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Farmers vs Liberty Mutual

Farmers Liberty Mutual Car Insurance ComparisonIs Farmers car insurance or Liberty Mutual car insurance the best? Read through this Farmers Liberty Mutual car insurance comparison and then decide for yourself! Also, be sure to enter your zip code in to start with your free car insurance comparison online!

Liberty Mutual Group History

In 1912 Liberty Mutual was founded in Massachusetts under the name called Employee’s Insurance Association. Massachusetts state law required employers to insure employees with some kind of workers compensation insurance.

In 1914 the first office opened, that same year the first auto policy was written. In 1917 the name changed to the Liberty Mutual Insurance Company. Liberty Mutual offered full coverage auto policies through partnerships.

In 1964, through Liberty Life Assurance Branch, Liberty Mutual began offering life insurance. Liberty Mutual changed into its present mutual structure in 2002.

Farmers Insurance Group History

In 1910 Farmers Life Insurance Company started out as a company named New World Life. In 1953 it was acquired by Farmers and it provides insurance products such as annuities, whole life insurance, traditional term life insurance, and flexible universal life insurance.

During the 1920’s, in order to have less expensive policies, Farmers insurance companies across the United States of America established their own mutual insurance cooperatives and their own firms. The famers Insurance Company announced that it will purchase the AIG Auto Insurance Company in April 2009.

Farmers Insurance Company Ratings

A.M. Best Company rates Farmers Insurance: A (Excellent), Moody’s Investor Service: A2(Good), Standard and Poor’s: AA-(Very Strong).

Consumer reports rated Farmers Insurance Homeowners “Worse for both “Problems with Delayed Payments and Claims, The 2006 American Customer Satisfaction Index tested by the University of Michigan saw that customer satisfaction with Farmers Insurance Group was at the same level as the overall Casualty and Property Industry.

As a result the Farmers satisfaction level did improve from 2005 to 2006 among the companies tested and surveyed. Consumer reports considered Farmers Insurance Group one of the “lowest performers” out of twenty-seven insurance companies when it comes to paying off (auto and life) claims in thirty days or less.

In 2007, JD Powers and Associates Collision Repair Satisfaction Study surveyed Farmers Insurance Group and they received the lowest possible ratings in all four categories studied: Claim Process and Procedures, Claim Representative, Claim Settlement, and Overall Experience. Ironically the Farmers Insurance Company won the JD Power award for Call Center Customer Service in 2005, 2006, and 2007.

Liberty Mutual Group Ratings

Liberty Mutual Group total assets are about seventy-eight billion dollars and rising for over the past five years or so. The amount of premiums Liberty Mutual Group collects has also been rising for over the same period of time as well as its operations.

In 2001 Liberty Mutual company income did take a huge loss. Liberty Mutual Group international business is increasing and contributes about twenty-percent of overall operations.

Liberty Mutual Group receives around the best ratings from AM Best’s Insurance Reports and other analysts that study and rate insurance companies, Liberty Mutual group has the best 2005 rating which is an “A” and its outlook “Stable”.

However, interestingly enough, another rating service or company, Weiss Ratings Guide rates one of Liberty Mutual Group subsidiaries, Liberty Mutual Life Assurance Company of Boston as just a C+, which is only a fair rating.

Liberty Mutual or Farmers?

The only way to know if Liberty Mutual, Farmers, or another company altogether is the best choice for you is to make sure that you compare quotes from many different insurers. Enter your zip to start with a free car insurance comparison now!

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