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Liberty Mutual Boat Insurance Review


ConsumersAdvocate.org Rating: 2.8 / 5 (Average)
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Founded in 1912, Liberty Mutual is a Boston-based insurance company that offers a varied portfolio of insurance products. Its offerings include vehicle insurance for cars, boats, and motorcycles, property insurance including homeowners, renters, landlord insurance, as well as life insurance and related products.
 
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How is Liberty Mutual rated?

Breakdown

3.0/5
Coverage & Benefits
0.0/5
Discounts
3.0/5
Customer Experience
2.5/5
Financial Strength & Reputation

Overall Rating: 2.8 / 5 (Average)

As per industry standards, Liberty Mutual offers liability and property damage coverages under its boat insurance product. Unfortunately, the company's website provides scant information on other policy features. Interested parties must call and speak with an agent to receive a quote, a factor that places the company a step behind the competition with regard to service features. The fact that boat insurance requires an existing home insurance policy may also limit the usefulness of this policy to current Liberty Mutual customers.

Liberty Mutual Coverage & Benefits

Coverage & Benefits - 3 / 5

Among its boat insurance coverages, Liberty Mutual offers bodily injury liability, a physical damages coverage, emergency services, and coverage for accessories like oars, life vests, and anchors. The only default coverage appears to be the liability option, meaning the company will charge additional fees for add-on benefits. Unfortunately, it's website doesn't provide much information on other available coverages or insurable boat types. It does, however, note that to purchase a boat insurance policy, consumers must also have home insurance through Liberty Mutual.
Policy Type
Agreed Value
Actual Cash Value
Coverages
Bodily Injury Liability
Property Damage Liability
Additional Boat Equipment
Type of Boat
Small
Speedboat
Antique
Personal Watercraft
Yacht
Add-On Coverages
On-Water Towing

Liberty Mutual Customer Experience

Customer Experience - 3 / 5

Liberty Mutual does not provide online quotes. Those interested in the company's products or services must request further details over the phone through an agent. The company does offer a 24/7 claims service and online accounts, as well as a convenient smartphone app that allows customers file and track claims with ease.
Online Quotes
24/7 Claims
Live Chat
Online Account
Additional Resources
Mobile App

Liberty Mutual Financial Strength & Reputation

Financial Strength & Reputation - 2.5 / 5

Founded in 1912, Liberty Mutual is one of the oldest insurance companies in the country. Though it does not hold the highest ratings with the top credit rating agencies, it has a strong long-term issuer credit rating and positive financial outlook. The company has an A- rating with the Better Business Bureau with mostly negative customer reviews, none of which are related to boat insurance. Additionally, it has an NAIC complaint ratio of 13.8 based on a total of 95 complaints, a number far above the national 1.0 average.
Company Type
Underwriter
Year Founded
1912
NAIC Marketshare (2017)
0.08%
NAIC Complaint Ratio (2017)
13.8
NAIC Total Complaints (2017)
95
NAIC Direct Premiums Earned (2017)
$1,988,540,573
AM Best Financial Rating
A
Standard & Poor's Financial Rating
A
Moody's Financial Rating
A2
BBB Rating
A-
Number of BBB Positive Reviews
244
Number of BBB Negative Reviews
12
Trustpilot Rating
6.1 out of 10
Date Collected
2018-04-20

Company Profile

Full Name
Liberty Mutual Boat Insurance
Company Website
https://www.libertymutual.com/
Headquarters
175 Berkeley Street, Boston, MA, 02116

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