Liberty Mutual Auto Insurance Review


What makes a good auto insurance policy? Is it the price or the coverage?

Do you want quick claims or great customer service?

How do you know if you’ve got the best policy for you?

These are all questions we hear every day.

Everyone knows they are required to hold an auto insurance policy, but most people don’t know how to get a plan tailored for them.

At InsuranceScored, we want to take away all the confusion and mystery surrounding auto insurance and get each of our clients an affordable policy that can protect them.

With this article, we are going to explore the history of Liberty Mutual, the plans they sell, and how they stack up against the competition.

History of Liberty Mutual

Liberty Mutual Insurance LogoWith over a 100 years in business, Liberty Mutual has a rich history of providing insurance.

Liberty Mutual’s roots began in 1911, when the state of Massachusetts passed a law which required businesses to cover their employees with workers’ compensation insurance.

As a result of this act, the Massachusetts Employees’ Insurance Association (MEIA) was created in 1912.

Because they were a mutual company, they were owned by the customers (and they still are today).

Fast forward to 1917, when MEIA decided to change the name of the company to Liberty Mutual Insurance Company.

At the same time, they started offering auto insurance coverage.

By 1937, the company was selling insurance to all of the 48 states in the U.S. at the time.

A few years later in 1941 (during World War II), they were the leading issuer of contracts for those overseas.

Another 20 years later, Liberty Mutual Insurance Company started selling life insurance through their LIberty Life Branch.

In the early 2000s, they converted the company to their current mutual holding style.

Liberty Mutual now has offices all across the world, including Asia, South America, and Europe.

And the company has become the sixth largest auto insurance provider.

Liberty Mutual Auto Insurance

Liberty Mutual offers plenty of options for auto insurance coverage.

If you head over to their auto insurance page, you’re going to see a well-designed graphic to help you understand the coverage.

They allow you to browse their coverage options and add-ons based on what they cover.

You can see the categories based on what covers you, what covers others, and what covers your car.

It’s a simple, user-friendly way to get a grasp on what your auto insurance plan actually does.

Here’s a rundown of some of Liberty Mutual’s features:

  • With the “standard” Liberty Mutual plan, you’re going to get quality coverage for injury liability, property damage, and medical payments.
  • The company also has 24/7 customer service, a 12-month rate lock, and a Lifetime Repair Guarantee.
  • If you want to get some more coverage, they have several add-ons you can tack onto your auto insurance plan.
  • They have better car replacement, rental car reimbursement, new car replacement, and much more. If you’re looking to beef up the traditional car insurance policy, Liberty Mutual gives you the options.
  • One unique feature of Liberty Mutual is the Deductible Fund they offer to customers. If you decide to enroll in their Deductible Fund, they are going to contribute to your deductible every year.

Deductible Fund

First things first, a deductible is the amount of money you have to pay before your insurance coverage kicks in.

Your deductible could be $500, $1,000, or more.

With the Deductible Fund, you basically get a savings account.

You put money in every month when you make your payments, and then if you need to pay a deductible, it comes out of this account, not out-of-pocket.

Here is the best part: if you enroll in the program, you’re going to save money.

The first year, if you put in $30, they will put in $70.

Every year you don’t make a claim and pay a deductible, you’re going to put in another $100.

Eventually, you’ll have $500 saved up, which means you wouldn’t have to pay a dime for a deductible. Even after you hit the $500 deductible savings amount, you’ll continue to save $100 every year.

There is no limit on how much you can have stashed away, and the money is never going to expire!

ByMile Car Insurance

Liberty Mutual is trying to change the way people buy auto insurance.

They have created a unique way of selling auto insurance.

If you sign up for the ByMile program, then you’re going to pay a base rate and then you pay for every mile you drive.

The amount you pay per mile is determined by how far your drive.

It’s as simple as downloading the app or plugging in the ByMile tool.

After that, it will track how far you drive, and you pay based on those miles.

Auto Insurance Discounts from Liberty Mutual

Like most carriers, Liberty Mutual has several discounts you can take advantage of.

It’s a simple way to save money on your monthly premiums.

You can get a discount for having several cars, being a safe driver, being a student, having an electric or hybrid car, being newly married, and more.

To save money, you just have to give them a call, provide some proof, and then enjoy the savings.

Extra Protection for Teachers

If you’re a teacher, you’re going to love this next part. Liberty Mutual offers additional auto insurance coverage for teachers at no additional cost.

Here is what you’ll get if you’re a teacher:

  • Vandalism Loss Protection
  • Personal Property protection for your teaching material/equipment
  • Collision coverage if you’re because of work

You don’t have to pay any for this coverage, and you’ll also get a discount on your auto insurance and home insurance.

Other Insurance Products Sold by Liberty Mutual

Auto insurance is not the only coverage Liberty Mutual sells.

As a company who has been around for a long time, they have created dozens of types of plans for you to choose from to protect every area of your life.

Their other most popular insurance product is homeowners insurance, and Liberty Mutual tends to have affordable rates for their homeowner’s insurance.

They also sell:

  • Life insurance
  • Renters insurance
  • Motorcycle insurance
  • Condo insurance
  • Boat insurance
  • RV insurance
  • Pet insurance
  • Umbrella insurance
  • Critical illness insurance
  • And more

Final Verdict on Liberty Mutual

When you’re shopping for insurance, regardless of what type, you need to find the carrier best for you.

As far as price goes, Liberty Mutual is not always the cheapest, but they offer enough discounts to offset the higher premiums.

How do you know if Liberty Mutual is a good company for you?

You need to see how many of the discounts you’ll be able to get.

One common praise of Liberty Mutual is their customer service.

If you comb through the reviews from customers, you’ll see the majority of people are very happy with the customer service.

Yes, everyone has different experiences, but in general, their customers are very happy.

Bottom Line

Before you buy insurance from ANY carrier, you need to do some shopping.

Buying insurance is like buying a car.

You need to check out all the benefits, the reviews, and the competitors to see if you can get a better price.

You wouldn’t buy a car without checking out other vehicles, why would you with your insurance plan?

At InsuranceScored.com, we can help make this process much quicker.

We would be happy to answer questions you have about auto insurance or do the shopping for you.

We will gather rates and show you the best plans for you.

Ready to get started?

Go ahead and give us a call!

 

About InsuranceScored.com
About InsuranceScored.com

Susan Wright, CLU, ChFC, RHU, REBC, ADPA, CITRMS, CIPA has been in the insurance and financial field for over 27 years. Even with years of experience, she continues to create new resources for others. Everything from books to training material.

Susan received her MBA from St. Louis University and her BA from Michigan State University.

She has worked in several areas but excels in writing material for both finances and insurance. Her goal is to give professionals credibility and assist in streamlining the sales process.

She has written countless articles for a variety of websites.

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