State Farm lets policyholders receive insurance claim payouts via PayPal

Insurance claim payouts - PayPal app on phone

The new option is a broadening if the insurer’s Digital Pay solution enabled by Fiserv’s Carat. The largest home and vehicle insurer in the United States, State Farm, has announced that it is expanding the insurance claim payouts options available through Digital Pay so that they can be instantly received in a policyholder’s PayPal account. Digital Pay allows customers to have their claims reviewed, approved and paid online. When filing through Digital Pay, policyholders have the opportunity to choose from among several payment methods for insurance claim payouts. These transaction…

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Homeowners insurance reminder issued by State Farm about multiple claims

homeowners insurance policy multiple claims

The insurer released this statement because many policyholders feel it should work like a bank account. State Farm has issued a reminder to homeowners insurance policyholders to help them to keep in mind that a policy is not the same as a bank account, so the premiums being paid are not an amount that is being amassed so that it will be guaranteed to be available later on. The statement was made in response to many policyholders’ shock when it didn’t function as a savings account. This has become quite…

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