State of farm insurance beginnings
 |
| State farm |
State farm insurance began in 1922, with the invention of George J. Mecherle. Mecherle thought he could come up with a better insurance company than others, offering better coverage and great rates.
So he did. Something about Mecherle's vision was right—more than eighty years later, the State Agricultural Insurance Company is still going strong.
State of farm insurance, today
With 25 operations centers in 13 zones, State Farm currently employs 79,200 people, including more than 16,700 agents. State Farm services 71.6 million insurance policies in the United States and Canada.
The state farm has won many awards for equal opportunities in the use of methods and for the number of jobs the company has created.
State Farm strives to give back to the community, participating in many continuing education and safety programs, including grants and scholarships.
The future of the state of farm insurance
We will continue to be a leader in insurance and become a leader in financial services. Our customers' needs will determine our path. Our values will guide us."
- State Farm website, May 2006
What does the state farm offer?
They offer most types of insurance. All the usual suspects in auto, home, life, renter's, and supplemental health insurance are available through State Farm. Other insurance offerings include condos, long-term care, and Medicare supplement.
The State Farm website is very easy to use. Using the website, consumers can get a quote on any policy listed above or find a representative, both within minutes. Answering a few quick questions will lead you to a free online quote, and the search function makes it easy to find an agent.
You can also contact State Farm agents through online insurance quote websites. This gives you the ability to compare prices from State Farm and from other independent agents or companies. Check the relevant page for companies that will provide a quote.
"State Farm's mission is to help people manage the risks of everyday life, recover from the unexpected and realize their dreams."- State Farm website, May 2006
Other services
Not only does State Farm provide you with quality insurance, but the website contains a wealth of tools and information.
A helpful learning center exists online for anyone interested in learning more about retirement planning, college planning, savings strategies, prevention, and security, or life stages like having a baby, getting married, or buying a home.
There's even a "kids stuff" section. Consumers can learn about the reasons to have car insurance, what insurance policies do for you, and what they can mean in your life.
Confidence
State Farm is one of the oldest names in the insurance industry, and it's a name you can trust. If State Farm didn't provide excellent customer service and satisfaction, there is no way it would still be going strong.
It is often much cheaper to buy all your insurance plans through one carrier than through several different companies. State Farm can handle all your insurance needs without breaking the bank. Isn't it better to use a company you can rely on?
In 1999, Robert co-founded Insurance4USA.com, a quote shopping service.
He has been a licensed insurance agent in New York State since 1990.
Why is state estate insurance so cheap?
.png "State of farm insurance") |
| state farm |
I have had quotes from state farm in the past. I usually give weight to the price. I have never purchased a state estate policy.
Now prices can only be low for a few reasons. I'll give you a few. Carrier writes better and more profitable customers. Carrier is very tight in its underwriting. Carrier is cautious and conservative in paying receivables.
Carrier has lower costs … lower commissions, provides less training, better automation, provides a better customer experience, and reduces turnover. The carrier is willing to accept a higher loss ratio to sell more profitable products (life insurance). Carrier earns a large profit on investments. Carrier offers credits for new stores to replenish at a later date.
Acquiring customers is cheaper because reputation requires less advertising. The lower price is an illusion … the rates are lower, but the carrier requires a higher insurance value (homeowners). Low rates for no-accident, but will shoot more than an accident when the insured is least able to drive away.
What experience do you have with State Farm insurance?
Prosaic. Ordinary.
I used State Farm coverage on the home I bought because it was convenient. You can't swing a dead cat around your head without hitting a State Farm agent somewhere.
I knew what I needed because I had been in the insurance business as an agent for several decades. So I called the agent and gave her the specs: 20-year-old single-story home, 1500 square feet with finished basement, 100 amp service, wiring to code, roof replaced 5 years ago, heat pump, no pets, no pool, 2 acres of land, conservation class 9, 7 miles from the volunteer fire department, no alarm system, deadbolts on doors, 1 and 1/2 baths, 2 bedrooms, office, dining room, wood stove, well and septic tank, underground utilities, detached garage, walk out to basement, estimated replacement cost $200,000, contents coverage down 40%, deductible $1,000, Section II at $1M or as high as you can get it, the lien is BB&T with mortgage #XXXXXX, I'm the only one by the user, a credit score above 800, SSN is ###-##-####, one previous property loss more than 5 years ago at the previous house; amount paid about $5,000, the damage was due to burst pipe and collapse, no criminal record, no commercial business with property, retired, no employees, no part of premises for rent…
And while I was reciting all this, I could hear him writing in the background.
Finally, I asked what else she might need.
And she said, "That's it."
Three months later, after I was settled, I set up an account with another company and canceled the state farm short rate.
That was it.
Why has my state property insurance increased?
I would recommend calling State Farm. Insurance can increase for many reasons, such as changing market conditions or personal driving issues such as accidents or traffic violations.
What are some criticisms of government property insurance?
