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How Much is Allstate Car Insurance: Cost, Rates & Quote

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How Much is Allstate Car Insurance?

Allstate was founded in 1931 by Robert Wood, one of Sears’ founding partners (the once popular department store chain). At the time, one of the most popular tire models sold at Sears was the "Allstate tire," designed to be a good all-terrain tire for use in any state. Mr. Wood decided that the name was fitting and titled his first insurance company after it!

Today, Allstate is the third-largest insurance provider in the United States and provides coverage in all 50 states. You probably recognize their commercials by Dennis Haysbert's deep voice stating, "That's Allstate's Stand."

How much does Allstate car insurance cost, though? Does the insurance provider live up to its own words, high expectations, customer satisfaction, good reviews, and historical legacy? What factors affect Allstate auto insurance rates?

In this article, we're going to take an in-depth look at the type of coverage Allstate offers, how much full-coverage and basic liability policies cost, their cancellation policy, what causes the insurance provider to increase rates, and whether or not Allstate is a good overall auto insurance provider.

Let's take a look!

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How Much is Allstate Auto Insurance Per Month?

According to our car insurance quotes research, Allstate is one of the more expensive car insurance companies in the United States. The average car insurance cost that you will receive from Allstate for full coverage is $1,850 per year or $154 per month. The lower end was mostly made up of 60-year-old drivers with a clean driving record, while the higher end mostly covered 25-year-old drivers with a clean driving record as well.

This particular study did not include drivers with poor credit, or mentioned drivers who had bad driving records or required SR22 coverage.

So Allstate full coverage insurance cost is $154 per month or $1,850 per year on average. 

Allstate car insurance cost for minimum coverage is $65 per month or $785 per year on average.

This makes Allstate car insurance rates among the most expensive auto insurance rates from the companies that we reviewed.

Coverage TypeCost Per MonthCost Per Year
Full Coverage$154$1,850
Minimum Coverage$65$785
GAP CoverageN/AN/A

Allstate typically allows policyholders to choose between six-months and twelve-month policies, depending on how long they want their car insurance policy to last, whether or not they bundle their home insurance with auto insurance and other factors.

Allstate may offer a slight discount for signing up for a longer twelve-month policy and for paying the entire policy upfront in one payment. However, most drivers end up paying a smaller monthly amount as it's more affordable.

So, using the information obtained from our research, a policyholder with a $2,000 per year full-coverage policy would pay around $167 per month, plus any taxes and fees that apply.


Allstate Accident Forgiveness

Despite the higher cost of an Allstate auto insurance policy, though, they do have one key feature that keeps customers in business with them- their accident forgiveness policy. Allstate offers this to forgive drivers for their first accident (great for young drivers) and provides incentives of around $100 per year for every year you go without an accident!

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Factors That Affect Car Insurance Rates With Allstate

The figures mentioned above were obtained from a recent study and were average numbers based on drivers from around the country. However, the true average annual amount that you'll pay depends on a number of different features such as the driver's age, driving record, credit score, city, and others.

Here's a brief breakdown of how these factors could affect your Allstate auto insurance policy.

Age

Young drivers (under 25-year-old) typically pay a higher amount for car insurance coverage since they're more likely to be involved in an accident. However, once you pass age 25, you'll get considerable insurance discounts.

Driving Record

Allstate rewards drivers who don't get tickets and aren't involved in an at-fault accident with annual discounts. The better your driving record is, the safer of a driver you are, and the cheaper your collision coverage rates will be.

Credit Score

Allstate's car insurance rates are mainly based on two key components - overall driving record/history and your financial ability to pay them back. The higher your credit score is, the more reliable you are to make your payments on time, and the lower your monthly premium will be.

Type of Vehicle

If you own a sports car with two doors, a bright paint job, or a big engine, then you're almost always going to pay more than the person driving an economy car with a high safety rating.

Coverage Options

If you just opt for basic liability coverage, then your car insurance quotes will likely be around half of what you'd pay for a full-coverage auto insurance policy. This all depends on the minimum coverage laws for your particular state, though.

While some states only require drivers to have limited coverage with low per-incident coverage amounts, other states require drivers to keep higher property damage/liability coverage, collision insurance, uninsured/underinsured motorist coverage, comprehensive coverage, and others.

How To Cancel Car Insurance With Allstate

Allstate makes it easy to cancel your car insurance policy. All you need to do is call them up, tell them that you would like to cancel your existing auto policy, and then they'll remove the coverage from your account. During the conversation, the agent may ask you why you decided to cancel your policy or offer you a better deal on your policy to keep you as a customer.

In most cases, Allstate will not charge you an early cancellation fee, so that's a great reason to do business with them. However, Allstate's policies and terms do differ between states. So, while some states don't charge a cancellation fee, others will.

Why Did My Allstate Car Insurance Rates Go Up?

Allstate's accident forgiveness program ensures that you won't receive an immediate hike in your premiums for getting involved in your first accident. However, if you continue to display an unsafe driving record, get into more accidents, or receive more speeding tickets, then you may see a slight increase in your policy.

Other factors that may cause your Allstate auto insurance rates to go up include:

  • Your credit score dropping or missed payments.

  • Adding a new driver to your auto policy.

  • Purchasing a new vehicle.

  • Modifying or making expensive additions to your vehicle.

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How Good Is Allstate Car Insurance Overall?

Overall, Allstate is an excellent auto insurance provider. It received a 4.3 rating on our big car insurance quotes research. Despite their slightly higher premiums, they're still ranked #3 in the nation size-wise, are known for their excellent customer support, accident forgiveness policies, safe driver discounts, and provide a number of other benefits to policyholders.

While you should always compare car insurance quotes before signing the dotted line with a new insurance company, you can be rest assured that Allstate is one of the better insurance companies in the market!


sources:

  1. https://www.iii.org/fact-statistic/facts-statistics-auto-insurance 

  2. https://www.allstate.com

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