Allstate has built a solid reputation for providing affordable homeowner policies with valuable discounts. If you are in the market for comprehensive home insurance from a well-known company with a straightforward online quote process, Allstate is definitely a contender worth considering.
Our team at MarketWatch Guides has conducted a thorough analysis of Allstate’s coverage, customer reviews, and other pertinent information to help you determine if it is the best homeowners insurance option for you.
Our Thoughts on Allstate
Based on our findings, Allstate is a good choice for homeowners seeking discount opportunities, flexible coverage options, and affordable premiums compared to other insurers. The online quote process is user-friendly and convenient, making it easier to sign up for coverage compared to other companies we researched. Allstate also encourages policy bundling with other insurance products, such as auto insurance, for potential savings.
However, it is important to note that Allstate approves just 95% of claims received, which is slightly lower than the industry average of 96%. Some customers have expressed dissatisfaction with the level of support and alleged unfair claims handling in negative reviews on Trustpilot. We reached out to Allstate for comment on these negative reviews but did not receive a response.
Pros and Cons
Pros:
- Provides discounts that can help lower your premium
- Offers HostAdvantage coverage for home-sharing hosts
- Maintains a library of online resources to help customers navigate policies
Cons:
- Does not offer new home insurance policies in California
- Has a higher-than-average NAIC complaint ratio, suggesting a higher number of customer complaints compared to other providers we reviewed
How Allstate Scored in Our Methodology
In our rating system, Allstate received 4.5 out of 5 stars, earning praise for its lower-than-average premiums and variety of available discounts and endorsements. However, the company lost points for having a 1.80 complaint ratio as reported by the National Association of Insurance Commissioners (NAIC), which exceeds the baseline of 1.0.
Allstate State Availability
Allstate offers homeowners insurance in all U.S. states and Washington D.C., except California. In 2023, the insurer ceased providing policies in California due to the risk of severe weather events, including wildfires, and rising construction costs.
Allstate Cost
On average, an Allstate homeowners policy costs $2,027 per year, which is below the national average of $2,728. Allstate policies are priced below average in states like Hawaii, Nevada, Utah, and Oregon, but may cost more than the state average in Oklahoma, Texas, Kansas, and Nebraska due to increased risk factors.
Various factors can influence the cost of your policy, including dwelling amount, deductible, location, credit score, and claims history. Pricing data was obtained from Quadrant Information Services, an agency that provides property insurance solutions.
Discounts
Allstate offers several discounts to help lower your policy cost, including multi-policy bundling, responsible payment, claims-free, welcome and loyalty, homebuyer, easy-pay plan, protective device, early signing, and windstorm mitigation (available only in Florida).
Allstate Coverage Options
A standard Allstate policy covers the physical structure of your property against damage, provides liability coverage, pays for damage or loss to your personal property, and covers guest injuries on your property. Endorsements are available to enhance coverage, such as water backup, identity theft protection, HostAdvantage, green improvement reimbursement, and more.
Allstate Quote Process
To get a quote from Allstate, you will need to select the type of policy you want, enter your ZIP code, provide property information, personal details, and household information. Once you provide these details, you will receive an estimate of your policy costs and coverage limits.
Allstate Claims Process
You can file a claim with Allstate through its mobile app, website, or by contacting an agent. Claims approval typically takes an average of 15 days, and while Allstate can deny claims if deadlines are missed, customer reviews suggest that payouts cover repair costs in most cases.
What Customers Think of Allstate
Customer reviews on the Better Business Bureau (BBB) and Trustpilot indicate that Allstate provides quick customer support, high-quality service, easy sign-up, and straightforward claims filing. However, some customers have raised concerns about increasing premiums, issues with claim processing, long waiting times, and low repair cost estimates.
Allstate vs. the Market
Compared to competitors like Liberty Mutual and Farmers, Allstate offers lower rates for homeowners insurance and approves a significant number of claims. However, the company receives a high volume of customer complaints and provides actual cash value coverage with its standard policy.
Frequently Asked Questions About Allstate
-
Does Allstate issue homeowners insurance in California?
Allstate does not offer homeowners insurance in California anymore due to increasing construction costs and the high risk of natural disasters. -
Is Allstate home insurance trustworthy?
Allstate is a reputable option for home insurance, offering customizable coverage options, valuable endorsements, and discounts. However, the company receives a high volume of customer complaints compared to the industry average. -
What does Allstate home insurance cover?
A standard Allstate policy covers the physical structure of your property, liability, personal property damage or loss, and guest injuries. Endorsements can be added for additional coverage. - Is Allstate home insurance expensive?
On average, an Allstate home insurance policy costs $2,027 per year, which is less than the national average. The cost of your policy will depend on various factors, including location, property value, and personal circumstances.
Methodology: Our System for Ranking the Best Home Insurance Companies
Our team uses a comprehensive methodology to evaluate and rank home insurance providers based on various factors, resulting in a rating out of 5 stars for each company.
How We Gather Cost Data
Cost data for Allstate and other insurers is obtained from Quadrant Information Services, an agency that provides property insurance solutions. Premiums are calculated based on factors such as dwelling coverage, location, credit score, and claims history.
In conclusion, Allstate offers affordable homeowner policies with valuable discounts and flexible coverage options. While the company has received some negative feedback regarding claims handling and customer support, it remains a reputable choice for those seeking comprehensive home insurance from a well-known provider. Consider Allstate for your homeowners insurance needs and take advantage of their discounts and customizable coverage options.