Compare Allstate vs. State Farm: Quotes, Discounts (2023)

Allstate vs. State Farm: A Summary

Allstate and State Farm are two of the largest companies by market share in the auto insurance industry, primarily because of their catchy ads, financial strength, and superior coverage options. And both companies have their relative strengths and trade-offs. So we’ve put the two side by side to help you compare car insurance options and decide which one you should choose.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Allstate

Allstate has local agents for the individualized touch that prioritizes your needs. And Allstate customers enjoy features and benefits that include a mobile app, accident forgiveness, and deductible rewards. In addition, there are savings for bundling with homeowners insurance, and the Drivewise telematics discount rewards safe driving habits.

State Farm

With millions of customers across the country, State Farm is the number one car insurance company in the U.S. The insurer offers add-ons that policyholders love, such as rental reimbursement, roadside assistance, and the Drive Safe & Save telematics discount. And State Farm provides other types of insurance for bundling so that you can save even more.

The Best Car Insurance Companies in 2022

Allstate and State Farm just missed our top 10 list, but both excel in a couple of areas worth mentioning. Allstate has inexpensive rideshare coverage for Uber and Lyft drivers and discounted rates for young drivers. On the other hand, State Farm gives drivers with clean records considerable savings.

Compare Allstate vs. State Farm: Which Is Cheaper?

State Farm is slightly cheaper than Allstate across most areas the data measured. Overall, the average monthly rate for State Farm is $52, and Allstate is $4 higher, at $56. However, both companies offer meaningful savings compared to the national average of $69 per month. State Farm is 25 percent cheaper than the national average, and Allstate is 19 percent cheaper.

The Cheapest Car Insurance Companies in 2022

Allstate and State Farm are two of the nation’s most affordable auto insurance companies. On top of their competitive rates, both insurers offer a robust number of insurance products so that drivers can bundle and save. So it may be no surprise that both companies are in the top five car insurance companies in the U.S.

Compare Allstate vs. State Farm Car Insurance by Age

Your age factors into your insurance quote price primarily because experience usually makes people safer drivers. Accordingly, insurance agents quote the highest car insurance rates to young drivers under 25. Typically, experienced drivers pay less for full coverage than teens pay for state minimum coverage (bodily injury and property damage liability only).

A scan of the table reveals a similar trend for Allstate and State Farm. Prices go down as you age until you reach the retirement and golden years. For both companies, drivers in their 50s get the lowest rates, but State Farm extends the low pricing to folks in their 60s. Allstate’s best deal came in at $50 per month, and State Farm is below that at $43.

Compare Allstate vs. State Farm Car Insurance by Gender

Your gender is another factor that might affect the cost of your insurance policy. However, there is only a slight variation in vehicle insurance premiums for men and women in general. Statistically, young men take greater risks behind the wheel than young women, so insurers charge them somewhat higher rates.

Allstate adjusts the price by five percent for men, amounting to $3 per month, or $36 per year. Similarly, State Farm kicks the cost up by 8 percent for men, translating to $4 per month, or $48 per year. But the more appealing news is that both companies trounced the national average for both men and women.

Which is cheapest for men?

Men should get a quote from State Farm, but Allstate is also low-cost. State Farm’s $59 per month slid below Allstate’s $59 price tag, and State Farm beat the national average of $70. Compared to the national average, State Farm offers $16 per month, or $192 per year, in savings, and Allstate gives men $132 per year in savings.

Which is cheapest for women?

Women who value the company that saves them the most money should think about State Farm. Although Allstate’s only $6 per month more expensive, State Farm’s $50 per month is the better choice. Both companies do pretty well against the national average of $69, with Allstate giving you a $156 yearly savings and State Farm a $228 annual price cut.

Compare Allstate vs. State Farm Car Insurance by Mileage

Usually, drivers who put more miles on the odometer can expect to hand over more to the insurance company. This is because insurance providers know that more driving equals a greater chance of being involved in a car accident. But how auto insurance companies set their pricing fluctuates, depending on how heavily they weigh mileage.

