Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Jun 22, 2020

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Here's what you need to know...

  • State Farm offers many discounts
  • The company was founded almost 100 years ago
  • They have a large network of subsidiaries


State Farm insurance is probably one of the most well-known car insurance providers in the nation. There are many different car insurance discounts that State Farm offers to its policyholders, including:

  • a multiple vehicle discount
  • an accident free discount
  • a multiple line discount
  • a defensive driving discount
  • a good driving discount
  • an anti-theft discount
  • a good student discount

To compare the car insurance rates of State Farm to other great car insurance providers where you live, use our free tool. Just type in your ZIP above now!

Go to A.M. Best’s website after choosing the car insurance company you want to see how that company is financially rated. The A. M. Best Company is one of the most respected insurance rating companies in the world.

Table of Contents

What is the history of State Farm insurance?

George Mecherle was a retired farmer when he founded State Farm in 1922. The company began as a mutual car insurance company, which means that the company was technically owned by the policyholders.

While, in the beginning, State Farm focused mainly on car insurance, the company quickly branched out into other insurance options such as life insurance and home insurance, and multiple financial and banking services.

Most people recognize State Farm from the jingle in the company’s commercials “Like a good neighbor, State Farm is there.”

What most people might not realize is that this jingle was written in 1971 by the famous singer/songwriter, Barry Manilow.

State Farm insurance writes a good portion of its annual insurance through a large network of subsidiaries. The State Farm subsidiary companies are:

  • State Farm Life Insurance Company
  • State Farm Fire and Casualty Company
  • State Farm Life and Accident Assurance Company
  • State Farm Mutual Insurance Company of Texas
  • State Farm County Mutual Insurance Company of Texas
  • State Farm General Insurance Company
  • State Farm Indemnity Company
  • State Farm Florida Company
  • State Farm Guaranty Insurance Company
  • State Farm Bank
  • State Farm Lloyds
  • State Farm VP Management Corporation
  • State Farm Investment Management Corporation

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What other insurance coverage options does State Farm offer?

State Farm offers a lot more than car insurance. The other types of insurance offered by State Farm include:

  • homeowners insurance
  • condo insurance
  • life insurance
  • renters insurance
  • annuities
  • disability insurance
  • health insurance
  • business insurance
  • boat insurance
  • long-term care insurance
  • flood insurance
  • farm and ranch insurance
  • personal liability umbrella insurance
  • motorcycle insurance
  • insurance for community organizations

There are three different coverage options for the State Farm farm and ranch insurance. There is a farm and ranch homeowner policy for someone that owns and lives on their farm.

There is a farm and ranch property policy for someone that owns a farm but does not live on the premises of the farm. Lastly, there is a farm and ranch renter policy for someone that lives on a farm that they rent instead of own.

There are many losses that are covered under all of the State Farm farm and ranch insurance policies. Some of the losses for property that are insured under these policies include:

  • windstorms
  • lightning
  • hail
  • fire
  • smoke
  • theft
  • vandalism
  • collision
  • malicious mischief
  • vehicles
  • explosions
  • riots
  • aircraft

There are also multiple losses covered when it comes to the farm’s livestock, which includes accidental drowning, electrocution, accidental shooting, and, except for sheep, attack by dogs or other wild animals.

What are the car insurance discounts available through State Farm?

There are more than a few car insurance discounts available through State Farm. These discounts include:

  • a multiple vehicle discount
  • a multiple line discount
  • an accident free discount
  • a new vehicle safety discount
  • a defensive driving discount
  • an anti-theft device discount
  • a good student discount
  • a good driving discount
  • a driver training discount
  • a drive safe and save discount

A multiple vehicle discount is offered to a policyholder that has more than one car insurance with State Farm, while the multiple line discount is offered to those that have more than one insurance policy with the company.

The accident-free discount is offered to the safest drivers. A policyholder with a new car or a car with advanced safety features is eligible for many different discounts.

The defensive driving discount and driver training discount are offered to people that have attended and passed one of these special driving classes.

The good student discount is offered to young policyholders that are college students who earn good grades.

To see how the rates of other car insurance companies stack up to State Farm, compare car insurance rates now. Just enter your ZIP below!

References:

  1. http://www.statefarm.com
  2. http://www.cbsnews.com/news/are-you-missing-out-on-car-insurance-discounts/
  3. http://www.ambest.com
  4. http://www.rmiia.org/catastrophes_and_statistics/Hail.asp
  5. http://www.consumerreports.org/cro/2012/04/guide-to-safety-features/index.htm