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Our take
Allstate ranked No. 14 in Insure.com’s Best Insurance Companies of 2024. Allstate has a high AM Best rating of A+, indicating its financial strength and ability to payout claims.
Customers score it highly for customer satisfaction, ease of service, and its policy offerings. Almost all of Allstate customers say they’ll renew, indicating strong customer loyalty. Allstate, however, wasn’t rated as highly as some competitors by the National Association of Insurance Commissioners, which tracks customer complaints. Allstate’s score is based on NAIC data for American Heritage Life, the primary life insurance underwriting company for Allstate/Allstate Benefits.
Allstate Ratings
Ranked No. 14 Overall
Overall Rating: 3.9 How we weight our score
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Ease of service: 4.1
NAIC: 7.03
Customer Satisfaction: 4.1
AM Best Rating: AM Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.What is this rating?
Pros and Cons
Pros:
- Number of policy offerings
- High customer satisfaction
- Loyal customers who say they’ll renew their coverage
Cons:
- Wasn’t rated as highly as other insurers by NAIC
Below is Insure.com’s review of the company and its full line of life insurance products. It’s based on third-party metrics and an in-depth survey of insurance customers. Find the full methodology here, including an explanation of our survey scores.
How Allstate scores on customer satisfaction
Allstate scored well for customer satisfaction, with 79% of its customers in our survey giving it high marks. In fact, only three other carriers scored higher in this category: Pacific Life, Lincoln Financial and Globe Life.
Insurance company | Percent of customers that are satisfied |
---|---|
Allstate | 79% |
Pacific Life | 86% |
Lincoln Financial | 81% |
QuickTake
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How Allstate scores on ease of service
Allstate had the fifth-highest score for ease of service, with 78% of its customers giving it a good grade. Ease of service determines how quickly and efficiently policyholders can make changes to their policies and get questions answered. Pacific Life led this category.
Insurance company | Percent of customers that are satisfied with ease of service |
---|---|
Allstate | 78% |
Pacific Life | 86% |
Penn Mutual | 84% |
How Allstate scores on policy offerings
Allstate scored highest in our survey for policy offerings. Customers like it when an insurer makes a variety of products available. Penn Mutual followed Allstate closely in this category.
Insurance company | Percent of customers that are satisfied with the company’s policy offerings |
---|---|
Allstate | 85% |
PennMutual | 84% |
State Farm | 83% |
How trustworthy is Allstate?
Allstate ranked fifth for trustworthiness, with 77% of survey participants saying they trust the company. Penn Mutual and State Farm outperformed Allstate by a few percentage points.
Insurance company | Percent of customers who find the company trustworthy |
---|---|
Allstate | 77% |
Penn Mutual | 84% |
State Farm | 83% |
Do Allstate customers plan to renew?
Allstate customers are very loyal with 98% of those surveyed saying that they plan to renew. However, State Farm, Lincoln Financial and a couple of other insurers outperformed Allstate here with 100% of customers saying they plan to renew their coverage.
Insurance company | Percent of customers who plan to renew |
---|---|
Allstate | 98% |
State Farm | 100% |
Lincoln Financial | 100% |
Allstate product details
- Term life insurance
- Whole life insurance
- Universal life insurance
- Variable universal insurance
Other services offered
- Auto insurance
- Homeowners insurance
- Renters and condo insurance
- Identity protection
- Retirement & investment services
- Pet health insurance
States where Allstate offers coverage
Graph
Table
States where Allstate offers coverage |
---|
Alabama |
Alaska |
Arizona |
Arkansas |
California |
Colorado |
Connecticut |
Delaware |
Florida |
Georgia |
Hawaii |
Idaho |
Illinois |
Indiana |
Iowa |
Kansas |
Kentucky |
Louisiana |
Maine |
Maryland |
Massachusetts |
Michigan |
Minnesota |
Mississippi |
Missouri |
Montana |
Nebraska |
Nevada |
New Hampshire |
New Jersey |
New Mexico |
New York |
North Carolina |
North Dakota |
Ohio |
Oklahoma |
Oregon |
Pennsylvania |
Rhode Island |
South Carolina |
South Dakota |
Tennessee |
Texas |
Utah |
Vermont |
Virginia |
Washington |
Washington D.C. |
West Virginia |
Wisconsin |
Wyoming |
Available
Not available
Note: Allstate is available in all 50 states but has paused home, condo and commercial business insurance in the state of California.
Company background
Allstate has been serving customers since 1931, first providing auto insurance for Studebakers during the Great Depression. They’ve grown into a highly regarded national company that offers a variety of life, auto and homeowners policies, among other services.
Resources & Methodology
Sources:
The New York Times. “Allstate Is No Longer Offering New Policies in California.” Accessed January 2024.
Allstate. “Our History.” Accessed January 2024.
Methodology
Insure.com in the fall of 2023 surveyed more than 1,750 people with auto, home, life and health insurance (1003 with life insurance). The survey was conducted by online market research company Slice MR. Respondents were asked to name their insurer and the editors then selected – based on the number of responses – the top companies for this year’s Best Life Insurance Companies ranking. Insure.com needed 20 or more of a company’s customers to respond to the survey for that insurer to be included in the ranking, although in some categories the editors did consider companies with 18 or 19 responses.
Respondents were first asked to grade their insurer in the following categories – customer satisfaction, claims satisfaction and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.
In addition, the editors also created star rankings for each company. Respondents were asked to pick their insurer’s top three attributes out of the more than the dozen presented – again including categories such as customer satisfaction and policy offerings. The number of responses for each of those attributes was totaled and then divided by the number of each company’s customers who responded to that survey question to create the star ranking.
Respondents were then asked if they would recommend their insurer to someone else. The percentage who said yes is presented in the results.
They also were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.
The editors compiled the survey results and then collected National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives. The editors identified the NAIC company code or codes that were the primary underwriting companies for each carrier and line of business using total annual premiums. The associated NAIC complaint index score was used in our calculations. If more than one underwriting company was identified for a line, we used a weighted average of the NAIC complaint index scores.
The team also gathered AM Best data, which measures financial strength.
They also collected insurance rate data from Quadrant Information Services (for auto and home insurance), Compulife (for life insurance) and the public health marketplace (for health insurance).
With the help of Prof. David Marlett, Ph.D., managing director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For life insurers, we used the following weights to calculate the overall score for each company:
- AM Best: 25% of total score
- NAIC: 15% of total score
- Survey: 60% of total score (10% customer satisfaction, 10% recommended, 10% renewal rate, 10% ease of service, 10% trustworthiness and 10% policy offerings)
To find the industry average annual premium, insure.com weighed the rates from 9 companies: AAA, Farmers, Guardian Life, John Hanco*ck, Lincoln Financial, MassMutual, New York Life, Northwestern Mutual and Transamerica. Rates are based on premiums for 35-year-old males and females who are non-smokers and in good health. Rates are for a 20-year-term policy that provides $500,000 in coverage.
No insurer in our ranking received less than half a star and the highest possible ranking is 5 stars.
On company review pages, the editors compared the profiled insurers in various categories against the leaders in that category or against other top insurers that match up well against the profiled company in terms of size and/or coverage area.
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