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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 14% of the market.

Liberty Mutual is the fifth 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. According to average rate data from Quadrant Information Services, 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.

To provide you with a thorough overview of each company, Bankrate’s editorial team took these factors into account, as well as each carrier’s policy features, discounts and accessibility, and issued each company a Bankrate Score with a maximum score of 5. The higher a carrier scored in each of these categories, the higher its overall Bankrate Score.

Car insurance company Bankrate Score AM Best J.D. Power Average annual premium for minimum coverage Average annual premium for full coverage
Geico 4.7 A++ 881/1,000 $365 $1,297
Liberty Mutual 3.9 A 876/1,000 N/A N/A

Rates by credit score

Your own rates for auto insurance may be determined in part by your credit scores. The better your credit ranking, the lower your premium typically. 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, Michigan and Massachusetts. Washington is still determining it’s position on the use of credit scores and new legislation is expected soon.

Car insurance company Poor Average Good Excellent
National average $3,002 $1,907 $1,771 $1,556
Geico $1,791 $1,379 $1,297 $1,207

Rates by marital status and adding a young driver

Your car insurance rates can be impacted by certain life events. For example, married couples typically have cheaper car insurance rates compared to single people. On the other hand, rates can go up significantly when adding a young driver to a parent’s policy. Because young drivers lack driving experience, insurance carriers consider these drivers to be more risky than older and more experienced drivers. Liberty Mutual’s average rates for adding a young driver to a policy are not available. However, Geico’s rates for single, married and young drivers on their parents’ policy are all cheaper than the national average.

Car insurance company Single Married Married with a 16-year-old driver*
National Average $1,771 $1,668 $3,852
Geico $1,297 $1,392 $2,973

Rates by driving record

Maintaining a clean driving record may be one of the best ways to save on car insurance. However, it may still be possible to find affordable car insurance, even if you have a speeding ticket or at-fault accident.

For example, Geico’s average rates for full coverage car insurance are cheaper than the national average for both drivers who have speeding tickets on their records and drivers who have at-fault accidents on their records. For drivers with DUI convictions, Geico’s average annual rates for full coverage is also cheaper than the national average. The average rates from Liberty Mutual are not available. Requesting a quote from numerous insurers may be the best way to learn what your premium might be.

Car insurance company Clean driving record Speeding ticket Accident DUI conviction
National average $1,771 $2,138 $2,521 $3,421
Geico $1,297 $1,586 $1,900 $3,196

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 (4.7 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 (4.7 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

    Methodology

    Bankrate utilizes Quadrant Information Services to analyze 2022 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 coverage that meets each state’s requirements. Our base profile drivers own a 2020 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 the use of credit-based insurance scores as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts, and Michigan. Washington’s ban on factoring credit in premiums is currently on hold in the courts.

    Status: Rates were evaluated based on the following marital/family status: single (base), married, 40 year married man and woman with a 16-year-old teen driver. Marital status is not a rating factor in HI and MI.

    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 and lapse in coverage.

    Bankrate Scores

    Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

    To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.

    While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

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