State Farm Home Insurance Review

Pros Explained

• Easy-to-access educational tools: If this is your first time purchasing home insurance, State Farm has a number of tools and resources to help you understand what you’re getting into, such as tips on creating a home inventory and an infographic explaining insurance jargon.
• Vast network of local agents: Chances are you’ll be able to find a local agent where you live. Each State Farm office is independently owned, and you can expect someone to take the time to answer your questions, go over details about coverage, and come up with a custom plan.

Cons Explained

• Not many discounts: When it comes to ways to lower your premium, State Farm doesn’t offer many options. These include a lowered cost on your home insurance premium if your home is made of certain materials or if you bundle your home insurance with State Farm’s auto insurance policy, but many other companies offer more opportunities for savings.

State Farm Standard Home Insurance Coverage Plan

To learn what a standard home insurance plan through State Farm entails, reach out to a local agent. In general, coverage and premiums can run the gamut based on a number of factors—the size of your property, where you live, history of claims, and what kind of coverage you need. That being said, here’s what you can expect with a State Farm standard home insurance plan:

Dwelling Coverage

This type of insurance covers the cost to repair or replace your home should it become damaged under a covered peril. This could include an act of vandalism or disaster that’s insured, such as a fire, hurricane, lightning, or hail. This usually includes attached structures such as garages and attached decks, as well as unattached structures such as garden sheds, fences, and gazebos. Depending on where you live, State Farm might include sewer drain coverage. This foots the bill should there be water damage to the structure of your home.

Personal Belongings

This includes anything that gets damaged or stolen during an insured hazard. It also usually covers belongings that are not stored in your home (i.e., in a storage facility). Valuables such as collector’s items, jewelry, and art might not be covered, depending on the policy. If they are covered, there might be lower limits than the total of your other personal belongings. 

Personal Liability

In the case of an injury or accident in your home that might have been caused by you, another household member, or a pet, personal liability coverage can handle any medical bills or legal fees.

Loss of Use

Should your home be uninhabitable due to a disaster or other insured peril, loss of use covers additional living expenses should you need to temporarily stay in a hotel or Airbnb. It also covers the bill for ordering out if you can’t use your kitchen. While there’s typically a cap on the amount of coverage, depending on where you live, State Farm’s standard policy includes unlimited loss of use for up to 12 months.

Premium Calculation

Premiums vary based on a lot of different factors. To figure out the cost of your premiums during the underwriting process, an insurance carrier usually factors in:

• Location
• Deductible
• Size and age of your home
• Condition of the roof
• How close you are to a fire station
• Installation of security devices
• Home maintenance systems
• If there’s a wood-burning stove, swimming pool, or hot tub on your property
• Cost of replacing your home

State Farm Home Insurance Discounts

You can save on your policy with these discounts:

Bundling insurance: Purchase both auto insurance and homeowners insurance through State Farm, and you’ll enjoy some savings.

Home security systems: Installing safety devices in your home can lower your premiums. This includes anything from an indoor fire sprinkler system, smoke or fire alarm, deadbolts, or a home monitoring system. Steps you take to keep your home and belongings safe can lead to savings on your premiums.

Roofing discounts: If you use certain impact-resistant roofing products, you might be eligible for a bump down in the cost of your policy. This discount is only available in some states: Alabama, Arkansas, Colorado, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Mississippi, Montana, North Dakota, Nebraska, New Mexico, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Wisconsin, and Wyoming.

Higher deductibles: While not technically a discount, having a higher deductible typically lowers the amount you pay out of pocket each month. A general guideline across insurance: the higher your deductible, the lower your premium. This might be a good option should you have enough to cover the deductible.

State Farm Home Insurance Availability

State Farm has agents available in all 50 states to help set you up with the right type of insurance. Coverage and restrictions may vary depending on where your home is located.

Umbrella Personal Liability Coverage Add-On

This add-on is available for various types of insurance policies offered through State Farm, and it tacks on additional personal liability coverage, which starts at $1 million and can be added at $1 million increments. It’ll cover any financial hits from personal claims such as slander, libel, or defamation of character. How it’s different from standard personal liability is that it can also cover incidents connected to your car or boat.

