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Allstate Review

Sunday, April 14th

2024 Business Insurance Provider Reviews

Allstate Review 2 Star Rating

Allstate

2 Star Rating
  • Over 9 decades of presence in the insurance industry
  • Commercial automobile coverage available
  • Online quotes are available upon furnishing accurate business information
  • informative website
  • Customized business owner plans tailored to specific industries

As a renowned name in the insurance world, Allstate claims that it aims to keep your business "in good hands" with policies that cater to your company's specific needs. With Allstate business insurance quoting, you can get coverage for a variety of industries and professions, including artisan/specialty contractors, carpenters, plumbers, electricians, landscapers, realtors, doctors and dentists, lawyers, florists, and more. Their website displays educational content, offering adequate explanations of various business insurance coverage types, claim filing procedures, and an array of other topics that might prove beneficial to small business owners, especially if they are not informed about business insurance.

Can combine regular business coverage with commercial auto

To find out about available coverage for your business, you can click on "Get a quote". Unlike other business insurance companies, because Allstate already has a strong market presence in automobile insurance, you can also obtain commercial auto insurance. This was the first option presented to us after clicking "Get a quote" , but we had to access an obscure text link to continue to just business insurance instead of auto.

Quote process can be aggravating

To produce a business insurance quote, the Allstate Business Insurance website will require several pieces of information: your industry, the type of coverage you require (BOP, business umbrella, workers' compensation, transported tools and equipment, commercial auto, or professional liability, revenue). However, we had some trouble with our business scenario of narrowing down our selection specifically to "Web Designer" . The closest we could get to it was "All other professional services" . When we arrived at that page, we were told that Allstate was unable to complete our quote without an agency getting involved. And, some business insurance products are not Allstate insurance policies. We felt forced to choose a different profession in "Graphic Design" to arrive at where we could get a quote. At one time in our attempts to narrow down the profession, the website broke and we couldn't go back to prior selections, so we had to start over. A simple search bar to try to narrow down the profession would have been more helpful.

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You may be redirected to a local agent

Once we found a suitable business category, we proceeded to attempt to get a quote. However, Allstate could not complete the quote in our chosen U.S. state and referred us to a toll-free number to contact a local agent. We also had the option of clicking a "Continue" button which, confusingly, took us to another domain name. On that site, we could search for the exact name of the profession and get closer to Web Development and we could enter most of the information. Still, we became stuck when asked about the construction type of the office location, which assumed that the business location was limited to a commercial building, not a home-based business. We chose a type of building that was close enough to the home construction in our scenario and completed the quote process.

Quotes may come from other insurers

In about 90 seconds, the site had calculated an annual premium of only $596.47 for a home-based, sole-proprietorship web design business. That included a $1,000,000 general liability occurrence limit and a $2,000,000 general liability aggregate with a property deductible of $250. The insurance was to be underwritten not by Allstate but by The Hartford, which made us wonder if we should have gone to The Hartford first.

Policies can be customized to your exact business needs

Despite those frustrations, one of the advantages of buying business coverage through Allstate is the opportunity to get a tailored policy. For instance, your bakery might need a Business Owner's Plan that bundles property insurance, liability insurance in case a customer sustains an injury on-site, business interruption coverage to recoup lost income and expenses during a covered claim, and equipment breakdown coverage in the event of a power surge damaging your ovens, mixers, and other appliances.

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Agent contact may be required for add-on coverage

Allstate provides various add-ons that you may wish to contemplate for your policy. While basic business insurance policies are typically quotable through their online tool, you may need to chat with an agent to add these riders to your coverage. Unfortunately, unlike when we reviewed Allstate before, you won't find the "Find an agent" button conveniently located below the "Get a quote" button across the Allstate site.

No love from the insured

Allstate, in the past, has enjoyed an impeccable reputation, underscored by its once "A+" rating from the BBB and more than 80 years in the industry. However, this time around we found that their rating was changed to "Not Rated" and Allstate had a sizable number of more recent complaints putting them at a 1.1 star rating. Additionally, their Trustpilot score is now made up of a staggering 92% 1- and 2-star ratings. Only 6% of customers give them a 5-star rating. We found this unacceptable for such a well-known brand in the insurance industry.

Not recommended for business insurance

For all of these reasons, we cannot recommend Allstate for business insurance. The quote process was a hassle, we had a hard time getting a quote that was a fit for the business scenario we used across insurers, and the higher-ranked companies on our list had no trouble getting us coverage we could afford. Even if you feel some kind of loyalty to Allstate as a whole, you should look at your options before even trying for a quote here.

