Allstate vs. State Farm

Attribute	Allstate	State Farm
Founded	1931	1922
Headquarters	Northfield Township, Illinois	Bloomington, Illinois
Number of Employees	45,000+	70,000+
Revenue	$39.8 billion (2019)	$81.7 billion (2019)
Insurance Products	Auto, Home, Life, Renters, Motorcycle, Business	Auto, Home, Life, Renters, Motorcycle, Business

Company Background

Allstate and State Farm are two of the largest insurance companies in the United States. Allstate was founded in 1931 and is known for its catchy slogan "You're in good hands with Allstate." State Farm, on the other hand, was founded in 1922 and is recognized for its jingle "Like a good neighbor, State Farm is there." Both companies have a long history of providing insurance products to customers across the country.

Product Offerings

When it comes to the types of insurance products offered, both Allstate and State Farm provide a wide range of options. Allstate offers auto, home, renters, life, and business insurance, as well as retirement and investment products. State Farm also offers auto, home, renters, life, and business insurance, along with banking and financial services. Customers can find all their insurance needs met by either company.

Customer Service

Customer service is a crucial aspect of any insurance company, and both Allstate and State Farm strive to provide excellent service to their policyholders. Allstate has a network of agents across the country who are available to assist customers with their insurance needs. State Farm also has a large network of agents who are dedicated to helping customers with their policies. Both companies offer 24/7 customer support through phone, online chat, and mobile apps.

Claims Process

When it comes to filing a claim, both Allstate and State Farm have streamlined processes to make it as easy as possible for customers. Allstate offers a mobile app that allows customers to file claims, track their status, and even upload photos of the damage. State Farm also has a user-friendly app that simplifies the claims process. Both companies have a reputation for handling claims efficiently and fairly.

Discounts and Savings

One of the key factors that customers consider when choosing an insurance company is the availability of discounts and savings. Allstate offers a variety of discounts, including safe driver, multi-policy, and new car discounts. State Farm also provides discounts for safe driving, bundling policies, and having a good student. Customers can save money on their premiums by taking advantage of these discounts.

Financial Strength

Another important aspect to consider when choosing an insurance company is its financial strength. Allstate and State Farm both have strong financial ratings from independent rating agencies. Allstate has an A+ rating from A.M. Best, while State Farm has an A++ rating. This indicates that both companies are financially stable and able to meet their obligations to policyholders.

Online Tools and Resources

In today's digital age, having access to online tools and resources is essential for customers. Allstate and State Farm both offer user-friendly websites and mobile apps that allow customers to manage their policies, make payments, and access important documents. Allstate's website features educational resources and tools to help customers understand their insurance options. State Farm's website also provides helpful information and tools for policyholders.

Conclusion

Overall, both Allstate and State Farm are reputable insurance companies that offer a wide range of products and services to customers. When choosing between the two, customers should consider factors such as product offerings, customer service, claims process, discounts, financial strength, and online tools. Ultimately, the best insurance company for you will depend on your individual needs and preferences. Whether you choose Allstate or State Farm, you can feel confident that you are in good hands with either company.