Since its creation in 1923, Safeco has grown into a huge presence in the insurance industry with more than 9,000 agencies, brokers, and even website support to its name. Safeco gains the number 13 rank in personal lines, including, but not limited to, vehicle and home owner policies. The company caters to over four million customers. It owes its stability to its impressive track record and continuing expansion. The last 3 years have shown some 600 million dollars of annual income and close to 7 million dollars of revenue every year. Safeco has been granted an A or Excellent rating for financial stability by the A.M. Best Company.
Safeco’s corporate services include basic insurance, audit services, surety bonds, workers’ compensation, and risk control services. Personal services, on the other hand, cover renter, homeowner, condo or timeshare owner, auto, and umbrella policies. The company has a reputation of being a comprehensive insurance provider. It provides coverage for industrial, commercial, and residential needs. Almost ten percent of Safeco’s annual policies are attributed to workplace coverage.
Majority of the coverage issued by the company are auto insurance in nature. Home policies, inclusive of health and life insurances, account for just a small part of the total issued coverage. And when it comes to customer ratings, Safeco’s rating rises beyond 50%. A quarter or more of its clients opt for an average of 3 renewal periods. This only goes to show how dependable the company is.
Unlike most auto insurers, Safeco offers insurance coverage for almost every type of vehicle. Whether it is a private or commercial vehicle, a personal watercraft, a recreational vehicle, and even a motor home, Safeco offers coverage. The company even insures drivers that fall into the high-risk category. Examples of these individuals include occasional traffic violators and those with point-based infractions.