State Farm Insurance Review & Complaints: Mobile Home (2024)

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Purchasing a manufactured or mobile home can come with more risk of damage or loss than a traditional home. Your home is perhaps the largest investment you will make in your lifetime, so it’s important to do your homework when it comes to selecting an insurance provider and a policy to match your lifestyle needs.

State Farm is the biggest name in personal insurance, but is State Farm mobile home insurance the best choice? How does it compare to the other options? We know all too well that this process can oftentimes be confusing, and comparison shopping between insurance providers and matching coverage options with online quotes is enough to drive a mobile homeowner to head back to renting.

This State Farm mobile home insurance review will make things easier. We have the experience and knowledge to guide you through this insurance labyrinth and help you pick the home insurance policy that specifically targets your needs as a mobile homeowner.

State Farm, the top insurance provider in the nation, is perhaps best known for its “like a good neighbor” jingle, but the company also has quite a reputation for offering competitive rates.

We have done the research and provided a detailed rundown of State Farm as a mobile home insurance provider, covering topics including how to get mobile home insurance quotes from the insurer, customer reviews, and financial status reports so you have all the information you need to make an educated decision when picking your policy.

State Farm is the leading property and casualty insurance company, but there are others as well. Finding the right insurance company for you can mean searching for the best rates. Fortunately, we have a free online quote comparison tool that can do it for you.

Enter your ZIP code into it and find the best mobile home insurance rates for your area based on your individual insurance needs. Now, let’s dive to must-know facts about State Farm insurance mobile home coverage.

State Farm Cheap Mobile Home Insurance Rates

All of these overwhelmingly positive reviews, from excellent customer service to great credit ratings and even satisfied employees, are a great starting point in a persuasive argument for choosing State Farm as your mobile home insurance provider, but we all know the deciding factor will often come down to money. What kind of mobile home insurance rates does State Farm offer?

Does the insurer offer some of the best rates as a mobile home insurance company? What kind of coverage is offered for that price? And more importantly, can you afford it? There is nothing more enticing than a great deal, save for maybe the free deal, but no amount of positivity could make up the difference for spending over your budget on a high-priced policy.

Finding the best insurance provider with the right coverage options that will meet your needs as a mobile home owner is a pointless effort if you can not afford the policy.

Lucky for you, State Farm is not known for its price gouging. Though the company is hardly the cut-rate budget insurance option, its size allows it to stay competitive in pricing, even capable at times of undercutting most rates as the cost of dwelling coverage rises. Below you’ll find some availability options and estimated sample rates detailing what it will cost you to safeguard your mobile home investment with State Farm.

State Farm Mobile Home Insurance Availability

State Farm mobile home insurance coverage is available in all 50 states. With over 19,000 agents servicing 83 million policies, you would be hard-pressed to find an area not represented by State Farm. There is currently no online quote option for the mobile home line of insurance.

For more information or to purchase a policy, you must first contact a State Farm agent in your local area. State Farm also makes its representatives available to policyholders 24/7, offering customer support or claims service online or by phone.

State Farm Compared to the Top 10 by Market Share

We briefly touched on State Farm’s share of the home insurance market, a market which includes State Farm’s mobile home line of insurance underneath its umbrella, hinting at the dominant role the company plays as the top insurance provider in the nation. Now we will show you just how far ahead State Farm is in comparison to the top 10 competitors.

Allstate Average Monthly Rates by Credit History

None of the remaining top 10 competitors comes close to State Farm — Allstate, the closest by a long shot, is trailing by $10 billion with a widening gap of a little over 10 percent in market share. And what does State Farm do with its sizable market share and commanding lead?

It uses its size and the resulting influx of cash to filter savings down to policyholders in the form of comparably well-priced rates or discounts. Savings are all well and good, but what about payouts on claims? Is State Farm stingy with paying policyholders’ claims? Or a possibly worse scenario, does the company recklessly pay any claim that is made?

State Farm’s loss ratio percentage sits safely in the middle ground around 60 percent, a moderate percentage showing that the company regularly pays legitimate claims but is cautious and avoids bad investments.

State Farm exudes a level of measured responsibility and balance, offering savings with clear limits (for higher premium amounts and car/auto bundling only) and responsibly managing claims with controlled payouts (offering one of the safest, middle ground loss ratio percentages in the industry).

State Farm Mobile Home Insurance Sample Rates

We have shown you how State Farm has dominated the home insurance market for close to 60 years, now let’s take a look at State Farm mobile home insurance cost, on average. Using the California Department of Insurance’s rate comparison tool, we have gathered sample monthly rates for the top competitors of mobile home insurance in Pasadena County in Los Angeles.

For coverage up to $100,000 on your mobile home investment, State Farm’s average rate sits as one of the lowest in the industry around $390. Farmers Car Insurance Ratings

As you can see in the table above, State Farm provides the lowest rate among top competitors offering mobile home insurance, including Foremost Insurance.

State Farm Insurance Ratings

A bank would not loan you money without a thorough background check into your finances, and you should not go into business with an insurance provider without doing the same.

Unlike your traditional stationary home, mobile homes are more prone to risks associated with damage or loss given their transitory nature. In other words, these are nonstationary homes built for more diverse possible locations, which equals more risk factors.

When damages or losses occur, you need to make sure your insurance provider has the financial backing to pay out any claims and that its representatives are up to par and capable of servicing those claims. The best way to hedge your bets on any potential insurance provider is to check their credit rating and customer satisfaction reviews. Below you will find a brief overview of how State Farm scores with the top rating agencies for financial standing and customer satisfaction.

