Safeco Insurance review 2023
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At a glance
About Bankrate Score
Policyholders who value personalized coverage, robust digital capabilities and bundling their insurance products might consider Safeco as their company of choice.
Numerous auto and home endorsements
Strong digital tools for policy management
Robust community support program
Below-average J.D. Power scores
Higher NAIC complaint index scores
No online quote option
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 4.2 out of 5.0 Bankrate Score for its third-party industry ratings and other attributes.
While the carrier offers robust coverage options and strong digital tools, Safeco did receive a below-average claims satisfaction score from J.D. Power, and has a slightly higher-than-baseline complaint index with the 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, diminishing deductibles 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% of your policy premium back for every six months that you go without an accident, up to 5% each year.
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.
Safeco car services
Safeco has a Guaranteed Repair Network. If you get your vehicle fixed at one of the participating shops after an accident, your repairs will be covered by the Safeco’s President’s Guarantee.
In addition to standard vehicle insurance, Safeco also offers insurance solutions for motorcycles, classic cars, recreational vehicles, ATVs and other off-road vehicles, as well as golf carts and other low-speed motorized vehicles.
Safeco home insurance
Just 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 3.7 out of 5.0 Bankrate Score, mainly due to Safeco’s lower-than-average J.D. Power Home Insurance Study customer satisfaction score and poorer-than-baseline home insurance NAIC complaint index.
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 that’s available 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.
Safeco home insurance discounts
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 home services
Safeco also offers insurance coverage for renters, condo owners and landlords. The carrier also offers a home warranty option, which could help protect your finances from situations that standard home insurance isn’t designed to cover.
Other Safeco perks worth considering
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:
- Identity recovery
Safeco corporate sustainability
Safeco maintains a strong connection to local communities. The carrier showcases three distinct ways that it supports philanthropic ventures. Safeco’s Independent Agent Giving program allows agents to help Safeco know where to lean into individual communities. The Make More Happen blog chronicles the charitable work of agents and the company as a whole. Finally, the Serve with Liberty program partners Safeco employees with Liberty Mutual employees to create a strong volunteer effort, such as planting gardens and building homes.
Not sure if Safeco is right for you? Consider these alternatives
When you’re shopping for coverage, getting quotes from several car insurance carriers can be an effective strategy for comparing rates, coverage, discounts and third-party scores.
If you’re considering Safeco, but want to explore other insurers, you may find quotes from these insurance providers worth comparing:
- Auto-Owners: Available in 26 states, Auto-Owners offers robust coverage options and competitive average rates.
- Allstate: 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.
- State Farm: State Farm is the largest property and casualty insurance company in the country by market share, and stands out as a company with a proven track record for customer service and superior financial strength.
Bankrate Scores methodology
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.