Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

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OldSport
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Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by OldSport »

Have been loyal Liberty Mutual Insurance policyholders for years, bundling home, Auto, and umbrella.

We have been disappointed that LM has increased our insurance higher than inflation over the years (double or triple the recent historical 2% inlfation), but it was never so bad that it required us to take time out of our extremely busy schedule to explore alternatives. Not this time.

Liberty Mutual wants to increase our insurance premiums by 45%!! That is 5x the rate of the already crippling inflation!! I thought they made a mistake it was so ridiculous. We are getting pummeled by inflation, not getting good raises, despite working ridiculous hours, and am truly disgusted and fed up!!

Someone I trust recommended Safeco insurance. They also had LM and switched and the increases in our area are much more manageable.

Does anyone have experience with Safeco? I know the premiums might be good, but want to make sure we're going to be covered and taken care of in the event of a claim.

Want to bundle home, Auto, and umbrella.
ehh
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by ehh »

Safeco insurance was purchased by Liberty Mutual in 2008. They continue to market insurance under the Safeco name. My only (more or less) recent experience with Safeco was five years ago after a Safeco insured rear ending my parent's vehicle. Safeco was fine.
HomeStretch
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by HomeStretch »

No experience with SafeCo.

Consider having an agent/online insurance broker requote your package at multiple insurers. Once the quotes are in, you can evaluate coverage limits, deductibles, premiums and insurer health to choose the right insurer for you.

I used selectquote.com three years ago and found the agent assigned to me to be very helpful in doing the legwork, making coverage enhancement suggestions, evaluating the trade-off between premiums/deductibles and evaluating the quotes.
terran
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by terran »

We've had Safeco renter's insurance for several years. They seem to like to increase the personal property insurance coverage automatically, so I have to call or email the agent if I want to knock a few dollars off the premium by reducing back to the least they'll let me (maybe $20k?). It looks like the premium increased 10% in the 2nd year and then has stayed about the same, so I would suggest you expect the rate you're getting quoted now to be a slight teaser rate to get you to switch. I haven't gotten a renewal for this year yet, and since renter's isn't covering the structure in most cases this data point might be of limited usefulness for a question about homeowner's insurance.
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JAZZISCOOL
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by JAZZISCOOL »

I've had Safeco for about 5 years through an independent agent (home/auto/umbrella). Rates have increased every year but not as much % as you mentioned. I thought Safeco IS owned by Liberty FYI (see Wiki below - 2008).

I haven't had to file a claim yet so have no data for you there. They had the best rates when I was shopping around at the time (and a couple times since then.) The umbrella has been increasing more than I like but not planning to shop again right now since the bundle is ok. It always is good to shop other rates once in a while. YMMV.

https://en.wikipedia.org/wiki/Liberty_Mutual
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Watty
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by Watty »

OldSport wrote: Thu May 12, 2022 9:11 am Liberty Mutual wants to increase our insurance premiums by 45%!! That is 5x the rate of the already crippling inflation!! I thought they made a mistake it was so ridiculous.
For your homeowners insurance be sure to also look at how much your home value has increased over the last few years. 45% is still high but your home value may have increase a lot more than the overall inflation rate so that may not be a fair comparison.

Also consider what has happened with the replacement cost of cars, I sold a three year old car last year for what it cost when it was new and many new cars are selling for over MSRP if you can even find one.

By all means shop around and get quotes but don't expect to pay what you were paying five years ago.

When comparing prices also be sure that the coverage is the same since a less expensive policy might be less expensive because it covers less.
cleosdad
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by cleosdad »

OldSport wrote: Thu May 12, 2022 9:11 am Have been loyal Liberty Mutual Insurance policyholders for years, bundling home, Auto, and umbrella.

We have been disappointed that LM has increased our insurance higher than inflation over the years (double or triple the recent historical 2% inlfation), but it was never so bad that it required us to take time out of our extremely busy schedule to explore alternatives. Not this time.

Liberty Mutual wants to increase our insurance premiums by 45%!! That is 5x the rate of the already crippling inflation!! I thought they made a mistake it was so ridiculous. We are getting pummeled by inflation, not getting good raises, despite working ridiculous hours, and am truly disgusted and fed up!!

Someone I trust recommended Safeco insurance. They also had LM and switched and the increases in our area are much more manageable.

Does anyone have experience with Safeco? I know the premiums might be good, but want to make sure we're going to be covered and taken care of in the event of a claim.

Want to bundle home, Auto, and umbrella.
Hi oldsport. I had Safeco through an independent agent. No claims but they changed their coverage. I have a 50 year roof but they started prorating instead of replacement coverage so I switched to State Farm in March and full replacement coverage. We have hail in Colorado!
FlamePoint
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by FlamePoint »

Safeco was purchased by Liberty Mutual in 2008 and is the independent agent arm of LM. They operate solely through independent agents and are an excellent company. I suggested you reach out to an independent agent in your area who can provide you with multiple quotes from various insurers. Safeco may or may not offer a lower rate then LM, depending on your risk profile.

