Allstate vs Liberty Mutual Car Insurance Rates
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UPDATED: Mar 18, 2021
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When comparing Allstate vs. Liberty Mutual’s auto insurance quotes, it’s easy to see many similarities between the companies. Both auto insurance companies offer competitive prices and have strong financial ratings, and both have memorable advertising campaigns with recognizable spokespersons.
But while the two companies are similar in many ways, there are fundamental differences that distinguish these insurance giants from one another.
Before you purchase auto insurance policies from either of these companies, it’s important to research what each carrier has to offer. Insurance ratings, customer reviews, and price quotes can help you choose the best insurance company to meet your needs.
We’ve collected this information for you, so you can easily compare Allstate vs. Liberty Mutual and make an informed decision regarding your auto insurance and home insurance.
We’ve looked at each company’s insurance products, monitoring, reputation, contract and price, and technology integration, summarizing the results in four categories: coverage and benefits, customer experience, financial strength, and pricing and discounts.
Allstate vs. Liberty Mutual Car Insurance
Both companies provide the basics such as liability, collision, and medical payments coverage, but when it comes to extras, Allstate has a little more to offer.
After creating an insurance policy with the help of an Allstate or Liberty Mutual representative, most policyholders have limited further contact with their insurance providers.
Aside from occasional calls or visits to update minor policy details such as adding a teen driver or changing an address or phone number, communication between a policyholder and their insurer primarily occurs during the claims process.
The J.D. Power Claims Satisfaction Report gives consumers the opportunity to compare insurance providers using ratings that are based on real customer reviews.
This report ranks top providers such as Liberty Mutual, Allstate, and other competitors.
J.D. Power uses three key performance indicator categories to analyze the performance of each insurer in the study:
- Ease of Service Interaction
In the J.D. Power 2017 Auto Claims Satisfaction Study, Allstate received an Overall Satisfaction rating of 3 out of 5, which put them just ahead of Nationwide and 21st Century and just behind State Farm.
Liberty Mutual, on the other hand, received a slightly lower Overall Satisfaction rating of 2 out of 5, coming in just ahead of Mercury and COUNTRY Financial, and right behind Automobile Club Group.
|Overall Satisfaction||2/5 Stars||3/5 Stars|
|Satisfaction with Claims Reporting Process||3/5 Stars||3/5 Stars|
|Satisfaction with Representative||2/5 Stars||3/5 Stars|
|Satisfaction with Repair Process||3/5 Stars||4/5 Stars|
|Satisfaction with Rental Car Process||3/5 Stars||3/5 Stars|
In addition to the claims process, there are other factors to be considered when calculating a company’s overall customer satisfaction rating.
These include how the company communicates essential information to policyholders, how it responds to customer inquiries and complaints, how well the website operates, and the level of customer service provided in call centers and local offices.
The J.D. Power auto insurance study analyzes these factors to rate insurance companies like Liberty Mutual and Allstate.
Allstate received an overall satisfaction score of 2 out of 5, while Liberty Mutual was rated a little higher with an overall satisfaction score of 3 out of 5.
In three out of the five individual categories that make up the overall satisfaction score, Allstate received a rating of 2 out of 5.
A slightly better rating of 3 out of 5 was given to Allstate in the areas of local agent and call center representative.
The California Complaint Ratio Study shows how many complaints insurance companies have received in a year’s time.
The study compares justified complaints against claim exposure (or vehicles covered) for each major insurance provider.
Since California is the most populated state in the United States, this study is an excellent example of the volume of complaints received by Allstate and Liberty Mutual.
In the 2016 study, Allstate is ranked 11th out of 50 insurers, while Liberty Mutual sits much lower in 45th place.
Kemper Independence and Mid Century came out on top with the lowest complaint ratios, while the highest ones belong to Western General and Access Insurance.
Liberty Mutual received a total of 55 justified complaints in California. Based on an approximate claim exposure of 379,678 vehicles insured, the company’s complaint ratio is 14.5 per 100,000 vehicle policies.
When comparing Allstate vs. Liberty Mutual’s complaint ratios, Allstate came out on top with a much lower complaint ratio of 2.5. This is based on a total of 50 justified complaints and an approximate claims exposure of 1,978,516.
These results indicate that Liberty Mutual’s proportion of complaints to vehicles insured is much higher than Allstate’s.
The National Association of Insurance Commissioners analyzes complaints using a similar method based on each company’s market share of complaints vs. the company’s market share of premiums.
The median complaint ratio for this report is 1.0, meaning that any number higher than 1.0 received an above-average quantity of complaints.
In 2016, Allstate’s complaint ratio was 1.03, almost equal to the median, while Liberty Mutual’s was 4.55.
A company’s financial strength is something that’s not often taken into account when considering insurance providers. However, it’s an essential part of a carrier’s makeup.
It’s important to know that if a major disaster strikes, a company will be able to honor policies and payout claims.
You can compare Allstate vs. Liberty Mutual’s financial strength by looking at their individual credit ratings from one of the five major rating agencies:
- A.M. Best
- Standard & Poor’s
- Fitch Ratings
Positive credit ratings show that Liberty Mutual is very strong financially.
Liberty Mutual Financial Ratings
The company has a financial strength rating of “a” from A.M. Best and “A2” from Moody’s, which indicates the company’s stability.
Allstate’s Financial Ratings
Allstate’s credit ratings also indicate good financial health.
Moody’s gave Allstate a grade of “Aa3,” while A.M. Best has provided a financial rating of “A+.”
These high scores for financial stability should provide peace of mind to potential policyholders.
Pricing and Discounts
Many elements may increase the cost of a driver’s insurance premiums including the driver’s age, gender, driving record, credit score, and geographic location.
Just as any of these factors can raise the cost of insurance policies, there are also several that can reduce rates, including discounts based on driver education, good student discounts, age, and safe driver skills.
Make sure to mention if your car has any safety features such as anti-theft, roadside assistance, anti-lock brakes, and smart technology. Both Liberty Mutual Insurance and Allstate offer safety discounts.
Liberty Mutual offers better car replacement and Allstate offers accident forgiveness discounts. Both companies offer bundling insurance coverage such as homeowners insurance, life insurance, and mobile home and renter insurance together to lower your monthly premiums.
Also, most insurance companies offer discounts for paperless billing, full payment, and autopay with your credit card, and using the company’s mobile app to complete payments.
Looking at the discounts offered by Allstate vs. Liberty Mutual, you can see that although each company has the same amount of discounts, they are entirely different in type.
Here’s a breakdown of the discounts each company makes available to its policyholders.
|Student Away from Home||YES||NO|
|Completed Driver Training Course||YES||NO|
|Length of Membership||YES||NO|
|Pay in Full||YES||YES|
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Liberty Mutual vs. Allstate: Which is Best For You?
As you can see by this in-depth comparison review of Liberty Mutual vs. Allstate, there are many factors to consider when choosing your car insurance company.
Use the above charts and ratings to make sure you have the right carrier for your needs.