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State Farm Insurance

Types of Insurance Coverage Offered by State Farm for Homeowners, Condo Dwellers and Renters

By Demir Barlas

State Farm History

Founded in 1922 as an automobile insurance company, State Farm has grown to become one of the largest multipurpose insurance companies in the United States. State Farm, headquartered in Bloomington, Illinois, currently has over 75 million policies in circulation. One of State Farm's established specialties is insuring real estate, which it has done since the 1940s. State Farm insures 15 million American homes, and offers coverage for condominiums and rental properties.

State Farm Policy Types

1. Homeowner's insurance: State Farm insures residential homes, home businesses and farms and ranches. Home businesses are insured against property damage, liability, loss of income and loss of records. Residential coverage includes protection against water damage and other home malfunctions, fire, vandalism and natural disasters other than floods. Flood insurance must be purchased separately. Also, a homeowner's policy charges deductibles for, and offers only limited protection against, the loss of personal articles such as jewelry, electronics, art and silverware. Personal-article insurance for such items must be purchased separately. Finally, State Farm offers premium discounts on houses with disaster survival features such as impact-resistant roofs. The company offers its own guide to disaster-proofing your home online at statefarm.com.

2. Condominium owner's insurance: State Farm's condominium insurance is different from a homeowner's policy. State Farm stipulates that condominium insurance does not cover:

  • Water damage resulting from flood or underground water
  • Earth movement, specifically earthquakes and mudslides
  • Damage resulting from settling, deterioration (for example, age-related deterioration) or contamination (including nuclear hazards)
  • Damage inflicted by birds, domestic animals and insects
  • Any bodily injury or property damage that you expect or intend
  • Business activity
  • Aircraft, motor vehicles and certain watercraft use

There may be other situations and activities not covered. Therefore, depending on their circumstances, owners of a condominium policy may wish to consider supplementary business insurance and/or personal liability insurance.

3. Renter's insurance: This policy is intended to protect renters from the perennial problems of fire, theft and vandalism. State Farm's renter's policy also includes a liability component that can protect you if you injure another person or cause damage to another person's property, even if you are not in your rental premises at the time.

State Farm's Costs and Fees

As with all insurance companies, State Farm's costs and fees vary depending on your specific situation. You can learn more by requesting automated quotes from State Farm's website at statefarm.com.

State Farm Claims Handling

State Farm offers both an online claims center and a "my policy" page that allow you to report claims electronically. Another way to file claims is to call or visit a local claims center. In special circumstances, State Farm creates special websites, such as the one created for victims of Hurricane Katrina. State Farm offers homeowners a detailed online set of directions on what to do in case of personal or property damage. Following these directions may help to expedite recovery of your claim.

State Farm's Contact Information

Contact local agents through the State Farm website.

LifeWire, a part of The New York Times Company, provides original and syndicated online lifestyle content. Demir Barlas has nearly a decade of experience in business writing and editing, marketing communications and online community building. He holds a BA from Cornell University and an MFA from UCLA Film School.

At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

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