Personal finance for college students If you're looking for an affordable auto insurance policy from an established company, Liberty Mutual and GEICO are great options. The best insurance policy for you will depend on many factors, such as where you live, the type of driver you are, and what you value most in an insurance provider. GEICO scores higher in terms of affordability, customer complaints and satisfaction, and financial stability. However, Liberty Mutual offers a few more potential discounts than GEICO.
Originally specializing in insurance for government workers, Geico has expanded its customer base to offer affordable insurance rates in all 50 states. Liberty Mutual and Geico are available across the country, but neither may be exactly the right fit for you. Liberty Mutual is owned by Liberty Mutual customers, as it is a mutual company in which the insured are partially owned. While both companies are major insurance providers and cover cars and homes, Liberty Mutual is independent of Geico.
In the table below, you can see some of the main types of coverage and supplemental insurance products that are available on both Geico and Liberty Mutual. Geico and Liberty Mutual also offer other types of coverage, such as home insurance and renters insurance. The two companies are close, but Geico's main advantage is having a stronger reputation than Liberty Mutual. Geico also has a chat feature on its website, along with an application and a customer portal, while Liberty Mutual only has a portal and an application.
Both Geico and Liberty Mutual have excellent scores from BBB itself, but their customer ratings are low. However, Liberty Mutual stated that it always strives to respond to customer complaints and is willing to work with customers to resolve any issues. Geico also offers a variety of discounts that can be applied to your car insurance rates, including discounts for having anti-theft devices or anti-lock brakes on your vehicle. Geico works with other insurance companies to underwrite every type of insurance they offer, and Liberty Mutual is one of those companies.
As providers with more than 75 years of experience in the insurance industry, both Liberty Mutual and Geico have a strong reputation and extensive coverage options. Liberty Mutual is owned by Liberty Mutual policyholders, since it is an insurance mutual insurance company and its shares are not available to investors in the public market. The Liberty Mutual and Geico ratings from the Better Business Bureau (BBB) show that both companies are well-structured and, in general, are liked by customers.