State Farm Homeowners Policy Affirms A Time-Honored Policy

2007-03-08 10:33:40

( Insurance )



In 1922, the founder of State Farm Insurance Companies declared that honesty is not the best policy – it is the only policy. Today, State Farm remains committed to the same high standards of integrity in its operations. The founder’s original philosophy of insurance coverage at a fair price, coupled with fair claim settlement, continues to be affirmed in the State Farm homeowners policy.

The company started as a mutual auto insurance company. It first wrote car insurance policy products for farmers. Its founder, a farmer, did not like the fact that farmers who were less accident-prone than non-farmers were charged the same auto insurance rates. It soon introduced innovations like low-risk rates, safe-driver discounts and semi-annual payment plans.

Today it claims to be the leading auto insurer in the country. Moving beyond farmers, its car insurance policy products are designed you and insurance consumers with the same fair deal in mind. It continues to evolve with the industry: for example, it is among the first insurers to move away from postal zip code rate setting in certain states that sanctioned the practice, into more individualized driver evaluation.

A State Farm homeowners policy provides protection for your house, the personal possessions therein and personal liability (in case you are held responsible for injury to another person). A State Farm homeowners policy automatically makes adjustments (up to a limit) each year to cover for increases in construction costs in your area. The basic idea is to provide coverage that matches the replacement cost of your house should it become necessary to rebuild it.

State Farm homeowners policy has become a popular product. The company says about 15 million homes, about one in every five homes, are already covered by a State Farm homeowners policy.

From its humble beginnings, State Farm has become one of the world’s largest financial institutions. It can cover all your insurance needs, including life insurance policy and term life insurance policy, boat insurance policy and several more. It services 71.6 million policies, all of which, like a State Farm homeowners policy, are continuing affirmations of its founder’s policy.


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