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Safeco Insurance review 2022

Updated Jun. 1, 2022
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At a glance

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3.9

Bankrate Score

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Car

4.2

Home

3.7

Bottom Line

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

Pros

  • Numerous auto and home endorsements
  • Strong digital tools for policy management
  • Robust community support program

Cons

  • Below-average J.D. Power scores
  • Higher NAIC complaint index scores
  • No online quote option
Safeco is a Liberty Mutual company that offers an array of personal and commercial insurance products. The company gives policyholders the ability to personalize coverage with a suite of auto and home endorsements, provides access to robust digital tools and has a community-oriented giveback program. However, Safeco has lower-than-average J.D. Power satisfaction scores and higher-than-normal complaint index scores from the National Association of Insurance Commissioners (NAIC). Bankrate’s Safeco Insurance review might help you weigh the pros and cons of the company.
 
Safeco might not be the most well-known name in the insurance industry, but the company offers insurance products nationwide that may be a good fit for many people. Through its various underwriting companies, Safeco writes home and auto insurance policies in all 50 states and Washington, D.C. Our Safeco Insurance review looks at the company’s auto insurance and home insurance products, as well as some additional perks, to help you decide if the company is right for your insurance needs.

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.

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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.

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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:

  • Umbrella
  • Pet
  • Identity recovery
  • Commercial

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 companies 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-OwnersAvailable in 26 states, Auto-Owners offers robust coverage options and competitive average rates.
  • AllstateAllstate 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 FarmState 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.

Methodology

Bankrate Scores

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers and homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car and home insurance companies satisfy these priorities, third-party agency ratings from J.D. PowerAM BestS&PNAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers and homeowners, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry, as well as 40-year-old male and female homeowners with $250,000 in dwelling coverage. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers and homeowners may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

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