State Farm is the largest auto insurer in the nation, with about 10 percent of U.S. car policies and 14 percent of homeowners’ insurance policies on its books.
The Bloomington, Ill., company also sells life insurance, banking services, and mutual funds, but most analysts agree that driving is critical to State Farm’s success because it locks customers into State Farm for all their financial needs even if they move out of state or decide never to drive again.
Why is State Farm so popular?
State Farm offers lower rates than other insurers because its advertising budget is among the highest in the business and it sells insurance to drivers who statistically pose a high risk of filing claims.
The company’s large market share and relatively low rate for policies that cover multiple cars and homes allow State Farm to charge less for premiums than other insurers, while still earning healthy profits.
State Farm has a tried and true method for success. They rely on exclusive agents (also known as captive) who are given complete control of selling only their product, meaning that no other company can approach them or offer what they don’t already offer customers!
Important Update on COVID-19
In response to COVID-19, State Farm shopping hours can vary, or maybe the spot can be currently closed as a consequence of quarantine limits. Check out the specifics of delivery choices on the local website of State Farm.
State Farm tweaked their shopping hours to permit employees a little extra time to clean as well as resupply goods on racks. Added to that, numerous State Farm locations have recently setup distinct shopping hours for members of the at-chance class.
What time does State Farm open?
| Monday | 09:00 AM – 05:00 PM |
| Tuesday | 09:00 AM – 05:00 PM |
| Wednesday | 09:00 AM – 05:00 PM |
| Thursday | 09:00 AM – 05:00 PM |
| Friday | 09:00 AM – 05:00 PM |
While the majority of offices are closed on weekends, several will open by appointment only. You can contact your local office or customer service department for assistance if you need to make an appointment during these times and days – they vary from location too!
Is State Farm open on weekends? – Usually no, but you can contact your local shop for more details.
Will State Farm be open tomorrow? – You can check out the working hours on the table above.
The background story of State Farm
In 1922 George Mecherle was a retired farmer when he decided to start a business. He borrowed $100 from his wife and purchased a non-life insurance policy from the Lincoln Insurance Company of Springfield, Illinois for $114. After he had written his first auto policy, he went back to Lincoln and told them that while he understood their need to make a profit, they should also think about all the good people who weren’t in a position to buy policies because they were too expensive.
Lincoln’s board was skeptical of Mecherle’s idea at first but agreed to try it out in Illinois – if it worked there then perhaps other states would want it too. The plan worked beyond anyone’s expectations and soon Mr. Mecherle found himself with more clients than Lincoln could handle! What is now State Farm insurance company was founded in 1922 as a mutual auto insurer owned by its policyholders.
In the early nineties, State Farm became a publicly-traded company and is now one of the largest financial services companies in the world, with assets over $800 billion.
The logo history
It was a bird, a turtle, a pyramid, and a flying “S” that made up the many iterations of State Farm’s logo over the years. The original logo was a drawing of a rural farmhouse with two cars in the driveway.
In 2003 State Farm began using its current simple logo, sporting only words and an image of what looks like an airplane or rocket ship. In 2010, State Farm discontinued use of their old slogan “Like A Good Neighbor” which had been used since 1993 credited to Ed Rust. Today they go by “Here to help life go right.”
State Farm Holiday Hours – Open
| DATE | HOLIDAY |
|---|---|
| November 24 | Thanksgiving |
| December 25 | Christmas Day |
| November 11 | Veterans Day |
| December 24 | Christmas Eve |
| January 01 | New Year’s Day |
| December 31 | New Year’s Eve |
State Farm company locations
There are a lot of different places where you can find State Farm. You can contact your local office or customer service department for assistance if you need to make an appointment during these times and days – they vary from location too!
The State Farm company offices locations include Bloomington, Illinois; Cary, North Carolina; Jefferson City (Columbia), Missouri; Kansas City (Overland Park), Missouri Malaysia; Mobile (Daphne) Alabama; Nashville Tennessee; New York, New York; Portland (Clackamas), Oregon; Schaumburg, Illinois; Scottsdale Arizona; Washington District of Columbia.
State Farm near me
What does State Farm do?
State Farm Mutual Automobile Insurance Company is a mutual insurance company that sells auto insurance in 49 states (North Dakota, South Dakota and Wyoming are the exceptions). On February 29, 2008, State Farm announced it would be consolidating operations and closing two of its Colorado facilities in Loveland and Colorado Springs.
