Liberty Mutual, which is headquartered in Boston, Massachusetts, was founded in 1912. Today, the insurer ranks as the fifth-largest property and casualty insurance carrier in the U.S. based on its 2020 direct premiums written of $36.2 billion, according to the Insurance Information Institute. If you’re looking for a well-respected company with a variety of product lines, you may want to consider Liberty Mutual.
|Easily accessible online portal and mobile app||More than average complaints filed with the National Association of Insurance Commissioners (NAIC)|
|Offers auto, home and life insurance||Below average score in the J.D. Power 2021 U.S. Auto Claims Satisfaction Study|
|Offers a wide range of discounts||Below average score in the J.D. Power 2021 U.S. Home Insurance Study|
|Available in all 50 states and the District of Columbia|
Liberty Mutual offers a variety of insurance products, including home, auto, renters, motorcycle, pet, life, business insurance and more to customers throughout all 50 states and Washington, D.C. One of the factors that stands out with Liberty Mutual is the wide range of discounts, which make it a competitive option for budget-conscious shoppers. The company also offers an easily accessible online portal and mobile app for policyholders who prefer to manage their policies online. Liberty Mutual may also be beneficial for shoppers looking for multiple product lines, since the company offers home, auto and life insurance.
Liberty Mutual car insurance | Bankrate Score 3.9
Bankrate’s team of experts gave Liberty Mutual a Bankrate Score of 3.9 out of 5. The company ranked well in terms of mobile app accessibility, AM Best financial strength score, coverage options offered and available discounts. However, the company fell flat when it came to third-party customer reviews. Liberty Mutual received below-average ratings from J.D. Power in home and auto insurance. In addition, a higher than average number of NAIC complaints were filed against the company.
In addition to the standard car insurance coverage options, such as liability, collision, comprehensive and uninsured motorist insurance, Liberty Mutual stands out for offering several unique add-ons that can expand your coverage. Auto insurance options include:
- Lifetime repair guarantee: As long as you use Liberty Mutual-approved shops, the company will arrange your repairs and guarantee them for as long as you own your vehicle.
- Better car replacement: For older vehicles that are totaled, the insurer will give you enough cash to buy a car one model year newer and with 15,000 fewer miles.
- Teachers’ auto insurance: This unique policy for teachers offers extra coverage related to incidents of vandalism, collisions and personal property damage or losses that occur while at school or driving to and from work. This option is not available in all states.
- Mexico insurance: If you are planning to drive into Mexico, you can purchase special coverage from MexPro through Liberty Mutual. Standard auto insurance policies do not apply outside the U.S.
Liberty Mutual car insurance discounts
- Driving discounts: Get rewarded for your safe driving record. Most notable is Liberty Mutual’s RightTrack usage-based insurance program, which uses a smart tracking device and app to earn you savings of up to 30% on your premium for your safe driving habits. You can also save money if you are accident-free and violation-free.
- Early shopper discount: If you get a car insurance quote from Liberty Mutual before your current policy expires, you may qualify for a discount.
Liberty Mutual car services
Liberty Mutual’s 24/7 roadside assistance sends help in a roadside emergency. If you ran out of gas, have a dead battery, need a tire change or need to unlock a car door, Liberty Mutual will take care of it. Just make sure you’re signed up for the company’s optional towing and labor coverage.
Liberty Mutual home insurance | Bankrate Score 3.9
Bankrate’s experts analyzed Liberty Mutual’s coverage offerings, discount options, mobile app, and third-party scores, and gave the company a Bankrate Score of 3.9 out of 5. Liberty Mutual scored highly in terms of mobile app, AM Best financial score and policy options. However, the company scored below industry average on the J.D. Power 2021 U.S. Home Insurance Study and received more NAIC complaints than average. Liberty Mutual may be a good choice for home insurance shoppers looking for an easy-to-use mobile app and extensive policy options. However, if you want above-average customer service, you may want to look elsewhere.
Liberty Mutual home insurance policies provide standard coverages, including your dwelling, personal property, liability and any additional living expenses — plus a variety of extras. Some of the add-on coverage types you can purchase from Liberty Mutual include:
- Blanket jewelry: Homeowners who keep expensive jewelry in their home will benefit from blanket jewelry coverage, which will replace your jewelry if it gets lost or stolen, with no deductible or appraisal needed.
- Hurricane coverage: This type of coverage may cover property damage related to a hurricane.
- Water damage: Liberty Mutual may cover the water damage that occurs to your home from a backup or overflow.
- Inflation protection: When your policy renews, inflation protection coverage automatically adjusts your coverage limits based on changes in inflation.
