Disclaimer: We are not Safeco Car Insurance Company. This Safeco Car Insurance Review is designed to bring you unbiased and factual data about Safeco Insurance Company and nothing more.
This Safeco Car Insurance Review is roughly a 4-min read.
Safeco Insurance Company is backed by Liberty Mutual and one of the longer-standing companies in the United States.
We have provided an easy way to navigate this article by clicking any of the links below to go straight to any specific area that you are interested in reading more about.
- Our Safeco Car Insurance Review
- Safeco Car Insurance History and Background
- Safeco Insurance Company Financial Strength
- Safeco Insurance Company BBB Ratings and Complaints
- Safeco Insurance Company Car Insurance Coverage Options
- What Makes Safeco Car Insurance Unique?
- Discounts Available with Safeco Insurance Company
- Cost of Safeco Car Insurance
- Who Should Consider Safeco Car Insurance?
- Rideshare Coverage with Safeco
- Pros of Choosing Safeco Car Insurance
- Cons of Choosing Safeco Car Insurance
- Final Thoughts on Safeco Car Insurance
In case you were looking for a brief overview of Safeco Auto Insurance options, we wanted to be sure to provide that as well.
Here is a 30-second snapshot of Safeco Insurance Company.
Safeco is a member and of the Liberty Mutual Insurance Group and is a U.S. based insurance company.
Safeco doesn’t have the best ratings when it comes to overall customer satisfaction or pricing for car insurance products.
Additionally, Safeco only offers rideshare coverage in 14 total states in 2019.
Overall, if you are a safe driver with a clean driving history and you feel confident you may be eligible for discounts with Safeco, it may be worth running a quote for coverage with them.
If, however, you don’t meet these criteria, you can likely find the best auto insurance company by looking elsewhere in the market.
That was the quick 30-second snapshot of Safeco Insurance Company.
If you do, however, have those 4 minutes to spare, we recommend you read our entire Safeco car insurance review.
Here are the details.
Our Safeco Car Insurance Review
As stated previously, Safeco insurance is currently backed and owned by one of the most dominant insurance providers in the country.
Liberty Mutual.
Safeco Is well known as holding the naming rights to the Seattle Mariners baseball team in Safeco Field from 1999-2018.
Safeco offers various lines of insurance that include auto insurance, homeowner’s insurance, motorcycle insurance as well as recreational vehicle insurance and watercraft insurance.
Safeco currently operates on a fully independent agent model, which means you won’t find “Safeco Insurance Offices” located in your hometown or agents who work exclusively for Safeco.
This is typically regarded as a positive when it comes to purchasing insurance from the simple standpoint that independent auto insurance agents can offer you multiple options and tailor coverage to truly fit your needs.
Safeco Car Insurance History and Background
Safeco originally was founded in Seattle Washington dating back to 1923.
Originally, when Safeco was founded by Hawthorne K Dent, it was begun as the General Insurance Company of America.
In 1953, Safeco expanded into offering other lines of insurance and founded the Selective Auto and Fire Esurance Company of America.
Safeco continued to run on this property and casualty model up until the early 2000s when major restructuring began to take place involving General Electric Company and Liberty Mutual Insurance Company.
Safeco Insurance Company Financial Strength
When looking at Safeco’s Financial Strength, it’s essential to keep in mind that the parent company of Safeco is the financial strength rating that matters.
This is currently in the hands of Liberty Mutual Insurance Company.
As of 2019, Liberty Mutual is currently an A-rated company according to A.M. Best, which is considered reliable by all standards.
Safeco Insurance Company BBB Ratings and Complaints
Safeco is currently not accredited with the BBB.
As of 2019, Safeco Insurance Company is currently being provided an A- rating from the BBB and has a total 1,098 complaints in the last three years.
Out of those complaints, here’s what the major problem areas were for the company.
Advertising and Sales- 37 Complaints
Billing and Collections- 334 Complaints
Delivery Issues- 24 Complaints
Problem with Service- 686 Complaints
It’s also important to keep in that mind that when you are a property and casualty insurance company the size of Safeco, it’s not uncommon to have complaints reported.
Safeco Insurance Company Car Insurance Coverage Options
Now it’s time to cover the essential details about the car insurance coverages offered by Safeco.
Currently, you will find the standard car insurance coverage offered by Safeco that you see provided by any other primary car insurance provider in the country.
Here’s a look those common coverages.
- Bodily Injury Coverage
- Collision Coverage
- Comprehensive Coverage
- Medical Payments
- Uninsured Motorist Coverage
- Safeco Other Car Insurance Coverages Offered
In addition to the necessary car insurance coverages discussed above, Safeco also offers a few other unique or secondary auto insurance coverages as well.
Here’s a look at them.
First Aid Reimbursement- Up to 10,000 in coverage to cover first aid rendered at an accident.
Accident Forgiveness- This coverage will not count your first accident against you regardless who is deemed at fault for the accident.
Diminishing Deductible- This will ensure that you if you don’t make a car insurance claim, that Safeco will begin to reduce your collision deductible each year to a maximum of 500.00.
