What would happen if the unthinkable occurred? An out-of-control car slams into your home. A tornado rips through town and tears off your roof. A burglar breaks in and steals your electronics. What then?
The truth is, home insurance is home security. It can protect your home and finances against all sorts of peril. Like a security system with 24/7 monitoring, your home insurance provider works behind the scenes to help you sleep easier at night. (Home insurance even covers theft by burglars and thieves!)
But not all coverage is the same. There are significant differences from policy to policy and provider to provider. Thankfully, Allstate makes things simple and offers flexible policies for nearly every homeowner. I’ll break down Allstate’s prices below, but let’s first discuss its coverage.
Like most homeowners insurance providers, Allstate covers all the major bases.1 A standard policy from Allstate will protect:
There’s more information on coverage types in our in-depth Allstate review, but I wanted to touch briefly on HostAdvantage, one of its unique coverages. The first provider in the industry to offer policies aimed specifically at homeowners who use their properties for short-term rentals, Allstate has you covered if your guests get a little too rambunctious and, say, knock a hole in your drywall or put a grilled cheese sandwich in your dryer. Hey, you never know.
Pro Tip: Whether you’re renting out your home or just looking to purchase insurance, it’s important to conduct a home inventory of your personal possessions. That way you can more accurately gauge how much insurance you need. See our home insurance guide to learn more about this and other great tips and tricks for shopping around.
Now that you have a pretty good idea of the types of protections offered by Allstate, let’s have a look at what Allstate will and will not cover.
Homeowners insurance is meant to help you recover in the event of an unforeseen circumstance or disaster, but you don’t want to have a false sense of security.2 There’s nothing worse than finding out the policy you purchased doesn’t cover flooding when your houseplants are floating away.
Here’s a quick rundown of what a typical Allstate home insurance policy covers.
|Threat||Will Allstate Typically Cover?|
Every policy is different, and every situation is unique. Similar to what we saw in my review of Travelers homeowners insurance, Allstate offers all types of coverage beyond its typical policies in the form of add-on protections. Talk with your provider about which coverages make the most sense for you.
That about does it for coverage, so now on to the big question: What’s all this going to cost?
Asking how much homeowners insurance costs is a little like asking how much a car costs. A Lamborghini will run a bit steeper than a Toyota.
FYI: Generally speaking, you want to purchase enough homeowners insurance to fully rebuild your home, replace your belongings, and offset the costs of living somewhere else while your home is repaired.
Since your homeowners insurance rate depends on many factors, including your home’s value, size, location, and amenities, it can be difficult to nail down what your rate will be. Luckily, Allstate makes it very easy to get an online quote, so that’s exactly what I did.
The current average home cost in America is about $300,000, so I used a representative property in Atlanta to get a pretty standard policy from Allstate. Here’s how it broke down:
|Coverage||Claim Limit||Deductible||Cost Over 12 Months|
|Other structures||$24,609||N/A||Reflected in premium|
|Personal property protection||$184,564||N/A||$6|
|Additional living expenses||$49,217||N/A||$3|
|All peril deductible||N/A||$1,000||$1,006|
|Windstorm/hail deductible||N/A||$2,500||Reflected in dwelling protection|
|Tropical cyclone deductible||N/A||$5,000||Reflected in dwelling protection|
|Family liability protection||$500,000||N/A||$50|
|Guest medical protection||$5,000||N/A||$9|
This plan would cost $91 per month, or $1,092 annually. That’s not bad, but your quote will differ significantly depending on the factors above. In my research, I saw other “average” quotes for Allstate ranging from $100 to $130 per month.
FYI: The national average for home insurance premiums is approximately $120 per month.
To understand what that means, it’s helpful to give that figure a little context. Here are the estimated monthly rates for some of Allstate’s competitors.
|Provider||Estimated Monthly Rate|
All things considered, Allstate is middle of the road in monthly premiums. I wouldn’t say it’s an expensive service, but it’s certainly not the cheapest either.
If that’s a little concerning, never fear. Allstate offers plenty of discounts and opportunities to save.
There are all sorts of ways Allstate sweetens the deal for prospective customers. Below is a quick breakdown of some of its discounts.
Automatic payments: If you want to take the headache out of paying your premium by setting up automatic payments, you’ll automatically get a 5 percent discount. Not too bad.
New customer discount: If you want to switch to Allstate from a different provider, Allstate will make it worth your while with a 10 percent discount.
No claims discount: If you’re coming over to Allstate without having made a claim with your previous provider in over five years, you can save up to a whopping 25 percent.
Bundling: This is one of the best ways to save with Allstate. As one of the largest insurers in the country, it offers all types of insurance. If you bundle your homeowners insurance policy with one or more of Allstate’s other offerings, you’ll save big time.
With that in mind, let’s look at the other types of insurance Allstate offers.
Allstate is a major insurance provider with nearly 200 million policies sold to nearly 16 million customers. But what exactly are those offerings? Allstate provides all sorts of coverages.
If you need to insure vehicles in addition to purchasing your homeowners insurance policy or you want to protect your loved ones after you pass, then bundling your policies will save you significant money. Allstate can even help if your identity is stolen; check out my review of Allstate’s identity theft protection for more information.
FYI: The Federal Trade Commission estimates that 9 million identities are stolen every year, causing untold financial damage and mental anguish. Don’t think it can’t happen to you!
That’s about all there is to know about Allstate’s services and pricing. What’s the final call though? Should you purchase your homeowners insurance through Allstate?
Allstate is one of the most trusted names in the insurance business for a reason. Its prices are reasonable and its protections are comprehensive. It isn’t the most budget-friendly option, but, as the old saying goes, you get what you pay for.
Allstate prides itself on its customer service, and, from the overwhelming amount of five-star reviews, it would seem its dedication to its customers is paying off. Some folks have had bad experiences, but that’s to be expected with a company of this size.
Could you find a cheaper policy? Probably. You may want to check out our State Farm review if your budget is a major concern. Would you have the same coverage and access to knowledgeable insurance agents? Maybe not. Simply put, as its slogan says, you’ll be in good hands with Allstate. We definitely recommend this provider.
Allstate isn’t the cheapest option on the market, but it isn’t the most expensive either. Using its online quote tool, you can decide for yourself if the service is worth it.
If you own an average home around the U.S. median value of $300,000, you should expect to pay between $90 and $130 per month.
Allstate makes it easy to file claims. You can get in touch with your agent directly, file a claim online, call 800-669-2214, or use the company’s mobile app.
Online reviews of Allstate show most customers are satisfied, and, as one of the largest insurers in the nation, its success is telling.
Like most policies, certain natural disasters — including flooding and earthquakes — are excluded in Allstate’s typical policies, as is damage from mold. Additional policies can be purchased for these events.
Insurance Information Institute. (2022). What is covered by standard homeowners insurance?
Insurance Information Institute. (2022). How much homeowners insurance do I need?
Insurance Business America. (2021). Allstate : Everything you need to know.