State Farm homeowners insurance company is an insurance and financial services company with its headquarters in Bloomington, Illinois. It has a long history of service for those seeking auto and homeowners insurance. As a shopper of homeowners insurance, the more information you have at your disposal the better your decision making. There are many homeowners insurance companies to consider, which means many options and many chances to find savings. Take a few moments to learn about State Farm homeowners insurance company and then compare them with other insurance providers in your area.
State Farm Homeowners Insurance Company History
State Farm began in 1922 as a mutual auto insurance company specializing in affordable car insurance for farmers. From these beginnings, State Farm has grown into the largest mutual insurance company in the world and now insures more homes and cars than any other company in the world. State Farm has been offering homeowners insurance for over 60 years and now offers a long line of insurance and financial products. It is a Fortune 100 company, with a ranking of 31 in 2009. The company also has one of the most notable commercial jingles of all-time (“Like a good neighbor, State Farm is there.”), which was written by Barry Manilow in 1971. State Farm believes in consistency and, as such, has had only five CEO’s in its nearly 90 year history.
State Farm Homeowners Insurance Company Policy Options
State Farm homeowners insurance policies range from standard policies to uniquely tailored policies with a variety of floaters (options) for additional coverage. With a standard policy from State Farm you will receive the following benefits.
- 24/7 online claims and information service
- Additional living expenses if home is uninhabitable
- Coverage for primary dwelling
- Coverage for personal possessions
- Coverage for additional property structures
- Personal liability coverage
- Replacement value for personal possessions
In addition to these standard features, you can also increase your coverage by purchasing additional liability coverage, flood insurance, earthquake coverage and hurricane coverage. Depending upon your geographical location, you may be required to purchase additional coverage for wildfires, volcanoes, landslides and tornadoes. These can also be purchased through State Farm homeowners insurance company.
State Farm Homeowners Insurance Company Additional Products
In addition to the various homeowners insurance policies available, State Farm also offers the following products.
- Auto insurance
- Boat insurance
- Business insurance
- Disability insurance
- Farm/ranch insurance
- Health insurance
- Life insurance
- Renters insurance
Virtually all of your insurance needs can be satisfied by State Farm insurance products. By combining insurance policies, you can save money due to the multiple policy discount offered by State Farm. This discount can be significant, so compare rates to find out how much you can save by shopping at one company for all your insurance needs.
State Farm Homeowners Insurance Company Financial Stability
To protect your home with a quality homeowners insurance company, you need the company holding the policy to be strong financially. An insurance company without the financial backing to survive a major natural disaster should not be considered by those shopping for homeowners insurance. State Farm homeowners insurance company, due to its size and managed assets, is considered one of the strongest financially backed companies in the world. State Farm’s assets exceed 100 billion and as a mutual insurance company, pays out dividends to its policyholders/owners. In 2007, this amounted to over 1.2 billion in policyholder dividends.
State Farm homeowners insurance company recent financial ratings are as follows:
- A.M. Best: A++ (highest possible rating)
- Fitch: AA+
- Standard and Poor’s: AA
Compare State Farm Homeowners Insurance Company Rates With Other Providers
If you have concluded that State Farm homeowners insurance company is one of the insurance providers you would like to consider further, you can compare their rates with other companies. Online rate quotes are a great way to separate those homeowners insurance companies that are within your budget and those that are not. In only 15 minutes, you can have quotes from the top companies in your area. You don’t have to leave your couch to shop for homeowners insurance and save money.