Allstate vs. State Farm: Home Insurance Comparison


Enter your ZIP code to get started

Shield

Free. Simple. Secure.

Updated: May 22, 2024

Advertising & Editorial Disclosure

State Farm and Allstate receive good marks for affordability, financial stability and client satisfaction. The two companies offer the same level of customer service, but Allstate slightly outpaces State Farm in terms of insurance rate affordability.

MoneyGeek’s Allstate vs. State Farm homeowners insurance review explores the companies’ average rates, coverages and discounts to help you compare them.

Comparison Overview: Allstate vs. State Farm

To help you compare Allstate vs. State Farm homeowners insurance, MoneyGeek has listed each company's distinctive features in the table below.

State Farm and Allstate have comparable overall MoneyGeek scores. State Farm has the minor advantage of being more financially secure than its counterpart and providing more add-on coverage options. Allstate provides more discounts and frequently offers cheaper premiums as an incentive for its customers.

Feature
Allstate
State Farm

Total Score

90

91

Satisfaction

4.0

4.0

Stability

4.5

5.0

Affordability

4.8

4.7

Average Annual Premium

$1,911

$2,138

MoneyGeek ranked companies based on nationally recognized data from leading consumer reporting agencies, including J.D. Power for customer service, AM Best for financial stability and Quadrant Information Services for affordability. Learn more.

Which Company Is Cheaper Overall?

Allstate has the advantage of being more affordable than State Farm. It offers a cheaper average rate — $1,911 annually — than State Farm, at $2,138 annually. These are for the average cost of homeowners insurance, and your premium may vary depending your credit record, your home’s location and the cost of reconstruction.

Average Annual Home Insurance Premium: Allstate vs. State Farm

homeInsurance
Allstate

Average Annual Premium

$1,911
homeInsurance
State Farm

Average Annual Premium

$2,138
State Farm’s homeowners insurance costs on average:$227 more

This is 12% more expensive.

Insurers consider numerous variables, including your house’s location and the dwelling coverage you have selected, to determine the price of your homeowners insurance.

Which Company Is Cheaper Based on Dwelling Coverage Amount?

Allstate and State Farm offer several dwelling coverage options. However, Allstate is the cheaper option for dwelling coverage between the $100K base level and the $3 million.

The level of dwelling coverage you choose should represent a rough estimate of the overall expenses associated with fixing or rebuilding your house. Use the MoneyGeek table below to see how dwelling coverage influences the price of homeowners insurance.

Average Premiums for Allstate vs. State Farm
AllstateDwelling Coverage Amount$100,000Average Annual Premium$1,797
State FarmDwelling Coverage Amount$100,000Average Annual Premium$1,917
AllstateDwelling Coverage Amount$250,000Average Annual Premium$2,057
State FarmDwelling Coverage Amount$250,000Average Annual Premium$2,427
AllstateDwelling Coverage Amount$500,000Average Annual Premium$4,672
State FarmDwelling Coverage Amount$500,000Average Annual Premium$5,666
AllstateDwelling Coverage Amount$750,000Average Annual Premium$6,667

How Much Does Each Company Cost by State?

The cost of homeowners insurance varies by state. For instance, Hawaii has Allstate's lowest average rate at $446 per year, while the company’s rate in Michigan is the highest at $3,451 per year. State Farm's plans are the cheapest in Rhode Island at $765 annually and the most expensive in Texas at $3,994 annually.

Learn how State Farm vs. Allstate homeowners insurance rates vary by state using the MoneyGeek table below.

Average Premiums for Allstate vs. State Farm
AllstateStateAKAverage Annual Premium$1,362
State FarmStateAKAverage Annual Premium$1,176
AllstateStateALAverage Annual Premium$927
State FarmStateALAverage Annual Premium$1,482

Which Company Has Better Customer Service?

Assessing a homeowners insurance company's service quality, in addition to its affordability, is crucial. When you submit a claim for processing, you want timely and efficient service.

Based on J.D. Power’s Home Insurance Study, State Farm and Allstate are on par in terms of service. While customer satisfaction ratings are the same for both insurers, Allstate offers significantly lower premiums, while State Farm has a better track record for financial stability.

Allstate vs. State Farm: Customer Service Scores
Score
Allstate
State Farm

MoneyGeek Score

90

91

Satisfaction Score

4.0

4.0

Stability Score

4.5

5.0

Affordability Score

5.0

5.0

Which Company Has More Optional Coverages?

Personal property, liability and dwelling coverages are all included in typical homeowners insurance policies. If you want additional protection, you can purchase optional coverages. With 12 optional coverage options, State Farm provides a more extensive selection of add-ons than Allstate’s seven.

Coverage
Allstate
State Farm

Sewer backup coverage
Covers the cost of
water damage from
a sump pump,
drain or sewer overflow.

Identity theft coverage

Covers some of the
costs incurred due to
identity theft or fraud.

Extended reimbursement

Extends your limits for
certain coverages.

Scheduled personal property coverage

Covers the cost of
valuable items like
jewelry, furs, fine art, etc.

Building ordinance or law coverage

Covers the cost to
rebuild or upgrade a
home so that it
meets the most up-to-date
building codes after a
covered loss.

Only Allstate offers extended reimbursement coverage, which increases your liability limits by up to 120%. However, State Farm provides less common add-ons such as mold, earthquake, home rental and service line coverages, which Allstate does not offer. Including these options in your insurance will protect you from paying for expensive repairs.

MoneyGeek obtained this data from the companies’ websites, and not all available options may be advertised online.

Which Company Has More Discounts?

Discounts reduce the price of your coverage and help you save on homeowners insurance. Allstate has 11 discount offerings, while State Farm provides only seven. Allstate’s unique discounts include loyalty, deductible reward, claim forgiveness, autopay and early payment. State Farm offers a popular discount for home improvements, which Allstate does not.

Discount
Allstate
State Farm

Protective device discount

Discount for having
theft or fire protection
devices, such as alarms
or sprinklers.

Insurance bundling discount

Discount for bundling
your homeowners insurance
policy with another product,
like auto insurance.

>

Claims-free discount

Discount for going
several years without
filing a claim.

New home discount

Discount for homes that
have been recently constructed.

Home renovation discount

Discount for homes that
have been recently renovated.

State Farm offers most of the popular discounts. Its house renovation discount can help you save when you renovate or improve your property.

Although Allstate does not have a home renovation discount, it offers unique discounts such as loyalty, home buyer, automatic payment, responsible payment, early payment, claim forgiveness and deductible reward.

MoneyGeek acquired this data from the company websites, but not all Allstate and State Farm discounts may be fully disclosed online.

How Much Could Your Homeowners Insurance Premium Cost?

If you are still deciding between companies, we encourage you to review our best homeowners insurance guide, which includes current rates. The actual price of your homeowners insurance could differ depending on several variables, including the cost of home repairs.

To obtain a more reliable estimate of your rate, use MoneyGeek's homeowners insurance calculator.

Home Insurance
Calculator

MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.

High
Average
Low

Rates updated:

Jul 15, 2024

Shield Insurance
Why You Can Trust MoneyGeek

Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.


sources