Liberty Mutual offers general liability, commercial property, and workers' compensation. Is Liberty Mutual business insurance right for your small business?
WRITTEN & RESEARCHED BY
Lead Staff Writer
Last updated onUpdated
REVIEWED BY
Managing Editor
| Total Rating | 3.7 |
|---|---|
| Pricing3.4 | |
| Features4.6 | |
| Customer Service2.8 | |
| User Reviews3.9 | |
Liberty Mutual is already a top name in the insurance field for its home and auto insurance (and the 6th largest insurance company worldwide), but in addition to protecting individuals, Liberty Mutual also offers competitive small business insurance. As a nationwide brand with regional representation, Liberty Mutual promises its partnership with small businesses is tailor-made for individual policy owners.
Liberty Mutual’s basic small business insurance options include a small business owner’s policy (BOP) which bundles general liability and business property insurance, and workers’ compensation insurance.
Other policy options are add-ons to your general liability or commercial auto, such as an umbrella policy or equipment protection. Liberty Mutual also offers surety bonds.
Table of Contents
| Pricing3.4 |
|---|
| Affordability 3.6 |
| Transparency 3.0 |
As with most insurance companies, the cost is determined by any number of fluctuating criteria.
How much business insurance costs will depend on what kinds of insurance you want to purchase for your small business as well as how much and what you want to be covered. Generally speaking, the more coverage you add to your policy, the more expensive it can become.
According to industry leaders, Liberty Mutual’s prices are average among its competitors which is why it gets average marks in our ratings rubric.
Liberty Mutual has partnered with a company called Tivly (a third-party insurance quote aggregator) to provide free quotes online. There are two options. You can call a number and wait to speak to a representative, or you can fill out an online form and wait to be called back by a representative. Both options involve a phone call with Tivly.
We would prefer an easy online quote without the need to speak to a real human; it’s easier, immediate, and without time-constraints.
You can also get a quote for Liberty Mutual, among other insurance providers, by using an aggregator like CoverWallet — a company that takes your information and provides you with quotes from a number of various insurers. Read our CoverWallet review for more information.
| Features4.6 |
|---|
| Types Of Insurance Offered 5.0 |
| Additional Services 3.8 |
Liberty Mutual offers a wide range of insurances and surety bonds for just about any time of small business, and they score well in this category in our ratings. Here’s what you can expect from Liberty.
Liberty Mutual’s small business owner’s policy (BOP) bundles general liability, business property insurance, and workers’ compensation insurance. This is the foundational insurance available for small businesses. Any additional coverage will be added to the BOP.
Liberty Mutual is the largest surety writer in the United States and Canada. They provide both commercial and construction surety to help guarantee that customers will be paid if they don’t receive services.
If your small business has a niche need or coverage issue, Liberty Mutual will work with you to create coverage that is best suited to your needs. Types of specialty protection could include:
Liberty Mutual offers small businesses the following insurance policy options:
Liberty Mutual is a big enough company with enough coverage options to handle pretty much any size of business. They are probably best suited for mid-sized or larger businesses with extensive insurance needs, and smaller businesses may find some of their rates cost prohibitive. But it’s still probably worth your time to get a quote.
Liberty Mutual has 24/7 claim support, so someone will always be there to answer the phone to talk you through the process or answer questions.
You can always contact Liberty Mutual by phone, but you can also file a claim online by logging into your account. To file a claim, you will need your username/password, date of the incident, and details about the incident.
Liberty Mutual also has an app. From the phone app, a small business can pay their bill or file and check on any claims.
The majority of data concerning Liberty Mutual’s claims department is related to their auto or home insurance policies. When it comes to their auto claims, Liberty Mutual performed at the industry average (according to a 2022 JD Power auto claims satisfaction study). While this data does not specifically support small business claims, it demonstrates that Liberty Mutual is on par with its competitors for claims processing in general. The data for the 2023 property claims satisfaction study shows the same score.
Some customer satisfaction sites say that claim times are a little slower than average.
| Customer Service2.8 |
|---|
| Ease Of Claim Filing 3.5 |
| Customer Support 2.0 |
The easiest way to get in touch with customer support at Liberty Mutual is to log-in to your online account. From there, you can access customer support. There is a database of online accounts to assist with the most frequently asked questions and help with filing/checking on claims, etc.
| Liberty Mutual Customer Service | Availability |
|---|---|
| Phone Support | |
| Email Support | |
| Support Tickets | |
| Live Chat | |
| Dedicated Support Representative | |
| Knowledge Base or Help Center | |
| Videos & Tutorials | |
| Company Blog | |
| Social Media |
Small businesses can also send a text to Liberty Mutual at their provided number. By sending a message (standard rates apply), you will hear back from a representative at any time. They also purport to be very active and responsive on social media — should you want to send them a Tweet or Facebook message with your questions. All of these options help Liberty score well in this category in our ratings.
Liberty Mutual has a very positive reputation overall as an insurance company, with the bulk of online reviewers claiming they were satisfied with getting insured and/or filing claims. All major rating systems of insurance companies score Liberty Mutual high, as well, and they have an A+ rating with the Better Business Bureau.
Here’s what reviewers had to say:
Liberty Mutual has been around a long time and has established itself as a competitor in the insurance world, and it’s a good insurance company. We consider Liberty Mutual a decent choice, but there are some drawbacks for small businesses.
Claim satisfaction and price are average based on other top choices, and Liberty Mutual is just a fraction behind its peers when it comes to online accessibility. We don’t like that you have to call a third-party to receive a quote, and that small businesses may not receive the same website/online claim filing benefits as larger businesses. If you already have insurance through Liberty Mutual and an agent you trust, it could be a fine option for your small business. If you have the flexibility to shop around, you might find a better fit with a different carrier.
Check out some of the other best small business insurance companies for our top choices.
We spend hours researching and evaluating each business insurance provider we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings.
When rating business insurance companies and policies, we use a 26-point rubric that looks at pricing, features, customer service, and user reviews. We weigh each section differently to calculate the total star rating.
Each section is further broken down into granular, weighted subsections, in which we examine specific attributes like the relative cost of policies compared to industry standard, the transparency of pricing, and how many types of business insurance are offered. We also check to see whether the insurance provider offers multiple ways to file claims and how difficult the filing process is, awarding higher rankings to those that provide excellent customer support and an intuitive process.
Read more about how we rate business insurance companies.
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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
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