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Allstate insurance review 2022

Updated Nov 25, 2022
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Bottom Line

Policyholders who value digital capabilities, move throughout the country or need high-risk insurance might consider Progressive as their company of choice.

Pros

  • Multiple opportunities to save money on car insurance with teen driving discounts, Drivewise and Safe Driving Bonus
  • Wide variety of proprietary digital tools and apps to help Allstate policyholders understand their auto, home and life insurance policies and build a comprehensive plan
  • Policies available through extensive network of agents as well as online

Cons

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Headquartered in Northbrook, Ill., Allstate’s network of over 12,000 exclusive and independent agents provide localized expertise and has helped solidify Allstate as a top insurer for millions of Americans, with more than 113 million proprietary policies for home, auto, life and other insurance products. Customers who want to have all their insurance needs and financial planning managed in a single place may find Allstate to be a solution.

Understanding your insurance needs and building a financial plan can seem complex, but in the course of Bankrate’s Allstate Insurance review, we found the company has many tools to help make the process easier. Customers who want a balance between receiving personalized service from a local insurance agent and the ability to manage their policies online may find Allstate satisfies both these priorities. Although its premiums for home and auto insurance may be higher than average compared to other insurers, the company offers many discount and coverage options to save money on the financial protection you need. 

Allstate car insurance

Allstate car insurance received a Bankrate Score of 4.0 out of 5 possible points. To find the best car insurance companies, our editorial team reviewed how well the auto insurance companies performed in a variety of categories, including policy options, discounts and third-party ratings from industry agents like Standard & Poor, AM Best and J.D. Power, mobile app accessibility and other attributes. Although Allstate lost points for having higher-than-average premiums and scoring below industry-average by J.D. Power for customer satisfaction, its overall company financial strength rating by AM Best is A+ (Superior).

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Allstate’s high Bankrate Score was also helped by the types of car insurance coverage add-ons offered. To complement standard car insurance coverage and provide greater financial protection, drivers can add new car replacement, gap insurance and accident forgiveness. Among Allstate’s product offerings, drivers can even find classic car insurance and rideshare insurance to meet their needs.

Drivers can also save money with Deductible Rewards, which awards $100 off the collision deductible for every year of safe driving, up to $500. Allstate’s Safe Driving Bonus also allows drivers to earn a check in their bank account or credit to their car insurance policy for every six months without an accident. For those who want to be rewarded further for safe driving, Allstate offers Drivewise, a usage-based telematics program that gives drivers cash back and other rewards for passing safe driving challenges.

Allstate car insurance cost

The average cost of Allstate car insurance is $2,438 per year for a full coverage policy and $558 per year for minimum coverage, according to Bankrate’s 2022 study of premium data from Quadrant Information Services.

Allstate’s average rates are nearly 38% higher than the national average cost of car insurance, which is $1,771 per year. However, keep in mind that the rates below are national average and most useful for comparison purposes. Premiums will vary based on multiple car insurance rating factors.

Allstate average annual full coverage premium National average full coverage premium
Clean driving history $2,438 $1,771
Speeding ticket conviction $2,893 $2,138
At-fault accident $3,149 $2,521
Adding a 16-year-old driver $3,639 $3,852

*16-year-old rates include a male or female 16-year-old and their married parents on one policy. 

Allstate car insurance discounts

Lowering your car insurance can be done by comparing multiple insurers to find the best rate for your current circumstances, keeping your driving record clean and by taking advantage of insurer discounts. Some of Allstate’s unique discounts include:

Allstate car services

Allstate updates customers with many special offers through its Good Hands website. Whether you are looking to buy or trade in your car, perform routine maintenance or add additional accessories to your car, Allstate has partnered with companies like TrueCar, Rategenius, AutoZone, Valvoline, Sirius XM and more to receive discounted services and products.

Allstate home insurance

Allstate home insurance may be a good option for homeowners who want a variety of add-on home insurance options to tailor a policy to their needs and lifestyle. On top of standard home insurance coverage like dwelling, personal property, loss of use and liability, Allstate customers can include water backup coverage, sports equipment, electronic data recovery and even business property for items required for your business stored at home. Home-sharing participants can purchase Allstate HostAdvantage, which offers extra protection for personal belongings stolen or damaged by renters.

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For new customers who are also claims-free, Allstate offers a discount and a Claim-Free Bonus, which gives a 5% rebate on the renewal premium every year there is no claim. However, homeowners worried about a potential claim have an additional solution. Allstate offers Claim Rateguard, which can be purchased to ensure their premium won’t be affected because of filing a single claim over a five-year period.

Allstate home insurance cost

At $1,300 per year for $250,000 in dwelling coverage, Allstate’s home insurance costs slightly below the national average cost of homeowners insurance. On average, most U.S. homeowners pay around $1,383 per year for the same amount of dwelling coverage.

