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How much is renters insurance with Liberty Mutual?
I’m looking for a new renters policy. My friend recommended I look into Liberty Mutual for a cheap policy. How much is renters insurance with Liberty Mutual?
Bonnie Stinson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Liberty Mutual
says that renters insurance premiums start at just $5 per month. That’s a pretty attractive price point—however, there are a few things you should know.Liberty Mutual is a well-regarded insurance company that serves all 50 states and the District of Columbia. The $5 policy is a real offer, but it does exclude a key protection that most renters would rather not go without: water damage.
To put things in perspective, here’s what a renters policy usually covers:
- Damage to personal possessions
- Personal liability
- Loss of use expenses
- A guest’s medical bills if they become injured in your rental
When the cause of damage is in the policy, a policyholder will receive compensation for the damage. Typically, covered hazards include fire, theft, vandalism, and water damage. If water damage is excluded from your policy (like in Liberty Mutual’s $5 offer), then you would have no protection if a water heater bursts or a washing machine malfunctions and ruins your furniture.
Your actual cost will probably not be $5. It will likely be closer to $15 or $20 per month. That’s about the same or slightly higher than the average renters insurance policy.
That said, Liberty Mutual could be a great option! Just be sure to read your policy carefully and ensure that you’re comfortable with the level of protection.
If you have any questions about
renters insurance
or if you want help finding an affordable policy, try Jerry
. Our friendly agents or the free Jerry app can help you find a great policy in just a few minutes.Hope this helps!
MORE: Does renters insurance cover mold?
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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