Pros
- Nationwide network of independent insurance agents
- Online claims process
- Discount for teen drivers
Cons
- High number of customer complaints
- Must purchase policies/make changes through an independent agent
- Rideshare coverage not nationwide
Safeco Review Summary
Safeco is an above-average insurance company overall, earning a rating of 3.4/5 from WalletHub and solid scores from organizations such as J.D. Power and the Better Business Bureau (BBB). Safeco scores well when it comes to the types of insurance options it offers as well as its claims process, financial stability and transparency. But it compares poorly to the competition when it comes to discounts offered, customer service and cost.
For a bit of background, Safeco Insurance has been part of the Liberty Mutual Group since 2008, and it is best known for providing a wide variety of car insurance coverage options. Safeco also offers homeowners insurance, umbrella insurance, pet insurance and several other types of insurance policies.
Summary: Safeco Scores by Review Category
| Category | Score |
|---|---|
| Safeco Quotes / Pricing | 20/30 |
| Customer Service & Reviews | 15/30 |
| Safeco Financial Stability | 6/6 |
| Safeco Claims Process | 15/15 |
| Safeco Types of Insurance and Additional Services Offered | 5/5 |
| Safeco Discounts | 3/5 |
| Safeco Transparency | 3/5 |
| OVERALL | 67/96 |
Now that you’re familiar with Safeco’s scores in each of our review categories, let’s see how the company compares to top competitors in a handful of key areas. Hopefully, this will help you find the best insurance company for your needs.
Safeco Car Insurance Pricing
Category Rating: 60% (20 out of 30)
| Driver Profile | Average Quote |
|---|---|
| 18-Year-Old | $201 per month |
| 21-Year-Old | $125 per month |
| 45-Year-Old | $104 per month |
| 45-Year-Old with a Speeding Ticket | $115 per month |
| 45-Year-Old with DUI | $144 per month |
| 55-Year-Old | $101 per month |
| 65-Year-Old | $104 per month |
Safeco received a low score in the cost portion of this review, as its rates are somewhat pricey but not the most expensive you’ll find. Safeco ranks in the third quartile of major companies in WalletHub’s price comparison.
Safeco Customer Service & Reviews
Category Rating: 50% (15 out of 30)
- Reviews on WalletHub: 2.0/5
- J.D. Power: 4.1/5
- NAIC: 1.26
- BBB: A+
Safeco's NAIC rating is 1.26, which means Safeco has received more complaints than the average car insurance provider its size. Customers most often complain about poor customer services practices and unexpected rate hikes.
All things considered, Safeco lost quite a few points in this category because of its high number of customer complaints and lack of a 24/7 live customer service line, which could go a long way toward improving customer satisfaction if it were available.
Safeco’s Financial Stability
Category Rating: 100% (6 out of 6)
- Standard & Poor’s: A
- Moody's: A2
- AM Best: A
Safeco Insurance has earned great scores from leading credit rating agencies like AM Best, and S&P. These scores are reflections of Safeco’s financial strength and claims-paying ability.
Safeco Claims
Category Rating: 100% (15 out of 15)
With Safeco, you can file and track your claim online at any time. Safeco’s automated phone system (800-332-3226) also lets you file claims 24/7. The company’s accessibility earned it the best score possible in this category, per the WalletHub grading criteria.
Safeco’s Types of Insurance
Category Rating: 100% (5 out of 5)
- Auto Insurance
- ATV & Off-Road Vehicle
- Boat and Watercraft
- Classic Car
- Commercial Insurance
- Condo
- Golf Cart & Low-Speed Vehicle
- Home Warranty
- Homeowners
- Identity Recovery
- Landlord
- Motorcycle Insurance
- Pet Health Insurance
- Recreational Vehicle (RV)
- Renters
- Umbrella
Since Safeco offers several types of insurance options, as well as discounts for bundling policies, the company got the highest score possible in this category. With that being said, we’ll look more into how Safeco measures up as an auto insurance provider below.
Safeco offers all the major car insurance coverage options that are commonly required by states: bodily injury liability, property damage liability, medical payments, uninsured/underinsured motorist, collision, and comprehensive. Several supplemental coverage options are also available from Safeco if you need more enhanced protection while you’re behind the wheel.
Supplemental Safeco Car Insurance Coverage Options:
- Emergency Road Service: Covers the cost of towing, flat-tire repairs, fuel delivery, jump starts, and locksmith services.
- Rental Car Reimbursement: Covers the cost of a rental if your vehicle is being repaired due to an accident. This coverage also comes with the Safeco Claims Valet Service, which will have a claims valet deliver your rental to you and take your damaged vehicle to a repair shop.
- Personal Property Coverage: Covers personal items damaged because of an auto accident or stolen from your vehicle.
- Accident Forgiveness: Keeps your rate from changing after the first accident reported on your policy after a certain amount of time (several years) with no accidents or violations, depending on where you live.
- Loan and Lease Coverage: Covers the difference between the actual cash value (ACV) of your vehicle and the balance remaining on your car loan/lease if the vehicle is declared a total loss after an accident or theft.
- Electronic Key and Lock Replacement: Covers the replacement of your electronic keys, control pads and locks without a deductible.
