State Farm Home and Auto Insurance Review in Texas

State Farm has a strong presence in the Texas auto and home insurance markets, offering a wide range of coverage options and discounts. The company is known for its customer service and has a reputation for handling claims effectively.

State Farm Auto Insurance Review

For auto insurance, State Farm’s Texas rates are competitive, with the average annual cost for full coverage insurance being slightly below the national average. They offer a variety of discounts, including the Drive Safe & Save program, which rewards safe driving habits with potential savings of up to 30%. State Farm also provides coverage options like roadside assistance and rideshare insurance, which can be particularly valuable for drivers working with companies like Uber or Lyft​​​​​​.

State Farm Home Insurance Review

In the realm of home insurance, State Farm is noted for its affordable rates and comprehensive coverage options in Texas. Despite offering fewer discounts compared to some competitors, their overall affordability and the inclusive nature of their policies often make up for this. State Farm’s home insurance policies generally include extra coverage for the home’s structure, and they offer an “Increased Dwelling Limit” which automatically extends dwelling coverage up to 20% above the chosen limit, provided the home is insured to its value. However, it’s worth noting that as of May 2023, State Farm has stopped offering new home insurance policies in California​​.  The Texas insurance home market is in turmoil but State Farm has no plans to move out of the state according to the latest industry news.

History of State Farm Insurance

State Farm’s history begins with its founding in 1922 by George J. Mecherle, a retired farmer, as a mutual automobile insurance company dedicated to serving the insurance needs of farmers. Mecherle’s vision was to offer more affordable rates to farmers compared to what was available to urban motorists, which was a significant innovation at the time. The company expanded beyond auto insurance to include homeowners and life insurance and later banking and financial services. By 2017, State Farm had grown to employ 70,000 people and work with 19,000 agents, servicing 80 million policies across the United States and Canada​​.

The 1930s and 1940s were significant periods of growth for State Farm, including the successful “One million or more by ’44” campaign which aimed to reach one million auto insurance policyholders by 1944. Despite the challenges posed by World War II, including the halting of civilian car production and rationing of gasoline and rubber, State Farm continued to grow, reaching one million policies in effect by March 1944. The postwar years brought challenges such as a shortage of skilled personnel and office equipment, prompting State Farm to implement stricter policyholder criteria and participate in public automobile-safety campaigns. The establishment of branch offices in 1947 marked a significant organizational restructuring for the company​​.

Throughout the 1960s and 1970s, State Farm introduced new insurance products and services, including auto insurance discounts for students with good grades and limited health insurance. The company also faced challenges, including underwriting losses and controversies related to rate setting and allegations of discrimination. Despite these issues, State Farm remained a leading insurer, known for its conservative reserve practices and commitment to customer service​​.

State Farm’s history reflects its adaptability and commitment to meeting the evolving needs of its policyholders, from its roots in serving farmers to becoming a major player in the broader insurance market. For more detailed information, you can visit State Farm’s official website and explore their extensive range of services and products.

Review Summary

Overall, State Farm’s reputation for excellent customer service, combined with its broad range of insurance products and coverage options, makes it a strong contender in the Texas insurance market. Whether for auto or home insurance, State Farm offers a solid choice for those seeking reliable coverage from a well-established Texas insurer.