What to Know About Safeco Renters Insurance
If you rent your home or apartment, you should think about getting renters insurance. After all, your landlord’s insurance is in place to protect them and their rental property, not you and your personal belongings. Some landlords may even require tenants to have renters insurance when they sign the lease agreement. Renters insurance is one of the cheapest types of insurance out there. For only a few dollars a month, you can rest easy knowing you’re covered if your valuables get damaged or stolen. It can be difficult knowing where to start with so many insurance providers vying for your business. We’ll give you an in-depth review of one of those providers – Safeco Insurance. We’ll tell you all you need to know about renters insurance, getting a quote, and how they measure up to the competition. We’ll look at some of their coverage offerings and the discounts they have available. Finding the right renters insurance provider can improve not only your financial wellbeing, but also your mental wellbeing by knowing you’re secure. Read on to see if Safeco might have a renters insurance plan that works for you and your wallet.
What Safeco Renters Insurance Covers
Like most renters insurance policies, Safeco renters insurance covers your personal belonging, personal liability, and living expenses relating to a covered loss. Safeco’s property protection extends to the valuables you have with you when you’re travelling and may even cover things that are stolen from your car. Liability coverage protects you from claims that result from accidental damage to another person’s property or if a guest is injured while visiting your home. Your Safeco policy will also cover the cost of additional livings expenses if your home becomes uninhabitable due to a covered loss. This coverage will help with the cost of temporary housing for up to 24 months while your home is being repaired or rebuilt. Safeco offers identify recovery services as an add-on to your policy for only $1 a month. They also offer valuable articles coverage for items whose worth exceeds normal policy limits. Finally, they offer an upgrade to personal property coverage called personal property replacement cost protection. The standard plan will provide actual cash value for damaged items, which factors in depreciation (the actual worth of your item today). Replacement cost will pay out enough to replace your old item with a new one
The vast majority of renters and homeowners insurance policies do not include floods as one of their covered perils, meaning you will not be reimbursed for damage resulting from a flood. However, you can buy a separate flood insurance policy to go with your Safeco renters insurance. Safeco directs you to purchase insurance through the National Flood Insurance Program (NFIP), which was established by the federal government. Providers work with the NFIP to deliver flood insurance policies to the public. If you are living in one of the 23,000 communities participating in the NFIP, you are eligible to purchase flood insurance. While Safeco does not cover damage from floods, it does cover certain water damage under their standard policy. Water damage coming from burst pipes, overflowing toilets, faulty appliances that leak, or a leaky roof is covered under your Safeco renters insurance plan. Safeco also offers a list of partnered program vendors to call in to fix the damage, but you may also choose to find your own water mitigation supplier. The most important thing before making a water damage claim is to avoid electrical equipment, stop the leak to prevent further damage, document the damage, and protect your belongings.
Most renters insurance policies, including Safeco’s, do not cover damage done to your home or personal belongings by your pets. That means you’re on your own when it comes to chewed-up furniture or torn-up carpets. However, your pet is covered under your personal liability coverage as part of your Safeco renters insurance plan. You’re protected from lawsuits for causing damage to someone else’s property or from injuries sustained by guests. Likewise, damage or injury caused by your pet against a person not living in your unit is also covered. The normal limit for personal liability coverage is $100,000. You many want to raise your policy limit if you have a pet, because they will likely increase your risk of a liability. Some dog breeds may be excluded from coverage, such as pit bulls and rottweilers, because they are considered prone to aggression. Your pet may also be considered on a case-by-case basis if it has a history of incidents. Outside of renters insurance, Safeco offers insurance through the Hartville Pet Insurance program. This won’t cover your home or belongings. This is purely coverage for your pet if they experience accidents or illness, with optional add-on preventative coverage.
Safeco Renters Insurance Review and Costs at a Glance
We’ll start with a basic Safeco renters insurance review. On average, Safeco renters insurance will cost you $X.XX per year. We’ll see later on what goes into determining insurance rates and how Safeco stacks up to their competitors. Price isn’t the only thing you should be on the lookout for; you also want to get a sense of their service and offerings by looking at customer and independent reviews. The Better Business Bureau (BBB) gave Safeco an A for their renters insurance. JD Power assigned them a rating of 3 out of 5 (average) on indicators of customer satisfaction. NAIC, which provides customer complaint ratios, gave them a subpar rating. This means Safeco has been customer complaints than the average company. These ratings give you an overall picture; It takes some digging to see what specific areas of customer satisfaction (claims process, customer service, timeliness, pricing, and so on) are being rated highly or poorly. You’ll want a provider that scores high on those things that matter most to you and that best fit your requirements. In the next section, we’ll take a look at what coverage offerings are open to you in a Safeco renters insurance policy.
| Safeco Renters Insurance Stats Overview | Numbers |
|---|---|
| Average Cost in the U.S for Safeco Renters Insurance Annually | $149.44 |
| Average Cost in the U.S for Safeco Renters Insurance Monthly | $12.45 |
| Safeco Renters Insurance JD Power Rating | 3/5 |
| BBB rating for Safeco | A |
How Much is Renters Insurance Through Safeco in Your State
Now that we’ve looked at coverage, you’re probably asking, “How much is renters insurance through Safeco?” Renters insurance rates can vary considerably due to factors like your credit score, deductible amount, and the location of your home. On average, renters insurance from Safeco is $X.XX per month, though it will vary by state. The most expensive state for renters insurance from Safeco is Oklahoma, with an average cost of $X.XX per month. The least expensive state is Delaware, coming in at an average of $X.XX per month.
