Allstate insurance premiums cost 24.3% more than State Farm

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Allstate insurance premiums cost 24.3% more than State Farm

Unread postby RatPak11 » Wed Jul 04, 2012 3:40 pm

http://www.marketwatch.com/story/automo ... 2012-07-03

July 3, 2012, 7:15 p.m. EDT

Automobile.com survey reveals Allstate annual insurance premiums cost 24.3% more than State Farm
The latest Automobile.com consumer cost comparison survey shows Allstate policyholders pay more for insurance each year than State Farm policyholders

LOS ANGELES, July 3, 2012 /PRNewswire via COMTEX/ -- Automobile.com recently published the findings of a commissioned survey comparing car insurance policy costs between Allstate and State Farm. The research revealed Allstate policyholders pay an average of 24.3% more for insurance annually than State Farm customers.

In the survey, Allstate customers reported paying an average of $996.19 each year while State Farm respondents reported paying $801.63. Policyholder age and amount of miles driven seemed to be two of the biggest differences between the two customer groups. Allstate customers were more than two years younger than State Farm customers on average. Allstate customers also reported driving more on a daily basis. 16.32% more Allstate policyholders reported driving over 20 miles daily compared to State Farm policyholders.

"The insurance company comparison studies we conduct are among the most interesting to me because the consumer is constantly bombarded with advertisements and company slogans promising the lowest insurance rates available," Automobile.com columnist Andrew Evans said. "While there are many variables that determine the cost of insurance for an individual, we saw a statistically significant cost disparity between Allstate and State Farm customer responses."

Automobile.com also launched a brand new research section of the website that will contain all past and future cost comparison surveys and industry research. The auto insurance resource relies heavily on consumer input and participation, according to Evans.

"Automobile.com is unique in the fact that we actively seek out responses from our users," Evans said. "We present exclusive research and articles that will help drivers make the best decisions when it comes to choosing car insurance coverage."

For more information, visit http://www.automobile.com/research.html or call 866-225-7883. Follow @Automobilesite on Twitter and Pinterest or "like" the company on Facebook.

Disclaimer: This press release is for informational purposes only. The data, facts, figures, and estimations included in the press release were obtained from several public and private institutions in addition to consenting user responses through commissioned surveys. Automobile.com is in no way affiliated with any person or company heretofore mentioned and makes no warranty or guarantee of the authenticity, accuracy or permanence of the information presented in the press release.

SOURCE Automobile.com
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