This is an American group of companies that offers financial and insurance services. Its primary business is known as State Farm Mutual Automobile Insurance Company that also owns other State Farm companies. Its headquarters are located in Bloomington, Illinois. Regarding revenue, State Farm Insurance is ranked 44th in America. It, however, sold its operations to Desjardins Group, which decided to retain the State Farm name.
It was formed in 1922 by George Mecherele, a retired farmer. It was an automobile company that specialized in auto insurance for farmers. As it progressed, it expanded its activities to other forms of insurance such as life insurance, homeowners insurance as well as financial and banking services. Its first logo was created around the 1940s. It has however undergone tremendous changes to fit in today’s digital world. Its current CEO is known, Michael Tipsord. As noted earlier, State Farm offers insurance, banking, and financial services.
Some of the insurance covers offered by this company include; auto, home, and life.
State Farm covers various liabilities that fall under car insurance. This includes liability coverage where it will pay for any damages to another person’s property that you are liable. Examples include medical expense, bodily injury, and lost wages. There are different levels of coverage depending on how much you can afford. Higher limits lead to higher protection. Another one is medical payments coverage where you insure against any medical bills incurred while driving. State Farm will be responsible to settle all medical bills. Others include emergency road service, comprehensive coverage, and collision coverage.
Many people prefer buying homeowners insurance from State Farm since it comes with the best rates as well as an assurance that you will be indemnified. Home insurance covers the following; theft, vandalism, fire or lightning, aircraft, riot, home accidents, falling objects among others. It, however, doesn’t cover business pursuits and bodily injury. Apart from the ordinary home, it also insures other types of housing. This includes farm and ranch insurance, renters insurance and manufactured home insurance.
Health and life insurance
State Farm Mutual Automobile Insurance offers various forms of health insurance. This includes individual medical coverage which is for individuals not covered by their employers. Medicare Part D and Medicare Supplement Insurance are other types of health insurance.
Among financial services offered by State, Farm Group include loans, banking services, education savings plan, retirement benefits and small business finances.
Contacting State Farm is quite easy through their numerous agents found in Canada and United States. In Canada, you can find agents in Ontario, New Brunswick, and Alberta.