Liberty Mutual vs Farmers: Which is Better for You?
Read on to see which company is best for you.
Liberty Mutual or Farmers: Which company is best for you?
Liberty Mutual and Farmers are two of America's most popular insurance companies. Both of the insurers provide a variety of insurance options to suit the needs of homeowners and drivers across the country. Read on for a detailed comparison of the two companies.
Liberty Mutual car insurance
Liberty Mutual's auto insurance product is notable for the vast variety of discount opportunities and its array of coverage types that meet or exceed those offered by other major insurers. The company's primary downside is its higher-than-average number of customer complaints.
Farmers car insurance
Farmers customers should expect reasonable rates, a variety of discount opportunities and a wide array of coverages options. Furthermore, Farmers customers can easily combine auto insurance with homeowners, renters or life insurance policies. Read more below.
Liberty Mutual vs. Farmers: car insurance rate comparison
Choosing an auto insurance company on price alone can be challenging. Insurance rates differ based on a driver's vehicle, location, driving history and other factors, so quotes tend to be highly individualized. To streamline the comparison process, we compiled average insurance rates from Farmers and Liberty Mutual. These numbers take into consideration credit history, driving record and age. Have a look at the tables below to which company is cheapest.
The cheaper of the two auto insurance companies is Farmers, at $131 per month, whereas Liberty Mutual's average rate is $144 per month.
Liberty Mutual vs. Farmers: pricing by credit score
If you have a low credit score, Farmers is likely to be cheaper. Farmers' rates tend to be cheaper for drivers across each of the credit tiers, meaning even a driver with exceptional credit could save around $36 per month by opting for Farmers. See below insurance rates by credit tier for the two companies.
RATES BY CREDIT LEVEL: FARMERS VS. LIBERTY MUTUAL
|Credit level||Liberty Mutual avg. annual premium||Farmers avg. annual premium|
|Very Poor (300-579)||$3,228||$2,633|
|Very Good (740-799)||$1,878||$1,459|
Auto insurance data methodology
The auto insurance rates published in this guide are based on the results of The Zebra's State of Insurance car insurance pricing analysis. This analysis of more than 83 million insurance rates spans every U.S. ZIP code, using a sample user profile: a 30-year-old single male driver with a Honda Accord, good credit and full coverage at these levels:
- $50,000 per person/$100,000 per incident for bodily injury liability
- $50,000 per incident for property damage liability
- $500 deductibles for collision and comprehensive coverage
To generate pricing for particular rating factors, we adjusted the driving profile based on common pricing factors used by major car insurance companies. These factors include credit score, coverage level, driving record and others.
In some instances, average rates from Liberty Mutual were derived from internally sourced sales data.
Liberty Mutual vs. Farmers: rates for high-risk drivers
If you have a recent citation on your driving record, Farmers may be a more affordable insurance option than Liberty Mutual. See rates by violation category below for the two companies.
RATES BY CITATION: FARMERS VS. LIBERTY MUTUAL
|Citation||Liberty Mutual avg. annual premium||Farmers avg. annual premium|
|At-fault accident (damage < $1,000)||$2,776||$2,334|
|At-fault accident (damage > $1,000)||$2,112||$1,699|
Liberty Mutual vs. Farmers: rates by age
Car insurance companies depend on a driver's age as a measure of risk and a way to price policies. Insurance is typically costly for young drivers and cheaper for drivers in middle age. For most drivers, Farmers is the cheaper company.
Budget-minded teen drivers could consider either Farmers or Liberty Mutual, though neither is particularly affordable for teens.
RATES BY AGE: FARMERS VS. LIBERTY MUTUAL
|Age tier||Liberty Mutual avg. annual premium||Farmers avg. annual premium|
Aside from the head-to-head rates comparisons above, Liberty Mutual and Farmers each have positive and negative components. Before settling on an auto insurance company, get quotes and compare policy options.
