Our verdict: Despite Liberty Mutual’s low customer satisfaction levels, its customizable policies and a long list of discounts are worth considering.
Liberty Mutual Group was founded in 1912. In 2020, it was the sixth-largest property and casualty insurer worldwide and third in the US. It’s a Fortune 100 company and a global leader, with a network of over 45,000 employees ready to help new and loyal customers.
Liberty Mutual home insurance and other policies are available in 29 countries and everywhere across the US. The company has multiple awards and recognitions for practicing diversity and inclusivity. Even though Liberty Mutual Insurance was founded in 2012, it has grown significantly, and its revenue for 2020 was over $43 billion.
Let’s take a look at its services and other benefits and how it compares to other providers.
Liberty Mutual Home Insurance Pros and Cons
When selecting the right company for your home insurance policy, you must consider all factors. Here’s what makes Liberty Mutual stand out and what it’s missing.
Pros
- Multiple types of coverage available
- A long list of discounts
- Powerful digital tools
- Increased chance for a discount due to 14,000 partnerships with other companies
- Great online quoting tool
- Customers can file claims via mobile devices
Cons
- Customer satisfaction ratings are below average
- Slow claim process
- Service agents are grouped in centers and can be hard to find locally
Product Overview
Liberty Mutual home insurance covers your dwelling, other structures, and belongings from fire, water, and weather-related damage. It further includes damages on property, medical bills, and loss of use costs.
Liberty Mutual will help you customize your policy so that you pay only for what you’ll use. The price of home insurance depends on your location, the weather conditions of the state, the age of your home, and the existence of recreational features, such as a swimming pool or a trampoline.
It also offers many discounts so that you can save on your monthly premium.
Liberty Mutual Homeowners Insurance Features
Let’s discuss what features and other property-related policies Liberty Mutual has.
Homeowners
The standard homeowners insurance policy with Liberty Mutual covers:
- Personal belongings
- Home and other structures
- Fire, water, and weather damage
- Damage to someone else’s property
- Medical bills
- Loss of use
Personal belongings include your furniture, clothing, electronics, and some valuables. In the event of a covered loss, the company will pay you the current market cash value of the items.
Liberty Mutual home insurance coverage for weather incidents includes wind, hail, and hurricanes and covers fences or driveways damage. It further features protection from theft and vandalism and personal liability.
The policy includes medical bills if a visitor is injured on your property, repair costs if you damage someone else’s property, and legal fees if you’re sued. The loss of use feature comes with the standard policy, and it pays for your additional living expenses if your home becomes uninhabitable.
Depending on your state, you might be required to purchase Liberty Mutual hazard insurance separately. It covers damage to your home from hail, strong winds, smoke, fire, and similar perils.
There is also optional coverage for damage caused by sewers, drains, and sump pump wells if you live in a flood-prone area. The personal property replacement cost and water backup can be purchased as add-ons.
Condo
The standard condo insurance policy includes the following coverage:
- Personal property
- Liability
- Dwelling
You can also purchase a blanket jewelry protection for your favorite pieces.
Landlord
Liberty Mutual rental property insurance covers:
- Dwelling
- Premises liability
- Wind or hail
- Fair rental value
Landlord insurance mainly covers the structure of your rental home. It comes with an add-on that activates if the repair prices rise due to inflation.
Mobile Home Insurance
Mobile home insurance will cover:
- The house and any attached structures
- Personal belongings
- Damage or injury to or on someone else’s property
If you decide to purchase Liberty Mutual mobile home insurance policy, you will be redirected to its partner, Assurant, to offer you the best coverage on the market. However, the coverage limit varies by state.
Flood
You might suffer flood-related damage even if you don’t live in a high-risk area. This is why Liberty Mutual partnered with the National Flood Insurance Program and offers NFIP policies to protect you.
Earthquake Insurance for Renters
Liberty Mutual offers earthquake insurance for renters. This optional policy covers the damage from aftershocks occurring in the 360 hours following the earthquake.
Guaranteed Repair Network
With Liberty Mutual, you’ll have access to a network of trusted contractors that can handle your roof and other exterior repairs. The company has vetted these firms, and it ensures they provide the best possible service.
Liberty Mutual roof replacement feature will handle the claims and repair process. It comes with a five-year guarantee, while there is a three-year one for other repairs.
