Tag: State Farm

State Farm insurance company will soon offer LightStream lending products

Logan B.
Insurance company - New relationship, handshake

Through a new relationship the insurer has formed, agents will soon offer the consumer lending products. State Farm has announced that the insurance company recently entered into an agreement that will allow its agents to offer LightStream consumer lending products. This is a new offering with the Truist Bank premier online consumer lending division. Truist currently ranks as seventh largest in the United States among commercial banks. It currently serves over 15 million customers. The advantage of its LightStream is the capacity for consumers to gain solutions that complement those…

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State Farm boat insurance claims frequently involve small objects

Nordstrom
Boat insurance - Boat on water

Striking things under the surface of the water are leading to a rising amount of damage. State Farm recently released boat insurance data showing that striking floating or submerged objects are the leading cause of claims for the last five years. The insurer also released recommendations to help watercraft owners to avoid costly damage. While boat insurance is vital to have in case damage happens, what’s even better than having adequate coverage is not having to make a claim in the first place. State Farm is hoping that watercraft owners…

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State Farm releases poison prevention tips to reduce pet insurance claims

G. Turner
Pet insurance - poison prevention tips

The insurer published a number of safety recommendations to assist cat and dog owners. State Farm and Trupanion recently released a list of advice for pet insurance customers to help them to prevent accidentally poisoning their cats and dogs. There are many things that animal owners can do to help ensure poisons are kept well out of reach. The insurers recommend that pet insurance customers begin by looking around their homes and other areas where their furry family members will be spending time. They should try to spot potential dangers…

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State Farm wrote the most auto insurance premiums in the US, says NAIC

H. Cutner
Auto insurance premiums - car insurance

The National Association of Insurance Commissioners ranked the insurer in the top spot for 2021. According to the National Association of Insurance Commissioners (NAIC), State Farm took the top spot among auto insurance companies in terms of its written private passenger vehicle policy premiums. This ranking was released in the most recent NAIC Property/Casualty Market Share report. NAIC released its market share data for 2021 in the report, including nationwide direct written premiums for the largest 25 companies and groups as reported on the annual financial statement state page that…

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State Farm Insurance Companies announce their 2021 financial results

G. Turner
Insurance Companies - Financial Results

The insurers experienced record growth in home, auto and life policies last year. Last year, State Farm Insurance Companies brought in record growth in their home, auto, and life policies. In 2021, the insurer experienced record level growth in its auto business but earned premium dropped. Even though State Farm Insurance Companies experienced record growth in auto policies, it saw a year-over-year drop in its earned premium in that category. The falling auto premium is a continuation of the impact of its focus on bringing value back to customers in…

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