These ratings are based on State Farm’s overall performance across all lines of insurance, and although not a reflection of solely the mobile home division, it still serves as a good indicator of the company’s financial status and how it will operate as your mobile home insurance provider.

American Family Average Monthly Car Insurance Rates Compared to State Average

The table above provides a brief snapshot of how State Farm ranks with the top credit and customer satisfaction rating agencies. We will explain each rating in further detail to give you a better idea of how State Farm can perform for you as an insurance provider and what the exact letter grade states about the company’s financial and customer satisfaction status.

State Farm’s A.M. Best Rating

A.M. Best is a premier credit rating agency with a storied past of relevant financial dealings dating back to 1899. The company focuses solely on the insurance industry and boasts endorsements from the National Association of Insurance Commissioners and the U.S. Securities and Exchange Commission. A.M. Best’s rating system assigns traditional letter grades that reflect the financial status of any given insurance provider, with an A ranking being the best and C being the worst.

A.M. Best has awarded State Farm the top ranking of A, meaning that State Farm’s credit ranking exceeds expectations.

This applies to all lines of offered insurance, including mobile home, and is proof positive that there is a reason State Farm has overwhelmingly been “the number one provider of insurance” in the nation since 1964. The company’s excellent financial standing and size also puts it at an advantage for continued growth and the ability to take a hit financially, adapt, and still remain competitive when the dust has settled.

State Farm’s Better Business Bureau (BBB) Rating

The Better Business Bureau (BBB) is a nonprofit association that provides ratings and reviews for businesses based on customer feedback. One of the best things about the BBB review process is that it rates companies on a national level while also assessing how each individual location of that business operates on the local level.

The scores are determined by reviewing the validity of customer complaints along with how each company responded to those complaints. A letter grade from A+ (highest) to F (lowest) is then assigned based on this review. State Farm received an A+ from the BBB. This ranking comes from the insurance provider’s hometown of Bloomington, Illinois, and is representative of the entire company. The BBB’s rating further reinforces that State Farm provides reliable and efficient customer service to all its policyholders.

State Farm’s Moody’s Rating

In the financial sector, a positive ranking from Moody’s is the golden seal of approval. Moody’s has provided financial reviews and guidance for over 100 years and serves as one of the top three well-respected financial ranking agencies across the globe. Moody’s reviews the financial stability, or creditworthiness, of businesses and assigns appropriate rankings to help individuals make more educated decisions with their investments. Rankings utilize a letter grade system from A as the highest and C as the lowest.

Moody’s awards State Farm with the highest rating for financial stability with an Aa1 ranking.

The system Moody’s uses ranks a company’s financial stability based on their ability to repay current loans. State Farm’s ranking, then, means that the insurance provider is more than capable of paying any of its debts — which is always good news for you as a policyholder.

The ranking also projects that State Farm will continue to remain financially stable in the immediate future, posing no risks to their policyholders; this last part suggests a high degree of growth potential, which is important because it implies that State Farm is a solid investment choice for your mobile home insurance.

State Farm’s Standard & Poor’s (S&P) Rating

Standard & Poor’s (S&P) is the second of the top three credit ranking agencies in the world with a history of financial analysis that dates back more than 150 years. S&P focuses on the United States stock market and has a tendency to be more demanding in its reviews. The S&P of today focuses its efforts on measuring the success and failures of the 500 companies listed on the stock exchange.

In conjunction with these measuring efforts, the rating agency also regularly conducts and posts reviews of the financial stability of those 500 companies. The S&P informational video below helps better explain how these credit ratings can be useful to you as a policyholder. https://youtu.be/RumDz6Xblbk S&P is firm in stating that its rating is an opinion on a business’s credit-worthiness, but let’s face it, it’s about as informed as an opinion can get without being called a fact. The rating system uses letter grades to rank each business from AAA, being the highest, to D, being the lowest.

State Farm was awarded an AA from S&P. While not the highest ranking, it still far exceeds the rankings of their competitors.

It is our opinion that State Farm was not awarded the top ranking because of unexpected risks, like unpredictable accidents and inclement weather, that are associated with the insurance industry on a daily basis; these risks can not be ignored but are hardly an accurate reflection on financial stability.

S&P’s review of State Farm’s financial stability remains overly positive, stating that the insurance provider is more than capable of paying out claims to policyholders. The AA rating is a glowing recommendation for the provider as a safe investment for anyone seeking State Farm mobile home insurance.

State Farm’s NAIC Complaint Index

The National Association of Insurance Commissioners (NAIC) is a watchdog organization that fields complaints from policyholders about insurance providers to help measure performance and uphold higher standards in the insurance industry. The NAIC’s complaint index is the direct measure of an individual insurance provider’s number of complaints received in any given year compared against a national average set at 1.0. The fewer complaints an insurance provider receives is ideally a sign of better customer service and more reliable claims service.

For a company as large as State Farm, its home insurance division has a surprisingly low complaint index score at .18 percent for 2018. This means that policyholders should have no issues resolving claims with State Farm.

The table below shows State Farm’s complaint index score over the past three years.

American Family Average Monthly Car Insurance Rates by Coverage Level

State Farm performs better than the national average in the complaint department, even improving each successive year, and its excellent customer service department is ready to meet your needs as a policyholder.

State Farm’s J.D. Power Ratings

J.D. Power is relatively new to the rating game, having only been established in the 1960s, but has created quite a name for itself as an authority on product quality and customer service reviews. J.D. Power’s reputation is mostly associated with the automotive industry but extends to the home insurance industry.

