How Liberty Mutual Got Its Name
Liberty Mutual is one of the most recognizable names in the insurance industry. The company adopted its name over 100 years ago.
Written by Aleena Juarez
Reviewed by Kathleen Flear
Every
car insurance
company is different, and not just because of the prices! Some carriers don't offer certain optional policies, such as gap insurance. Others may be able to offer exclusive discounts to certain drivers. Liberty Mutual offers several different policies, from auto coverage to homeowner's insurance. Let's look at how this influential company became so popular, courtesy of Reference for Business
.How did Liberty Mutual get its name?
In the early 1900s, worker's compensation was a hot-button issue. It was only offered in a few states and declared unconstitutional in others. Massachusetts was one of the first states that mandated worker's comp statewide, encouraging other legislatures to do the same.
These policies were handled by the MEIA (Massachusetts Employee Insurance Association). This small company helped employers throughout the state implement safety measures that would protect their workers.
As time passed, the MEIA wanted to expand its offerings to more types of insurance. After partnering with a local fire insurance company, the MEIA changed its name to Liberty Mutual Fire Insurance. It dropped the 'Fire' in 1917 and was known simply as Liberty Mutual.
A few years prior, Liberty Mutual had already started distributing auto insurance policies. In 1930, the company published driver's education safety pamphlets for high schools across the nation.
The company continued to prosper and contribute to automotive safety through the ‘50s. Liberty Mutual helped develop 'survival cars' to showcase the necessity of seatbelts and headrests. Although seatbelts were invented several years earlier, they weren't required by law.
Liberty Mutual's informative demonstrations helped make seatbelts a mandated feature, as well as airbags. In the mid-’60s, the company opened the Skid Control School to help commercial drivers learn about piloting large vehicles safely.
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What kinds of policies does Liberty Mutual provide?
Liberty Mutual offers many standard auto policies, such as comprehensive coverage and bodily injury. Optional coverage plans include better car replacement, accident forgiveness, and lifetime repair guarantee.
Liberty Mutual also offers discounts and even exclusive policies for certain groups, such as teachers or active military members. A clean driving record, ownership of an EV, or having certain safety features installed on your vehicle can also reduce your premiums.
You can also pay your insurance premiums, file or track insurance claims, and view your documents on your computer at any time. Liberty Mutual also has its own app.
Is Liberty Mutual Insurance right for you?
While Liberty Mutual has a lot of available auto coverage, the only way to know if it’s right for you is to shop around. Prices for car insurance vary wildly depending on factors like age, driving history, and the type of car you drive.
Because of all the factors that go into car insurance, choosing the best carrier can be exhausting. With the
Jerry
app, you can get quotes from over 50 trusted insurance companies in a few seconds. We'll also guide you through canceling old policies or help switch your existing coverage to a different company (Liberty Mutual or otherwise!).
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