Liberty Mutual Home Insurance Review 2022 – Forbes Advisor

In business since 1912, Boston-based Liberty Mutual ranks third among US home insurance companies by market share. The company originally sold workers’ compensation insurance. It offered its first car insurance policy in 1918.

Liberty Mutual ranked 71st on the Fortune 500 list of the largest companies in the United States based on 2020 revenue. The company acquired Seattle-based insurer Safeco Insurance Co. in 2008.

Liberty Mutual home insurance includes the standard types of coverage you would expect in a home insurance policy:

Coverage of dwellings and other structures

Dwelling coverage pays to repair or rebuild your home and attached structures, such as a garage or deck. Other Structures coverage pays to repair or replace unattached structures on your property, such as a barn or shed. Coverage typically includes damage caused by fire, wind, hail, and vandalism, among other issues.

Personal Property Coverage

The personal property portion of a home insurance policy covers damage to or theft of your possessions, such as clothing, kitchen utensils, and furniture. It is important to note that Liberty Mutual’s basic policy reimburses the actual cash value of your property, which takes depreciation into account.

Liability insurance

Home liability insurance covers property damage and injury you accidentally cause to others. For example, if a visitor slips and falls on your icy sidewalk, liability insurance can pay for medical expenses. Or if you hit a baseball through a neighbor’s window, it may pay for a new window. Liability insurance also covers legal fees if you are sued due to an accident.

Additional living expenses

Additional living expenses coverage, also known as loss of use coverage, covers extra costs when you cannot live at home due to damage covered by the policy (such as fire). Hotel bills and restaurant meals are examples of expenses that may be reimbursed.

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