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Safeco insurance review 2024

Updated Jan 12, 2024
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At a glance

3.8
Rating: 3.8 stars out of 5
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Rating: 4.3 stars out of 5

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Rating: 4 stars out of 5

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Rating: 5 stars out of 5

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Rating: 4.2 stars out of 5

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Rating: 3.3 stars out of 5

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Cost & ratings

Rating: 2.2 stars out of 5

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Rating: 5 stars out of 5

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Rating: 3.8 stars out of 5

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About Bankrate Score

Bankrate's take

Policyholders who value personalized coverage and bundling their insurance products might consider Safeco as their company of choice.

Owned by Liberty Mutual, Safeco may be an attractive option for those looking to take advantage of its wide coverage options and manage multiple policies in one place. 

Answer a few questions to see personalized rates from top carriers

Safeco car insurance

Safeco car insurance might be a good choice for drivers who prefer working with local agents for coverage and who are looking for a policy that can be highly personalized. Safeco earned a 4.3 out of 5.0 Bankrate Score for its third-party industry ratings and other attributes.

While the carrier offers robust coverage options, Safeco did receive a slightly above-average claims satisfaction score from J.D. Power, and has a slightly higher-than-baseline complaint index with the National Association of Insurance Commissioners (NAIC) for its private passenger auto product. While AM Best designated Safeco with an A (Excellent) financial strength rating, higher financial strength ratings are common among other major insurers. If you are considering Safeco in your search for the best car insurance company for your needs, these comparison points may be useful.

Safeco offers standard coverage options, like liability, uninsured motorist, comprehensive and collision, and plenty of optional coverage add-ons to round out your policy. These include new vehicle replacement, rental car reimbursement and 24-hour roadside assistance coverage. Safeco also includes a few perks on its standard auto policies. Through the Claims Free Cash Back program, you could get up to 2.5 percent of your policy premium back every six months you go without an accident, up to 5 percent each year.

Pros and cons of Safeco car insurance

Part of car insurance shopping is reviewing carriers to ensure they offer what you need. Here are some pros and cons when it comes to Safeco car insurance:

Pros
  • Variety of add-on coverage options

  • Claims-free cash back program could be ideal for drivers who want to save

  • RightTrack available to drivers who want to track real-time driving behavior for potential discounts 

Cons
  • The company’s auto insurance product has a higher-than-average complaint index with the National Association of Insurance Commissioners (NAIC)

  • Rated below average by J.D. Power for customer satisfaction

  • May have fewer discount opportunities than other carriers

Safeco car insurance cost 

Average cost figures for Safeco car insurance policies are unavailable, so reaching out for a quote may be the best way to estimate how much your annual premium may be. Ideally, you’ll want to have car insurance quotes from more than one company, as comparing car insurance carriers will help you determine which will give you the most affordable rate. 

Additionally, knowing a few different figures could be useful for comparison purposes. For example, the national average cost of car insurance is $2,545 per year for full coverage and $741 per year for minimum coverage. If you are looking for cheap car insurance, your actual premium may vary based on driving record, coverage selection, location and more.

Safeco car insurance discounts

Safeco doesn’t list much information about its car insurance discounts online. However, the carrier does note a few fairly standard ways to save on your auto insurance premium, such as safe driver and safety features discounts.

In addition, as a Liberty Mutual company, Safeco offers a telematics program called RightTrack. The program tracks your driving habits via a mobile app (New York drivers use a plug-in device). Based on the data that Safeco gets from the app or device, you could earn a personalized discount.

  • Safety features: Certain vehicle safety features, like anti-lock brakes or anti-theft devices, may earn you a discount.
  • Multi-car: If you insure multiple vehicles with Safeco, you may qualify for a discount.
  • Safe driver: If you maintain a clean driving record for a certain number of years, you might be eligible for a discount.
  • Good student discount: Parents with students who maintain a GPA of 3.0 or higher and are listed on their policy, could be eligible for a discount.

Get personalized auto insurance quotes

Answering a few quick questions to check your availability with Safeco
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Safeco home insurance

Like its auto insurance, Safeco home insurance could be a good fit for homeowners wanting personalized coverage. The carrier’s home insurance product received a middle-of-the-road 3.3 out of 5.0 Bankrate Score, mainly due to Safeco’s below-average J.D. Power Home Insurance Study customer satisfaction score. However, the company had fewer customer complaints than the home insurance NAIC complaint index baseline.

