History: State Farm
State Farm is a group of financial and insurance services providing companies based in United States and also operating in Canada. Since it’s founded in 1922 by the visionary G.J Mecherle, when he sold his first automobile insurance policy, the company has shown tremendous growth throughout the nation. From 1922 to 2013, State Farm insurance group has swiftly grown from an idea in the right direction to the one of the leading insurance providers in United States among personal liner insurers in the U.S. Being a retired farmer himself, G.J Mecherle had a simple objective of starting the company, to ensure an honest and reliable service for its customers. Taking the ideologies of their founder forward, State Farm has always believed in providing the best auto insurance for its customers and in doing so have always stood by their customers.
State Farm’s journey as one of the most sought after auto insurance companies in United States began in 1942 when it was declared the number one in the field. Currently ranked 34 among-st the list of largest American companies by revenue, State Farm is a mutual company owned by its policyholders. State Farm sets a very high code of ethics for itself and believes in not only doing everything that is right for its customers but more importantly doing all those activities legally. For State Farm ‘Honesty isn’t the best policy, rather it is the only policy’.
State Farm and its Services
State Farm originally looked into automobile insurance in the country; however, with time they have grown and developed into a group of companies providing over 100 products and services to its customers. The principle objective of all the companies associated with State Farm remains the same, to manage the present and the future of its customers. Knowing that life is full of uncertainties, it is very important to have a reliable insurance provider by your side to help you overcome the tough times and prepare for tomorrow. State Farm has been highly vocal in its support towards the safety laws passed by US Government to insure minimum loss during accidents. State Farm came strongly in support of the seat belt and teen safety laws.
State Farm’s success over the years is symbolised by the fact that 1 of every 5 cars running on the roads of United States is insured with State Farm. Known by the group name State Farm Mutual Automobile Insurance Company, State Farm also functions as the patriarch of a number of subsidiaries that provide mutual funds, life and property insurances, banking products and other peerless services. With over 65,000 hardworking employees and around 18,000 agents, State Farm boasts of more than 81 million policies and accounts in United States and Canada under its belt. The staggering number sings laurels of the trust and support State Farm enjoys in the areas of its operations.
How State Farm offers its insurance services in the country?
State Farm shows its commitment and dedication towards its policyholders by handling more than 35,000 claims every day. Furthermore the company is actively involved in many community development activities, educational reforms, sponsorship’s and safety awareness programs. State Farm is not only about automobile insurance, they work to ensure an educated and safe living for all the communities in the nation. State Farm firmly believes that growth can never be achieved at the expense of community and therefore people living in the community should always be the top priority.
- State Farm Life Insurance Company which was inaugurated in 1929 holds the license to annuity and insurance products in states of Ney York, Wisconsin and Massachusetts
- State Farm Fire and Casualty Company began its operation from 1935 to include the insurance requirements of boat owners, homeowners and other commercial lines.
- State Farm Life and Accident Assurance Company have been offering accidental and other insurance products in its areas of operations since 1961.
- In 1962, State Farm property insurance company was started to adhere the homeowners and property liabilities of customers in California.
- State Farm entered the New Jersey market in 1991 with State Farm Indemnity Company which promises accurate prising and high risk assessment to the policy holders.
- State Farm Florida Insurance Company (1999) and State Farm Lloyds (1983) look into the insurance activities of the company in Florida and Texas respectively.
- State Farm Bank which has been in prominence since 1998 focuses on consumer related financial products and providing financial assistance and help to State Farm policy holders. State Farm bank being a non-traditional financial institution performs all its operations through its agents and communicates to the account holders through phone and via mails.
As its logo reads, State Farm is highly committed and available 24/7 to ensure its policyholders a safer and healthier life by protecting and securing their automobile vehicle and houses.