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Rates & Affordability: How Do They Stack Up?
When it comes to price, State Farm generally offers lower average homeowners insurance rates than Allstate at the national level, though 2026 data sources vary. Based on NerdWallet's 2026 comparison, State Farm averages $2,415/year versus Allstate's $2,715/year for a standard policy. Insurify puts State Farm even lower at $2,133 for $300K dwelling coverage, while Insurance.com's 2026 analysis shows State Farm at $2,448 nationally versus Allstate's $2,385. LendingTree's 2026 data lands in a similar zone: $2,427 for State Farm and $2,560 for Allstate.
Here is how the two compare across common coverage tiers (Insurance.com 2026 data):
| Coverage Level | State Farm Avg. Annual Rate | Allstate Avg. Annual Rate |
|---|---|---|
| $200K dwelling | $1,915 | $1,689 |
| $300K dwelling | $2,448 | $2,049 |
| $400K dwelling | $2,977 | $2,715 |
For context, Insurify projects the overall national average home insurance cost will hit around $3,057 per year by the end of 2026 after a 12% jump in 2025 and another projected 4% rise, so both carriers can still be competitive depending on your profile. To dig deeper into 2026 rate drivers, see our 2026 rate increase guide.
State-by-State Rate Snapshot
Rates vary dramatically by location. A few 2026 examples from LendingTree and Compare.com:
| State | State Farm | Allstate |
|---|---|---|
| Arizona | $1,488 | $2,520 |
| Arkansas | $3,348 | $4,595 |
| Delaware | $648 (cheapest in state) | ~$953 |
| Illinois | $2,280 | Rising 8.8% in 2026 |
| Texas | $4,488 | Rising 8% in 2026 |
| Vermont | $972 | $928 |
State Farm wins on price in most states, but Allstate can come out ahead in select markets like Vermont. Allstate is also filing significant rate increases in 2026: Illinois regulators approved an 8.8% average homeowners increase (some homeowners up to 10.4%) effective February 24, 2026, affecting more than 209,000 policyholders. Texas got hit with an 8% overall increase (new business January 26, 2026; renewals March 12, 2026) covering 851,934 policyholders, and Mississippi saw additional 6% to 10.1% Allstate filings with mid-2026 effective dates. Check our cheapest and most expensive states guide to see where your state lands nationally.
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Coverage Options & Policy Features
Both State Farm and Allstate offer comprehensive homeowners insurance, but the depth of their coverage menus differs in meaningful ways.
State Farm Coverage Highlights
State Farm uses proprietary homeowners forms rather than pure ISO templates, but they deliver protection comparable to standard policy types:
| Policy Function | Coverage Type | Best For |
|---|---|---|
| Broad (HO-2 equivalent) | Named perils only | Budget-conscious owners |
| Special (HO-3 equivalent) | All-risk for dwelling, named perils for contents | Most homeowners |
| Comprehensive (HO-5 equivalent) | All-risk for dwelling and contents | Broad, robust protection |
| Modified (HO-8 equivalent) | Named perils; ACV payout | Older or historic homes |
Additional coverages include: an automatic Increased Dwelling Limit (up to 20% above your chosen amount at no extra cost), inflation guard, home systems breakdown, service line coverage, water backup, ordinance or law, personal injury, earthquake endorsements (in select states), and up to $15,000 in Cyber Event, Identity Restoration and Fraud Loss coverage available in every state except North Carolina.
Allstate Coverage Highlights
Allstate's standard HO-3 policy covers the same core components (dwelling, other structures, personal property, liability, and additional living expenses) but also offers several distinctive add-ons often bundled into its Enhanced package:
- Claim RateGuard, your premium will not increase after a single covered claim (select packages)
- Deductible Rewards, $100 off your deductible at signup, plus $100 for each claim-free year up to $500 total
- Claim-Free Rewards, 5% back on renewals for each claim-free year
- Green Improvement Reimbursement, upgrade to eco-friendly materials after a covered loss
- Electronic Data Recovery, covers lost digital files after a covered event
- HostAdvantage, coverage for belongings when renting out your home on platforms like Airbnb
For a broader look at how different policy types compare, see our guide on how to compare home insurance.
