State Farms Market Share - How'd It Get There

insurance1822

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Does anybody understand how they got SO far ahead? It's my understanding that's it's simply a function of time & being around the longest. Surely, it's not on price or coverage
 
Not to hijack your thread but I took a home and auto from them yesterday.

Guy was building a house and their home under construction endorsement apparently doesn't provide theft of building materials coverage? Anybody know if this is true? They also have a cosmetic damage exclusion on metal roofs?

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I will add that they do a phenomenal job on young people. Cant touch their premium on under 25 with mediocre credit.
 
Not to hijack your thread but I took a home and auto from them yesterday.

Guy was building a house and their home under construction endorsement apparently doesn't provide theft of building materials coverage? Anybody know if this is true? They also have a cosmetic damage exclusion on metal roofs?

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I will add that they do a phenomenal job on young people. Cant touch their premium on under 25 with mediocre credit.

I am not stating an opinion but asking a question. I didn't think there was any coverage for incompleted work under a home owners policy? I thought that required something like builders risk? Please educate me?
 
State Farm is a household name and they did a great job developing that over the years through proper marketing and decent claims service. In a lot of states anything outside of having State Farm is considered crap so people buy it regardless of price.

In our state they have the most auto marketshare followed by a close Erie. If Erie did any sort of marketing I'm sure we would of taken them.
 
some companies allow you to add an endorsement essentially building under construction which is essentially a builders risk policy that the homeowner can buy. Not all contractors carry builders risk policies on everything they build.
 
In Metro-Detroit, my eyes light up when a lead tells me they have SF. Their rates are brutal around here. They just market hard, commercials, banners at sporting events, ESPY's, theyre everywhere. I think they are on to something with their push for financial services and banking. Great cross selling opportunities.
 
They're highly competitive on rate here. Sure, I've beaten them my fair share of times as no one can be the best all the time, but more often than not they're right in the mix. They are the only carrier that has been consistently so the past several years - everyone else is always up and down.
 
One Source:

State farm Total PL Market share Nationwide in 2012: 28.85%

Next closest: Allstate 17.92


Ins1834 is a B!tc#!


Killer LR's that year too. (Odd that was a bad year for the industry!)
 
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Shawn - I'm a retail agency owner who operates under essentially an anonymous screen name. Thus, I can get away with being snide & unprofessional.

You represent PGI. You represent a collective of (I believe..) over 350 agencies. I'm disappointed in your judgement to use profanity as it doesn't reflect well.
 
Does anybody understand how they got SO far ahead? It's my understanding that's it's simply a function of time & being around the longest. Surely, it's not on price or coverage

When Katrina hit, they had 38% of the market share and got killed. They are reducing their coastal market shares as quick as they can w/ out pissing off state commissioners.

To answer your question- it is blind stupid generational loyalty. "My daddy has them for 40 years, so I went to daddy's agent". You got to give it to them for creating it... To bad they are not as loyal to their customers as their customers are to them.
 
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