What’s New with Safeco Insurance?
In May 2024, Safeco announced a 10.5% rate hike for home insurance customers in California. The company also revealed plans to drop coverage and stop writing new policies for certain California homes built before 1976, citing outdated electrical systems as the primary concern.
Starting January 1, 2025, Safeco will take over personal auto and umbrella insurance lines from Columbia Insurance Group in eight states: Arkansas, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma, and South Dakota. Columbia customers with these policies will become Safeco insurance customers upon their policy renewal in 2025.
Safeco Car Insurance Review
Overview of Safeco Insurance
Safeco’s auto insurance earned a 4.3 out of 5.0 in our ratings. The high score is attributed to:
- Availability in most states
- A variety of coverage add-ons
- Generally strong financial and claims satisfaction ratings
However, customer service complaints have led to below-average satisfaction scores in J.D. Power’s 2024 U.S. Auto Insurance Study.
Financial Strength: Safeco holds an A (Excellent) rating from AM Best.
Coverage Options: Standard auto insurance includes liability, collision, and uninsured motorist coverage. Add-ons include:
- Rental car reimbursement
- New vehicle replacement
- Claims-Free Cash Back program (up to 5% premium refund for claims-free drivers)
Pros & Cons of Safeco Insurance
Pros:
- Variety of add-on coverages
- Rewards for safe drivers through Claims-Free Cash Back
- RightTrack telematics program available
Cons:
- High complaint index score with NAIC
- Below-average J.D. Power satisfaction ratings
- Discount details are not clearly advertised
Cost & Discounts
Safeco does not publicly share its average premiums. The best way to determine costs is by obtaining a personalized quote. When comparing rates, note the national average auto insurance costs:
- Full coverage: $2,670 per year
- Minimum coverage: $773 per year
Safeco Home Insurance Review
Overview of Safeco Insurance
Safeco’s home insurance provides standard coverage options, plus seven optional endorsements such as:
- Jewelry and art riders
- Identity theft coverage (starting at $1/month)
- Guaranteed Repair Network (labor and material warranty)
Despite its strong coverage options, Safeco’s home insurance received a 3.3 our Score due to below-average customer satisfaction and claims handling ratings.
Pros & Cons
Pros:
- Seven home insurance endorsements
- Guaranteed Repair Network warranty
- Generous bundling discounts
Cons:
- Low customer satisfaction and claims handling scores
- No online quote option
- Limited customer service hours
Cost & Discounts
Like auto insurance, Safeco does not publicly disclose home insurance rates. The national average for homeowners insurance is $2,258 per year for $300,000 in dwelling coverage. To find the best rate, request quotes from multiple providers.
Comparing Safeco with Other Insurers
Safeco offers competitive coverage and customization options, but its customer service ratings lag behind top competitors. Since Safeco does not share average premium costs, comparing personalized quotes from multiple insurers is essential.
Customer Reviews & Feedback
Reddit Reviews
- Positive: Some users report smooth claims experiences and competitive coverage.
- Negative: Others mention high homeowners insurance rates and mixed claims satisfaction.
YouTube Reviews
- Complaints: Customers frequently cite denied claims and dropped policies.
- Claims Handling Issues: Several policyholders report dissatisfaction with claim valuations and settlements.
Safeco Company Details
- Customer Service: Accessible online or through agents.
- Claims Filing: Online or via 1-800-332-3226.
- Glass Claims: Processed online.
- Roadside Assistance: Available 24/7 at 1-877-762-3101.
State Availability: Safeco offers auto and home insurance in most states except Alaska, Delaware, Hawaii, and Washington, D.C. Homeowners insurance is unavailable in Florida, with restrictions in some California areas.
Additional Insurance Products
Safeco Insurance also provides:
- Motorcycle Insurance: Includes standard 24/7 roadside assistance.
- Classic Car Insurance: Agreed value basis; discounts for low mileage.
- Recreational Vehicle (RV) Insurance: Covers personal property and aftermarket equipment.
- ATV & Off-Road Vehicle Insurance: Liability and gear replacement coverage.
- Renters Insurance: Discounts available when bundled with auto insurance.
Frequently Asked Questions of Safeco Insurance
How to File a Claim with Safeco?
Claims can be filed online, via an agent, or by calling 1-800-332-3226.
Is Safeco a Sustainable Company?
Safeco actively supports local communities through programs like Independent Agent Giving, Make More Happen, and Serve with Liberty, which focus on charitable work and volunteerism.
Does Safeco Insure High-Risk Drivers?
Safeco provides coverage for high-risk drivers, but eligibility depends on multiple factors like driving history and credit score.
Final Verdict: Is Safeco Insurance a Good Insurance Company?
As a Liberty Mutual subsidiary, Safeco offers solid financial backing and extensive coverage options. However, customer service and claims satisfaction remain areas of concern. If customer experience is a top priority, comparing alternative insurers may be wise before choosing Safeco.
Want to know more about other insurances, Read our latest articles.