Each year, J.D. Power ranks overall customer satisfaction and assesses the quality of each insurance provider’s policies. As you can see in the table below, State Farm scores 831 points out of 1,000 in overall customer satisfaction and receives a four out of five in the J.D. Power circle rating for consumers. American Family Average Monthly Rates by Credit History

According to J.D. Power’s 2019 home insurance study, State Farm placed second among the top 10 insurance providers in the nation for customer service.

Although not a direct figure for mobile home insurance, the J.D. Power ranking does include the measure of mobile home policy service in the total score for State Farm. We are confident that the entire home insurance division, including mobile home, provides top-notch service across the board. As you’re looking into State Farm as a possible provider, it never hurts to get a better understanding of the difference between mobile home vs. home insurance. The more you understand the differences, the better positioned you will be to seek out the coverage that’s best for you.

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State Farm Insurance History

Since its inception as an auto insurance provider, State Farm never strayed far from its founder’s creed, and the company’s success close to 100 years later shows that retired farmer and insurance salesman George Jacob “G.J.” Mecherle was onto a winning formula that has always been about focusing on meeting the needs of policyholders.

Seeing a need to protect his fellow Bloomington, Illinois, farmers from the potential costs of automotive accidents or loss, Mecherle sold his first insurance policy for $11.17 in 1922; this first automotive insurance policy would be the start of a company that would grow to be the leading provider of insurance. Mecherle’s initial policies for local farmers were such a rousing success that by around 1928 there was enough demand to expand the business to include all neighbors, not just farmers, from smaller towns and larger cities.

A centralized base of operations was soon needed to maintain growth, so corporate headquarters was built the following year in downtown Bloomington, Illinois.

State Farm would then go on to expand its automotive insurance line and began offering life insurance in 1929 and home insurance in 1935 through The Fire Company.

It took Mecherle and his burgeoning company 14 years of hard work to be the number-one provider of auto insurance in the United States and another 22 years to reach that same spot in the homeowners insurance market. State Farm has continued to expand outside insurance to the financial market, establishing the State Farm Bank® in 1999.

State Farm consistently maintained a neighborly relationship with each of its policyholders by being there in times of need, and the company’s history is often found to be woven into the fabric of the very communities of the policyholders it serves. Below is a brief video detailing just such a relationship between State Farm and the United States Postal Service throughout close to 100 years of service. https://youtu.be/F0a52Tr6JkE State Farm today ranks number 36 on the Fortune 500 list of largest companies and offers coverage for multiple policies across all lines of insurance, including for mobile homes.

From what began as a simple auto insurance provider for local farmers, State Farm has grown substantially to become the top insurance provider in the nation among all categories, including mobile homes, and maintained the same humble message and guiding mission statement of placing policyholders’ needs first and foremost. As a financially stable Fortune 500 company, State Farm’s home insurance division provides the perfect example of how sticking to your mission statement can accomplish great things. By keeping policyholders’ interests at the forefront while operating business in a person-to-person, community-driven way, State Farm has far exceeded its humble beginnings.

State Farm Market Share

Financial jargon or economic terms can often be intimidating; the terms themselves can be confusing and off-putting to readers, and unnecessarily complicated explanations only bring people further from understanding. That’s where we come in. We are here to rid you of that type of extra confusion and help you better understand how such terms like market share affect you as a policyholder.

The market share is exactly what it sounds like: the share of the market or business that a company controls within a single industry over a certain period of time. In this case, the company would be the insurance provider, State Farm, and the industry is manufactured home insurance, which is included under the larger umbrella of home insurance.

So why should you care about what percentage of the market your insurance provider controls? How does this affect what will always be the bottom line — cost? Well, you are right to question. A single year figure for State Farm’s market share will tell you its financial status but not much else. Of course, a larger insurance provider equals more financial backing that potentially leads to better savings and security when filing claims.

Over several years, though, the comparison of State Farm’s market share can give you insight into how it is conducting business as well as projections for how the company will continue to conduct business in the future.

Growth in customer base over consecutive years is always a good sign; more customers means that the provider honors contracts and efficiently pays out claims. The table below details State Farm’s share of the home insurance market over three years.

American Family Discounts and Percentages Off

Even a quick glance from an untrained eye can tell you that State Farm has been losing a percentage of its market share since 2016. Loss is generally not a great thing, but in the case of State Farm, loss in market share probably has less to do with underperformance and more to do with another company’s over-performance State Farm remains well ahead of the pack even with slight losses in market share.

There was a loss in premiums written with no gain of policyholders in 2017, but a single-year loss is not cause for much concern. The insurance industry is suspect to uncontrollable variables, like inclement weather and flash flooding, that can turn a profitable year bad. Experts have suggested a variety of reasons for this loss in premiums written including rate hikes, a lack of any significant online presence, and the failure to develop a functioning mobile app. But no matter the cause, State Farm has obviously taken the right steps to remedy the problem.

The number of premiums written for 2018 showed an increase of close to 600 million premiums and the rate of decrease for market share percentage also seems to have tapered off by more than half, only dropping by .20 percent in comparison to the .63 percent drop in 2017.

After only a single year of loss, State Farm has righted its ship and is once again on the rise. One more aspect to keep in mind about market share is that a company with a large share like State Farm can take a hit, fix the problem, and rebound stronger.

State Farm’s Position for the Future

State Farm redoubled its online presence and even rolled out a fully functioning mobile app that allows online claims filing and bill pay. The company’s size alone allows it the freedom to take a hit one year and respond the following year by pivoting the business model to resolve any recognized problems or issues without missing a beat, financially speaking.

This kind of financial freedom allows for greater flexibility at a corporate level to focus on policyholders, their needs, and fixing problems rather than patching them up. The company’s loss ratio, a figure that depicts how much or how little an insurance provider pays out to claims, is in a safe range at slightly over 60 percent.

