Wednesday, June 15, 2022

Is Safeco A Good Home Insurance Company

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Safeco Auto Insurance Review

Safeco Insurance Reviews – Safeco Insurance Claims @ Pissed Consumer Interview

Editor’s Rating

Safeco boasts some of the best rates available, particularly for younger drivers, in addition to offering a number of unique discounts and services.

The downside? You’ll have to deal with below-average customer service. Safeco received about 33% more complaints than would be expected for an insurer of its size, which indicates that its customer service isn’t meeting policyholder needs.

Read on to learn more about the pros and cons of getting your car insurance with Safeco.

  • Young drivers looking for a low-cost insurer
  • Classic car drivers
  • People who want discounts based on their driving habits
  • Anyone who wants the ability to get a quote online
  • Shoppers who value great customer service

Overview Of Safeco Home Insurance

Safeco actually stands for Selective Auto and Fire Insurance Company, but it is also a great name for an insurance company, calling up feelings of protection and security. Safeco added life insurance to its product line in the 1960s, but in 2004, it sold off that division to focus again on home and auto. Liberty Mutual bought the company in 2008, but it retains an identity of its own, particularly in its hometown of Seattle, Washington, where Safeco Field is home to the Mariners baseball team.

Is Safeco Cheaper Than Geico

Yes, we found that Safeco tends to be cheaper than Geico for car insurance. However, every driver’s price will be different, so the only way to be sure which is cheaper for you is to get quotes.

Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Safeco Car Insurance Coverage

Safeco offers the following car insurance coverage options:

Collision: If your car is in an accident, collision insurance pays for damages to your car or its replacement.

Comprehensive: If your vehicle suffers damage because of circumstances other than accident or theft, comprehensive coverage pays for damages or replacement. 

Liability: If youre responsible for an accident you were part of, liability insurance through Safeco is offered two ways: 

  • Bodily Injury Liability: It helps pay for expenses like hospital bills and medical care for the other party. 
  • Property Damage Liability: It helps pay for damages to the other partys vehicle or real property.

Emergency Roadside Assistance: If youre stranded more than 25 miles from home, Safeco provides standard roadside assistance and covers up to $100 for expenses and up to $500 for meals, lodging, and transportation. 

Rental Car Reimbursement: If your car is in the shop because of a covered loss, Safeco helps cover the cost of a rental car.

Personal Injury Protection : If you or any passengers suffer injuries in an accident, personal injury protection helps pay for any medical expenses no matter who was at fault. 

Uninsured and Underinsured Motorist: If youre in an accident and the other driver is at fault, this coverage helps pay for repairs and medical bills if the at-fault driver has no coverage or too little coverage. 

Additional Safeco auto coverage options include: 

Safeco Online And Mobile App

safeco

Safeco offers a few options for homeowners who want to manage their policy online. You can get a quote, file a claim, and make a payment directly from the online customer portal. You can also use the mobile app for claims, payments, and basic policy changes. The company also offers a number of valuable resources and FAQ pages in the home insurance claims center.

Auto Insurance Buying Guide

Before you compare car insurance companies, youll need to collect basic information, such as the driving history of everyone on the policy and facts about your car, including safety features and annual mileage driven. Youll also want to understand which types of coverage you need. For example, do you want only the bare minimum insurance that your state requires, or do you need more extensive coverage, such as gap insurance or rideshare coverage? Check that each company youre considering has the options you want.

When comparing rates among insurers, make sure each is offering the same coverage limits and deductibles. You may not want to decide based on price alone. Look at how many consumer complaints each company has, as high numbers can be a red flag about the quality of service you might receive.

Depending on which company you choose, you may be able to buy insurance online, over the phone or through an agent. For more guidance, see how to get car insurance.

Safeco Home Insurance Review Highlights

Safeco offers homeowners, renters and condo owner insurance policies that wont cost a fortune. Theres coverage for landlords, too.

Homeowners insurance from Safeco covers damage to your house, as well as other structures on your property, from risks like fire, storm damage, or a tree falling through a roof. A Safeco homeowners policy will also pay for temporary living expenses if you cant stay home while damage caused by a covered peril is being repaired.

For renters, Safeco policies offer protection for personal belongings from damage or theft while theyre in your rental home or with you anywhere else in the world. Renters policies from Safeco will also cover legal fees if someone else gets hurt while visiting you at home.

Condo insurance from Safeco provides coverage where your buildings master insurance policy falls short. It will cover your personal belongings and any damage that occurs inside your unit, including damage to appliances, light fixtures, flooring and more. It will also cover medical fees if you or a guest is injured in your condo.

Finally, landlords can count on Safeco to protect their rental properties from damage. Safeco policies also protect landlords from liabilities like wrongful entry or wrongful eviction lawsuits.

