Short History of the company
When you think of Allstate, taking a stand and being in good hands comes to mind. Those are both solid slogans that evolved from a well established company during the Great Depression. In 1931 General Wood, the President and CEO of Sears and Roebuck, in Chicago, Illinois took note that the American Public was showing a great affinity toward their automobiles. He also stressed the need to provide auto insurance for car owners without red tape. The method he envisioned to market the first Allstate car insurance policies was by mail order, just as were products sold in the popular Sears Catalogues.
The company was named after one of the automobiles sold in the Sears Catalogue on April 17, 1831. The company had a strong backing and became a hot item during a time when people had very tight budgets and wanted to find ways to save money on car repairs due to automobile accidents. The times did not diminish the popularity of the Allstate product line. By 1944 Allstate had signed on $45million in auto insurance policies.
Allstate takes the slogan “You’re In Good Hands,” to the new sensation of live television in 1957 by sponsoring the show “Playhouse 90” hosted by Ed Reimers who was also the actor who became the Allstate Spokesman for 22 years.
Allstate has grown by the billions in liability property premiums written with more than 11 million policy holders by the mid to late sixties. The sixties was also a time when Allstate Enterprises was created and began to sell an array of new products such as RV Insurance, Boat Insurance, Mutual funds management, savings and loan services.
Pros of the Company
This is one of the largest, most versatile, well established companies with loyalty benefits, lower prices on car insurance for multiple car owners and property insurance, auto and life insurance packages. There are rewards for good driving and no accident records. The claims process is simple and the company has a reputation for excellent customer service.
Cons of Company
Comparisons of the quotes with this company and others show that there are cheap auto insurance products available for loyal customers yet there is a perception that certain types of drivers of the female sex are more risky to insure so there is an attitude toward female drivers. The company will raise rates more than $200 if there is any type of accident report despite no damage to the car of the policy holder.
Special Services offered
There are discounts for good driving records such as perks for loyal customer with no accident record rate reductions.
Allstate auto insurance is available in all 50 states but there may be limitations based on individual state law and regulations.
Overall rating and satisfaction by consumers
In an online survey the majority of consumers had a favorable opinion of Allstate with a 78% approval rating. Poor customer service gave a negative 22% of the pool reason to complain.