This article provides all essential aspects and facts about Liberty Mutual renters insurance and explains its pros and cons in detail.
Only some people can live on their property or afford to buy a house, so renting a home is the most sensible thing for them. Problems can appear anytime, and people have to deal with them. Even if a person finds a house to rent, he can face situations where he can lose valuable possessions or get severely injured. How can a person cope with expensive bills and costs in such cases?
It is where a renters insurance program kicks in to show its undeniable need. Although renters insurance is not mandatory in many states, a landlord may require it from his renter to ensure the safety of their building. Thus, this insurance is unnecessary for living in a house or building. It depends upon the landlord of the building. He can ask his renters to purchase renter insurance beforehand.
Staying on a safer end comes in handy, and this is why every person who lives or plans to live as a renter is someone else’s property should consider purchasing a renters insurance policy. This insurance policy helps, especially in case of theft, since landlords never take responsibility for your property or loss in any way. You are responsible for whatever belongings you have. For instance, if a fire starts in your building and you lose most of your stuff, the landlord cannot be held responsible for loss of coverage because he did not cause the fire.
In such unforeseen and unfortunate situations, people require some safety measures to ensure coverage for their loss and, if need be, replacement. Many private and public companies provide various renter insurance policies at affordable premium pay rates. Liberty Mutual renters insurance is one of its kind and can cover all essential claims that every person requires.
What is Liberty Mutual renters insurance?
The renter’s insurance protects your things, such as clothing, furniture, and gadgets. Generally speaking, renters insurance may assist in covering losses brought on by events like fire, theft, and even some weather-related accidents. As a result, renters insurance is generally necessary if you rent an apartment, condo, or house. If a guest is hurt while staying at your rental, renters insurance may also assist with paying the legal costs. Remember that renters insurance is different from homeowner or landlord’s insurance. They don’t provide you with the protection you require as a tenant because they are made for property owners.
Liberty Mutual is an American diverse global insurance company providing various insurance programs and policies to people in the USA and worldwide. This organization was established in 1912 and has become the third-largest property insurer in the United States today. This insurance company offers a wide range of insurance programs and services. These include personal to automobile insurance, homeowner and renters insurance to workers insurance, commercial automobile to general liability, group disability to global specialty, etc.
Liberty Mutual has millions of followers worldwide, mainly in the United States. This company has managed to attract a lot of insurance purchasers and has helped them with insurance coverage of their choice with its multiverse insurance plans. Liberty Mutual is a reliable insurance-providing organization that ranks in the 77th position among the 100 largest corporations in the United States.
Our topic is renters insurance, so what is a renters insurance program? Renter’s insurance covers damage or theft of someone’s personal property, medical expenses, and personal liability damages. But insurance companies do not cover every event since there are always limitations and restrictions that judge the eligibility criteria of any insured individual. Some insurance companies also offer additional living expenses in case of temporary relocation.
Insurance companies differ in their insurance policies by providing newer aspects to their clients and customers. These terms and conditions vary according to the policy type. Every state has a different approach to delivering its insurance policies and programs. Liberty Mutual renters insurance provides security and coverage to people on loss or damage to their property. Its policy programs allow affordable premium rates and coverage for various things.
Popular Renters Insurance Companies
- Liberty Mutual
What does renters insurance cover?
Liberty Mutual operates in all 50 states of the United States and provides insurance to millions of clients. Its policies are thorough and provide coverage for four primary financial protection. These factors and aspects for as follows:
- Personal property damage
- Personal liability
- Additional living expenses
- Medical payments
Additionally, Liberty Mutual provides a few adaptable coverage choices:
- Jewelry replacement coverage under one policy in case it is last or stolen. No deductible or appraisal is necessary.
- Residents of earthquake-prone locations should carry earthquake insurance. This coverage extends up to 360 hours after the main earthquake and covers damage brought on by aftershocks.
