Have you ever been in a position where you had an automobile problem, such as running over some road debris and getting a flat tire? You contacted the auto insurance company with which you had registered, but no assistance was provided.
However, you can now relax because Liberty Mutual Auto Insurance is a firm with which you will have a pleasant experience.
When it comes to auto insurance, Liberty Mutual is one of the best, offering a wide range of personal and commercial insurance coverage.
Also, they provide a lengthy range of discounts and comprehensive digital tools on their website and app. There are also many coverages and discount choices.
The Liberty Mutual mobile app allows you to track claims, pay bills, and read policy documentation while on the go.
The accident and roadside assistance feature allows you to take notes and images at the scene of an accident, as well as contact emergency roadside assistance. Etc.
So, read on to learn more about liberty mutual auto insurance reviews, its benefits and drawbacks, and if it is a scam or not.
What Is a Mutual Insurance Company?
A mutual insurance company is one in which policyholders own 100% of the company.
A mutual insurance company’s primary goal is to offer insurance coverage to its members and policyholders, and members have the opportunity to choose management.
Furthermore, these insurance companies invest in portfolios in the same way that normal mutual funds do, with any gains distributed to members as dividends or premium reductions.
Whether an insurer can be designated as a mutual insurance company is determined by federal law rather than state law.
About Mutual Auto Insurance Review?
According to Wikipedia, Liberty Mutual Group is an American diversified worldwide insurer that is the country’s third-largest property and casualty insurer and the nation’s sixth-largest car insurer based on direct premiums written.
It employs approximately 45,000 people in over 900 sites across the world and is headquartered in Boston, Massachusetts.
Liberty Mutual Insurance has $145.377 billion in assets, $119.420 billion in liabilities, and $43.796 billion in annual consolidated revenue as of December 31, 2020.
Personal automobile, homeowners, workers’ compensation, commercial multiple peril, commercial car, general liability, global specialty, group disability, fire insurance, and surety are among the goods and services offered by the company, which was formed in 1912.
Furthermore, Liberty Mutual Insurance has committed to delivering a broad range of useful and reasonably priced insurance products and services to fulfill the ever-changing demands of its consumers.
How Does Liberty Mutual Auto Insurance Works?
A mutual insurance firm provides insurance coverage at or near cost to its members and policyholders. Profits from premiums and investments are paid to members as dividends or premium reductions.
You can read this: The Importance of Business Credit Insurance
Mutual Auto Insurance Reviews: Auto Insurance Coverage and Policies
It’s critical to know what car insurance coverage you want and what you’re required to acquire while shopping for car insurance.
To operate a car in most jurisdictions, you must have auto insurance, while minimum coverage requirements vary by state.
This usually covers liability insurance as well as coverage for uninsured and underinsured motorists.
Full coverage insurance may be of interest if you desire extra safety. Full coverage is a combination of coverage categories such as liability, collision, and comprehensive insurance, rather than a single policy.
However, the most popular types of auto insurance coverage and how they work are listed below.
|Coverage type||What it pays for||Required?|
|Bodily injury and property damage liability||Costs for injuries, deaths, or property damage from an accident you caused.||Typically required.|
|Uninsured or underinsured motorist coverage||Medical and property damage costs after an accident with a driver who has insufficient insurance or none at all.||Often required.|
|Collision coverage||Repair expenses from traffic-related accidents, regardless of who’s at fault.||A car loan or lease may require it.|
|Comprehensive coverage||Repair costs from events outside of your control — including weather events, hitting an animal while driving, theft, and vandalism.||A car loan or lease may require it.|
Liberty Mutual Standard Auto Policies
Standard auto policies from Liberty Mutual can be supplemented with a variety of supplementary coverages, including:
1. Forgiveness for accidents.
If you have had no crashes or traffic offenses in the previous five years, your premium won’t go up because of your first accident. This coverage is not accessible in California, and it may differ from state to state.
2. Replacement of a new car.
If your automobile is totaled within the first model year and 15,000 miles of ownership, you will be refunded the full cost of a replacement car, not just the depreciated value.
3. Better car replacement.
If your automobile is totaled at any age or mileage, you’ll get reimbursed for a car that’s one year younger and has 15,000 fewer miles on it than your totaled car.
4. Deductible fund.
Liberty Mutual provides a “fund” to lessen your collision deductible when you add this feature to your insurance. Each year, the insurer gives $70 and you contribute $30.
5: Gap insurance.
