Does Liberty Mutual Have Good Customer Service?
It’s imperative to consider customer service when looking for the best renters insurance company. Your chosen carrier should provide you with quality service and follow through on claims quickly and fairly.
Liberty Mutual has a high customer service score from J.D. Power and financial stability rating from AM Best, making it a solid choice for renters insurance. Plus, it receives fewer complaints than the average insurer, according to the National Association of Insurance Commissioners (NAIC).
Customer Satisfaction Rating
J.D. Power gave Liberty Mutual a customer satisfaction score of 823 out of 1,000 — lower than the industry average of 848. The company placed seventh on the overall customer satisfaction index ranking for renters insurance. J.D. Power measured customer satisfaction by examining a company’s interaction, policy offerings, the price billing process, policy information and claims.
Financial Stability Rating
Liberty Mutual’s AM Best rating is an A, indicating its excellent ability to meet its ongoing insurance obligations to policyholders. AM Best is an organization that assigns insurers a financial strength rating, determined by how it can pay claims, debts and other financial obligations in a timely manner.
What to Expect From Liberty Mutual Renters Insurance
Having more detailed information about how to obtain a policy can make shopping for renters insurance easier. It can guide you on what you need to do, especially if you’re a first-time buyer. However, the process of obtaining information varies among insurers. MoneyGeek broke down the steps to acquire, manage and cancel a Liberty Mutual renters insurance policy.
Getting a quote
Liberty Mutual has an online tool that you can use to get personalized renters insurance quotes. You can also peruse the Liberty Mutual renters insurance quotes collected by MoneyGeek in the next section.
Customer support
To reach a customer service representative at Liberty Mutual, call its customer service line or send a message via text, email or social media.
Filing a claim
You can file a claim using Liberty Mutual’s website or mobile app.
Canceling your policy
You can cancel your Liberty Mutual renters insurance policy by calling 1-800-290-8711. From there, customer service experts help you through the entire process.
How Much Does Liberty Mutual’s Renters Insurance Cost?
On average, renters insurance costs $159 per year for $20,000 of personal property coverage. However, that rate can change depending on your chosen insurer.
For example, Liberty Mutual charges around $230 per year for a policy with a $20,000 personal property coverage limit, which is about $71 more expensive than the national average. Fortunately, you can take advantage of Liberty Mutual’s available discounts to lower the cost of renters insurance.
How much renters insurance costs heavily depends on the coverage limit you choose. You don’t want too much or too little coverage — $20,000 is a good starting point, but it’s still best to choose an amount that approximates the value of your property. You can use MoneyGeek’s personal property calculator to find out how much coverage you need.
What Discounts Does Liberty Mutual Offer?
Liberty Mutual offers five discounts, which is the industry average. When getting quotes for Liberty Mutual renters insurance, you can check if you can get a discount for being claims-free, bunding policies, buying a policy online, quoting in advance or setting up automatic payments. Most insurance companies offer these discounts.
Which Coverage Types Does Liberty Mutual Offer?
Coverage is a significant factor that affects the cost of renters insurance. Aside from the standard coverages, Liberty Mutual offers three optional coverages that you can add to your policy. Note, however, that this number is less than the industry average of seven coverages. As for coverage limits, Liberty Mutual has five options to choose from.
MoneyGeek included the three optional coverages offered by Liberty Mutual in our renters insurance review. They are blanket jewelry, personal property replacement cost and earthquake damage.
Blanket Jewelry
This optional coverage replaces your jewelry if it is lost or stolen, with no deductible or initial appraisal necessary.
Personal Property Replacement Cost
Liberty Mutual pays for the total cost of repair or replacement of damaged items with the cost of a brand new version in the event of a covered loss.
Earthquake Damage
If you live in an area that’s susceptible to earthquakes, this optional coverage can protect personal property in the event of an earthquake.
When you collect quotes for renters insurance, make sure to get the standard renters insurance coverages. These include personal property, personal liability, medical payments and additional living expenses coverage.
You can also purchase optional coverages like flood, earthquake or bed bugs, depending on your needs and situation. However, some are rarely offered. For example, Liberty Mutual does not have bed bug or flood coverage available.
What Online Renters Insurance Tools Does Liberty Mutual Offer?
Various online tools and features provided by a company can help improve the customer experience. Liberty Mutual has several tools that policyholders and those without a policy can use for free, including an online quote tool and mobile app.
You can visit Liberty Mutual’s website and use its online tool to get a personalized quote. You enter your ZIP code to begin.
Liberty Mutual has a mobile app that you can download to manage your policy, pay your bill or file a claim.
You can choose to pay by eCheck, credit or debit card online or by bank transfer.
Liberty Mutual allows you to pay your bill online with just your name and birthday or through its mobile app.
You can file your claim by logging in to your account or using the mobile app in less than 10 minutes.
Other Liberty Mutual Insurance Products
Aside from renters insurance, Liberty Mutual offers different insurance products, including auto insurance, business insurance, pet insurance and life insurance. Keep in mind that when you buy a renters insurance policy through Liberty Mutual, you can also purchase other products to get a multi-policy discount.
Methodology
To evaluate Liberty Mutual’s quality as a renters insurance company, MoneyGeek analyzed Liberty Mutual’s website, manually collected quotes and consulted consumer intelligence organizations such as J.D. Power, the NAIC and AM Best.
About Mark Fitzpatrick
sources
- J.D. Power. "Home Insurers Struggle with Customer Loyalty as Boomers Flock to Rental Market, J.D. Power Finds." Accessed April 5, 2022.
- NAIC. "Liberty Mut Personal Ins Co National Complaint Index Report." Accessed April 5, 2022.
- Liberty Mutual. "Financial Ratings." Accessed April 5, 2022.
- Liberty Mutual. "Renters Insurance." Accessed April 5, 2022.
- Liberty Mutual. "Renters insurance discounts." Accessed April 5, 2022.
- Liberty Mutual. "Browse renters coverage options." Accessed April 5, 2022.
- Liberty Mutual. "Cancelling your insurance policy." Accessed April 5, 2022.
- Liberty Mutual. "Claims Center." Accessed April 5, 2022.
- Liberty Mutual. "Get customer support now." Accessed April 5, 2022.
- Liberty Mutual. "Auto and Vehicle Insurance." Accessed April 5, 2022.
- Liberty Mutual. "Liberty Is Here For You." Accessed April 5, 2022.
- Liberty Mutual. "Life Insurance." Accessed April 5, 2022.
- Liberty Mutual. "Pet Insurance." Accessed April 5, 2022.