GEICO vs. Liberty Mutual 2022 Automobile Insurance Comparability – Kelley Blue E book

GEICO and Liberty Mutual are major companies with a long history in the automotive insurance industry. Both companies offer drivers policies with different benefits and different costs. Read on for our comparison of these popular insurers.

For more information on these companies, see our GEICO auto insurance rating and Liberty Mutual auto insurance rating.

GEICO and Liberty mutual auto insurance coverage

GEICO and Liberty Mutual offer basic auto insurance coverage such as:

Please see our article on common types of auto insurance for more information on standard protection.

Additional coverage

Additional functions and products from GEICO and Liberty Mutual may be available as add-ons to the basic protection. Some types of coverage may not be available in every state.

  • Roadside assistance and towing
  • Reimbursement of the rental car
  • Medical payments
  • Replacement car insurance
  • Additional travel insurance

Average insurance rates from GEICO and Liberty Mutual

Insurance companies use formulas with many variables to determine their rates. In addition to driving history, the driver's age, annual mileage, geographic location, gender, marital status, vehicle type and credit history are some of the factors that influence total insurance costs.

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GEICO is known for its affordable insurance rates. The average monthly premium cost at GEICO is less than $ 100, according to The Zebra. Liberty Mutual insurance coverage is in the higher cost range of auto insurance. The average monthly cost is $ 144.

This table compares the average annual premiums between GEICO and Liberty Mutual by age group.

Age group GEICO Liberty Mutual
Teenagers $ 3,508 $ 6,559
20s $ 1,438 $ 2,686
30s $ 1,218 $ 1,942
40s $ 1,189 $ 1,926
50s $ 1,160 $ 1,793
1960s $ 1,065 $ 1,746

Source: the zebra

Premium discounts from GEICO and Liberty Mutual

GEICO and Liberty Mutual policyholders have the option of reducing their premiums with discounts such as:

  • Driving safety discount
  • Accident-free drivers
  • Anti-theft equipment discounts
  • Good student discounts
  • Bundling of guidelines

Both companies offer additional discounts, such as savings for members of the military. However, some discounts may not be offered by everyone. For example, Liberty Mutual offers a discount on alternative fuel vehicles; GEICO gives a discount on a new car with the latest safety technology.

A unique feature of Liberty Mutual is the length of their auto insurance policies. Unlike most of the leading airlines, Liberty Mutual offers 12 month mutual policies. Liberty's longer policy option can help you avoid the rate increases that often come at the end of typical 6 month policies.

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Do GEICO or Liberty Mutual have better customer satisfaction?

When buying car insurance, you should consider more than the price. Some drivers believe you get what you pay for and higher prices can mean better service. Regardless of the cost, your insurance company should provide good customer service, respond quickly when you need help, and pay for submitted claims.

The U.S. auto insurance study J.D. Power 2021 provides key insights from responses from nearly 39,000 auto insurance customers. The survey measures important criteria for customer satisfaction:

  • Car insurance costs
  • Policy offers
  • Billing process and policy information
  • Customer interactions
  • Allegations

Insurance companies often receive mixed ratings for their service. GEICO achieved an "average" result in the customer satisfaction survey. Liberty Mutual achieved an “above average” rating for overall customer service.

In the J.D. Power 2021 Auto Claims Satisfaction Study, which is based on more than 7,300 auto insurance customers, scores GEICO slightly above average, while Liberty Mutual scores slightly below average. The study examined customers with settled claims within the last six months prior to the survey and excluded those with a stolen vehicle, glass or windshield damage and those who only needed roadside assistance.

Which one has a better financial position, GEICO or Liberty Mutual?

AM. It rates best the ability of insurance companies to meet their ongoing policies and contractual obligations. According to The Zebra, GEICO received a “superior” rating and Liberty Mutual's rating was “good”.

Although company valuations differ, both carriers have the financial strength to meet their customers' demands.

GEICO or Liberty Mutual: Which is Better for You?

Your car insurance needs are unique and there are many factors to consider. The cost of a policy is usually high on the list of variables. So, buy the best price by getting a quote from GEICO, Liberty Mutual and other insurance companies.

In many cases, GEICO offers cheaper premiums. Still, Liberty Mutual offers many discounts that can lower the cost of policies, and its 12 month term benefits many policyholders.

Whichever company you choose, you need to understand what is covered. Make sure it meets your needs before purchasing a policy when buying a new vehicle or extending your existing coverage.

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