Is AAA or Liberty Mutual car insurance the best?
AAA & Liberty Mutual: History
AAA (American Automobile Association) sells only to members of the AAA auto club and is a stock company divided into regions. LMG on the other hand began its business in 1912 issuing workman’s comp policies.
Since that time it has grown into an international mutual insurance conglomerate and is the 5th largest insurance company in the U.S.
Liberty Mutual enjoys an A.M. Best Company rating of “A” with AAA receiving a “B++”. Liberty Mutual is licensed in all 50 states with the types of coverage offered varying from state to state, AAA‘s coverage offerings vary with each of its individual regions.
While LMG is a global corporation, its 3 main subsidiaries are Liberty Mutual Fire Insurance Company, Employees Insurance Company of Wausau, and Liberty Mutual Life Assurance Company of Boston. The top 3 of AAA are AAA Mid Atlantic Insurance Co., AAA Texas County Mutual Insurance Co., and AAA Texas County Mutual Insurance Co. of N.J.
Liberty Mutual & AAA: Lines of Insurance
Both AAA (American Automobile Association) and Liberty Mutual Group (LMG) offer auto and homeowners insurance with AAA adding inland marine coverage and LMG offering a wide range of additional insurance including personal injury and life for individuals or families and commercial property, specialty risk and workers comp for businesses.
The bulk of business for both AAA and Liberty mutual is insuring private automobiles.
Liberty Mutual & AAA: Financial Strength
AAA’s assets have been steadily climbing to a recent estimate of about $425 million with its total premiums around $234 million. Liberty Mutual has assets estimated at $78 billion. Both companies have shown a steady and continuous growth over the last 5 years.
AAA & Liberty Mutual: Car Insurance Quotes
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