State Farm, an insurance company based in Bloomington, Illinois, follows Texas Farm Bureau in the list of the cheapest insurance existing in the state. Although the Texas Farm Bureau is a tenth more cheaper, State Farm offers more customizable options for their insurance costumers from collision coverage to even rideshare driver coverage.
State Farm started in 1922 as an AutoInsureSavings showing Texas Farm Bureau and State Farm being the cheapest and focused their service on farmers, and later on expanded their business to different insurances. Their logo showing three ovals represent auto, life and fire insurances; which are now replaced with three simple ovals for global competition.
Compared to the Texas Farm Bureau, State Farm offers options on auto insurance which includes collision, comprehensive, liability, car rental and travel expenses, uninsured or underinsured motor vehicle, medical payments, emergency road service and rideshare driver service.
The State Farm has a unique option on medical payments which helps customers in paying for medical bills in case an accident or death occurs. They also offer an emergency road service for breakdowns in the middle of the road without bothering how to pay for it. And finally, the rideshare driver coverage for Uber or Lyft drivers because the Transportation Network Company usually does not cover protection if the driver or the passengers gets injured.
The insurance rate of State Farm is evidently competitive with the offers of Texas State Bureau and other insurance companies. State Farm stands as the third cheapest insurance company among others with an average of $2,362 for 25-year old drivers, $2,009 for 30-year old drivers, $1,614 for 35-year old drivers, $1,245 for 40-year old drivers, $1,011 for 45-year old drivers and $845 for 55-year old drivers. The average insurance cost is less than one percent higher than Texas State Bureau, but it is pretty much a better deal given the various options which you can choose from to ensure your protection along the roads.
State Farm also collect a total premium of $547,875,321 with an increase of 3.4% every 18 months which is not bad for a company with a 4.4 out of 5 consumer rating.
Ultimately, the company lets you save more with their promos and add-on discounts, making sure that you are both protected with your insurance, and earning from your own surety in utilizing your own car for you and your family.