Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards.
Bottom line: Safeco is a good option if you’re looking for an affordable provider for , but its policies can get costly. Safeco also ranks below (or not at all) the industry average for customer satisfaction across all products.
Safeco is a subsidiary of Liberty Mutual insurance — one of the largest insurance providers in the nation. Safeco ranks #12 in J.D. Power’s auto claims satisfaction survey, and scores 871 points on a 1,000-point scale, below the industry average of 880.
Safeco‘s discounts are quite limited. It offers savings for being claims-free for six months and will waive any premium increase on your policy for your first accident. If you’re interested in learning more about saving opportunities at Safeco, contact a Safeco insurance representative.
Most auto insurers offer four primary coverage types: comprehensive, collision, liability (required by most states), and full coverage. Your lender may require comprehensive collision coverage if you lease and finance your car.
Safeco‘s auto insurance rates are costly, for drivers with a clean record, a DUI, an at-fault accident on record, and a speeding ticket. It is also significantly more expensive than the national average, according to data from Insurify — an independent insurance shopping tool. However, rates will vary based on driving record, car usage, location, age, gender, the car you drive, and a host of other factors, according to the Insurance Information Institute (III). To get an accurate quote visit Safeco insurance.
Safeco ranks #16 in J.D. Power’s homeowners insurance customer satisfaction survey. It scores 810 points on a 1,000-point scale, below the segment average of 825.
Safeco homeowner insurance offers discounts for bundling your insurance policies and installing home safety devices. You can also get a discount for purchasing umbrella insurance or having a newer home. Safeco also offers coverage for your repairs for your home electrical and mechanical systems at an extra charge and will connect you to their network of home service professionals.
Homeowners insurance protects your dwelling, personal belongings, and offers personal liability coverage for injuries that happen on your property.
Based on 1,198 quotes generated by Insurify, the average cost for a Safeco homeowners insurance policy is $836 a year. The average annual premium in the United States in 2019 was $1,272, according to the most recent data from the Insurance Information Institute.
Safeco’s home insurance is generally cheaper than the national average and its competitors. However, your homeowners insurance premium will be based on a variety of factors including your home’s value. Be sure to speak to a Safeco agent to obtain an accurate quote.
Safeco doesn’t rank in J.D. Power’s renters insurance customer satisfaction survey.
Safeco offers discounts for bundling insurance products and paying your policy in full. Safeco also has a personal property floater which gives you extra coverage for high-valued items like a expensive jewelry.
Like homeowners insurance, Safeco offers coverage for your repairs for your home electrical and mechanical systems at an extra charge, and will connect you to their network of home service professionals. To obtain a quote from Safeco, speak to an independent agent.
Renters insurance will cover your personal property in the event of damage and theft. Your landlord is responsible for insuring the building and structure. A renters insurance policy has three main parts: personal property coverage, personal liability coverage, and “loss of use” coverage.
While many insurance companies offer pet insurance through providers that specialize in pet insurance like Embrace or Trupanion, Safeco has its own pet insurance policy. Safeco offers accident and illness, and preventative coverage at an additional cost.
Here are some of the options you can customize your policy with:
Speak to an insurance agent to obtain a quote and to inquire about discounts that you may qualify for. Most pet owners qualify for savings if they insure multiple pets.
Pet insurance usually offers two types of coverage: accident-only and accident and illness coverage. Wellness plans are usually available for additional purchase.
Accident-only coverage only reimburses the cost of injuries your pet suffers as a result of an accident. Accident and illness policies cover both accidents and sickness or diseases your pet develops after your policy begins. No pet insurance carrier covers pre-existing conditions.
*Curable pre-existing conditions may qualify for coverage
Safeco and Erie Insurance are both providers that offer auto, homeowners, and renters insurance. However, Safeco offers pet insurance while Erie does not and Erie offers life insurance but Safeco does not. Erie Insurance ranks higher than Safeco in both auto and homeowners insurance customer satisfaction and also ranks higher in terms of financial strength. Erie is also the cheaper option for auto insurance, but it’s slightly more expensive for homeowners insurance.
Safeco and Amica both offer auto, homeowners, and renters insurance. Safeco does not offer life insurance. Amica ranks higher than Safeco in both auto and homeowners insurance customer satisfaction and also ranks higher in terms of financial strength. Amica is also the cheaper option for auto insurance.
Among all policy types, the NAIC Complaint Index shows that Safeco has significantly more complaints compared to other top insurance companies. The National Association of Insurance Commissioners (NAIC) is an insurance regulatory organization that protects consumer interests. The complaint index compares a company’s performance to other performance of other providers in the industry.
Safeco’s financial stability is good, with an AM’s Best rating of A (Excellent). AM’s Best is a credit rating agency that assesses an insurance company’s ability to pay claims to its policyholders. A company that receives an A++ to B+ is stable in financial strength, while anything lower than a B means that a company is unstable or unable to meet its financial obligations.
While Safeco is a legitimate insurance provider, it’s important to do your own research to ensure that Safeco is the right insurance company for you.
Safeco offers insurance services in 32 states: Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Tennessee, Utah, Virginia, West Virginia, Wisconsin, and Wyoming.
To obtain a quote for Safeco insurance, you must get in touch with a Safeco insurance representative. You can use Safeco’s independent agent locator to find an agent near you.
On your Safeco account, you can:
Disclosure: This post may highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team. Read our editorial standards.
Business Insider may receive a commission from Media Alpha when you click on auto insurance quotes, but our reporting and recommendations are always independent and objective.