Is State Farm Good in Florida? 2024 (2024)

FAQs

Is State Farm Good in Florida? 2024? ›

State Farm Insurance Company Reputation

State Farm is the best car insurance company in Florida for ease of use. It has an easy-to-use website and simple claims filing process compared with other top-rated companies in Florida. State Farm also has high app store ratings for iOS and Android devices.

For those who prioritize customer experience, State Farm tops the list of Florida insurers, earning 833 out of 1,000 possible points in J.D. Power's customer satisfaction survey.

Based on our findings, State Farm, Geico, Progressive and Allstate offer some of the best car insurance in Florida.

OLDWICK, N.J, March 28, 2024--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bb+" (Fair) from "a" (Excellent) of State Farm General Insurance Company (State Farm General) (Bloomington, IL).

State Farm is the best car insurance company in Florida for its affordable rates, versatile coverage options and customer experience.

In our 2023 review, we give State Farm a 9.3 out of 10.0 for cost, while Allstate receives only a 7.4. As you can see in the chart below, State Farm's average annual rate falls well below the national average, while Allstate's is significantly higher.

Gov. Ron DeSantis' office confirmed that State Farm Insurance plans to continue its presence in the Florida insurance marketplace after Farmers Insurance declared plans to leave the state. Gov.

Why it's the best: American Family received far fewer customer complaints for auto insurance than similar-size companies and received the fewest complaints out of the insurers on our 2024 best companies list. The company spotlights its Facebook customer reviews on its main website.

What is the ideal car insurance coverage in Florida? ›

Recommendation: $100,00 per person/$300,000 per incident, minimum. This amount can be equal to or less than your BI limits, but can never be more than your own BI limits.

State Farm insurance in Tampa, FL can help you stay mobile. Helpful coverage options for many drivers include comprehensive, collision, liability, medical payments, and uninsured or underinsured motorist. In the end, the coverage you choose will depend on your budget and the vehicle you're looking to insure.

AM Best has downgraded its Financial Strength Rating (FSR) and Long-Term Issuer Credit Rating (Long-Term ICR) for State Farm General Insurance Company. The ratings agency announced that it has lowered State Farm General's FSR from A (excellent) to B (fair) and its Long-Term ICR from “a” (excellent) to “bb+” (fair).

AM Best cited the strength of State Farm's balance sheet as the reason for the downgrades. The ratings firm said it is weak. Other rating components took a hit, too. The company's operation performance is considered marginal and its business profile got rated neutral.

AM Best has downgraded the financial strength rating of State Farm General Insurance Co. from stable to negative, moving from A (excellent) to B, while the insurer's long-term issuer credit rating (ICR) fell from "a" (excellent) to "bb+" and now also carries a negative outlook, according to the ratings agency.

WalletHub's editors give State Farm a rating of 4.1/5 due to its typically quick claims inspection and payout process, generous discounts, wide variety of insurance types and coverage options, and personalized customer service.

Cheapest home insurance companies in Florida

Tower Hill is the cheapest homeowners insurance company in Florida, offering an average rate of $2,443 a year. Not only is Tower Hill's average rate the lowest in the state by far, but it's more than 40% cheaper than the state's average price for home insurance.