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Discounts, Customer Satisfaction & Financial Strength
Discount Programs
Allstate offers a wider variety of discounts, while State Farm focuses more heavily on home safety and structural upgrades.
Allstate Discounts:
- Multi-policy bundling (home + auto), up to 25%
- Claim-free discount
- New home discount (up to ~46% for qualifying new construction)
- Early signing / advance purchase (~6% average savings)
- Responsible payer discount
- Easy Pay Plan (autopay)
- Protective devices (deadbolts, alarms, smoke detectors, sprinklers)
- Windstorm mitigation (Florida and select states)
State Farm Discounts:
- Home-Auto bundling (advertised savings up to $1,429/year, averaging around $847 in real savings)
- Impact-resistant roofing
- Claims-free discount
- Home Alert (fire, burglar, smart monitoring)
- Automatic sprinkler systems
- Wildfire mitigation (select states)
- Updated plumbing, wiring, or HVAC (utility rating plan)
- Deadbolts and fire extinguishers
For a full breakdown of discounts across all major insurers, see our home insurance discounts guide.
Customer Satisfaction Ratings
Neither insurer ranks in the top tier of 2026 third-party evaluations:
| Rating Source | State Farm | Allstate |
|---|---|---|
| J.D. Power 2025 Home Insurance Study | 829 CSI (mid-pack) | 829 CSI (mid-pack) |
| J.D. Power 2026 Property Claims Study | Below average | Around average |
| NerdWallet 2026 Best Home Insurers | Best big national insurer | Solid, mid-tier |
| NAIC complaint index | ~0.52 (fewer than expected) | Elevated in some states |
Amica leads J.D. Power's 2026 Property Claims Satisfaction Study with a score of 773, followed by The Hartford (756) and Chubb (744), with Liberty Mutual (722) rounding out the top four. Neither State Farm nor Allstate cracked the top three. The 2026 J.D. Power U.S. Home Insurance Study wave 2 results and press release are scheduled for September 15, 2026, so full 2026 homeowners satisfaction rankings will refresh shortly after this article.
Claims Handling
The 2026 J.D. Power U.S. Property Claims Satisfaction Study brought good news for the industry overall, with satisfaction improving as repair and payment cycle times shortened. Amica ranked #1 for the 12th time in the category (773), followed by The Hartford (756), Chubb (744), and Liberty Mutual (722). State Farm and Allstate both landed in the middle of the pack, with State Farm scoring around 661 in the 2025 study (below average). Allstate partially offsets its claims performance with its Claim RateGuard feature, which prevents your rate from rising after a single covered claim.
Financial Strength
This is where 2026 data has shifted meaningfully. Both companies remain financially strong, but State Farm's main group was recently downgraded:
- State Farm Mutual (main P/C group), downgraded from A++ (Superior) to A+ (Superior) by AM Best on November 14, 2025, along with a Long-Term Issuer Credit Rating cut from "aa+" to "aa" after five consecutive years of underwriting losses driven by tough auto and home results, heavy catastrophe losses, and regulatory constraints. Balance sheet strength is still assessed as "strongest" and the outlook is stable.
- Allstate core subsidiaries, A+ (Superior) by AM Best, reaffirmed August 28, 2025 with a stable outlook.
Note that State Farm General Insurance Company (its California-only subsidiary) currently holds a B (Fair) rating from AM Best after wildfire losses. For the rest of the country, State Farm's main group and Allstate now sit at the same A+ Superior tier, closing the gap that existed a year ago. Learn more about top-rated carriers in our best home insurance companies of 2026 guide.
Allstate's Financial Rebound
Allstate posted Q2 2026 net income of roughly $3.2 billion (up about 56% year over year, with diluted EPS of $8.99 versus $5.94 a year ago), driven by strong underwriting results and higher investment income. The homeowners segment swung to a $226 million underwriting profit versus a $76 million loss a year earlier, with the homeowners combined ratio improving 7.4 points from 102.0 in Q2 2025 to a profitable 94.6 on higher earned premiums and lower catastrophe losses. Allstate's overall Property-Liability combined ratio improved 4.5 points to 86.6, and its 10-year homeowners combined ratio of 92.0 continues to beat the industry. That balance sheet momentum helps explain why Allstate is aggressively raising rates and gaining market share.