- Replacement cost insurance to pay for covered losses. Insurance against identity theft will pay for lost earnings, legal costs, and credit monitoring if your identity is compromised.
|Coverage Type||What It Covers|
|Liability||Protects you against lawsuits related to bodily injury or property damage that you or your family members cause to other people.|
|Personal Property||Protects your personal property against theft, fire, smoke damage, lightning, vandalism, explosion, windstorms, water damage, and other events listed in your policy.|
|Medical Payments||Pay for medical expenses related to a bodily injury at your rental property.|
|Loss of Use||It covers any basic living expenses you must pay out of pocket associated with a loss of use of the rental unit due to events covered in your policy.|
Personal property damage
Injury to personal property because of someone else’s negligence, willful destruction, or by nature’s act falls under this category. According to lawsuits related to damage, property damage has a separate representation and is not represented within personal injury. Property damage may include harm or damage to one’s possessions. It includes vehicles, homes, furniture, and all sorts of belongings. If a person’s belongings get damaged or destroyed, he can rely on renters insurance to cope with costly bills and payments. Liberty Mutual renters insurance allows its purchasers to get complete coverage for such events and facilitate them to never worry about expensive bills.
If your property is damaged, relying on renters insurance, or tenants insurance as it is called, will cover the damage price according to the policy limits.
According to the plan type, coverage limits vary in their application, and insurance companies require an evaluation and complete information about the accident. There is a certain net amount according to which a company helps insurers repair or replace their damaged property, and even in some cases, they get complete compensation.
Personal liability insurance is entirely related to financial protection and coverage. This insurance covers a person’s claims and also his family’s. While living in a rented property, a person may get bodily injuries and damages due to any accidental event. Hence, the tenants cannot aid themselves through a renters insurance policy. This insurance program provides coverage for all medical situations that can happen due to an accident. The homeowner’s insurance program helps landlords or building owners with things they need help for.
This personal liability coverage is not limited to a person’s home but is also valid if any accident or injury occurs while he is not home. The main aim is to provide access to medical aid in tough times. In addition to medical bills, this program also pays for a person’s legal defense fees. Liberty Mutual renters insurance provides a thorough personal liability plan. On average, a standard renters insurance policy includes coverage up to $100,000.
Additional living expenses
The additional living expenses (ALE) program allows the insured to live as he would if he had enough money saved. Maintaining a normal lifestyle is essential for a quality life. For instance, if a person has to live elsewhere because there was a fire at his place and his house burnt down, he can pay his additional expenses through additional living expense coverage. This coverage is provided until a person can live at his repaired place again or until the range reaches the policy limit.
Additional living expense coverage allows insurers not to go entirely broke and be homeless. This policy covers reasonable expenses like food, hotel, rental home charges, and clothes, if necessary. But a policy must provide such coverage first. Simply put, this policy helps people live as they did in their homes.
Medical expenses are hard to afford, and only some are financially stable enough to cope with sudden medical costs. Suppose a person gets injured on the property and seeks medical assistance and help in any event. In that case, Liberty Mutual renters insurance may help you cover all treatment costs and payments according to policy limits. This policy allows payments to others for bodily injuries regardless of who was at fault or responsible for the accident. It simplifies the process and enables the insured to avail of all necessary treatments. But like all policy programs provide limited coverage for medical costs to the insured and his guests when they get involved in accidents resulting in injuries.
Together all these coverage programs provide substantial financial protection against unexpected and unfortunate events. Still, it is essential to understand precisely which situations are covered and which are not in this policy. Liberty Mutual renters insurance helps its policyholders with all these situations and aids them financially to be their support.
Other things renters insurance covers
There are some secondary benefits of buying renters insurance. Liberty Mutual renters insurance policy also provides coverage for these supplementary services that further facilitate an insured person.
- Debris removal
- Alterations and building additions
- Credit card and cheque forgery
- Food spoilage
Debris removal is a part of property insurance programs and policies, including renters insurance. In this section of the insurance program, the insurance company provides coverage and reimbursement for clean-up costs and expenses that a tenant may have to pay to remove any damage to the property. However, the scope for these clean-up costs is only for debris and damage removal that results from any insured peril.
These can include debris accumulation from a building fire or chapped wooden slabs on the floor or elsewhere within the property. This coverage is often partial and rarely complete. Still, it all depends on the cause of debris accumulation and the policy limit within which a company pays for covered expenses and bills. This type of aid falls under the category of personal property liability.
