Jane Dotson
Allstate and Nationwide are two of the most popular insurance companies in the United States. Both companies offer a range of insurance products, including car, life, and homeowners insurance. When it comes to choosing between Allstate and Nationwide for homeowners insurance, there are several factors to consider, including cost, coverage options, customer satisfaction, and available discounts.
| Characteristics | Values |
|---|---|
| Customer satisfaction | Nationwide has a 74% customer satisfaction rating, compared with Allstate at 83%. |
| Customer loyalty | Nationwide is No. 3 for customer loyalty, while Allstate is No. 6. |
| Claims satisfaction | Nationwide earned below-average marks in J.D. Power's customer satisfaction survey. Allstate has a slightly higher NAIC rating. |
| Coverage | Both companies offer car, life, and motorcycle coverage. Nationwide also offers boat, homeowners, pet, farm, commercial insurance, annuities, mortgages, mutual funds, pensions, and long-term savings plans. |
| Discounts | Nationwide offers more discounts to customers across the board than Allstate. |
| Rates | Allstate has cheaper rates with an annual average premium of $2,098 compared to Nationwide at $2,746. |
| Geographic availability | Allstate operates in every state. Nationwide operates in 46 states and Washington, D.C. |
| Mobile app | Both companies offer mobile apps with features like fingerprint and facial login, access to accounts, and roadside assistance. |
| Roadside assistance | Allstate offers three levels of roadside service alongside or separate from an Allstate insurance policy. Nationwide partners with Agero to provide roadside assistance services. |
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Customer satisfaction
Allstate has a higher overall rating in the Insure.com survey, scoring 4.2 out of 5 stars, compared to Nationwide's rating of 4.0 stars. Allstate also has cheaper rates, with an average annual premium for homeowners insurance of $2,098, compared to Nationwide's $2,746. Additionally, Allstate scored higher in customer satisfaction, with 83% of customers surveyed saying they were satisfied with how their claims were handled. A higher percentage of Allstate customers expressed overall satisfaction with their experience.
However, Nationwide has a slight edge when it comes to discounts and bundling options. The company offers more discounts across the board, and their auto and home bundling discount is slightly higher than Allstate's. Nationwide also scored higher in customer loyalty and is generally viewed as a trustworthy company. In The Zebra's customer satisfaction survey, Nationwide placed 10th overall, while Allstate finished in ninth place.
When it comes to car insurance, Nationwide has lower average rates than Allstate in every driver category analysed. Nationwide also scored higher in customer service, claims handling, and customer loyalty in a survey conducted by US News. Nationwide's sample annual rate of $1,621 is 22% below the national average, while Allstate's rate of $3,374 is 63% higher.
Both companies have their strengths and weaknesses in terms of customer satisfaction. While Allstate has higher overall ratings and cheaper rates, Nationwide offers more discounts and slightly higher ratings in certain areas, such as customer service and claims handling. Ultimately, the decision between the two companies depends on individual priorities and specific needs.
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Discounts
Nationwide offers a vanishing deductible that lowers your deductible for each year you drive safely. It also provides a discount for bundling your auto and homeowners insurance with the same carrier. Additionally, Nationwide has a larger auto-home bundling discount compared to Allstate.
On the other hand, Allstate offers 14 available discounts, including a telematics program that rewards safe drivers with discounts. The company also provides a range of insurance packages that can be customized to suit individual needs.
It's important to note that not everyone qualifies for every discount, so it's essential to carefully review the discounts offered by each company to determine which ones apply to your specific situation and will result in the most significant savings.
Both Nationwide and Allstate have their own unique discount offerings, so it's worth comparing their discounts side by side to identify which company will provide you with the most value and help keep more money in your pocket.
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Coverage options
When it comes to coverage options, both Nationwide and Allstate offer a range of insurance products, including car, life, and homeowners insurance. However, there are some differences in the specific coverage options offered by each company.
Nationwide provides optional coverages such as towing and labour, rental car, and gap insurance. The company also offers a vanishing deductible, which lowers your deductible for each year you drive safely. In addition, Nationwide partners with Agero to provide roadside assistance services, which include services like towing, tire changes, jump starts, fuel delivery, and locksmith services.
