SAFECO CAR INSURANCE REVIEW 2023: All To Know

Choosing the right car insurance is a crucial decision that directly impacts your peace of mind on the road. In this comprehensive guide, we’ll take a closer look at Safeco car insurance, one of the prominent players in the insurance industry. From coverage options to customer service and everything in between, our goal is to provide you with all the essential information you need to make an informed decision when it comes to safeguarding your vehicle and yourself.

Safeco Car Insurance Review: Overview

Safeco has an overall performance rating of 3.5 stars out of 5 on Nerdwallet. This demonstrates that it is a highly regarded auto insurance provider. It offers a range of insurance products, including personal auto insurance and various other types of coverage. Given that it was acquired by the sixth-largest auto insurance seller in the United States, Liberty Mutual, it is reasonable to expect an increase in its performance in time to come. The auto policies provided by the company offer distinctive characteristics, like accident forgiveness and deductibles, among others.

Safeco provides a diverse range of optional coverage options, some of which surpass the offerings of other auto insurance providers. For instance, Safeco’s emergency help package includes coverage for roadside assistance as well as reimbursement for emergency expenditures related to meals and housing. Interestingly, the policy also includes coverage for personal items that have been destroyed or stolen while inside your vehicle.

Additionally, Safeco offers an enhanced automobile replacement coverage option that provides reimbursement equivalent to the current market value of a vehicle that is one model year newer than the insured car that has been declared a total loss.

Safeco Car Insurance Review: Coverage

Most states, by law, demand a certain level of car insurance coverage as mandatory before driving in the state. These are basic coverages that lack the financial strength to cover losses if the need arises. Safeco provides a comprehensive range of fundamental automobile insurance coverage options that cater to the requirements of most drivers. The following are some of these policies:

#1. Liability Coverage

This insurance policy provides coverage for the financial liabilities arising from bodily injuries or property damage caused by the policyholder in an accident when they are deemed at fault. The acquisition of liability coverage is mandated in nearly all states.

#2. Personal Injury Protection

Personal injury protection (PIP), sometimes known as no-fault insurance, provides coverage for medical expenses and additional expenditures like lost income and burial payments in the event of an accident. This coverage applies regardless of fault and extends to both the policyholder and their passengers. Personal Injury Protection (PIP) coverage is mandated in certain states.

#3. Uninsured or Underinsured Motorist Coverage

Uninsured or underinsured motorist coverage, also referred to as UM/UIM, provides financial compensation for an individual’s medical costs in the event of an accident caused by a driver without insurance coverage or possessing insufficient coverage to fully address the injured party’s medical bills. Like general liability coverage, uninsured or underinsured motorists (UM/UIM) coverage is mandated in certain states.

#4. Collision Coverage

Regardless of your level of fault in the accident, this insurance policy covers the costs of repairs for any damage your car sustains as a result.

#5. Comprehensive Coverage

This policy covers damage to your car from causes other than collisions, including inclement weather, hailstorms, floods, fires, falling objects, acts of vandalism, and theft.

#6. Medical Payments

This insurance coverage, also known as MedPay, aims to cover medical expenses incurred by both the policyholder and passengers in the event of a covered accident. However, it is important to note that the benefits offered by MedPay are typically limited, ranging from $1,000 to $10,000.

Safeco Car Insurance Review: Additional Coverages Offered

Safeco provides a variety of supplementary automobile insurance coverage add-ons, sometimes referred to as endorsements, which include the following options:

#1. Vehicle Replacement Coverage

In the event of a total loss or theft, this policy will provide a replacement vehicle of the same make and model if the automobile is less than one year old and has accumulated fewer than 15,000 miles.

#2. Rental Car Reimbursement

During the period of your car’s restoration, this insurance coverage might assist in mitigating the expenses associated with procuring a rental vehicle.

#3. Roadside Assistance

Adding roadside assistance to your insurance policy will give you access to round-the-clock support for a range of services, including towing, tire replacements, jump-starts for depleted batteries, fuel and fluid delivery, and lockout assistance.

#4. Claims-free Cashback

If a policyholder refrains from submitting a claim for a consecutive period of six months, they will be entitled to an automatic reimbursement of 2.5% of their premium for each policy period. This reimbursement is capped at a maximum of 5% annually.

#5. Diminishing Deductible

If a claim is not filed with Safeco on an annual basis, the deductible will progressively drop over five years, potentially resulting in savings of $500 if a claim is eventually filed.

