Safeco is a famous American Insurance company that was founded in Seattle, Washington, in the year 1923.The Company was formed in the year 1923, by Hawthorne K Dent, who was a property and casualty insurer. It was thirty years later, that the company founded Selective Auto and Fire Insurance Company of America, or SAFECO. The first headquarters of the company was located in Seattle, which later moved to an 8th storey Brooklyn building. It was in the year 1957 that the company first started selling insurance, and after selling insurance for eleven years in that name, the company changed its name from SAFECO to Safeco. It was during this time only that mutual funds and commercial credits were also offered to the public.
There have been man developments in the company since its incorportation. It was in the year 1997, American States Financial Corporation was purchases, followed by Washington Mutual’s WM Life Insurance Company. Just two years later R.F. Bailey (Underwriting Agencies) Limited of London was purchased by the company. The company witnessed a major economic downturn, and there was a restructure of the company. In the next two years nearly 40% of the workforce of the company was laid down, and the commercial credit operations were also sold in the year 2001.It was on March 15 2004. The company sold its most profitable division, the life insurance and investment business. On April 2006, there was an announcement of consolidation of operations of the company. In the following year on January 19, 2006, there was a report that Safeco would be selling its Redmond campus, to Microsoft Corporation. Other plans were also announced for a new 125 feet office, across the street who would be employing nearly 1300 employees.
The history of Safeco dates back to 1923, when Hawthorne K Dent made a radical approach to business. A group was organized to make a combination of the financial stability and responsibility of a stock company, with the preferred risk underwriting. He later violated the conventional wisdom by making the base of the company in Seattle, quite far from the recognized insurance centers of the metropolitan Northeast. It was during the year of 1957 that the company entered the business of life insurance, and in the following years, board of directors recorded a massive growth and development of the company. In the 1960 s there was a further diversification of business, and financial services and mutual fund was introduced. The company took a major step in the year 1997, when it acquired American States Financial Corporation. The presence of the company was felt more in the year 1998, when naming rights to Seattle Mariners ballpark will be purchased. Today the company is still making its growth and also increasing its popularity. At the present day, it is serving the insurance needs of the drivers, home owners and owners of small and mid sized business houses.
Safeco in the Workplace
Safeco is a company employing the best and the broadest talents of the industry. There are diverse range of programs that are carried on by different class of people, who are unique n terms of national origin, race religion, values, as well as gender and marital status. The diverse range of programs is carried on by different class of people, and most of the employees’ focus groups that are recommended for the success. The company is committed to include people of different origins in its employee structure. There are many distribution partners that represent the customers of the company. We design different kinds of products so that each cater to a specific kind of customer. The business goals of the company is such that it helps to broaden the customer base of our company, while making initiatives and marketing materials, that represent the diverse needs of our society. The diversity program of Safeco is designed in such a way, so that you are provided access and information on Safeco. There are specific policies and guidelines that are developed by the company that help to build excellent customer relationships, with diverse enterprises also that include women, children and people with disability.
I have Safeco, and they have been the best. Our customer service was superb and our claims service was prompt.
Dumped After Claim
I made a claim with SafeCo after the theft of my bike in 2010. The claims process went smoothly, quickly, and every customer service agent was friendly and helpful. However, because of the single claim, they decided not to allow me to renew my policy. This is absurd. That's what they're supposed to be there for. So, if you never make a claim, they will allow you to be a customer. Otherwise, they'll dump you.
Poor Claims Process Practices
I got rear ended by an individual who was insured by Safeco. The police were in the area and saw the whole thing. My rear bumper was dented and started to show signs of buckling/splitting as a result of the impact. Safeco only wants to paint the bumper and not repair the damages.
Cost Doubled After Camera Ticket
I have never been in any accident or filed any claim while insured by Safeco, but I did get a ticket for making a "rolling-right" at a red light.. This was at one of those "photo-enforced" intersections. When I got my premium statement from Safeco, I was shocked to see it go from $377.20/year to $743.40/year!
We recently had a string of bad luck and our almost new car was involved in a hit-and-run while it was parked! It was an awful thing to happen, but Safeco made it all better. The claim process was smooth and they directed us to a repair company that was professional and responsible. We got our baby back as good as new in over a week.
I've had SafeCo insurance since 2005 and I have never once had to file a claim with the company: that is until 2007. Last year I made my first claim through SafeCo insurance and it was a horrifying nightmare. I think I placed a million phone calls to the company trying to get a claim processed and the representatives have no clue what's going on every time you call. Some of the representatives were rude, and I was told everything from the claim was processed and the check was being sent to me to the claim was being held up by some technicalities. I actually got a different kind of answer with every phone call I made and the experience was so frustrating.
Go with SafeCo
I like how the claim adjusters deal with good customers fairly; the adjusters are prompt in responding to a claim and they were at my home to appraise the vehicle within days of me making the claim. After I got a couple of estimate,s the SafeCo insurance adjuster communicated well with me and worked with me and I got the second highest estimate that I received in terms of payback. I appreciate the fact he was polite and I know that if I have to file a claim with SafeCo insurance again that they're adjusters are professional and courteous. I also like the fact that SafeCo insurance has fairly decent rates and I don't feel like I am being raked across the coals every time I pay my premiums. In my opinion, for what It's worth, SafeCo is a reasonable company to work with.
Safe with SafeCo
I have never found the company to be unfair with any of its dealings with me. I've never noticed a significant increase from one billing period to the next. I can appreciate a company that's fair and nowadays it is pretty hard to come by. The representatives are nothing short of awesome; whenever I talked to one of them they are polite and they answer all my questions and concerns no matter how many I have. Plus, they act like they really want talked me, not like It's an inconvenience that I called.
Cancelled On After 1 Year
It seemed that SafeCo was okay. I had gone with them for home owners, did not submit a claim or anything. When it came time to renew they sent a letter telling us we were non-renewable...."the replacement cost of this dwelling exceeds our maximum market appetite of... setting this policy to non-renew." When they insured us they inspected and looked at the house and property.
Canceled But Asked to Pay
I got a different renter's policy with another company and called to cancel. They gave me such a run around. I had to fax a form stating that I wanted to cancel and listing what my new company... which is none of their business. They acted like they never got it and I received a THREATENING letter in the mail that I owed $15 for a premium when I canceled 4 months before!