Where Can You Find the Best Business Insurance?

In a world becoming more legally sensitive, protecting your company from accidents, property damage, or injuries is critically important. It plays a pivotal role in safeguarding a business against a a myriad of risks. And in many states and industries, it's not just a good idea but something you have to do.

Even where it's not required, business insurance is a popular idea. In today's world, companies operate in an environment fraught with risks, ranging from natural disasters and accidents to legal liabilities. Without insurance, these events could lead to substantial financial burdens that might cripple or even bankrupt a business. Insurance policies act as a financial cushion, ensuring that a business can recover and continue operations.

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Business Insurance Provider FAQ

There are two main areas of coverage: business liability and commercial property. The former is used in the event that someone holds your company liable for injury, damages or loss; the latter covers damaged or stolen business property, plus any buildings you own (not lease).
Unless you've got money to burn, you need insurance coverage to protect you from any number of unexpected situations: a slip-and-fall at your store, an employee injury at your warehouse, or damage to a customer's home during a project, just to name a few. Lawsuits, medical bills, and property damage claims get expensive, and business insurance helps mitigate those risks and costs.
That will depend on several factors, including but not limited to state laws where your business operates and any licensing requirements for your specific industry. If you have employees, you'll likely be required to have workers' compensation coverage, and any vehicles owned by your business (and not you as an individual) need a commercial auto insurance policy.
That also depends on your state and your industry. At a minimum, expect that you'll need general liability insurance (which is often required as part of a client contract or commercial lease), plus workers' comp if you have employees and commercial auto if your company owns vehicles. Beyond that, you'll need to consider how your business operates and what specific types of policies might be required or just a good idea (such as Liquor Liability if you own a bar).
As with any other type of insurance, your premiums for business policies depend on many factors: the size of your company and number of employees, desired coverage limits, annual revenue and business location. However, most small businesses pay $65/month on average for General Liability coverage, $99/month for Business Owner Policy (which bundles property insurance with general liability), and $111/month for Workers Compensation.
It's true that most insurers only offer standard one-year policies, with prorated refunds if you cancel before the 12 months are up. But, with more and more people working in non-traditional ways (gig economy, freelancers, event specialists, and so on), the business insurance industry is evolving to keep up. There's at least one company that specializes in business insurance with short-term options: hourly, daily, monthly, depending on the company's needs.
Typically, yes! The premiums for your policy are a business expense and can be deducted like any other cost.
Absolutely. Some of the biggest names in the insurance industry allow business owners to get quotes directly through their websites. Other insurers specialize in online-only service, allowing you to get your quote, policy, and proof of coverage with just a few clicks. Of course, you should do your due diligence and select an insurer with a strong reputation before committing to a business insurance policy.
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Continued from above...

The insurance needs for any business can vary depending on its size. For example, small businesses often have different challenges compared to larger ones. Meeting the insurance needs that big companies can handle with lots of resources can be harder for small businesses. That's because small businesses don't have as many employees, accountants, and lawyers.

The legal landscape is another area where business insurance is indispensable. Liability claims and lawsuits are commonplace in the business world. Without adequate insurance, legal expenses and settlements can pose existential threats to a company. Insurance policies focused on professional liability, general liability, and other specific risks mitigate the financial impact of legal challenges, allowing a business to focus on their core activities rather than litigation.

But figuring out the right insurance can be confusing. After all, it's not an "exciting" business expense, protecting yourself against situations that you hope don't happen, but it's a big help when unexpected things do.

So, how can you figure out the exact coverage and how much you need? Instead of going to a local agent right away, who might not know a lot about small businesses, people are increasingly turning to online searches to find an insurance company with knowledge and specialty in the business world.

As you look into different places to get business insurance, keep these things in mind:

  • Types of coverage. Make sure the coverage options available are what you need. Are you limited to basic liability plans, or can you make a policy that's right for your business?
  • Convenience. See how easy it is to find information and get quotes on the website. Do you have to talk to someone before you can get coverage?
  • Reputation. Has the service or company been reviewed by the Better Business Bureau? Look at what other business customers say about their experience during the application process and after they get the policy.

Today's market has a bunch of top business insurance providers, and the experts at Top Consumer Reviews have researched and ranked some of the best-known names in the industry. Our goal is to help you get the coverage your company needs to protect it from expensive lawsuits, liability issues, and unexpected problems.

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