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Allstate Value Plan Review [2020]

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Reviewed byJoel Ohman
Founder, CFP®https://res.cloudinary.com/quotellc/image/upload/insurance-site-images/truthaboutins-live/2020/03/joel-ohman.jpg

UPDATED: Sep 2, 2020

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Here’s what you need to know…

  • Allstate Value Plan is part of the Your Choice Auto options with several different levels
  • There might not be as much value as you think. The higher levels come with an extra plan charge
  • Allstate Platinum Plan will cost you 15 percent more than the Standard plan
  • Allstate offers many different discounts that you can add on to your coverage

What are the Allstate Value Plan rates? Should you upgrade your coverage? Is the Allstate Platinum Plan worth it? The Allstate Value Plan is a so-called value program on television nowadays, but they’re not giving a lot of detail about what the plan incorporates, although it does seem to offer the same types of car insurance just with different add-ons. Enter TTAI.

We did a little digging to see exactly what the Allstate Value Plan auto insurance coverage offers, and it turns out there’s a reason they don’t discuss the details. It appears there really aren’t any. At least nothing noteworthy.

The Allstate Value Plan is actually one of four options in their Your Choice Auto arsenal. In fact, it’s the bottom-level option, so we’re going to tell you what it’s not, rather than what it is – which is a basic auto insurance policy.

Just because Allstate offers value plans and discounts, that doesn’t mean they have the best deal out there. The Allstate Value Plan quotes you receive will be lower. When you buy Allstate Value Plan, you may not be getting the insurance you need.

The best way to make sure you are getting the coverage you need at the cheapest price is to compare quotes from different companies. That way, you can decide if the Allstate Platinum Plan is worth it for you.

Enter your ZIP to start comparing your Allstate coverage to other companies.

Affordable Allstate Value Plan provides less than Platinum Plan

First, is Allstate Insurance any good? A survey conducted by the Insurance Information Institute lists Allstate as number four in the top ten auto insurers.

People also ask, “Is Progressive better than Allstate?” The answer changes. Allstate and Progressive rank so close together that the winner depends on the specific factor you are looking at. 

Now that we know the company is one of the top carriers in the nation, let’s look at the levels themselves.

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What is Allstate Platinum Protection?

The Allstate Platinum Plan is the highest available level of protection for your car, as you may expect. This means the most additional bells and whistles are available with this plan. But the benefits come at a price.

You can expect to pay about 15 percent more for this plan.

Is the Allstate Platinum Plan worth it? What extras do you get?

1. Accident forgiveness – your fault or not and will get you a five percent discount. And, the forgiveness begins right away rather than after you’ve “earned it.” Read more about how accident forgiveness works.
2. Deductible rewards – You earn an immediate $100 off your collision deductible and an additional $100 off each year with no accident – $500 off maximum. Similar to the Vanishing Deductible over at Nationwide. States have different requirements for how much you can take off of your deductible.
3. Allstate Safe Driving Bonus CheckHow much is the average Allstate Safe Driving Bonus check? You can earn up to 5% of your premium back every six months for accident-free driving.

Since the biggest draw for this level is the accident forgiveness, let’s look at how an accident can affect your car insurance rates. This table shows you the average annual rates for drivers with accidents and traffic tickets.

Average Annual Car Insurance Rates Based on Driving History
CompaniesAverage Annual Rates with a Clean RecordAverage Annual Rates with One AccidentAverage Annual Rates with One DUIAverage Annual Rates with One Speeding Violation
USAA$1,933.68$2,516.24$3,506.03$2,193.25
Geico$2,145.96$3,192.77$4,875.87$2,645.43
American Family$2,693.61$3,722.75$4,330.24$3,025.74
Nationwide$2,746.18$3,396.95$4,543.20$3,113.68
State Farm$2,821.18$3,396.01$3,636.80$3,186.01
Progressive$3,393.09$4,777.04$3,969.65$4,002.28
Travelers$3,447.69$4,289.74$5,741.40$4,260.80
Farmers$3,460.60$4,518.73$4,718.75$4,079.01
Allstate$3,819.90$4,987.68$6,260.73$4,483.51
Liberty Mutual$4,774.30$6,204.78$7,613.48$5,701.26
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One accident can raise your rates with Allstate an average of $97 a month. If you are accident-prone, you might consider the Allstate Platinum Plan a worthy option.

