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Allstate Car Insurance Review

Allstate Corporation is the largest publicly-held carrier of personal-line insurance in the US. Headquartered in Northfield Township, Illinois, this giant loss protection provider asks the thought-provoking inquiry, “Are you in good hands?” The firm’s long, illustrious history and enormous asset base suggest an affirmative answer for many. Its beginnings as an insurer are quite interesting.

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In 1925, more than 2 million responses were elicited in response to a nationwide contest to select the title for a new auto tire brand was held by Sears, Roebuck & Company. “Allstate” was ultimately selected. The new automotive product immediately proved to be a huge success.

Four years later, during a coincidental conversation conducted while playing bridge on a commuter train, insurance broker Carl Odell suggested to game opponent Robert Wood that auto insurance could be sold by direct mail. As Sears Chairman General, Wood subsequently introduced the idea to Sears & Roebuck’s Board of Directors. His proposal was promptly approved.

On April 17 of the following year, the project was launched and auto insurance was sold via the Sears catalog. Two years later at the World’s Fair, auto insurance was offered at a booth under the Sears Pavilion. The following year, Allstate opened its first regular insurance outlet in a Chicago-area Sears store.

The famous slogan “You’re in Good Hands with Allstate” was devised a decade-and-a-half later. In another 5 years, it was broadcast on Allstate’s first television commercials. Between 1954 and 1957, fire, life, and homeowners insurance were added to automobile policy offerings. In the 1960s, Allstate added worker’s compensation, ocean marine policies, business coverage, and surety bonds.

In 1995, Allstate was formally established as an entirely distinct business entity independent of Sears. In 1999, Allstate’s novel model for conducting business was launched. Its unique format employed captive independent agents combined with an extensive call center network.

The Allstate Protection division provides homeowners, automobile, property and casualty, and life insurance in the US and Canada. Through various subsidiaries, Allstate Financial sells life insurance and investment vehicles. Emergency roadside service is also offered, and Allstate Bank is an online financial institution that provides general banking services via a virtual platform.

Allstate Financial Ratings

Internationally-renowned independent insurer credit rater A.M. Best (“Best”) rated Allstate’s overall long-term prognosis as “stable.” In December 2010, Best’s assigned Allstate the following industry-specific financial grades:

Financial Strength:  This criterion assesses insurer capacity to meet current financial commitments. Based upon asset pool size, Best graded Allstate as A+. This is the second level in the top tier for this particular criterion.

Credit Rating of Issuer: This assessment pertains to insurer capacity to satisfy senior monetary obligations. Allstate’s grade of “AA-” is among some of the highest in the industry.

Allstate Customer Service Satisfaction Review

The JD Powers 2010 National Auto Insurance Survey is a leading study of customer satisfaction with car insurance companies was based upon feedback from 25,000 US auto insurance policyholders. Survey participants were asked to indicate their levels of satisfaction with car insurance companies across 5 categories of service. Respondents were queried about policy offerings, billing and payment, interaction, claims handling, and premium pricing. Allstate rated an average of 3 stars in every category except pricing. In the arena of customer satisfaction with premium price levels, Allstate averaged 2 stars.

Allstate carries 13 major insurance types. These include homeowners’, life, and commercial coverage in addition auto insurance. Allstate’s marketing centerpiece is known as “Your Choice Auto.” This innovative insurance product provides decreased deductibles, safe driving bonuses, higher coverage limits, and accident forgiveness.

Allstate also touts its Teen Driving program very highly. The program was implemented to instill safer driving habits and increased consciousness of road safety among American youth. Upon joint registration with parents, teens receive a $5 Starbucks certificate upon execution of a Safe Driving Promise. If long-term adherence is maintained, other rewards such as electronics devices follow every 90 days.

Allstate Car Insurance Discounts

There are many ways to save money on car insurance with Allstate. The company has one of the longest lists of car insurance discounts available and most drivers can often benefit from multiple discounts helping to achieve very affordable car insurance rates with Allstate.  Some of Allstate’s car insurance discounts include:

  • Safe Driver Discount where drivers can save up to 45%
  • Early Signing Discount for customers switching car insurance companies
  • Good Student Discounts where good students can earn up to a 20% discount
  • New Car Discount for simply insuring a new vehicle
  • Defensive Driver Discount for drivers who complete an approved course
  • Vehicle Safety Equipment Discounts
  • and more

Are Allstate auto insurance rates the best?

There is no single correct answer to this question. Consumers’ auto insurance needs are highly individualized. Your age, driving record, vehicle type, geographical location, gender, marital status, and other factors play major roles in determining your total premium.

Auto Insurance is a competitive industry. Accordingly, car insurance coverage features and costs vary widely among car insurance companies. Comparison shopping your particular scenario to multiple insurance providers is the best way to find the most affordable auto insurance rates with adequate coverage. Get started with your car insurance comparison search today and find local providers by entering your ZIP code above.

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