Safeco insurance review 2024
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At a glance
Score breakdown
Auto
4.3
Cost & ratings
4.0
Coverage
5.0
Support
4.2
Home
3.3
Cost & ratings
2.2
Coverage
5.0
Support
3.8
About Bankrate Score
Bankrate's take
Safeco, a Liberty Mutual company, may be a good fit for customers seeking customized coverage, but customer service may be a pain point for some.
- Robust home and auto add-ons
- Claims-free cash back program for auto
- Generous bundling discount
- Low customer satisfaction ratings for auto and home
- No online home insurance quotes
New
In May 2024, Safeco announced upcoming rate hikes of 10.5 percent for home insurance customers in California. The company also reported plans to nonrenew certain California customers whose homes were built before 1976.
We want to know what you think about Safeco
Do you have experience with Safeco? Let us know your thoughts.
Safeco car insurance review
Safeco’s auto insurance product earned a 4.3 Bankrate Score out of a possible 5.0, making it one of the best car insurance companies in Bankrate’s analysis. Safeco’s high score comes down to a few key strengths: it’s available in most states, offers a wide range of coverage add-ons and discounts and receives generally strong third-party ratings for financial strength and claims satisfaction. However, some customers report difficulty with customer service, and the carrier scored below average for customer satisfaction in all regions in J.D. Power’s 2023 U.S. Auto Insurance Study.
Safeco has an A (Excellent) financial strength rating from AM Best. In addition to standard coverage options like liability, collision and uninsured motorist coverage, Safeco offers customers a variety of add-ons, like rental car reimbursement and new vehicle replacement, for full coverage policies. And for safe drivers, Safeco offers a unique perk: the company’s Claims Free Cash Back program promises the automatic return of up to 5 percent of your premium each year if you avoid filing claims.
Pros and cons of Safeco car insurance
Part of car insurance shopping is reviewing carriers to ensure they offer what you need. Here are some pros and cons when it comes to Safeco car insurance:
Pros
- Variety of add-on coverage options
- Claims-free cash back program rewards safe drivers
- RightTrack telematics program available
Cons
- Above-average NAIC complaint index scores
- Rated below average by J.D. Power for customer satisfaction
- Discounts not clearly advertised
Safeco car insurance cost
Safeco doesn’t make its average premiums available, so the best way to estimate the cost of an auto policy from Safeco is to request a personalized quote. When comparing quotes, keep in mind that the national average cost of auto insurance for adult drivers with clean records is $2,278 per year for full coverage and $621 per year for minimum coverage.
It’s also a good idea to compare Safeco’s quote with quotes for the same coverage from other insurance providers. Your profile might not match the base profile for our average premium data, and every carrier will weight the rating factors in your profile differently. Safeco may be the cheapest car insurance company for some drivers, but many others find more affordable rates with a different provider.
Safeco customer satisfaction
Third-party ratings from J.D. Power and the National Association of Insurance Commissioners (NAIC) provide a general picture of how well Safeco meets its customers’ needs. In looking at these scores, Bankrate’s insurance editorial team found somewhat mixed results: while Safeco may be better at paying claims than some competitors, customer service appears to be a pain point for many policyholders.
Safeco auto claims satisfaction
In J.D. Power’s 2023 U.S. Auto Claims Satisfaction Study, Safeco came out with a score of 880 out of 1,000, putting it slightly above the industry average of 878. Based on this score, we estimate that Safeco may be slightly better at handling claims than many competitors — but J.D. Power’s customer satisfaction study indicates that customers may still have complaints. In that survey, customers in the seven geographic regions where Safeco was rated placed it well below the industry average for satisfaction.
Safeco auto insurance customer complaints
The NAIC collects customer complaints for U.S. auto insurance companies and analyzes each carrier’s rate of complaints relative to its market share. The resulting number, known as a complaint index score, indicates whether the company receives more or fewer complaints than the industry baseline of 1.00. Safeco’s 2023 complaint index score of 1.13 for private passenger auto insurance suggests that it receives more customer complaints than companies of a similar size.
Safeco car insurance discounts
Safeco doesn’t list much information about its car insurance discounts online. However, the carrier does note a few fairly standard ways to save on your auto insurance premium, such as safe driver and safety features discounts.
- Safe driver discounts: Enroll in RightTrack telematics, remain accident-free or complete an accident prevention course, and you might be eligible for a Safeco discount.
- Safe vehicle discounts: Vehicles with certain types of safety equipment may be eligible for lower rates.
- Bundling discounts: Customers who purchase home and auto or other policies from Safeco could save money by bundling their coverage.
- Claims-free cash back: Drivers who stay claims-free over a six-month review period automatically receive 2.5 percent of their premium back, for a maximum total of 5 percent each year.
Safeco may offer additional discounts besides the ones listed above, but you’ll need to get in touch with a local agent to determine which discounts you might be eligible for.
Safeco home insurance review
Safeco’s home insurance offerings are robust, especially for customers seeking a home insurance company with multiple endorsements. In addition to standard dwelling and liability coverages, Safeco offers seven optional add-ons, from riders for valuable coverage like jewelry and art to identity theft coverage starting at $1 a month. The opt-in Guaranteed Repair Network feature even offers a guaranteed labor and material warranty.
Despite these strong coverage options, Safeco’s home insurance product only earned a 3.3 Bankrate Score, primarily due to the company’s below-average scores for both customer satisfaction and claims handling in the latest J.D. Power studies. It’s still worth considering home insurance quotes from Safeco in your search, but keep the potential tradeoff between cost and service in mind.
