Liberty Mutual Insurance 2023: Review and Facts
The 6th largest property and casualty insurer in the United States, Liberty Mutual employs over 45,000 people in more than 900 locations throughout 29 countries, catering to millions of insurance seekers. From auto to life to homeowners to pet insurance, the renowned insurance provider offers a wide range of insurance products and discounts for a variety of categories.
But is Liberty Mutual better than other prominent insurance companies: Allstate, Nationwide, USAA, Progressive, State Farm, or The Hartford? Let’s evaluate the major offers from Liberty Mutual and see whether this insurer is superior to its peers.
History
- 1912 – Liberty Mutual (then known as the Massachusetts Employees Insurance Association) was created as a response to a state law requiring employers to protect their employees with workers’ compensation insurance.
- 1914 – the first auto insurance policy was written.
- 1917 – the insurance provider is renamed Liberty Mutual.
- 1964 – the first life insurance policy was written.
- 2002 – the insurance company is converted into a mutual holding company structure to offer stock.
- 2009 – Liberty Mutual acquires Safeco Corporation.
- 2013 – Liberty Mutual Tower becomes the new headquarters of Liberty Mutual Insurance Group.
Liberty Mutual has a history of natural growth and acquisitions. As a result, the insurer comprises 25 subsidiaries providing insurance services in 29 countries.
Liberty Mutual Insurance Products 2023
- Auto & Vehicle: Car, Motorcycle, Boat & Watercraft, Antique & Classic Car, ATV & Off-Road Vehicle, RV, and Umbrella insurance.
- Property: Home, Renters, Condo, Landlord, Mobile Home, Flood, and Umbrella insurance.
- Business: Small Business coverage as well as Midsize & Large Business coverage.
Other: Life, Accident (currently not available), Critical Illness (currently not available), Identity Theft, Pet, and Tuition Insurance.
Liberty Insurance Auto Insurance 2023
Policyholder’s Car Coverage
| Coverage Name | What Is Covered |
| Collision | Costs of repairing or replacing the policyholder’s vehicle if it’s damaged in an accident, regardless of whether the policyholder is at fault |
| Comprehensive | Costs of repairing or replacing the policyholder’s vehicle if it’s damaged by fire, storm, flood, vandalism, or theft |
| Liberty Mutual Deductible Fund | Policyholders with collision coverage can lower their deductible at the expense of a higher premium |
| Lifetime Repair Guarantee | Repair costs of the policyholder’s car from one of the 2,000 Guaranteed Repair Network locations nationwide |
| New Car Replacement | Costs of a new car if the policyholder’s new car is totaled in the first year |
| Better Car Replacement | Costs of a new car (one year newer than the policyholder’s vehicle) if the policyholder’s new car is totaled |
| Rental Car Replacement | Costs of a rental car if the policyholder’s car is rendered unusable after a covered accident |
| 24-Hour Roadside Assistance | Round-the-clock help if the policyholder is locked out of the vehicle or needs towing or battery or tire change |
| Gap | The amount the policyholder owes if the leased car is totaled and its value is lower than the amount remaining on the loan |
| Original Parts Replacement | Replacement of any damaged parts of the policyholder’s vehicle |
| Teachers’ Auto Insurance | Collision, vandalism, and stolen supplies or school property in the policyholder’s car |
| Mexico Car Insurance | Customizable coverage for drivers crossing the Mexican border |
Policyholder’s Medical Expenses Coverage
| Coverage Name | What Is Covered |
| Medical Payments | Ambulance transportation, initial hospital stay, and other medical costs of the policyholder and passengers |
| Uninsured Motorist |
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| Personal Injury Protection (PIP) | Policyholder’s Potential medical expenses resulting from an accident: hospital bills, medication, prosthesis, and rehabilitation costs |
Third Party’s Property and Medical Expenses Coverage
| Coverage Name | What Is Covered |
| Bodily Injury Liability | Medical expenses, legal fees, legal counsel, loss of income, pain & suffering, and funeral costs of a third party involved in an accident when the policyholder is at fault |
| Property Damage | Damage to a third party’s vehicle and property if the policyholder is at fault |
| Medical Payments | Passenger’s initial medical expenses regardless of who is at fault |
Use Liberty Mutual’s car insurance coverage calculator to select the right coverage.
Rates
The average annual cost of car insurance in the United States is $1,500, but the real cost of your car insurance depends on your state, driving record, how often you drive, the repair cost of your car, safety features installed on your car, and more. You can get an auto insurance quote from Liberty Mutual on this webpage.
Discounts
| Discount | How to Quality |
| Online Purchase: varies | Purchase your auto policy online |
| Bundle and Save: $950 for bundling auto and home insurance | Bundle your auto insurance with home, renters, or condo policy |
| Right Track: up to 30% | Safe driving for a specified period of time |
| Paperless Policy: varies | Sign up for a policy online |
| Pay-in-Full: varies | Pay for your policy in one or two payments |
| Alternative Energy: varies | Have an electric or hybrid vehicle |
Liberty Insurance Health Insurance 2023
| Coverage Name | What Is Covered |
| Accident* |
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| Critical Illness*: coronary artery bypass surgery, stroke, heart attack, organ transplant, and cancer |
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*Liberty Mutual Critical Illness insurance and Accident Insurance are currently not available.