- CD and DVD Replacement: Covers damaged or stolen audio-visual media, including records, cassettes, video tapes, CDs, or DVDs.
- Custom Equipment Coverage: Covers custom equipment that’s been permanently installed on your vehicle after its purchase. Eligible equipment includes stereos and DVD players as well as cosmetic/performance modifications like roll bars, custom wheels, lift kits, murals, and modified engines.
- New Car Replacement™: If you completely total your new vehicle (less than one year old), Safeco will pay for a replacement.
- Pet Protection: Covers veterinary expenses if your pet is injured or dies in a car accident.
With such a wide selection of coverage options, it’s important to talk with an agent about which ones make the most sense for your personal situation and your wallet. Your goal should be getting the maximum coverage for the lowest price, without paying for coverage you’ll never really use. Keep that in mind for the few specialty auto insurance policies Safeco offers, too.
Specialty Types of Safeco Car Insurance Policies:
- Classic Car Insurance for cars that are at least 10 years old, antique cars (at least 25 years old), reproductions, restored cars and more. Restrictions like driving limits, garage requirements and other rules may apply.
- Ridesharing Coverage for drivers while they’re on the road working for a ridesharing company. This coverage is an add-on to your personal auto policy and is available in only 13 states: Arizona, Colorado, Illinois, Indiana, Kansas, Minnesota, Missouri, Oklahoma, Oregon, Tennessee, Utah, Washington and Wisconsin.
- Recreational Vehicle Insurance for motorcycles, boats, trailers, ATVs, golf carts, and more.
Eligibility criteria for these types of coverage vary by state.
Safeco Discounts
Category Rating: 60% (3 out of 5)
- Accident-free discount
- Accident prevention course discount
- Low mileage discount
- Safety features discount
- Pay in full discount
- Teen safety rewards discount
- Bundling discount
- Multi-vehicle discount
- Diminishing deductible discount
- Safeco RightTrack® discount
While Safeco offers several generous discounts, its list of options is shorter than what many of its top competitors have available. Safeco didn’t get the top score in this category as a result. Also, bear in mind that discount eligibility criteria will depend on where you live.
Safeco Transparency
Category Rating: 100% (3 out of 5)
You can find key information on the Safeco website quickly and easily, so it gets good marks in the transparency department. You can also call your local independent agent to get more information, or use Safeco’s automated phone system (800-332-3226) to order ID cards, make payments, view policy documents and more.
Bottom Line
Safeco is an above-average insurance company that is backed by the Liberty Mutual Group. Safeco is known for its long list of auto and home insurance coverage options and a good claims process, but it could offer more discounts and improve its customer service practices.
It’s also important to note that while you can get a free Safeco quote online, you’ll need to finalize the purchase of a policy through an independent agent. As a result, Safeco is best for people who want to work with an agent rather than buy and manage their policy completely independently online.
Safeco Car Insurance vs. Popular Alternatives
| Insurer | Safeco | Geico | Allstate | Progressive |
|---|---|---|---|---|
| Average Annual Premium* | $1,574 per year | $1,009 per year | $1,569 per year | $1,296 per year |
| Number of Car Insurance Discounts | 10 | 17 | 12 | 13 |
| Offers Home Insurance | Yes | Yes | Yes | Yes |
| Complaints Score (lower is best) | 1.26 | 1.23 | 2.70 | 1.45 |
| Editor’s Rating | 3.4 | 4.4 | 2.9 | 3.9 |
*Complaints Score represents the company's overall NAIC rating. Car insurance-specific rating may differ.
*Average annual premiums are based on a variety of driver profiles. Individuals premiums may differ, but these rates illustrate how costs from these insurers typically compare. Learn more about how these rates were calculated in the methodology section below.
For more car insurance research, check out WalletHub’s Cheap Car Insurance Study. And if you have experience with Safeco that you think might help other consumers, you can also write a Safeco Insurance review.
Video: Safeco Insurance Review
Methodology
In order to provide fair, helpful reviews of insurance companies such as Safeco that can lead consumers to the best insurance coverage for their needs, WalletHub rates each insurance company in seven major categories: Cost, Insurance Types, Customer Service & Reviews, Discounts, Claims, Financial Stability and Transparency. Below, you can find an overview of what each section in our scoring rubric entails.
- The “Cost” section includes information about how expensive the insurance policies are, including rates and fees.
- The “Insurance Types” section examines what types of insurance policies the company offers.
- The “Customer Service & Reviews” section measures the insurance company’s reputation as well user reviews and information from watchdog organizations.
- The “Discounts” section examines how many and what types of discounts the company offers. It also takes into consideration whether or not there are discounts for bundling policies.
- The “Claims” section examines the ways in which customers can make claims with the policy. It considers whether or not customers can make claims by phone or online, as well as whether or not the company has a 24/7 support line.
- The “Financial Stability” section considers the company’s status with credit rating agencies AM Best, S&P and Moody’s.
- The “Transparency” section measures how clearly the insurer discloses key information on its website.
The final score takes these seven categories into account and reflects how close an insurance company is to WalletHub’s definition of a 5-star insurer. For more information, please read WalletHub’s full methodology.
