Liberty Mutual Renters Insurance Review: Pros & Cons, Pricing, and Features

Studenomics Score:  4.5 Out of 5 Stars

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Who is Liberty Mutual Insurance?

Liberty Mutual Insurance has been around since 1912. They rank 75th on the Fortune 100 list of the largest corporations in America (based on 2018 revenue).

Liberty Mutual offers a variety of insurance products (home, life, auto, etc.) with 45,000 employees around the world. In 2019, they had a revenue of $43.228 billion.

We're going to be focusing on the renter's insurance offered by Liberty Mutual today...

How Does Liberty Mutual Renters Insurance Work?

Liberty Mutual offers insurance just like most other companies in the field. You can sign up for a policy online in minutes and be instantly protected.

You go through the website to find a quote. They then ask you a series of questions to help figure out more about your situation.

They prompt with questions about your situation to help you land discounts. Then you get your Liberty Mutual Renters Insurance quote. From there, you can sign up and get started.

We're going to breakdown the renters insurance coverage, quotes, and everything else that you could possibly want to know about Liberty Mutual.

Is Liberty Mutual Renters Insurance Good? 

Is Liberty Mutual good Renters Insurance? We played around with the interface and looked through reviews to see what regular folks had to say about this company.

We were mostly impressed by the discounts and the detailed website.

The official website explains everything that you could want to know about renter's insurance and your policy. This level of transparency isn't always there with other insurance companies.

This graphic below explains your renters coverage options.

Is Liberty Mutual Renters Insurance legit?

We make it a priority to conduct a deep dive investigation on every renter’s insurance company that we review on Studenomics. 

We’ve concluded that Liberty Mutual is legit insurance. From the discounts to the coverage, you can't go wrong.

Here's one review from the BBB website that stuck out to us during our research.

We always look at the cost of a renters insurance policy to ensure that you’re not overpaying since we realize how sensitive price can be these days with everything that’s going on in the world.

We looked through dozens of renters' insurance quotes so that you don't have to.

How Much Is Liberty Mutual Renters Insurance?

Liberty Mutual claims that they offer low insurance products. Our research has found that an average renter’s insurance policy will cost about $16/month.

So we looked through quotes.

One thing that we were pleasantly surprised by were the many opportunities to earn a discount.

Here are a few questions that you’ll be asked when you look for an online quote with Liberty Mutual:

• What type of building is the unit in?
• How many people live there?
• Is the unit in a secured/gated community?
• Are there any animals?
• How long have you lived there?
• Your insurance history.

Here’s how you can get a discount with Liberty Mutal Renters Insurance:

• Claims-free.

• Early shopper discount.

• Multi-policy discount.

• Preferred payment discount.

• Online purchase discount.

We then played around with the quotes to see how the pricing changes.

You can raise your deductible to $5,000 and your policy rate goes down in half. 

Deductibles range from $100 to $5,000. The higher your deductible, the lower your monthly rate. On the flip side, a lower deductible 

Liberty Mutual Renters Insurance Quotes.

We shopped around for quotes to determine exactly how much the policy would cost you.

San Francisco: with just one discount. $12.58/month gets you $20,000 in personal property coverage and $4,000 in temporary living expenses.

Keep in mind that we found that Liberty Mutual Renters Insurance quote with zero discounts. As mentioned above, there are many opprotunities to earn a discount to drive your price down. 

Is Liberty Mutual Worth The Cost?

You get your money's worth with Liberty Mutual because you can easily find a renter's insurance policy that fits your budget and your lifestyle.

You can customize your policy until you find one that you can afford.  You can also attempt to apply for a variety of discounts.

You can always look for a cheaper alternative if you're willing to look around for quotes. 

Can I Bundle My Liberty Mutual Renters Insurance With My Auto Insurance?

The good news is that Liberty Mutual encourages you to bundle your insurance packages. They want you to bundle so that you can save money.

We looked through Glassdoor, BBB, and Reddit to see what regular people had to say about Liberty Mutual Insurance. In our experience, these are the best indicators of how a company actually operates. 

Notable Quote From The Simple Dollar About Liberty Mutual Renters Insurance:

"While Liberty Mutual’s standard renters insurance policies offer basic coverages, the discount programs exceed most other insurance companies. If a standard policy doesn’t fit your needs, Liberty Mutual has a few options such as earthquake, jewelry and replacement cost coverages to provide more comprehensive protection."

How Do You File a Liberty Mutual Renters Insurance Claim?

Let's say that something happens and you have to file a claim, how do yu go about this?

It turns out that Liberty Mutual has an online claims centre where you can digitally file claims 24/7. They claim that the entire process should take less than 10 minutes. You can also track your claim online to see what the status is.

What do you need to file an insurance claim?

• Username/password to login.
• The date of the incident.
• Genetal details of what happened.

Liberty Mutual Renters Insurance also goes above and beyond to explain the process of filing a claim. This graphic below illustrates what we mean. 

What Isn’t Covered By My Liberty Mutual Renter's Insurance Policy?

What’s not covered by your Liberty Mutual Renters Insurance Policy?

Flood damage isn't covered so you want to double check if you need that. 

As always, you should disclose if you plan on running a business out of your unit. 

You should also look into your coverage limits and deductible to see where you stand.

Can I Add My Roommate?

Are you looking to add a roommate to your insurance policy? 

Your Liberty Mutual Renters Insurance will autoamtically extend to any family members who live with you.

“If you live with someone, you can optionally add them to your policy. Spouses and family members who live with you are already covered.”

Liberty Mutual Insurance scored well when it came to financial strength. The company has an A.M Best score of A.

What this means is that they have the ability to meet their insurance obligations.

It's a large corporation that has been around for a long time so you don't have to worry about them going out of business.

Pros and Cons of Liberty Mutual Renters Insurance?

Every renter’s insurance policy comes with its own set of pros and cons.

 In the interest of a transparent review, we want to look at the positives and the negatives of Liberty Mutual Renters Insurance:

What are the pros and cons of Liberty Mutual Renters Insurance?

Those are the pros and cons that we want you to think about before deciding to use Liberty Mutual Renters Insurance.

Does Liberty Mutual Offer Insurance In My State?

You're in luck because Liberty Mutual currently offers insurance in all 50 states.

You can also check the best renters insurance rates by state using the map below.

How can you cancel?

Let’s say life gets in the and you have to cancel your Liberty Mutual Renters Insurance, how would you do this?

You can call in at any time to 1-800-658-9857 to cancel your insurance policy.

Before you cancel, it’s important to understand why you’re canceling and what you plan on doing. Sometimes we think that we’re finding a better deal on renter’s insurance when in reality we’re going to be losing out on coverage.

Take Action

That’s our review of Liberty Mutual Renters Insurance. We were pleasantly impressed by the website and the plethora of opportunites for discounts to help you save some money.

Overall, you can find some decent coverage at fair rates here.

As always, we recommend that you obtain a few quotes before signing up for a renter’s insurance policy that matches your situation.