State Farm has a 16% market share and is the largest automobile insurer in the United States. State Farm was established in Bloomington, Illinois, in 1922. Since 1942, it has been the nation’s largest auto insurance company. State Farm offers a wide range of financial and insurance services, including annuities, home, auto, and life insurance. State Farm is a mutual insurer, which means that policyholders have a share of the company.
Allstate, another long-standing insurance provider, is a neighbor to State Farm. It is headquartered in Northbrook (Illinois). It does not offer as many policies as State Farm but is fourth in car coverage with a market share 9%. Allstate is also the largest publicly held insurance company in the United States.
Comparison of car insurance rates between Allstate and State Farm
Although they share many similarities, the two companies operate in different ways. This overview shows how the major carriers compare.
Rates based on credit score
It may surprise you to learn that vehicle insurance companies check your credit score before setting your auto insurance premium rate. People with better credit ratings often get higher rates than those with less credit. The states of California and Hawaii, Massachusetts, Oregon, Massachusetts, Hawaii, Massachusetts, Oregon, and Michigan prohibit insurance companies from using credit scores in determining insurance rates. Allstate Insurance is better for car owners with low credit scores. State Farm is better for people with average credit.
Rates based on age
The highest car insurance premiums for young drivers below 25 are paid by . Because they spend less time behind the wheel, insurance companies consider them more likely to cause accidents. State Farm rates for young drivers are significantly lower than those offered by Allstate when deciding between them and State Farm.
Driving record rates
Because they are less likely to be at fault in an accident, safer drivers tend to receive the best car insurance rates. State Farm might be less expensive for drivers who have been convicted of DUI, moving violations or other serious criminal offenses.
Discounts on Allstate vs. State Farm
Both car insurance companies closely match when comparing State Farm and Allstate for discount. Allstate offers 11 discount. State Farm offers 13. There are two ways to save money with Allstate vs. State Farm:
Allstate
- Bundling — When you purchase both Allstate policies, you can receive 10% off your auto coverage and 25% off your home or condo coverage .
- Smart student — Young drivers may be eligible for a discount if they earn a minimum of a B average or have completed the TeenSMART driving safety program.
State Farm
- Drive Safely and Save — Get the app to track your driving habits and get a potential of up to 30% for driving safely.
- Steer Clear — Drivers below 25 years old could receive upto 25% off their premiums if they sign up for the program and complete the driver education requirements.
Comparison of Allstate and State Farm: Online and Mobile Experiences
Both Allstate and State Farm offer a strong online and mobile experience. A resource library is available to the carriers that includes tutorials, calculators, and other useful information about insurance. Customers gave State Farm’s mobile app higher ratings than the other apps.
Allstate
- Apple store – Allstate received an average rating of 4.8 stars from the iOS app store. You can enroll in Drivewise, the carrier’s telematics system that offers car insurance discounts based on your driving habits. The app also allows you to access 24/7 roadside assistance and can take photos and upload them via the app when you file a claim.
- Google Play — Android customers aren’t as pleased with the latest updates to Allstate’s mobile app. Nearly 76,000 people voted and gave it a 3.1 out 5 star rating. Many people complain about the lack of simplicity in managing basic car insurance tasks.
State Farm
- Apple Store — It’s easy to use the clean, simple interface. The app allows you to file car and vehicle glass claims. Apple users give it an average rating of 4.8 stars out of 315,000 votes.
- Google Play – State Farm’s app is better than Allstate’s. Based on 65,000 reviews, Android users gave it a score of 4.6 out 5 You can also use Google Pay to pay for your premiums, in addition to the usual functions that you’d expect from a mobile car insurance app.
Questions frequently asked
Which are the top car insurance companies?
Your needs and desires will determine the best auto insurance company. Consider the requirements of your state and any optional coverages that you may want. Also, consider the rates. It is also important to evaluate the company’s financial strength, ratings, discounts, financial strength, and rates.
What is the cost of car insurance?
According to Bankrate’s research, the average price of car insurance in is $565 annually for minimum coverage and $1,674 per year for full coverage. Your rates will vary depending on your location, driving record, age, and carrier.