April 18, 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 automotive. 

However like every profitable, long-running firm, Liberty Mutual has advanced with the occasions. As we speak, it is the nation’s greatest automotive insurer (by written premium) and an organization that provides insurance coverage for vehicles, properties, companies, and extra. 

Liberty Mutual Auto Insurance coverage

Common annual price

$1,752

JD Energy Buyer Satisfaction

870 (11)

Execs:

  • Vast number of protection choices and reductions
  • Higher pricing than opponents in a number of classes
  • Potential 30% low cost by taking part in its RightTrack UBI program
  • A.M. Finest A score for monetary power

Cons:

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

TIME’S Take

With many decisions for automotive insurance coverage, it is typically tough to distinguish amongst corporations. However there are specific issues to search for: Coverages you want and choices that can help you customise a coverage. Reductions that can assist you get monetary savings. Extremely rated service. Excessive rankings for monetary power, so the corporate can be there if you want it. And, in fact, you need all of this at an affordable value. 

Liberty Mutual does not beat the competitors in each class. The truth is, a few of its claims and customer support rankings are regarding. However the firm does supply a variety of coverage choices and reductions on high of its very aggressive pricing. It is probably not the highest automotive insurance coverage firm on the market, however it’s an total sensible choice.

Liberty Mutual automotive insurance coverage: Execs and cons

Vast number of protection choices and reductions

Some states don’t look like served by an agent

Higher pricing than opponents in a number of classes

Middling claims and customer support rankings

Potential 30% low cost by taking part in its RightTrack UBI program

A.M. Finest A score for monetary power

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

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 obtainable 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 liable to car accidents. 

In the event you’re a teen, or a household who must insure one, verify Liberty Mutual. The corporate’s $2,604 annual premium for teenagers just 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 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 might also be an excellent 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 costs $1,656 in annual premium for a driver with a dashing ticket. That is the second most cost-effective in our evaluation, and $247 greater than the most cost effective premium. 

Extra about Liberty Mutual

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

Reductions

Liberty Mutual affords a variety of reductions that can assist you get monetary savings. In keeping with the corporate’s web site, they embody the next:

  • Declare-free.
  • Early shopper.
  • Good scholar.
  • Home-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 affords a UBI program. Known as RightTrack, this system advertises reductions of as much as 30% when you conform to share driving knowledge with the corporate, and that knowledge proves you exhibit secure driving habits.  

Protection choices

Liberty Mutual affords the coverages you’ll want to drive legally and shield your funding in your automobile. These embody legal responsibility, private harm safety, uninsured motorist, collision, and complete coverages. 

The corporate additionally affords a wide variety 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 components protection, rental reimbursement, and roadside help. 

Claims service rankings

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 research 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 rankings

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

The corporate’s client 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 can help you full a purchase order of the quoted coverage on-line. Liberty Mutual is one in all them, and we like that. 

The corporate additionally affords a community of native, impartial brokers, which is a plus when you favor 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, when you’re in one in all these states and need 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 buying and a below-average thirteenth for service. 

Monetary power

Liberty Mutual has an A score for monetary power from A.M. Finest. This implies you might be assured the corporate will pay claims and supply different providers if you want them essentially the most.

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

The place can you purchase Liberty Mutual?

Liberty Mutual automotive insurance coverage is accessible 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 kinds of insurance coverage

Liberty Mutual sells quite a lot of insurance coverage merchandise moreover automotive insurance coverage. In keeping with the corporate’s web site, insurance coverage choices embody:

Midsize and enormous enterprise

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

Backside line

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

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

Liberty Mutual Auto Insurance coverage

Common annual price

$1,752

JD Energy Buyer Satisfaction

870 (11)

Execs:

  • Vast number of protection choices and reductions
  • Higher pricing than opponents in a number of classes
  • Potential 30% low cost by taking part in its RightTrack UBI program
  • A.M. Finest A score for monetary power

Cons:

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

Ceaselessly requested questions (FAQs)

Who’s Liberty Mutual Insurance coverage?

Headquartered in Boston since 1912, Liberty Mutual is one in all America’s oldest insurance coverage corporations. The corporate as we speak affords 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 aspect of the 4 main corporations we reviewed, together with Allstate, Progressive, and State Farm. Liberty Mutual had the bottom price for teenagers, these aged 35-45, and people aged 60. It had the second-cheapest price for dashing tickets, and the third-cheapest price for DUI. In these final two classes, State Farm affords 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 specific insurance coverage firm is sweet at paying claims. We all know that Liberty Mutual has an A “Glorious” Monetary Energy Score from A.M. Finest. This implies the corporate is financially sound and will be capable of pay buyer claims. 

Nonetheless, professional rankings of the corporate’s claims service current a extra blended end result. 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. Nonetheless, you probably have a declare with Liberty Mutual, you should definitely 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.

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