Allstate Insurance Company

Allstate Insurance Company is a good choice for seniors looking for landlord insurance policies.A few reasons include its easy-to-navigate website, the ease of working with a local agent and liability protection included in the basic policy.

0 Reviews - Write Review
8.5
Grand Score
8
User Score
8.5
Grand Score
8
User Score
Visit Site

Seniors who desire to downsize in their retirement years, or families who are helping seniors with declining health to move into assisted senior living, may decide that renting out the senior’s house, apartment or condo is a good opportunity to generate extra income, or to wait for a seller’s market. Typically, homeowner insurance policies are not be able to provide the coverage necessary to cover damages that may occur to a rental property.

Landlord insurance offers financial protection to property owners if damages occur. It also provides legal protection, and can help to cover income loss if your rental property becomes unlivable due to unforeseen circumstances.

Grandfolk Scoring
Ease of enrollment 10/10
Coverage 9/10
Waiting period 10/10
Customer support 9/10
Discount 7/10
Cost 9/10
Deductible 8/10
Ease of enrollment
How do I enroll?
Online or by phone
Coverage
What services are covered?
Property (dwelling, other structures) and liability protection
Waiting period
How soon does the insurance become active?
Immediately following enrollment
Customer support
What support is provided?
Online quotes, claims,calculator and phone, email and FAQ access
Discount
What discounts are offered?
Up to 30% discount for multi-policy holders
Cost
How much are monthly premiums?
Varies by property condition and state of residence
Deductible
Which claims require use of a deductible?
Dwelling protection, other structures and personal property
Age Score:
10
50-65 Years
9
65-75 Years
9
75-85 Years
8
85-Above

A main component to consider relating to age friendliness for Allstate’s landlord insurance is the technological component. The website can be used to gain access to information, online quotes, and payment coverage calculators, and to receive email answers and confirmation from customer support. Although Allstate’s website is easy to navigate, seniors advanced in years who remain impartial to technology may need assistance. If this is the case, help with policy management and renewal should be sought from a family member or trusted friend.

Health Score:
9
Great Health
9
Good Health
7
Fair Health
5
Poor Health

The value of owning landlord insurance and managing a rental property in general should be considered against a senior’s state of health, both physical and mental. If a senior has an advancing health condition, the annual renewal policy should be reviewed carefully before a commitment is made.

Pros:

  • Premises medical protection is included in the basic liability coverage package.
  • Allstate’s landlord insurance policy provides better structures coverage than coverage policies of many other competitive insurance companies.
  • Allstate’s user-friendly website is easy to navigate, and many coverage policies and answers can be found with a few simple clicks.
  • There are multiple forms of contact, including email, telephone, online quotes and payment. This makes it easier for seniors to contact Allstate, and makes it easier for a senior’s family to co-manage an account.
  • The fair rental income coverage included in the liability protection helps seniors and their families in difficult situations and covers proceeds for up to 12 months.
  • As Allstate is such a large company, locations may have a variety of local agents to choose from. This allows you to develop a continuing relationship with your insurance agent.

Cons:

  • Thorough reading of the landlord insurance policy is necessary to be aware of any changes in premiums, due to various applied discounts that only last a certain number of months.
  • The use of technology to file a claim (such as using Allstate’s photo app to take pictures of damage) could be technically difficult for seniors.
  • As Allstate is one of the largest service providers in the nation, seniors will be exposed to various customer support staff, and some staff may have difficulty understanding problems frequently experienced by seniors.

Bottom Line:

According to ConsumersAdvocate.org, a trusted review source for a variety of products and services, Allstate remains in the top three insurance companies for its landlord insurance policy. The property and liability protection, along with additional add-on coverages, allows property owners to remain focused on their landlord responsibilities instead of worrying about financial assets.

As a recipient of the 2016 Corporate Social Responsibility Award and numerous other awards and recognitions for diversity, innovation and corporate measures, Allstate remains a company in good standing. Its landlord insurance policy is an exceptional coverage policy for seniors and their families.

Frequently Asked Questions:

What do I need to know about additional coverage policies?
Every insurance company will vary slightly on what it offers for additional coverage to your landlord package. For example, Allstate offers liability protection in its basic coverage package, while other companies leave liability as an additional coverage option. The type of additional coverage you may wish to purchase is based on factors such a show many rental properties you own, your geographical location and the condition of the property. 

