Liberty Mutual Vs. Allstate
Which Is the Best Insurance Option for You?
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Last Updated: June 29, 2023
Choosing the right insurance agency can be overwhelming. Liberty Mutual and Allstate are two prominent names among the many options available. Both companies offer a wide range of coverage options, so deciding between the two can be a challenge.
This blog compares the strengths, weaknesses, and unique offerings of these two companies. Whether you need auto, home, renters, or life insurance, continue reading to discover the similarities and differences between the two providers.
For more information on these agencies, refer to our Liberty Mutual Insurance Review 2023 and Allstate Insurance Review 2023.
Liberty Mutual and Allstate: Highlights
Liberty Mutual is one of the largest insurance companies in the United States, with a long history dating back to 1912. The company offers various types of insurance coverage, including auto, home, renters, life, and business insurance. They also provide specialty insurance options such as motorcycle, boat, and umbrella insurance.
Pros and Cons of Liberty Mutual
- Offers a comprehensive selection of insurance options
- Has a solid financial standing with high ratings from major credit rating agencies
- Provides various discounts and benefits to policyholders
- Offers user-friend website and mobile app for customers to manage their policies conveniently
- Mixed reviews regarding customer service experiences
- Premiums can be high for some customers
- Local agents associated with the company are limited
Allstate is one of the U.S.’s top four insurance companies, bringing in an impressive $27.2 billion in premiums for 2021 alone! Its vast range of coverage options and mostly stellar customer ratings make it a great choice when looking for reliable insurance protection. It’s also worth mentioning that it has a 10.4% market share in the car insurance industry.
Pros and Cons of Allstate
- Variety of endorsements for most policies
- Exclusive digital tools to quickly understand auto, home, and life insurance policies and make a comprehensive plan
- Teen driving discounts, Drivewise savings, and the Safe Driving Bonus
- Claim satisfaction guarantee in certain states
- A nationwide network of agents and convenient online options
- Attractive discounts for homeowners' insurance
- Higher than-average rates
- Fewer agents than State Farm
- Only offers two renters insurance discounts
- It doesn't sell individual health or disability insurance
- Significantly higher rates for teen drivers or those with poor driving histories
Background & Ratings
Liberty Mutual and Allstate are well-respected and innovative insurance providers that have earned the trust of millions of customers over the years.
Let’s look at the background and ratings of both insurance companies.
|Background & Ratings||Liberty Mutual||Allstate|
|Availability||50 states||50 states|
|AM Best Financial Rating||A||A+|
|Better Business Bureau (BBB Rating)||A+||A+|
|J.D. Power Claims Satisfaction Rating (2023)||870||868|
|Claims Processing||Online, phone||Online, phone, mobile app|
Liberty Mutual and Allstate are both reputed companies that provide a large range of insurance services to their customers.
The major insurance products provided by each of the companies are:
|Insurance Products||Liberty Mutual||Allstate|
|Travel Trailer Insurance||Yes||Yes|
|Mobile Home Insurance||Yes||Yes|
|Offroad Vehicles and ATVs||Yes||Yes|
Car Insurance Overview
Here’s an overview of car insurance offered by Liberty Mutual and Allstate:
- Coverage Options: Both companies offer the most standard car insurance and add-on coverage types. Liberty Mutual has a few extra options like Liberty Mutual Deductible Fund, lifetime repair guarantee, better car replacement coverage, original parts replacement, and teachers’ auto insurance. On the other hand, Allstate provides a few ranges that Liberty Mutual does not offer, like accident forgiveness, travel expense coverage, and proper system insurance.
- Discounts: Liberty Mutual and Allstate offer discounts that are like one another. However, Liberty Mutual doesn’t provide discounts for new vehicles, driver’s education, responsible payment, and airbags, while Allstate does. Similarly, Allstate does not offer discounts for homeowners, military, advanced safety features, alternative energy, multiple cars, and online signups, but Liberty Mutual provides all these discounts.
- Customer Service: Allstate can be slightly better regarding customer satisfaction. According to J.D. Power Auto Claims Satisfaction Study 2022, Allstate ranks higher in customer satisfaction (with a score of 889) than Liberty Mutual (has a score of 870).
Roadside assistance is a service that helps drivers who experience unexpected car issues while driving. Here’s how the roadside assistance benefits provided by Liberty Mutual and Allstate compare:
|Roadside Benefits||Liberty Mutual||Allstate|
|Winching services||No||Yes (depends on severity)|
|Battery recharge for EVs||No||Yes|
Liberty Mutual and Allstate have their usage-based insurance (UBI) programs, Right Track and Drivewise, which track driving behavior and offer personalized auto insurance rates.
|Features||Uses a mobile app to observe your driving habits and reward you for the safe choices you are making on the road||Uses a mobile app for safe driving and sending personalized driving insights.|
|Other Features||Tracks your braking, acceleration and nighttime driving||Crash detection, personalized feedback and review on driving behavior, earn reward points, see how you use your phone behind wheels|
|Availability||41 states||49 states|
|Saving/Discount||5% to 30%||Varies by state|
Home Insurance Overview
- Coverage Options: Liberty Mutual Insurance and Allstate Insurance have similarities. However, some differences between them are worth noting. With Liberty Mutual, you can choose from various coverage options, including protection for your dwelling, personal property, liability insurance, and additional living expenses. You can add endorsements like water backup, identity theft, and inflation protection. Allstate Insurance also offers similar coverage options, but they stand out with their unique features like Claim RateGuard, which protects you from premium increases after filing a claim, and the Claim Satisfaction Guarantee, ensuring customer satisfaction with the claims process. Ultimately, both companies offer competitive home insurance coverage. Still, it’s essential to consider your specific needs and preferences before choosing one.
