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

Erie vs. Liberty Mutual: A Summary

Erie and Liberty Mutual are two leading companies in the auto insurance industry. Erie is a midsize company with a footprint in 12 states, and Liberty Mutual is among the top 10 insurers by market share in the U.S. For more information beyond the average monthly quotes and Insurify Composite Score below, compare quotes from Erie, Liberty Mutual, and more.

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.

Erie

Erie Insurance offers policies in Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin, and Washington, D.C. In addition, policyholders enjoy add-ons like rental car reimbursement, diminishing deductibles, accident forgiveness, and discounts for bundling with home insurance.

Liberty Mutual

Liberty Mutual Insurance strives to ensure customers only pay for the car insurance coverage they need. Coverage from the insurance company is available in all 50 states and Washington, D.C. Policyholder perks and benefits include a mobile app, roadside assistance with towing, the RightTrack telematics discount, local agents, and robust coverage options.

The Best Car Insurance Companies in 2021

Liberty Mutual was named the best auto insurance provider for accident forgiveness on Insurify’s top 10 insurance companies of 2021 list. Though Erie didn’t make the list, the company delivers superb customer service, helpful add-ons, low prices, and accident forgiveness. Erie policyholders can rest assured rates won’t skyrocket after a single collision.

Compare Erie vs. Liberty Mutual: Which Is Cheaper?

Erie is the more affordable option, with better rates in every driver category analyzed. The average monthly premium from Liberty Mutual is $247, while the monthly premium from Erie is just $49. Auto insurance premiums from Liberty Mutual are four times costlier than rates from Erie.

The Cheapest Car Insurance Companies in 2021

Although Erie is only offered in 12 states, it delivers some of the most affordable insurance products in the nation. Furthermore, Erie’s car insurance policies are cheaper than the national average for all demographics and driving profiles evaluated. On the contrary, Liberty Mutual grants its lowest rates to drivers with great credit and those in their 60s.

Compare Erie vs. Liberty Mutual Car Insurance by Age

Because insurance companies and agents recognize that experienced drivers are typically better drivers, age is a factor in your auto insurance quote pricing. Consequently, drivers under the age of 25 have the highest auto insurance premiums and those with numerous years behind the wheel pay much cheaper rates.

The data’s trajectory for both insurers is similar, as seen below. Rates fall until drivers reach their 50s, then rise again as they approach retirement age. Drivers in their 50s earned the lowest price from Erie with an average of $36 per month, while drivers in their 60s received the best rate from Liberty Mutual at a much higher $163 per month.

Compare Erie vs. Liberty Mutual Car Insurance by Gender

Another variable that may influence your car insurance is your gender. Generally, car insurance premiums vary only slightly for men and women. However, certain insurers put a lot of emphasis on gender. For instance, younger males are statistically riskier drivers than young females, so companies charge somewhat higher prices to compensate for the increased risk.

Erie bills men and women the same thing, which is on average just $49 per month. At the same time, Liberty Mutual has a price increase for men, amounting to $17 more per month, or $204 more per year than rates for women. Liberty Mutual is over three times the national average for men and women. At the same time, Erie remains below the national average for both groups.

Which is cheapest for men?

Men should look into Erie since it outperforms the national average and Liberty Mutual. WIth a monthly fee of $49, Erie provides policyholders rates that are $32 cheaper per month and $384 cheaper per year compared to the national average. Drivers who choose Erie over Liberty Mutual save an average of $207 per month and a mind-boggling $2,484 per year.

Which is cheapest for women?

For women, Erie is the most cost-effective option. The average premium at Erie for women is only $49 per month and $588 per year, which comes out to $2,280 less per year than Liberty Mutual’s yearly cost. Erie’s average premium is $29 below the national average every month, signifying $348 in savings by the end of the year.

Compare Erie vs. Liberty Mutual Car Insurance by Mileage

The more miles you put on the odometer, the more you should plan to spend on auto insurance. When insurance providers evaluate risk, they assume that the more time you stay on the road, the more likely you are to be involved in a car collision. However, not all insurance companies assess annual miles in the same way.

Erie is one of the few car insurance companies that don’t seem to care about annual mileage. The company’s algorithm may decide on costs regardless of what a potential policyholder estimates for annual mileage. In contrast, yearly mileage is critical at Liberty Mutual, where individuals who drive the most spend $39 more per month than low mileage drivers.

