Geico vs Liberty Mutual

Geico vs. Liberty Mutual comparison

When comparing Geico and Liberty Mutual, each company presents unique advantages and drawbacks for policyholders that merit consideration, particularly in the context of their third-party ratings, coverage options and discounts available.

Both companies are well-regarded in the industry, with strong third-party ratings that reflect their reliability and service quality. Choosing between Geico or Liberty Mutual involves weighing these factors to determine which aligns best with your specific insurance needs and preferences.

Geico pros and cons

Liberty Mutual pros and cons

Is Geico cheaper than Liberty Mutual?

Average car insurance premiums are not available for Liberty Mutual, so it’s difficult to determine if Geico has cheaper car insurance. However, Geico’s average rates, which were calculated by Bankrate’s insurance team with premium data from Quadrant Information Services, are much lower than the national average cost of car insurance nationwide.

Geico is generally cheaper for drivers with poor credit

Depending on your car insurance provider and where you live, your credit score can be used as an insurance rating factor. The only states that don’t allow the use of credit-based insurance scores are California, Hawaii, Maryland, Michigan and Massachusetts. In the table below, you can see how Geico’s average rates compare to the national average rates for various credit scores.

Geico is generally cheaper for young drivers

Young drivers who are newly licensed typically pay the highest car insurance rates due to younger drivers having a statistically higher likelihood of accidents and other incidents behind the wheel. However, average rates vary across insurance companies, even for younger drivers. According to our analysis, Geico’s average rates for young drivers are cheaper than the national average. The following table compares Geico’s average rates and the national average rates for young drivers on a parent’s policy.

Geico is generally cheaper for adult drivers

As drivers age and gain more experience on the road, car insurance rates typically become more favorable. In our analysis comparing Geico’s average premiums against the national average, we determined that Geico generally offers more affordable car insurance options. This trend reflects the decreased risk associated with more experienced drivers, who often benefit from lower insurance costs due to their higher likelihood of exhibiting safe driving habits.

Geico is generally cheaper for high-risk drivers

Drivers with a history of accidents, speeding tickets or DUI convictions generally pay higher car insurance rates than drivers with clean records. While some companies will underwrite policies for drivers with a DUI conviction, some insurers will not insure drivers who have gotten a DUI.

While we have average rate information for drivers with a DUI, it does not guarantee that Geico, Liberty Mutual or another carrier will offer coverage to a driver with a DUI conviction. When compared to the national average, Geico’s average premiums are cheaper for high-risk drivers.

Geico vs. Liberty Mutual: discounts

Geico and Liberty Mutual both offer unique opportunities for car insurance discounts, which could help you get a lower rate if you qualify.

Geico unique discounts

• Military discount: Active duty military service members may qualify for savings of up to 15 percent on their policy with Geico. There’s also a discount opportunity of up to 25 percent available for drivers who go on emergency deployment.
• Federal employee discount: Federal employees may qualify for a discount of up to 12 percent on their Geico car insurance policy.
• Good student discount: Students who get good grades in school or maintain a minimum GPA may qualify for a discount of up to 15 percent with Geico.

Liberty Mutual unique discounts

• Early shopper discount: If you get a car insurance quote from Liberty Mutual before your current policy expires, you may qualify for a discount.
• Homeowner discount: Liberty Mutual offers a discount to drivers who own a home.
• Online purchase discount: When you purchase your car insurance policy online, Liberty Mutual typically provides an automatic discount at checkout.

Usage-based insurance comparison: Geico vs Liberty Mutual

Geico and Liberty Mutual both offer usage-based insurance programs, also called telematics insurance. When you enroll in a telematics insurance program, your driving habits and mileage are tracked. If you practice safe driving behaviors and/or drive infrequently, you may qualify for a discount or lower rate on your policy.

Geico vs. Liberty Mutual: customer experience comparison

Comparing Geico vs. Liberty Mutual in third-party ratings and other tools, like mobile apps, can also offer insight into car insurance companies. In the J.D. Power 2023 U.S. Auto Claims Satisfaction Study, both Geico and Liberty Mutual rated below average with Geico earning a score of 871 out of 1,000 points compared to Liberty Mutual’s 866.

Like many car insurance companies, Geico and Liberty Mutual also offer mobile apps. Both apps are highly rated and offer a variety of features.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 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 coverage that meets each state’s requirements. Our base profile drivers own a 2022 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-based insurance scores: 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. Four states prohibit or limit the use of credit as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

Incidents: 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.

Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Bankrate Scores 

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.