How To Make A Car Insurance Claim With Safeco

You can file a claim with Safeco through your online account, Safecos mobile app, or by calling 1-800-332-3226. Claim phone support is available 24 hours a day, seven days a week. 

When you file a claim, youll need the following information: 

  • Your Safeco policy number
  • The incident date and description 
  • Resulting damage

Once you file a claim, you can track its progress online or through the mobile app. You can also upload photos of any damage through the app, available on iOS and Android.

Its All About You We Want To Help You Make The Right Coverage Choices

Safeco Homeowners Insurance

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships dont influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

Safeco Auto Insurance has been protecting individuals and families with comprehensive vehicle insurance coverage since 1923.

The firm became a subsidiary of Liberty Mutual in 2008, which provided it with the financial backing needed to become a significant player in the personal insurance field.

Safeco encourages community involvement with its Make More Happen awards that are bestowed on insurance agents who have made a difference in nonprofit projects.

This Safeco Auto insurance review provides information about the companys auto insurance ratings and financial health.

Table of Contents

  • Financial Strength
  • Other Home Insurance Considerations

    Schedule high-value items. Certain types of items, such as jewelry, have sub-limits, meaning your insurance company will only pay up to a certain amount for those items. For example, a standard home insurance policy usually has a $1,500 sub-limit for theft of jewelry. If you need more coverage for valuable items, you can schedule them for their appraised value.

    Consider getting replacement cost instead of actual cash value coverage. Replacement cost pays to replace an item with a brand-new version, whereas ACV reimburses you for an items depreciated amount. Have a five-year old TV that was destroyed in a fire? Then you would be reimbursed for a five-year old TV under ACV coverage.

    Choose replacement cost coverage if youre looking for the best homeowners insurance.

    Buy endorsements that fill specific gaps. Endorsements are add-ons. They are a good way to tailor your home insurance policy and fill in any coverage gaps. For example, some insurance companies sell increased coverage for landscaping, home systems breakdown, and water backup and sump overflow.

    Does Home Insurance Cover Damages Caused By An Earthquake Or Flood

    No. A standard homeowners policy does not generally cover damage caused by earthquake and floods. These sources of damage require additional coverage or a separate policy.

    If you live in an area that is prone to these types of events, talk to your local Safeco agent about making sure youre properly covered.

    Flood insurance is available through the National Flood Insurance Program.

    What Is Safeco Insurance Company

    This overview of Safeco insurance is admittedly the boring part. It has good information, but I wont be upset if you want to skip ahead.

    The company is a subsidiary of its parent company Liberty Mutual Insurance. In 2008, Liberty Mutual Insurance purchased SafeCo, but they still operate independently from Liberty Mutual.

    The companys primary sales force is a network of independent agents and agencies licensed to sell their products. This is significant because it differs from popular companies like Geico, Esurance, and Progressive, which are direct-to-consumer companies.

    What that means for you: In order to get a Safeco insurance auto insurance policy, you must work through a licensed agent. There is no bypassing the human element by simply getting coverage over the phone or online. This can be important for someone who has a complicated insurance portfolio, but unnecessary for those who know what they are doing or want simple coverage.

    It should be noted, however, that the website does allow for you to start an online quote on insurance products, and in many cases actually see a price. But the auto policy will ultimately be forwarded on to an insurance agent before it can be finalized.

    The other major difference is related to price, and why agent-driven insurance companies often cost more. We will go into more depth about this in the Rates and Premiums section below.

    Our Top Recommendations For Car Insurance

    SafeCo Insurance Review

    It is always best practice to shop around for the best deals on car insurance. Using this tool or calling  246-8209 can help make the comparison process easier:

    Safeco has very parent-friendly features, but our insurance reviews team has found that parents should compare Safeco car insurance with AAA car insurance, State Farm auto insurance, and Safecos parent company, Liberty Mutual auto insurance which are our top-ranked insurance companies for teens.

    Other drivers may find better coverage with USAA, which was the only provider to earn 5 out of 5 stars in our research into the industrys best car insurance companies, or Geico, which topped the charts for insurance available to all drivers.

    Geico Vs Safeco Price Comparison

    The price of car insurance for any given person is based on a number of factors, including age, gender, driving history, address and the make and model of the car.

    Your price will also depend on the coverage and limits you choose for your policy . That said, letâs see how much car insurance from both companies would cost for our average drivers.

    Safeco Agents And Quotes

    On its website, Safeco recommends that you visit one of its local agents to make sure you are getting the best value and price for your insurance policy, although you can get a quote while visiting the website.

    To receive an insurance quote, you can visit the Safeco Insurance Website, call 800-4-Safeco, or use the agent locator to visit a local agent.

