Allstate Insurance Review 2022: What You Need to Know 

Which large, national insurance company got its start from a mail-order catalog? If you guessed Allstate, you’re correct. 

Originally started by Sears, Roebuck & Co. as a mail-order automobile policy insurer, Allstate is now one of the nation’s largest insurance companies.

Where Is Allstate Insurance Offered?

Allstate Insurance is offered across the country. However, due to differences in state insurance regulations, not all products are available in all markets.

What Makes Allstate Different?

Allstate’s origins as a mail-order auto insurance policy company led to a wide range of options to insure property, life, and more.

For drivers, Allstate offers Drivewise, a mobile app that rewards drivers for safe driving by tracking speed, safe stops, and driving hours. Policyholders can receive policy credits every six months for safe driving. 

Milewise is Allstate’s mileage-based car insurance plan, which is calculated using a fixed daily rate that is adjusted every six months at renewal — plus a per-mile cost. Drivers who don’t do a lot of driving can save money by using a mileage-based plan.

Allstate also offers GoodHome, a program that helps homeowners identify risks by using a mix of artificial intelligence and data. The program analyzes local claims, local weather patterns, and more to give homeowners an idea of what type of insurance coverage they might need.

What Types of Insurance Coverage Does Allstate Offer?

Allstate offers a wide selection of property insurance protection, here are just some of the company’s insurance offerings.

Auto Insurance

Allstate was founded as an auto insurance company, and it still offers protection for your vehicle. In addition to standard types of coverage such as collision, liability, and comprehensive, Allstate offers personal injury protection, medical payments coverage, underinsured/uninsured motorist coverage, and rental reimbursement. 

If you have installed aftermarket parts such as audio systems, Allstate offers custom-equipment coverage to pay for the cost of replacing these items if they are damaged in an accident or stolen.

Homeowners Insurance

Allstate offers homeowners insurance that provides coverage for perils such as theft, fire and smoke damage, storm damage, and other sudden or accidental risks such as water damage from frozen pipes. Allstate agents work with homeowners to design an insurance policy that meets the needs of the location, design, and other home features.

Condominium Insurance 

Allstate’s condo coverage includes personal property, liability, and guest medical coverage. This policy also includes coverage for additional living expenses in the event that you cannot live in your condo while it’s being repaired following a covered claim. Condo owners can choose between actual cash value (ACV) or a reimbursement provision for personal property. 

ACV pays you for belongings based on their depreciated value, with an option for reimbursement coverage. The first payment is based on the depreciated value of the item being replaced. After you replace the item, Allstate will then issue you a second check that reimburses you the difference between the depreciated cost and what you paid to replace the item.

Renters Insurance 

Allstate’s renters insurance covers your belongings, and it can be more affordable than you may think, with an average monthly premium of only $16 a month. Coverage includes your belongings, liability, additional living expenses, and guest medical protection in the event that someone visiting you is injured. Allstate’s renters insurance can also help cover veterinary bills if your dog bites someone else’s pet.

Umbrella Coverage

Allstate’s umbrella policy is designed to protect your finances in the event that you are facing a liability claim that exceeds the limits of your homeowners or auto insurance policy.

Motorhome Insurance

Allstate has options for those interested in insuring their recreational vehicles. RV coverage includes bodily injury liability, property damage, collision and comprehensive coverage, personal effects, and medical payments. 

Other coverage options include “full-timer’s liability,” which protects you if your motorhome is your permanent residence for more than six months per year. Vacation liability protects you if someone is injured in your RV while you are on vacation. Pet coverage is included in your policy in the event that your cat or dog is injured in an accident in your RV.

Boat Insurance

Allstate offers boat coverage for year-round protection, whether you are on the water or if your watercraft is in storage during the off-season. Policies can cover watercraft medical payments, liability, uninsured watercraft, personal effects, and property coverage. 

Allstate’s agreed-value option means that you will be reimbursed for your boat’s value at the beginning of your policy — not the depreciated current market value. Allstate’s boat coverage also provides emergency services coverage and boat trailer coverage.

