Does anyone have any experience with AllState insurance, either auto or homeowners coverage? I'm considering switching as, although their auto coverage is slightly higher than my existing coverage, their homeowners coverage is over $200 less per year, so I could net about a $200 annual savings to switch. However, I know nothing about AllState other than their TV ads. How does AllState rate in terms of financial stability? Customer service? Pros and cons?
How does AllState rate in terms of financial stability?A.M. Best rates their financial stability A+ (Superior). You will probably need to subscribe (free) to their site to see the rating:http://www3.ambest.com/ratings/entities/CompanyProfile.aspx?...How does AllState rate in terms of financial stability? Customer service? Pros and cons? Their complaint ratio (in Illinois in 2009 - probably about the latest reported) is .55 per $1 million in direct written premium. You can check how that breaks down between, underwriting, marketing/sales, claims and customer service and compare it to other insurers at the link below. Your own State Department of Insurance may keep a similar score card, or you can check NAIC.org.http://insurance.illinois.gov/Complaints/ComplaintsRatioRepo... Bob
Their complaint ratio (in Illinois in 2009 - probably about the latest reported) is .55 per $1 million in direct written premium.I didn't go far enough - See their Homeowners' complaint ratios lower down. Apparently they have 2 homeowners insurance companies. Allstate Indemnity has a pretty low complaint ratio. Allstate Insurance Co. has a fairly high homeowners insurance complaint ratio.
Thanks for the helpful information. If I am not mistaken, AllState now owns the online insurance company, Esurance. Regardless, they certainly seem to spend a lot on TV advertising.
We've had Allstate for over 20 years for auto, boat, renters and homeowners insurance. Claim-wise, we've had multiple windshields, one car totaled claim and one leaking pipe claim. All occurred after years of paying premiums. So, from our point of view, service has been good. Over the years, the homeowners premium has gone up. I think some of the increase was due to the Katrina claims where they raised national rates for everyone. Other increases were due to valuation increases related to construction costs. Oh, and I did increase our liability coverage. We've been able to limit premium increases by raising the deductibles.Also, my favorite insurance company to have a claim against is State Farm Insurance. At least in our area, they were very nice to deal with the claim, covering all damage and providing a rental replacement. This may not be saying much as I haven't had to deal with any other company. I guess State Farm Insurance drivers like to hit our vehicles.
I guess State Farm Insurance drivers like to hit our vehicles. Either that, or it could be that State Farm enjoys around a 25% market share - They are the largest insurer of private passenger autos in the U.S.It is one of the insurers that I would not care to represent as an agent - Think about it. 1 of every 4 people who carry auto insurance are already insured with State Farm, and their agents are captive - can't use competing insurers' products:Me: Mr Doe, I would like to compare and quote your auto insurance for you and your family.Mr. Doe: What company do you represent.Me: State Farm.Mr. Doe: I am already insured with State Farm. Buy Bye.Bob
I've been with Allstate for homeowners insurance for about eight years. I had a claim for a burst pipe (ouch!) They were pretty crappy with the way they handled it -- I made numerous phone calls, and then some, and even my agent couldn't get through. However...after a lot of grief...they did pay me a very fair amount to fix the damage.They nag me a lot to buy more product, but their rates are the cheapest in my area. That's the main reason I stick with them. They may be a pain in the butt but, in the end, they did made good on my claim.BarbaraHome Fool/PRO, ONE
Thanks. I'm glad to hear from an AllState client to get first hand information. I'm really less concerned with claims than I might otherwise be if I was purchasing full coverage. My objective at this point is just to purchase the absolute minimum liability required to be street legal and to otherwise self-insure to pay the incidental damages that might occur. If something major were to happen, I'll just eat it and buy another truck to run about town. As for the homeowners, I also plan to try to cover as much incidental damage as possible, so I would really only be concerned with major or catastrophic coverage.Concerning State Farm, I called them a few years back just to check their rates and they were considerably higher on both home and auto coverage. I was really surprised to see AllState's homeowner rates as low as they are.
Opv1419: "Thanks. I'm glad to hear from an AllState client to get first hand information. I'm really less concerned with claims than I might otherwise be if I was purchasing full coverage. My objective at this point is just to purchase the absolute minimum liability required to be street legal and to otherwise self-insure to pay the incidental damages that might occur. If something major were to happen, I'll just eat it and buy another truck to run about town."Do you have other assets to protect? What if you severly injure one or more people and are hit with judgements will in excess of "minimum liability required to be street legal" amount if liability insurance?Just my $0.02.Regards, JAFO
I understand your logic. What level of liability do you carry? What level do you recommend?
Either 1M or 2M umbrella, I forget, and auto in an amount sufficient to meet the requirements of the umbrella policy.Regards, JAFO
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