No, Safeco and Liberty Mutual are not the same company, though Safeco was purchased by Liberty Mutual in 2008. While the two companies are related and not completely independent of one another, Safeco still sells its own insurance policies.
Having Liberty Mutual as its parent company means that Safeco has strong financial backing and can focus exclusively on selling personal insurance policies. To learn more about these insurers, check out WalletHub’s reviews for Safeco and Liberty Mutual.
Safeco is top-rated within the insurance industry, and is one of the largest insurance suppliers in the country. According to the company’s website: Safeco is a Liberty Mutual Insurance company. Liberty Mutual Insurance ranks on the Fortune 100 list of the largest U.S. corporations. The company has financial strength ratings of A (Excellent) from the A.M. Best Company, A2 (Good) from Moody’s Investors Service, and A- (Strong) from Standard & Poor’s.… read full answer
Yes, Safeco insures high-risk drivers. A high-risk driver is anyone who is more likely to file a car insurance claim than the average policyholder, including teenagers, drivers with a gap in their insurance history, and drivers with a poor record. Because high-risk drivers are more of a financial liability than the average policyholder, Safeco charges them a higher rate.… read full answer
For example, drivers who have recently been convicted of DUI pay 39% more on average for their Safeco policy than drivers with a clean record. And if you have an at-fault accident on your record, Safeco will charge you an average of 41% more for coverage.
Safeco Insures High-Risk Drivers Who:
Have a poor driving record
Have a gap in their insurance history
Are required by their state to file an SR-22 or FR-44
Have filed multiple claims in the past few years
Are teenagers or seniors (65+)
Have poor credit
Drive a high-risk vehicle, like a sports car
You can get a free Safeco insurance quote online or by calling 1 (800) 332-3226.
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