Safeco Insurance Review for 2020
A subsidiary of Liberty Mutual based in Seattle, Washington, Safeco Insurance was founded in 1923. The company quickly expanded over the decades and now offers multiple lines of insurance with a focus on competitive pricing. Our overview of Safeco's coverage options, discounts, and claims satisfaction can help you decide if the company is a suitable home for your next insurance policy.
Safeco car insurance coverage options
Apart from the standard suite of collision, comprehensive, personal injury protection (PIP), liability, and uninsured and underinsured motorist coverage, Safeco offers an array of policy features and coverage options that can be added to your auto policy.
You can qualify for accident forgiveness after a set number of years of being insured with no accidents or violations.
Also known as a vanishing deductible, Safeco's diminishing deductible program can result in a $100 cut to your deductible each time you renew your policy annually. Note: you must remain free of claims during your policy period to qualify for this perk.
Loan/lease gap coverage
If your car is deemed a total loss while you're still making payments to your lender, Safeco will cover the gap between the actual cash value — which deducts for depreciation — and the remaining unpaid balance on your loan or lease. This is also known as gap insurance.
First aid reimbursement
Up to $10,000 in coverage for first aid reimbursement after an auto accident is included in all policies.
Safeco will cover the expenses of towing if your car breaks down in addition to emergency roadside services like flat tires, lockouts, and jumpstarts.
If you need a more robust roadside assistance package, this option includes emergency roadside assistance and also boosts your coverage if you get in an accident more than 25 miles from your home. This includes coverage for damaged personal belongings, expenses (up to $100), meals, lodging, and transportation (up to $500).
Rental car reimbursement
A common addition to many car insurance policies, Safeco will cover the expenses of a rental car if your own is out-of-commission while it's being repaired following an accident. Safeco also automatically includes a rental car valet service for cases where the damaged vehicle is still driveable — a claims valet driver will deliver a rental car to your home or office, and bring your damaged car to a repair shop on your behalf.
New car replacement
Safeco will pay out the value of a comparable car if your car is less than a year old and becomes totaled or stolen. Learn more here about this coverage.
If your pet is injured or killed in an accident, Safeco will help cover the veterinary expenses.
Personal property auto insurance coverage
You'll be reimbursed if your personal belongings are stolen from your car or damaged in a collision.
Electronic key and lock replacement
Safeco will waive the deductible and replace your lost or stolen electronic keys.
AV and custom equipment coverage
This covers losses to your audio, visual, and custom equipment like stereos and performance-enhancing or modified parts that were not originally installed by the car's manufacturer.
Safeco insurance discounts and reward programs
Premiums can get expensive but don't have to be — no matter what your rates are like, you should always look for discounts and cost-cutting programs each insurance company has to offer. Safeco has a decent selection of potential discounts that you can look into qualifying for.
Insurance discounts based on your policy
- Multi-policy: Bundle your homeowners and car insurance policies to receive up to a 15% discount.
- Pay in full: See some savings by paying your premium in full when you start or renew your policy.
Discounts based on your driving profile or vehicle
- Multi-car: Insure more than one car on the same policy to save some money on your car insurance premiums.
- Homeowners: You may be eligible for savings if you're a homeowner.
- Accident prevention course: If you're over the age of 55 and complete an approved accident prevention course, a discount may apply to your insurance for three years.
- Low-mileage: You can get up to a 20% discount if you're seldom behind the wheel.
- Anti-theft device: If your car is equipped with an alarm or disabling device that can deter theft, you may qualify for some insurance savings.
- Anti-lock brakes: Get a discount if your car has a factory-installed four-wheel anti-lock braking system (ABS).
Discounts for young drivers with Safeco
- Good student: Maintain good grades in school to receive a student discount.
- Driver training: Complete an approved driver education course to save some money on your teen's policy.
- Distant student: If your teen resides more than 100 miles from home and has limited access to the insured vehicle, you may be eligible for a discount.
- Newly independent: If your teen switches to their own Safeco insurance policy after being covered by an existing Safeco policy (usually their parents'), they may qualify for a discount on their new policy.
- New teen: If you add your teen to your policy after a year of being a Safeco customer, get up to a 27% discount.
- Tenure: Available in states that don't offer the New Teen discount, you may qualify for this discount if you add your teen to your policy after more than two years of being a Safeco customer.
Additional Safeco discounts:
- Safeco RightTrack®: Safeco's telematics program offers a plug-in device or a mobile app that tracks and monitors your driving for 90 days. Your final discount is determined by how safely you drive.
Additional lines of insurance through Safeco
Safeco offers multiple lines of insurance apart from car insurance. Below is a comprehensive list of Safeco's other insurance products.
- Homeowners insurance
- Condo insurance
- Renters insurance
- Off-road vehicle
Is Safeco car insurance right for you?
With a wide selection of coverage options and discounts, Safeco is just as competitive as other large insurance companies. Its less-than-favorable record in terms of customer service is juxtaposed against excellent financial strength that points to a capability to fulfill claims. Whether you're looking to purchase a policy to meet state-required minimums or buy a more robust plan to cover all your bases (and then some), Safeco has comprehensive coverage options. For instance, if you frequently drive long distances, it could be sensible to opt for the company's emergency assistance package. If you often have your dog ride along with you, pet coverage could bring you more peace of mind.
But are Safeco's car insurance rates affordable? Premiums vary depending on a myriad of factors, like your age, location, driving record, and credit score, so you should always compare quotes when shopping for new car insurance. Enter your ZIP code below to review and compare quotes from more than a hundred insurance companies, including Safeco, and find the best rate for your next policy.