What do I need to know about State Farm Auto Insurance?
We've got everything you need to know about State Farm Auto Insurance, from coverage options and discounts to payment options and what may affect your rates.
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Written by
Mathew B. Sims
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Reviewed by
Daniel Walker
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UPDATED: Apr 21, 2020
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- The company was founded in 1922 with State Farm car insurance coverage following shortly after
- They offer many different types of auto insurance options for consumers
- State Farm takes several factors into effect when calculating the rate for your auto insurance premium
State Farm as a company is financially strong and generally receives positives ratings and reviews from independent entities.
Some consider them more expensive, but they have the finances and reputation to pay their claims.
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Other than liability, what covers does State Farm offer?
They offer many different types of auto insurance options for consumers. Bodily injury and property damage liability are available options for State Farm customers.
- Personal injury protection will cover your expenses and lost wages that occur as a result of an auto accident
- Medical payment coverage takes care of hospital and funeral expenses that result from injury or death in an auto accident
- Collision coverage handles damage that occurs to your vehicle as a result of an auto accident
- Comprehensive coverage handles damages that occur as a result of anything other than a collision with a vehicle or object. This includes fire damage, hitting a deer and acts of Mother Nature.
- Uninsured and underinsured motorist coverage handles medical expenses that occur as a result of an accident caused by an uninsured driver or a driver with insufficient coverage
Rental reimbursement and emergency road service are additional options available to State Farm customers. These are not necessary but can raise your premium for the convenience of the service. With these
With these services, you can be reimbursed for renting a car if you have an open claim and your vehicle is totaled.
You also can be reimbursed for towing expenses if your car breaks down.
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Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Can I get a discount on my auto insurance through State Farm?
State Farm offers several auto insurance discounts to qualifying drivers.
You can receive a discount for having multiple vehicles on one policy or having other insurance products through State Farm.
There discounts for excellent driving, having no accidents on your record and for safety features on your vehicle, or being a student.
More information on these discounts can be found on the State Farm website.
You can speak with an agent for State Farm to find out which discounts you may qualify for.
What determines how much my premium will be?
State Farm takes several factors into effect when calculating the rate for your auto insurance premium. They consider the number of vehicles on your policy, and how much it would cost to replace each vehicle.
State Farm gives you the opportunity to decide your deductible. If you have a lower deductible, your premium will be more.
If you don’t mind having a higher deductible, then you can save money on your auto insurance premium.
Your driving history is a large part of what determines how much your auto insurance premium will be.
Accidents, auto insurance claims and speeding tickets can all increase your premium.
State Farm does not indicate how far they will go back to look for these incidents. Insurance companies will generally keep all tickets and claims on your record for 3 to 5 years.
How is risk related to rate?
Risk is the ultimate factor that determines your auto insurance premium. There are statistics that claim certain drivers are safer or more prone to accidents.
You may receive a higher or lower insurance premium based on your age, sex or marital status.
State Farm will also look into the area in which you live as well as how much you drive.
If you drive a long distance to go to work, then the risk is higher for you to be involved in an accident. This will likely raise your insurance premium.
If you live in a high crime area, the risk for vandalism and auto theft is much greater. This also has the potential to raise your auto insurance premium.
Your credit history is also another factor that State Farm may consider when setting your auto insurance rate. Various factors in your credit can be predictive of excellent or poor driving performance.
Various factors in your credit can be predictive of excellent or poor driving performance.
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What payment options are available through State Farm?
State Farm auto insurance policies last for 6 months. You may pay your premium in a lump sum payment every 6 months when the policy renews. If you choose this option, you will avoid any additional fee and service charges.
Other options available for your convenience include monthly and quarterly installments. These installment payments can be deducted from your bank account automatically for your convenience.
There are also different billing options including paperless statements.
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