State Farm Homeowners Insurance Cost

About State Farm

State Farm offers several property insurance products, including home, renters, condo, rental property, manufactured home, farm, ranch, and personal articles. Additionally, it also has life, health, disability, and liability insurance products available with customizable options for each category. In 2020, State Farm partnered with Trupanion to offer pet insurance policies.

How Much Does State Farm Homeowners Insurance Cost?

As mentioned earlier, State Farm is No. 1 in our Cheapest Homeowners Insurance Companies of 2024 rating. Based on our sample policy, which is for a townhome in Naperville, Illinois, that has $500,000 in coverage and 2,400 square feet, State Farm’s monthly premium is $88.83.

Various factors like the home’s location, size, and age, as well as the policyholder’s demographics, impacts insurance rates and eligibility, so contact the company directly to receive your personalized quote.

What Homeowners Insurance Discounts Are Offered by State Farm?

State Farm offers a handful of discounts on its homeowners insurance policies, which include:

• Multi-policy: If you insure your home and auto with State Farm, you will receive a bundling discount on both policies.
• Home security: Home monitoring systems such as fire, smoke, and security alarms may earn you a discount.
• Roofing: Installing an impact-resistant roof on your home may qualify you for a discount. Contact State Farm for more information before the installation takes place. 
• Automatic sprinkler: You may be eligible for a discount if your home has qualifying automatic indoor fire sprinklers.
• Claims-free: This discount applies if you have gone several years without filing a homeowners claim.
• Utilities rating plan: Check with your State Farm agent to find out if you qualify for a discount after updating your home’s utilities.

Available discounts vary by state. Discuss your options with your local State Farm agent.

How Do I File a Homeowners Insurance Claim with State Farm?

You can file a homeowners insurance claim online, through the mobile app, or by calling State Farm or your local agent.

1. Report any claim that involves a crime, such as theft or vandalism, to the police.
2. Document the incident and any related damage with photos and/or video.
3. Repair any damage that could further harm your home - such as broken windows or leaking pipes - and keep receipts for all work.
4. After contacting them, State Farm will review your claim and may contact you for further details.
5. Track your claim’s status online, in the app, or by contacting your agent.
   
   
   
   
   
   

State Farm vs. the Competition

State Farm vs. Liberty Mutual

State Farm is No. 2 in our Best Home Insurance Companies of 2024 rating, while Liberty Mutual is tied with Travelers at No. 9. Both companies sell home insurance policies in all 50 states and the District of Columbia.

State Farm has a financial strength rating of A++, the highest given by the independent rating agency AM Best, compared to a rating of A for Liberty Mutual.

Both insurers offer optional coverage for valuable possessions, identity theft, and against damage from water backuBoth insurers offer price breaks for bundling homeowners policies with other types of coverage, as well as claims-free discounts. Unlike Liberty Mutual, State Farm offers a loyalty discount, and customers can save with discounts for protective devices, like alarms. Liberty Mutual offers a new or remodeled home credit, and a discount for electronic document delivery, two savings that State Farm doesn’t offer. Liberty Mutual also offers a smart home discount.

Both companies allow customers to get quotes online, and both have a mobile app. In terms of access to agents, State Farm has locations in every state while Liberty Mutual doesn’t.

Learn more in our Liberty Mutual review.

Why You Can Trust Us: 15 Homeowners Insurance Companies Researched

At U.S. News & World Report, we rank the Best Hospitals, Best Colleges, and Best Cars to guide readers through some of life’s most complicated decisions. Our 360 Reviews team draws on this same unbiased approach to rate the products that you use every day. To build our ratings, we researched more than 15 homeowners insurance companies and insurance agencies and analyzed 11 reviews from both professionals and consumers. Our 360 Reviews team does not take samples, gifts, or loans of products or services we review. All sample products provided for review are donated after review. In addition, we maintain a separate business team that has no influence over our methodology or recommendations.