Muhammad Ramadan | June 23, 2023 | Personal Injury
Allstate Ranked as the Worst Insurance Company for Consumers
You may need to make an insurance claim if you suffered losses in a personal injury accident, such as a car accident. Negotiating with insurance can be a complex and challenging component of the personal injury claims process.
In most cases, insurance companies do not have your best interests at heart. Insurance companies want to make money and might try to compensate you less than you deserve.
If Allstate is your auto insurer, negotiations may be especially difficult following a car accident. The American Association for Justice (AAJ) ranked Allstate as the worst insurer for consumers.
The Allstate Corporation is a major insurance company. Popular advertisements assure consumers they are “in good hands” with the company.
But the American Association for Justice suggests otherwise.
The Illinois-based insurance company is the third-largest personal lines insurer in the United States and the largest publicly-held personal lines insurer.
Allstate reported $52.862B in revenue for 2022 to 2023, per Macrotrends. This marked a 4.73% increase year-over-year.
Do you have Allstate? The company operates under additional names, including the following:
- Allstate County Mutual Insurance Company
- Allstate Fire and Casualty Insurance Company
- Allstate Indemnity Company
- Allstate Insurance Company
- Allstate Life Insurance Company
- Allstate Life Insurance Company of New York
- Allstate New Jersey Insurance Company
- Allstate New Jersey Property and Casualty Insurance Company
- Allstate Property and Casualty Insurance Company
- Allstate Texas Lloyd’s
- American Heritage Life Insurance Company
- Castle Key Indemnity Company
- Castle Key Insurance Company
- Encompass Insurance Company
Allstate may be operating under other names as well; check the terms of your policy to be sure.
The American Association for Justice Report
The American Association for Justice suggested that consumers should be wary of Allstate. The trial lawyer’s group reviewed thousands of legal documents and financial filings in a comprehensive investigation of insurance companies. The AAJ is a nonprofit advocacy organization.
The company ranked as the worst, followed by Unum, AIG, State Farm, Conseco, WellPoint, Farmers, UnitedHealth, Torchmark, and Liberty Mutual.
The association found that Allstate, as well as the other companies, avoid paying claims. Per the American Association for Justice, efforts to avoid paying consumers include the following:
- Allstate was found to use hardball tactics against policyholders.
- The insurer rewarded executives with lavish salaries.
- It raised premiums to maximize company profits at the expense of consumers.
Allstate uses a strategy to attempt to force consumers to accept lowball claims. If consumers refuse these low offers, the company takes out its “boxing gloves.” It uses the boxing strategy to deny claims at any cost.
Consider Hiring a Personal Injury Lawyer
If you have Allstate as your insurer, negotiations could be difficult. Following your accident and loss, you may be facing significant expenses. Understandably, you expect insurance to cover your losses.
Unfortunately, you may find that Allstate presents you with a lowball offer. Since working with the insurance company can be challenging, having a skilled personal injury lawyer on your side is best. Insurance companies like Allstate stay in business in large part by receiving premiums, not paying out large amounts in settlement agreements. In fact, insurance adjusters are trained to minimize their employer’s liability whenever possible.
A personal injury lawyer can protect your rights and interests as you respond to a low offer. You deserve compensation that covers the full extent of your losses. An experienced attorney can fight for you, working to secure sufficient compensation for your accident.
Contact Our Chicago Personal Injury Law Firm For Help Today
If you’ve been injured in an accident in Chicago, Illinois, and need legal help, contact our experienced personal injury lawyers at Attorneys of Chicago Personal Injury Lawyers to schedule a free consultation today.
We proudly serve Cook County and its surrounding areas: