Since I moved back to Boston in 1991, I’ve had an auto insurance policy with an independent broker via Liberty Mutual. In the 21 years since, I’ve had cause to contact them a few times because of auto accidents, but mostly I’ve been a valuable customer for them, paying my policy on time and, most importantly, I’m sure, not filing claims.
Several times I’ve actually called the broker and told them that I was thinking about moving my plan to another insurance agency closer to home (they’re located more than an hour away from me). They’ve always talked me out of it, because they’re good folks and I haven’t had much cause to complain about the quality of the insurance itself.
Then this report popped up in the Boston Globe this weekend, about the insane comp package and office renovation costs for Liberty Mutual CEO David Long, who spent four and a half million dollars to renovate an office suite with about the same square footage as my house.
The finishes to the office itself totaled more than $750,000, more than three times what my house is worth.
I understand the need for a corporate executive to set the right tone with his office, but this is really the straw that broke the camel’s back – Liberty Mutual’s stories of corporate excess have already filled pages of the Boston Globe – $50 million comp packages, fleets of private jets, huge tax breaks by the City of Boston to get Liberty Mutual to build its new headquarters in town. It’s disgusting.
The older I get, the less tolerance I have for stories of incredible corporate greed and waste like this. I certainly don’t want any part of underwriting this garbage by paying my policy premiums. So I’m going to shop around for insurance through another company.
Anyone with experience with auto insurance companies in Mass. is welcome to chime in with recommendations and warnings.