Allstate insurance review: Reliable national provider with affordable rates

Video Allstate insurance review: Reliable national provider with affordable rates

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Bottom line: Allstate has a national presence and low rates in auto and life insurance. It also provides excellent customer service across various products.

Allstate insurance pros and cons

Allstate auto insurance offers affordable rates but customer satisfaction may be an issue

Allstate has been in business since 1931 and operates in all states. Allstate is the fourth largest auto insurance company based on market share in the US. It ranked #14 in J.D. Power’s auto claims satisfaction. Like most insurance companies, Allstate provides discounts for bundling your home and auto insurance.

Most auto insurers offer four primary coverage types: comprehensive, collision, liability (required by most states), and full coverage. Your lender may require comprehensive collision coverage if you lease and finance your car.

Allstate auto insurance quotes

Allstate auto insurance rates are relatively inexpensive, especially for drivers with a DUI, an at-fault accident on record, and a speeding ticket. It is also lower than the national average, according to data from Insurify — an independent insurance shopping tool.

Source: Insurify

Related auto insurance terms

  • Comprehensive coverage — Replaces or repairs your vehicle if stolen or damaged. It usually covers damage from theft, fire, vandalism, or falling objects.
  • Collision coverage — Replaces your car if you’re in a collision or accident.
  • Uninsured/underinsured motorist — Protects you if someone without or without enough car insurance hits you.
  • Liability coverage — Covers damages you cause to another vehicle and its passengers. State law usually requires drivers to have liability coverage; however, liability minimums vary by state.
  • Full coverage — A combination of liability, collision, and comprehensive car insurance.

Allstate’s auto insurance features and discounts

  • Roadside coverage — Covers the cost of standard roadside services like tire changes and jump-starts.
  • Rental reimbursement — Covers the cost of renting a car while your vehicle’s in the shop due to a collision or other insured loss.
  • Deductible reward — If you sign up, you’ll get $100 off your deductible, plus $100 each year you’re accident-free — up to $500.
  • New car replacement — If your new car is totaled, this addition allows Allstate to replace it — not just give you a check for the depreciated value.
  • Accident forgiveness — Even if it were your fault, an accident wouldn’t increase your rates.
  • Safe driver bonus — Add this to your policy to get a bonus every six months you’re accident-free.
  • Drivewise — A telematics-based app that measures your good driving habits — like safe speeds and stops — and rewards you for being safe behind the wheel.
  • Smart student discount — If you’re unmarried and under 25, you can save with a B or better.
  • Anti-theft discount — Save if there’s an anti-theft device installed.
  • Anti-lock brake discount — Save if your car is equipped with anti-lock brakes.
  • Multiple policy discount — Save on your auto insurance policy when you have multiple policies with Allstate.

Allstate homeowners insurance ranks high in customer satisfaction and offers a number of saving opportunities

Allstate is the second-largest homeowner insurance provider based on market share. It ranked #7 on J.D. Power’s homeowners customer satisfaction survey. Allstate also ranked #5 on Insider’s guide to the best homeowners insurance companies.

Allstate offers homeowners, condos, renters, and manufactured homes insurance.

Read more: Allstate Pet Insurance Review

Features include HostAdvantage if you use your home as a vacation rental, flood insurance, and identity restoration. Most of these features are available for an additional cost as an add-on to your homeowners policy. To obtain a homeowners insurance quote from Allstate, contact an Allstate insurance agent.

Homeowners insurance protects your dwelling, personal belongings, and offers personal liability coverage for injuries that occur on your property.

Related homeowners insurance terms

  • Dwelling coverage — Covers the cost to repair or rebuild your home.
  • Personal belongings coverage — Replaces lost, damaged, or stolen belongings. (Some items like jewelry, fine art, and high-end electronics require add-on coverage).
  • Personal liability coverage — Protects you when someone is injured on your property and sues you for damages.

