Liberty Mutual vs Nationwide 2022 auto insurance comparison

Are you trying to choose between Liberty Mutual and Nationwide? Both companies offer major coverage options for drivers, but they offer these options at different rates.

Below, we compare the auto insurance options of the two insurers so that you can make the best choice for your situation. Check out our Nationwide Auto Insurance Review and Liberty Mutual Auto Insurance Review for more business information.

Liberty Mutual and Nationwide automatic coverage options

Liberty Mutual and Nationwide both offer important insurance coverage options:

Our article on Common Types of Auto Insurance gives you more information on what to look for when purchasing coverage.

Additional Liberty Mutual and Nationwide features and products may be available as additions to basic coverage. Some insurance products may not be available in all states.

  • Road assistance
  • Rental car coverage
  • Medical reimbursement

Nationwide and Liberty Mutual offer home insurance, allowing policyholders to earn discounts by grouping types of coverage. The companies also offer coverage for other vehicles, including motorcycles and boats.

GAP and carpooling options

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

If you’ve financed a newer car, GAP insurance helps you avoid paying for a damaged car that you no longer own. Both companies can add it to your plan if you need this coverage.

One difference between the coverage options is that Liberty Mutual offers rideshare insurance in some states. This coverage provides additional protection for drivers using their vehicles for business purposes through services like Uber or Lyft.

Carpool companies offer their own policies to cover their drivers. Additional carpooling insurance provides coverage when the driver’s status is “available for hire”. This means that they will only pay for coverage while driving, and the details vary by state. If you use your car for ridesharing services, check with your agent what additional protection these companies can offer you.

Nationwide and Liberty Mutual average insurance rates

Many factors influence auto insurance rates. Each person’s premium is unique due to risk factors such as their driving record, age and creditworthiness. Liberty Mutual’s insurance rates are generally higher among major insurers, and Nationwide’s coverage costs are lower. According to The Zebra, Liberty Mutual’s average monthly premium is $ 144. With Nationwide, the average policy costs $ 90 per month.

According to The Zebra, Nationwide offers lower average annual premiums for all age levels of drivers.

age range At national scale Mutual Freedom
Teens $ 3,624 $ 6,559
20s $ 1,582 $ 2,686
30s $ 1,582 $ 1,942
40s $ 1,151 $ 1,926
the 50’s $ 1,114 $ 1,793
60s $ 1,028 $ 1,746

Source: The Zebra

Do Liberty Mutual or Nationwide have better customer satisfaction?

When buying auto insurance, you need to consider more than just who is offering the lowest price. Your insurance company should provide good customer service, respond quickly when you need help, and pay for any claims submitted.

A 2021 JD Power study of auto insurance in the United States provides key insights into customer satisfaction. The survey takes into account vital criteria:

  • Cost of auto insurance
  • Policy Offers
  • Billing process and policy information
  • Interactions with clients
  • Complaints

The survey results for Liberty Mutual and Nationwide are similar. Customer opinions and experiences with businesses are rated as “average”.

Who has the best financial strength, Liberty Mutual or nationally?

The ability of an insurance company to meet its financial obligations becomes critical if you find yourself in a bumper, if your car is stolen, or if there is a tornado and your car is destroyed, and you have need a paid claim.

Financial strength ratings and ratings from AM Best, Moody’s and S&P indicate an insurance company’s ability to meet its financial obligations. According to The Zebra, Liberty Mutual operates with “good” financial strength. Nationwide’s ratings indicate that its strength is “superior.”

Although company ratings are different, both carriers can cover their customers’ claims.

Premium discounts from Nationwide and Liberty Mutual

One of the easiest discounts you can get from carriers is bundling auto insurance with home, renters, boat, motorcycle, or other insurance policy. Most insurers will encourage customers to take advantage of bundling their coverage. Be sure to inquire about policy and multiple vehicle bundling options through Nationwide and Liberty Mutual.

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

Policyholders with Liberty Mutual and Nationwide may be eligible for benefits available in the form of policy add-ons and premium discounts:

  • Telematics monitoring for safe driving or mileage-based insurance
  • Accident forgiveness
  • Car / house groupage discount
  • Delivery without violation / accident-free
  • Guaranteed repair
  • Good student discount

Liberty Mutual offers a discount on eco-friendly vehicle coverage and a military discount. If you choose Nationwide, be sure to ask for discounts for taking a defensive driving course.

Liberty Mutual vs. Nationwide: what suits you best

Ask for quotes from different insurance companies before making your final decision. While shopping you will always get the best price, but remember that cost is just one factor you should consider.

The best auto insurance company for you will vary depending on your needs. Liberty Mutual and Nationwide both offer major insurance options so you can get the level of coverage that’s right for your needs. Liberty Mutual and Nationwide provide average customer satisfaction. However, Nationwide will likely offer a policy with a lower premium.

While the cost of insurance is a big concern for most drivers, there are many different factors that you should consider. Most importantly, make sure you understand the details of what the policy covers before purchasing a new insurance policy, especially when purchasing a new vehicle.

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