State Farm Insurance was founded in 1922 by George J. The company began as an automobile insurance firm that was owned mutually by its policy holders. Mecherle had previous experience selling insurance; however he felt that opportunities existed in selling insurance to farmers. He felt that statistically farmers were less likely to be involved in an auto accident compared to an urban customer; therefore they should be charged less. This was unique thinking at the time and with this idea, State Farm was founded. .
The company grew quickly and in 1928, the company was decentralized into branch offices, a new concept at the time. This allowed customers to have more continent access to their insurer. Today, there are 755 claim offices of this type. .
Today, State Farm is the largest automobile and private home insurer. However, the company is much more than simply insurance. Today State farm is involved in personal banking, such as credit cards, checking accounts, etc. The company is heavily involved in automotive and mortgage loans and leases. State farm also manages two mutual funds. .
State Farm currently has almost 17,000 agents with over 70,000 employees. Currently, 1/5 auto policies in America are insured by State Farm. The company also is one of the largest life insurers in the U.S. .
State Farm continues to offer excellent service. Nearly half of the employees are directly related to claims, thus insuring fast and accurate processing. State Farm also continues to be ranked highest in claims satisfaction by JD Power and Associates. .
