Geico vs Liberty Mutual

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Geico and Liberty Mutual are two of the most prominent insurers in the U.S. Geico has been writing policies since 1936, and was acquired by financial guru Warren Buffet in 1996. The famous gecko mascot came online in 1999. Geico policies are underwritten by a variety of companies, such as Maryland Automobile Insurance fund, and it is the second largest auto insurance company in America, with 6% of the market.

Liberty Mutual is the fourth largest insurance company in the U.S., with 5% of the market. The company was founded in 1912, and sells policies in 29 countries and economies across the globe. It values corporate sustainability and works toward becoming a community partner in regions where it sells insurance.

Geico vs Liberty Mutual: car insurance rates comparison

In a Geico vs Liberty Mutual comparison, Geico excels in several categories, including financial strength, as determined by AM Best, and customer satisfaction, as is seen in J.D. Power’s rankings. Geico’s average annual premiums for minimum and full coverage (which includes collision and comprehensive) are reasonable, while Liberty Mutual does not make this information public.

Car insurance company Bankrate Score AM Best J.D. Power Average annual premium for minimum coverage Average annual premium for full coverage
Geico 4.6 A++ 871/1,000 $433 $1,405
Liberty Mutual 3.9 A 867/1,000 N/A N/A

Rates by credit score

Your own rates for auto insurance will be determined in part by your credit scores. The better your credit ranking, the lower your premium. When looking at Geico vs Liberty Mutual, Geico’s average rates, as determined by Quadrant Information Services, are generally lower than the national average. Liberty Mutual does not make its rates public, but it can be assumed that the worse your credit is, the higher your rate will be – on trend with national rates. A few states prohibit the use of credit scores to determine premium rates, including California, Hawaii, Maryland and Massachusetts.

Car insurance company Poor Average Good Excellent
National average $3,873 $1,865 $1,674 $1,487
Geico $1,978 $1,505 $1,405 $1,312

Rates by age

Another important factor in determining your rate is your age. Young drivers generally pay more for insurance, since statistically, they are most likely to be involved in accidents that require a claim on their insurance. As you get older, your insurance rates will go down, which is true for both Geico, as is seen in the chart below. Once again, rates are not available for Liberty Mutual, but it can be assumed that rates will follow the national trend of getting lower as you age.

Car insurance company Age 16* Age 18* Age 25 Age 30 Age 40 Age 60
National Average $2,531 $5,243 $2,108 $1,850 $1,674 $1,544
Geico $1,897 $3,672 $1,674 $1,465 $1,405 $1,326

*16 year old cost when added to parents’ policy, 18-year-old renter

Rates by driving record

Your insurer does not want you to file claims, because these can be costly, so it will reward you for good driving habits. Both Geico and Liberty Mutual will probably give you lower premium rates if you have a clean driving record than if, say, you have several speeding tickets or have been in an accident. The most serious increase in your premium will come if you have a DUI conviction, which is taken seriously by both the law and your insurer.

Car insurance company Clean driving record Speeding ticket Accident DUI conviction
National average $1,674 $3,336 $2,405 $2,029
Geico $1,405 $1,734 $1,971 $3,064

Geico vs Liberty Mutual: discounts

In determining the benefits of Liberty Mutual vs Geico, it pays to look at the discounts offered. Both Geico and Liberty Mutual have a generous assortment of discounts: Geico offers 16 standard discounts, while Liberty Mutual has 17. Discounts may be your best option for reducing your premium rates, and it is worth looking at the savings they offer.

Geico

  • Anti-theft system — Geico offers a potential 23% savings if you have an anti-theft system on your car.
  • Federal employee — If you are a current or retired federal employee, you may qualify for the Eagle Discount of up to 12% on your total auto insurance premium.
  • Membership and employee discounts — Geico gives a discount to members of more than 500 groups, which range from alumni associations to professional organizations.

Liberty Mutual

  • Good student discount — If you are a student and have a GPA of B or higher, you may be able to get a discount. There is also a potential discount if you are away at school and only drive occasionally.
  • Alternative energy — If your car is electric or a hybrid, Liberty Mutual may reward you with a discount.
  • Accident free — If you are accident free and/or violation free, you may earn some savings on your premium rate.
  • RightTrack — if you agree to use an app that monitors your driving in real time you may be able to save up to 30% for being a safe driver.

Geico vs Liberty Mutual: online and mobile experience comparison

In determining which insurer is the best – Liberty Mutual vs Geico – one factor to consider is the mobile apps that each company has. These apps can help you manage your insurance business easily, no matter where you are, and more.

Geico

  • App Store (4.8 stars) — Geico’s app for Apple users is comprehensive: it includes the ability to access digital ID cards, pay your bills, find roadside assistance and more. Geico Explore offers augmented reality to help you to find gas stations or even your own car.
  • Google Play (4.8 stars) — This comprehensive app allows you to manage digital ID cards, pay your bill, find roadside assistance and submit and manage claims. You can also manage your vehicle’s care needs, with maintenance reminders and Geico Explore augmented reality to customize your experience.

Liberty Mutual

  • App Store (4.8 stars) — Access your ID cards and policy documents, pay your bill, update information and electronically sign docs. You can also tap to call for emergency roadside assistance, file and manage claims and use a guided photo-taking experience to obtain a repair estimate easily and quickly.
  • Google Play (4.6 stars) — Manage your insurance business on the go with Liberty Mutual’s app, which allows you to make changes to your coverage and file and manage claims. You can search for auto repair shops, schedule a damage review and request a rental vehicle. Once your claim is filed, you can view repair estimates, track repairs and more.

Frequently asked questions

Who has the best car insurance in 2021?

There are a number of insurers writing solid policies for car owners, and finding the best one for you means getting several quotes to see who offers you the best premium rates. A good place to start is Bankrate’s Best Car Insurance Companies for 2021 listing, which includes all the top-rated insurers who are writing policies today.

How can I save money on my car insurance?

Your first step is to make sure you are applying all the discounts that you are entitled to. Every insurer has them, and it is just a matter of working with your agent to make sure they are considering all for which you are eligible. Many are easy to earn — such as a paid-in-full discount or one for agreeing to receive your documents electronically.

How much does car insurance cost?

Almost every state has certain minimum amounts of insurance that you need to have to drive legally. Most insurance experts recommend that you carry more than the minimum, however, in order to be adequately covered. The average cost of full coverage in the U.S. is $1,674 per year.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Credit: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base), and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining auto insurance rates: CA, HI, MA

Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. 16-year-old rates were factored as the added cost to their parents’ policy; 18-year-old rates were calculated as drivers who rent their primary residence.

Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction (BAC of >= .08) and lapse in coverage.

Bankrate Scores

Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength (AM Best, S&P, Moody’s) and customer experience (J.D. Power, NAIC), in addition to average quoted rates from Quadrant Information Services. The J.D. Power studies utilized include the 2020 Auto Insurance Study and the 2020 Auto Claims Study. Our Bankrate editorial team’s extensive research and analysis provided a secondary assessment of each insurer’s online and mobile resources and policy management options, which also contributed to overall ratings.

Written by
Mary Van Keuren
Insurance Contributor
Mary Van Keuren has written for insurance domains such as Bankrate.com, Coverage.com and Thesimpledollar.com for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including reviews.com and myslumberyard.com. Prior to that, she worked as a writer in academia for several decades.