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Safeco Insurance Review 2020

Jan. 2, 2020
Auto Insurance, Insurance
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  • Safeco’s customer satisfaction ratings are average for auto and home insurance claims.
  • Fewer than the expected number of customer complaints, relative to its size, for auto insurance.
  • Offers ridesharing insurance in multiple states.

Safeco Insurance sells personal auto, homeowners and specialty insurance products. Safeco’s parent company, Liberty Mutual Group, is an insurance giant — the sixth-largest auto insurance seller.

Safeco auto insurance

4.0 NerdWallet rating

Safeco auto insurance earned 4 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing and discounts, ease of filing a claim, website transparency, financial strength, complaint data from the National Association of Insurance Commissioners and more.

Basted on these star ratings, Safeco is among NerdWallet’s Best Car Insurance Companies for 2020.

» MORE: Car Insurance Quotes: What You Need to Know

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

  • First aid reimbursement up to $10,000 for first aid administered after an accident.
  • 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 or five years.

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

  • Rideshare coverage: If you drive for a company like Uber or Lyft, your personal policy is suspended while you use the app. Meanwhile, the ridesharing company’s insurance is limited between rides, or while you’re on the way to pick up customers. Safeco can cover the gap for less than $10 per month for most drivers in states where this coverage is available.
  • New car replacement: If your car is totaled or stolen and is less than one year old, Safeco will pay to replace it with a comparable new car.
  • Personal property coverage pays out if your belongings are damaged in an accident or stolen from your car. Typically, this is covered by renters or homeowners 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, 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.
  • CD and DVD replacement pays out when your audio-visual media such as DVDs, CDs and videotapes are damaged or stolen.
  • 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.

» MORE: Compare car insurance rates

Safeco’s auto insurance discounts:

  • Multi-policy (bundling) discount.
  • Safe driver discount.
  • Accident prevention course discount.
  • Discount for using Teen Safety Awards, a collection of tools benefits and discounts created to help your teen become a safer driver.
  • Multi-car discount.
  • Low-mileage discount.
  • Discount for adding an anti-theft device to your vehicle.
  • Anti-lock brakes discount.
  • Discount for owning your own home, townhouse, condo, or mobile home.

» MORE: Where to get ridesharing insurance, what it covers

Safeco homeowners insurance

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

  • Identity recovery: For $1 a month, 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: For $2 a month, this 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.

Safeco’s home insurance discounts:

  • Multi-policy (bundling) discount if you combine your home and auto policies, motorcycle, boat or RV policies.
  • Discount if your house is less than 10 years old.

Safeco complaints and consumer safety

Safeco had fewer than the expected number of complaints to state regulators for auto and home insurance relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners.

2019 J.D. Power StudySafeco ranks...
Auto Insurance ShoppingBetter than most
Auto Insurance Claims SatisfactionAbout average
Home InsuranceAmong the rest
Property Insurance ClaimsAbout average

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, you can find one via the Safeco website.

Mobile app: Safeco’s app lets you log in and manage your policy, pay bills, check the status of a claim and more.

Alexa: Use Alexa’s “insurance advisor” skill from Safeco to test your risk knowledge, find an insurance agent, and learn more about insurance coverages.

Other insurance products available from Safeco
Motorcycle insuranceUmbrella insurance
Renters insuranceLandlord protection insurance
Condo insuranceRV insurance
Boat insuranceClassic car insurance
ATV insuranceSnowmobile insurance

Recap: Safeco pros and cons

Fewer than the expected number of customer complaints for auto and home insuranceSafeco’s customer satisfaction ratings are average for auto and home insurance claims or worse
Offers accident forgiveness and generous first aid reimbursementLow customer satisfaction ratings for home insurance
Many options to customize auto policies’ coverage

Auto insurance ratings methodology

NerdWallet’s auto insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, website transparency and affordability. Using our editorial discretion, we also consider customer satisfaction surveys. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Methodology: Insurer complaints

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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