State Farm Insurance Historic Information

State Farm Insurance is a leading insurer of automobiles and homes in the United States and Canada. This large and successful company has small-town roots and an interesting history.

History

State Farm Insurance was founded by G.J. Mecherle in 1922. The former farmer believed that his rural Illinois neighbors drove less and posed fewer insurance risks than city drivers. Mecherle founded his own insurance company on the basis of providing fair and affordable rates for safe drivers.

Additions

State Farm began offering homeowner's insurance in 1955 and became the industry leader the following year. As they continued to lead the pack in auto insurance, the first drive-up claims center was opened by State Farm in Phoenix, Ariz. in 1960. The company began to offer Good Student Discounts for teen drivers in 1962.

Famous Ties

In 1971, then-unknown music composer Barry Manilow wrote the "Like a good neighbor, State Farm is there..." jingle.

Significance

Since its small-town beginnings, State Farm has gone on to become an insurance giant offering auto, life, health and home insurance, as well as mutual funds and annuities. State Farm is ranked as number 31 on the Fortune 500's largest companies list.

Fun Facts

To cut costs and increase efficiency, State Farm offices formerly used sewing machines instead of paper clips to attach policy documents together. Couriers were outfitted with roller skates to ensure speedy service and delivery.

References

• State Farm