Allstate’s popularly known slogan, “You’re in good hands,” has been a staple since its ideation in 1950, but the insurance company’s history goes back as far as 1931 when it was first founded by General Robert E. Wood. For 90 years, Allstate has been writing insurance policies, including auto, home and life, and is now the fifth largest insurance company according to market share.
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 number 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 car insurance
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.
Cost of Allstate car insurance
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.
|Average annual cost for minimum coverage||Average annual cost for full coverage|
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:
- Accident forgiveness
- Sounds system insurance
- New car replacement
- Roadside assistance
- Rental car reimbursement
- Personal injury protection
- Rideshare coverage
Allstate also excels at discounts. The company helps drivers save money on their insurance by offering the following discounts:
- New car
- Smart student
- Anti-lock brakes
- Anti-theft device
- Early signing
- Responsible payer
- Automatic payments
- Paperless statements
- Pay in full
Allstate home insurance
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.
Cost of Allstate home insurance
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 coverages that help you customize your policy, such as:
- Identity theft restoration
- Water backup
- Scheduled personal property
- Business property
- Sports equipment
- Green improvement reimbursement
- Yard and garden
- Electronic data recovery
- Musical instruments
- Flood insurance (through NFIP)
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:
- Responsible payment
- Welcome and loyalty
- New home buyer
- Automatic payments
- Protective devices
- Early signing
Allstate life insurance
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.
Types of policies offered
Allstate sells term life insurance and whole life insurance. Here are the specific policies available:
Term life insurance
Allstate’s term life insurance policies 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
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.
Universal life insurance
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
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.
Allstate insurance ratings, reviews, customer satisfaction and complaints
|J.D. Power 2020 U.S. Auto Insurance Study||Varies by region|
|J.D. Power 2020 U.S. Home Insurance Study||829/1,000|
|Better Business Bureau (BBB)||A+|
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 Study for 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.
Reasons why Allstate is a great option
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.
Additional policies offered by Allstate
In addition to car, home and renters insurance, Allstate also offers:
- Renters insurance
- Condominium insurance
- Motorcycle insurance
- Business insurance
- Identity theft protection
- Boat insurance
- Landlord insurance
- Pet insurance
- Motorhome, ATV and snowmobile insurance
- Event insurance
Frequently asked questions
What do I need to get a quote from Allstate?
You can get an Allstate auto quote by submitting a request on the Allstate website or by contacting an Allstate agent. To provide a quote, an agent will need to know the make and model of your vehicle, your location, your age, the number of miles you drive annually and information about previous traffic violations, if any.
How do I file a claim with Allstate?
Allstate allows you to file a claim on its website, by calling its nationwide call center at 1-800-ALLSTATE or by contacting your Allstate agent.
Does Allstate offer discounts to current policyholders who need additional insurance?
Yes. If you already have Allstate homeowners, auto or life insurance coverage, you may qualify for reduced rates by bundling your policies.
How can I find a local Allstate agent?
The Allstate website provides an agent directory, which enables you to search for an agent by name, ZIP code or city and state. Or, you can call Allstate at 1-800-ALLSTATE.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Bodily injury liability per person: $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.