For the first two months of Q3, Allstate’s catastrophe losses are estimated at $397 million—about half of what they were during the same period last year. The Bigger Picture: Allstate vs. State Farm and ProgressiveAllstate’s numbers are solid, but how does it stack up against its biggest competitors? In homeowners’ insurance, Allstate is a strong player. But State Farm? Rising reinsurance costs, fierce competition from State Farm and Progressive, and the ever-present threat of severe weather keep the pressure on.