Liberty Mutual Home Insurance Review 2020

The industry has been familiar with Liberty Mutual for quite a long time. There are a lot of independent rating agencies that recognize this company in a positive way. The business credibility, financial solvency, and customer service standards are what set Liberty Mutual apart from other typical insurance companies across the states. The more interesting news is, this company was ranked 75th in the Fortune 100 list of largest companies in the U.S. based on 2018 revenue. 

There are a lot of discounts that come with Liberty Mutual. These discounts bundle with other insurance policies and financial incentives for purchasing newer homes. They also remain claim free for three years for around three years. Liberty Mutual also makes use of safety features such as alarm systems, and security cameras. If you can take advantage of the majority of these discounts, then the company’s homeowners policies are the most cost-effective ones for you. 

Liberty Mutual Home Insurance – Is It a Good Choice for Me?

The price of Liberty Mutual homeowners insurance policy depends on various factors. But, the homeowner can control only a few of them. Your location, age, and conditions are the factors that will play a huge role in minimizing the cost of the insurance. Keep in mind that older homes might need you to spend more bucks than a newer home. 

However, as a homeowner, you can take control of a few things, which is a good thing, indeed. If you want to save on the monthly premium for a policy, you should opt for a higher deductible. Besides, if you want to decrease the price, especially if you are already paying for those additional coverages separately, you should build a homeowners policy with auto, life, or other insurance policies. Safety devices such as smoke detectors, alarm systems, etc. are very essential to be installed at your home because these things can help you qualify for lower policy premiums than homeowners in comparable homes without those features. 

Customer Experience

The position of Liberty Mutual insurance company in the 2020 JD Power Property Claims Satisfaction Study was a bit lower than the average for overall customer satisfaction with its ability to handle claims quickly and easily. Generally, the average score roamed around 881 to 1000-point scale but Liberty Mutual could earn 887 which is slightly below the average. 

On the other hand, customers across the country do not tend to have a good relationship with Liberty Mutual as the company receives a lot of complaints – according to the NAIC Complaint Index. The more devastating news is, Liberty Mutual received almost four times the number of complaints expected in the market for 2019. There were 280 verified complaints against this insurance company. 94 of them were related to homeowners coverage, 167 of them were related to auto coverage, and the remaining 19 complaints revolved around the product lines. 

Before you secure a policy, you can have a good experience as the company has a lot of ways for you to obtain quotes and policy information. You can likewise use their mobile app for self-managed service. There is an online quote feature that helps you to shop at your convenience. The company also comes with toll-free customer support that helps you to speak with their agents without any mobile bills. Needless to say, chat and email support are always available through social media. There are free training classes on the website of Liberty Mutual. These classes cover a lot of topics of interest to homeowners. You can ultimately save money and avoid costly insurance claims by learning about convenient home improvement projects. 

Coverage

Liberty Mutual home homeowners insurance policy comes standard with a series of coverages. Below we talk about those coverages respectively:

  • Dwelling: If you want the company to cover your house damages along with the additional insured buildings on your property, you can go with this coverage. 
  • Personal Possessions: If you want to have a fair market value for any of your personal items which is damaged during a claim, this might be the right coverage for you. 
  • Liability: This coverage can save you from the claims of a third party who may be injured or have damage to their belongings while on your property. 
  • Additional Living Expenses: There are times when our living expenses increase due to a claim. In such a situation, this coverage comes in handy. 

If you want to add on coverage for water damage, you have to option to do that as well. There are times when water damages happen due to sewer or drain backups, for valuable items such as art or antiques, and inflation protection, which increases your coverage amount during each renewal period to keep up with cost of living increases. 

There are some other coverage lines that you can purchase such as umbrella policy to cover major claims, life insurance, flood insurance, pet insurance, identity theft protection, critical illness coverage, etc. 

Deals and Discounts

There are a few home insurance discounts that Liberty Mutual tend to offer to its customers. The discounts may include claims-free discounts and discounts for getting a quote with Liberty Mutual before your current policy expires. There are also discounts for you if you have a new or newly renovated home and home with new roofs. You can also receive significant savings with a lot of bundling discounts. 

Financial Strength, Availability, and History

The Group of Liberty Mutual was founded in 1912. Since then, they have been playing a significant role in the industry by providing insurance to property, casualty, and life insurance customers for over 100 years. Liberty Mutual has high ratings for its financial solvency. Moreover, those ratings are stable for the past 10 years. 

Over to You

Liberty Mutual can be an ideal choice for people in suburban and rural communities, who opt for buying newer homes and invest in security upgrades. When it comes The policy’s standard features provide strong protection in the event of a claim, and add-on coverages can help keep more affluent families well protected in a variety of situations. 

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