    Geico Vs Safeco: How Much Does Credit Score Matter

    One of the factors that goes into determining how much youâll pay for car insurance is your credit score. Generally, the worse your credit history, the more youâll wind up paying for car insurance. If your credit score is very poor, you may be denied coverage altogether.

    Both GEICO and Safeco will offer policies to drivers with a range of credit scores â although itâs important to remember that the credit score you see when you check your own credit report isnât necessarily what insurers are seeing. You actually have many credit scores.

    There are three main credit bureaus that generate your credit reports: Equifax, TransUnion and Experian. But in addition to those multiple bureaus, there are also multiple scoring models used to calculate different types of specific scores. However, most of your credit scores will fall within a similar range.

    • 800 to 850 = exceptional

    • 740 to 799 = very good

    • 670 to 739 = good

    What Products And Services Are Offered

    Save more with Safeco® Home

    Safeco is a full-service insurance company, and they sell a lot of insurance coverage options. Their bread and butter are auto insurance and home insurance products, but it does not stop there. Here is a breakdown of their primary product offerings, with comments below the list:

    Now for our opinions on this insurer.

    Somewhere along the line, insurance went from being a safety net to prevent financial disaster after some sort of accident or loss, to a bloated, oversold, worthless feature-packed product that is marketed as coverage.

    Let us explain Insurance, at its core, is designed to make you financially whole after some major incident.

    Lets say you cause $50,000 worth of damage in a car accident. That is what insurance is for. It is NOT for fixing a $200 dent in your bumper after backing into a light pole.

    At some point insurance companies figured out they could sell all these ridiculous add-on features to insurance policies, and ultimately charge more money for the service.

    Safeco is a prime example of this.

    Take their Diminishing Deductible that is included in their car insurance policies. Every year you go without an accident, your deductible goes down by $100 .

    While it may be included in a car insurance policy, it certainly is not free. Insurance companies do not simply add-on features and additional coverage out of the goodness of their hearts. Its baked into the cost of the policy.

    Ready for a break? Watch my video review of Safeco.

    Safeco Complaints And Customer Satisfaction

    Safeco had fewer than the expected number of complaints to state regulators for auto insurance relative to its size, according to three years worth of data from the National Association of Insurance Commissioners.

    Safeco ranked below average for auto insurance according to J.D. Powers 2020 customer satisfaction studies.

    2020 J.D. Power Study
    Below average

    How Safeco Home Insurance Rates

    Safeco homeowners insurance earned 4 out of 5 stars for overall performance. NerdWallets ratings are determined by our editorial team. The homeowners insurance scoring formula takes into account policy coverage options and discounts, ease of filing a claim, website transparency, the financial strength of the company, complaint data from the National Association of Insurance Commissioners and more.

    What Discounts Does Safeco Offer

    Safeco offers a lot of discounts for you to take advantage of, including:

    • Bundling home and auto discount: Customers who bundle both home and auto will save 15%. You can qualify for significant savings on your auto insurance when you own and primarily reside in a single-family home, townhouse, condominium, or mobile home.
    • Safecos Safety Rewards discount: A collection of benefits, rewards, and discounts available to safe drivers who have a clean driving record, drive a safe car, or take an accident prevention course.
    • Teen Safety Rewards: Provides a collection of tools, benefits, and discounts to help your teen become a safer driver and to help you manage the cost of adding a teen driver to your auto policy.
    • Drive less, pay less discount: Save up to 20% with the Safeco low mileage discount if your car is in the driveway more than it is on the road.
    • More than one car discount: You can get a discount when you insure multiple cars on the same policy.
    • Anti-theft devices discount: You can get this discount when your car is equipped with an audible alarm or a disabling device that renders the fuel, ignition, or starting system inoperative.
    • Anti-lock brake discount: This discount is available in some states for cars equipped with a factory installed four-wheel anti-lock braking system .

    Are You Required To Have Homeowners Insurance

    Safeco Insurance Phone Number

    While not technically required by law, some version of homeowners insurance is almost always required by lenders. This makes sense because both you and your lender have a vested interest in protecting the property.

    Regardless of your lenders requirements, homeowners insurance is highly recommended to ensure your most important investment your home is covered in the event of damage, theft, or liability. Connect with a local agent today to learn more about your home insurance options.

    Discounts Offered By Safeco

    In terms of helping drivers save money, Safeco stands out for its claims-free cashback program. For every six months that you stay claims-free, Safeco will mail you a small refund: a check worth 2.5% of your insurance policy premium.

    Another big perk of buying insurance from Safeco is its accident forgiveness program. If you have been a faithful Safeco customer for several years and you have not been in an at-fault accident, your first accident will be waived and will not impact your rates. However, this bonus is unavailable in some states, such as California.

    Safeco also offers a low-mileage discount program. If you’re older than 25 and drive your car less than 8,000 miles each year, you could get up to 20% off your auto insurance. This could be a solid option for those who work from home or those who frequently use public transit.

