Learn More About Liberty Mutual
Established in 1912 as the Massachusetts Employee's Insurance Association (MEIA), the company eventually changed their name to Liberty Mutual and was known for their worker's compensation insurance services. Workers in the state were very familiar with the company as many of them were covered by the company to remain in compliance with state laws. The company expanded in 1937 to offer products in all 48 states at the time. The concept of insurance for every individual was still relatively new as it had been considered somewhat of a luxury up until that point.
For nearly a century, the provider has expanded to become one of the largest insurers in the United States. Offering home, auto, office and life insurance policies to consumers at competitive pricing, the company has become a heavy hitter within the industry.
With agents that can be found in all 50 states to provide you with customized, face to face service if that is what you like, Liberty Mutual manages to keep pace with the larger insurance companies in that regard as well, though they don't have the additional overhead of extensive advertising campaigns like some of their competition does.
The insurer maintained an A rating from Standard & Poor's until 2008, when it was downgraded to an A- (or strong). This means the provider has a strong financial base, but may be affected more significantly than carriers with higher ratings in times of "adverse business conditions," according to the company website. Regardless, the carrier remains a major force in the industry as satisfied consumers have stayed with them over the years.
The Claims Process
The provider has a claims process that is rated as fair if you are a customer of theirs. Their 24 hour support features friendly representatives who are generally amiable to consumers and the ability to speak with management as needed. If you are not a customer, on the other hand, you can receive treatment that is less than accommodating. They have received a poor rating from JD Power for their claims process when it comes to trying to get payment from them after an accident with one of their customers.
Overall the service features of Liberty Mutual live little to be desired by way of accommodations and overall service options provided. Customers report that from sales to claims they are treated with respect, short wait times and fast response when a response is required.
The carrier seems to do exceptionally well for their customers, while needing some improvement when it comes to their relations to non-customers. They tend to pay their claims on time when requested by consumers and have managed to keep a strong financial outlook despite the currently flagging economy. There doesn't seem to be any risk of hearing about their reaching for a bailout in the near future or filing for bankruptcy and leaving their policyholders high and dry.