Our take

Liberty Mutual, No. 10 in our ranking of the best small business insurers, has one of the best scores from the National Association of Insurance Commissioners of the companies on our list. NAIC measures customer complaints. It also offers a great selection of coverage options, including business owner’s policies, commercial umbrella policies and niche insurance policies for contractors and fleet owners. It's best for those who prefer to work with an agent rather than handling everything online.

Additionally, Liberty Mutual offers many risk control services to its customers. You can take advantage of virtual safety consultations through the Liberty Mutual SafetyNet program and get customized risk control protocols for your industry. The company also offers severe weather resources to help businesses prepare for disasters.

Chubb
J.D. Power Score: 696
NAIC Complaint Index: 0.89
AM Best Rating: A
Pros:
  • Niche coverage available
  • Risk control services
  • Lower-than-usual complaint index
Cons:
  • Quotes are only available through a third party
  • Most claims can only be submitted over the phone
  • Average customer satisfaction ratings

What makes Liberty Mutual different?

One of the biggest selling points of Liberty Mutual is the wide variety of coverage options it offers. It’s easy to build a customized insurance portfolio that meets the specific needs of your business. The company provides insurance solutions for hundreds of industries, including energy, healthcare, finance, manufacturing, farming, real estate and many others.

Liberty Mutual also has an impressive suite of risk management tools, which can help you avoid costly claims. All customers get access to Liberty Mutual SafetyNet, which includes safety training, self-assessment tools, regulatory resources and more. You can also work with a risk control consultant to identify potential risks and improve workplace safety. 

Compared to some of the largest insurance companies, Liberty Mutual has fewer complaints registered with the NAIC. 

Small business policies from Liberty Mutual

Liberty Mutual offers dozens of insurance policies for small businesses in many different industries. 

  • Business owner’s policy: A business owner’s policy (BOP) combines general liability insurance and commercial property insurance at a discounted rate.
  • Commercial auto insurance: Commercial auto insurance provides liability coverage for owners or employees who drive business-owned or leased vehicles. 
  • Commercial property insurance: Commercial property insurance covers damage to your physical workspace, business equipment and inventory. 
  • General liability insurance: General liability insurance covers third-party claims for bodily injury, property damage and advertising injury.
  • Umbrella insurance: Commercial umbrella insurance provides excess liability coverage if a claim exceeds the coverage limits of an underlying liability policy, like general liability insurance.
  • Workers' compensation: Workers’ comp covers an employee’s medical expenses if they get sick or injured on the job.

How much does Liberty Mutual small business insurance cost?

Liberty Mutual partners with insurance marketplace Tivly to allow customers to get coverage quotes. However, not all business types are eligible for online quotes; we received a notification that we'd have to speak with an agent to get pricing information. As a result, we were unable to secure typical pricing.

How to save on the Liberty Mutual small business insurance

Liberty Mutual doesn’t advertise any small business insurance discounts online. However, many insurance carriers provide a discount when you bundle multiple policies, like general liability insurance and commercial auto insurance. You can talk to a Liberty Mutual agent about what discounts your business might be eligible for.

How to buy small business insurance from Liberty Mutual

To purchase a business insurance policy from Liberty Mutual, you can call an agent at (844) 925-1272 or fill out an online form to request a quote. Liberty Mutual doesn’t offer instant rate quotes online or online policy sales.

The importance of commercial insurance for small businesses

Operating a small business comes with a number of risks that can lead to financial consequences. To protect your business against potential pitfalls, it’s important to have small business insurance. Without commercial insurance, your business could face costly lawsuits. 

Every small business has unique insurance needs, but some of the most common policies are general liability insurance, professional liability insurance, commercial property insurance, worker’s compensation and commercial auto insurance. If you need help choosing the right policies for your business, an insurance agent can provide a recommendation. 

“Selecting the right insurance provider is crucial for comprehensive protection,” says Andy Lea, chief insurance officer at digital insurance company Embroker. “Ensure the company understands the unique risks associated with your industry, which allows them to offer tailored coverage that addresses specific challenges your business might face. Look for insurers that offer a wide range of policies so that all potential risks are adequately covered. Lastly, assess the financial health of the insurance company and evaluate the quality of customer support, including responsiveness and efficiency in handling claims.” 

Before you choose a small business insurance company, it’s also a good idea to get personalized rate quotes. Comparing rates from several insurance providers will help you find the most affordable policies for your business.

Bottom line

Liberty Mutual is a great insurance company for small businesses that want to customize a policy based on unique risks. The company offers insurance products for many different industries, including farming, manufacturing and construction. Customers can also work with risk management consultants who have industry-specific experience to improve safety and reduce the likelihood of claims.

One drawback is that Liberty Mutual doesn’t offer online rate quotes or online policy sales. Additionally, most business insurance claims can only be reported over the phone. For businesses that prefer to manage their insurance needs on their own without the help of an agent, Liberty Mutual might not be the best insurer.

Methodology

To identify the top 10 business insurers for small businesses, we used three trusted third-party metrics.

  • J.D. Power’s 2024 U.S. Small Commercial Insurance Study, the results of which we used to calculate a star score – with 5 stars being the best. American Family had the highest customer satisfaction index – a score of 727 – and was assigned 5 stars. Star scores were derived for the remaining carriers relative to their customer satisfaction index.
  • AM Best Financial Strength Ratings (FSRs), which we also used to calculate a star score. A++ is the best possible FSR and companies with that rating get 5 stars. Each rating notch below A++ is assigned a 1/3 star value – for example, an A+ receives 4.67 stars, and an A receives 4.33 stars.
  • 2023 complaint index data from the National Association of Insurance Commissioners (NAIC) for both commercial property and commercial liability. Again, we used the finding to calculate a star score. We collected the complaint indices and annual written premiums for each company to calculate a weighted average for each company group by line. The lowest property and liability complaint indices were assigned 5 stars, the highest complaint indices were assigned 2.5 stars. Star scores were derived for the remaining carriers relative to their complaint indices.

We then weighed the overall score with one-third for J.D. Power, one-third for AM Best, one-sixth for NAIC commercial property and one-sixth for NAIC commercial liability.

The companies were then ranked on a curve – with the top score being 5 stars and all subsequent star ratings being determined by that top score.