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State Farm Renters Insurance Review

Reviewed
April 2015
by ConsumerSearch
State Farm Insurance

Best renters insurance company

Pros
  • Wide variety of plans
  • Thousands of local agents
  • Thorough online quote tool
Cons
  • Quality of agents can vary
  • Satisfaction is higher with rental insurance than homeowners insurance

Bottom line

As one of the largest home insurers in the nation, State Farm offers a policy for almost everyone, reviewers say. The company wins praise for helpful local agents and an extensive website that can give both homeowners and renters accurate quotes. The company gets average marks for its handling of homeowner claims, but does a better job in that regard when it comes to renters. Similarly, while customers aren't that impressed with the premiums for its homeowners products, its renters insurance scores highly for value.

Breaking it down

Claims

Good reviews for renters claims performance. For homeowners, State Farm performs decently in its homeowners claims performance -- scoring average to above average in that regard in most surveys and reviews. Things are better still when it comes to renters insurance, however -- and it earns the top score in claims performance in the large J.D. Power and Associates survey of rental insurance satisfaction. Payments are generally prompt, too, reviewers say. However, in another such survey, State Farm receives average marks for all parts of the claims process, including service provided by agents, estimates, repairs and settlements. Coverage is available nationwide.

Policies

Flexible service and policy options. State Farm generally gets good marks for customer service. Customers have the flexibility of doing business directly with the company or with a local agent, though a few note that a bad agent can quickly sour the State Farm experience. Policyholders can contact the company online or over the phone, 24 hours a day. Expert reviewers say coverage options and add-ons are extensive, but the company lacks a few common homeowner discounts. A thorough online quote tool garners praise for both homeowners and renters. Policy pricing for renters rates top notch, but premiums for homeowners insurance aren't as warmly received.

Where To Buy

State Farm Reviews

1. J.D. Power & Associates

In this national survey, which focuses solely on renters insurance, State Farm finishes a single point behind the category leader (Geico). It earns the highest overall satisfaction rating, and is top notch when it comes to price, interaction with the company's agents and representatives, and the claims process.

Review: 2014 U.S. Household Insurance Study-Renters Insurance, Editors of J.D. Power and Associates, Sept. 18, 2014

2. ConsumerReports.org

State Farm is among the 14 homeowners insurance companies rated and ranked by the staff of ConsumerReports.org. The survey is based on a large number of responses (over 90,000) from those who filed insurance claims and includes feedback on the claims experience (including timely payment), premium and agent "courtesy."

Review: Homeowners Insurance Ratings, Editors of ConsumerReports.org, Not dated

3. J.D. Power & Associates

State Farm receives 3 circles out of 5, an average score, for overall customer satisfaction in these nationwide homeowners insurance claim rankings. It receives 3 circles for most subcategories, including first notice of loss, estimation process, repair process and settlement, but a little bit better on interactions with the company. However, these ratings apply to home owners insurance; as noted above, State Farm earns a top rating in a J.D. Power and Associates survey on just renters insurance when it comes to claims performance.

Review: 2015 US Property Insurance Claims Study, Editors of J.D. Power and Associates, March 2, 2015

4. Reviews.com

State Farm earns 4 out of 5 stars in rankings of major home insurers, earning praise for its thorough online quotes and wide range of coverage options. However, Fletcher Wilson says it lacks some common discounts and doesn't offer landslide coverage.

Review: State Farm Review, Fletcher Wilson, Mar. 9, 2015

5. Reviews.com

Here, Wilson says that State Farm's rates for rental insurance were consistently lower than other carriers in the states that were sampled. He also praises the comprehensive, easy-to-use online quote tool. He also likes the range of online resources and 24-hour claims center. A lack of certain discounts doesn't affect renters, he says.

Review: The 4 Best Renters Insurance Companies, Fletcher Wilson, Not Dated

6. Insure.com

State Farm receives 5 stars overall and a People's Choice award at Insure.com's Customer Satisfaction Ratings. It also earns 5 stars in claims processing and 4.5 in customer service. About 95 percent of customers say they will renew their policies.

Review: Best Insurance Companies: Customer Satisfaction Ratings for 2014, Editors of Insure.com, Not Dated

7. TopTenReviews.com

State Farm earns the 2015 Gold Award and the 2015 Excellence Award among renters insurance carriers in this comparative round up. It's wide range of products, good customer support and robust online tools are what push the company to the top. It also scores similarly well when it comes to homeowners insurance.

Review: State Farm, Pamela S. Stevens, Not Dated

8. Viewpoints.com

State Farm earns 4 stars based on nearly 1,000 reviews. While most reviewers praise State Farm for service, some customers say they had poor experiences with claims or complain about either being dropped or suffering large premium increases. However, ratings also include home and life insurance.

Review: State Farm Reviews, Contributors to Viewpoints.com, As of April 2015

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