Country Financial Vs. State Farm: Choosing Insurance Providers

When it comes to insurance, Country Financial and State Farm are two of the biggest names in the game. Both companies offer a wide range of insurance products, from auto and home to life and business. But how do you know which provider is the better fit for your needs?

In this comprehensive guide, we’ll compare and contrast Country Financial and State Farm to help you make the right choice. We’ll look at factors like financial strength, customer service, coverage options, discounts and more.

By the end, you’ll have the information you need to confidently pick the insurance company that’s right for you.

A Brief Comparison Table

CategoryCountry FinancialState Farm
Financial Strength RatingA (Excellent)A++ (Superior)
Size#43 on Fortune 500#25 on Fortune 500
Annual Revenue$19 billionOver $60 billion
Auto DiscountsGood driver, anti-theft, bundlingGood driver, defensive driving, usage-based, bundling
Home DiscountsBundling, multi-policy, protective devicesMulti-policy, protective devices, claims-free
Customer ServiceLocal agents, fast response timesLargest agent network in U.S.
Coverage OptionsStandard policies onlyBroad range of mainline & specialty policies
Average RatesMiddle-of-the-roadLow for excellent drivers, high for accidents

Company Overviews

First, let’s take a high-level look at each insurance provider.

Country Financial
Country Financial

Country Financial

  • Founded in 1925, Country Financial is an Illinois-based mutual insurance company. They offer auto, home, life, business, farm and crop insurance.
  • Country Financial sells insurance through an exclusive agency force of over 1,400 agents across 17 states. Their largest markets are in Illinois, Texas and Ohio.
  • The company is rated A (Excellent) by A.M. Best for financial strength.

State Farm

  • State Farm is the largest property and casualty insurer in the U.S. Founded in 1922, they offer auto, home, renters, life, health and business insurance.
  • State Farm employs over 65,000 people, including nearly 19,000 agents nationwide. They operate in all 50 states and have served over 84 million policies and accounts.
  • State Farm holds an A++ (Superior) rating from A.M. Best, showcasing its exceptional financial strength.

So while both companies have great financial track records, State Farm edges out Country Financial in terms of size, scope and ratings.

Also Read: Differences Between Combined Insurance And Aflac.

Auto Insurance

Auto insurance is likely where you’ll have the biggest difference in cost and coverage between Country Financial and State Farm. Let’s see how they stack up.

Country Financial Auto Insurance

  • Offers standard coverages like liability, collision, comprehensive, medical payments and uninsured/underinsured motorist. Rental reimbursement and roadside assistance are also available.
  • Policyholders can save by bundling auto with home or life insurance. Other discounts include good driver, anti-theft devices, paying in full and more.
  • Customers cite good customer service and reasonable rates as positives. Downsides are limited coverage options compared to competitors. Only basic usage-based plans are offered.

State Farm Auto Insurance

  • Provides all standard auto coverages plus rideshare coverage, roadside assistance, rental car reimbursement and travel expenses.
  • Policyholders can save with discounts for safe driving, good student, defensive driving courses, multiple cars/policies, Drive Safe & Save program and more.
  • Reviewers highlight large agent network, strong financial backing and variety of discounts as advantages. Base rates tend to be higher than some other leading insurers.

For auto insurance specifically, State Farm is likely the better choice for most drivers. The usage-based Drive Safe & Save program can help conscientious drivers save a lot. Country Financial lags when it comes to discounts and coverage choices.

Home Insurance

Next let’s compare Country Financial and State Farm’s offerings for homeowners insurance.

Country Financial Home Insurance

  • Provides standard HO-2, HO-3 and HO-5 policy options plus extras like identity theft, equipment breakdown and water backup coverage.
  • Discounts offered for bundling home with auto or life insurance, multi-policy, claims-free history, protective devices and more.
  • Policyholders praise good customer service and ease of bundling for savings. However, some say rates increased significantly at renewal time.

State Farm Home Insurance

  • Offers HO-2, HO-3, HO-5 and HO-8 policies. Additional coverages include personal liability umbrella, earthquake, jewelry, home inventory and water backup.
  • Home insurance discounts include multi-policy, protective devices, claims-free history, new home and more.
  • Reviewers highlight large agent network, strong financial backing and available discounts. Base rates can be higher than some competitors.

For homeowners insurance, the providers are more evenly matched. Both offer similar discounts and base coverages. State Farm once again stands out for its broad agent availability and highly-rated financial strength.

Customer Service

A big factor in choosing an insurance provider is customer service. How do Country Financial and State Farm compare?

Country Financial Customer Service

  • Policyholders work with a local Country agent for service. This provides a more personalized, relationship-based approach.
  • Most reviewers say Country’s customer service is excellent. They highlight local agent accessibility and fast response times.
  • Contact options include calling your agent, contacting customer service or mailing information to corporate offices. There is no online chat currently available.

Also watch the video!

State Farm Customer Service

  • Like Country Financial, State Farm relies on local agents to provide personalized service. The large network means more agents to choose from.
  • Reviewers praise State Farm’s customer service. Many reviewers say service is fast and helpful when they reached out to their agent.
  • Customers can contact State Farm by phone, email, mail or in person. There are tens of thousands of agents nationwide to provide local assistance.

When it comes to customer service, policyholders seem very satisfied with both Country Financial and State Farm’s approaches. The main advantage State Farm offers is the sheer size of its agent network, giving you more choices to find a great local representative.

