Safeco Homeowners & Auto Insurance Review
Are you considering purchasing homeowners or auto insurance through Safeco? Below, we take a closer look at Safeco to answer common questions that potential customers have about this carrier. We also give our honest and unbiased review so that you can decide which carrier and policy is right for you.
About Safeco
Safeco was founded in Seattle, Washington in 1923 by Hawthorne K. Dent. At the time, the company was known as the General Insurance Company of America, and commonly referred to as “The General.”
In 1953, the company created a subsidiary called Selective Auto and Fire Insurance Company of America (SAFECO). By the 1960s, SAFECO became so popular that The General actually took the step to rename itself Safeco Corporation. Today, Safeco is a subsidiary of the life insurance company Liberty Mutual, which purchased the company in 2008.
Safeco is headquartered in Seattle, Washington, but has offices and independent agents around the country. The company currently offers homeowners and auto insurance policies in all 50 states plus Washington, DC.
What people say about Safeco
Overall Satisfaction
Higher than average rating compared to 40+ insurance carriers
Customer Service Satisfaction
Coverage Options Satisfaction
Claims Satisfaction
Online Tools Satisfaction
What we like about Safeco
- Safeco has nearly 100 years of history as an insurance company. They have survived two world wars, major economic recessions, and have never failed to pay out when it mattered most for their customers.
- Safeco is owned and backed by the well known and trusted life insurance company Liberty Mutual.
- Safeco maintains an A (Excellent) rating with AM Best.
- Safeco offers both homeowners and auto insurance, as well as other insurance products such as motorcycle and boat insurance.
- Customers can bundle together multiple Safeco policies (such as home and auto) to qualify for a discount.
- Safeco offers a number of other discounts that customers can use to lower their monthly payments.
Safeco rating
Safeco maintains an A (Excellent) rating — one of the highest ratings available — with AM Best, one of the largest credit rating agencies in the insurance industry.
Why do ratings matter? Companies with higher ratings are seen as safer. When you hold an insurance policy with an A-rated company, you can feel confident that the carrier will be able to meet its obligations to you if you need to file a claim. Safeco’s high rating demonstrates that it is a financially fit and stable company.
Learn more about the importance of choosing an A-rated insurance carrier »
Products offered by Safeco
Safeco offers homeowners and auto insurance, as well as motorcycle and boat and watercraft insurance for individuals.
Safeco homeowners insurance options
- Dwelling coverage
- Other structures coverage
- Personal property coverage
- Personal liability coverage
- Additional living expenses coverage
- Medical payments to others
For more information about homeowners insurance and coverage definitions, read our Homeowners Insurance 101 guide.
Safeco auto insurance options
Safeco’s standard auto insurance policy includes the following types of coverage automatically:
- Liability coverage
- Uninsured/underinsured motorist coverage
- Personal injury protection (PIP Insurance)
- Medical payments coverage
- Property damage coverage
For more information about auto insurance and coverage definitions, read out Auto Insurance 101 guide.
Other insurance products offered by Safeco
- Motorcycle insurance
- Recreational vehicle (RV) insurance
- Golf cart & low-speed vehicle insurance
- Condo insurance
- Umbrella insurance
- Boat & watercraft insurance
- ATV & off-road vehicle insurance
- Renters insurance
- Landlord insurance
- Pet health insurance
- Classic car insurance
Safeco insurance coverage options
In addition to the standard home and auto insurance policies, Safeco offers a number of other types of coverage that policyholders can add to their policies as desired.
Safeco homeowners insurance coverage options
- Valuable articles coverage: Provides additional coverage for items that are high value, such as jewelry, collectibles, art, or expensive electronics.
- Equipment breakdown coverage: Provides coverage for critical household equipment usually not covered by standard homeowners insurance.
- Guaranteed repair network: A program designed to connect policyowners with prequalified repairment for home repairs.
- Extended dwelling coverage: Provides additional coverage for your dwelling.
- Identity recovery coverage: Provides coverage to help you recover if your identity is ever stolen.
- Earthquake coverage: Offers coverage in the event your home experiences damage caused by an earthquake.
- Service line coverage: Coverage to help pay for replacement or repair of damaged wires or pipes.
Safeco auto insurance coverage options
- Comprehensive coverage: Provides coverage for your vehicle if it is stolen or damaged or destroyed in an event other than a collision.
