Allstate Auto Insurance Company is not only a leading auto insurance company, it is also the largest publicly held auto insurer in the nation. Founded in 1931 as a part of the Sears Roebuck Company, Allstate has grown dramatically since it became a public company in 1993. With more than 70,000 employees and 11,200 exclusive agencies throughout the nation, the insurer is only expected to keep growing. Allstate Auto Insurance Company has the very popular and memorable “You’re in Good Hands with Allstate” slogan, and continues to run an intense marketing initiative to attract a larger demographic to the company. If you want to determine whether or not Allstate can secure your business, read on to learn more about the company’s financial records and reputation.
How Does Allstate Rank As Far As Financial Stability?
Allstate currently provides auto insurance coverage to more than 16 million households and counting. When a company has so many potential claims on the books, you need to be sure that the company has the money set aside to cover the claims that could results from a catastrophic loss in a geographic region. Luckily, the financial records of insurance companies that are privately and publicly held are public record, and there are consumer ratings agencies that rate all insurance companies based on financial records that are filed.
You can check the letter grade of all of the insurance companies through agencies like A.M. Best and Standard & Poor’s, and compare the grades of all companies. Allstate’s current Financial Strength Ranking with A.M. Best is an A+. This is a superior financial strength rating that signifies that the outlook for the insurer is stable. If you want peace of mind that the company you are paying for coverage can afford to payout your claims for standard or catastrophic losses, Allstate’s ratings can deliver you this peace of mind.
Customer Service and Claims Service with Allstate
Unless you use your auto insurance to pay for a loss, you are paying for an intangible product and excellent customer service. Because of this, you need to make sure that you choose a company offering competitive premiums, quality service, and quick claims processing. One thing that sets Allstate apart from other insurers is the “Agent’s Experience” customers receive. Your policy will be assigned to an agent, who will service the policy, review coverages annually, take your calls, and help you through claims. In addition to this, Allstate offers policyholders a Claim Satisfaction Guarantee to ensure all claimants are happy.
Allstate caters to teen drivers, business drivers, military drivers, and even elderly drivers. If you want to find a personalized policy that extends all of the coverage you need, Allstate could be the right carrier. Price the cost of insurance rates with Allstate, and see if you really are in good hands.