State Farm Customer Service

As State Farm has a vast network of independent contractor service agents in all 50 states, you should be able to reach a local agent to help answer your questions about purchasing a homeowners insurance policy.

If you have a pressing matter that requires urgent handling, you can contact your service agent directly. State Farm’s website will redirect you. To file or manage a claim or pay insurance, you can use either the online portal or the State Farm app in addition to calling an agent.

According to J.D. Power's 2022 U.S. Home Insurance Study, State Farm scored above the industry average for overall customer satisfaction.

How to Make a Home Insurance Claim With State Farm 

You can file a home insurance claim with State Farm through its app, online, or with a representative. If you need to file a claim, the steps you’ll need to take are pretty standard:

1. Reach out to State Farm via the app, phone, or email.
2. Describe what happened.
3. Wait for the claim to be reviewed and the damage assessed.
4. Provide any additional details to a claims adjustor and learn what will happen next.
5. Look over the estimate and give the green light to move forward with repairs.
6. Listen to an agent go over any other details about your claim.
7. You or your lender will receive payment.
8. Hold on to receipts for expenses related to the repair.

State Farm Home Insurance Cancellation Policy

You can cancel a policy by contacting your State Farm agent. You can do so either over the phone, by mail, or by meeting with your agent in person.

Other Insurance Provided by State Farm

There is no shortage of insurance policies you can purchase through State Farm:

• Car insurance
• Motorcycle insurance
• Boat insurance
• Off-road vehicle insurance
• Motorhome insurance 
• Condo insurance
• Renters insurance 
• Manufactured home insurance 
• Farm or ranch insurance 
• Rental property insurance 
• Personal articles insurance 
• Life insurance 
• Health and disability insurance 

Get a State Farm Homeowners Insurance Quote

You can get a homeowners insurance quote in a number of ways: by speaking directly to an agent, online, or by calling State Farm's customer service team. The 360Value Online Estimating Tool makes it easy to get a quote online, and you don't need to be a policyholder to access these tools.

Here’s what you’ll need on hand when getting a quote online:

• Your personal information
• Location of the property
• Start date of coverage
• Email address
• Number of people in your household
• If any business is conducted on the premises
• If the home is occupied year-round or seasonally
• Coverage amount
• Details about your home
• Safety features
• Additional protections for your home

Final Verdict

If you're a first-time homebuyer, State Farm's online tools and network of 19,200 agents will help you get the answers you need and explore your options for coverage. While State Farm offers a more personalized experience for its potential policyholders, there aren't a lot of ways to snag a discount. So if you're looking to save on your insurance, you may want to consider some other options.

Frequently Asked Questions

Is State Farm Good at Paying Home Claims?

Yes, State Farm can be trusted to pay its home claims. State Farm has received a financial health rating of A++ from AM Best, which means it has a superior ability to fulfill its financial obligations.

Does State Farm Have a Good Reputation?

Yes, State Farm has a good reputation. It holds an A+ rating from the Better Business Bureau.

Does State Farm Raise Rates After a Claim?

Yes, you can expect your homeowners insurance rate to increase by a few percentage points after a claim, though the exact amount will depend on the claim's type and size, as well as your overall claims history.

Why Did State Farm Homeowners Insurance Go Up?

Insurance companies across the country have been increasing their homeowners insurance rates to account for the billions of dollars in losses they've suffered due to surging inflation and worsening climate disasters. However, your State Farm homeowners insurance could also increase as your home ages and starts to require more substantial repairs.

Does State Farm Homeowners Insurance Cover Slab Leaks?

No, State Farm does not cover slab leaks that are caused by age or normal wear and tear.

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of homeowners insurance providers. We reviewed each insurance provider's coverage options, available discounts, customer service, and satisfaction. We compared these options among top-rated carriers to determine what was industry standard and what was service above and beyond.