Safeco Insurance Review 2017: Complaints, Ratings and Coverage

Auto Insurance, Insurance

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Safeco Insurance reviews and ratings

  • Safeco’s customer satisfaction ratings are mixed
  • Has close to the median number of customer complaints compared with other companies of similar size
  • Ranks 11th out of 21 insurers in NerdWallet’s best car insurance companies

Safeco Insurance sells personal auto, homeowners and specialty insurance products. Safeco’s parent company, Liberty Mutual Group, is an insurance giant — the seventh-largest auto insurance seller, according to A.M. Best. Safeco policies are sold online and by more than 10,000 independent insurance agents across the country.

auto insurance RATING

Safeco ranked 11th out of 21 insurers in NerdWallet’s ranking of the best car insurance companies, earning 4 stars out of 5. NerdWallet’s rating is a score based on:

  • J.D. Power ratings for claims satisfaction and customer service
  • Consumer complaints against the insurer, based on data from the National Association of Insurance Commissioners

Complaints

Safeco had close to the median number of complaints to state regulators in 2016 for a company of its size, according to the National Association of Insurance Commissioners.

Auto insurance complaints
Home insurance complaints

3 stars

3 stars

Customer satisfaction

  • Safeco ranked “about average” for overall purchase experience for auto insurance in J.D. Power’s 2016 U.S. Auto Insurance Shopping Study
  • It ranked “about average” for overall satisfaction in J.D. Power’s 2016 Auto Claims Satisfaction Study
  • Safeco ranked “better than most” for overall satisfaction in J.D. Power’s 2016 Property Claims Satisfaction Study
  • It ranked “about average” for overall satisfaction in J.D. Power’s 2016 Home Insurance Study

Financial strength: A (excellent)

Safeco’s financial strength is “excellent,” according to ratings agency A.M. Best. Financial strength is important because it indicates how well an insurer can pay claims.

Safeco auto insurance

Safeco policies include these unusual features that set it apart from most insurers:

  • Accident forgiveness: After a certain number of years with no accidents or violations, Safeco won’t raise your rates after your first accident
  • Diminishing deductible: If you don’t make a car insurance claim, Safeco will reduce your collision deductible each year by $100, up to $500

In addition, you can choose from several coverage options if they’re available in your state, including:

  • Personal property coverage: Safeco will reimburse you if your belongings are damaged in an accident or stolen from your car
  • Emergency assistance package includes roadside assistance and personal property protection, plus up to $100 for expenses and up to $500 for meals, lodging and transportation if you’re in an accident more than 25 miles from home
  • Gap coverage: If your car is totaled or stolen, Safeco pays the difference between how much is left on your loan or lease and the value of your car
  • Electronic key and lock replacement pays to replace lost or stolen electronic keys, remote control pads and locks, with no deductible
  • Custom equipment coverage will protect equipment that was not installed at the factory or dealership, including permanently installed audiovisual equipment, a modified or custom engine, roll bars, custom wheels, murals and decals
  • Pet coverage for veterinary expenses or death benefit if your cat or dog is injured or dies in a collision

Safeco home insurance

Safeco offers standard homeowners insurance coverage, and customers can choose to buy additional options such as:

  • Identity recovery: If you’re the victim of identity theft, this will reimburse you for expenses related to restoring your identity, such as lost wages for time spent handling the problem, up to $25,000
  • Valuable articles protection: Covers jewelry, fine art, antiques, collectibles and valuable items that you specify, up to an agreed dollar amount. There’s no deductible.
  • Equipment breakdown coverage: Replaces an appliance with an Energy Star-rated appliance of “like kind and quality” if it suffers an unexpected mechanical or electrical breakdown that’s not caused by normal use
  • Personal property replacement cost: Helps to pay for new items to replace your belongings that were damaged, lost or stolen, regardless of their age or condition
  • Single loss deductible: When you insure your home and car with Safeco, you can pay only one deductible if both are damaged in the same event, such as a tree falling on your garage

More about Safeco

Website: Safeco’s site is easy to navigate and lets you log in and track a claim, get a quote, pay your bill, view or download your policy documents and more. If you prefer the personal touch of an agent, Safeco has a network of thousands of insurance agents who can help. You can find one via the Safeco website.

Mobile apps: Safeco offers a free Home Inventory App that helps you create an inventory of your belongings and their value. It also has a standard insurance app that lets you log in and manage your policy, pay bills, initiate a claim, and more.

Other insurance from Safeco:

  • Motorcycle insurance
  • Renters insurance
  • Boat insurance
  • RV insurance
  • Umbrella insurance
  • Classic car insurance
  • Landlord protection insurance

Updated April 13, 2017.


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NerdWallet’s auto insurance star ratings and rankings are based on the following three factors, each weighted equally:

  • 2015 consumer complaints data from the National Association of Insurance Commissioners. The median complaint ratio for the industry is 1. Lower ratios are better. Insurers whose median complaint ratios were more than 1 received fewer points; those lower than 1 received more points.
  • 2015 regional customer service satisfaction data from J.D. Power. The higher the average J.D. Power rating across regions, the more points the insurer scored in our calculation.
  • 2015 auto claims satisfaction data from J.D. Power. The higher the J.D. Power rating, the more points the insurer scored in our calculation.

Only larger insurers with data available in all three of these categories were included. In case of ties, NAIC consumer complaints data were used to break the tie. Smaller insurers not listed here may also be good choices and are worth consideration.