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June 9, 2015

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Auto Insurance

State Farm Review

Offering a great selection of discounts for virtually all types of drivers, State Farm auto insurance really works to provide good value for the money. With convenient claims filing options and a network of more than 18,000 agents across the country, it's easy to see why State Farm car insurance ranks among the best in the industry.

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The Good

Competitive discounts

If you're looking for discounts, State Farm auto insurance delivers. Alongside common discounts like those for good drivers and good students, State Farm auto insurance also offers price breaks for members of the military and low-mileage drivers. You can gain additional savings by insuring more than one vehicle with the company, a great deal for two-car families. It also pays to stick with State Farm car insurance for the long haul, as they offer a nice loyalty discount that continues to increase year by year. If you're in the market for a renters, homeowners, or life insurance policy, taking your business to State Farm can get you a further discount of up to 17% on your auto policy. Depending on how many discounts you qualify for, you may be in for some pretty big savings.

Strong mobile app

State Farm auto insurance really stands out for their mobile app, Pocket Agent, which is available for both the iPhone and Android platforms. Pocket Agent gives you full access to your State Farm account, allowing you to make policy payments, access your insurance cards, and locate a State Farm auto insurance agent in your area. The app's claim reporting tools are especially convenient. If you have the misfortune of being involved in an accident, Pocket Agent helps you document the circumstances, collect information from other drivers, file vehicle damage photos, and even complete a claim, all with your phone. Though you might hope to avoid using these particular tools, at least they're available if you need them.

Great online quote features

Though all major auto insurers offer the tools to build a policy and get an immediate price quote online, State Farm auto insurance really makes it easy. After you get started by entering your name and address, the quote tool takes over, guiding you right through the process. Though the tool does a good job of describing exactly what data you need to enter, if you run into trouble you can submit a question directly to a service representative or even invite a representative to join in on the quotation process, all within your browser window. There is also a progress bar displayed at the top of the screen so you'll always know exactly how much further you have to go, which is a nice touch.

Steer Clear Safe Driver Discount

If you're under age 25 and have no moving violations or at-fault accidents on your record, State Farm car insurance has a pretty cool discount program that can save you as much as 15% on your policy. To get the Steer Clear Safe Driver discount, you have to complete a special course designed to help you review your driving habits and improve your skills on the road. You'll watch videos, complete self assessments, log your driving trips, and take a safe driver pledge. This is a really solid program that makes you a safer driver and saves you money at the same time. You can collect the Steer Clear Safe Driver course materials from your local State Farm auto insurance agent, access the materials online, or download the Steer Clear Mobile App, which is available for both iPhones and Android phones.

Solid claims resources

If you get in an accident, reporting a claim with State Farm is about as easy as it gets. You can choose to contact an agent directly, or you can file a report online. If you have State Farm's Pocket Agent app, you can even submit all the materials with your smartphone, including vehicle damage photos. Once your report is complete, you can check on the status of your claim online whenever you want.

The Bad

No mechanical breakdown coverage

Mechanical breakdown insurance helps cover the cost of engine repairs and parts replacements that aren't covered by your car warranty, offering you real peace of mind as your car ages. Unfortunately, mechanical breakdown coverage is not an option for State Farm auto insurance. Though it's hard to complain much since only a few major auto insurers actually offer this type of coverage, it would certainly be nice if State Farm was one of them.

No discount for paying premium in full

If you're the type of person that likes to get ahead on your bills, you'll be disappointed to learn that State Farm auto insurance doesn't offer a price break for paying your full policy premium up front. Though many other major auto insurance companies offer just this type of prepayment discount, you won't get it from State Farm. To be fair, this is a minor quibble, especially in light of all the different discounts that State Farm car insurance offers to customers.

The Details

Financial Strength

  • A.M. Best FSR Rating: A++
  • A.M. Best ICR Rating: aa+
  • Moody's Rating: Aa1
  • Standard & Poor's Rating: AA

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