Allstate Life Insurance Company also offers permanent life insurance coverage. These policies offer death benefit protection, as well as the ability to build up cash value directly within the policy. The cash that is in the cash value component is allowed to grow and expand on a tax-deferred basis. Allstate homeowners insurance helps protect your house and your family. Get a home insurance quote, find coverage options, and more.

Your home is the centre of your world. It's a place where life happens; where you and your family relax, entertain and spend quality time together. That's why your home insurance should provide peace of mind, suit your lifestyle and protect the things you value most. That's where Allstate steps in. Our coverage can be customized with the options you need. We also have over 1,700 agents in 80 community-based agencies, which means we're always here for you whenever you need us. After all, there's no place like home — and there's no substitute for coverage that fits. Find out why Allstate is the right choice for you, and get an online quote today to get started.

Are you a renter? Learn more about tenant insurance. We also have condo insurance for condo owners. Learn about our range of coverage options for your personal property.

Custom coverage for the things that matter most

You can tailor Allstate's Your Choice Home® to fit your needs. Rest assured every policy protects your home and other structures (e.g., a garage or shed). It also covers your personal items, legal liability to other people and their property, and living expenses if your home needs repairs. You can also add unique options: Game and Fishing, Identity Theft and Legal Expense Coverage, and Yard and Garden coverage. And, you can choose from three levels of protection:

VIP Package

• Covers your dwelling and contents against all risks, including replacement cost (replaces contents with items of similar value, without depreciation).
• Options include Claim Forgiveness*, Disappearing Deductible** and one free custom option.

Elite Package

• Covers your dwelling for a wide range of risks.
• Covers contents for certain perils such as fire and theft, including replacement cost (repairs or replaces items without depreciation).
• Also includes the Disappearing Deductible.

Basic Coverage

• Covers the dwelling and contents for certain perils only, including fire and theft.

Additional Coverage

• Available for purchase on an individual basis, including earthquake damage, personal articles coverage (e.g. jewelry), sewer back-up (not available in all locations) and home business coverage. Quebec insludes above ground water endorsements and ground and sewer water endorsements.

We're always by your side

When it comes to home insurance, we're here to match you with the right coverage that protects your property and belongings. We also work hard to make sure you're always in Good Hands®. That means providing attentive customer care and guiding you through the process from start to finish.

• How do I know how much insurance I need? There are two main factors to consider: the first is the value of your home's physical structure. The second is the value of your personal property (including furnishings, appliances and clothing). Start by taking a detailed inventory of your items to ensure you have an accurate estimate of their value. Be sure to ask your Allstate agent about any limits or exclusions that may apply.
• How is my premium calculated? We consider a number of factors when we calculate your home insurance premium like: replacement cost (size and composition or your home, and value of contents); your neighbourhood; proximity to a fire hydrant or fire station; type of roofing; type of heating source; number of kitchens and bathrooms; and more.
• What happens if I have to make a claim? Our Claims team is here for you 24/7and we'll walk you through the process.

The Allstate Corp. is selling Allstate Life Insurance Co. to entities managed by investment firm Blackstone for $2.8 billion.

Explaining the move from Allstate’s perspective, Allstate CEO Tom Wilson referred to a strategy to grow market share in personal lines property/casualty and the need to unlock deployable capital to support property/casualty insurance business.

That is the same strategy Wilson cited last July in announcing Allstate was acquiring auto insurer National General for $4 billion.

E Quotes Insurance By Allstate Claims

“Allstate is deploying capital out of lower growth and return businesses while continuing to execute our strategy to grow market share in personal property-liability and expand protection solutions for customers,” Wilson said in announcing the life insurance unit deal.

According to transaction details, the sale of ALIC does not include Allstate Life Insurance Company of New York. The New York company has $5 billion of GAAP reserves, and Allstate said it is pursuing alternatives to sell or otherwise transfer risk to a third party.

Not only will deployable capital increase as a result of the deal with Blackstone but also the sale gives “increased transparency to the industry-leading returns of our core protection businesses,” Wilson said.

Moving in the opposite direction, two other personal lines insurers, Progressive and InsurTech Lemonade, are pursuing strategies to move into the life insurance arena.

ALIC holds approximately 80 percent, or $23 billion, of Allstate’s life and annuity reserves. The life insurance company generated net income of $467 million in 2019 and a net loss of $23 million in the first nine months of 2020.

Gilles Dellaert, global head of Blackstone Insurance Solutions, said Blackstone is continuing to grow its insurance business. “We believe our team’s extensive experience in the insurance sector and world-class asset origination capabilities will deliver significant benefits to policyholders and investors over the long term,” Dellaert said.

All statutory earnings of the life insurance business being sold to Blackstone will be retained by Allstate from Mar. 31, 2020 through closing. The transaction will reduce Allstate’s GAAP reserves by $23 billion.

Blackstone will enter into an asset management agreement for ALIC’s $28 billion of investments.

The transaction is subject to regulatory approval with an expected closing in the second half of 2021.

J.P. Morgan Securities, Ardea Partners and Lazard acted as financial advisers and Willkie Farr & Gallagher was the legal adviser to Allstate. Morgan Stanley and Credit Suisse Securities acted as financial advisers and Debevoise & Plimpton was legal adviser to Blackstone.

E Quotes Insurance By Allstate Customer Service

Here are more articles you may enjoy.

E Quotes Insurance By Allstate

Interested in Carriers?

E Quotes Insurance By Allstate Claims

Get automatic alerts for this topic.

Allstate Homeowners Insurance Quote

• Categories:National NewsTopics:2021 M&A, 2021 mergers & acquisitions, Allstate, allstate life insurance company, Blackstone Group, Business Moves & Mergers
• Have a hot lead? Email us at newsdesk@insurancejournal.com