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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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Did Not Reimburse For Rental

Sep 16, 2013 by Anonymous
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I have been a loyal customer for nearly 20 years with very few claims. When I did have a recent claim, the claims adjuster was very rude. She did not return my calls and I had to get someone else to do most of her work. The worst is when I had to obtain a rental (prior to being contacted by the adjuster) and they would not pay for that rental. This was suppose to be covered by the loss of use agreement. It's because of this issue, that I finally changed to a different insurance provider...


Totaled My Car and Totally Under-Valued It

Sep 13, 2013 by Anonymous
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I had a deer jump out in front of my car which crushed the hood and grille and pushed it in about 12 inches. Safeco was my insurance company. The Safeco representative said it was totaled and was emphatic that it COULDN\'T be repaired. Yes, yes it could have been repaired because I\'ve had a very similar accident repaired and I spent 3 years in auto mechanics. The reason he said that is because the repairs would have been above $5000 and instead of shelling out money to fix my car (you know, the reason I pay money monthly to my auto insurance) they wanted to screw me so they said it couldn\'t be fixed. The Kelley Blue Book and Edmunds values for my vehicle were around $5,000. Safeco said they don’t use those figures (of course not, why would they use recognized values), they said they pay street value. I found 6 vehicles like mine on Autotrader, IN MY AREA (they were all whiney about that too), and none were selling for less than $6000. Safeco kept insisting that this wasn’t street value and kept offering me $2000 for my car. So they will ignore any evidence you have as to the value of your vehicle and insist that it is worth far less, because hey, we excel at screwing our customers. I said I was going to talk to an attorney, which I did. None wanted anything to do with the case because it wasn’t an auto accident where I was injured. If any attorneys are reading this, could you please specialize in suing auto insurance companies in this niche. Anyway, I got screwed by Safeco and after receiving the money immediately switched insurance companies. The whole experience made me furious. I would be willing to pay lots more for auto insurance at another company than to go with Safeco because when you need them, they’re just going to screw you. How exactly do you replace your $6,000 car with $2,000 ?!?!?


Horrible Service All Around

Sep 11, 2013 by Anonymous

I wouldn't recommend this company to anyone. I've been with them for several years. I was in a not at fault accident & was treated like it was my fault, they denied fixing parts on my car that were damaged in the accident, then told the body shop not to touch it till the contacted them with the approval or denial. I received a call from the rental car company saying I needed to turn in my vehicle because Safeco would no longer pay for it but they had yet to contact the body shop to tell them to begin repairs & refused to accept blame for this dropped ball. I also had eft set up they my mom's bank account but they continued to take $ out when they weren't suppose to. I finally set up a savings account for them to deduct my payment out of but they had the wrong account & didn't notify me or my broker for almost 3 months, after lots of fighting with them and confirming the account & deduction date, they tried deducting $ 3 days early & when they couldn't they canceled my policy & once again didn't notify me or my broker. I didn't find out till I went to remove a vehicle from my policy, at which time I had to make a payment 3 times my normal payment & they wouldn't back date it so my policy shows a 2 day lapse in coverage. Then I recently went to add another vehicle on just to find out the day they were suppose to reinstate my policy & remove the other vehicle they canceled my policy & sent a refund to a credit card that wasn't mine. In order to get them to reinstate my policy I once again had to make another payment after hours & 2 days of arguing with them. They are extremely rude & even when they do admit to making a mistake they never want to compensate you. I'm tired of constantly forking out money & dealing with a company that has rude customer service, isn't willing to take care of their customers, & having issues EVERY month.


Denying Claim Because Their Customer Has Gone MIA

Aug 27, 2013 by Anonymous

WOW!!! I wish I had seen this website before trying to deal with Safeco Los Angeles, CA claims. A Safeco customer hit MY CAR, while I was PARKED. There is store security video proof it was their insured's fault and Safeco is denying the claim because their insured will NOT contact THEM to verify the accident. What a hoot!! A dishonest driver who has a dishonest insurance company. How convenient! I guess we can all avoid accident claims if we just don't speak to our insurance adjusters. I guess that is why insurance rates are through the roof. If this doesn't prove what a dishonest company they are, nothing will. I will go through my insurance and let them deal with these dishonest people. I have had my fill of trying to be an honest claimant.


Homeowner\'s Insurance Nightmare

Aug 21, 2013 by Anonymous
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We made a claim to have our wood floors dried and repaired after a pipe burst under our house. SafeCo paid less than one-fourth of the cost to cover the drying. We now have a bill for $12,000 for the drying service. They refused to pay the floor company to take out our floorboards before sanding down and refinishing our floors, so now the floorboards need to bereplaced. If they would have agreed to pay the proper amount for the services, half of this headache wouldn't have existed. The agent rarely answers his phone when we call with complaints and always has an excuse as to why the mistakes are someone else's fault. If he would just do his job to begin with, things wouldn't have to get so complicated. We will be changing insurance companies when this is all over. I would never EVER recommend that someone uses SafeCo for their insurance. I don't care if the cost seems low, they run a shady ship. I will take this case to court if I have to.


Bad Claim Specialist

Aug 07, 2013 by Anonymous
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Firstly, the worst experience ever dealing with any auto/home insurance in the industry. DO NOT, let me repeat, DO NOT get into the trap of dealing with Safeco if you can.
I had a great start with our wonderful insurance agent. But once things moved over to Safeco Customer Service or Claim Specialist, things turned from bad to worse, then worst.
Had few bad experiences and not just one. If I have a choice to choose -1.2 on this review, I would, but just don't get yourself into trouble.
There are many great insurance companies out there, but do avoid Safeco if you do have a choice. You might save a few dollars in the first year, but then, things will turn direction for myself. My roofer who replaced my roof has repeatedly asked and reminded me to do away with Safeco. He have had a few customers recently having the same claim specialists issue we had. So, if you have Safeco Insurance now, think twice again for renewals.


Not Responsible

Apr 05, 2013 by Anonymous

A safeco insured driver hit my car and they evaluated my car a lot less than it should. They don't use book value and the staff are really very very rude.


Not Paying After All

Mar 28, 2013 by Anonymous
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A Safeco insured driver hit me. Safeco called and said that they will be paying the repairs. I took the car in for repairs. Then Safeco calls me and says they will not be paying any part of the damages.


Former Employee POV

Mar 14, 2013 by Anonymous
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I'm a past employee of Safeco who is hoping to make current and potential customers aware of the unethical way in which Safeco handles property damage claims. The company has made changes to its list of suggested best practices for handling roof replacement claims that result from storm damage. It states that all roofs are always repairable and adjusters are not authorized to approve estimates for full roof replacements! From management's perspective, it's more cost effective in the long run to weed out the customers that complain and keep the ones that don't.


Slow Response Time

Feb 28, 2013 by Anonymous
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They have all the paperwork and insurance appraisers quote along with the body shops quote. I am still waiting for a response 2 1/2 weeks after my accident where a SAFECO driver hit me and was 100% at fault. The claim still isn\'t approved and I am without a vehicle to drive.


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