Posts Tagged ‘safeco home insurance rating’

Website – https://www.safeco.com
Located – Seattle, Washington
Phone – 1-800-242-6422
Employees – 7,200
Revenue (bil.) – $6.29
Description – While the name doesn’t tell you much about the business, Safeco does sound secure, and with insurance that counts for a lot. Through its Safeco Insurance Co., the company offers personal property/casualty insurance including auto, homeowners, and fire coverage. Its commercial business includes workers’ compensation, multiperil, and general liability geared towards small to midsized companies. In addition to its property/casualty business, Safeco also offers surety bonds to its long-term construction and corporate customers. Liberty Mutual acquired Safeco in a 2008 deal valued at $6.2 billion.

Source: http://www.hoovers.com

Reviews & Ratings

MGreen8’s Full Review of Safeco Home Insurance Corporation

As a prior employee of SAFECO Insurance Company, I can say that it is one of the best homeowner’s programs out there. I know this because I was the person who determined the value of your home in the regrettable case of a fire or other devastating event. I left SAFECO only because I moved across the country to a location where there was no Headquarters. Because I have no further vested interest in this company, I can give you an educated and honest opinion of their Homeowner products.

What most homeowners do not understand is this: if your home burns to the ground and needs to be replaced you need money to do so. The amount of coverage you place on your home determines what you get. When you’re figuring the price of your home, don’t assume it is the price you paid for it. You have to take every single detail into account; door-knobs, pipes, stairs, wiring, roofing, vents, etc. If you chose to buy a home with ornamental decoration — don’t you want your new home to have the same characteristics? SAFECO will make sure that you are covered to do exactly that.

SAFECO uses a system which takes the following into account: the age of your home, materials used to construct your home (ex: special moldings, plaster walls, etc.), size of your home, number of bathrooms, etc. This system accurately analyzes what it would cost TODAY in YOUR CITY to rebuild your home. This is the total coverage they will suggest to your Insurance Agent. Why? Because SAFECO will insure that if something happens to your home that you get the closest possible replica in the re-building process. Additionally, in the binding process, they may request an agent to do an appraisal of your home and send photos to the company. They will use these to determine even more accurate pricing.

Who wants to deal with a company that will give you less coverage for less money if in the end you aren’t really insuring the total value of what you have? Additionally, SAFECO has Claims Representatives that will travel to your home in less time than the industry standard to settle your claim. Their Claims representatives are professional and respectful. They take the time to explain everything to you.

Additionally, SAFECO offers discounts for alarm systems and if you have your auto insurance with them you’ll get a discount for placing both lines with the company.

SAFECO has one of the best training programs for Underwriters in the industry. (The UW is the person who determines whether or not you are a good risk and what limits your home should have). Because of the intense training program your insurance needs will be met and your expectations will be exceeded. You may pay a small amount more in premiums, but you’ll also be dealing with a company that will make sure you are aptly covered in the event of a tragedy.

logan1973’s Full Review of Safeco Home Insurance Corporation

In 1995, I took an entry level position with a personal lines insurance company in Gainesville, Florida. I had just graduated from college and figured I would work there for a few months until I found something in the telecommunications field.

I never left.

After gaining a bit of tenure, I progressed to positions of increasing responsibility. Two years ago, I relocated to Portland, OR with the same insurance organization.

While I would not hesitate to recommend the insurance carrier I work for to others, I have always chosen to secure my own insurance elsewhere. I do this to avoid any possible conflict of interest or perceived conflict of interest. (I liken it to auditing your own taxes or grading your own med school final examination).

After settling in to the Pacific Northwest, I bought a home. At the urging of a friend, I decided to insure with Safeco. Prior to moving to the out here, I had heard very little about Safeco.

I contacted a Safeco agent and learned a bit about his agency and the company. He was very prompt, courteous and professional. At the same time I took out homeowners coverage, I switched my automobile coverage over to Safeco as well to take advantage of the home-car discount.

That’s usually the end of the story. Most people don’t think too much about insurance until a loss.

Earlier this year, I had a loss.

I have always been on the other side of the equation – that is, I have always been part of the insurance organization not the customer with a claim. Although I would rather not have had the claim, it gave me a new appreciation for the feelings and concerns customers have when faced with an accident.

What happened? Well to make a long story short, the parking brake on my 5 spd vehicle was not fully engaged and the vehicle wasn’t in gear. It rolled down the hill and into my garage. The garage door and it’s support mechanisms were severely damaged.

Upon calling Safeco, I was asked a few questions and told someone would contact me shortly.

The claims rep called the next day and took a statement. He was patient, flexible and provided truly excellent service. Safeco did not demand I use a particular vendor to repair the garage. At the time, I was so preoccupied with other items at work, the claims rep actually followed up with me to see what progress I had made to secure estimates. Once I received an estimate, a check was promptly issued.

Never once was the claims rep I dealt with cynical or reticent to provide coverage. For a bad situation, I could not have asked for better service.

Recently, I learned Safeco is going through a major reorganization. I will continue to insure with them and hope the service I received will survive any restructuring efforts. Even if a premium increase is warranted, I would still continue to insure with Safeco.

asargent’s Full Review of Safeco Home Insurance Corporation
Safeco came through for me when some of my personal property was stolen out of the back of my truck. I went through all the standard procedures — such as reporting the theft to the police department, showing them how the break-in occured, and mailing my original receipt to Safeco — and having done that, I got a check back in reasonable time. The total theft amount was for about $2000.
I’m moving into a new place, and I’m getting Safeco insurance again.

Granted this is just one person’s opinion, but since this the first comment on Safeco Home Insurance I hope it’s useful to someone considering renter’s insurance.

Source: http://www.epinions.com