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 automotive.
However like all profitable, long-running firm, Liberty Mutual has developed with the instances. As we speak, it is the nation’s greatest automotive insurer (by written premium) and an organization that gives insurance coverage for vehicles, properties, companies, and extra.
Liberty Mutual Auto Insurance coverage
Common annual charge
$1,752
JD Energy Buyer Satisfaction
870 (11)
Execs:
- Large collection of protection choices and reductions
- Higher pricing than rivals in a number of classes
- Potential 30% low cost by collaborating in its RightTrack UBI program
- A.M. Finest A score for monetary energy
Cons:
- Some states don’t seem like served by an agent
- Middling claims and customer support scores
TIME’S Take
With many decisions for automotive insurance coverage, it is typically troublesome to distinguish amongst corporations. However there are particular issues to search for: Coverages you want and choices that will let you customise a coverage. Reductions that will help you get monetary savings. Extremely rated service. Excessive scores for monetary energy, so the corporate shall be there whenever you want it. And, in fact, you need all of this at an inexpensive value.
Liberty Mutual does not beat the competitors in each class. In actual fact, a few of its claims and customer support scores are regarding. However the firm does supply a variety of coverage choices and reductions on prime of its very aggressive pricing. It might not be the highest automotive insurance coverage firm on the market, however it’s an general sensible choice.
Liberty Mutual automotive insurance coverage: Execs and cons
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Large collection of protection choices and reductions |
Some states don’t seem like served by an agent |
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Higher pricing than rivals in a number of classes |
Middling claims and customer support scores |
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Potential 30% low cost by collaborating in its RightTrack UBI program |
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A.M. Finest A score for monetary energy |
How Liberty Mutual’s automotive insurance coverage charges evaluate to its rivals’
To find out Liberty Mutual’s worth competitiveness, we in contrast its charges to these of three different main automotive insurance coverage suppliers throughout 5 pricing classes.
Sources: WalletHub.com, USNews.com
Be aware: We gathered coverage pricing info from publicly accessible on-line sources and share it for informational functions solely. Your value might range dramatically from what’s proven right here.
How a lot does Liberty Mutual automotive insurance coverage value?
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.
For those who’re a teen, or a household who must insure one, verify Liberty Mutual. The corporate’s $2,604 annual premium for teenagers isn’t solely the bottom in our evaluation, but it surely’s $1,354 cheaper than the closest competitor. That’s additionally lower than one-third the price of the costliest 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 can also be a terrific alternative for seniors. At $1,080, the corporate’s value for seniors is $40 lower than its closest competitor.
DUI
A conviction for driving below the affect (DUI) can have an effect on your insurance coverage value. Liberty Mutual’s $2,328 annual premium for a DUI is the second highest of the businesses in our evaluation.
Rushing ticket
Liberty Mutual prices $1,656 in annual premium for a driver with a dashing ticket. That is the second least expensive in our evaluation, and $247 greater than the most cost effective premium.
Extra about Liberty Mutual
Value is simply one of many components you need to consider when searching for insurance coverage. Right here’s how Liberty Mutual does for product options, skilled rankings, and extra.
Reductions
Liberty Mutual provides a variety of reductions that will help you get monetary savings. In keeping with the corporate’s web site, they embody the next:
- Declare-free.
- Early shopper.
- Good pupil.
- House owner.
- Army.
- Multi-car.
- Multi-policy.
- On-line buy.
- Paperless.
- Scholar away at college.
- Utilization-based insurance coverage (UBI).
- Violation-free.
Like many different main insurance coverage corporations, Liberty Mutual provides a UBI program. Referred to as RightTrack, this system advertises reductions of as much as 30% if you happen to comply with share driving knowledge with the corporate, and that knowledge proves you exhibit protected driving habits.
Protection choices
Liberty Mutual provides the coverages you could drive legally and shield your funding in your automobile. These embody legal responsibility, private damage safety, uninsured motorist, collision, and complete coverages.
The corporate additionally provides a wide selection of further coverages to customise a coverage. In keeping with the Liberty Mutual web site, these choices embody accident forgiveness, higher automotive substitute, deductible financial savings fund, hole, OEM elements 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 obtained a D+ grade within the Crash Community Insurer Report Card. This grade displays how effectively 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% Web Promoter Rating (NPS), in line with \[clearsurance](https://clearsurance.com/weblog/nps-insurance-companies). Extensively 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 grievance 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 below 1.0.
Ease of use
Many automotive insurance coverage corporations supply on-line coverage quotes. Only some will let you full a purchase order of the quoted coverage on-line. Liberty Mutual is considered one of them, and we like that.
The corporate additionally provides a community of native, impartial brokers, which is a plus if you happen to want extra steering 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 considered one 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 combined ends in 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 energy
Liberty Mutual has an A score for monetary energy from A.M. Finest. This implies you will be assured the corporate will pay claims and supply different providers whenever you want them probably the most.
A.M. Finest is an impartial credit score and monetary score company specializing in the insurance coverage trade. Its monetary energy scores reveal an organization’s means to fulfill its monetary obligations, reminiscent of claims payouts. It charges corporations on a scale from A++ (Superior) to D (Poor). Liberty Mutual’s A score is labeled as “Wonderful,” and is the second highest on the dimensions.
The place can you purchase Liberty Mutual?
Liberty Mutual automotive insurance coverage is offered 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 automotive insurance coverage. In keeping with the corporate’s web site, insurance coverage choices embody:
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Midsize and huge enterprise |
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*In partnership with the Nationwide Flood Insurance coverage Program (NFIP)
Backside line
Liberty Mutual is a little bit of a combined bag. It provides low pricing plus a variety of reductions, quite a few protection choices, common gross sales and repair options, and has demonstrated a excessive diploma of economic energy. Nonetheless, a few of its scores for claims and customer support are under the trade common.
Nonetheless, the corporate matches up effectively with different suppliers in a crowded automotive 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:
- Large collection of protection choices and reductions
- Higher pricing than rivals in a number of classes
- Potential 30% low cost by collaborating in its RightTrack UBI program
- A.M. Finest A score for monetary energy
Cons:
- Some states don’t seem like served by an agent
- Middling claims and customer support scores
Continuously requested questions (FAQs)
Who’s Liberty Mutual Insurance coverage?
Headquartered in Boston since 1912, Liberty Mutual is considered one of America’s oldest insurance coverage corporations. The corporate in the present day provides insurance coverage for vehicles, properties, powersports autos, and companies, amongst different classes.
Who’s cheaper than Liberty Mutual?
Liberty Mutual automotive insurance coverage is on the cheaper facet 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 dashing tickets, and the third-cheapest charge for DUI. In these final two classes, State Farm provides the most cost effective charges.
Is Liberty Mutual good at paying claims?
It is difficult to offer a easy reply as to whether or not a specific insurance coverage firm is sweet at paying claims. We all know that Liberty Mutual has an A “Wonderful” Monetary Power Score from A.M. Finest. This implies the corporate is financially sound and will be capable of pay buyer claims.
Nonetheless, skilled scores of the corporate’s claims service current a extra combined consequence. 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 Research.
These outcomes do not essentially have to dissuade you from selecting Liberty Mutual. Nonetheless, when you have a declare with Liberty Mutual, make sure to be very proactive in following the claims consultant’s directions, offering all requested info, and heeding any deadlines. Do all you’ll be able to 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 impartial insurance coverage businesses that promote insurance coverage merchandise from Liberty Mutual and different regional and nationwide insurance coverage corporations.