Liberty Mutual Reviews: Insurance Offers, Features, Cost, Pros & Cons
Liberty Mutual is an insurance company that was founded in 1912 by George M. Roberts, who believed that each individual should be “able to own and protect their home, car, business, and family.”
Today, Liberty Mutual serves more than 16 million customers through over 50 different companies worldwide.
Liberty Mutual offers personalized insurance at competitive prices with excellent customer satisfaction, free quotes for potential customers who request them online, and 24/7 access to licensed advisors via phone or email.
Liberty Mutual also has excellent rates on auto insurance, offering discounts to policyholders who own safe vehicles and take advantage of their driver safety course discount.
Table of Contents
- Liberty Mutual Reviews: What is Liberty Mutual Auto Insurance?
- How does Liberty Mutual Work?
- What are the Features of Liberty Mutual Insurance?
- How much does Liberty Mutual Car Insurance Cost?
- Who is Liberty Mutual Best For?
- Liberty Mutual Insurance Pros and Cons
- Liberty Mutual Insurance Compared to other Insurance Company
- Final Verdict: Liberty Mutual Insurance
- Liberty Mutual Insurance FAQs
Liberty Mutual Reviews: What is Liberty Mutual Auto Insurance?
Liberty Mutual Auto Insurance is a part of Liberty Mutual Group, Inc. The company offers insurance products for automobiles and other vehicles in the United States, Puerto Rico, Canada, and through select international insurers.
Liberty Mutual Group, Inc.(LM) has subsidiaries such as Safeco Insurance Company of America, Safeco Insurance Company of New York, and others.
A wide range of auto insurance products is offered by liberty mutual to suit clients’ needs for different types of cars. This includes new car replacement plans which extend the warranty period for a totaled car by one year from the time it would normally expire on new cars up to three years total from an original five-year factory warranty on new cars. In some cases, this coverage can be extended beyond three years based on certain conditions and applicable insurance policies to specific cars.
According to AM Best, Liberty Mutual rating has received an A.M. Best financial strength rating of A+ (Superior). This is the fifth consecutive year that Liberty Mutual Group has earned this highest ranking for superior ability to meet its ongoing insurance policy and contract obligations.
AM Best also assigned an A++ (superior) rating to LMFG Life Insurance Co.’s life insurance subsidiaries; Superior quality ratings were assigned by Fitch Ratings Inc . , DBRS Limited, Inc., Kroll Bond Rating Agency, Inc., Standard & Poor’s Corp.; and A.M. Best Company assigned an A+ (superior) rating to the life insurance subsidiaries of LMFG Life Insurance Co.
How does Liberty Mutual Work?
Liberty Mutual offers car, life, homeowners, personal injury protection, inflation protection, and bodily injury liability coverage among others. It is the third-largest property and casualty insurance company in America. They provide their services to around 25 million customers in North America. Its original name was Associated Factory Mutual Fire Insurance Company or AMFMC for short back when it started. It is a mutual insurer which means that the firm’s earnings go directly into compensating claims instead of shareholders.
Here are some of the highlights of its insurance policies and coverage options:
Liberty Mutual’s broad range of homeowners insurance policies can help protect your biggest investments against adverse weather conditions and accidental damage from things like broken appliances or fire. Liberty Mutual’s new homeowners’ three-year Homeowners insurance policy at no cost will be given when you purchase one of their homeowners’ insurance plans; this warranty covers fixtures and appliances in your home insurance that develop problems after the closing date.
Liberty Mutual business insurance provides a wide variety of policies that meet the needs of today’s businesses from sole proprietorships to large corporations. Whether you need insurance for your office building, vehicles, or employees, Liberty Mutual’s has the perfect combination of plans and coverage options to cater to your specific needs. Adding on-site safety equipment can help lower employee insurance costs, while discounts for low claims experience can reduce the cost of your commercial liability policy
You can find the best life insurance policies from leading carriers through Liberty Mutual. They offer a wide range of term and whole life insurance policies to match your financial strength, age, health, and future goals. Whether you want coverage for yourself or an entire family, they have options that are easy to understand with clear pricing so you know exactly what you’re getting before making a decision.
Liberty Mutual policy offers broad travel insurance plans that protect against unexpected medical expenses incurred while abroad in addition to trip cancellation due to weather or mechanical issues. Having peace of mind while traveling is just one way Liberty Mutual policy adds security and comfort into your busy lifestyle.
