Safeco Home Insurance Company Review: Pros and Cons

Safeco Home Insurance Company Review: Pros and Cons.

Safeco Home Insurance: A home is not just a long term asset that we buy, it is also the place where live our lives, and store our belongings. That’s why it is so important to protect the home you own with insurance.

Safeco Home Insurance

The first thing you need to know about any homeowners insurance is what it covers. It covers the home and its contents In case there is a fire or other event that causes damage or if your property is stolen or vandalized.

SafeCo is a home insurance company that caters to your needs and budget. Safeco is all about making insurance very easy. From getting a quote to filing a claim, the company offers the coverage and the personalized customer service you need to give you peace of mind. The plans are affordable and flexible, so you can purchase all the coverage you need and skip anything you don’t need.

Key Features of Safeco Home Insurance

  • Backed by Liberty Mutual: Safeco’s policies are underwritten by Liberty Mutual Insurance. Liberty Mutual has received a strong financial strength ratings from A.M. Best, Moody’s and S&P, which is a great proof that the company will be able to pay out when you need them to.
  • Can not purchase a policy online: You can fill out an online application and receive an estimate of how much your homeowners insurance will cost, but to purchase a policy, you will have to speak to a local agent.
  • Large network of independent agents: Safeco sells homeowners insurance through its network of independent agents which are located in 46 states. This makes it a great choice if you prefer to deal with a local agent who knows your name rather than a customer sales rep in a faraway call center.
  • Combine home and auto policies: Safeco takes bundling one step further by offering a Safeco package that combines home and auto coverage on a single policy. You are only required to pay one deductible, which can save you quite a bit if your home and car are damaged in the same accident.
  • Few discounts: Safeco gives a discounts to customers who bundle their home and auto policies and for homes less than 10 years old.

Generally, homeowners discounts are not as much as auto insurance discounts, but most insurers give their customers more opportunities to save, such as claim-free discounts.

More Features of Safeco Home Insurance

Features of Safeco Home Insurance

  • Covers temporary housing: If your home is damaged and you have to rent a place temporarily until the repairs are finished, Safeco will cover your living expenses for up to two years.
  • Personal property replacement: Safeco’s personal property replacement coverage pays you the full cost of replacing your items up to your policy limit, even if that cost is more than what your personal property was worth.
  • Equipment breakdown coverage: This coverage functions like a warranty on your appliances, paying up for unexpected breakdowns not resulting from corrosion or normal wear and tear. Safeco will replace your appliance with a comparable Energy Star model if your appliance gets spoilt,
  • Extra coverage for your valuables: If you own an expensive jewelry, art or antiques, you can purchase extra protection for these items. You and Safeco settle on a price for each of the articles and if that item is stolen or damaged, you’ll be refunded the agreed-upon amount, and you won’t have to pay a deductible.
  • Identity theft coverage: Safeco’s identity recovery coverage will assist you with the process and expenses of restoring your identity. You also get an access to a dedicated case manager who will assist you in undoing the damage caused by an identity thief.
  • Easily create your home inventory: Safeco’s Home Inventory app helps you to take pictures of the items in your home and store receipts and other information which makes it easier for you to get your money when you need it.

Pros and Cons of Safeco Home Insurance

Pros

  • Local agents. At Safeco, your independent agent can be the one you go to for questions and policy changes.
  • Simple, 24/7 claims. Safeco sets up a smooth process with online claims filing & meeting your adjuster through a video call.
  • Sound finances. Safeco is backed by the big-name insurer Liberty Mutual, helping the company stand on a firm financial ground.
  • Equipment breakdown coverage. Replace some appliances with an ecofriendly equivalent.

Cons

  • No safety discounts listed. The company does not advertise common discounts for devices like fire sprinklers, theft alarms or security systems.
  • Average ratings. Safeco has an average ranking.

How to Apply For Safeco Home Insurance

To start a Safeco home policy, You should apply online or through a local agent. You can find the nearest agent by using the company’s independent agent location tool, which searches for agents by address, state of residence or agency name.

To apply online:

  1. Enter your ZIP code & select Homeowners from the home insurance quotes page. Click Start Quote.
  2. Provide basic personal information to begin. Click Next.
  3. Enter basic details about your home. Click Next.
  4. Confirm specifics about the size of your home and construction. Click Next.
  5. Complete questions about the discounts you might qualify for.
  6. Receive your quote, choose coverage and begin your policy. Have it in mind that some homeowners may need to contact a representative to finish their estimate.

The Competition

  • Allstate: Allstate offers a solid coverage and a decent selection of riders, so you can customize your policy to suit your needs. It also offers a special RateGuard option, which works like accident forgiveness on your home. You won’t have to worry about your rates going up following your first claim. Allstate has a good selection of homeowners discounts, but in spite of this, its rates are typically not as affordable as those offered by the other companies on this list.
  • Geico: Geico does not sell its own insurance policies. Instead, it will pair you up with one of its partner lenders in your area. Customers appear to be happy with this arrangement since Geico scored above average in the J.D. Power customer satisfaction survey.
  • Progressive: Like Geico, Progressive does not sell its own homeowners policies. When you get a homeowners quote through Progressive, you will be  paired with one of its partner insurers.
  • State Farm:It doesn’t offer much in the way of homeowners discounts and its rates may not be quite as low as what you can get through Progressive or Geico, but its selection of policy endorsements makes it a good choice for those who want a flexible insurance policy.

The Bottom Line

The Bottom Line Safeco Home Insurance

Safeco offers flexible coverage you can customize to suit your own needs, but they do not live up to their claims in terms of customer service. If this concerns you, you may be better off going with another company known for their customer service, like State Farm.

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