April 23, 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 instances. At the moment, it is the nation’s greatest automotive insurer (by written premium) and an organization that gives insurance coverage for automobiles, houses, companies, and extra. 

Liberty Mutual Auto Insurance coverage

Common annual charge

$1,752

JD Energy Buyer Satisfaction

870 (11)

Execs:

  • Huge choice of protection choices and reductions
  • Higher pricing than rivals in a number of classes
  • Potential 30% low cost by taking part in its RightTrack UBI program
  • A.M. Greatest A ranking for monetary energy

Cons:

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

TIME’S Take

With many selections for automotive insurance coverage, it is usually tough to distinguish amongst corporations. However there are specific issues to search for: Coverages you want and choices that permit you to customise a coverage. Reductions that will help you get monetary savings. Extremely rated service. Excessive rankings for monetary energy, so the corporate might be there if 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. Actually, a few of its claims and customer support rankings are regarding. However the firm does provide a variety of coverage choices and reductions on high of its very aggressive pricing. It might not be the highest automotive insurance coverage firm on the market, however it’s an total good selection.

Liberty Mutual automotive insurance coverage: Execs and cons

Huge choice of protection choices and reductions

Some states don’t seem like served by an agent

Higher pricing than rivals 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. Greatest A ranking for monetary energy

How Liberty Mutual’s automotive insurance coverage charges examine 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

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

How a lot does Liberty Mutual automotive insurance coverage price? 

Teenagers

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

Should you’re a teen, or a household who must insure one, test Liberty Mutual. The corporate’s $2,604 annual premium for teenagers shouldn’t be solely the bottom in our assessment, 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 important alternative for seniors. At $1,080, the corporate’s price for seniors is $40 lower than its closest competitor.  

DUI

A conviction for driving beneath 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 assessment. 

Rushing ticket

Liberty Mutual costs $1,656 in annual premium for a driver with a rushing ticket. That is the second most cost-effective in our assessment, and $247 greater than the most affordable 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, knowledgeable rankings, and extra. 

Reductions

Liberty Mutual presents a variety of reductions that will help you get monetary savings. In response to the corporate’s web site, they embrace the next:

  • Declare-free.
  • Early shopper.
  • Good pupil.
  • House 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. Referred to 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 protected driving habits.  

Protection choices

Liberty Mutual presents the coverages it is advisable drive legally and defend your funding in your car. These embrace legal responsibility, private damage safety, uninsured motorist, collision, and complete coverages. 

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

Claims service rankings

‌Liberty Mutual ranked eleventh nationally within the J.D. Energy 2022 U.S. Auto Insurance coverage Claims Satisfaction Examine. 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 nicely 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 response to clearsurance. Broadly utilized in many industries, NPS measures an organization primarily based on its clients’ chance of referring it to mates, household, or colleagues. A rating of over 50% is taken into account glorious. The insurance coverage trade common is 44%.

The corporate’s client 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 couple of specific firm. Liberty Mutual’s index is 2.46. Allstate, Progressive, and State Farm all have indexes beneath 1.0. 

Ease of use

Many automotive insurance coverage corporations provide on-line coverage quotes. Only some permit you to full a purchase order of the quoted coverage on-line. Liberty Mutual is one in all them, and we like that. 

The corporate additionally presents a community of native, impartial brokers, which is a plus when you choose extra steering when shopping for insurance coverage. Remember, although, that some states seem to have few or no Liberty Mutual company areas. So, when you’re in one in all these states and need to purchase a coverage, you might have no alternative however to do it on the firm’s web site.

‌Liberty Mutual’s digital experiences had blended ends in the J.D. Energy 2023 U.S. Insurance coverage Digital Expertise Examine. The corporate ranked fourth nationally for procuring and a below-average thirteenth for service. 

Monetary energy

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

A.M. Greatest is an impartial credit score and monetary ranking company specializing in the insurance coverage trade. Its monetary energy rankings show an organization’s skill to fulfill 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 automotive insurance coverage is obtainable 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 moreover automotive insurance coverage. In response to 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, widespread gross sales and repair options, and has demonstrated a excessive diploma of monetary energy. Nonetheless, a few of its rankings for claims and customer support are under the trade common. 

Nonetheless, the corporate matches up nicely with different suppliers in a crowded automotive insurance coverage market. You owe it to your self to test 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:

  • Huge choice of protection choices and reductions
  • Higher pricing than rivals in a number of classes
  • Potential 30% low cost by taking part in its RightTrack UBI program
  • A.M. Greatest A ranking for monetary energy

Cons:

  • Some states don’t seem 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 right this moment presents insurance coverage for automobiles, houses, powersports automobiles, 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 rushing tickets, and the third-cheapest charge for DUI. In these final two classes, State Farm presents the most affordable 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 nice at paying claims. We all know that Liberty Mutual has an A “Glorious” Monetary Energy Score from A.M. Greatest. This implies the corporate is financially sound and will be capable of pay buyer claims. 

Nonetheless, knowledgeable rankings of the corporate’s claims service current a extra blended end result. Crashnetwork provides 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, in case you have a declare with Liberty Mutual, be sure you be very proactive in following the claims consultant’s directions, offering all requested info, and heeding any deadlines. Do all you may to assist make sure the claims course of goes easily.

What’s Liberty Mutual Comparion?

Liberty Mutual launched the Comparion model in 2021. This can be a countrywide community of impartial insurance coverage companies that promote insurance coverage merchandise from Liberty Mutual and different regional and nationwide insurance coverage corporations.

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