Liberty Mutual offers a full range of auto insurance coverage options to meet your needs including discounts for multiple policies, low mileage drivers, and good students. If you are in the market for new auto insurance, they know that shopping around can help save money so they have 24/7 access to several different carriers so you can get the best deal when it comes time to renew.
Liberty Mutual offers specialized renters insurance policies that can help protect your personal possessions against losses from fire and other disasters. With an extremely customizable renters insurance policy and offerings such as scheduled property and replacement cost coverage, renters insurance to ensure you’re adequately covered at a great price.
Renters insurance is often paired with condo insurance. Renters insurance policy can help protect your personal property within the walls of your apartment building or condominium against events such as fire, smoke, vandalism, and more.
Liberty Mutual Coverages
By buying comprehensive insurance through Liberty Mutual, you’ll get protection against damages caused by incidents like theft or vandalism in addition to damage caused to your vehicle due to weather or other environmental factors. You can choose either actual cash value (ACV) or car replacement cost coverage—or both!
Liberty Mutual collision insurance offers coverage for damage caused to your vehicle during an accident with another car or object including accident forgiveness. ACV will reimburse you for your car’s depreciation while better car replacement cost pays the amount it would take to replace your car without deducting for depreciation.
Uninsured/Underinsured Motorist Coverage
When you buy uninsured/underinsured motorist insurance through Liberty Mutual, they’ll protect you if anyone gets injured in an accident while driving your car including accident forgiveness. Whether they’re at fault or not, this type of policy makes sure that everyone has access to quality medical coverage when required.
Liberty Mutual’s medical payments coverage offers protection for injuries that occur inside your car regardless of who is at fault. This provides you with the peace of mind to know that everyone will be able to get the care they need without having to worry about how it will affect their bottom line.
This umbrella policy will give you coverage limits protection beyond the insurer’s then-current criteria for claims that may not be covered by the coverage limits of your liberty mutual auto insurance. Driving is already an expensive activity, so purchasing umbrella coverage through Liberty Mutual can give you peace of mind knowing that if anything goes wrong, you’ll have extra financial support to get back on the road again.
What are the Features of Liberty Mutual Insurance?
Liberty Mutual offers discounts for a wide range of features and characteristics that could make your auto insurance more affordable. You can receive discounts for having safety equipment like airbags installed in your vehicle, good students are rewarded with savings on their policy, and anti-lock brakes are eligible to help lower rates. Drivers who take part in extracurricular activities like fishing or biking can also enjoy reduced premiums if they register with Liberty Mutual’s Adventure Club. Liberty Mutual also has a program called “Quality of Life” that provides savings for policyholders who practice healthy habits like jogging or attending yoga classes.
You can also opt for homeowners insurance discounts and recover additional living expenses.
Flexible Payment Options:
Liberty Mutual car insurance offers several plans and automatic payments options from a bank account to meet the needs of drivers across the country. You can choose between annual and monthly premiums, autopay discounts that provide you with 5 percent off your premium every time you pay automatically, and flexible payment options like pay-as-you-go and one-time payments so you only have to worry about paying for coverage when it’s needed most.
Liberty Mutual Customer Support:
Along with 24/7 claims service and roadside assistance, Liberty Mutual customers receive access to knowledgeable customer service representatives who are available to help explain your policy or walk you through the claims process. You can also call Automated Phone Access 24/7 so you don’t have to wait for assistance when an accident occurs. It is known for its high customer satisfaction.
Liberty Mutual offers a benefit known as rental reimbursement that is available to drivers who purchase collision and comprehensive coverage from Liberty Mutual. This provides you with the opportunity for covered expenses if your car is damaged in an accident or requires multiple repairs.
No deductible for towing services:
With Liberty Mutual deductible fund, you will not have to pay a deductible fund each time your car breaks down. If you purchase rental car reimbursement coverage on your policy, you can receive roadside assistance that includes no-deductible services like battery replacement and dead battery jump starts.
How much does Liberty Mutual Car Insurance Cost?
Liberty Mutual car insurance prices vary based on the age of the drivers. They also take into consideration your driving history, the type of vehicle to be insured, and where you live in order to come up with the amount to be charged for liability coverage.
The following example is an actual quote given by Liberty Mutual Auto Insurance:
Hi! I’m Jon — I’d like to get car insurance quotes today.
I’m 26 years old, married, drive a coupe, and live in New York.
I’ve never been in an accident, I have a speeding ticket 7 years ago, and my highest FICO score is 805.
