May 10, 2022

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards. Bottom line: Safeco is a good option if you're looking for an affordable provider for homeowners insurance , but its auto insurance policies can get costly. Safeco also ranks below (or not at all) the industry average for customer satisfaction across all products. Safeco insurance pros and cons Pros  Rental car Safeco is a subsidiary of Liberty Mutual insurance — one of the largest insurance providers in the nation. Safeco ranks #12 in J.D. Power's auto claims satisfaction survey, and scores 871 points on a 1,000-point scale, below the industry average of 880. Safeco 's discounts are quite limited. It offers savings for being claims-free for six months and will waive any premium increase on your policy for your first accident. If you're interested in learning more about saving opportunities at Safeco, contact a Safeco insurance representative. Most auto insurers offer four primary coverage types: comprehensive, collision, liability (required by most states), and full coverage. Your lender may require comprehensive collision coverage if you lease and finance your car. Related auto insurance terms Comprehensive coverage — Replaces or repairs your vehicle if stolen or damaged. It usually covers damage from theft, fire, vandalism, or falling objects. Collision coverage — Replaces your car if you're in a collision or accident. Uninsured/underinsured motorist — Protects you if someone without or without enough car insurance hits you. Liability coverage — Covers damages you cause to another vehicle and its passengers. State law usually requires drivers to have liability coverage; however, liability minimums vary by state. Full coverage — A combination of liability, collision, and comprehensive car insurance. Safeco auto insurance features and discounts New vehicle replacement — If your car is less than one year old and has fewer than 15,000 miles, Safeco will reimburse you the value of a similar car if your vehicle has been totaled or stolen. Rental car reimbursement — Safeco will pay for the cost of renting a car while your vehicle is in the shop after a covered loss. Accident forgiveness — If you've been a customer with Safeco for a period of time, Safeco will waive increases on your policy due to a first-time, at-fault accident. Claims-free cashback — Get up to 2.5% on your policy for being claim-free over a six-month period (up to 5% each year). Diminishing deductible — Your collision deductible will decrease upon renewal if there are no claims filed against your policy up to $500. RightTrack program — Get up to $513 a year for signing up and being a safe driver. Safeco auto insurance quotes Safeco 's auto insurance rates are costly, for drivers with a clean record, a DUI, an at-fault accident on record, and a speeding ticket. It is also significantly more expensive than the national average, according to data from Insurify  — an independent insurance shopping tool. However, rates will vary based on driving record, car usage, location, age, gender, the car you drive, and a host of other factors, according to the Insurance Information Institute (III). To get an accurate quote visit Safeco insurance . Auto insurance average monthly premiums Safeco    Safeco ranks #16 in J.D. Power's homeowners insurance customer satisfaction survey . It scores 810 points on a 1,000-point scale, below the segment average of 825. Safeco homeowner insurance offers discounts for bundling your insurance policies and installing home safety devices. You can also get a discount for purchasing umbrella insurance or having a newer home. Safeco also offers coverage for your repairs for your home electrical and mechanical systems at an extra charge and will connect you to their network of home service professionals. Related homeowners insurance terms Dwelling coverage — Covers the cost to repair or rebuild your home. Personal belongings coverage — Replaces lost, damaged, or stolen belongings. (Some items like jewelry, fine art, and high-end electronics require add-on coverage). Personal liability coverage — Protects you when someone is injured on your property and sues you for damages. Safeco homeowners insurance discounts and features Valuable articles coverage — Additional coverage for high-value items like jewelry. Equipment breakdown — Coverage for mechanical and electrical breakdowns at $2 a month. Guaranteed repair network — Connects you with home service professionals to perform repairs. Safeco package — Receive a discount for bundling your homeowners and auto insurance policy. Protective devices — Get a discount for installing a burglar alarm or a sprinkler system. New home discount — Qualify for a discount if you have a newly constructed home. Advanced quote discount — Get a discount for getting a quote before your policy begins. Umbrella insurance package – Get additional savings if you sign up for umbrella insurance. Safeco homeowners insurance quotes Based on 1,198 quotes generated by Insurify, the average cost for a Safeco homeowners