state farm utv insurance

state farm utv insurance

State Farm Insurance is a group of insurance and financial services companies. State Farm has remained the largest automobile insurer in the United States continuously since 1942 [1] and insures more cars and homes in the United States than any other insurer. [2]

The group's main company is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. The corporate headquarters are in Bloomington, Illinois.

State Farm is ranked 32nd in the 2008 Fortune 500, which lists American companies by revenue. [3] According to the Fortune Global 500, State Farm is also the world's largest mutual "P&C" (property & casualty insurance) firm; the only other P&C mutual in the Global 500 is Groupama in Europe. [4]

State Farm was founded in 1922 as a mutual automobile insurance company owned by its policyholders. Despite the company's name, State Farm did not initially begin as a crop insurance company. Specifically, State Farm specialized in auto insurance for farmers. Founder George J. Mecherle believed that since farmers drove less and had fewer losses than city drivers, they should pay less for insurance. His idea was popular with farmers and made his new company successful. Since its inception, State Farm has expanded its services into other popular types of insurance, such as homeowners and life insurance, in addition to banking and financial services. [1]

State Farm's well-known jingle ("Like a good neighbor, State Farm is there") was written by American songwriter Barry Manilow in 1971. [5]

State Farm has grown to include 67,000 employees and 17,000 agents servicing 77 million policies in the United States and Canada, and serving more than 1.9 million bank accounts. [2] As of the year 2005, State Farm is insuring about 40 million vehicles. [6]

Edward B. Rust, Jr. is chairman of the board and chief executive officer of State Farm Mutual Automobile Insurance Company, and president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company, and other principal State Farm affiliates.

On March 1, 2007, State Farm Mutual Automobile Insurance Company announced it will pay $1.25 billion in dividends to its mutual auto insurance policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick. [7]

State Farm Mutual Automobile Insurance Company also owns the other State Farm Companies: [1]

The One Thing UTV Owners Can’t Forget

Off-road recreational vehicles provide a fun way to explore the countryside. One popular model is the side-by-side, also commonly referred to as a UTV (or utility task vehicle). In addition to recreational purposes, these vehicles can be useful for work outdoors.

If you own a side-by-side or want to buy one, you may be curious about how to properly insure a UTV and what kinds of risks you may be faced with.

  • In 2009, more than 220,000 new UTVs were sold in the U.S.
  • The average cost of a new side-by-side ATV is about $15,000
  • UTVs can reach top speeds as high as 70 miles per hour
  • Roll-overs are the most common cause of UTV accidents

UTV insurance is a specialized off-road vehicle insurance policy designed for owners of side-by-side utility vehicles. It provides UTV owners with financial protection after accidents or collisions. More comprehensive policies also protect the owner’s investment by covering loss or damage to the vehicle.

Am I Required to Carry UTV Insurance?

Whether or not you are required by law to carry insurance on your UTV depends on what state you live in, where you will be riding your vehicle and what you use your ATV for. States that do require coverage almost always have a minimum liability insurance requirement.

If you are using your UTV for work related reasons, you may be required to carry commercial vehicle insurance and your coverage minimums may be higher than if you are only using it for personal use. Also, if you have financed your vehicle, your lender may require you to carry collision and comprehensive coverage for the life of your loan.

Not all states require insurance for riding on privately owned land, but many require insurance if you will be riding in state parks or other state-owned land. To find out what laws and minimum coverage requirements are pertinent in your state, consult a local independent agent in the Trusted Choice network who will be familiar with your state laws.

Whether or not you are required to have coverage, purchasing a policy could be a wise decision. Because these vehicles were designed to carry passengers, a collision or roll-over in your vehicle can result in injuries to you and others who are riding along. Without an insurance policy in place to protect you, you could find yourself in financial hardship from high medical costs and litigation.

You can choose from a variety of coverage options in your side-by-side UTV insurance policy. These options may vary by provider, so be sure to review the policy you are considering carefully.

