According to a recent comparison report, one insurer clearly comes out on top as more affordable.
State Farm and Allstate are two of the largest auto insurance companies in the country, but just because they’re big national insurers, it doesn’t mean that there isn’t a difference in how much it will cost if they insure you.
A comparison company called The Zebra recently conducted a deep dive into what the companies offer and how much it costs for their auto insurance coverage.
They examined each insurer and published a report to describe what they discovered. The goal was to help consumers by providing them with comparable data between the two insurers so they can make informed decisions regarding which insurer and which coverage will best suit their needs.
The auto insurance coverage comparison was meant as an information tool and not specific advice.
State Farm is the largest car insurer in the US by market share (of which it holds 16 percent). It is a well reputed company and has consistently received good ratings from both customers and third-party reviewers. It is strong in areas ranging from customer satisfaction to financial outlook.
Overall, The Zebra rated it well in terms of lower-than-average rates, high customer satisfaction scores, a spectrum of coverage types, and local agents across the country. Where it didn’t score as well was that its premiums rose substantially for drivers with poor driving records or bad credit scores, and it didn’t have as many add-on coverages for people with specialized needs as Allstate.
Allstate is also well-reputed and scores very well in ratings from customers and third-party reviewers. It offers a large range of coverage types with many add-on offerings and other benefits for policyholders. That said, these advantages typically come with a higher price tag than most similarly sized insurers. It has many rebates for safe driving and has a rewards program too, but it is higher prices that cover those advantages. The report viewed this auto insurance company as being strong in terms of good coverage options and fewer than average customer complaints. It also has perks such as safe driving checks and many telematics options. That said, its rates are higher than average and are particularly high for teenaged drivers or those with weak driving records.
Which company had the cheapest auto insurance? According to the report, State Farm’s lowest monthly average rate was $108, which was substantially lower than Allstate’s $170.
