score92Service, Cost and More
Allstate Renters Insurance Review: Cost & Service (2023)
Review Rates
Ensure you're getting the best rate. Review quotes from a top insurance company.
score925/5
satisfaction
5/5
affordability
5/5
stability
pros
Cheapest renters insurance company of the companies evaluated
Unique discounts available
Mobile app and other useful online tools
High financial stability rating
cons
Below-average customer satisfaction rating
Limited number of coverages
Verdict
Overall, Allstate’s renters insurance is a good option, as the company received a MoneyGeek score of 92 out of 100 and offers many unique discounts and coverages. Of the renters insurance providers evaluated, Allstate is the cheapest, making this insurance provider best for customer’s whose main concern is cost. It’s also financially stable, with an A+ AM Best score for financial stability. Allstate’s online tools and mobile app make it easier and more convenient to file and manage a claim.
However, the company has a below-average J.D. Power customer satisfaction score and its National Association of Insurance Commissioners (NAIC) score shows that it has received a fair number of customer complaints.
Does Allstate Have Good Customer Service?
While looking for the best renters insurance provider, it’s essential to consider the customer service ratings of a company, as you will contact them to file a claim and want them to process your claim fairly and efficiently.
Allstate has a below-average J.D. Power score, indicating that the quality of its customer service is lacking in comparison to other renters insurance providers. Furthermore, Allstate’s NAIC Company Complaint Index is slightly above the national average, which means customers have filed more complaints about Allstate’s service.
Customer Satisfaction Rating
In the 2021 US Home Insurance Study, Allstate received a J.D. Power score of 833 out of 1000. Since the industry average is 848, the company ranks below average for customer satisfaction. J.D. Power determined this score after analyzing the company’s interaction, policy offerings, price, billing processes, policy information and claims.
Allstate
One way of analyzing a company’s customer satisfaction rating is by considering its NAIC score, which is calculated based on how many customer complaints a company receives. MoneyGeek found out that Allstate scored 1.11 on the NAIC Company Complaint Index, which means that the company receives a fair number of complaints, as this score is above the national average of 1.00.
Financial Stability Rating
It’s important to consider the financial stability rating of an insurance company, as it tells you the likelihood that a company will pay off your claim. AM Best is an organization that analyzes the financial strength of an insurance provider and assigns them credit ratings. Allstate received an A+ AM Best rating, which means the company has a superior ability to meet its financial obligations.
What to Expect From Allstate Renters Insurance
It can be challenging to figure out how to get renters insurance from Allstate, as the application process is different for every insurer. MoneyGeek explained what to expect from the company below to help make this process easier for you.
1
Getting a quote
With Allstate, you can get an instant personalized quote on their website by entering your information. In the next section, MoneyGeek has provided renters insurance quotes from Allstate to save you time.
2
Customer support
Allstate allows you to contact their customer service agents 24/7 through phone or email. You can also get in touch with their local agent or visit their online Help Center for more information on policies.
3
Filing a claim
Filing a claim with Allstate is easy and convenient, as the company allows you to file claims online through their mobile app or by signing in to your online account on a desktop PC.
4
Canceling your policy
You can cancel your Allstate renters insurance policy by contacting your agent, who may ask you to submit a written request for cancellation.
STATE AVAILABILITY
Allstate renters insurance is available in all 50 states and Washington, D.C.
How Much Does Allstate’s Renters Insurance Cost?
The cost of renters insurance varies depending on your insurance company. On average, renters insurance at Allstate costs $120 per year. This is less than the national average of $159 per year. The actual cost of your renter’s insurance will vary, so it’s best to contact the company directly to receive a specific quote.
The cost of your renters insurance generally depends on your coverage limit, which is based on the value of your personal property. Insurance companies will assess your coverage limit when you request a quote.
AVERAGE COST OF ALLSTATE RENTERS INSURANCE
Personal Property Coverage | Annual Rate |
|---|---|
$20,000 | $118.77 |
$50,000 | $211.18 |
$100,000 | $367.28 |
Your coverage limit significantly impacts the cost of your renters insurance policy. Figuring out the coverage limit that’s best for your financial situation can help you save on costs. While $20,000 worth of coverage is a good starting point, you can determine how much you need using MoneyGeek’s personal property calculator below.
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MONEYGEEK EXPERT TIP
Finding out the actual cost of your personal property can help you understand how much renters insurance coverage you need, enabling you to save a lot of money as you would buy a policy that’s the best fit for your needs.
What Discounts Does Allstate Offer?
MoneyGeek’s research shows that Allstate offers five types of discounts to its policyholders, which is equal to the industry average. However, discounts unique to Allstate renters insurance policies include autopay and retiree discounts. These are not commonly offered by other insurance companies.
