Liberty Mutual Renters Insurance Review (2020)

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In this Liberty Mutual renters insurance review, we examine the company’s coverage plans, pricing, discounts, and more.

Liberty Mutual is one of the longest standing insurance providers in the country and has over 105 years of experience in the industry, providing customers with solid coverage and peace of mind. For as low as $5 per month, you can get liability, medical payment, loss of use, and personal property coverage from a Liberty Mutual renters insurance policy.

To learn more about Liberty Mutual and decide if it’s the best renters insurance company for you, read our review comparing coverage and pricing.

Pros and Cons of Liberty Mutual

Consider these pros and cons before buying a renters insurance policy through Liberty Mutual:

Liberty Mutual Coverage

Liberty Mutual renters insurance covers the following events:

  • Fire
  • Smoke
  • Lightning
  • Severe storms
  • Vandalism
  • Water damage not caused by a flood
  • Theft

Note: This isn’t an all-inclusive list. Talk to a Liberty Mutual representative to discuss all covered perils and any additional add-on coverage you can include in your policy.

Like other renters insurance companies, Liberty Mutual provides coverage for four main areas:

  • Personal property—This part of your policy covers the cost of replacing your belongings when a covered event damages them. With Liberty Mutual, you can choose between replacement cash value (RCV) and actual cash value (ACV) coverage. ACV will allow you to receive compensation to replace damaged items based on their current value, which takes into account depreciation. RCV has a higher premium because you’re given a cash value to buy new items.
  • Loss of use—If a covered event, like fire or water damage, requires you to temporarily live elsewhere while your home is getting repaired, your policy will cover living expenses that exceed your typical amount.
  • Liability—If you’re responsible for bodily injury or damage to the personal property of someone else, your policy will cover the cost of medical bills or repairs. It may even cover legal fees if someone sues you.
  • Medical payments to others—If a guest gets injured in your home, you can file a claim to have your insurance provider cover their medical bills.

To see how much coverage you can purchase for each of the areas, scan this table:

Note: This information is based on what is available in North Carolina using the Liberty Mutual renters insurance online quote tool.

In addition to the general coverage above, you can buy extra insurance coverage for earthquakes, identity theft, and jewelry.

How Much Does Liberty Mutual Cost?

Liberty Mutual renters insurance costs as low as $5 per month with the most basic plan, according to the company’s website. To give you a more accurate monthly estimate, we got an RCV quote for a one-bedroom apartment in Raleigh, North Carolina. This insurance rate we received was six times higher than the lowest price Liberty Mutual advertises:

To see how your own quote compares, use Liberty Mutual’s online tool and fill in the following information:

  • Name
  • Address
  • Number of pets
  • Length of time in the rental
  • Date of birth
  • Previous address
  • Education
  • Employment status

Liberty Mutual Renters Insurance Discounts

Liberty Mutual offers five discounts:

  • Claims-free—If you haven’t filed an insurance claim in at least five years, you may be eligible for this discount.
  • Early shopper—You can get this discount if you purchase a Liberty Mutual policy before your old one expires.
  • Multi-policy—If you bundle renters insurance with auto insurance or life insurance, you’ll receive a discount.
  • Preferred payment—Not only do you save time by enrolling in automatic payment, you’ll save money through this discount.
  • Online purchase—Skip talking to a customer representative and purchase a policy online to get a discount.

Customer Service and Claims Support

If you call the Liberty Mutual general customer service line at 855-914-8626, a customer service representative will forward you to the specific department you’re looking for, whether that be claims or general support. The claims department is open 24/7, but the sales and customer service departments have limited availability.

If you would prefer not to talk to a customer service representative or you don’t want to navigate the phone tree, the Liberty Mutual offers other options. For current customers, you can use your customer portal or mobile app to manage your policy or file a claim.

Compare Liberty Mutual to the Competition

If you’re not sure whether Liberty Mutual is right for you, compare it to other top-rated renters insurance companies below.

Our Conclusion

Liberty Mutual providers standard renters insurance with liability, medical payment, loss of use, and personal property coverage. However, the company lacks more than it offers with low personal property coverage amounts, a hard-to-navigate website, and only three additional coverage options. The features that stick out are its many years of experience and a variety of discounts.

To find the right provider for your renters insurance, get a quote from Liberty Mutual and at least two other companies to compare prices and coverage:

Liberty Mutual Overview

  • CEO: David H. Long
  • Years in business: 108
  • State availability: 50
  • Address: 175 Berkeley Street, Unit J091
  • City/State: Boston, MA
  • Zipcode: 02116
  • A.M. Best financial strength rating: A

Frequently Asked Questions About Liberty Mutual Renters Insurance

Does renters insurance cover my belongings outside of my apartment?

Yes, the personal property portion of your policy covers your belongings no matter where you are. For example, Liberty Mutual will cover costs if someone breaks into your car and steals your laptop or if your laptop gets water damage on vacation.

Are my phone and computer covered under a Liberty Mutual policy?

Yes, you can protect those items under Personal Property Coverage, which will cover your phone and computer inside your home in the event of a break-in, fire, or other unpredicted circumstances. You can also protect your phone and computer under the Personal Property Replacement Cost, which can be added to your policy.

What does the Liberty Mutual cancellation process look like?

You can cancel your renters insurance policy by calling 800-658-9857. Note: the cancellation process and cancellation fees will change depending on your state.

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