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Ratings comparison: Liberty Mutual vs. Farmers
Customers and leading third-party information sources — including The Zebra — have evaluated the customer service and claims satisfaction standards of Liberty Mutual and Farmers in recent years. To help you see the reality of being a policyholder with one of these companies, we've compiled these ratings to provide an in-depth, head-to-head comparison.
|Ratings comparison||Liberty Mutual||Farmers|
|Financial strength (A.M. Best)||Good||Excellent|
|JD Power (claims satisfaction)||Average||Excellent|
|JD Power (customer satisfaction)||Above average||Below average|
|NAIC rating||Poor||Above average|
|The Zebra's editorial review score||3/5||4/5|
|The Zebra's Customer Satisfaction Survey||4.2/5||4.3/5|
The Zebra's Customer Satisfaction Survey
The Zebra conducted an in-house survey of insurance consumers to discover how they viewed their insurance companies across a number of topics. See below how each of these companies performed.
Liberty Mutual scored near the bottom of The Zebra's survey of 15 carriers, placing 14th overall. However, with a score of 4.2, Liberty wasn't far from its nearest competitors. The company fared well in certain categories, including the below highlights.
- Scored well in Online Satisfaction (4.3)
- Older drivers rated the company higher than did their younger counterparts
Farmers consistently ranked near the lower third of companies included in our survey. However, the company ranked 6th overall for claims satisfaction, indicating that customers are happy overall with the process. Among respondents, Farmers did best among younger drivers.
- Farmers auto insurance placed 10th overall
- Millennial and Gen X respondents rated Farmers higher overall
- Scored highest for claims satisfaction
The Zebra Customer Satisfaction Survey methodology
Findings are based on an online quantitative survey of 4,794 current U.S. auto and home insurance customers, with Census-balanced sampling by age, gender and region. Categories with n=<20 responses are considered insufficient sample size and are not reported. This survey was developed by The Zebra and executed by independent research firm Maru/Blue in 2023.
|Discount comparison||Liberty Mutual||Farmers|
|Anti-lock brake system||✓||✓|
|Student away at school||✓||✓|
|Affinity membership alum||✓||✓|
|Pay in full||✓||✓|
|eSign or ePay||✓|
Telematics options: Liberty Mutual vs. Farmers
Both insurers offer telematics-powered policies, providing drivers the opportunity to save through low monthly mileage or safe driving practices. See more information about each company's mobile app below.
Liberty Mutual RightTrack follows your driving habits to help determine your rates. The company claims users will save up to 30% on their premiums. At the time of writing, the app had scores of 4.5 on the Apple Store and 4.0 on Google Play.
Liberty Mutual offers another telematics option called ByMile. ByMile is designed for low-mileage drivers. Usage-based car insurance tracks the number of miles driven to tailor rates to the distance you drive. As of early 2022, the app has a 4.3 on the Apple Store and a 4.0 on Google Play.
Signal is the telematics option from Farmers. For safe drivers, the company advertises a 5% discount just for signing up, with the possibility of up to 15% savings for qualifying drivers. The company also offers an additional 10% savings for drivers under the age of 25 who enroll.
Furthermore, drivers who enroll in Farmers Signal — and who have a driving score of at least 80% — are also eligible to win up to $100 in rewards every month. Signal is not available in every state it should be noted, and further restrictions may be imposed depending on where you live.
Roadside assistance: Liberty Mutual vs. Farmers
Many insurers offer roadside assistance as an optional add-on, though it is not likely to be built into basic coverage. See below the roadside assistance programs from Farmers and Liberty Mutual.
Liberty Mutual offers 24-hour roadside assistance, with the below features:
- Jump starts
- Fuel delivery
- Lockout services
- Flat-tire changes
To contact Farmers Roadside Service, call 1-800-435-7764. Farmers covers up to $150 per incident (with special limits in North Carolina, Texas and Virginia) for the following services:
- Battery jump start
- Flat-tire change
- Winching services
- Lock-out services
Liberty Mutual vs. Farmers: home insurance
In addition to a large presence in the car insurance industry, both Liberty Mutual and Farmers offer homeowners insurance. To find out more about the unique coverages, customer service standards and rates for each company, see our in-depth homeowners insurance comparison below.