This means that State Farm pays out regularly to policyholders for filed claims by responsibly matching payouts with incoming premiums. The good news for any State Farm policyholder is that the insurance provider is not stingy with its payouts. After an unexpected loss or damage to their property, no one wants a struggle when it comes to the claims process.

An evenly balanced loss ratio figure shows that State Farm is a responsible investor capable of managing your home safety investment.

With a sizable market share gap between State Farm and its top competitors, the company shows no signs of slowing down in the years to come. State Farm’s customer service reviews from the likes of J.D. Power have only improved to “better than most” in 2019, and the NAIC reports that the number of complaints filed against State Farm is decreasing each year. Improving customer service and decreasing complaints while increasing the number of policyholders and blowing past competitors with unmatched policy offerings, pricing, and levels of service are all positive signs that State Farm will be there for you when you need them.

State Farm continues to adapt to an evolving insurance market, but the personal level of service given by the provider’s over 58,000 employees and additional 9,000 independent contractor agents remains constant. This group of good neighbors servicing 83 million policies and around 36,000 claims per day is a solid investment for many years to come.

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State Farm’s Online Presence

State Farm has a strong online presence with an intuitive website that features individual sections for offered lines of insurance, banking services, and investment options. Aside from these navigable sections, the header also includes login access for accounts, bill-pay, claims filing, an agent locator, and an online quote button.

Information regarding State Farm’s mobile home insurance policy is displayed on a page easily found through the navigation header featured on each of the site’s pages.

It is a comforting sign for any mobile homeowner seeking an insurance policy that this information is readily available and deemed important enough to not be tucked away like an afterthought. The information on the manufactured home page details a basic run-down of what a mobile home comprises and what is covered by a standard mobile home policy.

The pages are clear and concise and the color palette, made up of black text and red accents on a white background, grabs attention without being abrasive or too alarming. Options to find local agents in your area are featured prominently at the top of the page, pushing for a more personal interaction if you desire. The agent search option provides a list of agents arranged by proximity to the ZIP code provided. Below each photo and name, contact details follow for address, email, and phone number. A quick summary of specialties and particular services offered is included as well as links to each agent’s site.

State Farm’s website also features an inclusive learning center providing articles that answer questions for the likes of first home buyers or amateur home repairmen. Titled Simple Insights®, the learning center increases State Farm’s online presence while making connections through helpful tips available to anyone searching the web. The last two additions to the State Farm website self-help section comprise a useful home inventory tool that makes moving day slightly easier on adults and a series of calculators that can assist you in providing estimates for figures like home equity tax. Finally, State Farm’s online presence is rounded out with a fully functioning mobile app that allows you to access your mobile home insurance account, file claims, and pay bills.

State Farm Insurance Commercials

State Farm’s PR machine is in full force with commercials in heavy rotation on television and streaming devices. The commercials are generally quick, 30-second spots with longer ones reaching about a minute featuring celebrities, fake personal home stories, and mock scenarios with policyholders and their agents. This first commercial is a longer spot that features a couple remodeling their new home with all the spirit and closeness that comes from sharing in the haphazard accidents, the bad plumbing rigged with ingenuity, and the quick, mostly botched home repair jobs that occur when living in a true money pit.

This next commercial highlights the convenience and savings that State Farm can offer policyholders by bundling multiple policies such as home and car insurance. The tone this time steers away from comedy and focuses much of its energy on the genuine concern that State Farm has for safeguarding policyholders’ homes and automobiles.

This last commercial offers up a humorous take on the supposedly cheating husband who is caught in the early hours of the morning on the phone by his wife. Given the time and his suspicious dialogue taken out of context, she suspects another woman only to find out when she grabs the phone that it really is their State Farm agent.

https://youtu.be/tEaTrmlZUgw

Even in this last humorous take on situational irony, State Farm still manages to push genuineness about its concern for the well-being of their policyholders. It is evident that State Farm has authoritative control on its brand awareness and presents a clear message of genuine care and compassion.

State Farm in the Community

State Farm makes a genuine effort toward improving the lives of its policyholders and the communities they call home. One of the biggest takeaways is the degree of inclusivity that is offered. The programs and volunteer efforts may happen primarily in areas where State Farm operates, but they hardly seem to be isolated to only assisting policyholders.

It is very apparent that State Farm understands the benefits of creating and living in a healthy community.

The Neighborhood of Good® section features articles and videos detailing examples of individuals and employees involved in volunteer efforts that State Farm has either funded or inspired to take real action in some way. The insurance provider’s online site even provides an option to search for local volunteer opportunities by ZIP code, a feature that is made available even to non-policyholders. State Farm has structured their donations and volunteer efforts into three broad categories that include:

• Auto and home safety programs
• Education, economic empowerment and community development projects
• Disaster preparedness and recovery programs and services

Through a variety of programs adhering loosely to these three areas of assistance, State Farm has worked with over 7,000 nonprofits and charities. Programs like the Good Neighbor Grant®, a $500 grant given to nonprofits after State Farm employees complete 40 hours of volunteer work, are a perfect example of how State Farm’s efforts are improving communities by inspiring volunteerism while also rewarding non-profits for those volunteer efforts.

The company also funds a variety of educational grants and initiatives to assist underprivileged students with tuition through the State Farm Education Assist® program. The video below shows just how much this assistance means to actual recipients of the grant back in 2017. https://youtu.be/j6km-y0o6KI Lastly is the State Farm Neighborhood Assist® program that awards grants of up to $25,000 to charities and non-profit efforts that benefit the community.

