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Allstate Motorcycle Insurance Review

Allstate Motorcycle Insurance Review

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Allstate is a household name when it comes to both auto and motorcycle insurance in the United States. Currently it is the second-largest publicly held insurance company behind State Farm. Most people have seen an Allstate commercial and remember the tagline question “Are you in good hands?” from the company’s official spokesman Dennis Haysbert. Due to the fact that they are such a big company, they also offer some of the best coverage when it comes to motorcycle insurance.

In this review I’m going to break down whether Allstate provides good value for your dollar and discuss some of the ins and outs of the company as a whole. As with every review written on this website, I discuss aspects of the company history, explain various types of coverage you can look into if you need coverage, as well as whether they have received favorable ratings from sources like AM Best. As you should know, it’s never too late to switch insurers and find a company that offers superior coverage for your motorcycle.

Allstate Company History

Back in 1925 there was a contest held by Sears, Roebuck & Company in which people submitted entries to come up with an innovative name for a new brand of car tires. All entries were gathered and the name “Allstate” was selected as the winning name among over 2 million ideas. The name was trademarked in 1926 and Sears began selling their Allstate brand of tires. This helped greatly in expanding the market for Sears. However, it wasn’t until 1930 that an insurance salesman named Carl Odell came up with the idea of selling car insurance via direct mail. He submitted the idea for approval and in Sears ended up approving it in 1931. This allowed Sears to sell insurance directly to customers via mail – which further expanded upon their business.

Carl Odell went on to become vice president of the company, while Lessing Rosenwald was appointed as the first chairman. In 1933 Allstate began selling insurance at the Sears pavilion in Chicago – this ended up becoming the first official insurance office for the company. In the early 1940s only about 25% of drivers in the United States had liability coverage for their vehicles. Due to the fact that not enough people had adequate coverage, laws were passed that forced drivers to be held responsible for all damage and injuries as a result of car accidents.

In the 1950s the sales manager David Ellis came up with the company tagline “You’re in Good Hands.” By the early 1960s Allstate had decided that the “you’re in good hands” trademark would be used by their advertisement department to help promote the company via TV and radio. It was during this time that the company began rapidly expanding and turned into an insurance giant when they added fire insurance, life insurance, as well as workers compensation insurance. They also expanded their coverage beyond the U.S. confines to Canada. Additionally they began selling surety bonds, ocean marine insurance, and types of business insurance before 1970.

In addition to simply being an insurance brand, Allstate began manufacturing vehicles, motorized scooters, fire extinguishers, as well as tires and an array of car parts. Although most of these products didn’t work out well in terms of sales, the insurance aspect of Allstate remained strong. By the late 1970s the company had eliminated all products and strictly sold insurance. It wasn’t until the early 1990s that Allstate finally went public (1993) and became an independent business entity (1995).

When the company established its independence, it also created its own stores and offices for the purpose of selling insurance and providing customer support. It wasn’t until 1999 that Allstate came up with new agreements regarding contracts for independent sales agents selling their insurance. The company further expanded itself in 1999 when it purchased personal lines division of CNA Financial – changing the identity to Encompass Insurance Company. In 2003 the company expanded upon its marketing efforts by hiring Dennis Haysbert to promote the new motto, “That’s Allstate’s stand.”

In 2007 Thomas Wilson became CEO of the company following the fallout of Edward Liddy who served from 1999 to 2006. More efforts were poured into innovate upon the somewhat straightforward, practical, bland marketing when they hired actor Dean Winters for a “Mayhem” campaign. In this new campaign, the company strives to showcase the potential dangers of not having a reliable insurance provider. Most would agree that these commercials provide elements of comedy and harsh reality that capture the target audience.

Allstate Motorcycle Insurance Coverage Options

Obviously this is the meat and potatoes of what you should be reading if you are even slightly interested in Allstate motorcycle insurance. As you know, you need insurance if you ride a motorcycle – point blank period. The important things to determine are whether the company you are interested in has the type of coverage that you are looking for at a reasonable price. So what does Allstate have to offer? Let’s take a look and break it down.

Bodily Injury Liability – This provides adequate insurance to cover medical expenses if you cause an accident and injure someone. Should someone have to visit the hospital or die as the result of an accident that you caused, this insurance will cover the expenses. This also typically covers any injury sustained to a passenger on your own motorcycle in the event of an accident. Things like medical expenses, time off work, pain and suffering are typically picked up with this coverage.

Collision Coverage – According to their website, Allstate will pay for damage to your motorcycle if you buy this type of coverage. If you collide with any other vehicle or something else like a big boulder, an overhanging tree, or brick wall – they will pay for vehicle damage so that you can get repairs.

Comprehensive Coverage – Although purchasing this type of coverage is optional, Allstate offers it if you want extra protection for your ‘cycle. In any event that your motorcycle is damaged by severe weather (i.e. floods, hail, tornado, hurricane, etc.) all damages will be insured. Additionally, things like animal damage, vandalism, and theft are all covered with a comprehensive plan.

Lease/Loan Gap Coverage – If you have a lease on your bike, you obviously will want some type of gap insurance. This will help you cover the differences between your bike cost and the remainder on the lease/loan.

