Liberty Mutual Renters Insurance Review
Liberty Mutual is the fifth largest property insurer in the country and provides top-notch coverage on a wide range of risk incidents. Unlike Farmers Insurance, whose coverage is limited to only 19 states, Liberty Mutual offers renters insurance coverage nationwide. The property minimum for basic coverage is right around $15,000 while the maximum is $100,000. If this minimum is too high for your budget you may want to consider State Farm Insurance instead, because they feature the lowest one of any on our list ($2,000).
In terms of payout limits, Liberty Mutual includes computers, jewelry, silverware, and firearms, but not personal business property. Also, belongings that are off the premises are explicitly not covered in the renters agreement. One of the other convenient features is the online quote tool and renters coverage calculator which you can use to increase or reduce your premiums. For example, you can modify your coverage by adding to, or removing specific things like jewelry, identity theft, or computers. Due to these well-situated policy offerings, Liberty Mutual Insurance earned 3 out of 5 by J.D. Power & Associates.
Currently, the company has one of the most informative websites on insurance in general, and renters insurance in particular. The application process is not complicated by any means, and they have customer service representatives on staff ready to help you 24/7. What's more, they offer a variety of savings promotions including multi-policy, burglar, and fire alarm discounts. Like Allstate, you can manage your policy entirely online and request a quote with their handy quote tool. Need additional information regarding renters insurance? They've got a replete of helpful tools including a coverage calculator and a database of ways to reduce your rate. The downside is their premiums can be a bit pricey depending on where you live.
Liberty Mutual Renters Insurance Advantages
Nationwide coverage is one of the big assets with Liberty Mutual, because unlike some of the other major players in the industry, their services are available in all 50 states.
Deductibles can be as low as $100, and the maximum amount for personal coverage is up to $350,000.
Additional services to suit your personal needs can be added to your policy for the best coverage.
Liberty Mutual Renters Insurance Disadvantages
Liberty Mutual's high minimum of $15,000 is out of the price range for a lot of renters. Under their renter's insurance policies, personal business property is not covered, and your personal property is not covered off premises.
Liberty Mutual Renters Insurance Costs & Fees
Generally, this company offers competitive rates that often run on the higher side of average, although they advertise quotes as low as $12/ month. Deductibles range from $100 - $5,000. The $100 deductible is only applicable for Smartphone and computer coverage. Bundled insurance policies from Liberty Mutual are available, and they have the possibility of offering a discount on your services.
Liberty Mutual Renters Insurance Customer Support
There's "good customer service" and then there's Liberty Mutual, and from the satisfied results of their customers, it is definitely on another level of excellence.
Liberty Mutual Renters Insurance Tools & Apps
As an extremely tech-friendly company, Liberty Mutual aims to stay abreast with modern lifestyles.
There is also an online coverage calculator to help determine the amount of coverage needed based on values of possessions.Their online quote tool that offers a lot of customization, based on services needed, including personal property, computers, jewelry, and even identity theft.
If you need some quick help, their online chat is available for those looking for quotes or customer service. Liberty Mutual also offers a dynamic, highly functional app whose purpose is to assist you in managing your policies.
Liberty Mutual Renters Insurance Plans
Liberty Mutual offers great quality coverage for renters that is both reliable and trustworthy. It covers your possessions in the event of unforeseen events, and extends to cover your items that may be in your vehicle. If damage accidentally occurs to someone else's property or someone attempts to sue you for an injury they acquire on the property you are renting, your coverage will offer coverage up to the liability and medical payment limit.
There are also several available discounts including the multi-policy discount, the exclusive group discount and the claims-free savings discount. The Multi-Policy Discount is available when you insure both your vehicle and rental. The Exclusive Group Savings is available to those who are members of one of the 14,000 Liberty Mutual member groups. If it has been five years or longer since you last filed a claim with your previous insurance provider, you may be eligible through The Claims-Free Savings discount.
Additional coverage options are available for your Smartphone, home computer, and jewelry. Blanket coverage for jewelry is offered, and it provides $5,000 maximum of coverage for any and all of your jewelry items. Proof of value and documentation will be necessary should you file a claim.
Liberty Mutual Renters Insurance - Other Considerations
- Known for excellent service, coverage, and reliability, you can feel safe knowing you are covered by Liberty Mutual.
- It's a very tech-friendly, giving you a wide variety of tools to stay on top of your policy and your coverage.
- Affordable and versatile coverage gives you the ability to add on additional types of coverage to suit your personal needs.
- Home computer and Smartphone coverage is available with a $100 deductible.
- Coverage bundles are available if you use Liberty Mutual for both renters and auto insurance.
- Liability coverage is included, which is an added benefit to keep yourself protected.
Liberty Mutual Renters Insurance Review Recap
Liberty Mutual's renters insurance earns 4.5 stars. This Fortune 500 company has a strong financial standing, boasts an impressive A rating from A.M. Best, and provides impeccable customer service with affordable coverage options. Review the pros and cons once more before making a decision.
Liberty Mutual is one of the most trusted names in the industry of insurance, and they have received many top honors and high ratings for their excellence. They offer coverage that works for the needs of a great variety of renters, and offer a variety of tools that enable them to manage and maintain their insurance easily. The customer care is top-notch, the range of coverage is superior, and the ability to customize towards a great many different needs is exceptional. As far as renters insurance goes, Liberty Mutual is at the top of the game.