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SafeCo

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.

SafeCo Ratings

  • 1.9
    coverage
  • 1.9
    cost
  • 1.6
    service
  • 1.5
    claims
  • 1.7
    overall rating

Based on 143 review – 1 is lowest, 5 is highest

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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.

Safeco History
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.

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SafeCo

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No Response

 by Anonymous
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One of their insured driver caused an accident, so I called to file a claim. I have called them 6 times and no one has called back or done anything. My car is gone and I have no way to work. I did not have full coverage on my car, but my insurance company has called me 2 times to see how things were going.


Canceled

 by Anonymous
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Safeco is/was my homeowners insurance company. We have never filed a claim before with any insurance company. In December there was a major freeze in CO and our HVAC malfunctioned and turned-off. Pipes froze and then exploded upon warming up. We had just purchased the house and still aren't even living there yet. we made our claim and dealt with great customer service folks. Today we received our claim check to pay the contractors and what else did we get? Well, a notice that they are canceling our homeowners insurance due to the claim that we submitted. We are just in shock over this.


Just One Call

 by Anonymous
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I recently rear-ended someone pretty badly. I was lucky that there were no injuries to the other party, but I had some back and neck pain from the collision. I made one call to my agent who directly transferred me to the claims department. I gave them my statement and within one day I had my car at a repair shop, was in a rental car, and had paid for the chiropractic visits needed to get me back to health.


Slow Claim Processing

 by Anonymous
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My home burned to the ground in 2007 and I was denied in 2010.


Good

 by Anonymous
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They are fine. Price is good for coverages offered. They have to pay out for what is written into the policy, and they will.


hard to cancel

 by Anonymous
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They continually raised my rates when others would have lowered them. We had to fight for three weeks to get our money back when we canceled.


Poor Claims Process Practices

 by Anonymous
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I was hit by a Safeco insured driver. They don't want to pay the tow nor the storage fees. They want to make you at fault also.


DOUBLED my premium

 by Anonymous
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I truthfully and completely filled out the online application, disclosing the only blemish on my driving record, which was a speeding ticket (63 MPH in a 55 MPH zone) which I received 3 years ago. A little more than a week later, Safeco increased my premium by $305 to $599! This is more than double the price that they initially offered me! When I called them up to ask why my premium was being doubled, they told me that it was because of a moving violation which I failed to disclose on my application. When I asked them the specifics of the moving violation which I allegedly failed to disclosed to them, I found out it was the 3 year old speeding ticket which I had in fact told them about!


Poor Customer Service

 by Anonymous
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Good rates. Terrible service and claim response.


safeco like a circus

 by Anonymous
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If you try to make a claim with safeco after you had an accident, you might well do it your self because they will transfer you to 5 or 6 different adjuster until you get tire and you wand up do it your self out of your own pocket


Insurance USA , USA 7.9 127.0 143 143 I paid for a 6 month policy the 2nd or 3rd week of January, 2015. Then, on Feb. 20, I got a bill that wanted me to pay them $257 MORE! So I called them and the rep did not know wh