June 25, 2024

Headquartered in Boston, Liberty Mutual is amongst these uncommon corporations that may boast greater than a century of being in enterprise. It was based in 1912, when the Titanic sinking made headlines, William Howard Taft was president, and the Ford Mannequin T was America’s hottest automobile. 

However like all profitable, long-running firm, Liberty Mutual has developed with the instances. As we speak, it is the nation’s finest automobile insurer (by written premium) and an organization that gives insurance coverage for vehicles, houses, companies, and extra. 

Liberty Mutual Auto Insurance coverage

Common annual charge

$1,752

JD Energy Buyer Satisfaction

870 (11)

Execs:

  • Vast collection of protection choices and reductions
  • Higher pricing than opponents in a number of classes
  • Potential 30% low cost by collaborating in its RightTrack UBI program
  • A.M. Greatest A ranking for monetary power

Cons:

  • Some states don’t seem like served by an agent
  • Middling claims and customer support scores

TIME’S Take

With many selections for automobile insurance coverage, it is typically tough to distinguish amongst corporations. However there are particular issues to search for: Coverages you want and choices that assist you to customise a coverage. Reductions that will help you lower your expenses. Extremely rated service. Excessive scores for monetary power, so the corporate can be there whenever you want it. And, after all, you need all of this at an inexpensive price. 

Liberty Mutual does not beat the competitors in each class. In reality, a few of its claims and customer support scores are regarding. However the firm does provide a variety of coverage choices and reductions on high of its very aggressive pricing. It will not be the highest automobile insurance coverage firm on the market, however it’s an general good selection.

Liberty Mutual automobile insurance coverage: Execs and cons

Vast collection of protection choices and reductions

Some states don’t seem like served by an agent

Higher pricing than opponents in a number of classes

Middling claims and customer support scores

Potential 30% low cost by collaborating in its RightTrack UBI program

A.M. Greatest A ranking for monetary power

How Liberty Mutual’s automobile insurance coverage charges examine to its opponents’

To find out Liberty Mutual’s value competitiveness, we in contrast its charges to these of three different main automobile insurance coverage suppliers throughout 5 pricing classes.

Sources: WalletHub.com, USNews.com

Be aware: We gathered coverage pricing info from publicly obtainable on-line sources and share it for informational functions solely. Your price could range dramatically from what’s proven right here.  

How a lot does Liberty Mutual automobile insurance coverage price? 

Teenagers

Teenagers are among the many most costly drivers to insure. Their lack of expertise behind the wheel makes them extra susceptible to car accidents. 

Should you’re a teen, or a household who must insure one, verify Liberty Mutual. The corporate’s $2,604 annual premium for teenagers shouldn’t be solely the bottom in our overview, nevertheless it’s $1,354 cheaper than the closest competitor. That’s additionally lower than one-third the price of the most costly competitor. 

Age 35-45

Extra skilled drivers pay much less for insurance coverage—that’s true for all the businesses on this comparability. 

Liberty Mutual edges out its competitors on pricing for these within the 35-45 age vary. Its $1,092 annual premium is $142 lower than its closest competitor.

Seniors

Liberty Mutual may be an ideal alternative for seniors. At $1,080, the corporate’s price for seniors is $40 lower than its closest competitor.  

DUI

A conviction for driving underneath the affect (DUI) can have an effect on your insurance coverage price. Liberty Mutual’s $2,328 annual premium for a DUI is the second highest of the businesses in our overview. 

Rushing ticket

Liberty Mutual expenses $1,656 in annual premium for a driver with a rushing ticket. That is the second least expensive in our overview, and $247 greater than the most cost effective premium. 

Extra about Liberty Mutual

Price is simply one of many components you must consider when purchasing for insurance coverage. Right here’s how Liberty Mutual does for product options, professional rankings, and extra. 

Reductions

Liberty Mutual presents a variety of reductions that will help you lower your expenses. In accordance with the corporate’s web site, they embrace the next:

  • Declare-free.
  • Early shopper.
  • Good pupil.
  • Home-owner.
  • Army.
  • Multi-car.
  • Multi-policy.
  • On-line buy.
  • Paperless.
  • Pupil away in school.
  • Utilization-based insurance coverage (UBI).
  • Violation-free.

Like many different main insurance coverage corporations, Liberty Mutual presents a UBI program. Known as RightTrack, this system advertises reductions of as much as 30% if you happen to comply with share driving information with the corporate, and that information proves you exhibit protected driving habits.  

Protection choices

Liberty Mutual presents the coverages it’s good to drive legally and shield your funding in your automobile. These embrace legal responsibility, private damage safety, uninsured motorist, collision, and complete coverages. 

The corporate additionally presents a wide selection of extra coverages to customise a coverage. In accordance with the Liberty Mutual web site, these choices embrace accident forgiveness, higher automobile alternative, deductible financial savings fund, hole, OEM components protection, rental reimbursement, and roadside help. 

Claims service scores

Liberty Mutual ranked eleventh nationally within the \[J.D. Power 2022 U.S. Auto Insurance Claims Satisfaction Study](https://www.jdpower.com/enterprise/press-releases/2022-us-auto-claims-satisfaction-study). Its 870-point rating within the examine was barely under the nationwide common of 873 factors. 

The corporate additionally acquired a D+ grade within the Crash Community Insurer Report Card. This grade displays how properly the corporate works to make sure high quality repairs and customer support for the claims course of. For reference, competing corporations Progressive and State Farm each earned C grades, whereas Allstate earned a D+.