Alterations and building additions
Another vital section any insurance company provides is building additions and general alterations. So what is meant by making alterations and additions? An alteration is a limited construction or amendment in an existing building that comprises modifications and needed replacements. Alterations are some changes here and there in the structure and are often essential changes. Liberty Mutual renters insurance covers the cost of these changes and building modifications.
This section of the program allows tenants to make necessary changes in their places and live in better-conditioned houses. The alterations and additions must be within the policy coverage limits to meet the eligibility criteria for these benefits. Examples of the most common alterations and building modifications include extension, partial demolition, linking or separating spaces within the structure, etc. In most cases, a renter can get coverage up to 10 to 15 percent of the property’s value with this type of coverage.
Credit card and cheque forgery
Another important thing a renters insurance program can aid is credit card and cheque forgery. Renters and tenants are always at risk of credit card and cheque forgery. Suppose a person loses his credit cards and cheques or faces theft of his possessions. Your money is unsafe in such cases, and if a criminal manages to loot you through your stolen information, your insurance company may cover the lost cost up to its coverage limit.
Policyholders can claim their lost data and money through Liberty Mutual renters insurance. The policy covers losses resulting from theft and fraudulent acts. This coverage has an average limit of up to $1000, depending on the policy type you bought for yourself. Thus, renters insurance covers counterfeit money and helps tenants be extra resourceful when they encounter theft or fraud.
Any person can face food spoilage if his ventilation system or refrigerator breaks down. So when does a renters insurance program help with food spoilage? The renter’s insurance will cover and reimburse the cost of replacing spoiled food due to a broken-down refrigerator or freezer. The only condition is that the damage needs to be on the insured peril to be considered by the insurance company.
This section is a part of many other insurance programs, for instance, homeowner’s insurance policy. The average cost of food spoilage reimbursement ranges between $500 to $2,500. If a power failure in your apartment or building results in refrigerated food loss due to spoilage, Liberty Mutual renters insurance policies will often cover you under personal property limits.
Many insurance companies also offer optional and additional endorsements as per a renter’s wishes. The policy program allows customization, and every insured can add certain aspects. The price and premium pay rates depend on the policy coverage limits. If the company does not provide the reimbursement you need as an endorsement, you might need to purchase a separate policy to ensure you are adequately covered. Liberty Mutual renters insurance also offers such customization facilities.
What does the Liberty Mutual insurance program not cover?
Insurance policies also have some limitations, and renters insurance does not provide reimbursement for the following events:
- Floods, earthquakes, and all-natural hazards
- Bed bugs and other pests
- Damage to your car
- Someone else’s possessions
Floods and natural hazards
Features provided by renters insurance do not cover or protect a person from all risks. Natural hazards are out of control, and humans cannot control such events. Although these unforeseen events cause much damage, their coverage is unavailable under renters insurance programs. These events include floods, earthquakes, hurricanes, etc. The coverage cost for such events is usually high; insurance companies must reimburse their bills and expenses.
Average renters insurance policies and programs do not damage from earthquakes, floods, and all-natural hazardous situations. Still, some companies also provide optional inclusion of such damages and events with customization. Moreover, if you cannot get earthquake or flood coverage through your renter’s insurance policy, you can buy a separate flood or earthquake policy to cover such damages.
Sinkholes are depressions within the ground and have no natural external surface drainage. These sinkholes cause problems whenever it rains as the water fills these holes and causes issues for residents. Many states in the United States, including Florida, are underlain by limestone and are prone to sinkholes.
Renters’ insurance policies do not cover such unforeseen events and pay for the damages. For such situations, tenants must rely on separate insurance coverage plans and eliminate the risk of further problems. Liberty Mutual provides additional insurance plans to cover such events and the damage they cause to building or apartment residents.
Bed bugs and other pests
Another significant problem people face throughout the United States is an outbreak of bed bugs and other pests. Although very common, insurance companies do not reimburse or provide coverage for such issues. Suppose a person has to deal with bed bugs and problems outbreaks. He has to pay the entire cost of eliminating them out of his pocket and cannot get aid from insurance-providing companies under the renter’s insurance policy.
These problems are considered part of maintenance policies and are not given aid under renters’ or tenant’s insurance programs. Liberty Mutual renters insurance does not cover these events. However, it provides additional add-ons to customize your policy plan completely.
