Allstate Vehicle and Property Insurance Company: An Overview

With roots tracing back to 1931, Allstate is one of the largest and most well-known insurance providers in the United States. Allstate Vehicle and Property Insurance Company is a key subsidiary within the Allstate Insurance Group that focuses on auto, home, and other property insurance coverage.

This article provides an overview of Allstate Vehicle and Property Insurance Company, including its history, financials, coverage options, customer service, and more. Read on to learn what sets this Allstate subsidiary apart in the vehicle and property insurance sector.

Company History and Overview

Allstate Vehicle and Property Insurance Company is a property and casualty insurer within the Allstate Insurance Group. The broader Allstate entity was originally founded in 1931 as a subsidiary of Sears, Roebuck and Company. It began selling auto insurance by mail and through Sears catalog agents.

In 1993, Allstate became an independent publicly traded company no longer affiliated with Sears. It has grown exponentially over the decades to become one of the largest auto and home insurers in America.

Allstate Vehicle and Property, as its name suggests, specializes in auto insurance, homeowners insurance, renters insurance, condo insurance, and other property coverage. It holds an A+” Superior” Financial Stability Rating from Demotech, affirming its strong financial position.

With headquarters in Northbrook, Illinois, Allstate Vehicle and Property Insurance Company maintains a national presence. It holds licenses to operate in all 50 U.S. states and DC. The broader Allstate Group has over 43,000 employees nationwide.

Insurance Products Offered

As a property and casualty insurer, Allstate Vehicle and Property provides the following main insurance coverage:

• Auto Insurance – Allstate offers standard auto policies as well as coverage for motorcycles, classic cars, custom equipment, and more. Options include liability, collision, comprehensive, medical payments, uninsured motorist, and roadside assistance.

• Home Insurance – Homeowners can secure coverage for their dwelling, belongings, loss of use, personal liability, and more. Options like replacement cost and extended replacement cost are available.

• Condo Insurance – Condo owners policies cover unit interiors, improvements, loss assessments, personal property, loss of use, liability, and additional coverages.

• Renters Insurance – For renters, Allstate provides personalized policies to cover possessions against perils like theft, fire, water damage, and vandalism. Liability protection is also included.

• Flood Insurance – High-risk flood insurance is available to cover flood losses excluded by standard homeowners or renters insurance. This can be critical for properties prone to flooding.

• Boat Insurance – Allstate’s boat policies cover physical damage, liability, medical payments, uninsured boater, trailers, accessories, towing and labor, and more.

• Motorcycle Insurance – Allstate motorcycle policies include bodily injury, property damage, medical payments, uninsured motorist, collision, comprehensive, accessories, towing, and transportation expenses.

• Off-road Vehicle Insurance – For ATVs, snowmobiles, golf carts, and other off-road vehicles, Allstate provides liability, medical payments, uninsured motorist, physical damage, and accessory coverage.

This extensive selection of vehicle and property insurance options from a leading national carrier makes Allstate Vehicle and Property Insurance Company a compelling choice for many homeowners and automobile owners.

Customer Service Reputation

In addition to robust insurance products, Allstate also aims to set themselves apart through exceptional customer service and claims handling. They highlight their extensive efforts to provide policyholders “Good Hands” service and support.

Several factors contribute to Allstate’s strong service reputation:

• 24/7 customer support – Allstate customers can file claims or access support any time of day by phone or through online chat. Extended service hours provide peace of mind.

• Local agents – Allstate maintains agent offices across the country to enable in-person service with representatives from your community. These local touchpoints enhance service.

• Proactive communication – Allstate engages proactively with policyholders to provide insurance checkups, coverage advice, and ongoing support rather than just at renewal. This promotes relationships.

• Digital options – Through Allstate’s online and mobile account management, customers can easily manage payments, file claims, access ID cards, request policy changes, and more for added convenience.

• Claims satisfaction – Allstate Policyholders consistently rate claims service as fast, fair, and stress-free. The company emphasizes getting customers back on their feet ASAP after a loss.

Positive customer feedback scores further reflect Allstate’s commitment to service excellence and policyholder satisfaction across their vehicle and property insurance offerings.

Financial Strength and Stability

As an established national carrier, Allstate maintains exceptional financial strength to back its insurance products and services. Key financial metrics for Allstate Vehicle and Property Insurance Company include:

• A+ Superior rating from Demotech, affirming strong financial stability

• $80+ billion in total admitted assets as of Q3 2023

• $51+ billion in policyholder surplus as of Q3 2023

• Over $5 billion in annual gross premiums written

• 86 years in business since inception in 1931

These figures demonstrate Allstate Vehicle and Property’s financial foundation to deliver on promises made to insurance customers. Strong capitalization enables them to weather market volatility and pay substantial claims while maintaining stability.

Allstate’s scale and diversified insurance portfolio also provide distinct financial advantages. Their significant resources, including reinsurance backup, allow them to insure a wide range of property risks.

Costs and Discounts

As one of the country’s biggest insurers, Allstate offers very competitive pricing on auto and home insurance designed to save customers money. They actively monitor local market rates to attract and retain policyholders with value pricing.

Allstate also provides numerous discounts to reduce premiums further, including:

• Safe driving discounts
• Anti-theft device discounts
• Anti-lock brake discounts
• New car discounts
• Good student discounts
• Good payer discounts
• Defensive driver discounts
• Multiple policy discounts
• Paperless discounts
• And more!

Bundling home and auto policies under the Allstate brand can maximize total savings. Customers should regularly review available discounts with their local Allstate agent to get the best rate.

Why Choose Allstate Vehicle and Property Insurance?

For over 90 years, Allstate has built an unmatched reputation in personal property insurance coverage through competitive pricing, leading customer service, and financial strength. Allstate Vehicle and Property Insurance Company carries on this tradition as a premier destination for auto, home, and other property insurance needs from a provider you can trust.

With Allstate Vehicle and Property Insurance, customers benefit from:

• Broad insurance products for most property needs
• Cost savings from discounts and bundling options
• Superior financial backing
• Top-rated customer service resources
• Convenient claims processes
• Local agent accessibility

Allstate makes it simple to properly cover your vehicles, home, condo, rental, boat, motorcycle, and more in just a few clicks. Their combination of robust offerings, affordability, and reputable history position them as a leading choice for property insurance across America.