Safeco Insurance Review 2021 – NerdWallet


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Lacie Glover
  • Safeco customer satisfaction ratings are average for auto and home insurance claims.
  • Less than expected number of customer complaints received, relative to size, for motor insurance.
  • Offers multi-state ride sharing insurance.

Safeco Insurance sells personal auto, home owner and specialty insurance products. Safeco’s parent company, Liberty Mutual, is an insurance giant – the sixth largest seller of auto insurance.

Safeco car insurance

Safeco auto insurance earned 4 out of 5 stars for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing and discounts, the ease of filing a claim, website transparency, financial standing, National Association of Insurance Commissioners’ complaint details, and more.

” MORE: Car Insurance Quotes: What You Need to Know

Safeco’s policy includes these unusual features that set it apart from most insurers:

  • First aid allowance up to $ 10,000 for first aid after an accident.
  • Forgiveness of accidents: After a certain number of years without accidents or violations, Safeco will not increase your rates after your first accident.
  • Own risk: If you don’t file an auto insurance claim, Safeco will lower your collision deductible by $ 100 each year, down to $ 500 or five years.

In addition, you can choose from a variety of coverage options, if available in your country, including:

  • Rideshare coverage: If you drive for a company like Uber or Lyft, your personal policy will be suspended while you use the app. Meanwhile, the insurance of the car pool company between trips is limited. Safeco can cover the gap for less than $ 10 a month for most drivers in states where this coverage is available.
  • Replace new car: If your car has been added up or stolen and is less than a year old, Safeco will pay to replace it with a comparable new car.
  • Personal property coverage pays out if your belongings are damaged in an accident or stolen from your car. Usually this is covered by tenants or insurance for homeowners if you have it.
  • Emergency aid package includes roadside assistance and personal property protection, plus up to $ 100 for expenses and up to $ 500 for meals, accommodation, and transportation if you have an accident more than 25 miles from home.
  • Gap coverage: If your car is added up or stolen, Safeco will pay the difference between the remaining amount of your loan or lease and the value of your car.
  • Replace electronic key and lock pays to replace lost or stolen electronic keys, remotes and locks at no deductible.
  • CD and DVD replacement pays off when your audiovisual media such as DVDs, CDs and videotapes are damaged or stolen.
  • Coverage of custom equipment will protect equipment that is not factory or dealer installed, including permanently installed audiovisual equipment, a modified or modified engine, roll bars, modified wheels, murals and decals.
  • Cover for pets pays veterinary expenses or a death benefit if your cat or dog is injured or dies in a collision.

” MORE: Compare car insurance rates

Safeco car insurance discounts:

  • Discount for multiple policies (bundling).
  • Discount for safe drivers.
  • Discount on the accident prevention course.
  • Discount for using Teen Safety Rewards, a collection of tools created to keep your teen driving safely.
  • Discount for several cars.
  • Discount for driving a few annual kilometers.
  • Discount for adding an anti-theft device to your vehicle.
  • Discount anti-lock brakes.
  • Discount for owning your own home.

The RightTrack program: In some states, you can get a discount if you allow Safeco to track your driving for 90 days through an app or a plug-in. The program keeps track of behavior such as braking hard, driving in the dark and the total number of kilometers driven. A discount is guaranteed only for completing the program, and safe drivers can save up to 30%.

” MORE: Where you can take out ride insurance and what it covers

Safeco home owner insurance

Safeco offers standard insurance for homeowners and customers can choose to purchase additional options such as:

  • Identity recovery: For $ 1 a month, if you’re a victim of identity theft, it will reimburse you for costs associated with restoring your identity, such as lost pay for time spent solving the problem, up to $ 25,000.
  • Valuable item coverage: Insures jewelry, fine art, antiques, collectibles and valuable items you specify up to an agreed dollar amount. There is no deductible.
  • Equipment failure coverage: For $ 2 per month, this coverage replaces a device with an Energy Star rated device of “similar and quality” if it exhibits an unexpected mechanical or electrical failure not caused by normal use.
  • Replacement costs for personal belongings: Helps pay for new items to replace your belongings that have been damaged, lost or stolen, regardless of age or condition.
  • Deductible for one-time loss: If you insure your home and car with Safeco, you can only pay one deductible if both are damaged during the same event, such as a tree falling on your garage.

Discounts on Safeco home insurance:

  • Multi-policy (bundling) discount if you combine your home and car policy; additional discounts are available if you also have other policies.
  • Discount if your home is less than 10 years old.
  • Discount for paying your bill in full instead of monthly installments.

Safeco complaints and customer satisfaction

According to three years of data from the National Association of Insurance Commissioners, Safeco had fewer complaints relative to its size than expected with national auto and home insurance regulators.

Safeco scored below average across the board for home and auto insurance according to JD Power’s customer satisfaction surveys in 2020.

More about Safeco

Website: The Safeco site is easy to navigate and you can track a claim, request a quote, pay your invoice and view or download policy documents. If you prefer the personal touch of a broker, you can find it through the Safeco website.

Mobile app: With the Safeco app you can log in and manage your policy, pay bills, view the status of a claim and more.

Alexa: Use Alexa’s ‘insurance advisor’ skill from Safeco to test your risk knowledge, find an insurance agent and learn more about insurance coverage.

Summary: Safeco pros and cons

Motor insurance methodology

NerdWallet’s auto insurance ratings reward companies for customer-centric features and practices. Reviews are based on weighted averages of scores in various categories, including financial standing, consumer complaints, website transparency and affordability. With our editorial discretion, we also take customer satisfaction surveys into account. These ratings are a guideline, but we recommend that you shop around and compare different insurance quotes to find the best rate for you. NerdWallet does not receive compensation for reviews. Read our editorial guidelines.

Complaints methodology for insurers

NerdWallet investigated complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare, the NAIC calculates a complaints index for each subsidiary each year, measuring the proportion of total complaints in proportion to the size or share of total industry premiums. To evaluate a company’s complaint history, NerdWallet calculated a comparable index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance policies.

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