Allstate homeowners insurance features and discounts

  • HostAdvantage — If you use your home for Airbnb or VRBO, get additional protection for your belongings while renting out your home.
  • Flood insurance — Cover physical damage to your home and belongings from floods or related losses from rising water.
  • Identity restoration — Goes beyond typical identity theft protection to show you your digital footprint so you can understand who has your personal information.
  • Protective device discount — Save when your home has theft or fire protection devices.
  • Homebuyer discount — Save if you purchase a newly constructed home, or if you’re a recent homebuyer.
  • Claims free discount — Save up to 20% when you switch to Allstate without a recent claim.
  • Responsible payment discount — Get a discount for on-time payments or payments in full.
  • Multiple policy discounts — Save when you bundle homeowners with auto insurance.

Allstate renters insurance is costly compared to its competitors

Allstate ranks #5 in J.D. Power’s renters insurance customer satisfaction survey. Allstate is also ranked in our guide to best renters insurance in 2022.

Allstate has discounts for bundling your policies, being a retired senior, and enrolling in its Easy Pay program. It also offers medical coverage for your guests and additional protection for identity theft.

Renters insurance will cover your personal property in the event of damage and theft. Your landlord is responsible for insuring the building and structure. A renters insurance policy has three main parts: personal property coverage, personal liability coverage, and “loss of use” coverage.

Allstate renters insurance quotes

According to the Insurance Information Institute, the average annual premium for renters insurance is $179 or about $15 per month. Allstate starts at $10 per month, making it a costlier option for renters insurance customers. Allstate is also a bit more expensive than its competitors GEICO and State Farm.

Related renters insurance terms

  • Loss of use — Covers temporary housing if your rental becomes inhabitable.
  • Special personal property floater — Extra coverage for high-value items like jewelry, art, collectibles, and some electronics if they are damaged or stolen.

Allstate renters insurance discounts and features

  • Multi-policy discount — Get a discount by bundling your auto and renters insurance policy.
  • 55 and retired discount — Receive up to 25% if you’re a retiree over 55 years old.
  • Easy pay plan — Enroll in Allstate’s Easy Pay Plan to receive a discount.
  • Guest medical coverage — This policy pays for necessary medical expenses if a guest is injured in your unit.
  • Identity theft restoration — This optional coverage pays for legal fees, loss of wages, and other expenses related to identity theft.

Allstate offers term, whole, universal, and variable life insurance

Allstate offers term and permanent life insurance products. Allstate offers level-term insurance for term life insurance policies, and whole, universal, and variable life for permanent life policies.

The two types of life insurance are permanent life and term life. Term life insurance will only cover a specific period. When your policy is up, you can reapply for coverage. However, premiums will most likely increase as you age.

Read more: Allstate Pet Insurance Top 3 List

Permanent life insurance never expires, has a death benefit for your beneficiaries, and a cash value you can use during your lifetime. Some financial advisors recommend a combination of term and permanent life insurance.

Allstate life insurance quotes

Allstate’s life insurance rates are inexpensive compared to Amica and Nationwide. However, it is important to consider other aspects like customer satisfaction and coverage options in your cost.

We gathered quotes for 40-year-old males and females, non-smokers, purchasing a 30-year term, $250,000 policy.

Related life insurance terms:

  • Term life — This policy covers you for a selected period of time. Premiums usually increase after your term is up. However, you may have the option of converting your term policy to a permanent life policy without a medical exam or lengthy application process.
  • Permanent life — This policy is more expensive than term life. However, it lasts your entire life, accrues cash value, and offers a guaranteed death benefit at level premiums. Permanent life insurance is made up of whole life insurance and universal life insurance.

Allstate life insurance features

  • Term life — Coverage lasts 10 to 40 years with an affordable payment and the option to switch to a permanent life insurance product.
  • Whole life — A permanent life insurance product that lasts your lifetime with a death benefit and cash value.
  • Universal life — A permanent life insurance product that lasts your lifetime with a death benefit and cash value based on interest rates.
  • Variable universal life — A permanent life insurance product that lasts your lifetime with a death benefit and cash value based on the stock market.

