Allstate is the largest publicly held personal insurer in the United States. It was founded in 1931 and now offers a wide range of insurance, wealth transfer, and financial products.
You’ll learn about the available coverage types, coverage limits, deductibles, replacement cost coverage, features, discounts, claim process, and customer service. Let’s get started.
Most of Allstate’s home insurance policies provide standard coverage, which includes the following coverage types. Note that coverage may vary for those who live in condos or mobile homes.
Dwelling coverage typically protects the physical structure of your home against damage from vandalism, explosions, fire, smoke, hail, lightning, smoke, frozen plumbing, and theft. It does not cover damage from earthquakes and floods, but separate policies are available that can cover these perils.
Other structures coverage
This coverage offers the same protections of dwelling coverage, but for any other structures on your property that are detached from your home, such as a shed or free standing garage.
Personal property coverage
Personal property coverage protects your belongings like furniture, electronics, clothes, jewelry, etc. It will help you pay for losses or damages that occur inside your home or away from your home (i.e., in a hotel). There are limits on how much a policy will pay for certain items, so you may need to consider a special policy for additional coverage.
Liability protection coverage
Liability protection coverage is to shield policyholders and their families against liability for injuring someone else or damaging their property. It can cover incidents both on and off of your property.
Guest medical protection coverage
Guest medical protection coverage will pay for the necessary and reasonable medical expenses if a guest is hurt on your property. For example, if someone slips and breaks their arm. Costs may include X-rays, dental work, ambulance rides, hospital stays, and more.
Additional optional coverage
Standard Allstate home insurance policies allow you to choose one additional type of coverage. This can include reimbursed living expenses coverage, yard and garden coverage, electronic data recovery coverage, musical instrument coverage, identity theft coverage, scheduled personal property coverage, or one of the other options.
Allstate renters insurance coverage includes personal property, liability, and additional living expenses. While the first two types are the same as with home insurance, the third covers the costs you incur if your rental home becomes uninhabitable.
A few situations none of these policies cover include damages or losses due to a lack of basic maintenance, floods, earthquakes, or a water backup. You will need separate policies to cover these scenarios.
It’s usually best to speak to an Allstate agent in your local area to determine what coverage is most important to you. You can then build your policy based on the coverage that you are likely to need the most.
Coverage limits, deductibles, and replacement cost coverage
John Espenschied, a former Allstate agency owner and current Agency Principal, says, “There are many similarities with Allstate’s home and renters insurance policies compared to other carriers. But, you need to ask questions about coverages, deductibles, and replacement cost coverage.”
Some coverage types, such as dwelling, other structures, and personal property, will have deductibles while others won’t. You can often choose a lower deductible with a higher premium, or vice versa.
Limits of liability
Each coverage type will come with dollar amount limits which show the maximum compensation you can receive for a loss. It is important to review your limits and ensure they are high enough to cover your needs.
Replacement cost coverage
In the event of a covered loss, Allstate will either pay you the replacement cost or the actual cash value of the items, depending on your policy. The replacement cost is the full cost to replace damaged items. The actual cash value is the replacement cost minus any depreciation.
Espenschied explains, “In many states, Allstate has adopted home insurance policies with replacement cost roof coverage as long as the roof is under a certain age. After which point it becomes (ACV) Actual Cash Value, meaning you would receive a depreciated value for the roof over time vs. a full replacement.
Additionally, watch out for the 1% or 2% wind and hail deductible associated with Allstate’s homeowner’s policy, which doesn’t sound like much until you do the math, especially with a roof that has aged.”
Espenschied advises, “Make sure to ask a trusted insurance advisor to look over and give the pros and cons of each carrier quote you are considering. It may surprise you to what isn’t included, and the worst time to find out is when filing a claim.”
Allstate insurance features
Here are the features available with Allstate home and renters insurance.
Allstate offers this add-on feature, which ensures your rate doesn’t go up when you file a claim.
If you add the claim-free bonus feature to your policy, you will earn savings every year you don’t make a claim.
With Allstate, you will have a local agent who will be your point of contact with the company. They will learn about you and your needs over time so you won’t have to start from square one with a customer care representative every time you need something. He or she can explain your coverage, assist you with claims, help you learn about preventative care, and help you find discounts.
How can you save with Allstate? Here’s a quick rundown:
- 10% if you are over 55 years old and retired
- 10% if you are a new customer (for the first two years)
- 15% for having fire and theft protection systems in your home (i.e., home security system)
- 10% if you purchase and insure a newly constructed home
- 10% if you sign up for a new policy before your old policy expires
- 20% if you switch to Allstate without any home insurance claims
- 5% when you set up automatic payments
- Save up to 30% when you have two or more insurance policies with Allstate
An agent can help you figure out how you can save the most.
Allstate home insurance claims process
When you need to file a claim, here is the process:
1) Report your loss. You will be assigned a claim number and can use it to track the progress of your claim.
2) A member of the claims team will contact you to ask you about your claim.
3) An adjuster will analyze the claim and determine which coverage applies. Damages, necessary repairs, and replacements will be estimated based on your coverage.
4) The adjuster will inform you of the coverage for the claim and the estimate for damages.
5) Your adjuster will explain the settlement you may receive and any next steps.
You can also contact your agent at any time if you have questions or concerns.
Get a quote
Wondering if Allstate will offer you the best value on your home and renters insurance? The only way to find out is to get a quote. You can do so by following these steps.
1) Visit the Allstate website and navigate to Home Insurance. Then, click “Get a Quote Today.”
2) Provide your personal information.
3) Call to get your quote or find a local agent to get a quote online.
4) To find an agent, you will need to select your state.
5) Select or enter your city.
6) Select an agent in your area.
7) Click “Home Insurance Quote” or “Renters Insurance Quote.”
8) Send the agent an email requesting a quote.
Your Allstate agent will be in touch with you shortly to give you a proper quote.
Allstate review and summary
Allstate is one of the main players in the insurance industry so you can count on them for reliability and a wide offering of products and features. And despite its size, the company also delivers a personal experience to each customer with local agents across the country.
However, when wondering who has the cheapest renters insurance or the cheapest home insurance, that’s not the company’s trademark. Allstate does have quite a few discounts which can help to cut costs, but it still may not be the cheapest.
Low prices are great but you probably also want an insurance company that provides a good value. Allstate may be able to strike that balance. As Espenschied advises, it’s important to look closely at your coverage limits, deductibles, and replacement cost coverage, and to carefully weigh the pros and cons of the carrier quotes you receive.
To read Allstate home insurance reviews, learn more about the company, or get a quote, click here.
For more on Allstate renters insurance, click here.
Jessica Walrack is a personal finance writer at SuperMoney, The Simple Dollar, Interest.com, Commonbond, Bankrate, NextAdvisor, Guardian, Personalloans.org and many others. She specializes in taking personal finance topics like loans, credit cards, and budgeting, and making them accessible and fun.