| Allstate auto insurance is the largest publicly held insurer in the United States. The company sells every type of insurance from auto, home, life and commercial insurance. It was founded in 1931 as part of Sears, Rubrick & Co. In 1931 the president and board chairman, General Robert E. Wood suggested that Sears start an auto insurance company. He came up with the name Allstate, which was borrowed from an automobile tire that was sold at the time in the Sears catalog. The company is based out of Northbrook Illinois. On May 17, 1931, William Lebnertz became their first policy holder when he insured his 1930 Studebaker, costing his $41.60 for a 12 month policy. By the end of that year the company had signed up over 4,200 policies. In 1938 Allstate was the first company to begin to tailor auto insurance rates by age, mileage and use of car. It was the first company to create a sophisticated rate classification system giving better rates to safer drivers. After this was established all other insurance companies began to follow suit. They have been involved in many safety movements over the years. In the 1960’s they helped to convince the government that seatbelt use should be mandatory, as well in the 70’s and 80’s they played a instrumental role in advocating the safety benefits of airbags. In 1993 they became a publicly traded company and at the time the initial public offering was the largest in US history. They became totally independent on June 30, 1995, after Sears sold off all of their stocks. The company now has more then 17 million policy holders. Allstate auto insurance is one of the oldest and largest insurance companies in the world. You can visit the official Allstate website, or go to the brokers page to find a list of Allstate insurance brokers. You can also get an online insurance quote in order to find the lowest prices in your area. |