Car theft and damage
Theft and robberies are situations nobody can avoid. A person can lose valuables, credit cards, and cash. Such events are covered under renters insurance. However, car theft and damage are situations that an average renters insurance program will never pay for. Renter’s insurance policies are primarily property insurance and do not cover possessions, including vehicles and automobiles. This type of coverage will fall under the bracket of the Liberty Mutual car insurance program.
Liberty Mutual renters insurance never includes damage to one’s car due to theft or accidental damage. But your belongings inside your vehicle, such as your money or credit cards, etc., are covered, and the insurance company pays for your loss.
Someone else’s property and possessions
Renters insurance is only responsible for the insured and his belongings, not for someone else’s property or possessions. Suppose a person shares space with people and carries a renters insurance program, and the roommate’s belongings are stolen, or they get damaged. The insurance company will never take responsibility for someone else’s possessions that did not purchase a policy.
For payment, items must be on the reimbursement and coverage list. A person may add the roommate or whoever he lives with to his insurance program. But in such cases, the premium costs will be split between yourself and your roommate. Liberty Mutual renters insurance allows such customization to its clients and customers for convenience and ease.
Liberty Mutual and cheap renters insurance prices
Liberty Mutual has become a go-to provider many people prefer while searching for suitable insurance policies. It provides affordable rates and cheap premium programs to its policyholders. It has been in the insurance-providing business for more than 100 years. So, whether a person is looking for cheap, affordable, and accessible renters insurance or wants to self-customize his plans, Liberty Mutual can assist 24/7.
The average renter’s insurance policy costs between $188 premium for an insurance program between $25,000 and $50,000 coverage range. It all depends upon the policy limits and plan coverage. Liberty Mutual allows insurance plans starting at $12 monthly or $144 yearly. People can include further aspects as add-ons; thus, it charges additional charges accordingly, increasing the yearly premium to $285 on average.
Liberty Mutual renters insurance helps tenants secure their places and get mandatory aid whenever needed. It is why today, many people reach out to insurance companies, especially Liberty Mutual, to seek assistance and help regarding their insurance policy needs. According to a recent study by NerdWallet.com, they collected information using a survey depicting 79 out of 100 customers who were satisfied with Liberty Mutual’s services and insurance programs.
Liberty Mutual renters insurance phone number
There are many ways to contact Liberty Mutual to get details of their insurance programs, prices, coverage list, and more. Clients and customers can contact the company through various platforms, including social media and email. The most common ways to contact Liberty Mutual Corporation are as follows:
- By phone
- By mail
- Corporate offices
- Social media platforms (Twitter)
Liberty Mutual renters insurance By phone
Clients can call on the helpline at 1-800-290-8711 to get all the necessary information they require. This helpline is active 24/7, and its customer representatives are always ready to deliver whatever they ask.
Liberty Mutual renters insurance By mail
Liberty Mutual provides its mailing address, and people can leave a mail to get information regarding whichever coinsurance plan they want to purchase.
The most common way is by reaching out through their corporate offices. Since Liberty Mutual operates in all 50 states, it has offices all over the United States, and its agents are more than happy to assist people and help them get their desired plans.
Social media platforms
Liberty Mutual provides Twitter as the primary social media to its potential clients and existing policyholders to resolve all issues and assist those who ask for it. Anyone looking for information regarding Liberty Mutual renters insurance can avail of any upper services to get affordable insurance programs.
What Renters Insurance Discounts Are Offered By Liberty Mutual?
Liberty Mutual Renters offer Renters Insurance Discounts with Liberty Mutual has several opportunities for saving on renters insurance. Discounts are provided for:
- Bundling more than one Liberty Mutual insurance policy, like renters and auto insurance
- Not filing a claim with your previous insurance carrier for at least five years
- Getting a quote from Liberty Mutual before your current policy expires
- Enrolling in automatic payments linked to a bank account
- Purchasing a policy online
- Choosing to receive policy documents electronically
How can you save money on Liberty Mutual’s renter’s insurance?
You can do a few things to save money on Liberty Mutual’s renter’s insurance. One thing you can do is to make sure that you have a good credit score. If you have a good credit score, you will most likely get a discount on your premium. Another thing you can do is raise your deductible.