- Discounts: Both Liberty Mutual and Allstate have got you covered! Both insurers offer exciting discounts to help you save on your home insurance policy. Liberty Mutual offers discounts for bundling home and auto insurance, insuring new or renovated homes, installing protective devices, maintaining a claims-free history, and more. They also offer special deals for customers associating with certain professional groups or bringing in new customers. On the other hand, Allstate’s discounts include home and auto insurance bundling, protective devices, claim-free history, being a new customer, paying in total upfront, and automatic payments. They also offer savings for seniors aged 55 and older.
- Pricing: Liberty Mutual stands out for its personalized approach, analyzing your home’s features, discounts, and coverage options to create a unique premium tailored to your needs. Meanwhile, Allstate offers a variety of discounts to help reduce the overall cost of their policies. Finding the most cost-effective option for your home insurance coverage is worth getting quotes from both companies and comparing them based on your specific requirements. Trust us; ensuring you get the best deal possible is worth the effort.
- Customer Service: Liberty Mutual Insurance and Allstate Insurance excel in customer service for home insurance policies. Liberty Mutual offers phone, online chat, and a mobile app for quick and efficient communication. They provide 24/7 claims reporting system and employ a skilled team of agents to manage claims. Allstate also offers customer service via phone, online, and mobile app support, with a user-friendly website packed with resources for policyholders. They even guarantee claims satisfaction. Both companies prioritize speedy and effectual assistance, ensuring their policyholders’ needs are met.
Car Insurance Discounts
Here are the car insurance discounts that Liberty Mutual and Allstate offer:
|Pay In Full||Yes||Yes|
|Advanced Safety Features||No||Yes|
|Sign Up Online||No||Yes|
Home Insurance Discounts
Here are the home insurance discounts that Liberty Mutual and Allstate offer:
|Home Insurance Discounts||Liberty Mutual||Allstate|
|Security System||Information not available||Yes|
|New Home Discount||Yes||Yes|
|Newer/more durable roof||Yes||No|
|Home Safety Features Discount||No||Yes|
|Paid in Full||Information not available||Yes|
Information on Claims
Liberty Mutual and Allstate are committed to providing responsive and reliable claims processing for their policyholders, making them solid options for those seeking high-quality insurance services.
With Liberty Mutual, policyholders can initiate the claims process quickly and easily through their straightforward online claims reporting system. Their network of experienced claims adjusters works tirelessly to assess and settle claims promptly, ensuring a smooth and hassle-free experience for their customers.
Similarly, Allstate Insurance boasts a streamlined claims process that offers multiple channels for reporting claims, including online, over the phone, or through their mobile app. Their dedicated team of claims professionals focuses on handling claims efficiently and keeping policyholders informed throughout the process. Plus, Allstate offers features like Claim RateGuard that prevents premium increases after filing a claim and a Claim Satisfaction Guarantee that ensures customers are satisfied with their claims service.
|Customer reviews on official website||N/A||N/A|
|Mobile App iPhone App Store Rating||4.8||4.8|
|Mobile App Google Play Rating||4.6||3.9|
Liberty Mutual Vs Allstate: Which Company is Best for You?
When it comes to insurance, Liberty Mutual and Allstate are top-notch companies with a variety of options and competitive prices. They boast efficient claims processing and happy customers, but choosing between them ultimately depends on your needs. Consider the coverage you require, which discounts will benefit you most, and any unique features vital to you. To make an informed decision, get personalized quotes from both companies and compare rates. Remember to review this guide and the FAQs to answer any remaining questions. With a bit of research, you can choose the insurance agency that’s perfect for you.
Frequently Asked Questions
Who is Liberty Mutual owned by?
As a mutual insurance company, Liberty Mutual’s policyholders are the actual shareholders, and its shares are unavailable to outside investors. This unique ownership structure ensures that the company prioritizes the needs and interests of its policyholders above all else.
Is Liberty Mutual a Fortune 500 company?
Yes, Liberty Mutual is a Fortune 500 company. According to the 2021 list, Liberty Mutual holds the 68th spot based on its revenue from the previous fiscal year. Remember that rankings can fluctuate yearly, so it’s best to refer to the latest Fortune 500 list for up-to-date information.
Who is Liberty Mutual's sister company?
Liberty Mutual Insurance is the parent company of several subsidiary companies but does not have an official “sister company” designation. However, within the Liberty Mutual Group, some notable subsidiaries include:
- Safeco Insurance
- Ohio Casualty Insurance
- Helmsman Management Services
- Liberty Mutual and Allstate: Highlights
- Pros and Cons of Liberty Mutual
- Allstate Insurance
- Pros and Cons of Allstate
- Background & Ratings
- Insurance Options
- Car Insurance Overview
- Telematics Comparison
- Home Insurance Overview
- Car Insurance Discounts
- Home Insurance Discounts
- Information on Claims
- Customer Satisfaction
- Liberty Mutual Vs Allstate: Which Company is Best for You?
- Frequently Asked Questions
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