At Allstate, your pricing is the same regardless of mileage, and at State Farm, there’s only a $1 difference. So perhaps both companies put a standard mileage for all customers despite what the potential policyholder estimates. And the good news is because there’s only a negligible deviation between them, both companies skate below the national average.

Which is cheapest for drivers with high mileage?

If driving is your favorite pastime or you simply have a long commute, State Farm’s going to be a slightly better choice. State Farm’s $50 per month represents a $72 per year savings over Allstate’s $56 and a $228 savings compared to the national average. So it may be wise to quote both companies because they offer substantial savings versus the national average.

Which is cheapest for drivers with low mileage?

Because the rates are fairly close to the same for both insurers no matter how much you drive, it’s no surprise that State Farm wins again. Oddly, State Farm’s highest price is at the lowest annual mileage, but the difference is only $1. So once again, both companies offer customers an economical rate versus the national average.

Compare Allstate vs. State Farm Car Insurance by Credit Score

Insurance companies have shown a correlation between creditworthiness and safe driving. Yet, despite industry findings, California, Hawaii, and Massachusetts prohibit using credit scores for car insurance rates.

The numbers show that drivers with excellent credit receive the best rates and that the price rises as credit scores fall. Allstate has the lowest prices for poor credit, and State Farm has the best deals for the other three levels. Allstate’s prices are lower than the national average at all levels, and State Farm is less expensive in every area except for those with poor credit.

Which is cheapest for good credit?

State Farm might be the way to go if you have outstanding credit. At State Farm, drivers with excellent credit save $14 per month compared to Allstate’s $48 price tag and $18 per month compared to the national average. So at State Farm, you’ll save 31 percent or more versus the national average, and at Allstate, you’ll save at least 8 percent.

Which is cheapest for bad credit?

If you have imperfect credit, you can still save money with State Farm and Allstate. State Farm has the better rate, at $51, for those with average credit, and Allstate has the better price, at $66, for those with poor credit. In fact, Allstate’s $66 for drivers with poor credit is the only area the insurer bested State Farm in the data that was analyzed.

Compare Allstate vs. State Farm Car Insurance by Driving Record

To insurance companies, your driving record from the past three or five years is the best predictor of how you’ll drive in the future. So accident-free driving histories will always get better car insurance rates than records full of mishaps. Avoiding tickets and accidents is one of the easiest ways to score a low insurance premium.

It can be challenging to find an affordable car insurance price with a less-than-perfect driving history. Happily, insurance providers like Allstate and State Farm understand the dilemma and offer some cost-effective prices even if your driving record has an issue or two. Both companies stay under the national average, whether you’ve got a clean record or even a DUI.

Which is cheapest for good drivers?

Safe drivers should flock over to State Farm and save $36 per year when choosing the company over Allstate. Compared to the national average, both companies offer significant savings. With all the money back in your wallet, you might consider the added protection of uninsured motorist coverage.

Which is cheapest after a speeding ticket?

It may have been a late morning on your way to work or school that caused the ticket, but no worries, because State Farm has a low-cost rate. State Farm’s $59 per month is $132 per year cheaper than Allstate’s $70 per month. Both options will work, but savings-minded customers will stick with State Farm.

Which is cheapest after an accident?

After an accident, most people expect their car insurance to go up a little, but at State Farm, the price is only $14 more than drivers with a clean record pay. Moreover, at $65 per month, State Farm is well below Allstate’s $82 and the national average of $113.

Which is cheapest after a DUI?

DUI rates from most companies can be astronomical. So much so that many drivers choose not to drive rather than pay the premiums. But both State Farm and Allstate come back with a price that beats the national average. State Farm’s $75 per month saves you $324 per year when lined up against Allstate.

Allstate vs. State Farm Car Insurance: What discounts does each offer?

Our Methodology and How We Compared Allstate and State Farm

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.

Frequently Asked Questions: Allstate vs. State Farm