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 was involved in a accident with a SafeCo insured driver who was ticketed. The police report clearly states their insured was at fault and they denied my claim. I was traveling east down a main road and their insured was exiting a business and hit me directly in the side of my vehicle. She was ticketed for failure to yield and they denied my claim.
Drunk Driver Runaround
I had the misfortune of dealing with SafeCo over someone who allegedly was. Their alleged \"insured\" was a drunk driver who destroyed a good portion of my driveway by passing out on a curve, running into a ditch, and then slamming into the elevated driveway at about 65mph, reducing its size to about 3/4 what it was, flipping their car, and catching it on fire. The size reduction makes it pretty hard to get on since the road we live on is a very busy 2-lane road with a 55mph speed limit. I called and called Safeco for weeks and ultimately NEVER got a straight answer from these people about if the driver was even actually insured with them or not since THEY REFUSED TO TALK TO ME. About 3 or 4 months later, they finally informed me that they couldn\'t tell me anything because that person was no longer with them. All we wanted was to have our driveway repaired!
Slow Claim Processing
I made my first claim ever and had a 2.5 week delay in hearing back about our claim. I made a total of 9 calls to my agent and my agent\'s manager. My emails were not returned either. The claim should have taken 1 week from start to finish!
I was hit by a Safco customer. From the very beginning, from our first phone call, I received the run-around. They kept moving me from person to person... When my claim was finally closed, they sent me an offer that didn't even cover any of my medical bills let alone the time that I needed to take off from work.
Treated Me Really Well
SafeCo treated me really well! I was in an accident a few weeks ago and they really handled my claim quickly and easily.
Low-Ball Total Estimate
After I contacted SafeCo, it took my adjuster almost 2 weeks to call me back. When he did call back, he told me what the value was for my Explorer. I tried to talk with him about it and he was combative, derogatory, and completely unhelpful in trying to understand that I thought the valuation was very low. His supervisor asked me to provide some proof that substantiated my claim that the value was low. After I did, she asked the estimator to redo the evaluation. I never received any actual paper work on the new value, only a phone call from the estimator telling me that he was wrong in his first evaluation and had increased the value. After this call, I'm back to waiting to hear from my adjuster about how much they are willing to cover.
High Rates And Poor Service
Their rates suck. I was with them for a year and my second year my rates when up over $70. I had no accidents or claims to make. When I decided to get off their insurance, they still renewed my insurance and took out the money from my account. I called them and they said they would redeposit it back into my account in 3-5 days. This was on December 31st. I just received it today January 14th. Not only did they take 14 days to deposit it, but they also deposited the wrong amount.
I am a new customer. So far, they have messed up the VIN number on my vehicle multiple times, causing DMV to threaten my driver's license. Once we got the right VIN, I found out that I still was not insured because they never named me as an insured driver, only my husband. According tot he customer service rep that I spoke to, it happens all the time. WOW that is so reassuring.
Low-Ball Estimate And Strong Arming
After paying premiums for years without a claim, I wrecked my car and the strong arming began. They offered a low-ball settlement of around trade in value for the car and when I told them the book value was around $1,300 higher, they responded they didn't use the book value, but actual cash value. I looked up local comps and they were higher as well. They found every excuse not to use them and used comps out of Houston where, because of the amount of cars there, they were lower. I told them that I live in BR, not Houston and was told take it or leave it. The offer was $6,700 and book and local comps were $8,000. I offered to settle at $7,200 and they refused. They told me I could take it to the next level, where they hire an adjuster and I hire an adjuster, but it would cost you $300 dollars and take 3 weeks to get paid, another strong arm move. I said I would proceed. They gave me their hired appraisers offer, which is $4,850! What a joke! A blind mouse can see they are giving a non-good faith move here in order for arbitration. They used ZERO BR comps in this assessment!
Competitive Rates For Renters Insurance
I'm moving into a building that requires Renters Insurance -- something that I'd never had before. I was looking for personal property coverage of minimum $25,000 and personal liability of minimum $100,000. I ended up getting $50,000 and $300,000 respectively. The deductible is $500. And I pay an annual fee of $382, or $31.83 per month. For what I received, it was an extremely competitive quote compared to AllState, Geico and Statefarm. Obviously haven't had to use them yet -- and hopefully never will -- but I'm perfectly happy with the plan.