Our verdict: Safeco is a Liberty Mutual company that offers excellent coverage across the US. You’ll enjoy affordable customization options and damage assessment via video call to speed things up.
Safeco was founded in 1923, and today it’s a Liberty Mutual company and belongs among the largest insurers in the US. Safeco home insurance is sold through a network of independent agents and other underwriting companies like America First Insurance Company, Liberty Mutual, West American Insurance Company, and others.
With Safeco, you can file your claims online or over the phone and get 24/7 assistance. Its RealTime Review system helps you get damage assessment via video call. Keep reading to find out more about the property insurance policies you can purchase at Safeco.
Safeco Home Insurance Pros and Cons
There are many things to consider when selecting an insurance company. Some have better customer support, while others offer more discounts. Our list of Safeco’s strong and weak sides can help you decide if it is the best option for you.
- Comprehensive coverage options
- Easy claims process
- Variety of insurance products
- Affordable add-ons
- Damage assessment via video call
- Available in most states
- High insurance premiums
- Below-average customer service rating
Safeco Homeowners Insurance Overview
Safeco is known for its great home insurance coverage. You can customize the standard and optional policies to fit your needs and budget. The best way to determine the level of coverage you need is to discuss it with a licensed agent.
With Safeco, you’ll also have access to a Home Warranty feature. The company partnered with American Home Shield to provide a service that covers usual wear and tear. Furthermore, Safeco insurance is available in 48 states.
Let’s explore the features of Safeco home insurance and other property-related insurance policies.
Safeco’s website is packed with detailed information about its homeowners policies, so you won’t have any issues finding out the essentials. The coverage is divided into a standard and an optional type.
The standard policy includes personal property and liability, so you’ll be covered if you cause damage to others. The insurance protects your dwelling from named perils, such as fire, hail, theft, vandalism, and others.
Finally, the standard Safeco home insurance coverage has a personal property replacement cost, and it will pay the actual cash value for items listed in the contract. The list of add-ons to customize your policy includes:
- Valuable articles coverage — protection for high-valued items
- Equipment breakdown — secures household equipment
- Service line — related to potentially waived deductibles
- Extended dwelling coverage — increases policy limits
- Identity recovery —helps restore your identity after a theft
- Guaranteed repair network — connects you with experts for estimates and repairs
Your landlord likely has an insurance policy that protects the home you live in. However, you should have a policy that protects you and the things you own inside those walls. The standard renters Safeco home insurance coverages include:
- Personal property coverage
- Additional living expenses
The policy add-ons include:
- Valuable articles coverage
- Personal property replacement cost coverage
- ID theft recovery
Condo insurance can protect the items in your unit, yourself, and your family members. It also has a standard and optional coverage, and the standard one includes:
- Personal property
- Additional living expenses
The available Safeco condo insurance add-ons are:
- Valuable articles coverage
- Personal property replacement cost coverage
- Identity recovery
You should consider purchasing landlords insurance, as it offers slightly different coverage than the classic home insurance policy, such as:
- Extended dwelling — up to 25% more protection
- Premises liability — protection against libel, slander, wrongful eviction, and similar
- Wind and hail — insures the windows on your property
- Fair rental value — covers the rent lost due to repairs
This type of Safeco homeowners insurance also comes with customizable options:
- Inflation protection — coverage for a loss in a time of inflation
- Additional valuable coverage loss — water backup and sump coverage, theft of personal property, and similar
- Limited Liability Company coverage — a great option if you establish an LLC for rental properties
The Home Warranty option can relieve you of the hassle of making repairs. Safeco partnered with American Home Shield and provides 24/7 service of 17,000 licensed contractors who can repair your AC, fridge, and other appliances.
Know that this is a standalone product, and you don’t have to purchase any insurance to get it.
Safeco offers flood insurance through the National Flood Insurance Program as a separate policy. The cost varies by state, and landlords or the state may require that you purchase it.
If you live in Florida, you might also have access to private flood insurance companies. However, floods don’t happen only in coastal areas, and you should consider such a policy, regardless of where you live.