  • Liability Coverage: Liability insurance protects you if you are at fault for an accident while operating your UTV. If the accident leads to injuries to your passengers or others, or causes property damage, your liability coverage will provide compensation for bodily injury expenses, lost wages and damage to property for those affected. In the event that a covered incident leads a lawsuit, your liability insurance can provide coverage for your legal fees and court costs.
  • Medical Cost Coverage: With this coverage, if you or any of your covered family members are injured while riding, regardless of fault, you may receive compensation for any corresponding out-of-pocket medical costs.
  • Collision Coverage: Collision insurance is similar to auto collision coverage, and will cover damages to your UTV if you should collide with another vehicle, object or if your vehicle is damaged in a rollover accident. This coverage is often required by lenders if you have financed the purchase of your UTV.
  • Comprehensive Coverage: The comprehensive portion of a policy is designed to provide compensation for losses or damage to your UTV from non-collision causes like fire, theft, vandalism, falling objects or “acts of God.” This coverage will often also include your ATV equipment and customized upgrades. Like collision coverage, many lenders will require you carry this coverage for the life of your loan.
  • Uninsured or Underinsured Motorist Coverage: This particular coverage protects you if you are in an accident caused by someone who does not have sufficient coverage to pay your injury and damage costs. Residents in states where ATV insurance is not mandatory may want to consider purchasing this coverage.

Many UTV accidents and injuries cannot be prevented. Most are caused by human errors like driver inexperience, reckless driving and carelessness. Following a few simple safety protocols can greatly reduce your risk of experiencing an accident while enjoying time on your side-by- side:

  • Always use proper safety equipment including seatbelts and DOT approved helmets.
  • Never operate your UTV under the influence of drugs or alcohol.
  • Keep arms and legs inside the vehicle at all times.
  • Avoid reckless or aggressive driving and abrupt maneuvers to prevent rollovers.
  • If the vehicle should roll, resist the urge to put your arm out to brace your fall. Instead, cross your arms over your chest and hold the seatbelt.
  • Know the weight limits of your vehicle and do not exceed them.
  • Never allow children under 16 to operate a side-by-side UTV.
  • Use common sense and know the limits of your vehicle and driving abilities.

In addition to following the safety tips listed above, you can learn several defensive maneuvers and tips for handling unexpected obstacles by taking an ATV safety course. Many courses are free or very low cost. These courses can save you from injury and can save you money on your insurance premiums.

On average, people pay about $25/month for their UTV insurance policies. However, there are many factors that can affect the cost of your policy, such as:

  • Your age and driving record
  • The make, model and year of your UTV
  • Where and how often you intend to ride your vehicle
  • Where and how your side-by-side is stored when not in use
  • How much liability insurance coverage you purchase
  • How much property damage insurance you purchase
  • Whether or not you select additional insurance coverage options
  • The amount of your deductibles
  • Whether or not you have received certification in an approved ATV safety course
  • The insurance company you choose

There are many factors that go into an insurance premium, so collecting quotes from several companies can prove beneficial when trying to save money. An independent Trusted Choice agent can help you compare quotes from several different insurance companies and choose the right coverage for your needs.

How Can I Get the Best Deal on UTV Insurance?

Comparison shopping for your side-by-side can help you find a policy with all the coverage you need at a competitive price. Most insurance professionals agree that you should get quotes from a minimum of three insurance companies before making a decision.

Your local Trusted Choice agent can simplify the process for you. After assessing your coverage and budgetary needs, an independent agent can contact several different insurance companies, provide you with quotes to compare, and help you find the best possible UTV insurance policy for your needs and budget.

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In terms of price, the cost of insurance will depend on the specific driver. All insurance companies selectively set their rates to attract drivers of the risk category they wish to insure. People outside of that category will pay substantially higher rates. Depending on your age and driving record, you may get a quote much higher from one company than another. The best way to compare the two companies is to see what features they offer that make them unique.

