Major U.S. insurer offering auto, home, and bundled coverage options.
Budget-conscious consumers seeking basic auto coverage and those preferring traditional agent relationships
Established full-line insurer with extensive agent network offering competitive home, renters, and auto insurance.
Homeowners seeking bundled coverage, customers prioritizing low rates, and those wanting financial stability and higher satisfaction scores
State Farm ranks higher in homeowners insurance (No. 3 vs No. 8) and offers better bundling discounts (17% vs 10%), with lower average rates and stronger financial performance. Both insurers score 4.4/5 in auto insurance and are among America's most recognized providers, though State Farm edges out Farmers in overall customer satisfaction and pricing.
State Farm emerges as the stronger choice for most customers, offering superior homeowners coverage rankings, better bundling discounts, and lower rates with higher customer satisfaction. While both companies maintain comparable auto insurance ratings (4.4/5), State Farm's better financial strength, rate competitiveness, and recent business expansion make it the more attractive option for bundled insurance needs.
Choose Farmers Insurance if
Budget-conscious consumers seeking basic auto coverage and those preferring traditional agent relationships
| Metric | Farmers Insurance | State Farm | Diff |
|---|---|---|---|
| Customer Base(millions) | 18M+ | 18M+ | — |
| 2026 Revenue Projection(billion USD) | $20B+ | $20B+ | — |
| Year Founded | 1922 | 1922 | — |
| Customer Dividend/Returns (2026)(billion USD) | $5B dividend | $5B dividend | — |
All figures sourced from publicly available data. Last updated May 2026.
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Choose State Farm if
Homeowners seeking bundled coverage, customers prioritizing low rates, and those wanting financial stability and higher satisfaction scores
Farmers Insurance
No. 8
State Farm
No. 3🏆
Farmers Insurance
Up to 10%
State Farm
Up to 17%🏆
Farmers Insurance
4.4/5
State Farm
4.4/5
Farmers Insurance
Higher
State Farm
Lower🏆
Farmers Insurance
Good
State Farm
Higher🏆
Farmers Insurance
Solid
State Farm
Better🏆
Farmers Insurance
Top Tier
State Farm
Top Tier
Farmers Insurance
Standard
State Farm
Up 34%🏆
State Farm ranks significantly higher in homeowners insurance at No. 3 compared to Farmers' No. 8 ranking, making State Farm the better choice for homeowners seeking top-tier coverage and protection.
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| Attribute | Farmers Insurance | State Farm |
|---|---|---|
| Homeowners Insurance Ranking | No. 8 | No. 3 |
| Bundle Discount Maximum(%) | 10% | 17% |
| Average Rate Competitiveness | Higher | Lower |
| Average Annual Premium(relative to national average) | $380-$395 | — |
| Auto Insurance Rating(/5) | 4.4/5 | 4.4/5 |
| Customer Satisfaction Level | Good | Higher |
| Customer Satisfaction Rating(relative ranking) | Solid ratings | — |
| Claims Processing(null) | Full digital + agent options | — |
| Financial Strength Rating | Solid | Better |
| Agent Recruitment Growth (YoY)(%) | Standard | 34% |
| Recent Customer Dividend(Billion USD) | Not disclosed | $5B |
| 2025 Net Income(billion USD) | $12.9 billion | — |
| Rate Reductions Announced 2026(customers affected) | 700,000+ (Florida, April 2026) | — |
| Net Income (2025)($ Billion) | State Farm | — |
| Available Discounts(count) | Standard package | — |
| Accident/DUI Rate Premium Increase(percentage) | More competitive | — |
| Geographic Coverage(states) | All 50 states | — |
| Product Coverage Types | Auto, Home, Renters, Life | — |
| Service Model(null) | Agent + Digital | — |
| Claims Processing Speed | 3-7 days | — |
| Average Premium Rates | Lower | — |
| Add-On Coverage Availability | Standard | — |
| Price Transparency Rating | High | — |
| Digital Platform Ease of Use | User-friendly | — |
| Product Diversity | Comprehensive | — |
| Discount Programs(Relative Offering) | Extensive | — |
| Dividend Payout Status (2026) | Record dividend | — |
| Customer Base(millions) | 18M+ | — |
| 2026 Revenue Projection(billion USD) | $20B+ | — |
| Digital Availability | Hybrid | — |
| Year Founded | 1922 | — |
| Customer Dividend/Returns (2026)(billion USD) | $5B dividend | — |
Side-by-side comparison of numeric attributes