State Farm facts for kids
Logo from 2012 to present
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| Private | |
| Industry | Insurance |
| Successor | Desjardins Insurance (Canada) |
| Founded | June 7, 1922 |
| Founder | George J. Mecherle |
| Headquarters |
,
U.S.
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Number of locations
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19,000 agents 343 claim offices 30 operations centers |
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Area served
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United States |
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Key people
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Michael L. Tipsord (Chairman, |
| Services |
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| Revenue |  US$79.395 billion (2019) |
| US$5.593 billion (2019) |
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| Total assets |  US$294.82 billion (2019) |
| Total equity | US$116.23 billion (2019) |
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Number of employees
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57,672 (2019) |
| Divisions | Insurance; mutual funds; State Farm Bank |
| Subsidiaries | See What State Farm Does below. |
State Farm Insurance is a big group of mutual insurance companies across the United States. Its main office is in Bloomington, Illinois. It was started in 1922. Today, it is the largest company that provides property, car, and other types of insurance in the U.S.
Contents
What State Farm Does
State Farm is the largest provider of property and casualty insurance in the United States. This means they offer insurance for things like your home, car, and other belongings. They are also the biggest provider of auto insurance in the country.
State Farm is a very large company. It is ranked 42nd on the 2022 Fortune 500 list. This list shows the biggest American companies based on how much money they make.
State Farm uses special agents to sell its insurance. These agents work only for State Farm. They can only sell State Farm products.
Banking and Investing
State Farm also offers financial services. These include banking and mutual funds.
The State Farm bank started in 1999. It is a part of State Farm Mutual Automobile Insurance Co. This bank does not have physical branches. You can do your banking online or over the phone. You can also get help from a State Farm agent. They offer checking accounts, savings accounts, and home mortgages.
In the 1950s, a State Farm agent named Robert H. Kent had an idea. He suggested offering car loans to people who already had insurance with State Farm. This idea became very popular. State Farm then offered it to all its agents.
State Farm's Story
State Farm was started in June 1922 by George J. Mecherle. He was a retired farmer. He created a mutual car insurance company. This means the company is owned by its policyholders.
At first, State Farm focused on car insurance for farmers. They offered better prices than other companies. Over time, State Farm grew. They started offering other types of insurance. This included homeowners insurance and life insurance. Later, they added banking and financial services.
As of 2017, State Farm had 70,000 employees. They also had 19,000 agents. In 2014, they had 80 million policies in the U.S. and Canada. This included over 44 million car policies. They also had 27 million fire policies and 7 million life policies. More than 2 million bank accounts were also managed by State Farm.
Michael L. Tipsord is the current chairman and CEO of State Farm. The company announced in December 2023 that he will retire in 2024. Jon Farney, who is currently the chief financial officer, will take over.
By 2017, State Farm planned to close 11 offices in America. This was to make their work simpler and better. In 2014, they sold their business in Canada to Desjardins Group. Desjardins Group continued to use the State Farm name for a while. By 2018, State Farm Canada officially became Desjardins Insurance. The change was fully finished in 2019.
In May 2023, State Farm said it would stop selling new home insurance policies in California. This was because of the risk of wildfires. The costs for building repairs were also increasing.
State Farm Logo
The State Farm logo with three red, interlocked ovals was created in the 1940s. It was updated in 1953. This design showed the company's main services: car, life, and fire insurance. This logo was very important to their brand for almost 60 years.
On December 23, 2011, State Farm decided to change its logo. They wanted a more modern look. The new logo was introduced on January 1, 2012. This was to celebrate the company's 90th anniversary. The new logo has a simple three-oval design. It does not have words inside the ovals next to the "State Farm" name. The company wanted a bolder look for the digital world.
Subsidiaries
State Farm Mutual Automobile Insurance Company is the main company. It owns several other companies called subsidiaries. These companies help State Farm offer different types of insurance and services.
Some of these companies include:
- State Farm Fire and Casualty Company (for home and property insurance)
- State Farm Life Insurance Company (for life insurance)
- State Farm Bank, F.S.B. (for banking services)
- State Farm Investment Management Corp. (for investments)
Marketing and Promotions
Jingle
The famous State Farm jingle is "Like a good neighbor, State Farm is there." It was written by singer-songwriter Barry Manilow in 1971. The first commercial jingle for State Farm was created in the 1960s for The Jack Benny Program.
Television Ads
In June 2011, State Farm started its "Get to a Better State" ad campaign. These ads use humor to show common problems people face. They then show how easy it is to contact a State Farm agent to fix the problem.
In these commercials, people are in a tricky situation. Someone calls their State Farm agent by singing the jingle. Then, a State Farm agent appears as if by magic. They help the group solve their problem.
Also in 2011, State Farm launched its "State of..." advertising campaign. A famous commercial from this series was "State of Unrest." In this ad, a man is on the phone at 3 AM. His wife asks who he is talking to. He says, "It's Jake from State Farm." The original Jake was played by Jake Stone, a real State Farm employee. The wife then asks, "What are you wearing, 'Jake from State Farm?'" The agent replies, "Uh, khakis."
In 2020, Kevin Miles took over the role of Jake from State Farm. He appeared in a new version of the "State of Unrest" commercial before Super Bowl LIV. Kevin Miles's Jake wears a red shirt and khakis. He has appeared in many commercials with celebrities. These include Alfonso Ribeiro, Chris Paul, Aaron Rodgers, and Paul Rudd.
In 2023, State Farm was a top digital advertiser in finance. In 2024, State Farm's Super Bowl ad was chosen as the best ad by USA Today's Super Bowl Ad Meter. This ad featured Arnold Schwarzenegger and Danny DeVito with Jake from State Farm.
Sponsorships
State Farm sponsors many sports teams and events. They also sponsor buildings and programs. This helps them get their name out there.
Some of their sponsorships include:
- State Farm Stadium, a football stadium in Arizona. It is home to the Arizona Cardinals.
- State Farm Arena, a basketball arena in Atlanta. It is home to the Atlanta Hawks.
- State Farm Center, a sports arena at the University of Illinois.
- The State Farm Holiday Classic, a high school basketball tournament.
- The League of Legends Championship Series, a professional video game league.
- The Overwatch League, another professional video game league.
- All Elite Wrestling, a professional wrestling company.
Services
State Farm Safety Patrol – State Farm works with highway authorities in some U.S. states. They offer a service called the State Farm Safety Patrol. This service provides free help to drivers who are stuck on certain highways.
If a driver calls the Safety Patrol, they can get help with:
- Fuel refills
- Radiator refills
- Engine oil refills
Most Safety Patrol staff are also trained in CPR. They help reduce accidents and clear roads quickly. They also assist drivers whose cars have broken down. You can find these patrols on roads like Florida's Turnpike and the Pennsylvania Turnpike. In Ohio, State Farm safety patrol vans help on major highways in big cities during weekdays.
State Farm won a Webby Award in 2020 for its services in the Apps, Mobile & Voice category.
See also
In Spanish: State Farm Insurance para niños
- Desjardins Group
- Desjardins Insurance
- List of United States insurance companies
- State Farm Downtown Building