Discount | Description |
|---|---|
Auto-Pay Discount | With Allstate’s Easy Pay Plan, you can save up to 5% on your policy by setting up automatic payments. The provider allows you to schedule monthly payments through your account. |
Multi-Policy Discount | You can save up to 25% by bundling your renters insurance policy with Allstate’s auto policy. |
Protective Device Discount | Allstate lets you earn a discount if you have installed theft or fire protection devices in your home. |
Claim Free Discount | If you don’t have a recent insurance claim and switch to Allstate, the company will let you save up to 20% on your renters insurance policy. |
Retiree Discount | If you’re at least 55 years old and retired, you’ll be eligible for a discount with Allstate. |
MONEYGEEK EXPERT TIP
With Allstate’s Multi-Policy Discount, you can save up to 25% on your renters insurance policy by bundling it with the company’s auto insurance policy.
Which Coverage Types Does Allstate Offer?
Allstate offers four optional coverages to its customers, less than the industry average of seven. Flood and personal injury protection coverage are available with this company, which are not commonly offered by other insurance companies. Allstate also offers identity theft and scheduled personal property coverage. These coverages can be purchased from Allstate as endorsements.
MoneyGeek explained the additional coverages offered by Allstate with its renters insurance policy below. These coverages include identity theft, flood, scheduled personal property and personal injury.
Identity Theft
With Allstate, you will be covered against legal fees, lost wages and other costs in case someone steals your identity. You can add this coverage to your policy for $36 per year.
Flood
This coverage helps you purchase flood insurance which covers the replacement cost of your items in case of flood water damage.
Scheduled personal property
Allstate’s scheduled personal property coverage protects you against the cost of damages to valuables like engagement rings, musical instruments and more.
Personal Injury
Allstate offers a personal umbrella policy that helps you pay for large liability claims exceeding your renters insurance liability limits.
While looking for renters insurance, make sure that standard coverages like personal property, personal liability, medical payments and additional living expenses are included. You may also need flood, earthquake or insect coverage, which are rarely offered. That’s why it’s important to read the fine print before purchasing a policy.
Renters Insurance Coverages: What to Expect
- Personal Property Coverage
- Personal Liability Coverage
- Medical Payments Coverage
- Additional Living Expenses (Loss of Use)
- Flood Coverage
- Earthquake Coverage
- Insect or Bed Bug Coverage
AVAILABLE COVERAGE LIMITS
Allstate does not disclose information about the different coverage limits on their website. If you want to compare coverage limits, we recommend that you contact Allstate for more information.
What Online Renters Insurance Tools Does Allstate Offer?
Allstate offers several free-to-use online tools for both policyholders and non-owners, including an online quote tool, mobile app, payment plans, calculators, online bill payments and much more.
Other Allstate Insurance Products
In addition to renters insurance, Allstate also offers other insurance products like auto insurance, business insurance, life insurance and pet insurance.
Type of Product | Description |
|---|---|
Vehicle Insurance | Allstate’s auto insurance policy protects you against the repair or replacement cost of your car, motorcycle, boat, etc. You can get a personalized quote for this type of insurance on the company’s website. |
Business Insurance | You can get Allstate’s business insurance policy to cover the cost of damages at your company premises in case of theft, fire, vandalism, etc. Allstate allows you to add commercial auto protection to your business insurance policy. |
Life Insurance | Allstate offers a range of life insurance policies, including term life insurance, universal life insurance, whole life insurance and variable universal life insurance. |
Pet Insurance | Allstate’s pet insurance helps you pay for your pet’s unexpected health problems, veterinary visits and routine medical care. |
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Methodology
To evaluate Allstate as a renters insurance company, MoneyGeek obtained information directly from Allstate’s website and manually collected quotes. We also used information available through consumer intelligence organizations such as J.D. Power, the NAIC and AM Best to see how Allstate stacked up to other insurance providers.
About Mark Fitzpatrick
sources
- Allstate. "Pet Health Insurance." Accessed April 4, 2022.
- Allstate. "Allstate ePayments." Accessed April 4, 2022.
- Allstate. "Cancel Policy or Account." Accessed April 4, 2022.
- Allstate. "Allstate Contact and Support." Accessed April 4, 2022.
- J.D. Power. "2021 US Home Insurance Study." Accessed April 4, 2022.
- NAIC. "Allstate Vehicle & Prop Ins Co National Complaint Index Report." Accessed April 4, 2022.
- AM Best. "AM Best Affirms Credit Ratings of The Allstate Corporation and Its Key Subsidiaries." Accessed April 4, 2022.