If you submit your deductible, you will pay less in dividends each year. Finally, you can consider bundling your renter’s insurance with other types, such as car insurance. It can sometimes help you save money on your overall premium.
How Do I Buy a Renters Insurance Policy From Liberty Mutual?
You can purchase a Liberty Mutual renters insurance policy online, over the phone, or through a local agent. If you purchase your policy online or over the phone, you’ll be able to get a quote and buy your policy in just minutes.
If you purchase your policy through a local agent, you can ask questions and get more information about coverage options. The steps to buying Liberty Mutual renters insurance coverage are as follows:
- To receive a quotation for renters insurance from Liberty Mutual, enter your ZIP As an alternative, you can contact customer support agents.
- Give information such as your name, address, birth date, if you have any other policies with the insurer, the estimated worth of your possessions, and the number of persons who the insurance will cover.
- Liberty Mutual will give you an estimate once you have submitted the necessary information. Once you have finished creating your insurance, you may customize it as you like and include payment details.
How Do I File a Claim With Liberty Mutual?
If you need to file a claim with Liberty Mutual, you can do so online, over the phone, or through a local agent. You’ll need to provide some basic information about your claim, and then you can upload any supporting documentation. Once your claim is filed, you can track its progress online or through the mobile app. Policyholders can contact liberty mutual by phone or submit a claim online, which requires logging into your account anytime. Your policy number and information about the incident’s date and circumstances should be kept on hand. When you submit a claim, mutual liberty issues you a claim number that you may use to check on the progress of your claim. In some circumstances, you could be required to provide further information, such as images and receipts, or to participate in an interview with a representative. The following procedures for processing your claim will also be disclosed to you by the insurer.
Liberty Mutual vs. the Rivals
Allstate vs. Liberty Mutual
Although Liberty Mutual and Allstate are equal for fifth place on our list of the best renters insurance providers in 2023, there are some critical distinctions between the two businesses. For instance, the monthly premium difference between Liberty Mutual and Allstate is $2.67. Both companies provide base Coverage. However, there are different supplementary coverage alternatives. For instance, Liberty Mutual offers comprehensive coverage for jewelry without a deductible or upfront evaluation. On the other hand, Allstate’s scheduled personal property coverage covers a detailed list of valued goods, including engagement rings, coin collections, and antiques.
Liberty Mutual also provides personal property restrictions as low as $5,000, which is an intriguing option. According to a fascinating Allstate policy, Renters 55 and older who aren’t actively looking for full-time jobs may be eligible for up to 25% off their renters insurance rates. Both companies provide some protection if your dog hurts someone else while they are staying in your rental property; Allstate additionally pays the vet fees for a different dog if your dog breaks or attacks another dog. You can acquire coverage no matter where you reside because Liberty Mutual and Allstate provide renters insurance in all 50 states and Washington, D.C.
Erie Insurance vs. Liberty Mutual
In our analysis of the best renters insurance Companies of 2023, Liberty Mutual is also tied with Erie Insurance for fifth position. However, they are not the same. For instance, Erie Insurance is only accessible in 12 states and Washington, D.C., but Liberty Mutual is available in all 50 states and the District of Columbia. Compared to Liberty Mutual, Erie Insurance offers a slightly lower median basic base premium, around $1.20 less each month. While Erie Insurance requires clients to meet with an agent to receive a rate estimate, Liberty Mutual provides quotes over the phone and online. Both businesses do provide a variety of renters insurance policy discounts.
Theft of jewelry watches, Erie Insurance covers furs, weapons, and associated equipment, as are the following incidents:
- Credit card theft, forgery, or unauthorized use
- Loss of food from a refrigerator or freezer due to a power outage or other technical issue
- Theft of boats and trailers
Both businesses have strong financial standing, which puts them in a solid position to pay out claimant’s money according to AM Best assessments.
Does Liberty Mutual renters insurance cover water damage?
Liberty Mutual does not explicitly cover water damage in its renter’s insurance policies. However, the company does offer coverage for some types of water-related damage, such as burst pipes and flooding. If you’re unsure whether your policy covers water damage, it’s best to contact a Liberty Mutual representative to ask about your specific coverage.
Does Liberty Mutual’s renter’s insurance cover theft?