Customer support scores

Liberty Mutual has a 33% Internet Promoter Rating (NPS), in response to \[clearsurance](https://clearsurance.com/weblog/nps-insurance-companies). Broadly utilized in many industries, NPS measures an organization primarily based on its prospects’ chance of referring it to buddies, household, or colleagues. A rating of over 50% is taken into account glorious. The insurance coverage trade common is 44%.

The corporate’s shopper criticism index from the Nationwide Affiliation of Insurance coverage Commissioners(NAIC) is worryingly excessive. An index under 1.0 means the NAIC receives fewer-than-average complaints a few specific firm. Liberty Mutual’s index is 2.46. Allstate, Progressive, and State Farm all have indexes underneath 1.0. 

Ease of use

Many automobile insurance coverage corporations provide on-line coverage quotes. Just a few assist you to full a purchase order of the quoted coverage on-line. Liberty Mutual is one in every of them, and we like that. 

The corporate additionally presents a community of native, unbiased brokers, which is a plus if you happen to choose extra steerage when shopping for insurance coverage. Bear in mind, although, that some states seem to have few or no Liberty Mutual company places. So, if you happen to’re in one in every of these states and wish to purchase a coverage, you could have no alternative however to do it on the firm’s web site.

Liberty Mutual’s digital experiences had blended leads to the \[J.D. Power 2023 U.S. Insurance Digital Experience Study](https://www.jdpower.com/enterprise/press-releases/2023-us-insurance-digital-experience-study). The corporate ranked fourth nationally for procuring and a below-average thirteenth for service. 

Monetary power

Liberty Mutual has an A ranking for monetary power from A.M. Greatest. This implies you could be assured the corporate will pay claims and supply different companies whenever you want them probably the most.

A.M. Greatest is an unbiased credit score and monetary ranking company specializing in the insurance coverage trade. Its monetary power scores reveal an organization’s means to satisfy its monetary obligations, akin to claims payouts. It charges corporations on a scale from A++ (Superior) to D (Poor). Liberty Mutual’s A ranking is labeled as “Glorious,” and is the second highest on the size.

The place can you purchase Liberty Mutual?

Liberty Mutual automobile insurance coverage is on the market in all 50 U.S. states. Quotes and insurance policies can be found on-line and thru the corporate’s community of native brokers. 

Different sorts of insurance coverage

Liberty Mutual sells a wide range of insurance coverage merchandise apart from automobile insurance coverage. In accordance with the corporate’s web site, insurance coverage choices embrace:

Midsize and huge enterprise

*In partnership with the Nationwide Flood Insurance coverage Program (NFIP) 

Backside line

Liberty Mutual is a little bit of a blended bag. It presents low pricing plus a variety of reductions, quite a few protection choices, well-liked gross sales and repair options, and has demonstrated a excessive diploma of monetary power. Nevertheless, a few of its scores for claims and customer support are under the trade common. 

Nonetheless, the corporate matches up properly with different suppliers in a crowded automobile insurance coverage market. You owe it to your self to verify with Liberty Mutual when procuring round for protection. 

Liberty Mutual Auto Insurance coverage

Common annual charge

$1,752

JD Energy Buyer Satisfaction

870 (11)

Execs:

  • Vast collection of protection choices and reductions
  • Higher pricing than opponents in a number of classes
  • Potential 30% low cost by collaborating in its RightTrack UBI program
  • A.M. Greatest A ranking for monetary power

Cons:

  • Some states don’t seem like served by an agent
  • Middling claims and customer support scores

Steadily requested questions (FAQs)

Who’s Liberty Mutual Insurance coverage?

Headquartered in Boston since 1912, Liberty Mutual is one in every of America’s oldest insurance coverage corporations. The corporate in the present day presents insurance coverage for vehicles, houses, powersports automobiles, and companies, amongst different classes.  

Who’s cheaper than Liberty Mutual?

Liberty Mutual automobile insurance coverage is on the cheaper aspect of the 4 main corporations we reviewed, together with Allstate, Progressive, and State Farm. Liberty Mutual had the bottom charge for teenagers, these aged 35-45, and people aged 60. It had the second-cheapest charge for rushing tickets, and the third-cheapest charge for DUI. In these final two classes, State Farm presents the most cost effective charges. 

Is Liberty Mutual good at paying claims?

It is difficult to supply a easy reply as to whether or not a selected insurance coverage firm is nice at paying claims. We all know that Liberty Mutual has an A “Glorious” Monetary Energy Ranking from A.M. Greatest. This implies the corporate is financially sound and will be capable of pay buyer claims. 

Nevertheless, professional scores of the corporate’s claims service current a extra blended outcome. Crashnetwork offers Liberty Mutual a D+ grade in its Insurer Report Card, whereas J.D. Energy ranked the corporate under common (in comparison with different main insurance coverage corporations) in its 2022 U.S. Auto Insurance coverage Claims Satisfaction Examine.

These outcomes do not essentially have to dissuade you from selecting Liberty Mutual. Nevertheless, if in case you have a declare with Liberty Mutual, make sure you be very proactive in following the claims consultant’s directions, offering all requested info, and heeding any deadlines. Do all you possibly can to assist make sure the claims course of goes easily.

What’s Liberty Mutual Comparion?

Liberty Mutual launched the Comparion model in 2021. It is a countrywide community of unbiased insurance coverage businesses that promote insurance coverage merchandise from Liberty Mutual and different regional and nationwide insurance coverage corporations.

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