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SafeCo Home Insurance Review
SafeCo provides homeowners insurance that caters to your needs and budget. However, their growing reputation of having lackluster customer service can make or break their deals.
A reliable insurance company with an impressive line of homeowners coverage options, this can be an easy way to describe Safeco Insurance. After 100 years in the business, SafeCo has transformed from being a small insurance company in Seattle to having multiple clients in several states in the U.S. They are also backed by Liberty Mutual, which means that they have a reliable financial standing that supports their coverage options.
SafeCo Home Insurance Policies
SafeCo offers a wide range of homeowner insurance coverage. The wide range of options help clients when selecting the right insurance plan that suits their budget and needs. There are 3 coverage tiers to choose from, which are Essential, Optimum, and Ultra. SafeCo also offers the New Quality Plus Option as an optional coverage plan. All these options provide protection for the structure of the home. SafeCo provides an impressive coverage option for personal property.
Apart from the dwelling coverage, SafeCo offers the following coverage options:
Identity Recovery – Identity theft is becoming a major concern for people. Victims of identity theft can claim reimbursement for lost wages and expenses incurred for identity recovery of up to $25,000.
Equipment Breakdown – This coverage is not common, which is why this option provides SafeCo with a competitive advantage. For an added deductible of $2, clients can replace an appliance that has broken down with an Energy Star® rated appliance provided that the damage is not caused by common wear and tear or property depreciation.
Valuable Articles – Clients can also opt to get insurance coverage for high-value items like jewelry, antiques, and art pieces. This coverage option allows for an itemized listing of possessions. However, one can also opt for grouped coverage in order to prevent itemizing one’s belongings.
Personal Liability Coverage – When a guest is injured in a client’s property, the personal liability coverage helps cover expenses incurred due to the accident. This coverage also helps pay for legal expenses, especially in cases where the client is legally responsible for the accident.
Additional Living Expenses – As part of the basic SafeCo insurance, clients may also claim for temporary living expenses during the period when the home is being rebuilt or repaired. SafeCo can help pay for these expenses for a period that doesn’t exceed 2 years.
SafeCo Home Insurance Discounts – Save Up On Your Plan
Multiple Policy Discount – This is probably the most common discount offered by property insurance companies and SafeCo is no exception. The more insurance plans are combined, the higher the savings offered to the homeowner.
New Home Discount – Availing dwelling insurance for homes that are less than 10 years old will be cheaper and will allow the homeowner to take advantage of the new home discount option.
Higher Deductible, Lower Premium – The insurance deductible is defined as the payment that the insured needs to pay first. Once the cost is higher than the deductible, the insurance coverage will help pay for the remainder of the cost. If one declares a higher deductible, SafeCo will be able to offer a lower premium on the insurance plan.
Full Payment Discount – SafeCo offers a discount for people that pay their premiums in full. This means that paying the premium in full is cheaper compared to paying in monthly installments.
SafeCo Online Tools
Similar to most insurance companies, SafeCo is also gearing towards developing several online resources. They offer billing services and payment options on their website. Moreover, clients can also choose to manage their SafeCo accounts online. However, SafeCo doesn’t offer an online application for their policies.
There are also voice and mobile apps being offered to clients for added convenience. With the use of the SafeCo mobile app, users can access their online account in a mobile-friendly format. Moreover, they can store accident photos in the app to help process their claims faster. Another safety feature of this policy is the roadside assistance section where the clients can use the app to call for help during an emergency.
Apart from these online tools, SafeCo’s website also contains information and tips on what to do during emergencies. SafeCo partnered with Amazon’s Echo, Tap, and Dot devices to enable the Insurance Advisor Skill option for Alexa. This feature allows Alexa to answer any queries that you may have regarding your insurance.
The Pros And Cons Of SafeCo Home Insurance
Pros
Excellent Online Resources – SafeCo’s online resources may not be the best in the industry, but the online services offered on their page are still impressive. Their mobile app is also functional and offers several convenient services.
Wide Range Of Coverage Options – A.M. Best has given SafeCo an A (Excellent) rating for their financial strength. They also offer several insurance options that cater to the client’s different needs, budget, and preferences.
Centralized Insurance Agent Finder – It is easier to locate an independent agent in a certain area due to SafeCo’s independent agent finder.
Cons
No Protective Device Discount – Unlike most property insurance companies, SafeCo doesn’t offer discounts for protective devices installed around the house.
Poor Customer Service – SafeCo’s customer service definitely needs improvement as seen in the numerous complaints of clients posted on several sites. According to a J.D. Power study that was done on 26 insurance companies, SafeCo ranks 24th in terms of customer satisfaction.
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