Allstate Claim Satisfaction Guarantee Credit: How Much to Expect

I blogged previously about the Allstate Claim Satisfaction Guarantee now available in 31 states. Here is a further explanation of how the claims satisfaction guarantee credit will work. I obtained this information from the terms & conditions applicable in most of the states where the guarantee is available, as referenced in my previous blog post about the guarantee. This explanation is how I understand how the guarantee credit will work, but you need to confirm with your Allstate agent in your state to know how the guarantee will work for you.

I’ve never seen an auto insurance company providing a claim satisfaction guarantee offering a premium credit before, and it will cost Allstate a lot of money if Allstate fails to provide good claims service. If you are eligible for the guarantee, and you have not checked Allstate’s car insurance rates lately, you definitely should consider contacting them for a price quote. A competitive auto insurance rate, combined with this guarantee, provides a lot of value to the customer.

I’ll show you a few examples of how I believe the claims guarantee credit will work. The promise of this credit may excite you to switch to Allstate, but check out the information on my website, to make sure Allstate is a good fit for you. Another car insurance company without the guarantee, with a great price for you, and a superior customer service record, may be a better a choice for you.

If you meet the eligibility requirements for the claims satisfaction guarantee credit, the credit will be equal to the 6 month premium of your car involved in the claim, at the time of your claim.

For example, you have two cars on your auto insurance policy. Your car insurance renewed 1/1/2012, and your 6 month premium is $350 for your red car, and $250 for your blue car.

On 1/5/2012, your red car is vandalized. You place the claim, and it is paid on 2/5/2012, but you are dissatisfied with how the claim is settled. After receiving payment for the claim, you send written notice to Allstate (see my first blog post about the guarantee to see how to do this), which Allstate receives on 2/15/2012. On 3/15/2012, Allstate applies the 6 month premium of your red car, the one which was vandalized, which is $350, as a credit for the claim satisfaction guarantee, to your auto insurance premium.

So, If you paid half your 6 month premium for your two cars ($300) when it renewed 1/1/2012, and the remaining $300 is due 4/1/2012, the $350 claim satisfaction guarantee premium credit applied 3/15/2012, will take care of the $300 bill due 4/1/2012, with the remaining $50 credit to be applied at your 7/1/2012 auto insurance renewal, or may be issued as a refund to you, at Allstate’s discretion.

You get only one credit per covered loss. So, if you are unhappy with how your medical bills were paid, and you are unhappy with how the repair to your car was handled, you can only get one credit if both your injury & car damage were the result of the same accident.

I also interpret this to mean, referring to the previous example used above, if both your red & blue car were vandalized in a single occurrence of vandalism, you would be eligible for only one credit.

You can get only one claim satisfaction guarantee credit, for the vehicle involved in the claim, per policy period.

For example, if your red car is involved in another paid auto claim, after the vandalism claim, before your policy renews 7/1/2012, and you are once again dissatisfied with the claims service, you will not get another credit. If the second claim happens on or after 7/1/2012, you can get the claims satisfaction guarantee credit.

However,  let’s say your other car, the blue car in our example, is the car involved in the second paid auto claim occurring before your 7/1/2012 renewal date. if this happened, you could get another $250 credit, if you are dissatisfied with the claim
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If the claim involves a car not on your auto insurance, like damage to a car you are renting, and Allstate pays for the claim, but you are dissatisfied, you can receive a credit equal to the car with the lowest premium on your policy.

To continue with the example, if the vandalism claim did not occur to your red car, but a rental car, you would be eligible for credit of $250, the 6 month insurance premium for your blue car, the car with the lowest 6 month premium.

For new customers, if Allstate receives your written notice of claims dissatisfaction within the first 6 months of your Allstate car insurance policy, you will not get the credit until your first renewal. Also, if your car insurance policy cancels within the first 6 months, your credit will not be more than the prorated 6 month premium for the vehicle involved in the claim, or what you paid for the auto insurance.

Returning to the example, if, instead of your auto insurance policy renewing 1/1/2012, let’s say that was the day you switched your auto insurance to Allstate.

Instead of getting the $350 credit applied on 3/15/2012, and the credit paying for your $300 auto insurance bill due 4/1/2012, you would not get the $350 credit until your 7/1/2012 renewal bill, and you would need to pay the $300 bill due 4/1/2012, to keep your auto insurance policy from canceling for nonpayment.

Let’s say you were so unhappy with how the claim was handled, you switched your auto insurance to another company, effective 4/1/2012, and canceled your Allstate auto insurance policy effective 4/1/2012.

Your 6 month premium for the red car is $350. Allstate charges you the prorated amount for the car for the 3 months you had the insurance, which is $175, so $175 would be the amount of the credit, which should be sent to you as a refund.

However, if instead of paying $300 at the time of starting your car insurance policy on 1/1/2012, you paid $100 for one month, ignored the next bill, and the following cancel notice, and your auto insurance cancels on 4/1/2012, with $200 still owed to pay to the cancel date, your credit would only be as much as you paid — $100.

Don’t let what I just described happen to you. You not only short yourself on the possible credit, the credit will be applied to the $200 owed on the canceled policy, and you will still owe $100, which will be referred to collections, if not paid by you.

Never ignore bills, properly cancel your insurance policy, and pay what is owed, as long as you are not paying for duplicate coverage. If you switched to another insurance company, don’t forget about the old one — contact them to cancel your old policy at the same date & time your new one started.

The dates and amounts due do not include installment fees, and are not representative of any of Allstate’s billing plans, and are used only to illustrate how the claim satisfaction guarantee should work.

What do you think about this new claim satisfaction guarantee offered by Allstate? Tell me about it. Please leave a comment on my facebook page. Follow me on Twitter for important insurance consumer news and new blog entries at CarInsWatch.