Motorcycle Insurance 

Allstate offers motorcycle insurance for motorcycles, scooters, and trikes. Coverage includes bodily injury liability, property damage, collision, comprehensive, medical payments, personal injury, and underinsured/uninsured motorist coverage. 

Other coverage includes transport trailer damage in case you are trailering your bike and experience a covered peril such as a collision or theft of the whole trailer — with your bike in it. Allstate’s motorcycle policies automatically include up to $1,000 of coverage for aftermarket upgrades. If that’s not enough, you can buy extra “added equipment coverage” for up to $30,000.

Off-Road Vehicles 

Allstate can cover your ATV, golf carts, dune buggies, Segways, and more. Standard ATV policies include liability, comprehensive, and collision coverage.  

Identity Theft 

It seems as though data breaches are now a part of daily life. Allstate knows that your data is an asset, and identity theft is a risk. Protecting your data with Allstate can help you to see where you are exposed online. It can also help you learn if you’re part of a data breach, alert you if sensitive data is compromised, and help you resolve identity fraud or theft issues.

Pet Insurance 

Allstate offers pet insurance to help with vet bills in the event your cat or dog has a health problem or injury — or even routine wellness care, depending on your policy. 

Allstate’s pet insurance offerings cover accidents, illnesses, and diseases. This includes associated treatment costs such as surgery, hospitalization, lab work, X-rays and diagnostic tests, and more. It might even cover genetic conditions if your pet doesn’t show any symptoms prior to enrolling in a plan. 

A Wellness Rewards plan can help with covering routine care including vaccinations and annual checkups. With veterinary care becoming increasingly sophisticated, it’s also increasing in cost. Protecting your pet with an Allstate pet insurance policy is an easy way to know your furry family member will be able to get treatment if it’s necessary.

Special Event Coverage 

Allstate offers special event insurance that can protect you from financial losses if unforeseen circumstances — such as extreme weather, accident, illness, or an issue with a vendor — means you have to postpone or cancel your private event. 

Event cancellation coverage reimburses you for lost deposits and similar charges if you have to cancel your event. (Notably, getting cold feet or having a change of heart are not covered!) Event liability coverage protects you if someone is injured or causes property damage at your event. Special event coverage does have some restrictions: It isn’t available for events with more than 500 guests or sporting events, gun shows, etc.

What Discounts Does Allstate Offer?

Similar to many large insurance companies that offer a range of insurance products, Allstate’s most common discount is available by bundling multiple policies with the same insurer. Home and auto, auto and renters, and multi-car policies are the most frequently bundled types of policies.

Renters age 55 and older who are retired can receive up to 25% off their renters insurance premiums. If you schedule automatic payments for your premiums, you could potentially save even more.

If you ride a motorcycle, completing a motorcycle safety course could earn you a discount on your Allstate motorcycle insurance premium. Talk to your agent first, because this discount isn’t available in every state.

The History of Allstate Insurance

Allstate Insurance’s history might surprise you. The company was founded in 1931 as part of Sears, Roebuck and Co. That’s right: This insurance company started as part of an American mail-order catalog company.

Allstate was originally the name of automobile tires that were sold out of the Sears catalog. General Robert E. Wood, the president and board chairman of Sears, Roebuck & Co. decided to sell auto insurance by mail. Sears borrowed the name of the tire for the company and sold its first policy in 1931. By 1934, the company had opened a sales location and began to shift from selling policies by mail to selling them through an agent.

In 1950, an Allstate general sales manager by the name of Davis Ellis developed the company’s famous slogan, “You’re in good hands with Allstate.”

The company was spun off from Sears beginning in 1993 when Allstate became a public company through an IPO. Allstate has headquarters just outside of Chicago, in Northbrook, Illinois.

The Bottom Line

Allstate has come a long way from its founding as an auto insurance offshoot from a mail-order catalog company. It now offers many types of personal property protection, including digital protection from identity theft, something that founder General Robert E. Wood probably couldn’t have ever imagined.

With so many options, customers seeking the safety and stability of a large insurance company — and the potential for significant savings through bundling — should consider Allstate when looking for insurance coverage.

Disclaimer:  All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate Insurance does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate Insurance. Guaranteed Rate Insurance, its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.