Is It Worth Your Money? Our Quick Liberty Mutual Review

If you’re looking for a Liberty Mutual Review, you’ve come to the right place. Liberty Mutual is one of the top insurance companies around.

From its humble beginnings, Liberty Mutual has grown into multiple entities and ranks #68 on the Fortune 500

If your company needs insurance, keep reading to learn the types of business insurance to consider and how Liberty Mutual can help you.

What Types of Insurance Does Your Business Need?

Do you need insurance? Well, here’s how you can answer that question. What would happen if you lost your business? What would happen if you had a serious data breach? What would happen if a key person left your organization?

If you answered that your income would dry up and your life would fall apart, you need to have business insurance. Here are the most common types of business insurance you can consider for your business.

Business Auto Insurance

This may be necessary if you have company cars your employees use. They need to have adequate coverage.

If your employees drive their own cars for work-related activities, they should have their own policies to cover them.

Professional Liability

The needs of your business will largely depend on your industry. Professional liability is also known as E&O insurance.

This will cover you in the event that you didn’t uphold your end of a contract or somehow harmed a client if you failed in your contractual duties.

Cyber Security Insurance

Every day, small businesses are slammed with cyber attacks. Don’t let your business lose opportunities and productivity because you got hacked.

Business Owner’s Policy

A business owner’s policy bundles several insurance products into one policy. Which policies are included will depend on your needs. Expect to see liability, property, auto, and business interruption included.

Home Based Business Insurance

Home-based businesses need insurance, too. You’ll need to cover your business and inventory in case anything should happen. Your homeowner’s policy won’t cover it.

What About Personal Insurance Needs?

One the personal side, you’ll need to have insurance for your home and vehicle. Life insurance is also a smart insurance policy to have, too along with pet insurance. It can help cover your pet in emergencies and can help defray large vet bills.

If you have a pet, you can get your small member of the family insured through Liberty Mutual, too.

Liberty Mutual Review

Now that you know what types of insurance are important for your business, how does Liberty Mutual fare? Let’s take a closer look in this Liberty Mutual review.

The great thing about Liberty Mutual is you can get your business needs met and get personal insurance with the same company.

Even though you have the convenience of having all your insurance needs met by one company, how does Liberty Mutual compare to the other insurance companies out there?

Legal Structure of Liberty Mutual

To understand the coverage policies Liberty Mutual provides, you should understand the structure of the company. Some type of policies are provided by different subsidiaries within the Liberty Mutual Family. 

At the very top of the organizational structure is the Liberty Mutual Holding Company. Under that, there are two other companies: LMHC Massachusetts Holding Inc. and Liberty Mutual Group.

Within the Liberty Mutual Group, you’ll find several companies. Liberty Corporate Services, LLC, Liberty Mutual Insurance Company, Liberty Mutual Fire Insurance Company, and Employers Insurance Company of Wausau.

Depending on the policies you get from Liberty Mutual, they may technically be from different companies under the Liberty Mutual umbrella.  

Types of Insurance from Liberty Mutual

Liberty Mutual offers policies for just about any insurance need.

On the personal side, you can get homeowner’s, renter’s, life, and auto insurance. You can even get your pet insured by Liberty Mutual.

On the business side, the insurance offerings are just as robust. Liberty Mutual covers General Liability, Business Owner’s Insurance, Worker’s Comp, Property, Auto, Equipment, and more.

If you don’t think you can get cyber insurance through Liberty Mutual, think again. Liberty Mutual not offers LIU Data Insure through Liberty International Underwriters.

Not only do you have a full suite of insurance policies from Liberty Mutual, but they specialize in different industries, too. Whether you’re in the financial or fitness industries or anything in between, Liberty Mutual has you covered.  

Customer Service

Liberty Mutual ranks high for customer service, according to J.D. Power’s automotive insurance study.

Where Liberty Mutual excels is online. The website is accessible and customers can find everything they need there. If you do need to call Liberty Mutual for any reason, they are available.

Liberty Mutual also ranks highly for having a local agent available. You can always connect with them if you have any issues with your policy.  

Affordability

For most people, the big deal breaker for insurance depends on price. How affordable are Liberty Mutual’s plans compared to everyone else?

J.D Power ranks Liberty Mutual as average in this category for auto insurance. Most plans are very affordable, but there are a lot of variables at work.

You may find that for some policies, Liberty Mutual beats the competition, while other policies cost a bit more. You can always ask for a multi-policy discount, too. This can lower your costs.

The Final Assessment

As far as the quality of insurance you’ll get from Liberty Mutual, you’ll find a broad range of policies which can fill any insurance need. You won’t have to jump from company to company.

The customer service is top-notch and the policies are affordable, especially when compared to some of the competition.

Overall, getting your Insurance from Liberty Mutual is a safe bet. You can find out more here if you need to shop around for insurance policies from Liberty Mutual.

Make Sure You’re Covered

You’ve worked hard to build your business. All it takes is one small accident or mistake for it all to come crashing down if you don’t have the proper coverage.

Having insurance on your business and personal affairs can give you peace of mind and protect your most important asset. That’s why reading a Liberty Mutual review such as this is important. 

Looking for more great business tips directly from other entrepreneurs? Check out the small business forum today.

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