    With Safeco, you can also get several of the standard discounts that you would expect from a large auto insurance company:

    • Bundle insurance policies with Safeco
    • Maintain a clean driving record and Safeco will lower your deductible in increments, up to $500
    • Take an accident prevention course
    • Insure multiple cars with Safeco
    • Make Safeco aware if your car has anti-lock brakes
    • Own a home

    Why You Can Trust Bankrate

    Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. Weve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

    Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. All of our content is authored by highly qualified professionals and reviewed by subject matter experts, who ensure everything we publish is objective, accurate and worthy of your trust.

    Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most price, customer service, policy features and savings opportunities so you can feel confident about which provider is right for you.

    • We guide you throughout your search and help you understand your coverage options.
    • We provide up-to-date, reliable market information to help you make confident decisions.
    • We reduce industry jargon so you get the clearest form of information possible.

    All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure were putting accuracy first.

    Safeco Can Be A Smart Choice For Families With Teenagers

    To help you determine whether or not Safeco is a good fit for your insurance needs, weve done our homework on the provider and gone over many other Safeco insurance reviews. Below, we will compare Safeco to its parent company, explore Safeco car insurance coverage, and look into industry leader and customer reviews.

    Whenever you shop for car insurance, we recommend getting quotes from multiple providers so you can compare coverage and rates. In addition to the insurance company you choose, factors such as your age, vehicle make and model, and driving history can affect your premium, so whats best for your neighbor might not be best for you.

    To start, we recommend that you get matched with the best quotes in your area by calling  246-8209 or filling out the form above.

    Safeco: Provides Good Value For Most Drivers

    Safeco Insurance: What Can an Independent Agent Do for You?

    Given Safeco’s excellent rates and the many unique coverages that the company offers, we’d recommend it if cheap car insurance is your top priority. If reliable customer service is your top priority, look elsewhere.

    Our review of auto insurance quotes shows that Safeco offers cheaper insurance than the top national insurers. When we compared the rates Safeco offered with the rates similar companies like Progressive, State Farm and Geico offered, we found that Safeco almost always offered the most affordable deal on auto insurance.

    In fact, rates for a new driver, with one to four years of experience, were 76% less expensive with Safeco than the average of the four insurers in our study.

    Profile
    Single driver, licensed 14 to 25 years$1,710
    Single driver, licensed one to four years$2,178
    Married couple, licensed for over 40 years$2,973

    State Farm Vs Safeco: How Much Are The Average Rates

    Below is a list of the average rates that drivers typically pay with State Farm and SAFECO. On average, State Farm charges approximately $160.98 per month while SAFECO comes in at around $175.96 per month. For State Farm, the cheapest state average is Idaho at $76.22 per month and the most expensive is Michigan at $345.07 per month. For SAFECO, the cheapest state average is Florida at $57.56 per month and the most expensive is Georgia at $351.46 per month.

    State Farm

    Downsides To A Safeco Insurance Policy

    Safecos basic coverage doesnt include some aspects that may be important to certain groups, such as earthquake coverage in earthquake-prone areas. Coverage is not available in all 50 states, and multiple online reviews state that Safecos claims process was too slow or not appropriate. Many reviewers didnt receive the help they anticipated, though others did note that Safeco came through on its promise to provide them with living assistance during home repairs.

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    Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

    When it comes to Safeco Insurance reviews found on the internet, they typically fall into one of the following categories:

  • User Reviews Yelp-style sites where customers can leave feedback.
  • Data Dumps Lists a bunch of facts, but provides no stance or editorial viewpoint.
  • Generic Marketing Content Not reviews, but rather rewritten marketing material.
  • This review is none of the above.

    I have written about Safeco Insurance three times over the last two and a half years, and this is an accumulation of everything I have learned along the way. I truly hope it will help you in your research.

    Table of Contents

    Available Discounts On Safeco Home Insurance Coverage

    Safeco Insurance Company

    There isn’t an overwhelming number of discounts available with Safeco, but you will find most of the common ones, including bundle, new home, and alarm system savings.

    Type of Discount
    If the house is close to a fire station, there may be another discount available.
    Package dealYou can save up to 15 percent if you take advantage of the Safeco package to combine your auto and home policies together.
    Multiple policy discountIf you bundle coverage for your specialty line – i.e. motorcycle, boat, RV – you can get even more savings.
    Less than 10 years oldThis discount applies if your home is less than 10 years old.
    Pay your bill in fullThis is not really a discount, but when you pay your home premium all at once, you will avoid paying transaction fees for multiple payments. Safeco includes this in its list of ways to lower your homeowner insurance bill.
    UmbrellaIf you have a Safeco umbrella policy, you may qualify for a discount on your homeowner policy .

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