POV: date=January 2008

Products available

Allstate sells 13 major lines of insurance, including auto insurance, home insurance, life insurance, and commercial insurance. Allstate also offers retirement and investment products, and banking services. Its advertising campaign is centered around its "Your Choice Auto" product, which offers accident forgiveness and lower deductibles.Allstate Insurance

Catastrophe exposure management

Allstate has stated intentions of reducing its exposure in hurricane-prone Florida. In November, Allstate began dropping 120,000 policies that were up for renewal at that time. Governor Charlie Crist and the Florida Cabinet passed a 90-day emergency order to temporarily prevent insurance companies from dropping policies. On February 20, 2007, Florida Insurance Commissioner Kevin McCarty clarified the order, stating that insurance companies can drop policies if they satisfy certain conditions, including filing new, lower rates with the state and give customers 100 days notice. Allstate is currently under investigation by the Florida Department of Insurance as to whether it conspired with other property insurers to artificially keep premiums high.

Allstate also currently is not renewing policies in the NYC area and on Long Island because of the threat of a major hurricane in the years to come. Homeowners policies can be written through Allstate with another company like TSC and many others.

On May 11, 2007 Allstate announced it would no longer offer a homeowners insurance product in California, however, Pacific Specialty Insurance Company homeowners insurance is available in every California Allstate Agency.

Competition

Criticism

In July of 2008, the American Association for Justice, an organization of trial lawyers, ranked Allstate No. 1 among nation's worst insurers, this ranking was given because: “While Allstate publicly touts its ‘good hands' approach, it has instead privately instructed its agents to employ a ‘boxing gloves' strategy against its policyholders,” said American Association for Justice CEO Jon Haber. “Allstate ducks, bobs and weaves to avoid paying claims to increase its profits.”. Allstate criticized the report, with a spokesman noting that "The personal injury lawyers behind this report provide no support for their statements other than decade old recycled allegations that have been shown to be without merit in courts of law."

Auto insurance claims

An article published on May 2006 in Business Week details how Allstate routinely tries to deny its policy-holders their full legitimate benefits, often paying out less than they're entitled to. Business Week writes:quote: "Claimants in the 'good hands' category may get swift reimbursement, but they will end up with less than they're entitled to," he says. Those who hold out for more — and retain a lawyer to help them get it — face battering in the courts and potentially years of delay. "You can get your claims resolved promptly or fairly," he argues, "but not both." Also according to the article, "Allstate deploys a variety of systems...to make sure it pays the minimum necessary — and it plays hardball with those who seek more."