When searching for car or home insurance, you’ll likely come across Safeco Insurance. But what exactly is Safeco Insurance Company of Oregon? In this comprehensive guide, we’ll explore Safeco’s history, financial strength, coverage options, customer service, and more to help you determine if it’s the right insurer for your needs.
Overview of Safeco Insurance Company of Oregon
Safeco Insurance Company of Oregon is a property and casualty insurance provider based in Boston, MA. It offers a wide range of insurance products including:
- Auto insurance
- Homeowners insurance
- Renters insurance
- Condo insurance
- Landlord protection
- Umbrella insurance
- Motorcycle insurance
- Boat insurance
- Classic car insurance
- RV insurance
- ATV insurance
- Golf cart insurance
Safeco sells its insurance policies exclusively through independent agents across the United States. It’s currently a subsidiary of Liberty Mutual Holding Company Inc.
Safeco first opened its doors in Seattle, WA in 1923 originally as the General Insurance Company of America. It adopted the Safeco name in 1953 and grew to become one of the leading insurers in the Pacific Northwest. The company expanded nationally and went public in 1970. In 2008, it was acquired by Liberty Mutual.
Safeco’s Financial Strength and Ratings
Safeco maintains strong financial standing as part of Liberty Mutual Insurance group, which is ranked 77th on the Fortune 100 list and is the sixth largest property and casualty insurer in the United States based on direct written premium.
Safeco Insurance Company of Oregon holds the following ratings and assessments of its financial strength:
- A.M. Best: A (Excellent)
- Standard & Poor’s: A+ (Strong)
- Moody’s: A1 (Good)
These high ratings mean Safeco has strong claims-paying ability to fulfill obligations to policyholders even in challenging economic conditions. It has sufficient capital, conservative investments, steady profits, and adequate reserves.
Policy Options from Safeco
Safeco offers standard and customizable insurance policies to meet a wide range of needs:
- Liability coverage
- Collision and comprehensive
- Medical payments
- Uninsured motorist
- Rental reimbursement
- Roadside assistance
Add-ons: Accident forgiveness, new car replacement, rideshare coverage
- Dwelling coverage
- Personal property
- Loss of use
- Personal liability
- Medical payments
Add-ons: Replacement cost, identity theft, water backup, earthquake
Extra liability coverage beyond auto and home insurance limits. Available for $1 million to $5 million in coverage.
Boat, motorcycle, classic car, RV, ATV, golf cart, landlord, and other niche insurance offerings.
Safeco’s Claims Process
Safeco aims to make the claims process as smooth and efficient as possible:
24/7 claims reporting – Report a claim anytime online or by phone.
Direct repair program – Pre-approved auto repair shops speed repairs.
Home inventory – App simplifies documenting possessions to claim.
Settlement options – Choice of replacement, cash value, or repair.
Rental car – Coverage for rental reimbursement during repairs.
The company has an A rating from the Better Business Bureau with positive customer feedback on claims servicing and fast resolution.
Discounts from Safeco
Safeco offers a range of discounts to help reduce insurance premiums:
- Multi-policy discount
- Accident-free discount
- Good student discount
- Safety feature discounts
- Anti-theft discounts
- Advance purchase discounts
- Safe driver discount
Discounts can vary by state based on local insurance regulations. Bundling home and auto insurance provides one of the largest savings opportunities.
Technology from Safeco
Safeco utilizes smart technologies to enhance insurance services:
Mobile app – View policy, pay bill, file claims.
DriveSafe – App tracks driving for personalized rates.
RightTrack – Rewards safe driving with discounts.
Smart Home Discounts – Savings for smart home devices.
Digital Assistant – Chatbot for instant answers to FAQs.
Is Safeco Right for You?
Safeco is a good option for many consumers thanks to quality coverage, lots of discounts, and strong financial backing. Some key advantages of choosing Safeco include:
Trusted brand – In business for over 90 years.
Highly rated – Excellent financial strength ratings.
Bundling – Big savings when combining home and auto insurance.
Superior claims service – Fast and fair claims resolution.
Independent agents – Local agent provides personalized service.
Advanced tech – Innovative tools improve customer experience.
Discount opportunities – Numerous ways to lower premiums.
Strong customer service – High marks for customer satisfaction.
Financial stability – Part of Liberty Mutual’s resources and expertise.
Before purchasing a policy, it’s recommended to get quotes from Safeco as well as a few competitors so you can compare coverage and pricing. An independent insurance agent who works with Safeco can provide these customized quotes for your situation.
How to Get a Quote From Safeco
It’s quick and easy to get a free, no-obligation quote from Safeco Insurance Company of Oregon:
Online – Visit Safeco.com and enter your zip code to start a quote.
Independent agent – Search for a local Safeco agent to receive quotes.
By phone – Call Safeco at 800-332-3226 and speak with an agent.
To generate precise quotes, have details ready about factors like:
- Your driving history
- Home details like age, size, construction
- Current coverage amounts
- Desired policy limits and deductibles
- Eligible discounts
- Years of continuous insurance coverage
An independent agent can walk through these details and provide optimized Safeco quotes for your specific situation. Be sure to compare Safeco’s pricing with other top insurers as well to find your best rates.
Frequently Asked Questions
Does Safeco sell through agents or directly?
Safeco sells exclusively through independent insurance agents. No policies are sold directly to consumers through local Safeco offices or online.
Is Safeco the same as Liberty Mutual?
Safeco is a subsidiary of Liberty Mutual but operates as its own separate insurance brand. Policies are underwritten by Safeco.
How long has Safeco been in business?
Safeco has been in business for over 95 years since its start in 1923 originally as General Insurance Company of America.
What is Safeco’s reputation?
Safeco is known for good customer service, efficient claims handling, competitive rates, and financial stability as part of Liberty Mutual.
Does Safeco offer accident forgiveness?
Yes, Safeco offers accident forgiveness so your rates don’t increase after your first at-fault accident. Restrictions can apply based on state insurance regulations.
The Bottom Line on Safeco
With close to a century of insurance experience and strong financial ratings, Safeco Insurance Company of Oregon provides quality coverage, first-class customer service, innovative technology, and competitive pricing for a wide range of insurance needs. Their purchase by Liberty Mutual enhanced Safeco’s offerings and financial standing. If you’re looking for the right mix of national resources and local agent expertise for your home, auto or specialty insurance, Safeco is definitely an insurer worth considering.
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