Founded in 1922, State Farm is the largest property and casualty firm in the world. It employs over 67,000 people and an additional 17,000 agents. It currently provides policies to 77 million people; of these, slightly over half are auto insurance policies. State Farm’s massive size has secured it a place in the top 50 Fortune 500 companies in the world.

Due to its massive size, State Farm has the ability to offer extremely competitive rates to people in its target demographic. In many cases, it outstrips the competition significantly. People outside of its target demographic may find its rates to be higher than they can get elsewhere.

There was a large lawsuit against State Farm in 2008 regarding the use of aftermarket parts and inferior repairs. Although the suit was eventually overturned, many people believe that the repair quality for claims has increased since this suit.

Pros of State Farm:

— All insurance matters, including claims, are handled by an agent.

— 10% safe driving discount if you drive for three years without any car accidents.

— 5% discount for enrolling in the “Drive Safe & Save” program

— High customer service rankings

Cons of State Farm:

— It’s difficult to file a claim after business hours due to the lack of a centralized claims department

— You need to get a new agent every time you move to a new area.

— Coverage is substantially more expensive in some states than others

State Farm has a JD Power ranking of four out of five and a customer service smart ranking of five out of five. Most State Farm customers are very happy with their policies, due in part to the close relationships they forge with their agents. Getting a good agent is vital to satisfaction with State Farm since that individual will be your primary contact for all matters related to your insurance.

Founded in 1931, Allstate is the second-largest insurer in the country. It employs about 35,000 people. Although it does sell numerous policies through agencies across the country, Allstate has an increasingly large focus on direct sales. Claims are mostly handled through claims centers, and customers can file over the phone, online or through their agencies.

Although Allstate is far from the cheapest insurance company, it is competitive with State Farm, and in some states it has more affordable policies. It also has a large number of discount programs that make it appealing to a wide variety of insureds.

In 2008, Allstate received criticism for not paying medical expenses related to claims. The insurance company insists that its practices are reasonable and that the allegations are unfounded.

— Your Choice Auto packages provide both accident forgiveness and deductible reduction rewards

— Up to a 30% discount for safe driving through DriveWise, Allstate’s pay-as-you-to insurance plan

— 24-hour claims service and online claims reporting

— A large network of preferred body shops to expedite repairs

— Inspections can take a long time to complete if you do not use an Allstate-approved body shop

— Lower customer satisfaction ratings than some other insurance companies

— Rates tend to be higher than many other insurers

Allstate ranks four out of five for customer service smart ranking and three out of five for JD Powers. The company has a higher rate of complaint than State Farm in many areas, due perhaps to the structure of the claims and customer service departments. Allstate outsources its customer service, and people who choose to purchase policies directly may have a more difficult time understanding what they’re buying than individuals who utilize agencies.

Overall: Which Company is Better?

The price of insurance will vary between states. For example, in Arizona, State Farm tends to be cheaper. In New York, Allstate offers more affordable policies. The Your Choice Auto program offered by Allstate is a very attractive option for people who want to save money in the event of an accident, but the 10% safe driving reward for State Farm may appeal more to people who do not foresee having any accidents.

Ultimately, the only way to decide which company is best for you is to obtain a quote from both companies. Be sure to speak with representatives or agents from each company to get an idea of what the customer service is like and whether you can connect with the company as a whole. Exceptional customer service may be worth a higher premiums cost for some people, so it’s worth weighing your options carefully rather than deciding upon a company based wholly on price. Allstate vs State Farm , 7.5 out of 10 based on 2 ratings

On March 31st, 2018 State Farm is disabling insecure encryption settings in order to keep you and your information safe. Your computer/device and browser is using insecure encryption settings.

For more information on what the insecure encryption settings are please access this 3rd Party URL:

Action is required to ensure you can continue to access ® in the future.

In the meantime you can try a different computer or device or call Customer Support at 1-800-782-8332 to file a claim.

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