Safeco provides earthquake insurance aimed at rebuilding your home and other properties if needed. The policy is available for residential properties, comes with a few discounts, and covers the following items:
- Personal belongings
- Appliances and furniture
- Debris removal and similar
Safeco also has a great mobile app that’s available for Android and iOS. It provides seamless login, the option to contact your agent, and access all your information in one place.
You can use the Safeco insurance app to pay your bills, review current policies, receive notifications about the documents you need to sign, and more.
This app is great for auto policyholders since you can use it for roadside assistance, upload pictures of the damage, and search for auto repair shops. The recent reviews show that a couple of users had issues with a blank screen. Regardless, the app is generally well-rated.
When it comes to Safeco home insurance reviews of its financial strength, A.M. Best ranks it with an A (Excellent) rating. Moody’s assigned it an A2 rating, and S&P gave it an A- (Strong).
Since Safeco is backed by Liberty Mutual, which is a Fortune 100 company, there’s no reason to expect issues with your claims. These financial ratings are solid, and Safeco has a stable outlook.
Safeco’s website has a dedicated section where you can find how to contact customer support. You can also read the blog about Safeco homeowners insurance and explore other resources. However, you’ll have to log in to access customer support.
Unfortunately, recent customer reviews are poor — primarily about billing issues and lack of customer support. In its 2020 Home Insurance Study, J.D. Power ranks Safeco with 802/1,000, which is below the average.
If you face issues, we advise you to remain persistent in your efforts with customer representatives.
- Nerdwallet – 4
- Consumeraffairs – 3.1
- WalletHub – 2.3
- Clearsurance – 4.04
Safeco Home Insurance Quote
Before you consider purchasing a home insurance policy, you should factor in your location, home age, and the type of coverage you need. All that, together with the deductible and selected add-ons, will affect the final cost of your insurance policy.
Safeco offers relatively affordable premiums. Estimations show that for a dwelling worth $250,000, the annual cost is about $1,841, which is about $150 per month. This price is higher than the national average. Still, Safeco offers many discounts to help you save.
Safeco Insurance Discounts
We’ll list and explain all available discounts for property-related insurance policies.
This discount is available if you combine homeowners and auto policies.
If your home has an alarm, fire, or smoke system, you can apply for this deal.
You could save money if you get your quote in advance.
If you combine renters and auto insurance, you might be eligible for this offer.
Pay in Full
You’ll lower your Safeco home insurance payment if you take care of the full sum at once.
If you decide to increase your deductible, that will lower the cost of your insurance policy.
This discount is available if you insure your rental property and home. By purchasing these two policies, you might qualify for 5% credit.
Discount for Homeowners and Landlords
That is another discount for those who insure their home and rental properties. With this deal, you might get 5% off.
Safeco Home Insurance Rates Comparison
Below, we’ll compare the prices of other insurance companies and Safeco to give you an overview of the different offers.
Safeco vs. Allstate
Allstate is a well-known US insurer, and its home policies cost more than with other providers. Your premium will depend on the type of insurance policy, coverage, add-ons, and discounts you’re eligible for.
Based on research, the average annual premium of a home insurance policy at Allstate is $1,730. On the other hand, Safeco homeowners insurance quote is higher, with an average yearly premium of $1,841.
Both companies have substantial discounts, but they are not among the most affordable options on the market.
Safeco vs. GEICO
GEICO works similarly to Safeco — it isn’t a direct provider of insurance policies. Instead, you’ll be matched with other insurers via its website. The price of your policy with GEICO depends on your location, home age, coverage, and other factors that apply to a Safeco home insurance quote as well.
In general, GEICO is known for inexpensive insurance policies, as monthly premiums are close to the national average of $100, yet might be higher in some states. Still, GEICO appears to be a more affordable alternative.
Overall Competition Comparison
The price is an integral part of your home insurance, but you should also consider the financial strength, policy availability, and customer support quality of the company you decide to go with. Here’s how Safeco measures up.
Safeco vs. State Farm
State Farm’s financial strength ratings show it’s a company with enough funds to pay out claims. A.M. Best ranks State Farm with A++, and S&P gives it an A. For comparison, A.M. Best rates Safeco with an A (Excellent), Moody’s with an A2, and S&P with an A- (Strong).