Yes, Liberty Mutual’s renter’s insurance policies cover theft. However, there are some limitations on what types of theft are covered. For example, if you have stolen valuable items, you may need additional coverage to receive total compensation for your losses.
Does Liberty Mutual’s renter’s insurance cover flooding?
Liberty Mutual does not cover flooding in its renter’s insurance policies. If you live in an area prone to flooding, you may need to purchase a separate flood insurance policy to be fully protected against this damage.
Does Liberty Mutual’s renter’s insurance cover broken windows?
Yes, Liberty Mutual’s renter’s insurance policies cover damage to windows and other property damage. However, there may be limits on the amount of coverage available for this type of loss.
Does Liberty Mutual’s renter’s insurance cover fire?
Yes, Liberty Mutual’s renter’s insurance policies cover fire damage. It includes damage caused by smoke, as well as direct fire damage. However, there may be limits on the amount of coverage available for this type of loss.
Does Liberty Mutual’s renter’s insurance cover bed bugs?
Liberty Mutual does not cover bed bugs in its renter’s insurance policies. If you have a bedbug problem, contact a pest control company to resolve the issue.
Does Liberty Mutual’s renter’s insurance cover mold?
Yes, Liberty Mutual’s renter’s insurance policies cover mold damage. However, there may be limits on the amount of coverage available for this type of loss.
How do I cancel Liberty Mutual’s renter’s insurance?
If you need to cancel your Liberty Mutual renters insurance policy, you can do so by contacting a representative from the company. You will likely need to provide a reason for canceling the procedure and may be required to pay a cancellation fee.
Does Liberty Mutual have a mobile app, and what can you do with it?
Liberty Mutual does have a mobile app that allows policyholders to access their account information, make payments, and file claims. The app is available for both iOS and Android devices.
What discounts does Liberty Mutual offer on its renter’s insurance?
Liberty Mutual offers a variety of discounts on its renter’s insurance, including discounts for bundling policies, having a smoke-free home, and more. You can learn more about the values that are available by speaking with a representative from the company.
Does Liberty Mutual offer dividends?
Yes, Liberty Mutual provides bonuses to its policyholders. It means you may be eligible to receive a portion of the company’s profits at the end of each year. Dividends are typically paid as a check or a credit towards your premium.
What other unique services does Liberty Mutual offer?
Liberty Mutual’s customer satisfaction rating is good. The company is known for its excellent customer service and its wide range of insurance products. Liberty Mutual also offers a variety of unique benefits, such as identity theft protection and pet insurance.
Does Liberty Mutual cover college dorm rooms?
No, Liberty Mutual does not cover college dorm rooms. However, the company offers a unique “dorm insurance” policy that covers personal property in dorm rooms. This policy is only available to accredited college or university students.
In conclusion, getting a renters insurance program is always beneficial for people who do not have their property and live off someone else’s property. Liberty Mutual is a trusted and diversified insurance company that can provide customizable plans to tenants. Renter’s insurance can help cover significant losses, including property damage and self-injuries. Filing a claim can be long and tiring, but with Liberty Mutual, the more information you have readily available for your insurer, the more likely you are to speed up your claims process and receive timely assistance for your loss.
Is Liberty Mutual a reputable insurer?
For some people, Liberty Mutual is a reliable source of insurance. Car insurance costs are above average, although home and renters insurance prices are often reasonable. To assist you in minimizing your premium, the organization does, however, provide several discounts. Although Liberty’s customer service scores are often below average, it is still a fantastic choice for people who prefer to handle their insurance online to its well-regarded app.
Rent-a-cars, does Liberty Mutual cover them?
Rental vehicle reimbursement is an add-on service Liberty Mutual provides for your motor insurance policy. Enterprise Rent-A-Car offers policyholders a discount on rental automobiles. Liberty Mutual’s claims valet service may carry your rental car to you and your vehicle to the repair shop if it is drivable.
What is covered by Liberty Mutual’s homeowner’s insurance?
Typical homeowner insurance from Liberty Mutual includes coverage for damage to your house’s structure, personal belongings, and other structures on your property, as well as for injuries or property damage you’re liable for causing to others. It also includes additional living expenses if your home becomes uninhabitable. Extended coverage for jewelry, water damage, storm damage, and inflation protection is an option for homeowners.