In 2019, State Farm awarded the grant to 40 causes and based its decisions on the votes of their policyholders. Here is a video featuring a recent recipient who runs Sharp Dressed Man, a company that donates recycled suits to improve the lives of impoverished individuals. The charitable company’s actions are based on the belief that the benefits of a new suit could mean the difference between getting hired for a job or remaining unemployed.

State Farm’s genuine efforts in giving back to the community are a priority earning them the right to stake their claim as America’s good neighbor.

State Farm’s Employees

We believe that the true measure of any company’s success is due to the hard work and dedication of its employees. From the top of the corporate ladder down to your local insurance agent, worker contentment is as important as the quality of the product being sold. A policy that meets all your mobile home coverage needs is useless if you can not get your claims serviced.

A happy employee most definitely makes for a more helpful, productive worker, which in turn means a better overall experience for you as the policyholder.

It is a proven formula for success and one that has helped State Farm dominate the home insurance market for 56 years now. To get a better idea of who these happy workers are and how they operate on a daily basis, we did some digging and put together an overview of State Farm’s employee culture.

Age of Employees & Tenure at State Farm

According to leading workplace analyst Payscale, the average age of State Farm employees is 36 and tenure is about three years. The average age does lean to a slightly younger demographic but we feel this youthful energy, at an age that is not entry-level, works in policyholders’ favor. The remainder of the workforce largely comprises experienced and mid-career professionals.

State Farm Employee Experience

Based on over 823 surveys from Payscale, State Farm employees report feeling slightly above average when it comes to job satisfaction. Job satisfaction, although not necessarily a deal-breaker, is an important sign of an organized, efficiently run insurance provider; it implies that State Farm’s daily operation has few organizational hiccups and provides support for its staff when troubleshooting policyholders’ issues.

State Farm Awards & Accolades

You do not become the number-one home insurance provider in the nation without gaining some recognition along the way, so it is to be expected that State Farm has quite the trophy room. The insurance provider has a long history of being recognized as a top employer in the industry as well as one that promotes the advancement of women and minorities in the workplace. Since the list goes on and on, we will keep it to their greatest hits. In order to give you a better idea about State Farm’s workplace culture, we have listed below some of the most recent, top awards given to the insurance provider in 2020 and 2019.

• 2020 Top 100 Most Military Friendly® Employer
• 2020 Fortune magazine’s Most Admired Company (2009–2020)
• 2020 National Recognition for Equality (received a perfect score of 100 on the Human Rights index)
• 2020 CEO Cancer Gold Standard Accreditation™
• 2019 The National Association of Female Executives (NAFE) Top Companies for Executive Women (2008–2019))
• 2019 AnitaB.org Top Company for Women Technologists
• 2019 LATINA Style’s 50 Best Companies for Latinas to Work (1998–2019)
• 2019 Working Mother magazine’s Best Companies for Multicultural Women (2009–2019)
• 2019 Black Enterprise Magazine’s Best Companies for Diversity (2007–2019)

This list, though abbreviated, proves that State Farm is the number one provider of insurance in the nation for a reason; by setting exemplary standards within such major workforce categories as diversity hiring and women empowerment, State Farm has become a pillar of integrity and forward thinking within the insurance industry.

Insurance Coverages Offered By State Farm

State Farm proves time and again that it will adapt to the needs of policyholders, and the extensive selection of policy offerings is just one more example among many of this commitment. In addition to selling mobile home insurance, State Farm offers several types of insurance. Keep reading as we dig in deeper.

State Farm’s Home Insurance Policy Types

State Farm provides all forms of home insurance policies, including coverage for manufactured homes, condos, renters, and landlords. Below is a list of each policy offered by State Farm as well as a short descriptive text of exactly what each type covers.

State Farm Insurance for Homeowners

State Farm offers a traditional homeowners policy, otherwise known as an HO-3, that covers damage or loss due to multiple perils. This covers the physical structure and any attached structures if damage occurs due to any and all perils, such as fire, except those excluded in your policy. Exclusions generally involve natural disasters like flooding or an earthquake.

The HO-3 also offers coverage for liability and personal priority as part of the standard contract. So, your possessions inside the house are also protected up to a certain dollar amount as well as the cost of third-party injuries that may potentially occur on your property.

State Farm Insurance for Condos

For individuals in the unique position of attempting to insure their owned or leased condo unit, State Farm has you covered. The standard condo insurance, or HO-6, will cover personal property as well as liability. Otherwise known as “walls-in” coverage, this leaves out the physical structure of the condominium complex while still protecting what is essentially your investment, such as flooring and fixtures inside the unit.

State Farm Insurance Renters

State Farm has a policy for renters, known as an HO-4. This policy only covers personal property and liability, not the physical structure.

State Farm Mobile Home Insurance

State Farm’s mobile home insurance policy, or HO-7, includes coverage for damage or loss from multiple perils save for exclusions. Liability and personal property are included as well as some stipulations designed particularly for the mobile home lifestyle, such as seasonal coverage rates or automotive inclusions for RVs. It will be important for any mobile homeowner to create an insurance coverage checklist to ensure all of your needs are met. If you’re not certain of what you might need coverage for, take the time to consult with an agent or representative.

Rental Property

Landlords need protection, so State Farm offers a policy that covers the physical structure of rental property from damage or loss save for typical exclusions. The policy excludes things such as personal property, but liability is still included and viewed as a necessity for landlords.

Additional Policies

State Farm offers additional policy types such as farm and ranch Insurance. Flood insurance coverage is offered through the National Flood Insurance Program (NFIP) and administered by the Federal Emergency Management Agency (FEMA). If your community participates in the NFIP, then your State Farm agent can help you in the purchase of flood insurance coverage from FEMA.