Regarding customer support, J.D. Power gives State Farm a score of 829/1,000 in its 2020 Home Insurance Study, while Safeco has 802/1,000. That shows State Farm is performing below expectations, but Safeco’s customer support has even worse reviews.
State Farm’s insurance policies are available in all states except Massachusetts, New York, and Wisconsin, while Safeco serves more states.
Safeco vs. Liberty Mutual
Liberty Mutual owns Safeco and is known for its excellent ability to meet its policyholders’ expectations. A.M. Best gives Liberty Mutual an A rank, just like S&P, and Moody’s assigned it an A2.
In its 2020 Home Insurance Study for customer satisfaction, J.D. Power ranks Liberty Mutual with 805/1,000, meaning its customer support is not the best. Its insurance policies are available in fewer states than Safeco’s.
Safeco vs. Progressive
A.M. Best ranks Progressive with an A+, S&P gives it an AA rating, and Moody’s assigned it an Aa, meaning Progressive can meet financial requirements and has low credit risk.
However, in J.D. Power’s 2020 Home Insurance Study, Progressive has a score lower than Safeco and Liberty Mutual — 797. That shows Progressive’s customer support should definitely improve. Similar to Safeco, Progressive provides home insurance in all 50 states.
Safeco has an excellent website with detailed information about its policies. Currently, Safeco home insurance goes through a network of independent agents and other underwriting insurers.
The coverage is comprehensive, with excellent affordable add-ons to customize your policy.
Safeco offers a Home Warranty feature through American Home Shield that serves to fix some of your home appliances. If you want extended coverage and an easy claims process, Safeco is the right choice.
However, its customer support could be improved, and the insurance premiums could be lower. So, if you prioritize affordability and good customer support, we advise you to look for other insurers.
People Also Ask
Safeco has many decades of experience in the industry and is backed by Liberty Mutual, which is a known insurer in the US. It has tools to speed up your claims submission, and you can get damage assessment via video call.
Overall, the home insurance coverage is comprehensive, with valuable add-ons. Safeco also has a good list of discounts to help you lower your costs. Even though its customer support could improve and the monthly premiums can be lower, Safeco provides an excellent and easy claims process.
Liberty Mutual is the sixth-largest global insurer with 45,000 employees across the world. It offers services in 29 countries, and it’s been a parent company to Safeco since 2008.
The cooperation enabled Safeco to focus on personal insurance and improve its services. Today, Safeco offers a variety of insurance policies across the US with great coverage and options to expand insurance to cover essential personal items.
Safeco homeowners policies come with standard and optional coverage. The standard insurance includes the dwelling, personal property, liability, and personal property replacement cost coverage.
The optional coverages are different for homeowners, condo, or renters policy and usually include protection for high-valuable items, extended dwelling coverage, ID theft protection, and similar.
There’s also a Home Warranty, so Safeco’s partners can help repair your appliances in some cases.
There’s a lot to consider when it comes to home insurance, and the cost is among the crucial things. Many factors determine how much you’ll pay for your homeowners policy — your location, home age, and the coverage you need.
Safeco insurance policies tend to be higher than the national average, costing about $150 per month. GEICO’s policies are more affordable, with a $100 monthly fee. Still, both insurers offer discounts that you can save with.
There’s a difference when it comes to water damage and flood damage. If the water damage is not caused by inadequate maintenance, you might be able to submit a claim. On the other hand, you’ll have to purchase the appropriate coverage if you live in a flood-prone area.
Safeco offers an add-on for valuable coverage loss that protects you from water backup and sump coverage, but it’s available for landlords insurance. To check if you’ll be protected from water damage, consult with an agent.
Natural disasters can happen at any time. Your property insurance will likely include roof replacement in case of hail damage. The same goes for the weight of snow, wildfires, and similar peril. Know that you may also have a higher deductible.
You can check whether you have such coverage by either logging into your mobile app or reaching out to a Safeco agent and asking your policy details. If you experience such damage, make sure to document it, protect it from further harm, and wait for a claims adjuster to visit. That’s the best way to utilize Safeco home insurance.