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Company Overview: A Century of Strength
State Farm is the largest auto insurer in the United States — and it's not particularly close. Founded in 1922 as State Farm Mutual Automobile Insurance Company, it has grown over 103 years into a financial giant with a net worth of $170 billion, total revenue of $132.3 billion, and over 49 million insured vehicles as of 2025. The company is structured as a mutual insurer, meaning policyholders — not shareholders — are at the center of its financial model. In 2025, State Farm delivered a record $5 billion dividend to auto policyholders and reduced auto premiums by an average of 10% across 40 states, saving customers $4.6 billion in annual premium costs.
What separates State Farm from purely digital competitors is its agent network. With over 19,000 local agents operating from approximately 18,000+ offices across the country, State Farm brings a human touch that digital-first insurers like GEICO simply can't match. Each agent is a local expert who helps customers navigate coverage decisions, process claims, and bundle policies — something that's especially valuable for families, seniors, and first-time buyers.
| Company Metric | 2025 Value |
|---|---|
| Net Worth | $170 billion |
| Total Revenue | $132.3 billion |
| Auto Underwriting Profit | $4.6 billion |
| Net Income | $12.9 billion |
| Number of Local Agents | 19,000+ |
| Insured Vehicles | 49 million+ |
For a full picture of how State Farm stacks up against the field, see our guide to the best car insurance companies of 2026.
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Coverage Options, Discounts & Savings
What State Farm Covers
State Farm offers a comprehensive suite of auto insurance coverages that can be customized to your situation and budget:
- Liability Coverage – Pays for bodily injury and property damage you cause to others
- Collision Coverage – Covers your vehicle after a crash, regardless of fault
- Comprehensive Coverage – Protects against theft, fire, vandalism, and natural disasters
- Uninsured/Underinsured Motorist – Covers your losses if hit by a driver with little or no insurance
- Medical Payments (MedPay) – Pays medical bills for you and passengers regardless of fault
- Rideshare Driver Coverage – Extends your personal policy while driving for Uber or Lyft
- Emergency Road Service – Towing, flat tire, fuel delivery, and lockout assistance
- Rental Car Reimbursement – Pays for a rental while your car is being repaired
Drive Safe & Save: Telematics That Pays Off
State Farm's Drive Safe & Save program is one of the most rewarding telematics programs in the industry. It works entirely through a smartphone app — no plug-in device required. After downloading the app and enrolling, your driving is tracked across metrics like speed, hard braking, phone distraction, and time of day.
Drivers can earn up to 30% off their premium based on their performance score. Most drivers save in the 10–20% range, and there's no penalty for lower scores — you can only save, never pay more.
| Driving Behavior Tracked | Impact on Discount |
|---|---|
| Smooth acceleration & braking | Positive |
| Phone usage while driving | Negative |
| Night driving frequency | Moderate impact |
| Miles driven | Lower mileage = bigger savings |
| Speeding | Negative |
Note: Drive Safe & Save is available in most states but not in California, Massachusetts, or Rhode Island.
Discount Lineup
State Farm's discount ecosystem is broad and stackable:
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Rates, Ratings & How State Farm Compares
Average Rates in 2026
State Farm's average annual premium for full coverage in 2026 is approximately $2,030 — meaningfully below the national average of $2,356. For minimum liability coverage, drivers can expect around $650 per year. New customers switching to State Farm report an average savings of $740 annually.
Head-to-Head Comparison
State Farm ranks #1 cheapest in 29 states, making it competitive for a wide swath of American drivers. Want to see how Progressive's Snapshot program stacks up to Drive Safe & Save? Check out our Progressive car insurance review. You can also read our in-depth GEICO car insurance review for a detailed comparison of rates and coverage.
Customer Satisfaction & Ratings
| Rating Source | State Farm Score | Industry Benchmark |
|---|---|---|
| J.D. Power Auto Insurance Study (2025) | 650 / 1,000 | 644 / 1,000 (avg.) |
| J.D. Power Auto Claims Satisfaction (2024) | 710 / 1,000 | 697 / 1,000 (avg.) |
| AM Best Financial Strength | A+ (Superior) | — |
| NAIC Auto Complaint Index | 0.84 | 1.00 (avg.) |
| BBB Rating | A+ | — |
State Farm ranks in the top three carriers in six of eleven regions in J.D. Power's 2025 auto insurance study, outperforming both Progressive and GEICO in overall satisfaction. Its NAIC auto complaint index of 0.84 means it receives 16% fewer complaints than expected for its market size — a strong showing.