State Farm’s Mobile Home Insurance Policy

The mobile home insurance policy offered by State Farm is very similar to their traditional homeowners insurance. Here’s a closer look at what is covered:

• Dwelling and Other Structures: This covers any damage that occurs to the physical structure of your mobile home through direct, accidental, or sudden loss from multiple perils including but not limited to fire, lightning, objects falling, burglary (both attempted and actual), vandalism, explosion, landslide, bursting pipes, damage by wild animals, damage from ice and snow, and wind or hail damage.
• Personal Property: This will cover damage or loss up to a certain dollar amount for your possessions included within your mobile home. The coverage is only for damage or loss up to a certain dollar amount, so any personal property valued at higher dollar amounts, like computers or high-end jewelry, may need additional umbrella insurance to cover the full dollar amount.
• Liability: This covers both costs from lawsuits as well as medical bills that are the result of injury that could potentially occur on site of your mobile home. This covers injury for you, your family, and any third-party individuals.
• Additional Living Expenses (ALE, also called Loss of Use): This covers policyholders for expenses that occur if your mobile home happens to be unlivable during renovation or perhaps from damage occurring due to a natural disaster. Payment will be offered for supplemental living expenses like hotel or apartment stay.

Personalized policy types custom made to policyholders’ needs seems to be a reoccurring theme for State Farm, and this extra attention to servicing clients does not stop when it comes to your State Farm mobile home insurance policy. Listed below are just a few of the riders, endorsements, or add-ons that State Farm offers to personalize your mobile home insurance policy:

• Replacement Cost Coverage: This coverage extends to include the full cost of repair or replacement of your home and personal property
• Identity Restoration Coverage: This provides coverage in the event that your identity has been stolen and used for illegal purposes
• Earthquake and Volcanic Explosion Coverage: In the event of a natural disaster like an earthquake or volcano eruption, this optional endorsement has you covered for damages that may otherwise not be covered under your traditional policy

State Farm’s mobile home insurance policy is so inclusive, it is easier for us to tell you what is not covered. Below is a list of the top contenders for property loss or damage not covered in the standard policy:

• Damage caused by continuous or repeated seepage or leakage of water
• Water damage caused by flood
• Damage caused by natural wear and tear or mechanical breakdown
• Dry or wet rot
• Damage caused by nuclear hazard
• Damage caused by rodents, birds, insects, or even your own domestic animals

For more information regarding mobile home facts and where you may stand with State Farm as an owner, check out the Manufactured Housing Institute’s (MHI) yearly review.

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State Farm’s Bundling Options

State Farm offers bundling discounts for their main lines of insurance including car, life, and home, and this includes mobile homes, as well. The main bundling option most policyholders take advantage of is the automotive and home which provides savings of close to 20 percent off.

State Farm’s Mobile Home Insurance Discounts

Anyone who has purchased a mobile home knows that it’s an investment. From the initial down payment, to the seller closing costs, and to your monthly payments — it all comes at a cost. It’s why discounts are important. The good news? Bundling is not the only way to get a discounted rate from State Farm. Here is a list of potential savings offered from the number one insurance provider: American Family Car Insurance Premiums Written and Loss Ratio 3-year trend

These discounts mainly focus on automotive policies, but several can still apply to your mobile home insurance policy.

Security Discounts Offered by State Farm Insurance

Just as they offer more traditional homeowners discounts for safeguarding their homes, State Farm also offers mobile homeowners the same average degree of savings if they safeguard their mobile home from potential damage or property loss. This can include the installation of smoke or burglar alarms, fire sprinklers, and impact-resistant roofing. Some of these options may not apply depending on how mobile your home is; however, generally speaking, the safer you make your mobile home in protecting it from the risk of damage, the cheaper State Farm will make your monthly rate.

State Farm Insurance Bundling Discounts

As mentioned previously, State Farm does offer a discount for taking out multiple policies, the most popular being for the bundling of home and auto. According to State Farm’s site, policyholders can save up to 17 percent if they have homeowners, renters, condo, or life insurance in addition to their automotive insurance.

Additional Discounts Offered by State Farm

Mobile home policyholders will also benefit from offered discounts for a claim-free history. The longer you go without filing a claim, the more you may potentially earn in savings. It is kind of like a discount for good behavior.

State Farm’s Programs

Included in their online activities is State Farm’s Simple Insights® program, an informational tool for both policyholders and the general public regarding a variety of topics from first time home buying to car repair. The inclusiveness of this feature as well as the detail provided in the articles, trust us when we say they are not simply marketing fluff, really show State Farm’s commitment to the community.

Home inventory checklists and calculators are also included in the SImple Insights® section providing homeowners with additional tools for either moving out or potentially refinancing to move into a new home.

Their charitable donations do not stop with purely informational articles either. State Farm focuses on benefiting their policyholders and the communities they live in through charitable donations benefiting education as well as promoting volunteer services for non-profits.

Efforts include providing grant awards to nonprofits and other charitable causes, advocacy for home and auto safety and awareness, investment in the Community Reinvestment Act (CRA), and participation in a STEM initiative. One such educational benefit comes in the form of the State Farm Companies Foundation Scholarship Program, which awards scholarships to 100 recipients each spring. Winners receive $5,000 for up to four years of undergraduate study. This program, however, is limited to the legal dependents of State Farm employees only.

Canceling Your State Farm Insurance Policy

We get it. Things happen, and you may find that you need to cancel your State Farm mobile home insurance policy. Fortunately, when it comes to canceling, you have options. You can cancel your mobile home insurance policy at any time either by phone, mail or fax, or in-person.

Is there a cancellation fee?

