Safeco Insurance 2021 Review – NerdWallet
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- Safeco customer satisfaction ratings are average for auto and home insurance claims.
- Received less than expected number of customer complaints, relative to its size, for auto insurance.
- Offers carpooling insurance in several states.
Safeco Insurance sells auto, home and specialty insurance products. Safeco’s parent company, Liberty Mutual, is an insurance giant – the sixth largest seller of auto insurance.
Safeco auto insurance
Safeco auto insurance was awarded 4 out of 5 stars for its overall performance. NerdWallet ratings are determined by our editorial team. The scoring formula takes into account prices and discounts, ease of filing a claim, website transparency, financial strength, complaint data from the National Association of Insurance Commissioners, etc.
Safeco policies incorporate these unusual features that set it apart from most insurers:
- Reimbursement of first aid up to $ 10,000 for first aid after an accident.
- Accident forgiveness: After a certain number of years without an accident or violation, Safeco will not increase your rates after your first accident.
- Reduction of the deductible: If you don’t make an auto insurance claim, Safeco will reduce your collision deductible each year by $ 100, up to $ 500 or five years.
Additionally, you can choose from several coverage options if available in your state, including:
- Carpool coverage: If you drive for a business like Uber or Lyft, your personal policy is suspended while you use the app. During this time, the insurance of the rideshare company is limited between trips. Safeco can cover the gap for less than $ 10 per month for most drivers in states where this coverage is available.
- Replacement of a new car: If your car is totaled or stolen and is less than a year old, Safeco will pay to replace it with a new comparable car.
- Personal property coverage pays if your belongings are damaged in an accident or stolen from your car. Typically this is covered by tenants or home insurance if you have it.
- Emergency assistance 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 are in an accident more than 40 km from home you.
- Gap coverage: If your car is totaled or stolen, Safeco pays the difference between the amount remaining on your loan or lease and the value of your car.
- Replacing the electronic key and the lock pays to replace lost or stolen electronic keys, remote controls and locks, with no deductible.
- CD and DVD replacement pays when your audiovisual media such as DVDs, CDs and video tapes are damaged or stolen.
- Custom equipment coverage will protect equipment that was not installed at the factory or at the dealership, including permanently installed audiovisual equipment, a modified or custom engine, roll bars, custom wheels, murals and decals .
- Pet blanket pays veterinary fees or a death benefit if your cat or dog is injured or dies in a collision.
” MORE: Compare auto insurance rates
Safeco auto insurance discounts:
- Multi-policy discount (bundling).
- Safe driver discount.
- Discount on accident prevention courses.
- Discount for using Teen Safety Rewards, a collection of tools created to help your teen drive safely.
- Multi-car discount.
- Reduction for driving a few annual miles.
- Discount for adding an anti-theft device to your vehicle.
- Reduction on anti-lock brakes.
- Discount for owning your own home.
The RightTrack program: In some states, you may be eligible for a discount to allow Safeco to monitor your driving for a period of 90 days via an app or plug-in. The program tracks behaviors such as hard braking, night driving and the total number of kilometers driven. A discount is guaranteed just for completing the program, and safe drivers can save up to 30%.
Safeco home insurance
Safeco offers standard home insurance coverage and customers can choose to purchase additional options such as:
- Identity recovery: For $ 1 per month, if you are the victim of identity theft, this will reimburse you for expenses related to restoring your identity, such as lost wages for the time spent dealing with the problem, up to 25 $ 000.
- Valuable Items Coverage: Insures jewelry, fine art, antiques, collectibles, and valuables you specify, up to an agreed dollar amount. There is no deductible.
- Equipment failure coverage: For $ 2 per month, this coverage replaces an appliance with an Energy Star qualified appliance of “same type and quality” if it suffers an unexpected mechanical or electrical failure that is not caused by normal use.
- Replacement cost of personal property: Help pay for new items to replace your damaged, lost or stolen goods, regardless of age or condition.
- Deductible for one-time loss: When you insure your home and car with Safeco, you can only pay one deductible if both are damaged in the same event, such as a tree falling on your garage.
Safeco home insurance discounts:
- Multi-policy discount (bundling) if you combine your home and automobile policies; additional discounts are available if you also have other policies.
- Reduction if your house is less than 10 years old.
- Discount to pay your bill in full rather than in monthly installments.
Safeco complaints and customer satisfaction
Safeco has had fewer complaints than expected from state regulators for auto and home insurance relative to its size, according to three years of data from the National Association of Insurance Commissioners.
Safeco ranks below average for home and auto insurance according to JD Power’s 2020 customer satisfaction surveys.
Learn more about Safeco
Website: Safeco’s site is easy to navigate and allows you to track a claim, get a quote, pay your bill, and view or download policy documents. If you prefer the personal touch of an agent, you can find one through the Safeco website.
Mobile app: The Safeco app allows you to log in and manage your policy, pay bills, check the status of a claim and more.
Alexa: Use Safeco’s Alexa “Insurance Advisor” skill to test your risk knowledge, find an insurance agent and learn more about insurance coverage.
Recap: Advantages and Disadvantages of Safeco
Automobile insurance rating methodology
NerdWallet auto insurance ratings reward businesses for their customer-centric features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, website transparency, and accessibility. Using our editorial discretion, we are also considering customer satisfaction surveys. These ratings are a guide, but we encourage you to shop around and compare multiple insurance quotes to find the best rate for you. NerdWallet does not receive any compensation for reviews. Read our editorial guidelines.
Methodology of insurer complaints
NerdWallet reviewed complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-18. To assess how insurers stack up against each other, the NAIC annually calculates a complaints index for each subsidiary, measuring its share of total complaints relative to its size, or the share of total premiums in the industry. To assess a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by each subsidiary’s market share, over the three-year period. The ratios are determined separately for auto, home (including renters and condominiums) and life insurance.