Dwelling coverage limit Allstate average annual premium National average annual premium
$150,000 $976 $980
$250,000 $1,300 $1,383
$350,000 $1,817 $1,887
$450,000 $2,259 $2,351
$750,000 $3,208 $3,414

 

Allstate home insurance discounts

Like many of the best homeowners insurance companies, Allstate’s home insurance discounts could help policyholders save significantly on the premium. Some unique discounts from Allstate include:

Allstate home services

Whether you are moving into your new home or looking to make your current home safer, Allstate has partnered with a number of companies to make moving and home upgrades easier. Allstate customers can receive up to 20% off a rental from Budget Truck Rental and up to 10% off PODS services. Once settled in, you can receive up to $50 off a purchase of $499 or more when buying home appliances, electronics and furniture from the Abt store.

To help with home maintenance, Allstate customers could receive a free one-year subscription to Home Concierge by HomeAdvisor. This service connects homeowners with professionals who can help with anything from gardening to landscaping to installing and repairing roofing, appliances, faucets and pipes, as well as services such as electrical work.

Allstate has also developed several digital tools to help homeowners protect their homes. Digital Locker is an Allstate mobile app that allows you to take inventory of your personal belongings, and GoodHome is a tool that collects information about nearby home claims, weather forecasts and public records for homeowners to reference. Allstate also has a Premium Gauge tool to help homeowners understand what factors are impacting their premium.

Allstate life insurance

With different policy types available, Allstate life insurance can help provide financial security for a variety of needs, including college tuition, taking care of future generations and covering for outstanding debts. Allstate offers term life insurance, as well as three different types of permanent life insurance: universal life for flexible protection, whole life for fixed premiums and variable life insurance for investment options.

While term life insurance policies are typically in place for 10 to 30 years, depending on your coverage choice, it does not build cash value that policy owners can leverage during their lifetime. On the other hand, permanent life insurance does not have a fixed coverage term and builds cash value over time.

 

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Allstate life insurance endorsements

While Allstate does not list the specific endorsements available for its life insurance policies, an Allstate agent can help you with understanding what policy options are available and recommending what may be best for your personal and financial goals.

Allstate life services

Guidance from a licensed agent or financial planner could be key in finding the best life insurance. Allstate’s personal financial representatives can help with building a financial plan to take care of your life insurance, retirement and investment accounts. Customers can also use Allstate’s LifeTrek and My Money tools to pinpoint their financial goals, understand the variety of products available and inform future discussions with a financial planner.

Other Allstate perks worth considering

Allstate’s diverse product offerings give customers an opportunity to have all of their insurance and financial needs met in a single place. These perks include:

  • Investment planning: Allstate’s financial representatives can also assist with 529 college savings plans, annuities, mutual funds, individual retirement accounts (IRAs) and workplace retirement plans. Allstate partners with several third parties – including American Funds, Franklin Templeton Investments, Fidelity, Equitable, Prudential, Protective and Lincoln Financial Group – to offer customers annuities, mutual funds and individual retirement accounts (IRAs).
  • Renters insurance: Renters can use this policy to help insure their belongings and provide liability and loss-of-use coverage.
  • Condominium insurance: This policy is specifically for condominium unit owners who need coverage for the interior of their unit.

Allstate corporate sustainability

The Allstate Foundation supports a variety of causes including diversity and inclusion efforts. These efforts focus on inclusive hiring by partnering with organizations like Society of Women Engineers, Recruit Military and National Association of Black Accountants. Allstate also focuses on youth empowerment and relationship violence prevention, recently investing $3 million in programs that advance these causes.

In partnership with Northwestern University Kellogg School of Management, the Allstate Foundation helps further the education of non-profit leaders. Through the Helping Hands program, Allstate agency owners and employees who volunteer 4-16 hours can earn $500 to $1,000 towards the organization of their choice.

Not sure if Allstate is right for you? Consider these alternatives

While Allstate has several useful offerings, the company may not be the right fit for each person. It may be helpful to compare Allstate to other national insurers, a few of which are listed here:

  • AAA: AAA is another large insurance carrier offering affordable home and auto insurance options as well as membership perks.
  • Safeco: Depending on the characteristics of your home, Safeco could be worth a look, as it offers a robust selection of coverage endorsements for both home and auto insurance.
  • State Farm: Like Allstate, State Farm is also built on a local agency model, which may be ideal for those looking for personalized or localized service.

Methodolgy

Bankrate utilizes Quadrant Information Services to analyze 2022 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:

Auto

  • $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 coverage that meets each state’s requirements. Our sample drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and a single DUI conviction.

Homeowners

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $500,000
  • 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.

Bankrate Scores

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers and homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car and home insurance companies satisfy these priorities, third-party agency ratings from J.D. PowerAM BestS&PNAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers and homeowners, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry, as well as 40-year-old male and female homeowners with $250,000 in dwelling coverage. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers and homeowners may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

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