State farm insurance company: StateFarm Insurance Positives and Key Like Points

StateFarm Insurance Positives and Key Like Points

The StateFarm insurance is popular as a good neighbor among its policy holders. A farmer, who is also connected with insurance, founded the State Farm in 1922. It all began with the vision and will to fairly give the right thing to the customers. Today, the mission has evolved and turned into the mission of creating the products that would be considered as the first and best choice. The company ranks as number 41 on the list of the Fortune 500 companies. The original line of product it offered when it registered as a company is only the auto insurance. Today, the State Farmoffers over 100 products and services for different kinds of businesses as well as handles almost 35,000 claims each day. Originally promoting the auto insurance coverage, the State Farm has helped and continues to support the seat belt ruling. The aim is to create a good awareness about safety by raising the levels of safety achievement of the community.

Corporate headquarters

The State Farm looks after all of its employees. It actually owns a 99 acre park dedicated for the use of its employees and families. The park has a state of the art water park and other recreational facilities. The headquarters is located in Bloomington, Illinois.

State Farm Companies

State Farm created the following companies to singly handle specific insurance product and service

* State Farm Mutual Automobile Company

* State Farm Life Insurance Company

* State Farm Life and Accident Assurance Company

* State Farm Fire and Casualty Company

* State Farm Indemnity Company

* State Farm Guaranty Insurance Company

* State Farm General Insurance Company

* State Farm Florida Insurance Company

* State Farm Lloyds

* State Farm County Mutual Insurance Company of Texas

* State Farm Bank

* State Farm Investment Management Corp

* State Farm VP Management Corp

A company that was owned by the policyholders themselves

Don’t you know that the State Farm was first founded as a mutual insurer in 1922? With this kind of investment program, the company grew to over 98 billion assets and had at least 32 billion insurance sales. This means that the company has been doing well serving its co-owners. This is a good example of a company that works on your protection, designs your life benefits, and makes you grow your investments being a policy holder. The jingle that made State Farm famous, “Like a good neighbor, State Farm is here,” was composed by Barry Manilow in 1971. You can watch the jingle here . They say in State Farm, you are more than just a policy number, you are the policy and State Farm co-owner. I hope the policy holders understand the value of their investments with the State Farm insurance company.

News update from the Fortune 500 2014 newsroom

The net income of State Farm showed an increase of about 63% in 2013 driven by an underwriting gain of $230 million. Plans were made to sell the Canada business to the Desjardins Group. Rumors say it is valued at around $1.46 billion.

What do you mean by a mutual insurance company?

A mutual insurance company is actually owned by its policy holders. Earnings made during a specified period are being accounted. The policy holders get a portion of the earnings in the form of rebates, reduced premiums, or dividend stock distributions. The mutual insurers actually raised the capital of the insurance company. This process makes you a company member under a common fund. The benefits will be explained more by the State Farm insurance agent.

There are several good things about StateFarm Insurance and their insurance policies. Here are a list of some of them: