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Safeco Insurance Review 2016

Bridget Sielicki

Safeco has provided personal insurance for almost 100 years. It currently offers a mix of coverage options for anyone looking to cover a home, automobile, boat, RV and a number of other possessions. Founded in 1923 as the General Insurance Company of America, it got its name in 1953 when “The General” created a subsidiary called Selective Auto and Fire Insurance Company of America (SAFECO). When that subsidiary’s success skyrocketed, The General dropped its proprietary name altogether to adopt the Safeco brand.

In 2008, Safeco became a part of the Liberty Mutual Insurance family, one of the nation’s top insurance providers. Today, auto and home insurance are Safeco’s two most popular items. The company’s auto division ranked 11th out of 25 companies in a 2015 J.D. Power customer satisfaction survey. While Safeco does offer plenty of discount options for you, it doesn’t give you the option to file a claim online. It also doesn’t offer a life insurance comparison tool, but you can obtain a quote online from Safeco’s official website. Read on to learn more about how Safeco stacks up in the insurance industry.

Safeco Auto Insurance

Safeco has protected cars and drivers with its auto insurance policies for over 85 years. You can expect Safeco car insurance rates to vary by state, but it’s easy for you to get an online quote estimate for different coverage levels, depending on the type of insurance you need. Safeco then refers your particular quote to a local Safeco agent, who helps tailor the policy to your individual needs.

When you choose Safeco, you can build your own specialized policy from a variety of coverage options. Popular coverage add-ons include:

  • Roadside assistance
  • Rental car reimbursement
  • Emergency assistance package
  • Loan and lease coverage
  • Electronic key and lock replacement
  • New car replacement
  • CD and DVD replacement
  • Audio-visual and custom equipment coverage
  • Personal property coverage
  • Pet coverage

Most of these add-ons cover the loss of an item due to theft or damage in an accident, but you can also expect them to increase the amount of the premiums you pay.

Safeco offers several discount incentives for its auto and home insurance holders, including the following:

  • You can get up to 15% off of your premium by combining your home and auto insurance policies.
  • The Safeco Safety Rewards program gives discounts if you have a safe car, have a clean driving record, or take an accident prevention course.
  • If you don’t drive often, you can get a low mileage discount of up to 20% off of your premium.
  • You get a discount for insuring multiple cars on the same policy.
  • If you own your own home, you may also be eligible for a discount.
  • If your home is fewer than 10 years old, you may qualify for Safeco’s New Home Discount.
  • Teen drivers get special benefits and discounts through the Teen Safety Rewards program.
  • In certain states, you can get a discount for anti-lock brakes.
  • Safeco also offers discounts on cars with anti-theft devices.

Each Safeco car insurance policy comes with up to $10,000 in coverage for reimbursement if first aid is administered to others after an accident. Safeco offers several unique policy perks, including accident forgiveness if you drive for a set number of years without an accident or violation. It also offers a “Diminishing Deductible” incentive. If you remain claim-free, Safeco reduces your collision deductible by $100 every time you renew your policy annually, up to a maximum discount of $500.

Safeco Home Insurance

Safeco homeowners insurance covers your house in the event that it needs to be rebuilt or needs repairs stemming from eligible damage. Covered property types include your home, materials next to your home used for construction or repairs, carpeting, built-in appliances, fixtures, fences, driveways and walkways. Safeco homeowners insurance also protects your personal property and belongings, even when those belongings aren’t on your property at the time of damage. Finally, this type of policy also protects people who come to your home. If a guest gets injured in your house or your yard, your homeowners insurance protects you against property damage claims and litigation.

Each home insurance policy comes with a selection of policy add-ons, including:

  • Identity recovery to help cover the cost of restoring your identity if you’re the victim of identity theft
  • Valuable articles coverage, which protects collectibles such as jewelry, art and antiques at an agreed dollar amount with no deductible
  • Equipment breakdown coverage, which replaces a covered appliance with an Energy Star-rated appliance in the event of unexpected breakdown

Safeco also offers a single loss deductible benefit. If you combine your home and auto policies in a Safeco package, you can pay one deductible if both your car and home are damaged in the same event, while the other deductible is waived. For instance, if a tree falls on both your house and your car in a storm, you pay the homeowners insurance deductible but not the auto insurance deductible.

Safeco Renters Insurance

Safeco renters insurance is an alternative option if you want protection for your personal property but don’t own your own home. When you rent, your landlord is not responsible for covering your belongings if an event such as a fire or theft damages or destroys them. Renters insurance covers your personal belongings from damage and theft, and it also provides protection if you’re held legally responsible when another person is injured in or around your rented home.

As is the case with Safeco’s home insurance, your possessions are covered even if you take them on a road trip. Renters insurance also helps you pay for the cost of temporary housing for up to 24 months if your building is deemed uninhabitable after a covered loss. Additional renters insurance add-ons include identity recovery, valuable articles coverage and personal property replacement cost protection.

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved.
Published September 6, 2016
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