Smart Auto Insurance Blog

We haven’t been hearing too much about the successes of a variety of industries during this economic downtown, but good news out there for some auto insurance companies.  According to the article “State Farm Profit Double” found on KansasCity.com, State Farm seems to be doing pretty well.

State Farm Auto Insurance Co., the largest US home and car insurance company, reported full-year profit more than doubled as underwriting losses were narrowed.  Net income for the year 2010 increased to $1.8 billion from $777 million the previous year.  The insurance company is owned by policyholders and reports results every year.

Chief Executive Officer Ed Rust leads State Farm which was helped by some debt relief and equity markets as well as a relatively mild hurricane season.  A rebound policy sales overall in addition to an increase in personal auto and home coverage rose revenue at US property-casualty insurers.  As we start 2011, State Farm expects to continue doing well and is working hard to ensure this is the case.  In today’s economic environment, this is great to hear.

JD Power recently released Auto Insurance Provider Ratings report in the 2009 National Auto Insurance Study.  They ranked various auto insurance companies and State Farm Auto Insurance ranked very well.

In the category of overall satisfaction State Farm received the score of “better than most”.  This is based on how customers rate all aspects of their service experience with the insurer.  In the category of contacting the insurance company State Farm received the ranking of “among the best”.  This is great to know when shopping around since you need your insurance company the most during stressful times and you do not want to worry about not being able to get in touch with them.

In the category of policy offerings State Farm ranked “better than most” and they received the same ranking in billing and payment.  Billing and payment scoring is based on how customers rate the clarity, timeliness, and accuracy of their bills as well as the overall payment process.  Using this type of report when you compare auto insurance quotes can be extremely useful to see who is coming out on top.  It can save you a lot of time to have all the information on one useful chart.  Visit JD Power’s site for more detailed information on the rankings.

State Farm, a leader in life, homeowners, and auto insurance, continues to have a successful marketing relationship with basketball superstar, LeBron James.  According to State Farm’s website, in their newsroom article, State Farm is part of an integrated campaign supporting the company’s sponsorship of LeBron’s new documentary “More Than a Game”. 

This Lionsgate documentary tells the true story of five gifted basketball players, one of which is LeBron James who plays for the Cleveland Cavaliers and won 2009 NBA MVP.  It documents their true and unique story growing up in Akron, Ohio.  It opens in select cities October 2. 

There is going to be a commercial airing on TV, the Internet and in theaters called “Memories” to promote the film.  There is also a link set up on State Farm’s page where fans can view behind the scene footage as well as scenes never seen before.  State Farm is very excited about this movie and they believe that James’ inspirational story transcends sport.

State Farm Insurance, which carries many different types of insurance including auto insurance and health insurance, is giving the nation a challenge.  It’s a challenge to lose 50 million pounds across the country according to the article “Insurance agency challenges Americans to lose weight” on wqow.com. 

State Farm agent Bob Johnson states that the healthier you are the less you see the doctor which will ultimately affect your insurance rates.  Not to mention if you are healthier and take good care of yourself you will live a longer, more quality life. 

Registration is online and participants can track their progress as well as get tips on how to lead a healthier life.  State Farm is offering a kit as well which includes a pedometer and an information booklet.  This is a great example of insurance companies supporting a greater cause.  pivemrg678