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At a Glance: Allstate vs. State Farm
| Metric | Allstate | State Farm |
|---|---|---|
| Average Annual Premiums (National average = $2,511.25) | $2,414.37 | $2,084.90 |
| Discounts | Claims-free, customer loyalty, early signing, easy pay, early signing, new home buyer, multi-policy, protective devices, responsible payment, welcome | Bundling, home security, roofing materials, higher deductibles |
| Coverage Add-Ons | Business property, electronic data recovery, green improvements, HostAdvantage, identity theft, musical instruments, scheduled personal property items, sports equipment, water backup | Additional dwelling, water backup, earthquake, fortified roof, high-value personal property items, identity theft protection, sinkhole collapse, specialty electronics |
| Customer Support | Online support available 24/7; phone and in-person agent support hours vary | Online and phone support available 24/7; in-person agent office hours vary |
| Percentage of Claims Approved* | 95 | 95 |
| NAIC Complaint Ratio (Industry average = 1.0) | 0.74 | 0.35 |
| J.D. Power Score | 809/1000 | 829/1000 |
| AM Best Score** | A+ | A++ |
*Percentage of claims approved is based on our 2023 survey of 1,500 policyholders who have filed a homeowners insurance claim with the providers in this review. Your experience will vary.
**AM Best ratings accurate as of November 2023
State Farm offers an excellent resource library and local insurance agents who are familiar with the immediate area. Affordable pricing, an exceptional rating from independent credit rating agency AM Best, 24/7 customer support and high customer satisfaction ratings make State Farm insurance coverage our pick for new homeowners.
Allstate is our top pick for extended insurance coverage. Policyholders can choose from an extensive selection of add-ons and endorsem*nts for truly customized home insurance coverage. Like State Farm, it also offers affordable insurance rates backed by a strong financial strength rating. Allstate has slightly below-average customer satisfaction ratings and potentially limited claims support through individual underwriting companies.
Allstate Overview
Allstate
Extended Coverage
4.8
9.7/10
Pros and Cons
Pros Provides excellent extended coverage options Alerts you to data breaches with optional identity theft protection Maintains a dedicated network of local agents Cons Has a lower-than-average customer satisfaction score Has limited online quote system that is not available in all areas
Why We Like Allstate
We rated Allstate insurance 4.4 out of 5 based on our rating methodology and review standards. We evaluated Allstate based on factors including policy cost, coverage options and availability, customer satisfaction and ease of use. We like its strong financial position and extended coverage options.
State Farm Overview
State Farm
New Homeowners
4.8
9.6/10
Pros and Cons
Pros Connects policyholders with local agents who understand their needs Receives fewer NAIC complaints than many competitors Offers 24-hour customer support and claims service Cons Offers different discounts depending on location No longer writing new policies in California
Why We Like State Farm
Homeowners looking for extra support and guidance will appreciate State Farm’s online resource library and knowledgeable local agents. A convenient mobile app allows policyholders to manage policies from anywhere.
Those features, coupled with affordable insurance rates, a top AM Best rating for financial strength and an above-average J.D. Power customer satisfaction score, earned State Farm 4.4 out of 5 stars and a spot as our top pick for new homeowners.
Allstate vs. State Farm: Cost and Discounts
The average rate for homeowners insurance policies with $350,000 dwelling coverage and a $1,000 deductible is $2,414.37 with Allstate and $2,084.90 with State Farm. These premiums are lower than the nationwide average of $2,511.25.
Insurance costs depend on a number of factors, including your home’s size and location and your credit score and claims history and chosen coverage limits.
Cost by State
Typical insurance rates for State Farm and Allstate policies are below national averages. However, home insurance premiums can vary from state to state. Request a quote to see how much insurance with State Farm and Allstate is in your location.
Home Insurance Discounts
Allstate offers several more discounts for policyholders than State Farm. However, both offer significant savings. For example, bundling home and car insurance can save Allstate customers up to 25% off their policy premiums, while State Farm policyholders can save as much as $1,127 with a multi-policy discount.