Liberty Insurance Life Insurance 2023
| Coverage Name | What Is Covered |
| Whole Life | Customizable lifetime coverage with a guaranteed income-tax-free death benefit, level premium, and cash value that can grow tax-deferred. |
| Term Life | Customizable coverage for 10, 15, 20, or 30 years that can be continued at the end of the level term period. |
| Fixed Annuities/Fixed Income | Coverage with a guaranteed long-term, tax-deferred interest |
Rates
The cost of your life insurance will depend on your age, gender, health condition, habits, and the type and amount of coverage you want to get. For example, for a 25-year-old smoker, the annual cost of life insurance with Mutual Liberty would be about $400.
Liberty Insurance Property Insurance 2023
| Coverage Name | What Is Covered |
| Homeowners |
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| Renters |
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| Condo |
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| Landlord | Damage to the rental property, loss of rent, and damage or injury occurred on the property |
| Mobile Home | Mobile home, attached structures, personal belongings, and damage or injury to the property of a third party |
| Flood | Home and property up to the coverage limits |
| Umbrella | Additional insurance on top of your home insurance (valid worldwide):
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Rates
The average homeowners insurance cost in the United States is about $1,428 for $250,000 in dwelling coverage, but the real cost of your homeowners insurance will vary depending on your state, your home’s price, rebuild cost, age, and condition, as well as your credit history and the type and amount of coverage you want to get.
Discounts
| Discount | How to Qualify |
| Claims-Free | Have no claims for five years or more |
| Safe Homeowner Program | Remain claims-free for three or more years |
| Early Shopper | Get a quote before your current policy expires |
| Newly Purchased Home | Buy your policy shortly after buying a new home |
| New/Renovated Home | Renovate or build a home |
| New Roof | Install a new roof |
| Multi-Policy | Bundle home, condo, or renters insurance policy with auto policy |
| Insured to Value | Insure up to the full cost to replace your home |
| Preferred Payment | Enroll in automatic payments (linked to your bank account) |
| Paperless Policy | Sign up for a policy online |
Liberty Insurance Pet Insurance 2023
| Coverage Name | What Is Covered |
| Accident | Accidental injuries, accidental death, ingestion of a foreign object, anesthesia, and euthanasia |
| Accident and Illness | Illnesses (influenza, cancer, etc.), behavioral therapy, alternative medicine, and hereditary & congenital conditions |
| Accident, Illness, and Wellness | Prescriptions, vaccinations, boosters, dietary food, supplements, heartworm tests & medication, flea & tick prevention, spaying & neutering, routine dental cleaning, intestinal deworming, and wellness exams |
Rates
The average cost of pet insurance with Liberty Mutual is $1.66 per day. The real cost of your pet insurance will depend on your pet’s breed, health, age, size, state, and more.
Discounts
You can get a 5% discount on your premium for having two pets and a 10% discount on your premium for three or more pets.
Pros and Cons of Liberty Mutual
| Pros | Cons |
| Wide range of auto and property insurance plans | Limited choice of health insurance |
| Elaborate system of discounts | Limited discounts for life and pet insurance |
| State-of-the-art digital environment | Controversial customer review service feedback |
Liberty Mutual Insurance Ratings 2023: Moody’s, J.D. Power, Standard & Poor’s, and BBB
| Company | Rating |
| Moody’s | A2: stable |
| J.D. Power | A+: 872 points out of 1,000 |
| Standard & Poor’s | A: strong financial security |
| BBB | A+: the highest rating |
Customer Review Service Ratings
Reviews on Liberty Mutual are not uniform across the board. While some websites rate the insurance company as high as 8 out of 10 or 4 out of 5, other reviewers – for example, BBB – give it low ratings (1.11 out of 5 on BBB). This leads to the conclusion that the quality of customer service may not be the same with all clients, as well as that there are no uniform criteria for objectively estimating the quality of service rendered to a particular client.
Working at Liberty Mutual
Liberty Mutual has vacancies across the following verticals: analytics, claims, customer service, digital & technology, field sales, finance & accounting, human resources, inside sales, investments, legal, marketing, nursing, product management, risk control, strategy & planning, and underwriting. You can search for open vacancies on this webpage.
Liberty Mutual scored an overall 3.6 out of 5 on Indeed.com according to over 5,216 reviews from former employees:
- Work-life balance – 3.5
- Pay & benefits – 3.8
- Job security and advancement – 3.1
- Management – 3.1
- Culture – 3.3
Salary-wise, the average annual salaries at Liberty Mutual are:
- Product owner – $131,625
- Claims adjuster – $71,118
- Underwriter – $82,296
- Insurance agent – $40,402
How to Become a Partner
To become an affiliate partner with Liberty Mutual, sign up for the program through Commission Junction and wait for approval.
How to File A Claim
You can file and track claims on this webpage. To file a claim, you’ll need your username, password, the date of the incident, and general details about the accident.
Insurance Complaints
For questions pertaining to insurance claims, call 800-225-2467.
Contacts
All contacts for Liberty Mutual are on this webpage.
