Headquartered in Northbrook, Illinois, Allstate has more than 12,000 agents across the entire U.S. Over the years, Allstate has solidified itself as a top insurer for millions of Americans and currently ranks either second or fourth in amount of premiums written for home and auto, respectively. It has innovative programs such as Drivewise®, an A+ (Superior) financial strength rating from AM Best and offers multiple online tools to simplify the policy purchasing process, such as its Allstate life insurance comparison page.
Although Allstate’s offerings span several sectors of the industry, breaking down the company by its three major insurance types and understanding how it scores competitively is a good place to start your research.
Allstate sells many different types of insurance, but the company is probably most widely-known for its auto insurance. The provider is the fourth largest car insurance company in terms of the number of policies written with 9.2% of the market share.
Allstate’s car insurance premiums are more expensive on average than national rates by anywhere from about $131 to $247 annually, but your rate may be more or less depending on your coverage and other personal factors.
Allstate auto insurance products cover all the basics, like collision coverage, comprehensive, and liability. But it also goes the extra mile with a variety of add-on coverages for more protection, including:
Allstate also excels at discounts. The company helps drivers save money on their insurance by offering the following discounts:
If you’re shopping for homeowners insurance, consider a policy from Allstate. The company was ranked as the sixth best home insurance company in the 2020 J.D. Power U.S. Home Insurance Study, which rated 23 insurance providers in terms of customer satisfaction.
Allstate policyholders generally spend $1,458 annually on their homeowners insurance premiums for $250K in dwelling coverage. This is almost $150 more expensive than the national average of $1,312 per year, but is still relatively competitive compared to other popular providers.
Allstate offers homeowners insurance that covers the standards: dwelling coverage, personal property coverage, liability protection and guest medical protection. But it also has a wide selection of add-on coveragesthat help you customize your policy, such as:
As with auto insurance, you may be eligible for multiple discounts as a homeowner if you buy a policy from Allstate. Here are some of the home insurance discounts that Allstate offers:
Allstate maintains a significant stake in property and casualty market share, whereas its position in life insurance is less significant. However, the company offers four types of life insurance policies, which it differentiates as either term life insurance or permanent life insurance.
Allstate sells term life insurance and whole life insurance. Here are the specific policies available:
Allstate’s term life insurancepolicies offer coverage for 10-30 years, with the option to select any term length you want, like 11 or 27 years. Term life insurance is the most affordable type of policy and is ideal for anyone who is looking for basic coverage.
Whole life insurance offers coverage for your lifetime. It has a guaranteed cash value and level premiums for the duration of your policy. When you pass away, your beneficiaries receive a tax-free death benefit which can be used for things like end-of-life expenses, supplemental income, and debt. Allstate’s policy offers at least $100,000 in coverage and earnings accumulated over time can be used to either buy more life insurance, save on premiums or reduce loan debt.
Allstate’s universal life insurance is a good policy for people who want flexibility. With this type of policy, you can adjust the death benefit overtime to match your family’s needs. There is a cash value component with two options—invest in an index fund with caps on gains and losses, or get a guaranteed annual return.
Variable universal life insurance is another type of policy that can be used as an investment vehicle. The policy builds cash value and you get the freedom to choose how that money is invested. Allstate’s variable universal life insurance has no gain or loss caps, meaning there is higher growth potential, but also more risk.
While Allstate currently offers life insurance policies, its continuation is uncertain as the company is reportedly planning to close the sale of one of its major life insurance entities by the second half of 2021. At the moment, the provider is still retaining ownership of its Allstate Life Insurance Company of New York.
Overall, Allstate has solid reviews and ratings across the board. Allstate car insurance ranked well across several regions in the 2020 J.D. Power Auto Insurance Studyfor customer satisfaction. Allstate was rated the best car insurance provider in Florida, and scored above average in the Southwest and North Central regions.
In the 2020 J.D. Power Home Insurance Study, Allstate scored 829 out of 1,000 points, which is above average. On the list of 23 home insurance providers, Allstate was ranked sixth.
The Better Business Bureau gives Allstate an A+ rating, but the number of complaints is high. In the last year alone, there have been 469 complaints closed. Customers give Allstate a one-star average rating, with many customers complaining about prices, claim issues, and poor customer service.
However, Allstate is very strong financially. The company has an A+ rating from AM Best, indicating superior financial strength. When you’re looking for an insurance provider, it’s important to look at financial strength because it reflects the company’s ability to pay claims, even in costly situations like natural disasters.
There are three ways to file a claim with Allstate: you can file claims online, through its call center at 1-800-ALLSTATE or with your local agent. With Allstate’s mobile app, available for iOS and Android devices, policyholders can track claims, contact an agent, access policy documents and request roadside assistance.
Another reason to consider Allstate is its generous portfolio of discounts, which can save you significantly on premium costs. Allstate’s multiple-policy discount makes its auto insurance a great option for people who have Allstate homeowners or life insurance. Parents of high school and college students can also take advantage of Allstate’s student discounts.
Car owners in regions where Allstate ranks among the top companies in J.D. Power insurance studies can rely on Allstate auto insurance as a reliable coverage choice. Consumers in regions where Allstate ranks low, or in locales where Allstate insurance reviews reflect poor performance, might choose to consider other companies.
One of Allstate’s most innovative features is its Drivewise® program. With Drivewise®, you download an app to your Android or Apple device. It tracks your driving habits and trip data, and then calculates a cash reward based on how safely you are driving. You can earn reward points for avoiding hard braking, maintaining a safe speed, and other smart driver habits.
In addition to auto insurance, we also found that Allstate has great home insurance policies, with a variety of customization options. We also recommend checking out Allstate’s life insurance coverage, especially if you can take advantage of multi-policy savings with a home or car insurance policy.
In addition to car, home and renters insurance, Allstate also offers: