Comparing Allstate vs. Liberty Mutual is challenging because both of them are among the top insurers in the US insurance industry. Allstate is the biggest US publicly held personal insurer. Liberty Mutual ranks 4th in US property and casualty insurance companies according to their number of premiums written in 2008.
So, should you purchase car insurance from Liberty Mutual or Allstate?
Read on to complete this Allstate Liberty Mutual auto insurance comparison and then be sure to enter your zip code in above to start comparing car insurance quotes!
Allstate: 50 Years With Sears
In 1930, the president of Sear, Roebuck & Company General Robert Wood was advised by a friend that he should open an automobile insurance company. By 1931, Allstate Insurance became established as a division of Sears. It remained part of the company for over fifty years.
Allstate’s Independence
Sears let Allstate became an independent company in 1993. Allstate acquired its own shares that could be openly traded on the stock exchange. In 1995, Allstate became a totally separate company from Sears when Sears sold off all of its Allstate shares to the Sears stockholders.
By 2008, Allstate earned 29.4 billion in revenue. This revenue was generated from:
- Property liability – $26.8 billion
- Allstate financial services – $2.58 billion
- Corporate and other services – $32 million
Allstate’s “Are you in good hands?” slogan came out in 2004 and is still being promoted by the company spokesperson Dennis Haysbert.
What Does Allstate Offer?
Allstate provides 13 insurance product lines. This includes:
- Automobile
- Home
- Condominium
- Renters
- Landlord property
- Commercial
- Life
The company also provides retirement planning, annuities and personal banking services.
The Allstate Corporation is made up of 15 companies with over 70,000 employees and 14,000 agents in the US and Canada. Allstate’s headquarters are in Northbrook, Illinois.
Allstate Customer Service
J. D. Power & Associates evaluated Allstate in their 2009 auto and homeowners insurance customer satisfaction studies. The ratings used a 1 to 5 scale with 1 as below most companies and 5 meaning among the best companies. The auto rating is the first number followed by the homeowners rating.
- Customer overall satisfaction – 3, 3
- Pricing – 2, 3
- Insurer contact – 3, 3
- Policies offered – 3, 3
- Payment and billing – 3, 3
How Did Liberty Mutual Begin 98 Years Ago?
In 1911, the state of Massachusetts passed a law mandating companies provide protection for their employees through worker’s compensation insurance. The Massachusetts Employee Insurance Association (MEIA) was formed in 1912.
MEIA established its first insurance office in 1914 in Springfield, Massachusetts and sold its 1st auto insurance policy. By 1917, the name MEIA was changed to Liberty Mutual Insurance Company.
How Big Is Liberty Mutual?
By 1972, Liberty Mutual had 2 billion premiums written. Currently it has more than 400 offices within the US. Liberty Mutual employs approximately 45,000 professionals that work throughout 14 countries.
As of December, 2008, Liberty Mutual had:
- Consolidated assets of $104.3 billion
- Annual consolidated revenue of $28.9 billion
- Consolidated liabilities of $94.2 billion
What Does Liberty Mutual Provide?
Liberty Mutual provides insurance for individuals and mid to large sized businesses. Several of its insurance products include:
- Automobile
- Homeowners
- High value possessions
- Personal liability
- Workers compensation
- Commercial auto
- Commercial multiple peril
- Global specialty
- Group disability
Liberty Mutual Customer Satisfaction
J. D. Power & Associates also rated Liberty Mutual. Liberty Mutual received an average rating (3) in all categories in automobile and homeowners insurance customer satisfaction.
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