Liberty Mutual home insurance discounts
Liberty Mutual offers a wide range of common discounts that could help you lower the cost of your homeowners insurance premium. The company also offers a few less common home insurance discounts, including:
- Claims-free switch: This could earn you a discount for staying claims-free for five years or more if you are switching from another insurer.
- New roof: You may qualify for a discount if you add or retrofit a new roof.
- Military: You may qualify for this discount if you’re a military service member or veteran.
- Early quote: Getting a quote before your old policy expires could earn you a discount.
Liberty Mutual home services
Liberty Mutual offers guides to consumers on a wide variety of topics, including: how to avoid identity theft, how to reopen a business after shutting down, how to restore manufacturing operations and how to stay safe on construction sites during the pandemic.
Liberty Mutual life insurance
Liberty Mutual’s life insurance options are somewhat limited compared to many of its competitors. The company only offers term, whole and fixed annuity life insurance, along with a few riders to help you customize coverage. Liberty Mutual also offers a network of local agents that can help you choose and navigate your life insurance policy.
- Term life insurance: Term life insurance offers short-term coverage for 10, 15, 20 or 30 years. There is a guaranteed death benefit and your premium will never change during the term. Liberty Mutual’s term life insurance policies include a built-in conversion guarantee, a variety of riders and the option to convert to permanent coverage at any time.
- Whole life insurance: Whole life insurance builds cash value, offers a guaranteed tax-free death benefit and has level premiums. Liberty Mutual offers several different types of whole life insurance, including simplified issue and single premium coverage.
- Fixed annuity: Liberty Mutual also offers fixed annuity life insurance coverage, where you make one premium payment and get guaranteed income during retirement. There are two options — single premium deferred annuity and fixed indexed annuity.
Liberty Mutual life insurance endorsements
Liberty Mutual offers several life insurance endorsements to help policyholders customize their coverage. These endorsements are:
- Children’s protection rider: This endorsement pays out a death benefit if the unthinkable were to happen and one of your children were to pass away.
- Disability waiver of premium: This endorsement allows the policyholder to stop paying premiums if they develop a disability and continues for the duration of their condition.
- Accidental death and dismemberment: This endorsement pays a death benefit if the insured loses limbs, eyesight, speech or develops other issues in an accident, depending on the bounds of the policy. This endorsement will also pay out if the insured dies in an accident.
- Guaranteed insurability option: This endorsement allows a policyholder to renew their policy within a specific window, regardless of changes in their health.
Liberty Mutual life services
On its website, Liberty Mutual offers business webinars hosted by experts, as well as articles to help you understand financial products, such as bonds and cryptocurrency.
Other Liberty Mutual perks worth considering
The following services may make Liberty Mutual a compelling choice for certain shoppers.
- Highly-rated mobile app: Liberty Mutual’s app allows customers to access ID cards quickly and easily. It has a rating of 4.8 out of 5 on the App Store and a rating of 4.7 out of 5 on Google Play.
- Landlord insurance: If you rent a property to tenants, you may want to cover your assets with insurance specifically designed for landlords.
- Tuition insurance: This can cover schooling fees that remain if a student needs to withdraw from school due to a medical issue.
- Small business insurance: If you own a small business, you may want to make sure you’re financially covered against the liabilities that come with it.
- Umbrella insurance: Umbrella insurance provides a high dollar amount of liability insurance, which can be useful to cover injuries and property damage that you’re responsible for and/or fees associated with a lawsuit.
Liberty Mutual social responsibility
Liberty Mutual launched the Personal Auto Customer Relief Fund in 2020, which gave customers a 15% refund on two months of auto insurance to account for pandemic difficulties. In addition to pandemic-induced financial aid, Liberty Mutual operates the Liberty Mutual Foundation, a charitable organization that writes grants and hosts outreach events. The foundation mainly supports community organizations for men, women and children experiencing homelessness, poverty and disabilities in Seattle, Boston and Dallas.
Not sure if Liberty Mutual is right for you? Consider these alternatives
- Farmers: Farmers has a higher J.D. Power score for auto claims satisfaction and home insurance. If you’re looking for higher levels of customer satisfaction, you may want to research Farmers.
- USAA: USAA only writes policies for its members, which are limited to active duty military, veterans and qualifying family members, and caters specifically to their needs. The company won 2022 Bankrate Awards for auto and home.
- Allstate: Allstate offers several innovative programs, including Rate Guard, which can help your premium remain consistent, and the Claims-Free Reward program, which rewards customers for staying claims free when they renew their policy. If you’re looking for unique ways to save, you may want to consider Allstate.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.
- Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000
- Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000
- Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000
- Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers and homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best car and home insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers and homeowners, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry, as well as 40-year-old male and female homeowners with $250,000 in dwelling coverage. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers and homeowners may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.