State Farm Business Insurance 2021 Review: Pros, Cons and Coverage Options

State Farm offers a wide range of business insurance, but no online access for commercial customers.
Rosalie MurphyAug 24, 2021

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State Farm offers a variety of policies, from standard coverage like commercial auto insurance to specialized coverage like nonprofit directors and officers insurance.

State Farm may be a good choice for your business if you prefer a human touch. State Farm insurance policies are sold by a nationwide network of State Farm insurance agents. You can’t purchase a policy, or even get a quote, without talking to someone.

If you want to manage your business insurance online, consider other providers. State Farm business insurance customers don’t have online accounts, though a company spokesperson says it is currently piloting online functionality for some business owners. Instead, you’ll have to call your agent and handle things like claims-tracking over the phone.

State Farm offers the following , among others:

State Farm’s includes , , and equipment breakdown coverage. Professional liability coverage can be added.

The company also offers industry-specific packages that include the components of a business owner's policy along with additional specialized coverage.

For instance:

Notably, State Farm sells an umbrella policy that offers extra in increments of $1 million. This makes it easy to add protection as your business grows.

State Farm also offers group life insurance and retirement planning options for business owners and their employees.

provides protection for the vehicles you use while doing business. State Farm’s commercial auto policies include standard coverage, including liability, personal injury and medical payments, uninsured/underinsured motorist, comprehensive and collision coverage.

State Farm offers commercial auto insurance for cars, trucks, pickup trucks, vans and farm vehicles, among others.

Unlike most business insurance providers, State Farm offers as an add-on to its business owner's policy. The insurer also sells standalone professional liability coverage and includes it in many of its packages for specific industries such as barbering and cosmetology.

State Farm does not offer commercial insurance quotes online. Instead, you can fill out a quote request form with some basic information, including your name, address and what type of policy you’re looking for. An agent will follow up with a phone call or email.

Alternatively, you can enter your ZIP code to see a list of agents in your area and contact one directly.

State Farm agents exclusively sell State Farm insurance products and are paid on commission, which is the case for most insurance agents. As independent contractors, agents run their own agencies and hire their own employees, making them business owners themselves.

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State Farm commercial insurance customers can’t file claims online. Instead, filing a claim starts with a phone call to State Farm or to your insurance agent.

If you have to file a workers’ comp claim, State Farm offers a state-specific “claims kit,” which includes the forms you’ll need to fill out to report the injury to State Farm and to your state government.

Phone support is available, but the company encourages policyholders to contact their agents with questions.

The cost of commercial insurance can vary widely depending on your industry, location, claims history and what kind of coverage you need.

State Farm does not provide information about the average cost of its commercial insurance policies. To get a sense of how much coverage will cost, you’ll need to reach out to a State Farm agent.

NerdWallet recommends getting quotes from multiple business insurance companies to find the policy that best fits your needs.

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