Allstate Discounts
- Business property
- Electronic data recovery
- Green home improvements
- HostAdvantage
- Identity theft
- Musical instruments
- Scheduled personal property items
- Sports equipment
- Water backup, including sump pump failure
State Farm Discounts
- Bundling home and auto insurance
- Claims-free
- Home security
- Roofing materials
- Higher deductibles
Allstate vs State Farm: Coverage Options
While Allstate and State Farm offer similar coverage under their standard home insurance policies, Allstate surpasses State Farm when it comes to endorsem*nts or add-ons.
The two insurers also differ in terms of how much coverage each offers.
| Coverage | Allstate Amounts | State Farm Amounts |
|---|---|---|
| Dwelling | Varies based on home price | Varies based on home price |
| Personal property | 60% of dwelling | 75% of dwelling |
| Loss of use | 10% of dwelling | Varies |
| Liability | $100,000 per occurrence | $100,000 per occurrence |
| Medical payments | $1,000 per person | $1,000 per person |
| Other structures | 10% of dwelling | 10% of dwelling |
| Deductible | Varies | 1% of dwelling |
Note: Coverage amounts are based on quotes we obtained for a home in Philadelphia, Penn. For the most accurate information regarding your home, request a quote from either provider.
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Allstate vs. State Farm: Customer Service and Claims
Comparing Allstate and State Farm homeowners insurance, both providers offer online, phone and local agent customer support. State Farm’s mobile app offers extra convenience.
State Farm has a lower complaint ratio at 0.35 compared to Allstate’s 0.74, although both are below the industry average of 1.0. These ratings indicate that the service providers receive fewer-than-average complaints.
In a 2023 survey of 1,500 policyholders across several insurance companies, we found that customers can expect a claim determination from Allstate within 15 days, with 95% accepted. State Farm’s insurance claims process typically takes 12 days, also with a 95% acceptance rate.
State Farm received a score of 880 out of 1,000 on the 2023 JD Power Property Claims Satisfaction study, while Allstate scored 868 out of 1,000. Scores indicate slightly above-average claims satisfaction rates among State Farm customers and below-average satisfaction rates among Allstate policyholders.
Allstate vs. State Farm: Customer Reviews
According to reviews on Trustpilot and the Better Business Bureau (BBB), Allstate customers appreciate the help and support its local agents provide when filing and managing claims. However, some customers complained about high rates.
Reviews show that State Farm’s customers are generally satisfied with its service, noting affordable rates, quick support and fair claims handling. However, not every customer has had a pleasant experience with State Farm, with some mentioning long claim processing times.
Allstate Reviews
“Allstate is a wonderful company! I have had two claims over the years. [Allstate was] quick to help, and everything was fixed.” — Kyle Ruolo via Trustpilot
“We had a house fire, and [Allstate] took great care of us. Our neighbor's house caught fire, which caught our house on fire. Our neighbors were not insured by Allstate. The difference was night and day. So grateful for our Allstate agent and every one of their representatives. Fire is the worst; Allstate was the best.” — T. Hale via Trustpilot
“At first I was a bit skeptical about Allstate, but immediately as I interacted with the representative I was assigned … my perspective began to change… I have to admit I did not expect this level of help and support. But thanks to Allstate and their amazing staff … I am in good hands.” — Kirk M via BBB
“I had my auto and homeowners insurance with Allstate for over 10 years. I was very happy with my agent during this time — he was responsive and helpful. After 10 years, however, I decided to shop my coverage and learned that I had been paying a lot more for Allstate, so I switched carriers.” — Stacy Varney via Trustpilot
State Farm Reviews
“Great customer service! … When I text or call [my agent], I get immediate information… State Farm is a great insurance company. I have home and auto insurance. Good rates.” — Leathy R via BBB
“I have been with State Farm for over 15 years. My agent has been great, and I have not had any issues with service.” — Rachel C via BBB
“Fair with my home damage claim — able to replace my roof and siding from hail damage. Very time-consuming, though. The process took two months to complete, but I understand [the situation.] Adjuster treatment was excellent and personal. The adjuster was very fair in his estimate.” — Chris C via BBB
“I’ve been a customer since 1998, [holding] homeowners insurance, car insurance and life insurance. They sent me a letter in December saying I needed to do some things to my house, so I had it painted, had the roof inspected like they asked me to, yet they sent me a letter saying my homeowners insurance would not be renewed in June … ” — Myra H via BBB
The Bottom Line
Both State Farm and Allstate are highly regarded homeowners insurance companies that provide coverage in a large geographic area. Both companies offer multiple avenues for getting insurance quotes and reaching customer support and claims agents.
