Reviews On State Farm Home Insurance

In 48 states and the District of Columbia, State Farm, the No. 2 firm in our ranking of the Best Home Insurance Companies of 2023, offers homeowner's insurance. The highest rating provided by the unbiased rating organisation, AM Best, for a company's financial strength is an A++. State Farm has an extensive agent network that spans the entire country, which is advantageous for people who value the ease of doing business with an agent.

State Farm provides choices for expanding and modifying policies in addition to its conventional offers. These include water backup and coverage for priceless goods. State Farm offers flood insurance under the National Flood Insurance Programme, like the majority of insurers in our category.

Discounts are available to policyholders for combining policies, not filing any claims, and installing home security systems. State Farm does not provide discounts for electronic document transmission or credit for newly constructed or renovated homes. However, policyholders that use specific impact-resistant roofing materials may be eligible for reductions.

With a sample monthly rate of $89 in accordance with our model, State Farm's costs are the lowest of all the insurers from which we were able to obtain estimates. Travellers, with a sample monthly cost of $135, is the next least expensive firm in our ranking for which we have rates.

Announcing that it would stop offering new homeowner insurance policies in California in May 2023, the firm cited "rapidly growing catastrophe exposure" to losses like wildfires. Existing house insurance policies in the state will still be serviced by the insurer.

Regarding State Farm

Home, renters, condo, rental property, prefabricated home, farm, ranch, and personal property are just a few of the property insurance options offered by State Farm. It also offers customisable options for each category's life, health, disability, and liability insurance policies. State Farm and Trupanion joined together in 2020 to offer pet insurance plans.

What State Farm Homeowners Insurance Coverage Options Are Available?

The following alternatives for homeowners insurance coverage are offered by State Farm:

Dwelling

for the replacement of your home's structure after a covered claim, or for repairs to it. This also holds true for structures that are connected, such as a deck, porch, or attached garage.

Other Buildings

for buildings on your property that are not permanently affixed to your house, such a shed, a pool, or a detached garage. The coverage for such structures is 10% of the dwelling's coverage under the regular insurance.

Personal Belongings

for the upkeep or replacement of your home's possessions. This sum is normally equal to 50% of the coverage for the dwelling under a typical insurance.

Additional Living Expenses (ALE) For higher living expenses if a covered loss renders your house uninhabitable, including hotel, rental housing, food costs, or pet boarding. Loss of usage coverage is another name for this.

Personal Responsibilty

For any accidental physical harm or property damage you, a member of your household, or anybody else causes to another person for which you are held liable under the law.

Medical Expenses

For visitors and non-family members who become ill after being hurt on your property or by a member of your family.

For your home, other structures, and personal property, State Farm offers an optional replacement cost coverage that will replace damaged assets at their current market worth without taking depreciation into account. In the absence of this endorsement, replacement is determined using actual cash value.

In order to offer free services to policyholders in Arizona, California, Colorado, Oregon, and Washington, State Farm also collaborates with Wildfire Defence Systems. In order to lessen the possibility of wildfire damage, this includes sending professionals out to homes in danger zones for preventative analysis.

What Other Homeowners Insurance Coverages Does State Farm Provide?

You can add these extra coverages to your State Farm homeowner's insurance policy:

Ordinance or Law Provides coverage for bringing your home up to current building code standards after a covered claim.

Inflation Guard automatically raises the home coverage each year to reflect increases in construction prices.

Important possessions

Obtain worldwide coverage for priceless objects like jewellery and fine art by insuring them for their appraised worth.

If you are a victim of cybercrimes, fraud, or identity theft, Cyber Event, Identity Restoration, and Fraud Loss Coverage (CEIDR) reimburses up to $50,000 in costs for restoration and offers case-management support. In every state bar North Carolina, this coverage can be added to house insurance plans.

In the event of identity theft, Identity Restoration Coverage (IDR) offers case management services and expense reimbursement, but it does not pay for damages due to fraud or cyber attacks. North Carolina policyholders have access to this coverage.