Liberty Mutual homeowners insurance review
Liberty Mutual maintains a variety of home insurance coverage options, including flexible add-ons and endorsements. This makes the carrier a worthwhile option for those with unique coverage needs. Liberty Mutual home insurance earns positive ratings from third-party reviewers, and the company placed eighth overall in The Zebra's Customer Satisfaction Survey for home insurance.
- The Zebra Customer Satisfaction Survey — 4.3/5: Liberty Mutual received a 4.3 out of 5 in The Zebra's survey of customer satisfaction.
- Claims satisfaction (J.D. Power Rating) — Below average: In J.D. Power's most recent property claims satisfaction report, Liberty Mutual came in below the industry average.
- Customer satisfaction (J.D. Power Rating) — Below average: Liberty Mutual fell below the industry average in J.D. Power's customer satisfaction study.
- Financial strength — Good: According to AM Best, Liberty Mutual's financial outlook was rated at an "A".
- NAIC Rating — Good: Fewer complaints were logged by the NAIC in regards to Liberty Mutual's homeowners insurance, falling just below the national complaint index.
Farmers homeowners review
Due to its robust policy options, reasonable rates and high level of trust, Farmers remains a popular option for homeowners insurance. The company earned roughly average reviews from various third-party reviewers and consumers and placed 7th overall for homeowners insurance in The Zebra's Customer Satisfaction Survey.
- The Zebra Customer Satisfaction Survey — 4.3/5: Farmers placed 7th overall in The Zebra's homeowners insurance customer survey.
- Claims satisfaction (J.D. Power) — Average: J.D. Power's property claims satisfaction study for 2021 gave Farmers an average score of 884 out of 1,000.
- Customer satisfaction — (J.D. Power) — Average: Farmers earned an average score in J.D. Power's study of customer satisfaction.
- Financial strength — Excellent: AM Best rates Farmers highly, meaning the company is in good financial shape.
- NAIC Rating — Above Average: Farmers received fewer complaints than did other major homeowners insurance companies.
Liberty Mutual vs. Farmers: home insurance rate comparison
Liberty Mutual's average homeowners insurance rates are $1,414. Farmers' average is slightly more expensive at $1,455 per year.
As with auto insurance rates, homeowners insurance premiums vary depending on a number of factors, so be sure to get quotes from multiple companies to compare your options comprehensively.
The cheaper of the two options is Liberty Mutual, at $117 per month. Homeowners insurance from Farmers isn't too much more expensive, coming in at an average of $121 per month.
Homeowners insurance data methodology
The homeowners insurance rates published in this guide are based on The Zebra's analysis of the cost of home insurance in every U.S. ZIP code. These rates are based on a sample user profile: a 45-year-old married homeowner living in a 2,500-square-foot single-story home built in 2011 with these coverage levels:
- $200,000 for the dwelling
- $20,000 for other structures
- $100,000 for personal property
- $100,000 for personal liability
- $1,000 deductible
To generate pricing for particular rating factors, we adjusted the homeowner profile based on common pricing factors used by major home insurance companies. These factors include location, coverage limits, claims record and others.
Liberty Mutual vs. Farmers: homeowners discount comparison
Farmers and Liberty Mutual both offer home insurance discounts for policyholders that meet certain eligibility requirements. Compare available discounts from each company below.
|Discount comparison||Liberty Mutual||Farmers|
|Recent home buyer||✓|
|Newer/more durable roof||✓||✓|
|Protective devices (smoke/burglar alarms, etc...)||✓||✓|
|Paid in full|
|New home construction||✓||✓|
Other insurance products and bundling options
Liberty Mutual and Farmers offer a variety of insurance products, along with the possibility of bundling policies for additional savings. Compare bundling and multi-line offerings from the two carriers below.
|Other products||Liberty Mutual||Farmers|
|Travel trailer insurance||✓||✓|
|Mobile home insurance||✓||✓|
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.