State Farm is a solid choice for new homeowners wanting extra support and resources, while Allstate insurance offers extended coverage limits and add-ons that make customizing your policy simple.
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Frequently Asked Questions About Allstate and State Farm
When it comes to competition for home insurance, State Farm and Allstate are major rivals. State Farm is the largest home insurance provider in the U.S., with an 18.35% market share, according to the NAIC; Allstate is the second largest company, with a 9.02% market share.
Liberty Mutual, USAA and Farmers round out the top five homeowners insurance companies by market share.
Both are reputable insurance companies with high claims acceptance rates, strong financial positions, good customer satisfaction scores and sizable discounts for bundling home and auto insurance.
The better homeowners insurance policy to own depends on your unique situation and what matters most to you in an insurance company. If you want personalized service and resources, State Farm is a good choice; if you need extended coverage limits, Allstate has more options.
Allstate offers extra coverages that make customizing a home insurance plan simple. Unique coverage for sports equipment, musical instruments, and green improvements can all help protect your assets after a covered peril.
An Allstate home policy may cover mold resulting from a covered peril, such as a burst pipe that soaks drywall and carpet. If you add water backup coverage, your policy may cover mold damage from a sump pump failure or drain backup. However, mold from improper maintenance or poor ventilation is typically not covered by home insurance.
Methodology: Our System for Ranking the Best Home Insurance Companies
We at the Marketwatch Guides Team gathered home insurance quotes for the providers in this article using data from Quadrant Information Services. Quadrant is a leading source of property and casualty insurance solutions and data.
Our sample homeowner is a 40-year-old single male with good credit and no prior claims history. Our sample policies featured a $1,000 deductible and the following coverage and limits:
- Dwelling: $350,000
- Other Structures: $25,000
- Personal Property: $150,000
- Loss of Use: $50,000
- Liability: $300,000
- Medical Payments: $1,000
For each provider, we gathered a quote for 50% of the ZIP codes in every state it is licensed in. We used the most populous ZIP codes for our study. We took the average of these individual quotes to calculate a national average premium per provider. Our sample rates are for informational purposes only. Actual premiums will vary.
How We Gather Cost Data
We at the Marketwatch Guides Team gathered home insurance quotes for the providers in this article using data from Quadrant Information Services. Quadrant is a leading source of property and casualty insurance solutions and data.
Our sample homeowner is a 40-year-old single male with good credit and no prior claims history. Our sample policies featured a $1,000 deductible and the following coverage and limits:
- Dwelling: $350,000
- Other Structures: $25,000
- Personal Property: $150,000
- Loss of Use: $50,000
- Liability: $300,000
- Medical Payments: $1,000
For each provider, we gathered a quote for 50% of the ZIP codes in every state it is licensed in. We used the most populous ZIP codes for our study. We took the average of these individual quotes to calculate a national average premium per provider. Our sample rates are for informational purposes only. Actual premiums will vary.
If you have feedback or questions about this article, please email the MarketWatch Guides team ateditors@marketwatchguides.com.
Bradford CuthrellAuthor
Bradford Cuthrell is a meticulous researcher and writer specializing in pet and home finance topics. He’s surveyed thousands of pet owners and homeowners, listened to hundreds of customer service calls from various home service companies and spoken with dozens of industry experts to understand homeowners’ common pain points and needs.
Ryan LaskerEditor
Ryan Lasker is a financial writer and editor with bylines in Morning Brew, The Motley Fool, and several more. As a certified public accountant, he leverages his technical expertise in personal finance and tax to fuel his passion for teaching financial literacy. When he’s not writing, editing or working in a spreadsheet, he’s biking the D.C. trails or reading.
