Candace Baker, Car Insurance Writer
@candacebaker
Liberty Mutual is so expensive because of agent commissions and rising costs overall for insurance companies. At $1,090 per year, the average Liberty Mutual car insurance policy is a lot more expensive than the national average of $671 per year for a policy with minimum coverage.
Liberty Mutual insurance is even more expensive for drivers with certain characteristics, including young drivers and drivers who have recently caused an accident. For example, teenagers pay an average of $2,991 per year for Liberty Mutual insurance, compared to $1,105 per year for older drivers. Additionally, drivers who have recently had an at-fault accident pay an average of $1,845 per year for Liberty Mutual coverage, which is 69% more than drivers with a clean record.
Factors That Can Make Liberty Mutual Insurance More Expensive
- Commissions for agents
- Rising costs overall for insurance companies
- Being a young or inexperienced driver
- Purchasing a full coverage policy versus minimum coverage
- Causing an accident or being convicted of a moving violation
- Living in a high-risk ZIP code
- Driving an expensive vehicle
- Having a poor credit-based insurance score
If you're having trouble affording your Liberty Mutual policy, there are ways for you to lower your premium. For example, you can take advantage of Liberty Mutual discounts or reduce your coverage.
In some cases, it might be better to switch insurers altogether. It's usually a good idea to compare quotes from at least three different insurers to see if you can find a better deal elsewhere. Each insurer uses its own algorithm to calculate premiums, so even if Liberty Mutual is charging you a high premium, you may be able to find a cheaper policy with another insurance company.
To learn more, check out WalletHub's Liberty Mutual insurance review.
People also ask
How can I lower my Liberty Mutual car insurance?
You can lower your Liberty Mutual car insurance costs by taking advantage of Liberty Mutual discounts, opting for a higher deductible, and reducing your coverage, among other things. Liberty Mutual considers a variety of factors when calculating your premium, though some – like your age and location – are out of your control. Fortunately, you can take steps to influence other factors in order to lower your rate.
How to Lower the Cost of...
read full answer by Candace Baker, Car Insurance WriterHow much does insurance go up after an accident with Liberty Mutual?
Liberty Mutual insurance rates go up by an average of 69% after an accident. Drivers who have Liberty Mutual accident forgiveness will not see their car insurance rates go up at all after their first accident in 5 years, however. Even if the accident can’t be forgiven, it will only affect your insurance rate for 3-5 years, depending on your state.
The exact amount that premiums go up after an accident depends on a few...
read full answer by WalletHub, Financial CompanyCan I get classic car insurance without a garage?
Yes, you can get classic car insurance without a garage, though finding an insurance company to cover your vehicle may be difficult, and you’ll still need a safe place to store the car. Instead of a garage, some companies may allow you to store your vehicle in a driveway, carport, barn, trailer, or storage unit, for example.
Storage Requirements by Classic Car Insurance Company
Even though a garage is a common requirement for classic...
read full answer by Milvionne Chery Copeland, WriterDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.