When the Allstate Indemnity Company was first incorporated in 1960, its primary objective was to provide property and casualty insurance coverage to individuals. Today, property insurance has become one of the most popular forms of coverage available. Generally speaking, property insurance allows individuals to receive financial compensation in the event that a structure that they own, as well as its contents, are affected by damage or theft. Allstate Indemnity Property Insurance is one of several related products available for purchase today.
The Allstate Indemnity Company provides property insurance to individuals across the country. Generally speaking, property insurance allows individuals to receive compensation if their property is affected by damage or theft.
The Basics of Property Insurance
The term property insurance acts as an umbrella which covers a variety of specific forms of insurance coverage. For example, property insurance can include homeowners insurance as well as protection against a variety of natural disasters, such as flood insurance and earthquake insurance. In keeping with the primary objective of property insurance, each of these niches within this broad spectrum of coverage will offer financial support in the event that the designated incident occurs.
So, for example, individuals who live near a fault line and have purchased earthquake insurance will receive a financial payout in the event that their home is damaged by this natural event during the coverage period.
Personal Property Insurance and Riders
In the event that an individual is seeking to purchase coverage for an extremely high-value item that qualifies as personal property, they may be forced to purchase what is referred to as a "rider." With this rider, the insurance company is required to pay back the cost of damages or the replacement value of the specific asset in question.
Whether or not personal property qualifies for a rider is at the discretion of the insurance company rather than the individual. Riders are generally used when the insurance company determines that potential damage to the property in question outweighs the revenue gained via the standard policy.
Allstate Indemnity Insurance and Liability Coverage
Allstate Indemnity Insurance and other forms of property insurance will also provide financial support in the event that a building owner is sued by an individual who is injured or harmed while on the premises.
It is important to note here that this liability coverage is not extended to the owner of the building or tenants living inside of it. Instead, this insurance exclusively concerns those who visit the property as a guest. As could be imagined, this information is particularly useful for landlords and property owners who may experience regular foot traffic through their property.
Getting Started With Coverage
When an individual is ready to begin acquiring coverage, they can speak directly with a member of the Allstate Customer Service team. These service representatives can help a potential customer determine specifically what policies may best benefit them and ensure that they have the appropriate and necessary support base.
In the event that an insurance policyholder does need to file a claim, they can do so using their online account. With their Allstate login information, a policyholder can review their claim status and ensure that they are on the path to receiving the funds they need to restore their property to its previous condition.
Keep in mind that the size of your insurance premium will be influenced by a variety of factors relating to your property and your desired coverage. With that in mind, you should approach your insurance purchase with an open mind in order to ensure that you explore all available coverage options and find the right plan for you.
Ryan Cockerham is a nationally recognized author specializing in all things innovation, business and creativity. His work has served the business, nonprofit and political community. Ryan's work has been featured at Zacks Investment Research, SFGate Home Guides, Bloomberg, HuffPost and more.