Liberty Mutual, one of the most recognized insurance businesses in the industry, owns the Safeco insurance company. Many people don’t realize that despite Safeco’s small size and lack of fame, it provides a wide range of coverage options for anything from automobiles to homes to renters to motorcycles to pets. Bankrate analyzed Safeco’s ratings and coverage options to offer you the most accurate picture of the company’s strengths and flaws.
For young drivers, Safeco has among of the best prices, and it also offers a variety of exclusive discounts and services that aren’t available anywhere else. Is there a disadvantage to this? It is likely that you will have to cope with subpar customer service. It’s clear that Safeco’s customer service isn’t fulfilling the expectations of its policyholders, based on the 33% increase in complaints it received from customers.
Customer satisfaction and complaint data for Safeco
Reviews of Safeco insurance tend to be less positive than the industry average. A.M. Best gives the corporation an “A” grade, indicating exceptional financial stability. According to JD Power’s 2020 assessment, Safeco’s 2020 JD Power rankings vary from mediocre to bad. Safeco scored 802 out of 1,000 possible points for customer satisfaction in the area of house insurance. Some sections of the J.D. Power Auto Insurance Study were slightly better than others, with scores ranging from 780 to 837. Based on clients who have obtained a quotation from a firm over the previous nine months, Safeco was the lowest-scoring mid-size insurer in the insurance shopping narrative.
In spite of Safeco’s lower-than-average customer service scores, it may still serve certain customers well, especially those who are searching for a low rate. As a result of their reputation for low rates, Safeco also offers a few discounts.
If you’re used to managing your insurance policy online and think of insurance as a last resort in the event of a pricey emergency, Safeco may be the best option for you. Policyholders who don’t need regular claim processing or reimbursements, or who don’t mind waiting a while for their money, might get cheap coverage from the provider.
WalletHub’s editors have given Safeco Insurance a score of 2.9/5 based on consumer reviews, insurance quotes, and ratings from organizations like the Better Business Bureau (BBB) and J.D. Power. However, Safeco’s customer service, discount offerings, and pricing were all rated worse than the company’s claims procedure. The NAIC score for Safeco is similarly 1.25. As a result, customers have voiced more grievances about Safeco than the usual vehicle insurance company of its size. Complaints about bad customer service and pricing hikes are among the most common reasons given.