They provide customers with liability, collision, medical payment, and other insurance products such as extended car warranty. They also offer banking services such as free checking accounts and direct deposits.
State Farm is an insurance company that offers a variety of different types of policies for various purposes; including
Auto Insurance (includes rental reimbursement)
This type of insurance also covers damage to any cars that you may have borrowed or rented. They do sell this type of insurance in all states except North Dakota, South Dakota, and Wyoming.
Homeowners Insurance
This is for people who own property which they live on and want protection from damages caused by natural disasters such as hurricanes or tornadoes, or worse – a fire! This type of policy doesn’t cover theft – so if someone breaks into your house and steals something then it’s not covered under this policy.
Motorcycle Insurance
This type of insurance covers all states except Alaska, Arizona, California, Hawaii and Minnesota.
Boat Insurance
Boat owners who want protection from damages or accidents should purchase this type of coverage. This policy only applies to boats but does cover propellers and any damage caused by a storm – as long as you were on your boat at the time it happened. It also includes a rental reimbursement if someone borrows your boat.
Recreational Vehicle Insurance (Motor home, trailer, etc.)
If you own a recreational vehicle such as a motor home or camping trailer, then you may want to consider this type of insurance. It will cover your vehicle from any damage caused by weather – including tornadoes and earthquakes. It also ensures the people living in your RV at the time it happens.
Travel Trailer/Camping Trailer Insurance
If you own a travel trailer or camping trailer, then this type of insurance is right for you! It covers any damages to your vehicle caused by weather including earthquakes and fires.
Personal Umbrella Insurance
This insurance protects people who live in their homes (Primary residence) if they get lawsuits over $1 million. If someone gets hurt on your property such as slipping on ice, tripping over something left inside your house, etc., this policy will cover the cost to defend the person who got injured plus payout settlements of up to $1 million.
What is the State Farm mission?
State Farm is an insurance company that sells a variety of policies and provides services to its customers. Their main goal is to ensure their customer’s safety and well-being; whether they’re walking down the street, driving in their car or living in their home!
Their policy statements are located on their website.
Statement of values. State Farm is committed to excellent customer service and gives its customers “peace of mind” by giving them the coverage they need when they need it.
Statement of philosophy. State Farm believes in leadership through doing the right thing and being an accountable community partner. They also believe in sharing success with their employees, agents, communities, and policyholders.
Who is State Farm owned by?
State Farm policyholders are the owners of State Farm. The company is a mutual company, which means that it is owned by its policyholders.
That being said, I should note that State Farm is not a completely mutual company. About 1/3 of its shares are held by outside investors. However, the policyholders still have the majority vote when it comes to electing the Board of Directors and setting corporate policies.
How does State Farm rank amongst other insurance companies?
State Farm ranks number eleven on the list of America’s largest property-casualty insurance companies. It provides homeowner, auto, life, health, commercial, and farm/ranch insurance policies to more than 92 million customers through over 18,000 agency locations across all 50 states!
Does State Farm offer umbrella insurance? Yes. Personal umbrella liability insurance protects individuals from claims made against them for damages that exceed their liability limits on their usual homeowners or renters policy. This type of policy works by paying out when the liability limits have been exhausted. It can also cover accidents that occur in your car, on your boat, or while you are using any other type of vehicle!
Business insurance possibility
State Farm offers business insurance including:
Business property
This type of insurance can protect small businesses from damages to their personal property; on or off-site. This includes the destruction of inventory that was damaged by, for example, a fire or storm. Equipment damage caused by flooding is also covered under this policy. Damages to an office building are not included unless you purchase additional coverage.
Commercial Auto Insurance
If your business owns vehicles that are used for commercial purposes (such as delivery trucks) then you should consider buying this type of policy. It will pay for damage caused by accidents involving one of your insured commercial vehicles – regardless if it’s actually at fault or not! When purchasing this type of insurance the company has the option to choose between actual cash value (ACV) or replacement cost.
Workers Compensation Insurance
Every state has a different requirement for – and State Farm can help you figure out what it is! This type of insurance protects employers from claims by their employees who got injured on the job – regardless if they were at fault or not.
If someone gets hurt working – cough, cough – in a physically demanding career such as farming, fishing, ranching, etc., then there’s always the risk that they will get hurt and need to file a workers compensation claim. In return for this protection, employers pay either a flat rate per employee or a percentage of payroll into an insurance fund managed by the state government.