States may have different optional homeowners insurance coverages and endorsements. To learn which are offered in your state, speak with a State Farm agent.

What is the price of State Farm homeowner's insurance?

State Farm is ranked first in our ranking of the cheapest homeowners insurance providers for 2023, as was already noted. The monthly premium for State Farm is $88.83 based on our sample policy, which is for a townhouse in Naperville, Illinois, with 2,400 square feet and $500,000 in coverage.

What State Farm Homeowners Insurance Discounts Are Available?

On its homeowners insurance coverage, State Farm provides a few discounts, which include:

Multi-policy: State Farm will give you a discount on both policies if you insure your home and car with them.

Home security: You can be eligible for a discount if you have home monitoring systems including fire, smoke, and security alarms.

Roofing: You can be eligible for a reduction if you install an impact-resistant roof on your house. Before the installation, speak with State Farm to learn more. 

If your property has suitable automated indoor fire sprinklers, you can be qualified for a discount.

Claims-free: If it has been a while since you made a homeowners claim, you are eligible for this reduction.

Plan for rating utilities: Inquire with your State Farm representative to see whether you are eligible for a discount after upgrading the utilities in your house.

By state, different discounts are offered. Consult your local State Farm agent about your alternatives.

State Farm versus the Rivals

vs Liberty Mutual: State Farm

Our ranking of the Top Home Insurance Providers for 2023 places State Farm at No. 2, Liberty Mutual at No. 9, and Travellers at No. 8. Both businesses offer house insurance coverage in each of the 50 states as well as the District of Columbia.

In contrast to Liberty Mutual, which has an A rating from the independent rating service AM Best, State Farm has an A++ rating, the highest possible.

Both insurers provide an additional level of protection against damage from water backup, identity theft, and valuables.

Both insurance companies provide discounts for combining homeowners policy with other types of coverage as well as claims-free incentives. In contrast to Liberty Mutual, State Farm provides a loyalty discount and offers discounts for security equipment like alarms, allowing consumers to save money. State Farm does not offer Liberty Mutual's new or renovated home credit or its discount for electronic document delivery. Moreover, Liberty Mutual provides a discount for smart homes.

Both businesses have a mobile app and let clients request quotes online. State Farm has offices in every state, whereas Liberty Mutual does not, making it easier to contact an agent.

USAA vs. State Farm

In our ranking of the top house insurance providers, USAA is tied for third place with State Farm. Both insurance providers are given the highest financial strength rating of A++ by Best, an independent agency, and both businesses permit potential clients to request quotes online.

The most popular home insurance coverages are provided by State Farm and USAA as part of their standard policies, including guest medical insurance, which can assist with costs in the event that someone is hurt while on the insured's property, coverage for the home and other structures, personal property insurance, and liability insurance. Replacement cost insurance and identity theft insurance are included with USAA.

State Farm and USAA both offer optional coverage against damage from water backup as well as optional coverage for valued possessions. State Farm only sells earthquake insurance in California; USAA offers optional coverage. Through the National Flood Insurance Programme, both insurers provide flood insurance.

Both businesses provide discounts. Among other options for savings, State Farm offers a loyalty discount, and USAA has some special deals for military personnel who are currently on active service.

Home insurance plans from State Farm and USAA are offered in every state, but USAA's members—military personnel, veterans, and their wives and kids—can only purchase the latter's plans.

Why You Can Trust Us: We Researched 15 Homeowners Insurance Companies

To help readers navigate some of life's most challenging choices, U.S. News & World Report ranks the Best Hospitals, Best Colleges, and Best Cars. This same unbiased methodology is used by our 360 Reviews team to rate the goods you use every day. We looked at more than 15 homeowners insurance providers and insurance agencies, analysed 11 customer and expert reviews, and developed our ratings as a result. We do not accept free samples, gifts, or loans of the goods or services we review from our 360 Reviews staff. Following review, all sample products offered for review are donated. We also have a distinct business team that works independently of our methods and recommendations.

Reviews On State Farm Home Insurance