Liberty Mutual Home Insurance Review 2024

Highlights

Liberty Mutual offers robust discounts for homeowners. Official complaint levels are low, but customer satisfaction scores indicate some unhappiness.

Pros

Variety of home insurance discounts, including price breaks for new homes, renovations, and online pay and purchase.
Good for those who want to manage policy and claims online, but also works for those who prefer talking to an agent.
Complaints about Liberty Mutual home insurance are below the industry average.

Cons

Lack of options for certain types of extras, such as increased dwelling coverage.
Below-average customer satisfaction score in J.D. Power’s 2022 U.S. Home Insurance Study.

Table of Contents

About Liberty Mutual Home Insurance

In business since 1912, Boston-based Liberty Mutual ranks as the third largest home insurance company in the U.S. based on market share. The company originally sold workers compensation insurance. It offered its first auto insurance policy in 1918.

Liberty Mutual ranked 71st on the Fortune 500 list of the largest corporations in the U.S. based on 2020 revenue. The company acquired Seattle-based insurer Safeco Insurance Co. in 2008.

Liberty Mutual’s home insurance includes the standard types of coverage you’d expect in a homeowners policy. Visit Forbes Advisor’s list of best home insurance companies if you aren’t seeing the coverage that fits your needs.

Dwelling and other structures coverage

Dwelling coverage pays to repair or rebuild your house and attached structures, like a garage or deck. Other structures coverage pays to repair or replace unattached structures on your property, like a barn or shed. Coverage generally includes damage caused by fire, wind, hail and vandalism, among other problems.

Personal property coverage

The personal property portion of a home insurance policy pays for damage or theft of your belongings, such as clothing, kitchenware and furniture. It’s important to note that the basic policy from Liberty Mutual reimburses actual cash value for your possessions, which takes depreciation into account.

Liability insurance

Liability home insurance pays for property damage and injuries you accidentally cause to others. For instance, if a visitor slips and falls on your icy sidewalk, liability insurance can pay the medical bills. Or if you hit a baseball through a neighbor’s window, it can pay for a new window. Liability insurance also covers legal bills if you’re sued because of an accident.

Additional living expenses

Additional living expenses coverage, also called loss of use coverage, pays for extra costs when you can’t live at home due to damage covered by the policy (such as a fire). Hotel bills and restaurant meals are examples of expenses that can be reimbursed.

Optional Liberty Mutual Coverage for Homeowners

Liberty Mutual sells a number of optional types of coverage that can be added to a homeowners insurance policy:

Replacement cost. This pays to replace your belongings with similar, new ones, if stolen or damaged by a problem covered by your policy. It’s smart to know the pros and cons of replacement cost versus actual cash value when choosing home insurance coverage.
Jewelry. This coverage replaces your jewelry if it is lost or stolen, without a deductible or an upfront appraisal.
Scheduled items. Scheduled personal property adds coverage to protect specific “scheduled” items, such as artwork. These are belongings that might need additional coverage because standard home insurance policy limits might not be sufficient.
Water backup. This covers damage caused by water backup and overflow from sewers, drains and sump pump wells.
Inflation protection. This automatically adjusts your coverage limits when your policy is renewed to keep pace with inflation. This coverage includes a policy discount.
Identity theft. This covers lost wages, legal fees and certain other expenses incurred if you’ve been the victim of identity theft.
Flood insurance. Standard home insurance policies don’t cover damage from flooding, so you need a separate policy. Liberty Mutual sells flood insurance in a partnership with the National Flood Insurance Program.

Liberty Mutual Home Insurance Discounts

Liberty Mutual offers an array of possible home insurance discounts.

Multi-policy. If you bundle your home and auto insurance policies at Liberty Mutual, you will score a discount.
Paperless. You can get a discount by signing up to get bills electronically rather than by regular mail.
Preferred payment. This discount gives you a break for enrolling in auto-pay through a linked bank account.
Claims-free. Liberty Mutual rewards you if you haven’t filed a claim with your previous home insurance company for at least five years.
Safe homeowner. If you go three years without filing a homeowners insurance claim, you qualify for a discount.
Early shopper. Receive this discount if you obtain a quote from Liberty Mutual before your current Liberty Mutual homeowners insurance policy expires.
Newly purchased home. Liberty Mutual gives a discount for coverage of a newly purchased home.
New or renovated home. If your home was “substantially” built recently or was renovated recently, you can qualify for a discount.
New roof. Installing a new roof may result in a discount.
Online purchase. You can get a 12% discount for buying your policy online, though availability varies by state.
Insured to value. Get this discount if you insure up to 100% of the cost to replace your home (as opposed to the home’s market value or sale price).
Affinity. If you’re a member of an organization that has partnered with Liberty Mutual, you can qualify for an affinity discount.

Liberty Mutual Complaint and Customer Satisfaction Comparison

Liberty Mutual and its subsidiary Safeco both have home insurance complaint levels below the industry average.

But both companies ranked below the industry average in J.D. Power’s 2022 U.S. Homeowners Insurance Study, which scores home insurance companies on a 1,000-point scale for customer satisfaction. Liberty Mutual placed 13th with a score of 805 and Safeco placed 12th with a score of 809 out of 19 companies analyzed.