Allstate Review

Allstate is one of the largest, most respected, and most experienced insurers in the United States. Read on for the Allstate version of our insurance company reviews.

Company Overview

Allstate Insurance Company was initially founded in 1931 by the Sears Roebuck company. Allstate remained a subsidiary of Sears until the 1980s, at which point Allstate shares were divvied up among Sears shareholders. Sears sold the remaining shares to the public. Currently, Allstate has 14,700 agencies and representatives throughout all 50 states and Canada. Allstate employs more than 70,000 people, over 58.8 percent of whom are women. Allstate offers home, car, life, and business insurance in addition to a variety of investment and banking services.

Insurance Rates and Discounts

Allstate's car insurance products include everything from traditional liability-only auto coverage to full coverage. Allstate offers policies on cars, motorcycles, boats, motorhomes, snowmobiles, and more. With regard to property insurance, Allstate offers homeowners, condo, and renters insurance. Allstate also offers all types of life insurance.

The discounts for which Allstate is best known are its good-driver discount, accident-forgiveness discount, and lower deductibles. Allstate drivers who remain accident-free will enjoy substantial discounts on their premiums the longer they go without making a claim. Allstate may also forgive a policyholder's first accident in certain cases. Finally, Allstate centers much of its marketing on its offering of more affordable deductibles without higher premiums.

Ratings and Awards

Allstate has always received excellent financial ratings from all major financial indexes. Currently, A.M. Best rates Allstate as "A+" (superior), Standard and Poor's as "AA-" (very strong), and Moody's as "Aa3" (excellent). Allstate did not fare as well on the 2009 J.D. Power and Associate's National Auto Insurance Study. Overall, the company earned a rating of just three out of five stars and received an abysmal two out of five stars on pricing.

Company Health

Although 2008 was a tough year for Allstate because of large losses in its investment portfolio and a higher-than-usual number of catastrophes, the company remained strong. The insurer did not require aid from the federal government despite these setbacks. Take a look at Allstate's financial report for more information.

How to File a Claim

You can file a claim with Allstate online or over the phone by calling 1-800-ALLSTATE. The claims phone number is available 24 hours a day, seven days a week. Unlike many other insurers, the Allstate claims line is staffed by real people, not automated recordings, 24/7. You can also file a claim by contacting your local agent.

Summary

Allstate's policies are notoriously pricey, and some policyholders claim that Allstate is reluctant to pay out claims. On the other hand, Allstate is one of the most respected and most financially stable insurance companies in the United States. If you're willing to pay a little extra for a company you can count on, consider Allstate when choosing an insurance company.