There are many factors that determine your car insurance rates besides your driving history. Factors like age, credit history, where you live, and how far you commute can all affect your rates.

Value Plan is Not Gold Plan

The next notch down is the Allstate Gold Plan, which costs seven percent more than the standard policy. Not quite as comprehensive as the Allstate Platinum Plan, but can hold its own. What does Gold offer that the Value Plan doesn’t?

1. Accident forgiveness for one accident, but it takes three years of being accident-free to qualify (Allstate Platinum Plan is better if you intend to be a repeat offender). Your rates won’t increase if you only get in one accident every three years.
2. Deductible rewards – same as in Platinum above which gives you $100 off of your collision deductible, an extra $100 off each year, and the limit on the reward is $500.

This level might not be worth the seven percent extra for the policy, especially if you are a pretty safe driver. If you are a loyal customer who doesn’t look to change auto insurance companies often, then this might be a good plan for you.

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Value Plan is Not Standard Plan

We’re getting near the bottom of the barrel here, but we are not to the Allstate Value Plan yet. The Standard level policy still has a bell (or whistle).

1. Accident Forgiveness – not as lenient as Allstate’s Gold or Platinum Plans, this program option will allow you to enroll in accident forgiveness after you have proven yourself worthy…five years down the road.

This plan might be a good option if you are a loyal customer since you have to stay with the company so long to get your accident forgiveness. However, you may be able to save more if you shop around for car insurance, especially if you are a good driver who doesn’t typically get in accidents.

 

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Allstate Value Plan Provides Value

There are no bells and/or whistles at this level. It’s a basic auto insurance policy without all the hype and options to spend more money. Sometimes that’s all you need, and you just want to be legally able to drive your car.

Allstate coverage limits will meet state minimum requirements in your specific state. Then you can add additional coverages, like comprehensive, collision, or personal injury protection. You can also add specific coverages like Allstate tape coverage, which covers damage to DVDs and CDs if you have a sound system.

Well, there is free enrollment in Good Hands Roadside Assistance and a five-percent Allstate discount for paying your bill upfront in full, along with standard Allstate auto insurance discounts ,like the Allstate Safe Driving Discount. For example, car safety features, good grades, and multiple policies will all get you Allstate discounts.

But not much more beyond that. Oh, and new car replacement is optional coverage available if you buy any Your Choice Auto package. The Allstate auto replacement protection option costs another two percent and will cover the depreciation of your car if it is less than three years old. The protection will replace your car with a new one for free.

You also take advantage of the discount programs offered by Allstate.

Milewise will allow drivers to pay less for car insurance if they do not drive very far. Drivers use a device that tracks how far a car is driven. The company says drivers can save an average of 20 percent.

Allstate Milewise reviews are mixed. Some users like it, but other users are not happy that the device tracks your driving habits as well as your mileage, and there is a daily surcharge whether you drive or not.

Allstate also offers a program called Drivewise. This program uses a device you install in your car that tracks your driving habits. A driver can save up to 15 percent if they are a safe driver. Allstate Drivewise reviews from 2018 seem mostly positive, as are Allstate insurance reviews company-wide.

The best car insurance Allstate provides is the Allstate Platinum Plan. The Platinum Plan is worth it if you want the most comprehensive coverage for your car or your family’s safety.

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So it looks as if Allstate has spent so much money on advertising their additional coverage options and pushing the “dollar for dollar” pitch that they may have decided to go back and focus on their basic policy, the Allstate Value Plan.

And it turns out if you spend a few hundred million dollars on advertising that explains why your coverage is generally more expensive than other insurers, people will get the impression that you’re too expensive to even bother with. At least those who don’t purchase on emotion.

Not everyone has the option to spend money on additional coverage like the Allstate Platinum Plan; they just need insurance.

If you feel slighted, don’t. Insurance is highly competitive because there’s so much profit to be made. These national insurers have to advertise like crazy to continue to grow their company.

The good news is you can comparison shop and save. Many companies offer coverage similar to the Allstate Platinum Plan or the Allstate Value Plan. Grab an insurance quote online to shop your rate with multiple insurers all at once to ensure you get the most value for your buck!

Enter your ZIP to compare your Allstate rates with other companies now for the best rates out there.

References:

  1. https://www.iii.org/fact-statistic/facts-statistics-insurance-company-rankings
  2. https://mycardoeswhat.org/safety-features/

 

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