, uninsured motor vehicle coverage, underinsured motor vehicle coverage, car rental and travel expenses coverage, and emergency road service. The company also offers a variety of discounts including: good student discount car insurance, multiple automobile discount car insurance, multiple automobile discount care insurance, good driving discount car insurance, Steer Clear safe driver discount car insurance, defensive driving course discount car insurance, and the Drive Safe and Save discount program.
Homeowners Business: State Farm offers coverage for homeowners, condo unit owners, manufactured homeowners, renters, farms and ranches, and small business owners. Homeowners Insurance does not cover bodily injury or property damage by uninsured peoples, business pursuits, professional services, or ownership, operation, use, or maintenance of motor vehicles, aircrafts or certain watercrafts.
Health Business: State farm offers multiple health plans including: individual medical coverage, medicare supplemental insurance, medicare part D coverage, and supplemental health insurance. The company also offers supplemental health insurance for things like: unexpected child care, private room fees, and extra phone calls to friends/relatives. State Farm offers Disability Income Insurance, mortgage disability income insurance, and individual credit disability insurance. They also offer a long-term care insurance policy.
Special Business: State Farm offers insurance for various sport and leisure vehicles and identity protection.
Company Financial Status:
Ticker Symbol: STFGX
Assets & Premiums: Total Assets: $129.338 billion
Net Income: $1.836 billion
Lines of Insurance:
Auto, Health, Long Term Care, Life, Disability, Homeowners
States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY