Compare Liberty Mutual vs. Nationwide: Quotes, Discounts (2023)

Liberty Mutual vs. Nationwide: A Summary

Liberty Mutual and Nationwide rank in the top 10 largest car insurance providers in the country by market share. Both brands are household names that you may come across while comparing car insurance. Yet with all their popularity, each company has its relative pluses and minuses. This report gathers the relevant data to help you make an educated decision.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Liberty Mutual

As one of the top insurance companies in the nation, Liberty Mutual provides customers with many add-ons and savings possibilities, like a mobile app, rental reimbursement, vanishing deductibles, new car replacement coverage, and the RightTrack telematics discount.

Nationwide

Millions of Americans use Nationwide as their go-to for car insurance. The company offers perks like a 24-hour claims center, roadside assistance, and gap insurance. Also, you can score an added discount by bundling your auto and home insurance.

The Best Car Insurance Companies in 2022

Liberty Mutual places eighth on our top 10 list for its outstanding accident forgiveness product. And Nationwide is a leading car insurance company for safety-minded drivers. So if you’ve had zero accidents or citations in the last three years, Nationwide may be worth a look. In addition, both companies allow you to adapt your coverage limits to your individual needs.

Compare Liberty Mutual vs. Nationwide: Which Is Cheaper?

Nationwide is by far the most cost-effective alternative in every single category. The average monthly auto insurance rate for Nationwide is $101, while Liberty Mutual is $247. Even so, Liberty Mutual offers a combination of service and robust insurance coverage that clearly appeals to certain segments of the public. So you might still check it out.

The Cheapest Car Insurance Companies in 2022

Both companies fall outside the top 10 cheapest, but they offer competitive pricing to their target markets. Liberty Mutual caters to you if your primary concern is customer service and quality coverage. On the other hand, Nationwide wants to be your one-stop destination for insurance and retirement savings as well as asset management and other investments.

Compare Liberty Mutual vs. Nationwide Car Insurance by Age

Why do insurance agents ask about age? They’d say there are a few reasons. To begin with, older people have more experience, which makes them better drivers. Also, they snag lower rates because of their better credit and the bundling discounts from owning a home. All three variables contribute to policies that cost a fraction of what those under 25 pay.

Liberty Mutual’s and Nationwide’s rates plot a similar pattern. Teens undertake the highest insurance rates. And then prices gradually decrease until people reach their golden years. Liberty Mutual gives its best rates to those in their 60s and Nationwide to those in their 50s. Liberty Mutual’s lowest monthly premium is $163, whereas Nationwide’s is $75.

Compare Liberty Mutual vs. Nationwide Car Insurance by Gender

Your gender influences the cost of your auto insurance. Usually, the price difference is minor. However, it can be considerable at some insurers. Young men are statistically the riskiest drivers on the road. So they often pay higher rates because insurance companies offset this risk by charging higher premiums.

Men who choose Liberty Mutual pony up seven percent more than women, amounting to $17 more per month, or $204 yearly. Likewise, at Nationwide, men also hand over seven percent more than their female counterparts, translating to $84 per year. In addition, the two insurers exceed the national average for both genders.

Which is cheapest for men?

Men looking to save on insurance might want to check with Nationwide. Nationwide’s $105 price tag is $151 cheaper than Liberty Mutual, resulting in $1,812 more in their bank accounts every year. That said, even Nationwide tops the national average by $24 per month. So men may want to check with the competition before locking in their choices.

Which is cheapest for women?

Women who want to save money might give Nationwide a shot. Its monthly premium is $98, making it $141 per month cheaper than Liberty Mutual. The annual savings total $1,692, which is a hefty amount you’d rather keep than pay to an insurance company. However, Nationwide still bills $20 per month above the national average.

Compare Liberty Mutual vs. Nationwide Car Insurance by Mileage

Your auto insurance rates will typically climb in direct relationship to the number of annual miles you drive. The rates go up because insurers believe that extended time in the driver’s seat increases the probability of a collision. However, the price difference between various mileage levels can be significant at some car insurance companies but not at others.

At Liberty Mutual, how much you drive is a significant factor in how much you spend on car insurance. For instance, high-mileage drivers pay 17 percent more than those who clock the least annual miles, a $468 per year difference. Shockingly, Nationwide bucks against the industry and charges those with the least yearly miles the most, but it’s only a $4 difference.

Which is cheapest for drivers with high mileage?

If your job is far from home or you love nothing more than an open road and your favorite playlist, then Nationwide could be an intelligent pick. At $98 per month, it slides under Liberty Mutual by $174, adding up to $2,088 yearly. Even so, Nationwide rolls right by the $69 national average and bills you an added $29 per month, so getting multiple quotes is wise.

Which is cheapest for drivers with low mileage?

Are you a remote worker, an occasional driver, or a person who spends time on public transportation? If so, Nationwide is the economical choice. At the 5,000-mile level, Nationwide’s $102 per month saves you $1,572 per year. At the higher mileage level, picking Nationwide results in a $1,728 price break.

Compare Liberty Mutual vs. Nationwide Car Insurance by Credit Score

Insurance research has shown a correlation between superb credit and safe driving. In almost every state, insurers analyze credit to establish prices. Only in California, Hawaii, and Massachusetts is its usage prohibited. That said, even with less-than-ideal credit, you can still lock in a respectable rate. You can find prices that meet almost any budget at Insurify.

Liberty Mutual and Nationwide are on a similar track, and the national average follows suit. Premiums rise as credit score falls. At Liberty Mutual, drivers with poor credit cough up 55 percent more than drivers with excellent credit. At Nationwide, it’s 54 percent more. And the national average has them paying 96 percent more, but its prices are lower than both insurers.

Which is cheapest for good credit?

Drivers with stellar credit might want to choose Nationwide. With excellent credit, you save $120 monthly compared to Liberty Mutual, equating to $1,440 per year. If you have good credit, opting for Nationwide results in a $122 monthly price break. However, these two insurers hover far above the national average for both credit levels.

Which is cheapest for bad credit?

Are you trying to build your credit? Again, Nationwide is likely the safer bet. With average credit, Nationwide’s $102 price tag transfers $157 per month back into your hands versus Liberty Mutual. Interestingly, those with poor credit snatch the best relative savings. At $125 per month, Nationwide restores $186 monthly back into your budget, amounting to $2,232 a year.

Compare Liberty Mutual vs. Nationwide Car Insurance by Driving Record

Insurers evaluate risk by checking your record from the previous three to five years. So keeping a spotless record may be the simplest way to secure a fantastic deal. But what if your driving record has missteps? In that case, a tool that uncovers the best rates from multiple companies becomes even more helpful. And that’s precisely what you’ll find at Insurify.

With a recent speeding citation or at-fault collision, drivers pay significantly more than those with a clean driving record. For example, speeding violations raise rates by $264 annually on average. At-fault crashes skyrocket the premiums by $384. But DUIs have the most staggering increase of $552 per year. Those figures are more than sufficient reason to drive responsibly.

Which is cheapest for good drivers?

Nationwide trumps Liberty Mutual for safe drivers. Policyholders save $1,656 annually by picking Nationwide’s $102 per month price tag instead of Liberty Mutual’s $240 bill. However, both companies overtake the national average of $67 per month. So receiving quotes from several insurance providers beyond these two is a solid plan.

Which is cheapest after a speeding ticket?

Add speed traps, photo radar enforcement, and the inevitable late morning into the equation, and it’s no surprise that some people end up with a ticket. You should shoot over to Nationwide if you have a moving violation in your recent past. The insurer’s fee is $132 per month, $1,764 less than Liberty Mutual annually. Even so, Nationwide flies past the national average by $44 monthly.

Which is cheapest after an accident?

Even with advanced safety features like automatic emergency braking, blind-spot detection, and collision warning, accidents will still happen. That’s why accident forgiveness is so valuable. Although Liberty Mutual offers it, its $289 monthly fee makes it $135 costlier than Nationwide. Then again, Nationwide jumps past the national average by a wide margin.

Which is cheapest after a DUI?

DUI auto insurance rates are usually so high that some folks prefer to take Uber or Lyft rather than drive. But, before you settle for the rideshare life, look into Nationwide. At $182 per month, Nationwide puts $288 monthly back in your pocket versus Liberty Mutual, tallying up to a breathtaking $3,456 per year.

Liberty Mutual vs. Nationwide Car Insurance: What discounts does each offer?

Liberty Mutual Discounts

• Claims-free

• Early shopper

• Good student

• Homeowner

• Military

• Multi-car

• Multi-policy (bundling your car insurance coverage with other insurance products like homeowners insurance, renters insurance, pet insurance, or life insurance)

• Online purchase

• Preferred payment

• Paperless policy

• RightTrack

• Student away at school

• Violation-free

Nationwide Discounts

• Accident-free

• Anti-theft device

• Automatic payments

• Defensive driving

• Good student discount

• Multi-policy

• Safe driver

• SmartMiles

• SmartRide

Our Methodology and How We Compared Liberty Mutual and Nationwide

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.