Rather than dwelling on looking for specific companies to criticize, you can change your personal worldview by asking yourself, "Where does State Farm shine among its competitors." If you find that your area of interest does not fall into this list of virtues, it may be a weakness.
I have a lot of respect for the State Farm Insurance Company. They have specific coverage areas where they excel. They also have value packages that will appeal to people who aren't looking for top-of-the-line coverage or the best product for each of their needs. Some people will appreciate the package deal. For some it is a virtue, for others, it is a point of criticism.
people of my generation don't place a lot of value on asking complete strangers to talk about society. Good luck with searching.
What is the difference between State Farm insurance and its competitors?
State Farm takes a very holistic view of insurance. While auto insurance is very cut and dry, State Farm offers a homeowners policy that is better than its competitors due to some contract language about roof and siding coverage (I've also heard this many times from a contractor working on a catastrophic loss in our area.)
The homeowner's contract also has coverage that allows a certain percentage over and above the A coverage in case the house needs to be rebuilt and the A coverage isn't quite enough for the same or similar construction.
Also to offer great claims coverage in their policy, they take a need-based approach to insurance. They will examine what is at risk to your assets (both physical and financial) and then design a comprehensive insurance package that covers your most important assets, but fits your budget!
There's a reason State Farm is the largest property/casualty insurer in the United States. They wouldn't have gotten there, or continued to grow, if they hadn't provided superior contracts, fast and fair claims handling, and amazing customer service.
***DISCLAIMER: This answer is from my previous experience in the state of MN (coverage may vary by state.) I am also no longer employed by State Farm. I was a client before I started working and I am still a client. This answer comes from 70% personal experience and 30% experience as an employee and licensed insurance producer in the state of MN.***
What are the unique benefits of state estate insurance?
Wow, hard question to answer. State Farm is a diversified financial services firm that offers a broad but inconsistent book to 24% of the US population in the form of credit cards, homeowner ins, some health products, and 73 other products.
At the Macro level, I have to start with its size. In auto insurance alone, it is larger than its next 3 competitors combined. This gives them the opportunity to spread their fixed costs among regular customers, which is the most accurate pricing model. Note that the exact price per risk is not the same as the best price per risk.
They are unique in writing their own policies, not using standard ACCORD forms for most of their policies and/or recommendations.
Their approach to underwriting and certain receivables is not the same as "all" other companies. I'm not saying they are better, they say.
They grow. They didn't buy smaller insurance companies to try to get bigger ones. If they want the market, they will take it over.
Another innovation that may not be seen as a benefit is that it is not a "stock" company or a private company, which is not the same as saying it is not profitable. At its roots, it's called a mutual society, which some interpret as member-driven, but that's not true either. It has many stakeholders.
If your question is more on a micro level, I would argue that the uniqueness is within the direct/agent delivery system. As with similar product delivery systems, there is uniqueness in what each individual office delivers and services the product. No two agents are the same, but there are similarities. So somewhere in this statement, I am trying to say that you will have a unique experience in providing and servicing each policyholder.
Is state estate insurance available?
 |
| state farm |
Getting an answer here on Quora won't help you. While it may be affordable for someone else, it may not be affordable for you, OR, someone else may find it unaffordable while you may find it very affordable.
There is ONLY 1 way to find out and that is to call a State Farm agent and get a quote for the type of insurance you need.
About Joe Atern's answer that you can be your own insurance agent, the same rule applies as when a lawyer represents himself in a major lawsuit in court, i.e. he has a FOOL for his lawyer. In this case, since you know very little about insurance and are acting as your own insurance agent, you would have a Fool as your insurance agent.
The problem comes from what people DON'T know about insurance and a licensed professional knows it could get you in trouble.
Does Aaron Rodgers Have state estate insurance?
It's provided for free as part of his endorsement compensation package. Or required as part of the agreement.
Not sure why he wouldn't, it's a good insurance policy. Another answer suggested he might have other insurance, but I'm not sure why. He has very high limits and has an umbrella policy to cover, as most people with high incomes or wealth would. And State Farm sells umbrella policies.
The bigger question may be, does Shaq actually use The General for his auto insurance? It also can and has an umbrella policy.
Should the state estate insurance burn forever?
I switched my home insurance to SF a few years ago after being with another company for 15 years and never making a claim. 3 weeks after I changed my policy I had significant storm damage to my home.
State Farm sent their adjuster and he left a big check in my mailbox for full compensation. They will never get my claim back, but they still have one very happy customer!
Do you think state estate insurance is covered?
No. There is no such thing as "full cover" insurance through State Farm or any other company.
This term is used in the auto insurance industry. "Full coverage" usually means that the covered car has physical damage, or comprehensive collision coverage, also to basic auto liability. If that's what you have in mind, then State Farm and all other private auto insurers offer physical damage coverage.
It's a problematic term because it gives people the impression that they're included anyway. ALL policies, from property and casualty to life and health, have certain limitations, conditions, and exclusions. There is no policy that covers everything, and even if there was, you couldn't afford it.
0 Comments