Is an Umbrella Service Policy Included with landlord insurance?
This policy is not included with landlord insurance packages offered by most insurance companies, including Allstate. Instead, it is an additional policy that you can purchase if you need extra liability protection to protect yourself from major lawsuits and claims. This could be something to consider if you own multiple rental properties. 

Will I receive 24/7 customer support?
Allstate provides customer support 24/7. This service can be helpful for emergencies that may occur during all hours of the day or night. Other top landlord insurance agencies have online access to accounts, but limit the hours that you can speak to an agent.

More Information:

Product Details:

Landlord insurance offered by Allstate Insurance Company is a way to financially protect property owners if the property is subject to a variety of experiences including severe weather, burglary, legal action, etc. Although this type of insurance is not required by law, it is something to consider if rental property is being occupied by long-term tenants. 
There are two basic types of property protection included for basic coverage: dwelling protection and other structures protection. Dwelling protection refers to the actual rental property that tenants are residing in, such as a house, apartment or condo, and anything attached to the dwelling including decks, porches and garages. Other structures protection refers to any other buildings on your property, such as a separate garage or shed.
Basic coverage property protection can also help to cover the costs of equipment, like a snow blower or lawnmower, that stays on the rental property.Allstate covers prevalent threats including fire, smoke, windstorm, hail, water damage and falling objects. Burglary and vandalism are also covered to a certain extent, but an add-on protection may be purchased for additional coverage. 
Liability protection is also included in basic coverage.This helps to financially assist the rental owner if legal action is required to pay for another person’s injury or medical expenses in the event that an incident occurs on the property. 

Overview:

Allstate Insurance Company offers property and liability protection to property owners renting out their homes, apartments or condos. 

Package Details:

Landlords Package Policy Insurance can be purchased for as low as $40-$50/month, or $500/year. This package extensively covers a property used as a rental on a long-term basis. 

Optional Accessories or Add-on Services: Optional coverages for Allstate Landlord’s Insurance may be recommended by an agent based on geographical location, your current situation or the rental home’s condition. The add-on service options include flood insurance, vandalism and burglary, personal umbrella policy, rental property under construction, and building codes. 

Additional Company Details: 

Allstate Insurance Company is one of the largest public insurance companies in the nation, with nearly 14,000 representative agents. The company specializes in general liability coverage, life insurance, and retirement planning. Currently, auto insurance policies hover around 60 percent of all policies written by Allstate. Insurance services are provided to approximately 16 million households in the United States. Allstate corporation uses ten employee resource groups to focus on helping employees with career enhancement, commerce, company culture and community outreach. 

Contract Details: Policies with Allstate are typically renewed on a yearly basis. Before you renew, be sure to review any changes to your policy with your insurance agent. To cancel a policy, make a written request to the company. Be sure to ask about current discounts, such as multi-policy discounts, when you sign up. 

Warranty: Allstate has a claim satisfaction guarantee to help dissatisfied clients get their money back, but be sure to read the fine print.

Accreditations: Allstate Insurance Company is recognized as an industry leading company with strong financial strength ratings. Recent awards and recognitions include a place on Forbes’ 2017 Change the World list. The company was named the World’s Most Ethical Company by the Ethisphere Institute in 2015 and 2016. It was also MilitaryFriendly.com’s Military Friendly Employer Gold Winner in 2018. Allstate Insurance Company is not BBB accredited, but maintains a rating of A-. 

Company Details:

Allstate Insurance Company was founded as an auto insurance company in 1931 by General Robert E. Wood, chairman of Sears, Roebuck & Co., when Wood recognized an opportunity to sell insurance policies through mail. The Northford, Illinois-based company has grown to be the “largest publicly held personal lines property and casualty insurer in America, serving more than 16 million households nationwide”. Allstate’s company purpose: states: “We help customers realize their hopes and dreams by providing the best products and services to protect them from life's uncertainties and prepare them for the future.”

Contact: 

Allstate Insurance Company
P.O. Box 660598
Dallas, TX 75266-0598
Tel: 877-810-2920
Website: https://www.allstate.com/home-insurance/landlord-property-insurance.aspx

Kimberly Sharpe - Senior Advisor

...