Pros and cons of Safeco homeowners insurance
Pros
- Seven home insurance endorsements
- Guaranteed Repair Network labor and material warranty available
- Generous bundling discount available
Cons
- Low J.D. Power scores for customer satisfaction and claims
- Online quotes are unavailable
- Customer service hours may be limited to business hours
Safeco home insurance cost
As with auto insurance, Safeco doesn’t make its home insurance rates available for analysis, so the best way to estimate your costs is to request a quote. Keep in mind that the national average cost of homeowners insurance is $2,230 per year for $300,000 in dwelling coverage. However, your chosen coverage amounts, location, claims history and other factors can all affect your final premium. If finding cheap home insurance is your priority, compare quotes from several different providers along with Safeco to find the best deal.
Safeco customer satisfaction
Cost is only one factor worth considering when selecting a home insurance company. Bankrate’s insurance editorial team also looked at third-party ratings from industry leaders like J.D. Power and the National Association of Insurance Commissioners to determine whether Safeco backs up their home coverage with reliable customer service. Overall, we found mixed responses indicating a generally poor customer service experience for many Safeco policyholders.
Safeco homeowners claims satisfaction
Safeco scored below average for claims satisfaction in the 2024 J.D. Power U.S. Property Claims Satisfaction Study, with a total score of 851 out of 1,000 — well below the study average of 869. Only two home insurers — Travelers and Homesite — received lower claims satisfaction scores than Safeco.
Safeco home insurance customer complaints
We compared Safeco’s home insurance complaint index score for 2023 to the industry baseline of 1.00. The carrier received a score of 1.64 — a significant jump from the previous year’s low of 0.75. Based on this data, it seems that Safeco receives more customer complaints than expected for a carrier of its size.
Safeco home insurance discounts
During your Safeco home insurance review, it can be beneficial to explore the range of discounts the company typically offers. Safeco offers its policyholders a few ways to save on home insurance. Included in Safeco’s home discounts are savings for bundling your auto and home insurance, installing protective devices like a security system, owning a newer home or getting a quote prior to your desired coverage date.
- Safeco Package: If you bundle your auto policy with a Safeco home policy, you may save up to $810.
- Protective devices: If your home is equipped with a burglar alarm or sprinkler system, you may earn a discount.
- New home discount: If your home is brand new or less than 10 years old, you could qualify for this discount.
- Multiple policy discount: Bundling an umbrella policy with your home insurance may open another opportunity for discounts.
Compare Safeco with other insurers
Safeco’s auto and home insurance products offer competitive coverage with plenty of potential for customization, but it falls behind the competition when it comes to customer satisfaction. However, because Safeco doesn’t make its rates available for analysis, the best way to compare Safeco with other carriers is to request multiple quotes for comparison. Comparing rates along with third-party ratings and customer reviews may help you determine whether Safeco is the right fit for your insurance needs.
Why you can trust Bankrate
Read our full methodologyOur insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Safeco insurance review.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Is Safeco a good insurance company?
As a Liberty Mutual company, Safeco has solid financial strength ratings, a solid lineup of coverage options for both auto and home insurance and unique perks like the Guaranteed Repair Network for auto and home. However, customer service appears to be Safeco’s Achilles heel: in both expert third-party ratings and individual customer responses, a lack of reliable customer service is a consistent theme.
What are real-life customers saying about Safeco?
To get a better handle on why Safeco performs so poorly in customer satisfaction surveys, Bankrate’s insurance editorial team scoured online forums and social media to hear from actual customers. We looked closely at discussions on Reddit and YouTube for customer voices, and found that while some customers received affordable rates and decent service from Safeco, poor claims handling created a negative experience for others.
The most positive feedback for Safeco came from Reddit, where some users expressed frustration with their Safeco claims experience but others reported positive interactions with customer service.
YouTube
In contrast to Reddit, Safeco policyholders reported generally negative experiences with Safeco in YouTube comments. Rejected claims and dropped policies were two major complaints for Safeco policyholders, along with generally negative feedback regarding customer service.
Safeco company details
Safeco offers customer support through an online portal or your local agent. Insurance claims can be filed online or via a customer service number.
- Customer service: Safeco recommends logging into the customer support center or reaching out to your agent for any policy questions or service.
- Claims: Claims can be filed online or by calling 1-800-332-3226.
- Glass claims: Glass claims can be filed online.
- Roadside assistance: 1-877-762-3101
State availability
Safeco writes home and auto insurance in all states except Alaska, Delaware and Hawaii. It is also not available in Washington, D.C. Safeco does not write homeowners insurance in Florida and has placed restrictions on new homeowners policies in certain areas of California.
Safeco tools and benefits
Safeco’s financial protection options extend beyond just vehicle and property coverage. If you’re considering the carrier and want to bundle all your policies, you should know that Safeco also offers the following coverage types:
- Motorcycle insurance: With Safeco’s motorcycle insurance, 24/7 roadside assistance comes standard with your policy.
- Classic car insurance: Safeco insures classic vehicles on an agreed value basis. Plus, if you drive less than 5,000 miles per year, you could save on your policy.
- Recreational vehicles: This policy can protect both your personal property in your RV and aftermarket audio and visual equipment.
- ATV and off-road vehicle insurance: Safeco’s ATV insurance policy includes bodily injury liability, guest passenger liability, property damage liability and gear replacement coverage.
- Renters insurance: You may get a discount if you bundle your renters insurance policy with an auto policy from Safeco.
Frequently asked questions about Safeco
Methodology
Bankrate Scores
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