Insurance Quotes for:
Liberty Mutual Car Insurance Minimum Coverage – $250/year Full Coverage – $2000/year
It’s important to know that these rates may change depending on the customer’s location.
You can also expect to get discounts if you are retired, married, and with a good credit score. The following table contains the average rates for different age groups:
Age Group 25 Years, Average Rate for Minimum Coverage (1 vehicle) $471/year, Average Rate for Full Coverage (2 vehicles) $1825/year
Age Group 35 Years, Average Rate for Minimum Coverage (1 vehicle) $486/year, Average Rate for Full Coverage (2 vehicles) $1760/year
Age Group 45 Years, Average Rate for Minimum Coverage (1 vehicle) $617/year, Average Rate for Full Coverage (2 vehicles) $1910/year
Age Group 55 Years, Average Rate for Minimum Coverage (1 vehicle) $790/year, Average Rate for Full Coverage (2 vehicles) $2130/year
Age Group 65 Years, Average Rate for Minimum Coverage (1 vehicle) $933/year, Average Rate for Full Coverage (2 vehicles) $2250/year
If you want to be sure about what your rate will be before committing to any insurance, it is best if you ask for a quote directly from them as well as shop around for other offers. You can also avail of discounts such as those offered for taking defensive driving courses or having a set amount of no claims bonus.
Who is Liberty Mutual Best For?
Liberty Mutual has a strong focus on protecting customers and their families, and their rates reflect high customer satisfaction. While they don’t offer cheap policies for young drivers, the average policyholders will pay less than those who choose other car insurance companies. Liberty Mutual is best for people who want to know that their company takes care of them as much as they do for their clients.
Liberty Mutual offers several options for drivers who want to pay their premiums on a monthly basis. You can also choose to automatically pay each month and receive up to 5 percent off your policy if you register with autopay. If you don’t have access to a credit card, some insurers may be able to set you up with an electronic check instead.
Although Liberty Mutual car insurance is not one of the most affordable insurance providers and insurance carriers in all states, liberty mutual’s discounts vary that can help lower rates on policies. Discounts are available for good students, those who take part in outdoor activities like fishing, and drivers who practice healthy habits like going out for jogs or attending yoga classes. Additional services like roadside assistance and liberty mutual accident forgiveness make Liberty Mutual’s a great pick for less-than-perfect drivers.
Although some people may find more affordable rates with Liberty, Liberty mutual may not be worth it if you’re looking for something simple and basic. Their plans are complex and filled with options, so it’s best if you have a lot of driving experience and knowledge about different types of insurance optional coverage before signing up with this insurer.
Liberty Mutual’s car insurance is an affordable choice for many drivers that want to bundle their home insurance and auto policies together including benefits of better car replacement coverage and getting a multi-policy discount.
Liberty Mutual Insurance Pros and Cons
Personalized quotes from licensed agents:
Liberty mutual reviews offer very promising insights into this insurer’s personal approach towards each of its clients. They never “mass sell” their policies; they always ensure that you get the best possible deal based on your specific auto insurance requirements by licensed insurance producer resident individual.
It’s important to note that Liberty Mutual’s simplest shopping experience for car insurance shoppers is a plus. This company can boast about having an extremely helpful and reliable quote-shopping tool, which allows you to compare car insurance companies’ rates from several of the top insurers. The process takes 3 minutes or less, and by entering some personal information (including your address ), you’ll get a variety of different estimates of how much your policy will cost.
Advanced technology for simple shopping experience:
Liberty mutual is often associated with high-tech policies, which can come as a surprise to those who are used to talking to an agent or haggling over prices. Liberty mutual’s website offers many great advantages like allowing you to complete your car insurance quote in 3 minutes (or less) and providing the option of remaining on hold while you shop around instead of actually talking to someone.
Although their rates might not be the absolute lowest, they still take pride in making sure that everything else about their policies makes up for what they lack in affordability. They offer 24/7 access to all of their services, including claims reporting; they put customer satisfaction at the forefront by offering several ways to reach their office, and they provide services that help all of their customers.
You can get quotes on liberty mutual mobile app too.
Unlimited policy service:
Liberty Mutual’s Insurance offers its clients an unlimited number of policy changes every year. That means you can report any changes in your life almost instantly, which helps them get you the lowest price before anyone else does so. This insurer also provides online access to claims reporting, which is often used for filing reports or requesting emergency roadside assistance through one of their partners. Finally, Liberty Mutual’s provides several different ways to contact them, including live chat on liberty mutual website and over the phone.
