Safeco Car Insurance Review 2020 – Investopedia

Execs Defined

• Bundling reductions: Clients can save as much as 15% by bundling auto and residential insurance coverage insurance policies in a Safeco Bundle.
• A number of reductions for younger drivers: Safeco gives a number of methods to economize via its Teen Security Rewards program, together with reductions for good grades, finishing an authorised driver training program, and for teenagers away from residence with out a automotive.
• Proper Monitor low cost program: A plug-in that simply installs into your automotive that screens driving habits to reward good drivers with reductions.

Cons Defined

• Low buyer satisfaction rankings: Safeco’s rating within the J.D. Energy 2020 U.S. Auto Claims Satisfaction Research falls properly under the trade common.
• Should undergo an area agent: To get a quote or join Safeco, you need to undergo an impartial native agent. There’s no choice to obtain a quote on-line.
• Rideshare insurance coverage not accessible in all states: Sadly, rideshare protection is presently solely accessible as an add-on in simply 13 states: Arizona, Colorado, Illinois, Indiana, Kansas, Minnesota, Missouri, Oklahoma, Oregon, Tennessee, Utah, Washington, and Wisconsin.

COVID-19 Help

Because of financial hardships attributable to the COVID-19 pandemic, Safeco waived late charges and continued protection for patrons with overdue funds via June 15, 2020. Safeco additionally created the Private Auto Buyer Reduction Fund to offer prospects with 15% refunds on two months of auto insurance coverage premiums.

Safeco prospects who proceed to expertise monetary hardships can contact Safeco to assessment protection and fee choices going ahead. 

Safeco Automotive Insurance coverage Protection

Safeco gives the next automotive insurance coverage protection choices:

Collision: In case your automotive is in an accident, collision insurance coverage pays for damages to your automotive or its alternative.

Complete: In case your car suffers harm due to circumstances apart from accident or theft, complete protection pays for damages or alternative. 

Legal responsibility: In case you’re chargeable for an accident you have been a part of, legal responsibility insurance coverage via Safeco is obtainable two methods: 

• Bodily Harm Legal responsibility: It helps pay for bills like hospital payments and medical take care of the opposite social gathering. 
• Property Harm Legal responsibility: It helps pay for damages to the opposite social gathering’s car or actual property.

Emergency Roadside Help: In case you’re stranded greater than 25 miles from residence, Safeco offers commonplace roadside help and covers as much as $100 for bills and as much as $500 for meals, lodging, and transportation. 

Rental Automotive Reimbursement: In case your automotive is within the store due to a coated loss, Safeco helps cowl the price of a rental automotive.

Private Harm Safety (PIP): In case you or any passengers undergo accidents in an accident, private harm safety helps pay for any medical bills regardless of who was at fault. 

Uninsured and Underinsured Motorist: In case you’re in an accident and the opposite driver is at fault, this protection helps pay for repairs and medical payments if the at-fault driver has no protection or too little protection. 

Mortgage/Lease Protection: In case your automotive is asserted a complete loss, mortgage and lease protection, also referred to as hole insurance coverage, pays the distinction between your mortgage steadiness and the depreciated avenue worth of your car. 

New Automotive Substitute: In case you’re the unique proprietor of a totaled or stolen automotive that is lower than one yr outdated, new automotive alternative pays you the worth of a comparable new automotive.

Rideshare Protection: In case you use your car to generate profits as a rideshare driver, this protection helps pay for any incidents that happen throughout instances you drive for a transportation community firm like Uber or Lyft.

Further Safeco auto protection choices embody: 

• Digital Key and Lock Substitute
• CD and DVD Substitute
• Audio-Visible and Customized Tools Protection
• Pet Protection
• Private Property Protection

Safeco Automotive Insurance coverage Reductions

Safeco gives a number of reductions to its prospects. Availability varies primarily based on location. Reductions embody:

A number of Coverage Low cost: It can save you as much as 15% once you bundle insurance coverage insurance policies collectively via Safeco. 

A number of Car Low cost: Obtain a reduction for those who insure a number of automobiles below the identical coverage. 

Security Reductions: It can save you cash by holding a clear driving report, finishing an accident prevention course, or driving a secure automotive. 

Teen Driver Reductions: Safeco’s Teen Security Rewards program offers a number of methods for teen drivers to earn additional reductions.  

Drive Much less Low cost: It can save you as much as 20% by holding your mileage low. 

Anti-Theft Low cost: Putting in anti-theft gadgets can get monetary savings off your auto premiums. 