However, Safeco’s home insurance options are robust. If you are looking for the best home insurance company for endorsements, Safeco’s quotes may be worth including in your search. The Guaranteed Repair Network feature on auto insurance also extends to a network of approved contractors for home damage. You could also consider identity theft coverage, equipment breakdown coverage or service line coverage for greater financial protection.

Pros and cons of Safeco homeowners insurance

Pros
  • Long list of optional endorsements to personalize your home insurance coverage

  • Fewer customer complaints than the average NAIC Complaint Index

  • Generous bundling discount available

Cons
  • Performed below average in J.D. Power’s Home Insurance Study for customer satisfaction

  • Online quotes are unavailable 

  • Customer service hours may be limited to business hours

Safeco home insurance cost

The average cost of homeowners insurance throughout the nation is $1,759 per year for $250,000 in dwelling coverage. Safeco’s average home insurance rates may not be available, but a quote is the easiest way to get an idea of how much a policy might cost you. Keep in mind that your chosen coverage amounts, home location, claims history and more could affect your final premium, especially if you’re looking for cheap home insurance.

Safeco home insurance discounts

During your Safeco home insurance review, it can be beneficial to explore the range of discounts the company typically offers.  Safeco offers its policyholders a few ways to save on home insurance. Included in Safeco’s home discounts are savings for bundling your auto and home insurance, installing protective devices like a security system, owning a newer home or getting a quote prior to your desired coverage date.

  • Safeco Package: If you bundle your auto policy with a Safeco home policy, you may save up to $810.
  • Protective devices: If your home is equipped with a burglar alarm or sprinkler system, you may earn a discount.
  • New home discount: If your home is brand new or less than 10 years old, you could qualify for this discount.
  • Multiple policy discount: Bundling an umbrella policy with your home insurance may open another opportunity for discounts.

Get personalized home insurance quotes

Answering a few quick questions to check your availability with Safeco

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
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Compare Safeco with other insurers

Our Safeco Insurance review looks at the company’s auto and home insurance products, as well as some additional perks, to help you decide if the company is right for your insurance needs. If you’re still on the fence about Safeco, consider these alternatives: 

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Safeco

Safeco
Rating: 3.8 stars out of 5
3.8
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Cost & ratings

Rating: 3.1 stars out of 5
3.1

Coverage

Rating: 5 stars out of 5
5.0

Support

Rating: 4 stars out of 5
4.0

Auto-Owners

Auto-Owners
Rating: 4.5 stars out of 5
4.5
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Cost & ratings

Rating: 4.8 stars out of 5
4.8

Coverage

Rating: 4.2 stars out of 5
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Rating: 4.2 stars out of 5
4.2

Allstate

Allstate
Rating: 4.1 stars out of 5
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Cost & ratings

Rating: 3.8 stars out of 5
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Coverage

Rating: 4.5 stars out of 5
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Rating: 4 stars out of 5
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OVERVIEW
Info
Available in 26 states, Auto-Owners offers robust coverage options and competitive average rates. The carrier also stands out for its bundling option for home and auto insurance, which could allow for a reduced deductible if one incident, such as a windstorm or fire, damages your car and home.
Allstate could be a good choice if you are looking for a company with a full suite of discounts to help you control your premium. Similar to Safeco, Allstate also offers a telematics option with Drivewise. Allstate drivers may be able to earn extra savings on car insurance, but the program and its reward options are open to all drivers.
STANDOUT FEATURES
Info
Badge
Offers diminished value coverage
Loan
Discounts for young drivers
Add Card
Life and auto policy bundling
Auto Car Guides
Safe driving rewards
Online Reviews
Strong mobile and online tools
Document
Teen driving training program
AVG FULL COV. AUTO RATE
Info
$1,646 $2,936
JD POWER AUTO SCORE
Info
865/1000 889/1000
AVG HOME RATE
Info
$1,384 $1,600
JD POWER HOME SCORE
Info
834/1000 809/1000
AM BEST RATING
Info
A++(Superior) A+(Superior)

Is Safeco a good insurance company?

Safeco is a Liberty Mutual company that offers an array of personal insurance products. The company gives policyholders the ability to personalize coverage with a suite of auto and home endorsements and discounts. However, Safeco gets mixed reviews when it comes to digital tools and customer service. 