Financial Strength
Liberty Mutual Holding Company and its subsidiaries receive impartial third-party financial ratings. A.M. Best gives Liberty Mutual an A rank, meaning it has an excellent ability to meet its policyholders’ expectations.
Moody’s gives it an A2 rating, and S&P an A, which is another indicator of its financial stability. That is why you shouldn’t have issues with your Liberty Mutual home insurance claims.
Customer Service
If you have any questions about your insurance policies or claims, there are several ways to contact Liberty Mutual customer support representatives.
Liberty Mutual offers in-person assistance in its local offices. However, certain states don’t have local agents available. You can call the phone number during work hours or use the mobile app and official website. You can also reach out via Twitter, email, and regular mail.
Based on customer reviews, Liberty Mutual has below-average customer support ratings.
- WalletHub – 2.9/5
- ConsumerAffairs – 4/5
- Clearsurance – 3.96/5
- NerdWallet – 4.5/5
Insurance Cost
Your Liberty Mutual home insurance quote depends on your location, home age, weather conditions, and more. You can customize your policy and include the coverages that you know you’ll need.
However, these add-ons can raise your premium. According to some estimates, Liberty Mutual’s monthly costs may range from $87 to $359 and between $1,044 and $4,308 annually.
Luckily, you’ll have access to a long line of discounts that can help you save money.
Liberty Mutual Home Insurance Discounts
There are many great ways to save on your premiums with Liberty Mutual.
Claims-free
If you haven’t filed any claims with your previous insurer within the last five years or longer, you might be eligible for this discount.
Safe Homeowner Program
This discount is similar to the previous one. If you’re a Liberty Mutual customer and haven’t had any claims in the past three years, you might be eligible for additional savings.
Early Shopper
Purchase Liberty Mutual home insurance before the expiration of your current one, and you’ll get a discount.
Newly Purchased Home/ Renovated Home
Liberty Mutual would offer you these deals if you purchased a new home or did significant renovations and improvements to your current one.
New Roof
A new roof is a wise investment, and it will also earn you additional savings at Liberty Mutual.
Multi-policy
There are several options to bundle your discounts and save up to $947 annually, depending on your state and when you purchased the policies.
Insured to Value
You can lower your Liberty Mutual home insurance quote if you insure up to 100% of your property replacement cost.
Preferred Payment
This discount also varies by state. If you enroll for any form of automatic payment, check to see if you’re eligible for this saving method.
Paperless Policy
The company is devoted to sustainability, so you might get a discount for your Liberty Mutual home insurance quotes if you switch to any electronic communication method.
Companion Home for Landlords
That is a particular type of bundling discount to insure your rental property and home at once.
Affinity Discounts
We already mentioned that Liberty Mutual partners with about 14,000 other companies, credit unions, and organizations. That might make you eligible for additional discounts.
Liberty Mutual Homeowners Insurance Quotes Comparison
Even though your home insurance quote will vary based on many factors, some companies offer more affordable policies than others. Let’s see how Liberty Mutual compares.
Liberty Mutual vs. USAA
Liberty Mutual lets you customize your home insurance policy. It also offers multiple discounts to help you save on money. Overall, its average monthly premiums range from $87 to $359. In some states, you may pay a Liberty Mutual homeowners insurance quote lower than the national average.
USAA, on the other hand, only offers its services to active and retired military personnel and their families. Reviews show the annual premium ranges between $1,650 and $1,800. That translates into a monthly fee between $137 and $151.
Liberty Mutual vs. Amica
While Amica is not available in all states, it offers an excellent dividend program where you might be eligible for up to 20% of money-back. This option is unavailable for Liberty Mutual homeowners insurance.
Amica homeowners insurance monthly premium is usually lower than the national average. The price depends on your location — the average cost ranks between $94 and $161 monthly. These prices are similar to those of Liberty Mutual.
Overall Competition Comparison
Each insurer has a specific financial strength rating that shows how good it is in paying out claims. It is among the aspects to consider when choosing a provider. Here’s how Liberty Mutual compares to some of its competitors.
Liberty Mutual vs. Progressive
While Liberty Mutual is a direct provider of its insurance policies, Progressive partners with third-party companies to provide its services. That means you can’t manage your policy or file a claim directly with Progressive the way you could with Liberty Mutual.