Home-owner Low cost: In case you personal and reside in a single-family residence, townhouse, condominium, or cellular residence, you possibly can earn additional financial savings in your auto insurance coverage. 

Anti-Lock Brakes Low cost: In some states, you’ll obtain a reduction in case your car was manufacturing facility geared up with a four-wheel anti-lock braking system (ABS).

Safeco Automotive Insurance coverage Availability

Safeco auto insurance coverage is out there in all 50 states and the District of Columbia.

Safeco Buyer Service

Most customer support wants are dealt with via your native impartial Safeco agent. You may also attain Safeco’s buyer assist by calling 1-800-332-3226.

Safeco carried out poorly within the J.D. Energy 2020 U.S. Auto Claims Satisfaction Research, rating 14 out of 25 insurance coverage firms, under the trade common.

AM Finest is the credit standing company that points opinions on insurance coverage firms’ monetary stability and talent to pay out its advantages once you file a declare. In 2019, Safeco acquired an A (Wonderful) Monetary Energy Score from AM Finest. 

Criticism Index

The Nationwide Affiliation of Insurance coverage Commissioners (NAIC) maintains a database of complaints acquired about insurance coverage firms. Annually, it releases a grievance ratio for insurance coverage firms, which is the variety of complaints the NAIC acquired relative to its market share.

The NAIC considers scores of 1.zero to be common. Something above 1.zero means the corporate acquired extra complaints than common, whereas scores under 1.zero imply the corporate acquired fewer complaints than common. In 2019, Safeco’s general grievance ratio was 1.98, that means it acquired extra complaints than is predicted for an organization of its dimension. The insurance coverage firm’s 2019 grievance index for personal passenger auto insurance coverage was 1.34.

Different Insurance coverage Offered by Safeco

Safeco gives a number of insurance coverage merchandise, together with: 

The right way to Make a Automotive Insurance coverage Declare With Safeco

You’ll be able to file a declare with Safeco via your on-line account, Safeco’s cellular app, or by calling 1-800-332-3226. Declare telephone assist is out there 24 hours a day, seven days every week. 

If you file a declare, you’ll want the next info: 

• Your Safeco coverage quantity
• Contact info
• The incident date and outline 
• Ensuing harm

When you file a declare, you possibly can monitor its progress on-line or via the cellular app. You may also add photographs of any harm via the app, accessible on iOS and Android.

Safeco Automotive Insurance coverage Cancellation Coverage

To cancel your Safeco automotive insurance coverage coverage, name your native impartial agent or Safeco’s buyer assist line at 1-800-332-3226. Have your identify and coverage quantity helpful to offer to the agent or consultant. 

All the time ask for both written or e mail affirmation of your cancellation earlier than hanging up the telephone. Confirm your renewal date and discover a new insurer earlier than you cancel to make sure there’s no lapse in protection. 

Get a Safeco Automotive Insurance coverage Quote

You may get a Safeco automotive insurance coverage quote on-line or you possibly can name considered one of Safeco’s native impartial brokers or 1-844-913-0052 to get a quote over the telephone.

To obtain a quote, you may want to offer private info for your self and another drivers together with:

• Identify
• Handle
• Birthday
• Gender
• Marital standing
• Schooling stage
• Age when first licensed
• Occupation
• Yr, make, and mannequin of automotive
• Estimated annual mileage
• Driving report

Verdict

There’s loads of alternatives to economize with Safeco via its big selection of reductions, however they usually don’t supply the very best charges available in the market. Safeco is an effective possibility for drivers who plan to handle their accounts via cellular and digital instruments. Bear in mind that you could solely join protection via an area agent, not on-line. 

Safeco is an effective match for younger drivers, individuals who don’t drive that always, and folks with a number of insurance policies. Its fame for below-average buyer satisfaction is one thing to think about in your resolution. 

Evaluate Different Automotive Insurance coverage Opinions

Discovering the correct automotive insurance coverage on your wants can’t solely prevent cash but additionally complications down the highway. Due to completely different underwriting processes, premiums can fluctuate from one insurer to the subsequent. Your greatest guess is to get quotes from a number of insurers to search out the very best automotive insurance coverage firm on your particular auto protection wants. 

Methodology

Investopedia is devoted to furnishing customers with unbiased, complete evaluations of automotive insurance coverage suppliers. We reviewed every insurance coverage supplier’s protection choices, accessible reductions, buyer companies, and satisfaction scores to make sure that our content material helps customers make the correct insurance coverage resolution for his or her wants.

Let’s block adverts! (Why?)