Medical Payments – This insures any medical expenses that are accrued via injuries to your passengers or yourself. Some examples of these types of expenses include: surgery, ambulance transportation, hospital stay costs, dental visits, et al.

Optional Parts Coverage – This option will provide you with up to $30,000 in coverage for parts that make your motorcycle unique. This will allow you to insure all specializations/customizations done to your bike.

Personal Injury Protection (PIP) – This is basic coverage that you will want to get if you live in a “no fault” state. If there is no driver held primarily “at fault” for an accident, this will help pick up medical expenses, funeral costs, lost income, child care, etc. following an accident. This will provide you with basically anything that you need help with as a result of your accident.

Property Damage Liability – Anytime you get into an accident and cause damage to property (e.g. stores, housing, etc.), you are responsible for making the payments. For this reason, you will want to make sure that you have adequate insurance to cover the expenses.

Rental Reimbursement – Should you have your bike stolen or damaged, Allstate will pay for rental expenses so that you can rent a vehicle.

Rider Protection – If you are involved in a severe/fatal accident, this will provide you or your family with cash benefits – regardless of who was at fault.

Towing & Labor Costs – Should your motorcycle need to be towed following an accident, this will pay for any associated expenses as well as labor – pretty self-explanatory. This also covers expenses for repairs at the shop when your ‘cycle breaks down.

Trailer Damage Insurance – This covers sustained damage to your motorcycle trailer and/or loss of it as the result of an accident. If you care about your trailer, this may be an aspect of coverage to consider.

Uninsured/Underinsured Motorist Bodily Injury – If the party that you get into an accident with doesn’t have adequate insurance (i.e. is underinsured) you will want to protect your own behind by purchasing this type of coverage for your motorcycle. Check your state requirements to determine the amount of coverage that you need.

Allstate Motorcycle Insurance Payment Options

There are a variety of payment installment options that you will have as a customer with Allstate.

One Time Payments – You can pay your insurance in a “one time” payment. This involves paying a large fee in advance for a specific amount of coverage over a specified time period.

Recurring Payments – You can set up a timely billing via credit card that will bill you automatically whenever you have accrued expenses on your insurance policy. Generally you give Allstate your credit card information, they give you coverage, and you have the option of getting billed on a recurring basis.

Custom Payments – Most companies including Allstate allow customized scheduling in regards to making payments. Monthly billing is one example of something that could be customized. Another option would be every 3 months or 6 months. It depends on the person, policy, and other details. Discuss this with Allstate if you are interested in a customized payment schedule.

Allstate Payment Methods

  • Credit Card (Visa, MasterCard, Discover, American Express)
  • Debit Card
  • Direct Check
  • EFT (Electronic Funds Transfer)
  • In Person
  • Mail
  • Online eCheck
  • Phone

Does Allstate offer paperless billing?

As with the majority of competitive insurance companies, Allstate does offer paperless billing for their policyholders. This allows customers to simply pay their bills online so that they don’t need to worry about insurance statements and keeping tabs on excess paper. Another nice thing with paperless billing is the fact that all information and payment records are saved to your online account – this is very convenient. Their website states that this could help you: save time, keep records easier, and access statements 24/7.

Allstate Motorcycle Insurance Discounts

After you have gotten a free quote, your best bet is to check up on additional things that you can do to save money with Allstate. They offer a lot of great savings options and according to the official Allstate website, you “could save up to 40 percent.” Although most companies promise major savings, it is up to you to determine whether this is truly the case. Below are some discounts that you could receive for a policy with this company.

  • Good Rider Discount: 10%
  • Multiple Motorcycle Discount: 35%
  • Multiple Policy Discount: 30%
  • Organization Member Discount: 10%
  • Safety Course Discount: 5%
  • Transfer Discount: 10%

A.M. Best Rating: A+ (Superior)

In terms of independent ratings, Allstate ranks among the top companies – that’s probably why they are the second largest insurer in the United States. They have been rated A+ (Superior) by the A.M. Best Company. Additionally, they have been given a “very strong” financial rating by Standard & Poor’s. It is always a good idea to take a look at the independent ratings for an insurance company so that you know how strong they are in terms of finances. Financial strength shows that they have the ability to offer savings and treat their customers right in terms of claim settlements.

At the moment, Allstate has about an 80% customer satisfaction rating, which is solid. Customer data on their own website based on around 800 reviews has given them an average score of 4.2/5 stars. However, based on collected information, approximately 1/5 people tend to have a major complaint with the company. In 2008, they were ranked among the “worst insurers” by American Association for Justice based on the fact that they tried to avoid paying certain claims. Complaints are not rampant, but if you do a little bit of research on your own and digging, you will find problems with policies and plenty of disgruntled customers. This company is among the elite, but the editor suggests being very careful in making sure that the price you are quoted matches what you actually pay with Allstate.

Get Free Allstate Motorcycle Insurance Quotes Online!

In order to make sure that you are getting a good deal on your insurance, it is important to see how Allstate’s motorcycle insurance policy compares to that of other companies. There are tools on this site that will allow you to compare companies and quotes. Start by entering your zip code in the form below or at the top of the page and see what the leading providers are in your area for coverage and savings. To get quotes is 100% free of charge and is pretty darn easy. Check it out and see what you stand to save!

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