{"id":84,"date":"2023-10-16T11:16:24","date_gmt":"2023-10-16T11:16:24","guid":{"rendered":"https:\/\/businessyield.com\/ins\/?p=84"},"modified":"2023-10-16T17:16:16","modified_gmt":"2023-10-16T17:16:16","slug":"liberty-mutual-business-insurance-review","status":"publish","type":"post","link":"https:\/\/businessyield.com\/ins\/business-insurance\/liberty-mutual-business-insurance-review\/","title":{"rendered":"Liberty Mutual Business Insurance Review 2023"},"content":{"rendered":"

Liberty Mutual is a top name in the insurance field for its home and auto insurance and is one of the largest insurance companies worldwide. In addition to protecting individuals, the company 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.<\/p>

Liberty Mutual\u2019s basic small business insurance options include a small business owner\u2019s policy (BOP) which bundles general liability and business property insurance, and workers\u2019 compensation insurance.<\/p>

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.<\/p>

Overview of Liberty Mutual <\/strong><\/span><\/h2>

Liberty Mutual Group is an American diversified global insurer and the sixth-largest property and casualty insurer in the United States. Founded in 1912, it offers a wide range of insurance products and services, including personal automobile, homeowners, workers’ compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, fire insurance, and surety.<\/p>

Liberty ranks 71st on the Fortune 100 list of largest corporations in the United States based on 2020 revenue. With its headquarters in Boston, Massachusetts, and featuring the Statue of Liberty (formally Liberty Enlightening the World<\/em>) on its logo, it employs over 45,000 people in more than 900 locations throughout the world. <\/p>

As of December 31, 2021, Liberty Mutual Insurance had $156.043 billion in consolidated assets, $128.195 billion in consolidated liabilities, and $48.2 billion in annual consolidated revenue.<\/p>

In the United States, Liberty Mutual remains a mutual company in which policyholders holding contracts for insurance are considered shareholders in the company. However, the company’s brand usually operates as a separate entity outside the United States. It often creates a subsidiary in countries that cannot enjoy legally recognized mutual-company benefits.<\/p>

Liberty Mutual’s business insurance products<\/strong><\/span><\/h2>

These are the top insurance policies from Liberty Mutual:<\/p>

General liability insurance<\/strong><\/h3>

This is a must-have for business owners. It helps cover costs that arise due to bodily injury, personal injury, property damage and advertising injury (libel, slander and copyright infringement). As a rule, liability coverage applies only to third-party claims, such as if a customer falls in your parking lot or an employee damages a customer\u2019s property while on a job site.<\/p>

General liability insurance does not cover damage to your own property or injuries to your employees. That kind of situation would require commercial property insurance and workers\u2019 compensation coverage.<\/p>

Liberty Mutual offers general liability insurance as a stand-alone policy or bundled with property insurance as part of its business owners’ policy.<\/p>

Workers\u2019 compensation insurance<\/strong><\/h3>

Liberty Mutual offers workers\u2019 compensation insurance to protect business owners if an employee is injured on the job or becomes ill as a result of their work. Most states mandate workers\u2019 compensation coverage for businesses with at least one employee, though some states have a higher threshold.<\/p>

Workers\u2019 compensation covers the employee\u2019s medical expenses and also shields businesses from lawsuits related to the incident. It typically covers the following expenses:<\/p>