How to Get a Safeco Renters Insurance and Auto Insurance Discount
We’ve given you an idea of the coverage offerings and typical rates for Safeco renters insurance. Next we’ll tell you how you can go about getting Safeco renters insurance discounts. You can save on your premiums if your rented home has a fire alarm, sprinkler system, or burglar alarm installed. The safer your home is, the less risky you are to insure, so Safeco can justify lowering your rate. Another way to save is to raise your deductible. This lowers your monthly payment but can come back to bite you if a loss occurs and you have to pay more out of pocket. Paying your bill in full instead of in installments when you start or renew your policy will also earn you savings. One of the biggest ways to save is to bundle your auto and renters insurance with Safeco. Savings from Safeco’s renters insurance and auto insurance discount, also called a multiple policy discount, are significant. As an added bonus, combining multiple insurance policies into one package with Safeco means dealing with less insurance providers. Companies often offer other discounts related to customer loyalty or a claim-free history. Always ask your chosen provider about what savings are available.
How Much Does Safeco Renters Insurance Cost Versus Competitors
You have an idea of Safeco renters insurance policy rates, but how do they compare to their competitors? Safeco’s most expensive competitor is The Hartford. Getting a plan with Hartford instead of Safeco will cost you an extra $X.XX per month on average. Alternatively, Safeco’s least expensive competitor for renters insurance is AIG, with a significantly smaller monthly payment. They’ll save you an extra $X.XX per month compared to Safeco. Remember that these prices are only averages and may not represent the quotes you receive. It depends on your area and any discounts you’re eligible for, along with numerous factors.
Getting in Touch with Safeco Renters Insurance
If you experience a covered loss, you can make your Safeco renters insurance claim online from your compute or mobile phone, 24/7. Safeco claims that they’ll guide you through the process to make sure you feel confident and comfortable with your claim submission. You can track your claim with your online Safeco account. You can also call Safeco with the following information: what happened, the extent of the damage, the location of your damaged property, whether quick repairs will be needed, your contact information, which department of the authorities was contacted and their report number (if any), and a convenient time for a damage assessment with a claims representative either in person or through video chat. We also recommend making an inventory of your valuables long before you need to make a claim or even before you sign up for insurance. An accurate account of your valuables and their worth can be extremely useful when you’re looking to get a quote or make a claim. You’ll also notice one of Safeco’s questions is about the location of your damaged property. Never throw out damaged goods until you’ve spoken with an insurance agent; they can be important evidence for your claim.
If you’re satisfied with Safeco as your provider, you’ll want to know how to go about a Safeco renters insurance renewal. A renters insurance policy typically lasts for one year. At that time you’ll be up for renewal. Most companies send you a notice weeks or even months ahead that your policy’s renewal or expiry date is coming up. Some customers have complained that Safeco only notified them a few days in advance, but your mileage may vary depending on the local independent agent you are assigned. Many companies will automatically renew your policy if you continue to pay your monthly premiums. Safeco also offers options for recurring or automatic online payments. Remember that paying in full at your renewal date will net you savings. However, we always recommend taking a look at your renewal offer. You want to make sure the coverage still works for you, and check if there are any changes to your discounts or premiums. You may want to see what other companies are offering around your renewal time in case you want to make a switch instead of continuing. If you want to be sure you’re in full control of your renewal, call your local Safeco agent to discuss payments.
If you’re not renewing, or you want to stop your Safeco renters insurance mid-policy period, you’ll need to know about cancellation. You may be looking to cancel because you’re unhappy with Safeco’s customer service or offerings, or it could be because you’re no longer renting, you’re going to join your partner’s insurance plan, or you’re more enticed by another company’s policies. To cancel with Safeco, you’ll have to call your local independent agent or their customer service. Your local agent will likely know you and have access to all your important policy information, so they’re likely the more efficient option. Be ready with your policy number and details. Request cancellation of your policy and recurring payments, providing them with your desired end-of-coverage date. Make sure you receive a cancellation confirmation through email or by mail. Be aware that some companies charge a cancellation fee. You should also ask for a refund or partial refund of your premiums if you’re cancelling in the middle of your coverage. The best time to cancel is at the end of your current month of coverage before making your next payment, or near your renewal time.
Getting a Safeco Renters Insurance Quote and Deciding Whether Safeco is Right for You
You can get an online Safeco renters insurance quote by first entering your ZIP code and desired type of coverage. You’ll then be asked for basic personal information like your name and birthday, as well as your address and contact details. Next you’ll be asked about your auto insurance policy to see if you want to go for a multiple policy discount, as well as the number of claims you’ve made under previous policies. Having no claims might make you eligible for a discount, whereas having a history of claims could raise the price of your quote. They’ll also ask additional property information questions, including if you own certain dogs and if you conduct business out of your home. After that, you’ll be provided with your estimate. The whole process takes just a few minutes. After all this, is Safeco renters insurance right for you? We’ve provided the framework, but it’s up to you to decide if Safeco offers the coverage, pricing, convenience, and customer service that will fit your needs. We recommend getting quotes from multiple providers can comparing them; that way, you can rest assured knowing you’ve made the best choice.