- Collision coverage: Provides coverage for your vehicle if you are involved in a collision.
- New vehicle replacement: Provides coverage for vehicles that are less than 1 year old and which have fewer than 15,000 miles. If the car is totaled or stolen, you’ll receive the value of a comparable new car to help pay for replacement.
- Rental car reimbursement: Helps you pay for a rental car if you need one while your car is being repaired after an accident.
- 24-hour roadside assistance: Covers the cost of towing your vehicle to the nearest repair shop if you break down on the side of the road. Can also be used to cover the cost of a flat tire, delivering gasoline, a locksmith if you are locked out of your car, and more.
- Loan/lease gap coverage: If you are still making payments on a loan or lease for your vehicle and it is deemed a total loss, this coverage will help cover the gap between the actual cash value of the vehicle and whatever amount remains unpaid on your balance.
- Personal property auto insurance coverage: Provides coverage for personal belongings that are stolen from your vehicle or damaged during a collision.
- Rideshare coverage: If you use your car for a rideshare service, this endorsement provides coverage. It is not available in all states, but is currently available in Arizona, Colorado, Illinois, Indiana, Kansas, Massachusetts, Minnesota, Missouri, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah, Washington, and Wisconsin.
Safeco discounts
Safeco homeowners insurance discounts
Safeco offers a variety of homeowners insurance discounts that you can take advantage of to lower the cost of your premiums, including:
- Advance quote discount: Save on your homeowners insurance by requesting a quote before it is needed to go into effect.
- Multiple policy discount: Homeowners can save by bundling their homeowners insurance with auto, boat, RV, or umbrella coverage.
- Newer home discount: If your home is less than 10 years old, you may qualify for a discount.
- Pay in full discount: If you pay your premiums upfront each year, it will qualify you for a discount.
- Protective devices discount: You may qualify for a discount if you install home protection devices such as central fire alarms, sprinkler systems, burglar alarms, security systems, etc.
Safeco auto insurance discounts
Safeco offers the following discounts for auto insurance as applicable:
- Claims free cash back: Drivers who are claims free during a six-month period will receive a check for 2.5% of their policy premium, automatically. This can equal a savings of up to 5% annually.
- Diminishing deductible: Drivers who maintain a clean driving record will have their deductible reduced by $50 every six months of their auto policy at renewal. This benefit stacks for a total of $500 reduced deductible.
- RightTrack: This program monitors your driving behavior and can potentially lower your premiums. Specifically, RightTrack monitors your braking, acceleration, nighttime driving, and mileage. SafeCo states that the program can save you up to $513 per year.
- Multi-policy discount: Drivers can save by bundling their auto insurance with homeowners, umbrella, or dwelling fire coverage.
- Multi-car discount: Drivers can earn a discount by insuring two or more vehicles on the same policy.
- Pay in full discount: If you pay your premiums upfront each year, it will qualify you for a discount.
- Accident prevention course discount: Drivers who are at least 55 years old and who have completed an accident prevention course may qualify for a discount.
- Driver training discount: Drivers can earn a discount by completing a driving education course.
- Good student discount: Drivers who are full-time students can earn a discount if they maintain good grades.
- Distant student discounts: If a teenage driver on your policy resides at least 100 miles from home and does not have access to the vehicle (for example, if they are attending a college at least 100 miles away) you may qualify for a discount.
- Anti-theft device discount: You may earn a discount by installing an anti-theft device, such as an alarm, in your vehicle.
- Low mileage discount: Drivers who drive less than 8,000 miles per year may qualify for a discount of up to 20%.
How to cancel your Safeco policy
If you’d like to cancel your Safeco insurance policy, all you need to do is contact your agent and request a cancellation. If you live near a local Safeco office or branch, you may also be able to schedule an in-person appointment to request a cancellation in person.
You might be required to pay an early-cancellation fee, depending on your contract. In the event that you have paid any portion of your premiums ahead of time, you may also be entitled to a reimbursement.
Before canceling your homeowners or auto insurance, you’ll want to have coverage lined up with another insurance carrier. This will ensure that you do not have any gaps in your insurance that would otherwise put you and your family at risk.
Matic matches you with the best policy for the best price from our network of 40+ A-rated carriers, including Safeco.
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