Business Owner Policy (BOP)
This type of insurance protects small businesses from accidents and lawsuits that might occur on their property or during business operations. It can also include coverage for a commercial vehicle! As you can see, State Farm has a wide variety of insurance options to help keep you and your family protected at a reasonable rate!
State Farm banking
This company offers its customers the following types of banking:
- Checking accounts
- Savings accounts
- Certificates of Deposit (CD’s)
- Money market accounts State Farm offers a wide variety of loans to meet your needs. They have everything from mortgages, personal loans and student loans to home equity loans and credit cards!
What type of agency does State Farm have?
State Farm has both full-service and limited-service types of agencies to fit the needs of every customer! Short term health insurance
Full-service office – A full office can offer many different products and services with an emphasis on personal financial services.
Limited – Service – This type of business is smaller and offers just a few products for their clients to choose from which might include: homeowners, auto, and life insurance, along with other basic insurance options. These offices are perfect for those who want a quick solution to their home or car insurance needs.
Can you switch State Farm agents?
You don’t even need to tell State Farm that you plan on switching agents. If you want to switch, then you can simply find a new agent and ask if they are currently representing State Farm and if they would like your business.
When you insure more than one car with State Farm it is very beneficial because they offer many discounts which can save you up to 40% discount!
FAQs:
Is State Farm a Canadian?
State Farm no longer operates in Canada.
State Farm conducted business in Canada for decades and provided coverage in Alberta, Ontario, and New Brunswick. In 2015, its Canadian book of business was purchased by the Desjardins Group, making the State Farm brand officially defunct in Canada.
Who is Jake from State Farm?
It’s true Kevin Miles is best known for his smiling face as Jake From State Farm. But he has quite a resume as a commercial actor and has represented several brands. You might recognize him from his parts in ads for Slim Jims, Taco Bell, or Pepsi, among others.
Is State Farm good at paying claims?
State Farm is generally good about paying out claims. The company received a score of 892 out of 1,000 in the J.D. Power Auto Claims Satisfaction Study, which ranked it in sixth place.
Who is State Farm’s biggest competitor?
Geico Auto Insurance. State Farm is currently the largest auto insurer in the U.S. according to the National Association of Insurance Commissioners (NAIC), closely followed by Geico. Both companies hold strong financial reputations and customer service ratings.
What bank does State Farm use to pay claims?
We are excited to introduce digital payment options through Fiserv that will simplify the claims payout process for our customers and provide added convenience.”
What is State Farm’s slogan?
The history of State Farm’s slogan
“Like a good neighbor, State Farm is there” has been a part of State Farm’s image since 1971. Yes, this catchy slogan, which has become iconic through its use in jingles, has been around for 50 years.
Is State Farm a Fortune 50 company?
State Farm, a Fortune 50 company, is consistently recognized as a top employer in the U.S.
Does State Farm car insurance cover me in Canada?
According the U.S. State Department, your U.S. insurance is valid as long as you have tourist status in Canada. That means you are covered by your U.S. policy as long as you don’t stay too long. As a U.S. citizen, you can enter Canada without a visitor’s visa and stay for up to six months.
How did State Farm get its name?
He started selling policies for an insurance company in Bloomington, Illinois. He quickly left that company and formed the State Farm Mutual Automobile Insurance Company. He gave it that name to indicate that he wanted to insure farmers in the state.
How much does the State Farm guy get paid?
Looking to capitalize on the character, State Farm’s advertisers eventually ended up hiring an actual actor to take over the role. Kevin Mimms joined the team and took over the role of Jake, including reshooting the famous “Jake from State Farm” scene. Mimms has earned between $10,000 and $15,000 for his ads.
How much does State Farm pay Jake?
And the Jake state farm salary is $10,000 to $15,000 per commercial as per the available source. Actor Kevin Miles was appeared as Jake for marketing a reputed insurance company of USA. The real Jake who cast as jack in the insurance company, that agent name is Jake Stone.
How much did Jake from State Farm make?
How much does Jake from State Farm make? The original Jake, the real-life State Farm agent named Jake Stone, made around $10,000 for his role as himself in the commercial. Kevin Miles, the new Jake, earns around $10,000 to $15,000 for his ads. He’s also a social media influencer with a net worth of $2 million.