Allstate offers accident-only, accident and illness, and wellness policies

Allstate for pets covers both accidents and illnesses. It also offers preventative care for routine checks and exams. Genetic or breed-specific conditions are covered, so long as it’s not a pre-existing condition. Additionally, your pet must be under 14 years old to qualify for new health insurance. Speak to an Allstate insurance agent to determine whether your pet qualifies for coverage and to obtain a pet insurance quote.

Pet insurance usually offers two types of coverage: accident-only and accident and illness coverage. Wellness plans are usually available for additional purchase.

Accident-only coverage only reimburses the cost of injuries your pet suffers as a result of an accident. Accident and illness policies cover both accidents and sickness or diseases your pet develops after your policy begins. No pet insurance carrier covers pre-existing conditions.

Conditions covered by Allstate pet insurance

  • Accidents, and treatments for illness and disease
  • Cancer and chemotherapy services
  • Surgery, hospitalization, and nursing care
  • Lab work and diagnostic tests, including X-rays and MRIs
  • Medications
  • Genetic conditions^
  • Alternative therapies like acupuncture, hydrotherapy, and holistic and homeopathic medicine
  • Chronic and recurring conditions, like allergies, diabetes, and hyperthyroidism

Allstate vs. Statefarm

Allstate and State Farm are national carriers that offer auto, homeowners, renters, life, and pet insurance. State Farm ranks higher than Allstate across all products. State Farm also ranks No.1 in life insurance, while Allstate does not rank at all. When it comes down to auto, homeowners, and renters insurance, both are excellent providers, so you may opt to go with the cheaper option.

Allstate vs. Nationwide

Allstate and Nationwide are national carriers that offer auto, homeowners, renters, life, and pet insurance. Allstate ranks higher than Nationwide in homeowners, and auto insurance. However, Nationwide is superior in life insurance and renters insurance.

Is Allstate trustworthy?

Read more: Allstate Pet Insurance Review 2022 • Get Quotes • Benzinga

Among all policy types, the NAIC Complaint Index indicates that Allstate has significantly more complaints compared to other top insurance companies. The National Association of Insurance Commissioners (NAIC) is an insurance regulatory organization that protects consumer interests. The complaint index compares a company’s performance to other performance of other providers in the industry.

Allstate’s financial stability is good, with an A.M. Best’s rating of A+(Superior). AM’s Best is a credit rating agency that assesses an insurance company’s ability to pay claims to its policyholders. A company that receives an A++ to B+ is stable in financial strength, while anything lower than a B means that a company is unstable or unable to meet its financial obligations.

While Allstate is a legitimate insurance provider, it’s important to do your own research to ensure that Safeco is the right insurance company for you.

Frequently Asked Questions — Allstate insurance

How do I file a claim with Allstate?

If you recently had an accident, immediately call Allstate insurance to file a claim. The “QuickFoto Claim” feature on the Allstate mobile app will help expedite the claims process. After filing your claim, an Allstate representative will contact you for further instruction.

If you need to file a life insurance claim:

  • Call 1-800-366-3495 or download the form for life insurance claims.
  • Call 1-877-499-6418 for annuity claims.

How long will my Allstate claim take?

Allstate doesn’t give a definitive answer on their website, but you can contact an Allstate representative, and they will give you an approximate timeline for getting your claim processed.

Will my Allstate insurance premium increase if I file a claim?

If you file a loss, expect your premiums with Allstate to increase, like most insurers. Allstate can also choose to deny the renewal of your coverage for filing multiple claims.

Allstate cites a few factors that may increase your premiums:

  • External factors include government regulations or an overall rise in medical costs for claims.
  • Your prior claims, the type of claims you’ve made, and how long you’ve been with Allstate.
  • The coverages, limits, and deductibles you choose when purchasing or renewing a policy.

For more information please see the list of All state pet insurance

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