How We Reviewed Allstate Business Insurance
10 hours of research
5 features assessed
4 industry ratings analyzed
Allstate Business Insurance Review
Allstate business insurance offers 36 types of small business coverage, insuring everything from accounting services to bakeries. Allstate employs certified agents who are tasked with working with small business owners in order to customize coverage specific to their individual needs. Among the coverage options are mainstays like property and liability insurance, but also more unusual options for equipment and data breaches. However, while Allstate does offer a plethora of policies for small to mid-sized businesses, larger commercial clients — manufacturing, wholesale, etc. — may need to look elsewhere.
If you’ve seen the commercials, you know that with Allstate, you’re in a good hands. Its mission is to provide customers with the best coverage to protect them whenever life attacks.
Is it true?
In terms of overall satisfaction, Allstate ranks above many of our other favorite business insurance providers in the 2018 U.S. Small Commercial Insurance Study. It earned perfect scores for price and the overall billing and payment process, indicating that you are indeed “in good hands” when it comes to regular policy management.
Allstate also offers a wide range of coverage options, with packages tailored for 36 different business types, including accounting services, veterinarians, craft stores, bakeries, and more. However, whether or not the coverage could be considered the best depends on the size of your business; Allstate lacks the same breadth of options for larger businesses. For example, if you do any manufacturing or wholesale, you would want product liability insurance — a product not covered by Allstate. J.D. Power’s study reinforces this, awarding Allstate only a three out of five in the policy offerings category.
Of course, none of this means that Allstate isn’t a good provider. With solid financial backing and agents on-hand to guide you through the insurance-buying process, it’s a competitive player among other industry giants like Nationwide and Progressive. If you have a small business, it’s absolutely worth including Allstate in your quote comparison.
Small businesses looking for affordable insurance
Large or mid-sized businesses seeking liability insurance policies and specialized coverage
|Price||Quotes differ from person to person|
|In business since||1931|
|Standout features||36 small-business packages
Insurance resource blog
5 liability insurance coverages
13 property insurance coverages
Online bill payment
24/7 claims support
|A.M. Best financial strength rating||A+ ("Superior")|
|A.M. Best issuer credit rating||Aa ("Superior")|
|Moody's rating||A3 ("Strong")|
Solid basic coverage
Allstate is a terrific option for the sheer diversity of coverage options offered for small to mid-sized businesses, with 36 business-specific packages. Whether you own a professional office, a service establishment, a restaurant, or a retail shop, Allstate delivers the property and general liability coverage you need to protect the financial viability of your business operations.
Online quote tool
Allstate’s site includes an intuitive quote tool, a feature that many insurers have yet to implement. Allstate’s online quote tool makes getting quote faster and more convenient — no added pressure of scheduling time to speak with an agent who may try to upsell you.
Allstate’s online Tools and Resources section is a fantastic resource for virtually any insurance shopper. In addition to general insurance and safety topics, the site includes a whole resource section on business insurance to help you prepare for buying your first business policy. Allstate’s site particularly stands out for its “Smart Search” feature — just type in “business insurance tips,” for example, and the site directs you the most relevant articles about buying business insurance, reducing costs, and making the most of your policy.
All roads lead to agents
Allstate’s online tools and quote tool greatly simplify the insurance shopping process. However, any specific questions you have about discounts that are not readily available online will require contact with a local agent. Allstate agents are available in all 50 states and Washington, D.C., and Allstate’s “find an agent” tool makes it easy to locate the one closest to you.
Missing add-on coverage options for large businesses
Special liability coverage for manufactured products, for negligence claims, and for personal and advertising injury claims are not options in an Allstate business owner’s policy. Depending on the type of business you operate, these kinds of liability policies can be crucial to the design of a business insurance package that delivers comprehensive protection. These options are fairly standard with big-name competitors like Farmers and Nationwide, making them a better option if you need protection for a large business.
Allstate vs. Nationwide
Allstate and Nationwide are major players in the business insurance space, with both offering 24/7 claims support and an extensive menu of coverage options. However, the two have different strengths depending on the size of business you’re looking to insure: Allstate provides a far greater number of targeted protection options for small business types, while Nationwide offers the manufacturing and wholesale distribution protections that Allstate lacks. Our recommendation? If you have a small business, go with Allstate; if your coverage needs are more robust, Nationwide may be a better choice.
Allstate vs. Farmers Insurance
While Farmers Insurance and Allstate both earned three out of five stars for overall satisfaction in J.D. Power’s Small Commercial Insurance Study, Allstate scored higher in pricing, payment process, and claims handling. When you’re a small business and you need to file a claim quickly, you need a provider that will handle your claim as efficiently as possible. In this sense, Allstate delivers. However, Allstate isn’t perfect: If you’re a larger business, Farmers may offer you more specific coverage (such as building ordinance coverage for apartment owners).
Allstate vs. Progressive
If you own a trucking business, Progressive is likely the best choice for insuring your vehicles and securing your business interests. Progressive boasts one of the most exhaustive listings of commercial auto insurance we’ve ever seen, with 24 coverage options for commercial auto policies alone. It also offers a variety of small business coverage packages, though not nearly as many as Allstate. We recommend gathering quotes from both to see what they can offer you.
Allstate Business Insurance FAQ
What is data compromise coverage?
Allstate business insurance comes with a variety of optional coverage options, including data compromise coverage. In the event that there is a data breach at your business, this coverage helps reimburse expenses that may stem from the breach. These covered expenses include legal fees, plus credit monitoring and resources for affected customers or employees.
Will Allstate business insurance cover my office rental?
Yes. Whether you own the property or you are renting an office, Allstate can cover your business. Of course, you should speak with an agent to discuss the specific nature of your work and what you need covered; they will be able to help you make an informed decision moving forward about what specific types of coverage you may need for your rental.
What is Equipment Breakdown Coverage?
Allstate’s Equipment Breakdown Coverage can help cover the cost of damaged or broken-down equipment that is vital to running your business. It can also help pay for lost business due to faulty equipment, property damage liability costs, and mandatory inspections.