insurance policy is $836 a year. The average annual premium in the United States in 2019 was $1,272, according to the most recent data from the Insurance Information Institute . Safeco's home insurance is generally cheaper than the national average and its competitors. However, your homeowners insurance premium will be based on a variety of factors including your home's value. Be sure to speak to a Safeco agent to obtain an accurate quote. Safeco  Safeco offers discounts for bundling insurance products and paying your policy in full. Safeco also has a personal property floater which gives you extra coverage for high-valued items like a expensive jewelry. Like homeowners insurance, Safeco renters insurance offers coverage for your repairs for your home electrical and mechanical systems at an extra charge, and will connect you to their network of home service professionals. To obtain a quote from Safeco, speak to an independent agent. Renters insurance  will cover your personal property in the event of damage and theft. Your landlord is responsible for insuring the building and structure. A renters insurance policy has three main parts: personal property coverage, personal liability coverage, and "loss of use" coverage. Related renters insurance terms Loss of use — Covers temporary housing if your rental becomes inhabitable. Special personal property floater — Extra coverage for high-value items like jewelry, art, collectibles, and some electronics if they are damaged or stolen. Safeco renters insurance features and discounts Valuable articles coverage — Additional coverage for high-value items like jewelry. Personal property replacement cost coverage  — Safeco will cover equipment breakdowns at an extra $2 a month. Multi-policy discount — Get a discount for combining your renters and auto policy. Pay in full — Receive a discount for paying your premium in full, up-front. Higher deductible — Lower your premiums by choosing a higher deductible. Safeco pet insurance offers accident, accident and illness, and preventative care coverage More Information Accident-only, accident and illness, and wellness coverage While many insurance companies offer pet insurance through providers that specialize in pet insurance like Embrace or Trupanion, Safeco has its own pet insurance policy. Safeco offers accident and illness, and preventative coverage at an additional cost. Here are some of the options you can customize your policy with: Annual coverage limit options: $2,500, $5,000, $10,000, or $15,000 Annual deductible options: $100, $250, or $500 Reimbursement options: 70%, 80%, or 90% of eligible charges Speak to an insurance agent to obtain a quote and to inquire about discounts that you may qualify for. Most pet owners qualify for savings if they insure multiple pets. Pet insurance  usually offers two types of coverage: accident-only and accident and illness coverage. Wellness plans are usually available for additional purchase. Accident-only coverage only reimburses the cost of injuries your pet suffers as a result of an accident. Accident and illness policies cover both accidents and sickness or diseases your pet develops after your policy begins. No pet insurance carrier covers pre-existing conditions. Coverage A+ (Superior) Safeco and Amica both offer auto, homeowners, and renters insurance. Safeco does not offer life insurance. Amica ranks higher than Safeco in both auto and homeowners insurance customer satisfaction and also ranks higher in terms of financial strength. Amica is also the cheaper option for auto insurance. Is Safeco trustworthy? Among all policy types, the NAIC Complaint Index shows that Safeco has significantly more complaints compared to other top insurance companies. The National Association of Insurance Commissioners (NAIC) is an insurance regulatory organization that protects consumer interests. The complaint index compares a company's performance to other performance of other providers in the industry. Safeco's financial stability is good, with an AM's Best rating of A (Excellent). AM's Best is a credit rating agency that assesses an insurance company's ability to pay claims to its policyholders. A company that receives an A++ to B+ is stable in financial strength, while anything lower than a B means that a company is unstable or unable to meet its financial obligations. While Safeco is a legitimate insurance provider, it's important to do your own research to ensure that Safeco is the right insurance company for you. Frequently Asked Questions — Safeco  What states does Safeco cover? Safeco offers insurance services in 32 states: Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Tennessee, Utah, Virginia, West Virginia, Wisconsin, and Wyoming. How do I obtain a Safeco insurance quote? To obtain a quote for Safeco insurance, you must get in touch with a Safeco insurance representative. You can use Safeco's independent agent locator to find an agent near you. What features are available on my Safeco online account? On your Safeco account, you can: Pay your bill