Gap insurance can cover the difference if your car is totaled and you owe more on your loan or lease than it is worth.
Liberty Mutual Teacher’s Car Insurance
Liberty Mutual’s Teachers’ Auto Insurance is a one-of-a-kind product. Although it may not be available where you live, they provide it free of charge to teachers and include the following:
1. Protection against vandalism.
If your vehicle is vandalized on school premises or during school-related events, there is no deductible. (In Pennsylvania, there is a $100 deductible.)
2. Personal property coverage.
If your teaching materials or school-owned property are stolen or damaged while in your vehicle, Liberty Mutual will reimburse you up to $2,500 per occurrence.
3. Collision coverage.
If your car is damaged in an accident while being driven on school business, there is no deductible. (In Pennsylvania, there is a $100 deductible.)
Liberty Mutual’s Auto Insurance Discounts
Although Liberty Mutual’s discounts differ by state, there is a vast list of possible price cuts. You may be eligible for discounts on the following items:
- Owning a home.
- Being an active, retired or reserve member of the U.S. military.
- Getting a Liberty Mutual quote before your current policy expires.
- For students, earning good grades or leaving the car at home while living away at school.
- Driving a hybrid or electric car.
- Having safety features like anti-lock brakes, adaptive headlights and anti-theft devices.
- Avoiding accidents and traffic violations.
- Insuring multiple cars.
- Having more than one Liberty Mutual policy, such as bundling home and auto coverage.
- Paying your full premium up front or enrolling in automatic payments.
- Buying a policy online.
- Receiving paperwork electronically.
- Being affiliated with certain employers, alumni associations or professional groups.
- Being a new Liberty Mutual customer.
Liberty Mutual Auto Insurance Review: Pros and Cons
|Many types of coverage are available||More auto insurance complaints to state regulators than expected for its size|
|Lots of discounts for auto and home insurance||Customer Satisfaction ratings are below average.|
|Robust digital tools||Expensive premiums for teen drivers — surpassing the national average rate for teens|
How Much Does Liberty Mutual Car Insurance Cost?
We looked at Liberty Mutual’s average prices and how they compare to other insurers and the national average.
As a result, the average monthly cost is $371, with an annual cost of $4,450.
Also, check this: Gap Insurance Refund Definition: How it Works in 2022
Why is Liberty Mutual Auto Insurance so Expensive?
Liberty Mutual is costly due to the elements it considers when estimating risk, which differ from each insurer. Driver history, location, and car model, and year are all things to consider.
Liberty Mutual Auto Insurance Reviews: Is it Legit or Scam?
Liberty Mutual auto insurance received 4.5 out of 5 stars based on customer evaluations and overall performance.
Pricing and discounts, the convenience of making a claim, website transparency, financial strength, complaint statistics from the National Association of Insurance Commissioners, and more are all factors in the grading formula.
NerdWallet has named Liberty Mutual as one of the Best Car Insurance Companies for 2021.
According to The Zebra’s customer satisfaction study, liberty mutual auto insurance received a 4.2 out of 5 ratings.
Furthermore, Liberty Mutual has a strong financial strength rating, indicating that you won’t have to worry about the company’s ability to pay out insurance claims.
Liberty Mutual Auto Insurance Reviews
From the official website, here are some Liberty mutual auto insurance reviews from their customers
Liberty Mutual is a transparent, flexible, and innovative insurance company. I have had an auto policy with them for well over 10 years. During that time, I can not think of any negative experiences. They have always treated me with professional courtesy and respect as a customer.
They have also been flexible with payments in times of need (pandemic). I plan on continuing my service with them for years to come. I love the fact that they are affordable, competent, and they care about their customers.
Liberty Mutual was great and still is great. They had great affordable policies and great customer service. “Daniel_T_Adam”
Amazing company! Great rates and always has fast, helpful customer service. I don’t make much money, but liberty mutual had a policy that fit my budget. I recommend. “Kasey”
I have been with them for years. They have always given prompt and fair claims service. I had a claim last winter, and they took care of me, including the rental vehicle. “Dave from Bridgeport.”
Liberty Mutual has been providing auto insurance for almost a century. So, whether you need inexpensive, reasonable auto insurance or complete, comprehensive coverage, they can tailor a policy to meet your specific needs.
They recognize that as your life changes, so will your policy, which is why we provide personalized service and digital tools to assist our customers in selecting (and using) their insurance.
Visit Liberty Mutual’s official website to learn more about our auto coverage, discounts, and what they can provide you.