On the other hand, Allstate offers three levels of roadside service alongside or separate from an Allstate insurance policy. Annual roadside membership plans and pay-per-use plans are available. Allstate also offers a range of insurance packages that can be customized to meet the specific needs of their customers.
In terms of discounts, Nationwide offers more discounts across the board, especially when it comes to bundling home and auto insurance. However, Allstate has more available discounts overall, with 14 compared to Nationwide's 11.
When it comes to customer satisfaction, the two companies have varying rankings. Allstate scored higher in The Zebra's customer satisfaction survey, with 83% of customers expressing satisfaction with how their claims were handled. On the other hand, Nationwide ranked higher in the US News survey, scoring higher in customer service, claims handling, and customer loyalty.
It's important to note that the availability of specific coverage options and discounts may vary depending on your location and individual circumstances. Therefore, it is always a good idea to compare quotes and offerings from both companies to determine which one best suits your needs.
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Financial stability
Nationwide is a Fortune 100 company with a full range of insurance and financial services across the country. It is available in 46 states and Washington, D.C., and offers various insurance types, including homeowners, car, life, and umbrella policies. Nationwide has an excellent AM Best score of A for financial stability, indicating its strong financial position. The company also has fewer-than-expected customer complaints, according to the National Association of Insurance Commissioners Consumer Complaint Index.
On the other hand, Allstate is the nation's largest publicly held personal lines insurer. It offers insurance in all 50 states and has over 19,000 independent contractor agents across the country. Allstate has a superior AM Best rating of A+, indicating even stronger financial stability than Nationwide. Allstate also received a higher NAIC rating, which considers any score under one to be below average.
While both companies are financially stable, Allstate's ratings indicate a slight edge in financial strength. However, Nationwide's financial stability is still strong, and it has the advantage of being a Fortune 100 company with a wide range of services.
It is important to consider other factors as well, such as customer satisfaction, claims handling, and the availability of discounts. Both companies have their strengths and weaknesses in these areas, so it is essential to weigh them according to your priorities.
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Claims handling
Nationwide has been rated highly for its claims handling in several surveys. In a US News survey, Nationwide was ranked 4th for claims handling, while Allstate was ranked 9th. The same survey also found that Nationwide received fewer-than-expected customer complaints in the National Association of Insurance Commissioners Consumer Complaint Index. Additionally, Nationwide earned an above-average score in J.D. Power's property claims satisfaction study for 2021, indicating efficient claims handling.
On the other hand, Allstate has also demonstrated effectiveness in claims handling. In a survey conducted by The Zebra, 83% of Allstate customers expressed satisfaction with how their claims were handled, compared to Nationwide's lower score. Allstate's home insurance also received fewer customer complaints than the national median, according to the NAIC rating.
Both companies offer convenient mobile apps that allow customers to file claims and check their status. Nationwide's mobile app provides easy access to accounts and facilitates filing claims and connecting with roadside assistance. Similarly, Allstate's mobile app is praised for its usefulness in managing accounts.
While both Nationwide and Allstate have demonstrated capabilities in claims handling, the specific ratings and customer feedback suggest that Nationwide may have a slight edge in this department. However, it is important to note that individual experiences may vary, and it is always advisable to compare quotes and consider multiple factors when choosing an insurance provider.
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Frequently asked questions
Allstate has cheaper rates with an annual average premium of $2,098 compared to Nationwide's average of $2,746. However, Nationwide offers more discounts to customers across the board, which may balance out the rate difference.
Allstate has a higher customer satisfaction rating of 83% compared to Nationwide's 74%. Allstate also received fewer customer complaints than the national median. However, Nationwide scored higher for customer service, claims handling, and customer loyalty in a consumer survey.
Both companies offer car, life, and motorcycle coverage. Nationwide also provides additional coverage options such as towing and labour, rental car, and gap insurance. Allstate offers three levels of roadside service alongside or separate from an Allstate insurance policy.