Pros & Cons
Which Insurer Is Right for You?
The best choice between State Farm and Allstate depends on your specific homeowner profile. Here is a quick breakdown:
| Homeowner Profile | Better Choice | Why |
|---|---|---|
| Budget-focused, most states | State Farm | Lower average premiums |
| First-time or new-construction buyer | Allstate | New home discount up to ~46% + Deductible Rewards |
| Older or historic home | State Farm | Modified policy form + valuation flexibility |
| Home-sharing host (Airbnb) | Allstate | HostAdvantage coverage |
| Claims-averse, wants rate protection | Allstate | Claim RateGuard |
| Eco-friendly homeowner | Allstate | Green improvement reimbursement |
| Prefers local agent support | State Farm | Largest agent network |
| High-value home | State Farm | Broad coverage + 20% dwelling buffer |
| Digital-first shopper | Allstate | Stronger app and online tools |
| Looking to bundle home + auto | State Farm | Up to $1,429 advertised savings |
With home insurance premiums approaching $3,057 nationally and rising for a fifth consecutive year, it is more important than ever to compare quotes annually, even if you plan to stay with your current carrier. Our home insurance rates 2026 guide offers actionable ways to lower your premium without cutting essential coverage.
You may also want to see how these two giants stack up against other competitors. Our Progressive vs Travelers comparison, our detailed Allstate home insurance review, and our State Farm homeowners insurance review are great next reads if you are still shopping around. For broader market context, see our 2026 market stabilization outlook.
Frequently Asked Questions
Is State Farm or Allstate cheaper for homeowners insurance?
State Farm is generally cheaper for most homeowners at the national level, averaging around $2,133 to $2,448 per year in 2026 depending on the data source, versus roughly $2,049 to $2,715 for Allstate. However, results vary significantly by state and coverage level, and Allstate has continued filing rate increases in Illinois, Texas, California, and Mississippi for 2026. Always get quotes from both to see which is lower for your specific home.
Which company has better claims handling, State Farm or Allstate?
Neither is a top performer. In the 2026 J.D. Power U.S. Property Claims Satisfaction Study, Amica ranked #1 (773), The Hartford #2 (756), Chubb #3 (744), and Liberty Mutual #4 (722), while State Farm scored below average and Allstate landed roughly average. Allstate partially compensates with its Claim RateGuard feature, which prevents your premium from rising after a single covered claim. If claims service is your top priority, our best home insurance companies guide covers higher-rated alternatives.
Can I bundle home and auto insurance with both State Farm and Allstate?
Yes, both offer multi-policy bundling discounts for combining home and auto insurance. State Farm advertises up to $1,429 per year in bundling savings, with real-world savings averaging closer to $847, while Allstate's bundle typically saves 10% to 25%. Allstate's Drivewise program also offers safe-driving discounts and cashback rewards on top of the standard bundle. See our bundling home and auto guide for a full carrier comparison.
What unique coverage does Allstate offer that State Farm doesn't?
Allstate offers several distinctive add-ons not available from State Farm, including Claim RateGuard (premium protection after a claim), Deductible Rewards (up to $500 off your deductible), Claim-Free Rewards (5% back per claim-free year), HostAdvantage (protection for home-sharing hosts), Green Improvement Reimbursement, and Electronic Data Recovery coverage. These features can be especially valuable for tech-savvy homeowners, first-time buyers, or those who rent out their home through platforms like Airbnb. Allstate was also the first major insurer to introduce dedicated home-sharing coverage.
How do State Farm and Allstate compare in financial strength?
Both insurers now hold the same A+ (Superior) AM Best rating. State Farm was downgraded from A++ to A+ on November 14, 2025 after five consecutive years of underwriting losses, while Allstate's core subsidiaries were reaffirmed at A+ in August 2025. One important exception: State Farm General (its California-only subsidiary) is rated B (Fair) by AM Best. Allstate's Q2 2026 net income of roughly $3.2 billion (up about 56% year over year) and its return to profitability in the homeowners segment (combined ratio 94.6, $226M underwriting profit) show significant balance sheet improvement.