State Farm
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About State Farm
State Farm is the largest property and casualty insurance company in the United States by premium volume, with over 83 million policies and accounts in force. Founded in 1922 in Bloomington, Illinois (where it is still headquartered), State Farm operates as a mutual company — owned by its policyholders, not shareholders — which allows it to focus on policyholder value rather than quarterly earnings. State Farm employs approximately 19,000 agents across the US and Canada, making it the insurer with the largest captive agent network. State Farm offers auto, homeowners, renters, life, health, and commercial insurance, plus banking and financial products through State Farm Bank. The company generated approximately $101 billion in total revenue in 2022. State Farm's bundling discounts are among the best in the industry — customers who bundle auto and homeowners insurance typically save 17-23%. State Farm is consistently rated highest in customer satisfaction by J.D. Power for auto insurance claims.
Frequently Asked Questions
Why is State Farm so popular?
State Farm's combination of the largest local agent network in the US, consistently high claims satisfaction ratings, strong bundling discounts, and 100+ years of financial stability make it the default choice for many households. For customers who value a local agent relationship and seamless bundling of auto and home insurance, State Farm is often the best choice.
State Farm vs GEICO: which is better?
State Farm is better for customers who want a local agent, comprehensive bundling, and top claims service. GEICO is better for customers who want lower rates, prefer self-service, and don't need an agent. State Farm typically costs more but rates higher in customer satisfaction. Both have A+ AM Best financial strength ratings.