The Safeco insurance company is a subsidiary of Liberty Mutual, one of the most reputable insurance companies on the market. Safeco may not be the biggest or the most well-known insurance provider, but it does offer a wide range of insurance products, including car, home, renters, motorcycle and pet coverage. To give you the best overview of Safeco’s strengths and weaknesses, Bankrate reviewed the company’s ratings and types of coverage available to customers.
Safeco auto insurance
Before you request a Safeco car insurance quote, it may help to understand the options available to you, so you get one that is right for you.
When it comes to coverages, Safeco auto insurance offers the basics such as liability, collision and comprehensive, plus a few add-on coverages for more protection. Below is a list of the car insurance coverage options available from Safeco:
- New car replacement: You could receive a new version of the insured vehicle’s make and model, as long your vehicle is less than a year old.
- Roadside assistance: Safeco offers towing to nearby qualified shops, flat tire repair and delivers gas through this coverage.
- Personal injury protection (PIP): This coverage helps pay for you and your passengers’ medical bills and lost wages regardless of who is at fault.
- Medical payments: This helps cover medical costs for yourself and your passengers.
- Gap coverage: Gap insurance will cover the difference between what you owe on your vehicle and what it may be worth at the time it is totaled.
- Guaranteed repair network: Safeco includes a repair guarantee for anytime your car receives service from a shop included in its repair network.
- Rental car reimbursement: This coverage helps pay for rental fees if your car needs shop repairs after a covered accident.
- Accident forgiveness: You could avoid an increase in premiums by getting one accident forgiven every three years.
- Claims-free cash back: You could get a check back for 2.5% of your premiums every six months without claims.
- RightTrack: Enable tracking while you are on the road and you could receive discounts for safe driving habits.
- Multi-Policy: Bundle multiple coverages such as homeowners and auto insurance to save up to 15%.
- Diminishing deductible: Every year without a claim could reduce your deductible by $100, for up to five years.
Safeco home insurance
Just like with car insurance, it helps to have a good understanding of the different home insurance coverage options before requesting your Safeco insurance quote.
Safeco offers standard home insurance coverage, like dwelling, personal property and liability coverage. Here are some of the additional home insurance coverage options available from Safeco:
- Identity recovery: Pays for the expenses related to identity theft.
- Valuable articles: This adds additional coverage for more expensive items such as jewelry and art.
- Equipment breakdown: Similar to a home warranty, it pays for repair or replacement of household appliances and systems.
- Personal property replacement cost protection: If your items are damaged in a covered loss, you could receive up to the current market value to replace them.
- Guaranteed Repair: If you use a pre-qualified expert through Safeco, the repair and materials will include a warranty.
Safeco insurance also offers discounts for those seeking home insurance. Below is a list of home insurance discounts available from Safeco:
- Multi-policy: Combine your home and car policies could save you money on your homeowners insurance policy.
- Newer home: If your home is considered new, you might qualify for a discount.
- Advance quote: Signing up for coverage in advance could lower your premium.
- Umbrella policy: Adding an umbrella policy to your homeowners insurance could make you eligible for additional savings.
- Protective devices: Add a security system or smoke detectors to potentially qualify.
Safeco renters insurance
A renters insurance policy from Safeco gives you peace of mind knowing that your belongings are covered anywhere in the world.
Safeco offers all the usual renters insurance coverages, as well as a few extras. Here is what you can get with a Safeco renters policy:
- Personal property coverage: This insures your personal belongings in a covered loss.
- Liability: Safeco helps pay for your guests’ injuries and damages, as well as your legal fees.
- Additional living expenses: If you are unable to stay in your rental while it is being repaired after a covered loss, additional living expenses coverage pays for a hotel or rental, as well as other living expenses.
- Identity theft coverage: This helps pay for the cost of replacement cards, IDs and securing your identity.
- Valuable articles coverage: You could purchase higher limits for belongings of higher value.
- Personal property replacement cost protection: This helps pay for new versions of your items.
Renters insurance is among the cheapest forms of insurance you can get. Safeco does not offer many discounts for renters insurance, but you could easily fit renters insurance into your budget since it is generally low-cost. Here are the ways you can save with Safeco:
- Multi-policy: Bundle vehicle insurance with renters coverage for a discount.
- Pay-in-full: Pay your entire annual or semi-annual premium in advance to earn potential savings.
Safeco ratings, reviews, customer satisfaction and complaints
When it comes to Safeco insurance reviews, Safeco’s scores tend to be lower than average. However, the company stands out for its great financial strength, with an ‘A’ rating from A.M. Best.
Safeco’s 2020 J.D. Power scores range from average to poor, depending on the study you look at. For home insurance, Safeco earned 802 out of 1,000 customer satisfaction points. The company scored slightly better in select regions of the J.D Power Auto Insurance Study, with a range of 780 to 837 points. Of mid-size insurers scored in the insurance shopping story, based on customers who requested a quote from a company within the past nine months, Safeco ranked at the bottom of the list.
|Organization & Rating Type||Safeco Rating|
|J.D. Power 2020 (Auto)||Varies by region|
|J.D. Power 2020 (Renters)||NR|
|J.D. Power 2020 (Home)||802 / 1,000|
|J.D. Power 2020 (Insurance Shopping Study)||838 / 1,000|
Top reasons to consider Safeco
While Safeco insurance customer service does not have top ratings, it may still be a great option for some people, particularly individuals who are looking for a low rate. Safeco is known for offering affordable premiums for most types of insurance, and they also have a few discounts.
Although policies are generally low-priced, receiving claims payouts down the road may be challenging. Some people have expressed dissatisfaction with the Safeco insurance claims process. However, the company does offer a mobile app that makes the Safeco insurance claims process fairly simple with quick on-the-go service.
If you are comfortable with handling your policy online and see insurance as a last resort for costly emergencies, cheap coverage through Safeco may be all you need. The carrier could provide affordable coverage to policyholders who do not require frequent claims processing or reimbursements, which may require persistence to receive.
Additional policies offered by Safeco
While Safeco is known for its car and home insurance, it offers many other insurance coverage options, including:
- Boat and watercraft insurance
- Motorcycle insurance
- RV, trailer and motorhome insurance
- Condo insurance
- Landlord insurance
- Pet insurance
Frequently asked questions
How do I file a Safeco insurance claim?
Safeco makes filing a claim easy. You could file your claim 24/7 on its website by logging in, oy you could give Safeco a call to begin the process.
How do I get a Safeco insurance quote?
You can get a Safeco insurance quote by visiting its website and answering a few simple questions. You may also call a Safeco agent to request a personalized quote.
Should I bundle my car and home insurance?
Bundling your car and home insurance from Safeco is a simple way to save big. Policyholders could earn up to 15% off their premiums for combining policies.
How can I find an independent agent?
Simply enter in your ZIP code on the Safeco website and find an agent near you to get started with a policy or discuss your options further.