Liberty Mutual Renters Insurance Review


Rating: 8.1 / 10 (Excellent)
Disclosure: We receive advertising revenue from some partners. 
Learn more.
Founded in Boston, Massachusetts in 1921, Liberty Mutual is a global property and casualty insurer offering private and commercial insurance solutions and related services in the United States, Canada, the Middle East, Latin America, Europe, and Asia. They currently offer several personal insurance options, including home, renters, condo, auto, motorcycle, life, and personal liability insurance.

How is Liberty Mutual rated?

Breakdown

9/10
Financial Strength
8/10
Coverage
8/10
Pricing & Discounts
7/10
Customer Experience

Overall Rating: 8.1 / 10 (Excellent)

As one of the five largest U.S. property and casualty insurers by market share, Liberty Mutual offers a broad range of reliable insurance solutions including affordable property insurance for both businesses and individuals. Their renters policy can be purchased for as little as $20 a month and includes personal property protection as well as liability coverage for accidents within the rental unit. Although they do not include a loss of use or living expenses component, their plans do offer protection against damage or theft for valuables such as smartphones, computers, and jewelry. While it does not feature all the bells and whistles other policies do, Liberty Mutual's renters insurance is a good, simple, item-centered policy from a well-known, financially stable insurance provider.

Liberty Mutual Coverage

Coverage - 8 / 10

Liberty Mutual markets two standard renters insurance coverages: a personal property protection coverage and a liability component. Their personal property protection option is intended to safeguard valuables, whether inside or outside the home, against events such as fire, theft, and vandalism, but not natural disasters like storms, floods, or earthquakes, inline with standard industry practices. Protection for high-cost items like computers, smartphones, and jewelry is not included under their standard coverages but under their "additional protection" plans, which come with an added price tag. Liberty Mutual does not state whether the personal property protection plan reimburses policyholders for the item's replacement cost or the actual cash value minus depreciation, but their website does explain both options in detail and it's quite possible they offer both solutions.
Basic Coverage
Personal Property
Personal Liability
Property Valuation Methods
Replacement Cost
Actual Cash Value

Exclusions

Damage from natural disasters like floods and earthquakes is not covered.

Pricing & Discounts

Pricing & Discounts - 8 / 10

Liberty Mutual only extends discounts for bundled policies, group memberships, and claim-free policies. The company states that their coverages can cost as little as $20 a month or about the same as a pizza delivery, but actual insurance premiums will vary depending on multiple factors, including the applicant's location, credit score, and selected deductible amount. Customers who want to find out more about renters insurance premiums can request a free, no-obligation online quote on their website.
Policy Discounts
Multi-Policy
Claim-Free

Customer Experience

Customer Experience - 7 / 10

Liberty Mutual has an A+ rating with the Better Business Bureau despite having mostly negative customer reviews. Data collected by the National Association of Insurance Commissioners (NAICS) reveals that Liberty Mutual received more complaints about their home insurance products in 2016 than other similar-sized companies. This information must be taken with a grain of salt, however, as larger insurers tend to receive many more complaints than smaller companies, and unsatisfied customers are much more likely to file complaints than satisfied ones. Liberty Mutual allows clients to file claims online at any time.

Customer Ratings

BBB Rating
A+
Number of BBB Positive Reviews
12
Number of BBB Neutral Reviews
3
Number of BBB Negative Reviews
223

National Association of Insurance Commissioners

NAICS Complaint Ratio 2016
12.77
NAICS Total Complaints 2016
90
*The NAICS complaint ratio (in this case 12.77) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Financial Strength Ratings

Financial Strength - 9 / 10

According to credit rating agencies A.M. Best, Moody's, and Standard & Poor's, Liberty Mutual enjoys an outstanding financial reputation as evidenced by A (Excellent) financial strength ratings and stable long-term outlooks from all three CRAs. Liberty Mutual remains one of the largest, most well-established insurers in the country, offering reliable insurance products and vast industry experience.
Underwriter
Liberty Mutual Holding Company, Inc.
Standard & Poor's Financial Rating
A
Moody's Financial Rating
A2
AM Best Financial Rating
A
Company Type
Underwriter
*The above information reflects the financial strength of the underwriter of the Liberty Mutual renters insurance policies: Liberty Mutual Holding Company, Inc..

Contact & Additional Information

Homepage URL
Company Phone
(800) 290-7841
Headquarters Address
175 Berkeley Street, Ninth Floor, Boston, MA
Year Founded
1912

Leave a comment for Liberty Mutual Renters Insurance
Minimum 2-3 sentences.
 No maximum length.
* What's Your Rating?
To make this comment as helpful as possible for our community, please provide at least 2 sentences.

Top Rated
Our Partner
10 / 10
  • Over 84 years of industry experience
  • Protect your belongings in & out of your apartment
  • As low as $4 a month if bundled
  • Covers fire, theft or vandalism
  • Offers guest injury protection
  • Get an online quote or talk to an agent