Liberty Mutual vs. Nationwide Auto Insurance Comparability 2022 – Kelley Blue Ebook

Are you trying to decide between Liberty Mutual and Nationwide? Both companies offer drivers extensive coverage options, but at different tariffs.

Below we compare the car insurance options from the two insurers so that you can make the best choice for your situation. For more information on the companies, see our Nationwide Car Insurance Review and Liberty Mutual Car Insurance Review.

Auto coverage options from Liberty Mutual and Nationwide

Both Liberty Mutual and Nationwide offer key insurance coverage options:

In our article on the common types of motor vehicle insurance, you will find out what you should pay attention to when taking out insurance.

Additional features and products from Liberty Mutual and Nationwide may be available as basic protection add-ons. Some insurance products may not be available in every state.

  • Roadside assistance
  • Rental car insurance
  • Medical reimbursement

Nationwide and Liberty Mutual offer home insurance policies that allow policyholders to obtain discounts by bundling insurance types. The companies also offer insurance coverage for other vehicles, including motorcycles and boats.

GAP and carpooling

In addition, both companies offer guaranteed asset protection, commonly known as GAP insurance. This product covers the difference between the value of your car and what you owe on your car lease or loan, and you pay the additional coverage on your monthly bill. For more information on this type of coverage, see our article: What is GAP Insurance?

When you've financed a newer car, GAP insurance will help you avoid paying for a wrecked car that you no longer own. Either company can add it to your plan if you need that coverage.

One difference between the insurance options is that Liberty Mutual offers ridesharing insurance in some states. This coverage provides additional protection for drivers who use their vehicles for commercial operations through services such as Uber or Lyft.

Carpooling companies offer their own policies to protect their drivers. Additional ride-sharing insurance offers protection if the driver status is “available for rental”. That means they only pay for coverage when driving, and the details vary by state. If you are using your car for ridesharing, check with your representative to see what additional protection these companies can offer you.

Average Nationwide and Liberty Mutual insurance rates

Many factors affect car insurance rates. Each person's reward is unique based on risk factors such as driver's license, age and creditworthiness. Liberty Mutual insurance rates are generally higher with major insurers, and Nationwide coverage costs are lower. According to The Zebra, Liberty Mutual's average monthly premium is $ 144. At Nationwide, the average policy is $ 90 per month.

Nationwide offers lower average annual awards for all driver ages, according to The Zebra.

Age group Nationwide Liberty Mutual
Teenagers $ 3,624 $ 6,559
20s $ 1,582 $ 2,686
30s $ 1,582 $ 1,942
40s $ 1,151 $ 1,926
50s $ 1,114 $ 1,793
1960s $ 1,028 $ 1,746

Source: the zebra

Does Liberty Mutual or Nationwide have better customer satisfaction?

When buying auto insurance, you shouldn't just pay attention to who is offering the lowest price. Your insurance company should provide good customer service, respond quickly when you need help, and pay for any submitted claims.

A U.S. auto insurance study by J.D. Power 2021 provides important insights into customer satisfaction. The survey takes into account essential criteria:

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

Poll results for Liberty Mutual and Nationwide are similar. The opinions and experiences of customers with the companies are rated as "average".

Who has better financial strength, Liberty Mutual or Nationwide?

An insurance company's ability to meet its financial obligations becomes critical when you get into a fender, or your car is stolen, or when a tornado occurs and your car is destroyed and you have to pay compensation.

Assessments of the financial strength and ratings of A.M Best, Moody's and S&P show the ability of an insurance company to meet its financial obligations. According to The Zebra, Liberty Mutual operates with "good" financial strength. Nationwide ratings show that its strength is "superior".

Although company ratings are different, either freight forwarder can cover their customers' needs.

Nationwide and Liberty Mutual Premium Discounts

One of the easiest discounts you can get from freight forwarders is to combine auto insurance with home, rental, boat, motorcycle, or any other insurance policy. Most insurers will encourage their customers to bundle their coverage. Be sure to ask Nationwide and Liberty Mutual for multiple policy and vehicle bundling options.

RELATED STORIES: Stacked vs. Unstacked Insurance: Everything You Need To Know

Liberty Mutual and Nationwide policyholders may be eligible for perks available as policy add-ons and premium discounts:

  • Telematics monitoring for safe driving or mileage-based insurance
  • Forgiveness of accidents
  • Discount for car / home bundling
  • Injury-free / accident-free discount
  • Guaranteed repairs
  • Good student discount

Liberty Mutual offers a discount on green vehicle insurance and a military discount. When choosing Nationwide, ask for discounts on taking a defensive driving course.

Liberty Mutual vs. Nationwide: Which Is Better For You

Request a quote from various insurance companies before making your final decision. Shopping in the area will always give you the best price, but remember that cost is just one factor to consider.

Which car insurance is best for you depends on your needs. Both Liberty Mutual and Nationwide offer all the major insurance options so you can get the coverage that suits your needs. Liberty Mutual and Nationwide bring average customer satisfaction. However, Nationwide will likely offer a lower premium policy.

While insurance costs are a significant concern for most drivers, there are many different factors that you should consider. Before you take out new insurance, especially when buying a new car, find out about the exact scope of insurance.

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