Compare Nationwide vs. Liberty Mutual Auto InsuranceAugust 21, 2014
Nationwide and Liberty Mutual are both prestigious car insurance companies that rank within the Fortune 100 list of top companies. That success means they have the experience, the credibility and the resources to serve you well when you’re in the unfortunate position of actually having to use your auto insurance. But which of the top car insurance giants is actually best for you, and other than comparing rates head to head, what information should you be seeking out? This guide will help.
Why Compare Nationwide vs. Liberty Mutual?
The quick and easy answer as to why you want to compare Nationwide and Liberty Mutual is that you want to get the best rate. And don’t forget, the rate includes both the car insurance premium and any available discounts. But there are many other factors that go into the auto insurer decision-making process, including perceived level of customer service, the company’s other insurance and financial products, as well as – let’s be honest – which auto insurance company has the most entertaining commercials.
Founded in Columbus, Ohio, Nationwide has done more than build a headquarters in the mid-western city. The company has built a home. Integral to bringing the NHL franchise Blue Jackets to the city, Nationwide is a loyal and enterprising insurance company to all of its policyholders, and not just the ones living in central Ohio. Nationwide was founded in 1925 with only 1,000 policyholders, when the Ohio Farm Bureau Federation incorporated the Farm Bureau Mutual Automobile Insurance Company. Today the company is a top Fortune 100 enterprise with 30,000 employees, and serves as naming sponsor for the Nationwide professional golf tour.
Advantages of Nationwide
It all begins with the Vanishing Deductible incentive. The auto insurance savings initiative works like this: for very year that you maintain your safe driver status, you decrease your deductible by $100. Another program, the On Your Side Review, provides a one-on-one review of available coverage with an agent who will find the best policy for your budget.
Nationwide has also developed strong customer and employee loyalty with its equal opportunity policy protecting workers’ sexual orientation and gender identity – an effort that’s built a bridge to the LGBT community.
With a 95% customer satisfaction rate – including nine out of 10 customers who filed a claim stating that they would recommend the insurer to friends and family – Nationwide easily validates the efforts and financial resources that they put behind these programs.
Nationwide’s Top Discounts
Sure, being an ally to the community and developing unique loyalty programs is great, but what about the car insurance discounts? Here is a sampling of Nationwide’s popular car insurance discounts:
- Multiple Policy Discount – Up to 25% discount
- Good Student Discount – Up to 15% discount
- Affinity Discount – Save up to 10% (for members of business partner organizations)
- Farm Bureau Discount – Save up to 10% (for Farm Bureau members)
- Accident Free Discount – Up to 10% for five years of safe driving
About Liberty Mutual
Most of the car insurance companies featured on our site are either public or private companies. Liberty Mutual is a mutual company, meaning that all policyholders are also shareholders in the company. (See the difference between a mutual insurance company and a stock insurance company.) Dating back to 1912, Liberty Mutual was founded in Boston and has since grown into the 72th largest enterprise in the company, according to the Fortune 500 list. With more than $40 billion in revenues and a stalwart workforce comprising 50,000 employees, Liberty Mutual may not be one of the top three car insurers in the country, but boasts all the benefits and advantages of a large, established auto insurer with a storied history of success.
Advantages of Liberty Mutual
Remember, all policyholders are also shareholders, which means they have a voice in the company’s day-to-day operations. This unique partnership has helped bring several unique car insurance benefits to life for Liberty Mutual customers:
- Roadside Assistance: Have the peace of mind that Liberty Mutual will be there to cover your vehicle breakdowns, including jump-starts and towing.
- 12-Month Rate Guarantee: Some companies may fudge with rates more often than others, but Liberty Mutual promises not to raise rates within the year.
- Accident Forgiveness: Shouldn’t safe drivers be rewarded? All drivers who’ve been accident free for five years won’t have their rates raised.
- Lifetime Repair Guarantee: Any repair work completed by approved car repair shops is guaranteed for as long as you own the car.
Liberty Mutual’s Top Discounts
Premium isn’t everything when it comes to finding attractive car insurance rates. Discounts make up the other half, and Liberty Mutual offers many competitive auto insurance incentives, including:
- Hybrid vehicle discount: Get savings for policies on hybrid cars.
- New graduate discount: graduating students are eligible for special new car insurance policy savings.
- Newly retired discount: Celebrate retirement with reduced monthly auto insurance premiums.
- Multi-policy discount: Bundle home, auto, life and other policies to receive a sweet discount.
- Exclusive group savings: Liberty Mutual offers substantial price breaks for members of 14,000-plus groups, workforces, alumni associations and other affinity groups.
Nationwide vs. Liberty Mutual: Which One Works for You?
All we can do is supply you the facts regarding the differences between Nationwide and Liberty Mutual. You likely bring a lot of other opinions to the table based on what your friends and family think, your previous auto insurance experience, and a host of other factors. It’s tough to go wrong selecting either company, but if you’re looking for a bit more objective information, you can check out the company page for Liberty Mutual.
Ready to Compare Car Insurance?
You did all that can be expected of a responsible consumer when sorting through possible new car insurance company. You gathered the facts, compared auto insurance quotes, and probably repeated the process again and again. Now that you can break down everything that Nationwide and Liberty Mutual bring to the table, it’s time to make a decision you can be excited about. Are you ready?