Which is cheapest for drivers with high mileage?

Erie is the superior choice if you have a long daily commute or just enjoy the open road. Liberty Mutual’s monthly fee of $272 is over five times Erie’s $49 price tag. Choosing coverage from Erie may save you $2,676 each year. In comparison to the $78 national average rate, Erie provides $29 in savings per month, amounting to $348 per year.

Which is cheapest for drivers with low mileage?

Erie’s $49 per month bill is the same no matter how many miles you travel, so it’s still the best choice for a budget-friendly price. In contrast, Liberty Mutual charges $233 for 5,000 yearly miles and $242 at the 10,000-mile level. Choosing Erie over Liberty Mutual saves you between $184 and $193 a month, depending on how much you drive.

Compare Erie vs. Liberty Mutual Car Insurance by Credit Score

Drivers with stellar credit typically qualify for the best auto insurance rates, while those with poor credit have fewer possibilities for low-cost policies. However, even with imperfect credit, you can still find a good deal. Some companies offer lower rates to individuals with poor credit histories.

When it comes to the lowest price, people with better credit get the most affordable rates. This notion is true for Erie, Liberty Mutual, and the national average rates. For example, the average cost difference between rates for drivers with excellent and poor credit is $60 per month based on the national average, $61 from Erie, and $110 from Liberty Mutual.

Which is cheapest for good credit?

Erie offers exceptional rates for those with excellent credit, considering it even dips below the national average rates for the excellent and good credit tiers. On the contrary, Liberty Mutual is over three times the national average with monthly costs of $201 and $214, respectively. Compared to Liberty Mutual, Erie’s prices result in a minimum annual savings of $2,004.

Which is cheapest for bad credit?

Erie is the safest route if you’re trying to rebuild your credit. When you pick Erie over Liberty Mutual, you can save $211 per month if your credit is average and $216 per month if your credit is poor. Notably, Erie trumps the competition in general, with lower pricing than the national average.

Compare Erie vs. Liberty Mutual Car Insurance by Driving Record

Insurers base their premiums on your most recent driving history, usually within the previous three or five years. As a result, keeping an accident-free driving history is one of the simplest ways to get a fantastic rate with an insurance company. Conversely, a driving record that includes speeding tickets, accidents, or DUIs could lead to above-average insurance costs.

It’s no secret that getting an affordable premium with a bad driving record can be difficult. Fortunately, companies like Erie understand the challenge and provide reasonably priced rates even if you have a blemish on your record. For instance, Erie is far cheaper than the national average regardless of driving history, whereas Liberty Mutual is significantly higher.

Which is cheapest for good drivers?

When you pick Erie, safe driving pays off. Erie’s $48 monthly fee is $30 less than the national average and $192 a month, or $2,304 a year, less than coverage from Liberty Mutual. Even if drivers appreciate some of Liberty Mutual’s other features, most people will find the $240 rate hard to swallow.

Which is cheapest after a speeding ticket?

In most cases, drivers who receive a speeding ticket face higher rates for their insurance coverage. Fortunately, Erie policyholders save $49 per month compared to the national average and $224 compared to Liberty Mutual, making Erie the significantly cheaper option.

Which is cheapest after an accident?

Despite Liberty Mutual’s excellent accident forgiveness, Erie still offers drivers a much lower premium. Erie’s average $65 monthly price outdoes the national average by $48 and beats Liberty Mutual by $224 monthly, or $2,688 annually. And, of course, every dollar counts significantly more after an accident, and Erie helps those dollars stretch much further.

Which is cheapest after a DUI?

A DUI raises insurance prices more than any other driving violation. For example, the national average rises from $78 to $155 per month for drivers after they receive a DUI. In comparison, Erie remains under the national average rate, with a monthly cost of $86. Liberty Mutual’s $470 monthly price tag is over four times the national average.

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

Erie Discounts

• College student

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

• Payment perks (pay in full)

• Safety savings (airbags, antilock brakes, anti-theft devices, and other safety features)

• Vehicle storage

• Youthful driver

Liberty Mutual Discounts

• Claims-free

• Early shopper

• Good student

• Homeowner

• Military

• Multi-car

• Multi-policy

• Online purchase

• Preferred payment

• Paperless policy

• RightTrack

• Student away at school

• Violation-free

Our Methodology and How We Compared Erie and Liberty Mutual

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.

Frequently Asked Questions