Liberty Mutual Auto Insurance Company Review
Liberty Mutual Auto Insurance Company is a solid option for anyone looking for auto insurance. Read this Liberty Mutual Auto Insurance Company review to better understand who Liberty Mutual is, and then decide if it may be a good fit for your auto insurance needs.
Automobiles are becoming increasingly common in the United States, and with them the number of companies willing to insure them is increasing. With so many clients in the market, there is no reason for auto insurance companies to slow down, and experts predict a steady increase in the number of clients in the market in the coming years. With the great diversity of clients in the market, it is impossible for one auto insurance company to get all the clients, and it is for this reason that there are many reputable insurance companies rather than just one. One of the most famous insurers in the United States is one called Liberty Mutual.
Liberty Mutual was founded on July 12, 1912 when the Massachusetts State Legislature passed a law requiring companies to protect their employers with employee compensation insurance. The company quickly gained fame and they launched their first advertising campaign five years later, in 1917. The company expanded so fast that in 1937 they expanded through all 48 states and in 1972 they passed the $ 2 billion mark in premiums. . Today they have spread throughout the United States (serving 42 states) and in other countries of the world. They are also ranked 95th on the Fortune 500 list of America’s largest corporations based on 2006 revenue, have assets estimated at $ 85.5 billion, and employ more than 40,000 people in some 900 offices around the world. In addition to auto insurance, the company offers homeowners insurance, workers’ compensation, multiple business perils, general liability, fire insurance, and group disability.
Liberty Mutual basically offers a policy called “Liberty Guard Auto Insurance”. This insurance plan covers everything from liability, comprehensive, collision, and theft; and they offer other additional services in case you want to add something else. The liability coverage in this policy pays for damages caused by an accident up to the policy limits and prevents you from being sued if the accident is your fault. Medical payments coverage is required in some states, but for the most part they are optional. They cover you after an accident and allow you to see a doctor if an injury occurs. Last but not least, the comprehensive and collision portion of your policy saves you a loss by covering the repairs your vehicle needs after an accident or if it is caused by fire, flood, etc. For a little more money, you can add towing and labor coverage should you need it at any time.
Liberty Mutual is also known for their discounts and money saving options that they offer to their members. Like all other auto insurance companies, their discounts vary by state, and what some members may find as money-saving options in one state may not literally exist for others in another state. Some of the discounts that Liberty Mutual Automobile Insurance Company offers include, but are not limited to, Accident Prevention Course, Anti-Lock Brakes, Anti-theft Devices, Mature Driver, Good Student, Multi-Car Policy, and Driver Training Discount. Apart from these discounts, the company allows the potential customer to know some of the basic money saving tips that are given to each of its members. Some of the advice given by Liberty Mutual is to make safety a top concern when buying your next vehicle. This is important because a car with more safety features will get you a lower rate because it will protect your diver better, not to mention that if you have more safety features, there is generally less to repair.
Other advice given includes considering a high deductible when it’s time to decide on an auto insurance plan. A higher deductible is good if you can afford it because it will give you lower monthly premiums. However, it is important to know that in the event of an accident you will have a greater degree of financial responsibility if your deductible is high. Last but not least, Liberty Mutual tells its drivers and anyone else considering getting auto insurance with them to keep a good driving record. The fewer violations a person has on their driving record, the lower their premium, and Liberty Mutual will reward these drivers with the best rates.
One last thing worth talking about with Liberty Mutual is their additional Personal Liability Protection (PIP) coverage. Liberty Mutual decided to establish this plan simply to allow its clients to protect themselves against potential cases in which they could be sued for millions of dollars. This coverage expands the range of personal injury coverage, protects a member from liability coverage caused by an accident, defends a member from claims and lawsuits, and pays for their defense anywhere in the world.
Liberty Mutual is a great insurance company for anyone looking for great service and low cost. AM Best gives them an A rating for their excellent customer service satisfaction and financial ratings; and they continue to grow excessively. With its different rates depending on the type of coverage, deductible and discounts; Liberty Mutual is a great option for anyone looking for a company with great financial stability and a national (as well as global) presence.