New Car Replacement- With Safeco, if your car happens to be totaled or stolen, Safeco will pay the full replacement cost of the vehicle.
Not the depreciated value of the vehicle.
Emergency Roadside Assistance- This allows for one-time deductions up 100.00 for expenses and 500.00 for meals and lodging if you are involved in an accident more than 25 miles away from your home.
Gap Coverage- This is very similar to total car replacement.
When your vehicle is totaled, you are provided with the claims check to cover the entire value of the vehicle.
Not the depreciated value of the vehicle.
Electronic Key and Lock Replacement- This coverage will pay to replace lost or stolen electronic keys with no deductible being required.
Custom Equipment Coverage- This Coverage will allow for you to protect additional upgrades to your vehicles such as custom wheels, sound equipment and other upgrades that did not originally come with the vehicle at the time of purchase.
Pet Coverage- This coverage is to protect against loss of money due to a pet injury if you are involved in an automobile accident while your pet is present in the vehicle.
Safeco Right Track- This coverage allows you to place a telematics driving device inside of your vehicle in order to track your driving behaviors.
With safe driving behaviors, Safeco will provide you with a 5-30% discount on your car insurance coverage.
Safeco Claims Valet Service- This service is unique too compared to other car insurance companies we have reviewed.
With Safeco, if your vehicle is involved in an accident, Safeco will have a valet driver deliver you a rental vehicle and take your damaged vehicle to the repair shop for you.
What Makes Safeco Car Insurance Unique?
Safeco car insurance is unique from a few different standpoints.
First and foremost, Safeco has a long-standing history in the car insurance industry and is backed by one of the goliath car insurance companies in Liberty Mutual.
Additionally, Safeco is also unique compared to other captive car insurance companies such as State Farm or Farmers from the standpoint that all agents selling car insurance work from the independent agent model.
Outside of these two factors, Safeco is much like all the other car insurance companies we review or see often.
They offer middle of the pack coverage with the middle of the pack pricing.
Discounts Available with Safeco Insurance Company
Safeco does have some decent discounts available to consumers who decide to run a quote and compare rates with them.
Here’s a look at those discounts.
Package Deal- Packaging multiple lines of insurance with Safeco allows you to save up to 15% on your car insurance.
Safe Driver Discount- This discount varies and can be applied to individuals with a clean driving record or who elect to take a driver’s safety course.
Teen Safety Discount- Available to Drivers age 16-21 if they elect to take additional driving courses.
Drive Less and Pay Less Discount- 20% discount for individuals who drive under the average annual miles per year.
Multiple Vehicle Discount- Discount to apply to anyone who covers more than 1 vehicle with Safeco.
Deter Thieves Discount- Discount can be applied to vehicles with anti-theft alarm systems installed.
Anti-Lock Brakes Discount- Available to anyone with a vehicle with anti-lock brakes installed on their vehicle.
Homeowners Discount- Available for individuals who combine just home and auto insurance policies under Safeco.
Cost of Safeco Car Insurance
When it comes to the cost of car insurance with Safeco, they are what we would consider “average.”
It’s a very select few that would find Safeco to be the cheapest car insurance in their area.
If you stack them up against three other major car insurance companies to compare the affordability, here’s how it pans out.
- Progressive– Most Affordable
- Farmers– 2nd Cheapest
- Safeco- 3rd Cheapest
- Allstate– 4th Cheapest
It is, however, it’s essential to understand that car insurance pricing is based on your unique background including driving history, credit history, and even the car you are looking to insure.
We always recommend comparing rates with multiple car insurance companies before ultimately purchasing car insurance coverage.
Who Should Consider Safeco Car Insurance?
Safeco is a car insurance company that’s certainly been around for a long time and is backed by one of the best in the business.
While we don’t find their platform overly user-friendly or anything eye-popping about their car insurance coverage, they are still certainly a company worth looking into and at the bare minimum, running a quote with.
Rideshare Coverage with Safeco
Rideshare coverage is an area that Safeco is beginning to expand and do a better job with.
Currently, Safeco offers car insurance coverage for uber and lyft drivers in 14 states and most report that the additional protection runs right around 10.00 per month.
Pros of Choosing Safeco Car Insurance
All car insurance companies have unique strengths and weaknesses.
When reviewing Safeco car insurance, here is what we believe to be their biggest strengths.
- Wide Range of Coverage Options
- Backed by Liberty Mutual
- Decent Rideshare Availability.
Cons of Choosing Safeco Car Insurance
On the flip side, we do find it important to consider the negatives of a car insurance company as well.
With Safeco, here are 3 major drawbacks.
- Non-User-Friendly Price Comparison Tools and Online Platform
- Limited Discounts
- Cheaper Car Insurance Companies Are Available
Final Thoughts on Safeco Car Insurance
At the end of the day, we certainly believe Safeco is worth running a quote with.
For some individuals, it may turn out to be your best option, but more times than not, you can likely find a cheaper option by comparing rates with multiple companies.
Best of luck finding the best car insurance possible!
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