Safeco customer satisfaction

Reading Safeco insurance reviews and evaluating Safeco customer satisfaction might be crucial if you prioritize a good customer experience. Referring to third-party agencies like J.D. Power and the NAIC complaint index could be useful in getting an overview of how companies rank against each other. Locally, you can also speak with current policyholders to get a sense of their experience with the company and local agency. Below you can see some general customer satisfaction and financial strength metrics as well as more auto- and home-specific scores and ratings for Safeco.

Study or Rating Agency Safeco Industry average
2023 J.D. Power Digital Experience Study - Service 707/1,000 702/1,000
2023 J.D. Power Digital Experience Study - Shopping 511/1,000 521/1,000
AM Best rating A (Excellent) N/A

Safeco auto insurance ranked above average in J.D. Power’s 2023  U.S. Auto Claims Satisfaction Study, indicating that policyholders were generally happy with their claims experience. Results for the 2023 Digital Experience Study were mixed. Safeco scored above average for digital service, but was a solid ten points below the industry average for digital shopping.

J.D. Power Auto Claims Satisfaction Study

Safeco customer complaints

When evaluating Safeco's customer satisfaction, one useful metric is the NAIC complaint index. This index offers a standardized measure to gauge the number of complaints an insurance company receives relative to its size. A baseline index of 1.00 represents the industry average. Therefore, an index higher than 1.00 typically indicates more complaints than average, while a score below 1.00 suggests fewer.

It's important to note that the NAIC adjusts these indices based on product type, reflecting the specific nature of complaints in different insurance categories. This differentiation allows for a more nuanced understanding of an insurer's performance in areas like car and home insurance. Safeco's index may vary across these categories, providing insights into customer experiences and satisfaction levels in different insurance products.

Safeco's complaint-based performance in auto insurance is reflected in its NAIC private passenger auto complaint index score, which was 1.24 in 2022. This score, slightly above the industry average baseline of 1.00, indicates a higher-than-average number of customer complaints. While this provides an insight into Safeco's customer satisfaction in auto insurance, it's one of several factors to consider when assessing their services.

In the homeowners insurance sector, Safeco's 2022 NAIC homeowners complaint index score was 0.75. This score is below the industry average baseline of 1.00, suggesting that Safeco received fewer customer complaints than average in this category. While this score is a positive indicator of customer satisfaction in their homeowners insurance offerings, it's essential to consider it as part of a broader assessment of Safeco's overall service quality and reliability.

Other Safeco tools and benefits

Safeco’s financial protection options extend beyond just vehicle and property coverage. If you’re considering the carrier and want to bundle all your policies, you should know that Safeco also offers the following coverage types:

  • Motorcycle insurance: With Safeco’s motorcycle insurance, 24/7 roadside assistance comes standard with your policy. 
  • Classic car insurance: Safeco insures classic vehicles on an agreed value basis. Plus, if you drive less than 5,000 miles per year, you could save on your policy.  
  • Recreational vehicles: This policy can protect both your personal property in your RV and aftermarket audio and visual equipment. 
  • ATV and off-road vehicle insurance: Safeco’s ATV insurance policy includes bodily injury liability, guest passenger liability, property damage liability and gear replacement coverage. 
  • Renters insurance: You may get a discount if you bundle your renters insurance policy with an auto policy from Safeco.
  • Condominium insurance (accordion): This HO-6 policy comes with personal property, liability, dwelling and additional living expenses coverages. You may also add scheduled personal property coverage for valuable items.  
  • Landlord insurance (accordion): Safeco can insure up to 16 rental units, but coverage may not be available in all states.
  • Home warranty (accordion): Safeco offers home warranties through American Home Shield. Warranties are available even to non-Safeco customers — but customers may save up to $50. 

Frequently asked questions about Safeco

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quotes analyzed

Bankrate utilizes Quadrant Information Services to analyze February 2024 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Auto insurance rates are weighted based on the population density in each geographic region.

Auto

Bankrate utilizes Quadrant Information Services to analyze the latest rates in February 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. Rates include the most recent approved rate changes filed by insurance companies that affect our profile. These revised rates are then weighted based on the population density in each geographic region so that policyholders can see the impact rates have in their areas. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16-20 added to their parents' policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.

Homeowners

Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Score

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.




Written by
Natalie Todoroff
Writer, Insurance

Natalie Todoroff is an insurance writer for Bankrate, prior to which she wrote for a popular insurance comparison shopping app. She has a Bachelor of Arts in English and has written over 800 articles about insurance throughout her career.

Edited by Senior Editor, Insurance