When it comes to your State Farm mobile home insurance, we know that every dollar counts — even if you have to cancel. The good news? State Farm does not usually charge a cancellation fee. As a precaution, you’ll always want to speak to your agent or a State Farm representative.

If I cancel, will I get a refund?

Getting a full refund won’t typically be the norm if you have to cancel. However, that doesn’t mean all is lost. In the majority of cases, State Farm will offer a prorated refund of your monthly rate depending on the date and time of your policy cancellation.

How do I cancel my State Farm Insurance?

You can cancel by phone, mail or fax, and also in person. By phone.

• You’ll need to have the following information available: policy number, name, Social Security number, and date of birth.
• Cancellations by phone are generally effective immediately but you can also schedule policy cancellation for a future date.
• If you’re switching providers, you may need to provide the new provider’s name, policy number, and effective date.

By mail or fax. Your written letter should include:

• Name, address, and phone number.
• State Farm policy number.
• Date and time for policy cancellation to take effect.

Your letter should be signed, dated, and mailed at least two weeks before your intended cancellation date; the envelope should be addressed to: Corporate Headquarters State Farm Insurance One State Farm Plaza Bloomington, IL 61710 Or fax: 1-888-633-0405 or 1-905-750-5002. In-person. Make sure you bring the following information:

• Name, address, and phone number.
• State Farm policy number.
• Date and time you want your policy to end.

If you’re switching providers, your new insurer’s name, policy number and policy start date. If you decide to go through with the cancel, you will need to provide your agent with:

• Policy number
• Name
• Date of birth
• SSN
• Cancel effective date

When can I cancel?

As we mentioned above, you can feel free to cancel at any time during your policy term. But keep in mind, there could be some financial ramifications, in terms of getting a prorated refund, versus a full refund.

Read more: What is the process for canceling my car insurance policy with State Farm?

State Farm Insurance Premiums Written

We briefly discussed the number of premiums State Farm writes in comparison to the top 10 insurance providers in the market share section, but there is more to measuring an insurance provider’s success or failure than market share alone. Aside from showing State Farm’s continued dominance of the home insurance market (which includes the mobile home division of insurance), the rise or fall of the number of premiums written over a three-year period can tell you how the company operates.

Generally speaking, if a business maintains its former clients while growing that customer base as well, that shows a business that is run efficiently with a product the people like. American Family Average Monthly Car Insurance Rates By Driving Record

From the table above, State Farm took a loss in 2017 in the number of premiums written but rebounded. A single-year dip is usually not something to be concerned about. If anything, it is a perfect example of how resilient State Farm can be even in a down year. The company fixes the problem and weathers the storm to come back even stronger.

State Farm Insurance Loss Ratio

Another term thrown around as if the general public should all know is loss ratio. What does loss ratio mean? And more importantly, how does loss ratio affect you as a policyholder? In plain terms, the loss ratio for an insurance provider is how much is coming in, the number of premiums written, in comparison to how much is going out, the amount paid out in claims.

If a provider’s loss ratio percentage is too high, they are paying out too many claims and are running the risk of bankruptcy; if the percentage is too low, the provider is stingy when it comes to paying out claims, and policyholders may be left hanging when it comes to receiving payment and rebuilding their lives.

Neither option is ideal when it comes to safeguarding your mobile home investment, and you should look for a provider with a safe percentage ranging between 60 to 70 percent.

For the most part, State Farm measures in the safe ground with a loss ratio measuring around the 60 percent mark. This means that they are willing to pay out viable claims honoring their part in the insurance contract but responsible enough with your invested money to avoid potentially bad investments. American Family Car Insurance Pros and Cons

Once again the figures show 2017 as a rough year for pay-outs.

This was probably due to an unexpected increase in natural disasters or catastrophes that resulted in a higher number of claims. In regards to the insurance provider’s resiliency, State Farm is more than capable of weathering the storm with its mobile homeowners and bounced back even stronger the next year.

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How to Get a State Farm Insurance Quote Online

Time for some specific info on how to get State Farm insurance mobile home quotes. Unfortunately, State Farm does not offer an online quote option for its mobile home insurance policy. You must speak with an agent if you are interested in purchasing a policy, and the site conveniently offers a find a local agent search option from the mobile home insurance front page.

You simply just type in your ZIP code and contact your nearest State Farm agent. A telephone number, address, and email are all provided with each agent’s displayed information. Once you’re connected, be sure to get all of the information you need to ensure you’re getting the best mobile home insurance rates possible.

Design of State Farm Insurance’s Website/App

Rumors have persisted that part of the troubles that came for State Farm in 2017 (loss in premiums written and an increase in loss ratio percentage) were because of a lack of an online presence and mobile app. If that was the case, you would not have guessed it by their strong online presence and increased functionality of their app today. The website is clean and visually appealing using white with accents of red on each successive page.

The navigation is intuitive, and we easily found any of the necessary insurance info without too many redirects or confusion.

The information provided is quick and concise without being overbearing by providing too much insurance lingo. The directness of the message was a positive given the provider’s multiple lines of insurance. The mobile State Farm app has all the bells and whistles you would come to expect from an insurance app. Like most insurance apps, it is more geared toward the automotive side, but options for account overview and online claims filing are both features that mobile home policyholders should find convenient and helpful.

Not only is the State Farm app fully functioning, but it is also a hit among policyholders. Currently, it is praised by most in reviews with a 4.1 rating at the GooglePlay store and an impressive 4.8 at the ios apple app store. We were impressed with the high ratings but were even more impressed at seeing the responses from State Farm to their policyholder’s reviews and complaints. Just one more example of how involved State Farm is in meeting the needs of their policyholders.