Safeco Car Insurance Review: Pros

The following are some of the pros of choosing Safeco for your car insurance:

A diverse range of supplementary insurance options
Rates are below the average
The Free Cash Back program has advantages for individuals operating vehicles who want cost-effectiveness
Fair customer service
Drivers who desire to monitor their driving behavior in real time can use RightTrack to obtain discounts.
A mobile application that proves to be beneficial for bill payment and claim filing.

Safeco Car Insurance Review: Cons

The following are some of the disadvantages of choosing Safeco for your car insurance:

The AM Best financial strength rating is not as high as that of other major insurers
Don’t put all the discount and coverage options online
Some customers complain of being dropped unexpectedly
Rated below average by J.D. Power for customer satisfaction
The financial strength rating of this insurer may not be as high as that of other prominent insurers.
The web platform may not provide comprehensive information regarding all available discounts and coverage alternatives.
Certain clients have expressed dissatisfaction about experiencing unexpected disconnections.
According to J.D. Power, the consumer satisfaction rating for the product in question falls below the average level.
The customer satisfaction scores on auto insurance claims are currently below the mean.
Some policyholders report issues with the claims process

Safeco Car Insurance Review: Cost

On average, the monthly cost of Safeco auto insurance is $117, which amounts to an annual expenditure of $1,405. This is a comparatively lower cost than its competitors for a comprehensive policy encompassing bodily injury liability limits of $50,000 per individual and $100,000 per occurrence.

Safeco Car Insurance Review: Discounts

The Safeco website provides a limited selection of possible discounts, but engaging in a conversation with a representative can provide an exploration of various discount choices that align with your specific circumstances. Safeco offers a range of auto insurance discounts that are available to policyholders.

#1. RightTrack Discount

Upon enrolling in this usage-based program, the RightTrack application will proceed to monitor your driving behavior for a trial period spanning 90 days. Upon the completion of the 90 days, conscientious drivers will be eligible to receive a discount.

#2. Accident-free Drier Discount

Individuals who maintain a driving record devoid of recent accidents may be eligible to receive a reduction in their insurance price, provided they continue to uphold this record.

#3. Accident Prevention Course Discount

One potential avenue for cost reduction with Safeco insurance is through enrollment in authorized accident prevention courses.

#4. Safety Features Discount

It is possible to receive a discount on insurance premiums if a person’s vehicle has distinctive safety features (Safeco does not specify the specific features).

#5. Multi-policy Discount

Consolidating various insurance plans, such as homeowners or renters insurance, together with auto insurance under Safeco’s coverage may result in potential cost savings for your automobile insurance

Is Safeco Car Insurance any Good?

Safeco Insurance has 3.5 stars out of 5 in terms of overall performance. It also has an A rating (excellent) from AM Best for financial strength. With this, it’s safe to say it’s a good company.

Is Safeco Good at Paying out Claims?

According to WalletHub AM Best has determined that Safeco exhibits financial soundness that surpasses the average. However, J.D. Power and the NAIC’s analysis show that Safeco’s claims procedure and customer satisfaction need to meet ideal standards.

How Does Safeco Determine Car Value?

Insurers determine the actual cash value (ACV) of a car by considering factors such as the vehicle’s condition and mileage. Additionally, they rely on authoritative sources such as the National Automobile Dealer Association (NADA) and Kelly Blue Book for reference.

Who owns Safeco Insurance?

Liberty Mutual Agency Corporation

Safeco Car Insurance Review: Quote

You can get a quote on Safeco or simply use other third-party platforms that are lead-generation insurance platforms. You may have to check more than one or simply speak with an agent to get a competitive rate.

Safeco Insurance Reviews BBB

Safeco has an A+ rating on BBB but it’s not accredited by BBB. In terms of the star ratings in line with customers’ reviews, they have just 1.09 out of 5-star ratings. Although Safeco Insurance is not BBB accredited, its parent company, Liberty Mutual, is, and there may not be a need for it to be accredited with an A+ rating.

Who is Better, Progressive or Safeco?

Both providers provide comprehensive coverage options at affordable costs. However, Progressive has superior customer satisfaction scores. Safeco, on the other hand, is a more suitable option for certain consumers; hence, it should not be disregarded in the search for insurance.

Is Liberty Mutual and Safeco the same?

Safeco is a subsidiary of Liberty Mutual, establishing its affiliation with one of the most prominent insurance corporations in the United States. Safeco home insurance provides a range of supplementary options, such as coverage for equipment malfunctions and protection against identity theft.