For a broader ratings comparison across all top insurers, visit our car insurance company ratings guide.
Claims Process, Mobile App & Who Should Choose State Farm
How the Claims Process Works
State Farm's claims experience is designed for speed and accessibility. Customers can file auto claims through the mobile app, online at statefarm.com, or by calling 1-800-SF-CLAIM (800-732-5246). Here's the typical flow:
- Report the accident with photos, a police report (if applicable), and details
- Review — State Farm evaluates the claim against your policy
- Estimate — Use the app's Photo Estimate tool for minor damage (turnaround ~48 hours), or schedule an inspection at a Select Service repair shop
- Settlement — Receive payment via direct deposit, minus your deductible
- Track — Monitor every step through the app with real-time notifications
State Farm's Select Service shops provide lifetime repair warranties, adding an extra layer of protection. For straightforward claims, the typical resolution time is around 30 days.
Mobile App Features
State Farm's mobile app is a top performer in the insurance space, offering:
- File and track claims from any device
- Photo Estimate tool for minor collision damage
- Access policy documents and ID cards
- Manage Drive Safe & Save performance and score
- Find repair shops and rental car locations
- Direct deposit claim payment setup
- 24/7 virtual assistant support
Who Benefits Most From State Farm?
State Farm is a strong fit for specific types of drivers. Here's a quick breakdown:
| Customer Type | Why State Farm Works |
|---|---|
| Local agent preferences | 19,000+ agents for in-person service |
| Multi-policy bundlers | Discounts for combining auto, home, and life |
| Young/student drivers | Good Student + Steer Clear discounts |
| Safe, low-mileage drivers | Drive Safe & Save up to 30% off |
| Rideshare drivers | Dedicated Uber/Lyft coverage |
| Families with multiple vehicles | Multi-car household policies |
Frequently Asked Questions
Is State Farm a good insurance company?
Yes — by most objective measures, State Farm is one of the best car insurance companies in the U.S. It holds an A+ rating from AM Best, ranks above the industry average in J.D. Power satisfaction studies, and has an NAIC complaint index of 0.84, meaning it receives fewer complaints than its size would suggest. Its $170 billion net worth and record 2025 financial results also point to exceptional financial stability.
How much does State Farm car insurance cost in 2026?
State Farm's average full coverage premium in 2026 is approximately $2,030 per year, which is well below the national average of $2,356. Minimum liability coverage averages around $650 annually. Rates vary based on your driving history, location, vehicle, age, and coverage selections — and drivers who enroll in Drive Safe & Save can reduce their premium by up to 30%.
How does State Farm's Drive Safe & Save program work?
Drive Safe & Save is a telematics program that tracks your driving habits through a smartphone app. It monitors behaviors like hard braking, speeding, phone usage, and mileage to generate a driving score. Safe drivers can earn up to 30% off their premium, and there is no penalty for low scores — meaning it can only help, never hurt your rate. The program is available in most states except California, Massachusetts, and Rhode Island.
How does State Farm compare to GEICO and Progressive?
State Farm generally offers more competitive rates than Allstate and comparable pricing to GEICO and Progressive. Where State Farm truly stands out is in its local agent network and customer satisfaction scores — it outranks both GEICO and Progressive in J.D. Power's 2025 auto insurance study. GEICO tends to offer the lowest base rates for good drivers, while Progressive is a better choice for high-risk drivers. State Farm is the best option if in-person service and bundling discounts matter to you.
What discounts does State Farm offer on car insurance?
State Farm offers a wide range of discounts including Drive Safe & Save (up to 30%), Good Student (up to 25%), Steer Clear for young drivers, multi-policy bundling, passive restraint/airbag discounts, anti-theft device discounts, defensive driving course discounts, and student-away-at-school savings. Many of these discounts can be stacked, making State Farm particularly rewarding for households that qualify for multiple programs. Availability varies by state, so check with a local agent to maximize your savings.