Pros & Cons of State Farm Mobile Home Insurance

We know we dumped a lot of information on you, so it may still seem like a pretty daunting task to make up your mind over whether or not State Farm is the right insurance provider for you. In order to sum it all up, here is a quick pros and cons list for State Farm as a mobile home insurance provider. Farmers Car Insurance Overview

It is apparent to us that the pros far outweigh the cons, and State Farm is the right choice when it comes to safeguarding your mobile home investment.

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Streamlining Security: Navigating the State Farm Insurance Claims Process

Ease of Filing a Claim

When it comes to filing a claim with State Farm mobile home insurance, policyholders have several convenient options at their disposal. Whether you prefer the simplicity of an online process, the ease of making a call, or utilizing mobile apps for quick claim submission, State Farm aims to make the claims process as straightforward as possible.

Average Claim Processing Time

The efficiency of a claims process is a critical factor for policyholders, as it directly impacts how quickly they can recover from damages or losses. State Farm strives to provide timely claim processing, ensuring that customers receive the support they need when they need it most. Understanding the average claim processing time will help you assess State Farm’s commitment to swift resolutions.

Customer Feedback on Claim Resolutions and Payouts

Real-world experiences from policyholders can offer valuable insights into an insurance provider’s claim resolution and payout practices. We’ll explore customer feedback and reviews to gauge how satisfied policyholders are with State Farm’s handling of claims. This section will provide you with a sense of the insurer’s track record in fulfilling its commitments.

Elevate Your Coverage: Exploring State Farm’s Cutting-Edge Digital Features

Mobile App Features and Functionality

In today’s digital age, insurance providers often offer mobile apps to enhance the convenience of managing policies and filing claims. State Farm’s mobile app is a key component of their service, providing various features and functionalities for policyholders. We’ll delve into what the app offers, helping you understand how it can simplify your insurance-related tasks.

Online Account Management Capabilities

Efficient online account management is essential for policyholders who prefer to handle their insurance affairs electronically. State Farm offers online tools and resources to facilitate account management. We’ll explore these capabilities, giving you a comprehensive overview of how you can easily manage your policy online.

Digital Tools and Resources

Beyond mobile apps and online account management, State Farm provides additional digital tools and resources that can benefit policyholders. Whether it’s educational materials, calculators, or other online resources, we’ll outline what State Farm offers to help you make informed decisions and stay informed about your mobile home insurance.

By examining the claims process and digital features, you’ll gain a thorough understanding of what State Farm has to offer as a mobile home insurance provider, making it easier for you to make an informed decision about your insurance needs.

Frequently Asked Questions: State Farm Mobile Home Insurance

As detailed as our guide has been, we know that you may still have some lingering questions. For the purpose of further troubleshooting those remaining questions, we have listed below three of the most frequently asked questions regarding State Farm’s mobile homeowners insurance policy.

#1 – What does State Farm define as a dwelling when it comes to mobile home coverage?

A dwelling would be defined as including the actual physical structure that makes up the home as well as attached structures like porches, decks, and garages.

#2 – How much insurance coverage should I have on my mobile home?

This is up to the policyholder to determine the value of their mobile home property. However, we would suggest purchasing coverage that is either equal to or greater than the estimated replacement value of your mobile home.

#1 – What does State Farm define as a dwelling when it comes to mobile home coverage?

A dwelling would be defined as including the actual physical structure that makes up the home as well as attached structures like porches, decks, and garages.

#2 – How much insurance coverage should I have on my mobile home?

This is up to the policyholder to determine the value of their mobile home property. However, we would suggest purchasing coverage that is either equal to or greater than the estimated replacement value of your mobile home.

#5 – Is it hard to get insurance on a mobile home?

Finding insurance on a mobile home shouldn’t be difficult; it’s all a matter of doing your research and finding which companies offer coverage. However, if the mobile home is older, you may have difficulties. The U.S. Department of Housing and Urban Development (HUD) established Manufactured Home Construction and Safety Standards (MHCSS) in 1976. Mobile homes built before this time may not have adequate safety standards, and may therefore be more difficult and costly to insure.

State Farm Mobile Home Insurance: The Bottom Line

Being the number-one home insurance provider is a double-edged sword for State Farm’s policyholders. Their dominant position in the home insurance market allows them to operate basically with impunity raising or lowering rates for policyholders with little to no consequence for the insurance provider. For the most part, though, it seems that State Farm uses its size for good rather than evil.

Their intentions remain true to their founder’s purpose of always keeping the policyholders’ best interests in mind. The insurance provider truly acts and conducts business like the good neighbor their marketing slogans constantly attest to them being.

State Farm offers competitive if not the lowest possible rates in the home insurance market, and the savings trickle down to policyholders when either purchasing multiple policies or raising the dollar amount for coverage.

And, they are a safe investment even in the claims department with an average loss ratio in the 60th percentile over a three year period. Although the mobile home line of insurance is a subset of the more traditional, we still feel the benefits extend from the ground up to all divisions of State Farm insurance no matter how small or big the percentage of premiums written.

With active involvement in the community, State Farm’s efforts seem genuine as they continue to be a safe investment financially speaking showing only more signs of potential growth. Purchasing a mobile home insurance policy with State Farm is about as sure of a bet as you will ever have in the insurance industry. Ready to shop and compare? The next step is easy. Get a detailed quote for your mobile home that includes sample monthly rates by using our free quote tool. Type in your ZIP code to get started.

References:

1. http://www.ambest.com/home/ratings.aspx
2. https://www.bbb.org/
3. https://www.moodys.com/
4. https://content.naic.org/
5. https://www.manufacturedhousing.org/