Complicated insurance products:
While Liberty mutual offers great preferred payment discount for drivers in all states, they often try to compensate by offering complex policies that are filled to the brim with options.
Their plans seem more geared towards people who have plenty of driving experience and knowledge about car insurance. Be prepared to spend at least an hour reading through all their fine print before signing up for a policy so you can understand exactly what it is you’re getting into.
Nonstandard car insurance rates structure:
It offers very personalized car insurance coverage rates, which means you’ll probably get different liberty mutual quote from different agents. This is an advantage if you’re trying to find the best rate possible; however, it can also be a disadvantage if you’re on a budget and can’t afford to shop around for hours on end.
This insurer excels at offering all kinds of discounts that might or might not apply to your specific situation. That doesn’t mean they always help out their clients, though. Due to the large number of variables involved in setting up policies with Auto Insurance, there might be certain discounts that are difficult for them to offer even if they want to.
Restrictive policy terms:
Auto Insurance’s rates might be lower than the average insurer’s, but they also offer fewer perks and services on their policies. Be prepared to deal with some of the most restrictive policy terms in the business if you want to get a good price for your new policy.
Their car insurance coverage might be cheaper than what you’re paying now, but there’s always the risk that you’ll feel like their policy is too restrictive to meet your needs. Make sure to read through all terms and conditions before signing up for any policies with Liberty Mutual’s Auto Insurance.
Liberty Mutual Insurance Compared to other Insurance Company
|Insurer||J.D. Power Rating||A.M. Best Rating||Multiple Discounts||Gap Coverage|
|Liberty Mutual||3/5||A +||Yes||Yes|
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It is a diversified global insurer and the 4th largest property and casualty insurer in the U.S. based on 2015 direct premiums written as reported by the National Association of Insurance Commissioners (NAIC). The company is ranked 147th on the Fortune 500 list of the largest United States corporations by revenue.
Liberty Mutual was founded in 1912 as a Massachusetts mutual assessment company to provide personal insurance coverage to policyholders throughout different parts of Boston, Massachusetts neighborhoods. It soon expanded its focus to include businesses operating within other major metropolitan areas along the northeast coast of America. Over many decades Liberty Mutual’s became a large financial group through gradual acquisitions and mergers.
Liberty Mutual Group is divided into two business segments: Global Commercial Insurance, and Global Consumer Insurance. The Global Commercial Insurance segment provides commercial property/casualty insurance products to small-and-medium-sized businesses.
The Global Consumer Insurance segment writes both personal lines (such as auto, homeowners insurance, etc.) and extended warranty policies for consumers worldwide through its network of Liberty Mutual Agency operations in the United States, Japan, and Canada; direct channel distribution in Latin America; and relationships with select third-party distributors outside of North America.
According to the National Association of Insurance Commissioners, the car insurance company provides insurance coverage options including automobile, liberty mutual home insurance, recreational vehicle (RV), small business, renters insurance, boat or yacht, umbrella liability insurance, and extended warranties; through its network of over 900 offices throughout the United States and Canada. It also offers personal property coverage and business casualty, life, and health insurance products; professional insurance and financial services such as risk management, loss control, and claims administration; home insurance emergency service plans; retirement planning services; and customized coverage options for large commercial accounts.
Final Verdict: Liberty Mutual Insurance
Liberty Mutual is a great company to go with for your auto insurance. They have competitive rates and coverage levels, which has helped them gain the trust of many customers across America. If you want to see what they can do for you, talk with one of their representatives today!
Liberty Mutual Insurance FAQs
What kind of rating does Liberty Mutual have?
Liberty Mutual is in the top 10 of most profitable insurance companies in the US with an A+ credit rating.
It has 5/5 stars on customer service, 6/5 stars for claims handling, and 3.1/5 stars overall.
Does Liberty Mutual pay claims well?
Liberty Mutual will pay your claims fairly and promptly.
Many customers qualify for a 25% liberty mutual’s discounts off their premium for good driving history, but you should always check with your agent or company before applying.
Is Liberty Mutual homeowners insurance good?
Liberty Mutual homeowners insurance has a 3.1 out of 5 stars rating on the Better Business Bureau, with 909 complaints in the past three years.
The auto and liberty mutual home insurance have been named as states’ best by J.D. Power and other agencies for 10 consecutive years from 2005 to 2015, so they must be doing something right!
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Author: Vanessa Richards
Vanessa is a mom of 3 lovely children and a software geek. Outside of her career as a health and wellness instructor. She enjoys writing and researching on topics such as finance, software, health and culinary.