At a Glance: State Farm vs. Farmers
Use the next chart to match State Farm and Farmers home insurance coverage based mostly on essential elements like cost and protection choices.
*Average premiums based mostly on information from Quadrant Information Services. For comparability, the national common cost of householders insurance coverage is $2,417.
**Percentage of claims permitted based mostly on our 2023 survey of 1,500 policyholders who’ve filed a owners insurance coverage declare with the suppliers on this evaluate. Your expertise will differ.
***AM Best score is correct as of July 2023.
State Farm vs. Farmers: Cost and Discounts
State Farm has decrease annual charges than the nationwide common, whereas Farmers insurance coverage premiums are larger than the nationwide common. According to information from Quadrant Information Services, the common annual cost of a State Farm home insurance coverage coverage is $2,215, whereas Farmers prices $2,670 per 12 months.
While dearer, Farmers owners insurance policies present extra protection choices in comparison with State Farm. However, State Farm gives decrease prices for related protection high quality.
Cost by State
Nationally, the common owners insurance coverage coverage prices $2,417 per 12 months. State Farm home insurance coverage is available in below that at $2,215, whereas Farmers exceeds the common at $2,670.
However, if you break down common premiums by state, Farmers charges could also be cheaper than State Farm. For instance, the common State Farm home insurance coverage premium in Illinois is $1,775, whereas the common Farmers coverage is $1,543 per 12 months.
Getting an insurance coverage quote can affirm which insurance coverage firm is extra reasonably priced in your space.
Home Insurance Discounts
State Farm has restricted choices for coverage reductions however gives decrease base premiums in comparison with another suppliers like Farmers. Despite larger common prices, Farmers gives considerably extra owners insurance coverage reductions, giving policyholders a number of choices to save lots of on premiums.
Like many insurance coverage corporations, State Farm gives financial savings if you bundle your home and auto insurance coverage — and financial savings could be as a lot as $1,000 per 12 months. State Farm reductions embody:
- Multi-policy bundling
- Home safety system
- Remaining claims-free
- Using particular impact-resistant roofing supplies
Farmers gives the same low cost for bundling home and automobile insurance coverage insurance policies, nevertheless it additionally supplies extra distinctive financial savings choices. The complete quantity it can save you and your eligibility is determined by your protection wants and placement. Available Farmers reductions embody:
- Multi-policy bundles
- Home safety system
- Remaining claims-free
- UL-approved roofing supplies
- Preferred fee or EFT
- Good payer
- New home
- Connected home
- Green home
- Affinity low cost for sure professions
- ePolicy
State Farm vs. Farmers: Customer Service and Claims
State Farm and Farmers each supply customer support by telephone and on-line chat — 24 hours a day, seven days every week. You may also contact your native insurance coverage agent throughout common business hours.
The NAIC Complaint Index measures the variety of complaints filed by prospects relative to the trade common. In common, each corporations rank under the trade common for buyer complaints. State Farm’s home insurance coverage insurance policies have a excessive buyer satisfaction score, with an NAIC Complaint Index score of 0.53, and Farmers’ score is comparable at 0.3.
According to our 2023 survey of 1,500 home insurance coverage policyholders, State Farm approves 95% of claims, and the common wait time is 12 days. In the 2023 J.D. Power U.S. Property Claims Satisfaction Study, Farmers rated just under the trade common of 874, scoring 873. State Farm rated larger in buyer satisfaction with a rating of 880.
State Farm vs. Farmers: Customer Reviews
Reading on-line buyer opinions can supply insights into the experiences of present and previous policyholders. We compiled a mixture of optimistic and destructive opinions for each State Farm and Farmers under to offer you an thought of buyer satisfaction.
In on-line opinions, State Farm prospects be aware how the corporate gives environment friendly and courteous service that goes above and past commonplace care. On the flip facet, many shoppers report receiving much less protection for losses than anticipated.
Reviews by Farmers Insurance prospects generally check with useful and affected person brokers. Negative opinions from policyholders complain of excessive charges and surprising costs.
State Farm Reviews
“I have been with State Farm for over 35 years and have always had immediate and courteous service.” —Teresa B. through Trustpilot
“I recently filed a claim for hail damage. It was really quick and very easy. No complex procedure [and] no struggle to get approval. The good thing is [State Farm] provided the check on the day of the inspection itself. I had experience with other insurance waiting for a few months to hear back and receiving a check! I highly recommend State Farm if you really want to be worry-free about your insurance claim!” —Priya S. through Trustpilot
“Just made a payment to keep my homeowners insurance active before it was going to be canceled next month. Very frustrating to get a letter in the mail stating the policy would be canceled after I called recently to ask if everything was OK … the rep stated my account was fine [with] no outstanding balance. I have my car and home insured and not sure if the rep just looked at the car policy only or what but regardless — it’s State Farm‘s job to check all accounts. I’m very disappointed in this transaction and hope in the future this doesn’t happen again.” —Anonymous buyer through Trustpilot
“I’ve been a customer for close to 50 years. [State Farm’s] customer service used to be the best. That is no more … I don’t like having my time so badly wasted by a company that takes my money but doesn’t have the time or interest in providing the promised service. The value of my time is clearly of no interest to them.” —Glenn through Trustpilot
Farmers Reviews
“The best insurance agency out there! Love Farmers. Super intuitive and easy.” —Nick through Trustpilot
“Farmers insurance gives the best rates for home and business insurance! [It] provided me with great coverage, rates and discounts.” —Beena through Trustpilot
“[Farmers] never return a phone call. We have multiple homes and [cars insured] with [the company]…” —Susan through Trustpilot
“The rate was OK but the customer service was bad. Tried to get a new agent with no help.” —John through Trustpilot
The Bottom Line
If insurance coverage cost is your main concern when searching for home insurance coverage protection, State Farm is an effective choice. The firm gives decrease charges in comparison with suppliers like Farmers and stable home protection. It additionally has a stable customer support repute and fewer buyer complaints than Farmers. However, State Farm gives fewer reductions to decrease premium prices and restricted protection add-ons.
For extra customizable protection, we expect Farmers is the higher alternative. With a listing of distinctive endorsements and extra reductions, you’ll be able to construction your coverage to suit your home protection wants. While its premiums are above the nationwide common fee, Farmers gives three tiers of protection choices on your home safety wants.