State Farm |
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The company of State Farm was established as an auto insurance carrier for a group of large American insurance companies that specialized in offering auto insurance for the farmers in the United States. The company's founder, George J. Mercherlee, believed that since farmers did not drive their autos as much, they incurred fewer losses than people living in the city, and should therefore pay less money in auto insurance. His idea was very popular and State Farm became a successful company because of it. Currently, State Farm has in excess of 79,200 employers with over 16,700 agents and 71.6 million policies in the United States as well as Canada. State Farm has their headquarters in Bloomington, Illinois. Edward B. Rust, Jr. is the chairman of State Farm and also acts as the company's Chief Executive Officer.State Farm Background
Many companies have been formed with State Farm. State Farm Automobile is one of these insurance companies, which was established on June 7, 1922. Some of the insurance companies have helped farmers solve their insurance needs. Today, State Farm insures one out of every five cars on the road. State Farm is a mutual insurance company, and because of this there are no shareholders. In fact, State Farm was a parent company of a few subsidiaries that were wholly owned, which were able to provide property insurance and life insurance, as well as banking products and other types of services. In 1965, health insurance began to be marketed by State Farm.
In 1961, State Farm Life was another insurance company that began operations to meet people's insurance needs that live in New York, Connecticut, and Wisconsin. The company has been marketing various insurance products to their customers since 1998.
State Farm Fire and Casualty is another State Farm company that was established in 1935. The main objective of this company is to provide State Farm customers who reside in the U.S. and Canada with property insurance. Since 1964, State Farm has the reputation for being the largest insurer of homes.
Another insurance company is State Farm County, which was established in 1961. State Farm manages State Farm County in most of its affairs.
State Farm Indemnity is another major State Farm company with the goal of giving accurate pricing and risk management techniques in the market. Another subsidiary of State Farm is State Farm Guarantee, which is an insurance company that writes auto insurance policies in New Jersey.
State Farm General is yet another State Farm company, which was established in 1962. This company is the primary insurance writer of State Farm Homeowners and offers property liability insurance in the state of California.
State Farm Florida was established in 1999 and deals with property liability business in Florida.
State Farm Lloyds, also called State Farm Bank, is an insurance business that underwrites homeowners insurance and offers multiple peril insurance. State Farm Bank began operations in 1983 and is managed by an attorney State Farm Lloyds, which is mandatory by law. State Farm Bank is an institution that does not have any branch offices. The agents of State Farm Bank provide the majority of both customer assistance and customer interaction. As of December 31, the company had total assets of $12 billion. State Farm's main focus has always been on consumer oriented financial products.
State Farm Investment Management serves as an investment advisor. The company is a transfer agent for the State Farm Variable Products. They have over 35 years of experience in managing assets of the investment company. State Farm VP Management Corporation serves as a broker, as well as a dealer of the State Farm Associate, and Retail Mutual Funds and State Farm Variable products.
State Farm Insurance Agents
State Farm insurance agents are very qualified individuals. Their main function is to help those who have State Farm insurance or those that are looking into buying it. The agents of State Farm provide the majority of the work of helping customers. State Farm agents will help people manage their finances in terms of paying for State Farm insurance products. Through the State Farm Bank, the company offers loans and deposit products at competitive prices. The company provides insurance plans for auto, home, life, and health insurance. They also give you valuable information on how you can best protect yourself from risks, so you can get the most from what you are paying for insurance.
State Farm Auto Insurance
State Farm is a well-known and reputable insurance company that has been in business since 1922. State Farm currently has over $12 billion in total assets. Consumer oriented financial products have always been the main focus of State Farm. By responding to the needs of their customers, they have remained a leader in the business of auto insurance.
