Safeco Auto Insurance ReivewThursday, 25 July 2013 22:11
Safeco Insurance, based out of Seattle, Washington, is a subsidiary of one of the top ten largest auto insurance companies in the United States and offers insurance in all 50 states through its large network of independent agents. The company is known in Seattle for purchasing the naming rights to the Seattle Mariners’ stadium, renaming it to Safeco Field. Safeco offers some exclusive discounts to its auto insurance policy holders such as its Safety Rewards and Teen Safety Rewards programs among others. The company has received average reviews for its customer support and claims satisfaction. With its wide range of insurance offerings and exclusive discounts, Safeco is a good option to look into for auto insurance seekers looking to save money.
Company Background Information
Safeco is currently owned by Liberty Mutual Group, the 7th largest auto insurer in the United States, and is based out of Seattle, Washington. The company began in 1923 under the name General Insurance Company of America and the name was later changed to the Selective Auto and Fire Ensurance Company of America (SAFECO). The first company headquarters were located in Seattle’s downtown, and today the headquarters are still located in Seattle at the University of Washington Plaza.
In April of 2008 Safeco was sold to Liberty Mutual but continues to operate as an independent company and offers personal insurance lines. The acquisition improved Liberty Mutual’s revenue substantially over the past 5 years. Safeco sells its products and services through a network of over 9,000 independent agents. The company has over 4 million members throughout the country and is known for its financial stability. It was awarded an A (Excellent) rating by A.M. Best, and was given 3 out of 5 power circles by J.D. Power in 2013 for claims satisfaction.
Pros of Safeco Car Insurance
- Financial stable subsidiary of the 7th largest auto insurer in the United States
- Several exclusive discount programs
- First aid reimbursement up to $10,000 is a complimentary add on to all of Safeco’s auto policies
Cons of Safeco Car Insurance
- Mixed customer reviews online as well as average third party customer service reviews
- Quotes may be higher than other providers in some areas
Safeco offers many discounts to its policy holders including the following:
- Package discounts are available for combining home and auto insurance.
- First aid reimbursement is included on all auto policies with no extra charge.
- Safe driving discounts are offered as a part of the Safety Rewards program.
- Those who take accident prevention courses are eligible for a discount as long as the course is approved.
- Customers who drive less can save up to 20% on their premiums.
- Multiple vehicles are discounted
- Anti-theft devices such as alarms, vehicle disablers, or other devices can reduce monthly premiums. Vehicles that are equipped with a Teletrac or LoJack security system can have their deductible waived if they are stolen while the security service is active.
- A discount in select states for anti-lock brake systems and other safety features.
- Those who own single family home, condo or townhouse are eligible for a unique homeowners discount.
Safeco also mentions on their website that the quickest way to lower a rate is to increase the deductible of the policy and paying bills in full.
Types of Insurance Offered
Aside from the standard auto coverage options including the minimum required coverage for each state, Safeco offers home and condo, boat, RV, motorcycle, umbrella, classic car, landlord protection, and renters insurance. Many of these policies can combine with Safeco’s auto insurance for discounts. The company’s auto insurance can be customized for each individual’s coverage needs. Auto coverage options include:
- Rental car reimbursement
- Emergency roadside assistance
- New car replacement
- CD and DVD replacement
- Pet coverage
- Audio and video equipment coverage
- Personal property coverage
- GAP coverage
Safeco Safety Rewards
The Safeco Safety Rewards Program offers discounts to policy holders for safe driving. Safe drivers get an annually reduced deductible up to a maximum of $500. Safeco offers accident forgiveness for the first at-fault accident on a policy if a driver follows up the accident with safe driving for a certain number of years. Drivers who are over the age of 55 who complete an accident prevention course can receive a discount on their auto insurance.
Teen Safety Rewards
The Teen Safety Rewards program is intended to reward safe teenage driving and offers tools and knowledge to help teenage drivers improve their skills. The Teen Safety Rewards program offers tips for new drivers, the Teen Safe Driver Discount, a good student discount and driver training discount.
- Good student discounts are available to teens who maintain a 3.0 or higher average or are rated in the top 20 percent of their class.
- Driving training discounts are offered to teens who complete an approved driving course.
- Loyalty reward – for policy owners who stay with Safeco for more than two years, they can add a teenage driver to their policy at a discounted rate.
Safeco also offers a parent contract on the website to help parents set obligations and responsibilities for their teen drivers. The discounts for the Teen Safety Rewards are not available in every state.
Teen Safe Driver Discount
The Teen Safe Driver Discount program uses a device to rate the safety of a teenager’s driving, and offers teenagers a way to save up to 15% more on their auto insurance. Safeco monitors the teenage driver’s skill using the device and then makes a decision on whether or not to approve them for the discount after an evaluation period. If a teenager qualifies for the discount they are eligible to keep it until their 20th birthday. The program is not available in every state.
Ratings from independent review organizations give Safeco average reviews for customer experiences, including the 2013 J.D. Power study. Many other mid-size to large auto insurers receive similar reviews. There are mixed reviews of the company online, with some people reporting difficulties with claims processing such as delays and trouble reaching customer support representatives.
Although customer reviews of Safeco’s customer service are mixed, Safeco insurance can still be a good option for insurance shoppers who happen to get an affordable quote in their area. If you happen to be looking for auto insurance now, you can input your zip code on the form on this page to get live quotes from Safeco and other insurance providers.
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|Market Share||Ranked 7th|
|AM Best Score||A|
|JD Power Rating||3 out of 5|
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