Progressive also doesn’t have many bundling policies options. Still, A.M. Best gave it an A+ rank, and Moody’s Investor Services and S&P an AA. Progressive also has slightly below the average customer satisfaction rates.
Based on this comparison, Liberty Mutual is a better choice if you’re looking for a company that will provide your insurance policies directly.
Liberty Mutual vs. State Farm Home Insurance
State Farm helps people manage risks and recover from adverse events. A.M. Best gives it an A++ rank, which is the highest score. State Farm has good customer support reps and agents assisting the homeowners.
State Farm also offers additional financial services, unlike Liberty Mutual. It further has above-average customer service satisfaction ratings. The latest Liberty Mutual customer reviews aren’t as favorable.
Liberty Mutual vs. Allstate
Allstate has slightly better rates than the ones Liberty Mutual home insurance review reveals for their customer support. Allstate also has a lower number of complaints compared to several other companies.
Fitch Ratings gives Allstate an A+ for financial strength, and it had a strong performance in the first quarter of 2020, likely to remain such in the future. The company’s insurance subsidiaries also provide a significant dividend capacity. Therefore, it’s also an excellent choice.
Expert Thoughts
Liberty Mutual home insurance helps you protect your property, family, and belongings and the company has over a century of experience in providing various types of policies. It holds many awards and recognitions for its financial stability, proving it can pay out the customers’ claims without issues.
With Liberty Mutual, you’ll have access to highly customizable policies. However, add-ons increase the costs, but the offered discounts can help you save on your premium. You can always call a representative to address any concerns or ask questions before purchasing a policy.
The most recent customer satisfaction reviews weren’t entirely positive. The below-average company rates in that regard are the most significant disadvantage Liberty Mutual has.
People Also Ask
Liberty Mutual Group was founded in 1912, and today it’s the sixth-largest insurer globally. A.M. Best gave it an A rating, just like S&P. It means you shouldn’t have any issues filing your claims.
Still, it has a high number of customer complaints. Many policyholders reveal poor customer service, sudden rate increases, and a slow claiming process.
We advise reading recent customer reviews and contacting a Liberty Mutual agent if you have any concerns.
The primary factor that affects the cost of your insurance policy is your location. The age of your home, state weather, home improvements, and other things will all be used to calculate the final cost. That is why the monthly cost of your policy may range from $87 to $359.
Liberty Mutual offers many discounts to help you save on your policies, available to new and loyal customers.
Liberty Mutual offers the services of local agents in some states, and you can check their availability on the company’s website. You can also use its mobile app.
Other ways to contact Liberty Mutual include phone, Twitter, email, and regular mail. However, many customers stated that Liberty Mutual customer support is not the best. Nonetheless, you should always reach out if you are experiencing any issues.
Liberty Mutual is among the best companies on the market at the moment. It has over a century of experience in providing insurance. Its homeowners policies are highly customizable, with many upgrade options.
Based on independent, third-party reviews, Liberty is a financially sound company that shouldn’t face difficulties paying out customer’s claims. Regardless, people complained about unexpected increases in premiums and poor customer support.
We believe that Liberty Mutual is worth considering for its services and discounts.
GEICO offers home insurance policies through its partners. Even though it is not a direct provider, it has many discounts available, and customers usually qualify for more than one. On average, Geico’s home insurance costs about $116 per month.
Liberty Mutual also has great discounts for various types of customers. Depending on your location, the age of your home, and improvements you’ve made to it, the policy might cost you from $87 to $359 per month.
Liberty Mutual is an industry leader in insurance policies. With A ratings from A.M. Best and S&P, you should be confident that your claims will be paid without issues since this company is financially sound.
Many customers recently complained about how Liberty Mutual handles claims — both in terms of speed and payment. If you have any concerns, we advise you to reach out to a Liberty Mutual agent for clarification.
There are a few things to consider before you decide to cancel your policy. It’s good to check whether you have new discount options available. Also, in case you have a gap in your policies, you might face the consequences, such as not qualifying for deals on another premium.
You should know that the cancellation process varies based on state regulations, and you might have to pay a fee if you want to cancel your Liberty Mutual home insurance policy.
