- State Farm Homeowners Insurance Discounts
- State Farm Home Insurance Review
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State Farm Homeowners Insurance Discounts
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Our experts answer readers’ insurance questions and write unbiased product reviews (here’s how we rate insurance products). In some cases, we receive commissions from our partners. However, our opinions are our own.
State Farm insurance is sold exclusively by captive agents, limiting options for comparing rates. However, State Farm agents are extensively trained to quote State Farm policies with all applicable discounts, especially if you choose to bundle your insurance coverage. State Farm offers coverage for most homes.
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Bottom line: State Farm insurance is sold exclusively by captive agents, limiting options for comparing rates. However, State Farm agents are extensively trained to quote State Farm policies with all applicable discounts, especially if you choose to bundle your insurance coverage. State Farm offers coverage for most homes.
Founded in 1922, State Farm has long been a household name in the insurance industry. The company’s insurance products, including the State Farm Homeowners Insurance Plan, are available nationwide (except in California, where the insurer has just stopped offering new coverage) and have earned a reliable reputation among consumers.
All State Farm products are sold through “captive” agents, meaning a State Farm agent can only run quotes on State Farm products. However, each agent receives special training to ensure you always get all available discounts and the most competitive rates.
It’s important to note that State Farm customers can shop for homeowners insurance plans for a variety of living situations and types of homes, including single-family residences, condos, two- to four-unit buildings, rentals. properties, manufactured homes, and farms and ranches. However, at the time of this review, we were advised that State Farm cannot insure buildings with more than four units.
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State Farm policies include standard coverages such as residence coverage, personal property, and personal liability. Many of the riders below are also extremely affordable, charging just $3 for 12 months to include water backup coverage with a condo quote. On the other hand, a single water backup incident can easily cost a homeowner $10,000, all of which can be covered by a $3 rider. In addition, the quotes we receive on a single-family residence include water backup coverage for a minimum of $20 per 12-month period.
Remember that each policy will have different coverages, exclusions, availability, and claim limits. Be sure to talk to a State Farm agent about the details before choosing a policy.
The cost of homeowners insurance with State Farm can vary widely. The company’s request for quotation requests details about you, your property and your goods.
To give you a better understanding of what to expect, you can expect answers to these questions when you submit a quote request online or over the phone:
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A State Farm agent can help you answer all of these questions. Things like your name and date of birth are easy for most buyers. A state farm agent has tools to look at things like distance from a fire station or fire hydrant. Agents can also provide personal property appraisals on homes like yours.
Your State Farm agent can help you with the claims process anytime in person, over the phone, or otherwise. State Farm’s personalized touch is beneficial for less tech-savvy parties. If you file claims online, you will select the type of insurance claim you are filing and log into your account.
Next, you will be asked to provide the following information and any photos of the damage in its claim form.
The types of coverage offered by State Farm and Progressive seem reasonably similar. For example, both companies cover housing, other structures, personal property, loss of use, personal liability, and medical payments.
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That said, Progressive only offers two homeowners insurance riders: water backup damage and personal injury. State Farm’s available riders are much broader, meaning if you’re looking for more comprehensive coverage, you’ll likely be better suited with a State Farm policy. However, Progressive’s reference options may be more convenient.
Progressive policies can be purchased online or through a broker agent who will quote a variety of homeowners policies to help you compare companies. State Farm can only refer to State Farm agents, who in turn can only refer to State Farm. If you don’t like a quote, a progressive agent can do all the work for you instead of starting a new application.
Again, State Farm’s basic policy is similar to lemonade coverage. A state farm could run quotes without additional riders, but they are unlikely simply because each rider comes at a lower price for a larger benefit. Added riders are negligible, offering competitive rates for $3-$20 per 12-month policy for water backup coverage.
However, Lemonade misses a few riders offered by State Farm, such as its identity theft protection and water backup damage riders. Lemonade also relies primarily on online coverage. So elderly or less tech-savvy consumers may need help managing policies and getting quotes with Lemonade.
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Availability also varies. At the time of this review, Lemonade homeowners insurance is available in 35 states and the District of Columbia, while State Farm policies are available nationwide. Consumers may not always get the best coverage with Lemonade due to the need for more personal assistance.
Often, consumers looking to cut costs can stick to basic coverage with Lemonade, while a State Farm agent can answer questions and advise why you might want to reconsider some choices. That said, Lemonade can also provide more competitive pricing.
Allstate offers many important personal insurance products, including homeowners insurance. It leads the market in discounts, but its base rates may not be as competitive as State Farm and other major competitors.
From our research, Allstate and State Farm rely on captive agents to quote insurance policies. So you get personal contact from a company-trained agent who runs a cost estimate, adds riders, and explains some options to you. Allstate’s basic homeowners insurance policy can be more limited than State Farm’s. If you have a tight budget, agents can also find ways to stay within that budget without skimping on essential coverage.
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That said, Allstate does provide some optional coverage riders that aren’t available through State Farm. For example, Allstate offers sports equipment and music equipment protection and another add-on for electronic data recovery.
In some states, we have also received reports of State Farm being more flexible in underwriting than Allstate. Of course, this can vary from state to state and in individual cases, as each company weighs the same factors differently. For example, one company may penalize a customer for a single claim, while others may be more concerned about bundling policies and type of structure. Neither company offers alternatives, as agents can only refer for that company.
When reviewing State Farm Homeowners Insurance, we compared it to other popular homeowners insurance providers. To do this, we reviewed standard coverages, including available riders, claim limits, exclusions, and general policy costs.
Ultimately, choosing the best policy for you and anyone else in your household comes down to choosing a policy that offers the right type of coverage and provides enough coverage. Many homeowners also consider more personal factors. For example, if you know a trusted insurance agent, you may be more inclined to bundle all of your services. Many people also look at the insurance carrier chosen by their parents.
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Ideally, you should ensure that the premium fits well into your budget and that the company allows you to submit a claim quickly with adequate coverage. You can read more about our insurance rating process here.
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