Over the years, the Company has made great achievements from …show more content…
It extends from life cover policies to property policies and has significantly changed in the last five years since people want to ensure their personal properties, business properties and their lives too (Jelinek). Consequently, the performance of different insurance companies have changed widely depending on the applied techniques. Allstate Company has focused substantially on providing covers on life and homeowners, most of the people will continue insuring their lives and housesregardless of the economic depression status. On the other hand, State Farm focuses on providing cover to autos, motorbikes, and ships. Therefore, when the economic condition is poor, many people will opt to cover their lives and homes but not cars or even ship. The two insurance companies were equally affected by the stock market crash in 2008. However, they recovered very differently from the crash; by the end of 2009, roughly a year after the crash Allstate Company had recovered all it had lost. Contrastingly, State Farm had not recovered its loss until late