Cost And Discounts

Pricing and discounts are another key consideration when selecting insurance. Here’s how costs compare:

Country Financial Cost and Discounts

  • As a smaller, regional insurer, Country Financial offers competitive base rates on average. However, pricing and discounts can vary significantly by state.
  • Multi-policy, safe driver, and claims-free discounts provide the biggest savings opportunities for most customers.
  • Policyholders report average pricing, with some seeing rates increase over time even without claims. Overall, costs are very middle-of-the-road.

State Farm Cost and Discounts

  • As the largest insurer, State Farm offers appealing rates for drivers with excellent records. However, policyholders with claims often pay higher prices.
  • The Drive Safe & Save program provides the biggest auto discount opportunity. Home insurance discounts like multi-policy and Claim-Free Bonus help lower rates.
  • Drivers with accidents face much higher rates at State Farm than Country Financial on average. But very safe drivers can often secure lower prices.

For cost and discounts, Country Financial generally offers more consistency. State Farm has bigger highs and lows, with excellent drivers saving more but higher risk drivers paying more too.

Coverage And Plan Options

The range of coverage and plan options is another essential consideration when picking insurance.

Country Financial Coverage and Plans

  • Offers standard auto and home insurance plans only. Additional coverages like rideshare and identity theft available at added cost.
  • Usage-based “Driveology” program offers modest savings based on actual driving data. However, it lacks capabilities of competitors’ programs.
  • Flood insurance can be added in high-risk zones. No specialty options like classic car or jewelry insurance are offered.
  • Overall, coverage offerings are basic. Only major lines like auto, home and life insurance are available.

State Farm Coverage and Plans

  • Provides a wider range of mainline policies like rental, boat, motorcycle and RV insurance. Specialty options are also available.
  • Auto policyholders can use Drive Safe & Save usage-based program to potentially earn largest savings.
  • Many additional coverages like rideshare, earthquake, personal liability umbrella, identity protection and more can be added.
  • State Farm offers all major types of insurance plus specialty policies and robust usage-based programs. Much greater variety of plans.

State Farm is the clear winner when it comes to variety of coverage. Country Financial lacks any real niche or specialty options beyond the basics.

Financial Strength

With insurance, financial strength ratings should always be considered. Here’s how the two compare:

Country Financial Financial Strength

  • Country Financial is rated A (Excellent) by A.M. Best. This indicates very strong ability to meet claims-paying obligations.
  • As a smaller company, Country Financial holds less policyholder surplus than top insurers. However, its balance sheet remains very solid.
  • Written premium has declined slightly in recent years. The insurer maintains excellent capitalization though.

State Farm Financial Strength

  • State Farm holds an A++ (Superior) rating from A.M. Best. This is the top rating assigned and demonstrates State Farm’s unmatched financial strength.
  • With over $100 billion in policyholder surplus, State Farm has by far the strongest finances in the insurance industry.
  • The company continues to grow, writing over $60 billion in premiums in 2020. Its balance sheet is impeccable.

When it comes to financial strength and claims-paying ability, State Farm is in a class of its own with its A++ rating and massive surplus. Country Financial is still quite strong but can’t match State Farm’s financial standing.

Also Read: Choose Between Cigna And CareFirst.

Frequently Asked Questions (FAQ)

Is Country Financial a reputable insurance company?

Yes, Country Financial is a reputable and financially-strong insurer. The company holds an A (Excellent) rating from A.M. Best, indicating very high financial strength and ability to pay claims. Country Financial has over 90 years of experience serving policyholders as well.

Who is State Farm’s biggest competitor?

State Farm’s biggest competitor is Allstate. Allstate is the second largest home and auto insurer behind State Farm. While smaller than State Farm, Allstate has over $50 billion in annual revenue and touts strong financial ratings as well. Other major competitors include Progressive, Geico and USAA.

What is the best alternative to State Farm?

For drivers looking for an alternative to State Farm, top options include Allstate, Progressive and Geico. All offer competitive rates plus robust usage-based discounts that may beat State Farm pricing. Geico specifically tends to offer lower base rates on average. Allstate provides very strong coverage options similar to State Farm.

What is country financial ranked?

Country Financial is ranked #43 on the Fortune 500 list of largest U.S. companies by revenue. The insurer brought in over $19 billion in revenue in 2021. Country Financial also holds an A (Excellent) rating from A.M. Best, indicating it has very high financial strength. While not the largest, Country Financial remains a leading insurance provider.

Also Read: Is Hippo Insurance Better Than State Farm?

The Verdict

So, when it comes to Country Financial Vs. State Farm, which insurance provider is the better choice?

Here are a few key considerations when deciding:

  • State Farm typically beats on price for extremely safe drivers thanks to usage-based discounts. But for higher risk drivers, Country Financial may be cheaper.
  • State Farm has far more coverage and specialty options. Country Financial focuses on just the basics.
  • Country Financial offers a more personalized approach through local agents. But State Farm’s vastly larger network provides even more agent choices.
  • State Farm’s financial strength is superior. Both companies have strong ratings, but State Farm is in a league of its own.

In summary, State Farm is likely the better option for most customers due to competitive pricing, unmatched financial strength and a much wider range of available coverages. However, Country Financial still beats many national competitors with solid customer service and reasonable rates.

So, consider your own individual needs, budget and preferences. And consult with agents from both insurers to see specific pricing. While State Farm may make sense for many, don’t count Country Financial out either.

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