Most commuters know how boring a train ride can be unless you have a friend riding with you. While playing cards on such a commute, neighbors and friends Carl Odell (an insurance broker), and Robert Wood (chairman of Sears Roebuck) came up with the idea of selling car insurance by mail and through the Sears Roebuck catalogue.
Thus in 1931 Allstate Insurance Company was established, named after a brand of Sears’ tires also named Allstate.
Its headquarters still in Illinois, Allstate is now a publically owned company and one of the largest and most recognizable insurance carriers in the United States.
Through their continuous advertisements, Allstate has become known for their slogan ‘You’re in good hands’, which was created in 1950 by than general sales manager Davis Ellis.
Allstate products are: auto, home, life, business insurance, and investment management.
The discounts offered by Allstate vary, depending on the type of policy you purchase.
Obviously rates are determined by the amount of coverage in place, by discounts applied and also by policy deductible which is established at the inception of the policy.
Following are discounts offered for auto policies:
- multiple policies
- safe drivers
- safe cars
- drivers with clean records for the past 3
- drivers with clean records for the past 5 years
- Senior citizens
While the products are solid, there have been numerous complaints regarding the manner in which Allstate handles their claims – especially home owner’s claims.
In 2007 the company made certain ‘adjustments’ by reducing coverage to certain markets to insure profitability, thus creating a rift in consumer esteem.
To further insure probability, many policy owners were denied renewal coverage based on the filling of a claim.
Working toward improving their image and respectability, Allstate is still one of the most competitive companies in the market offering top products to their clients.
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