Lilah Butler, Car Insurance Writer
@lilah_c
No, State Farm is not expensive; it’s an average price company. The insurance company’s premiums rank in the second quartile among the cheapest major car insurance providers that WalletHub evaluated, with an average cost of $1,112 per year. Your premium, however, will vary based on the coverage you select, your driving record and your area of residence, among others.
Categories Where State Farm Is Among the Cheapest Companies
| Category | Average Monthly Premium | Rank |
| Full coverage | $192 | 3rd cheapest |
| With Ticket | $90 | 5th cheapest |
| With 1 at-fault accident | $99 | 3rd cheapest |
| With DUI | $132 | 5th cheapest |
| Young drivers | $160 | 4th cheapest |
| Older drivers | $68 | 5th cheapest |
In a nutshell, State Farm is not a very expensive company but it’s also not the cheapest company. Although cost is a deciding factor when it comes to insurance for most people, our advice would be to see what your options are from multiple companies. After you decide on the type of policy you want to have, you can start comparing premiums and include costs in your final decision.
People also ask
Are State Farm insurance rates competitive?
Yes, State Farm insurance rates are competitive, as the company is one of the 10 cheapest auto insurers nationally, according to WalletHub analysis. State Farm car insurance customers pay an average of $718 per year for coverage. State Farm's car insurance rates are based on your driving record and experience, along with factors like the type of car you drive, your ZIP code, your insurance history, and more. Your coverage and deductible choices also impact...
read full answer by WalletHub, Financial CompanyWhat is the best car insurance for new drivers under 25?
The best car insurance for new drivers under 25 years old is from companies like Allstate, GEICO, Progressive, and Safeco. They are among the cheapest car insurance companies for drivers of all ages, both under 25 and older, according to WalletHub’s Cheap Car Insurance Report. These companies provide a variety of coverage choices at affordable prices, along with numerous discounts applicable to drivers under 25.
Best Car Insurance For New Drivers Under 25
read full answer by WalletHub, Financial CompanyDoes State Farm offer full coverage insurance?
Yes, State Farm offers full coverage car insurance. Full coverage from State Farm typically includes at least a state's minimum required car insurance coverage along with collision and comprehensive insurance to protect the policyholder's vehicle.
Full coverage car insurance from State Farm costs $3,514 per year, on average, and is more expensive than a liability-only policy since it provides more coverage.
Cost of State Farm Full Coverage by Driver's Age
| Driver | Annual Cost |
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