I prefer working through independent agents (vs. direct writer companies such as State Farm) because they can shop around for you if/when your renewal premium is higher than anticipated.
CorradoJr
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by CorradoJr »

OldSport wrote: Thu May 12, 2022 9:11 am Have been loyal Liberty Mutual Insurance policyholders for years, bundling home, Auto, and umbrella.

We have been disappointed that LM has increased our insurance higher than inflation over the years (double or triple the recent historical 2% inlfation), but it was never so bad that it required us to take time out of our extremely busy schedule to explore alternatives. Not this time.

Liberty Mutual wants to increase our insurance premiums by 45%!! That is 5x the rate of the already crippling inflation!! I thought they made a mistake it was so ridiculous. We are getting pummeled by inflation, not getting good raises, despite working ridiculous hours, and am truly disgusted and fed up!!

Someone I trust recommended Safeco insurance. They also had LM and switched and the increases in our area are much more manageable.

Does anyone have experience with Safeco? I know the premiums might be good, but want to make sure we're going to be covered and taken care of in the event of a claim.

Want to bundle home, Auto, and umbrella.
I just went through changing Auto (formerly Geico) and Homeowners (Liberty Mutual via Geico.) I have been with both for probably 10-12 years. I am very busy, have a toddler, so did not want to spend weeks researching different rates or companies. I also dislike using the phone so wanted something I could do on my own at 3:00am in the morning if need be. used a shopping service/broker/comparison site called Gabi (run by Experian the credit score people) that I've never heard of before but seems legitimate. No auto claims in about 5-7 years, and 1 homeowner's claim about 8 years ago for a burglary.

New auto insurance is with Clearcover. Never heard of it before, but they are licensed and legitimate and operate on an "app" only basis. I don't care, seems to work fine for me. New Homeowners is with Safeco, "a member of the Liberty Mutual Group".

For the same coverages on both (I've compared policies side by side and the Gabi service actually pulls everything over the same), my auto rates are down about 40% and my homeowners is now about 65% less.

Liberty Mutual kept jacking up my home rates by about 5-10% each year. My renewal this year (May 2022) was almost 15% more than last year. Time to make some changes. Felt so good to change and will reinvest the difference into my taxable accounts.
YoungSisyphus
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by YoungSisyphus »

I am sure a sample size of one isn’t super helpful, but they went out of their way to help me make a claim on a roof that had old hail damage. Very easy to work with from my experience
mw1739
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by mw1739 »

I've had Safeco for roughly 7-8 years. My agent re-quotes every couple years, and Safeco has consistently been the cheapest overall package for Auto, Homeowners, Umbrella. Homeowners premiums have gone up every year, but auto has stayed roughly flat. They did deny my wind/hail damage claim last year when each of my neighbors had their roof replaced by insurance - I wasn't thrilled with that, but even my local roofer acknowledged the claim was marginal and actually cut me a deal to repair for cheaper than my deductible anyway.
Topic Author
OldSport
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by OldSport »

mw1739 wrote: Thu May 12, 2022 12:36 pm I've had Safeco for roughly 7-8 years. My agent re-quotes every couple years, and Safeco has consistently been the cheapest overall package for Auto, Homeowners, Umbrella. Homeowners premiums have gone up every year, but auto has stayed roughly flat. They did deny my wind/hail damage claim last year when each of my neighbors had their roof replaced by insurance - I wasn't thrilled with that, but even my local roofer acknowledged the claim was marginal and actually cut me a deal to repair for cheaper than my deductible anyway.
THIS is exactly my concern. Don't want to have an insurance company that seems cheap, but denies a claim, or makes the claim process so onerous, when the others work with you. Unfortunately this seems like a red flag.

Honestly I'm so stressed. Working 14 hour days with intense work/life demands, family, and business travel. LM wants to charge $3800/year for a 2700 sf house. It was $2600 last year. This is really upsetting me. I "hate" feeling ripped off.

Appreciate help, but don't want to get stuck with a "cheap" insurance company that denies claims. I don't know what to do - this seems hard.
Last edited by OldSport on Thu May 12, 2022 3:29 pm, edited 2 times in total.
exodusNH
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by exodusNH »

OldSport wrote: Thu May 12, 2022 3:15 pm
mw1739 wrote: Thu May 12, 2022 12:36 pm I've had Safeco for roughly 7-8 years. My agent re-quotes every couple years, and Safeco has consistently been the cheapest overall package for Auto, Homeowners, Umbrella. Homeowners premiums have gone up every year, but auto has stayed roughly flat. They did deny my wind/hail damage claim last year when each of my neighbors had their roof replaced by insurance - I wasn't thrilled with that, but even my local roofer acknowledged the claim was marginal and actually cut me a deal to repair for cheaper than my deductible anyway.
THIS is exactly my concern. Don't want to have an insurance company that seems cheap, but denies a claim, or makes the claim process so onerous, when the others work with you. Unfortunately this seems like a red flag.

Honestly I'm so stressed. Working 14 hour delays with intense work/life demands, family, and business travel. LM wants to charge $3800/year for a 2700 sf house. It was $2600 last year. This is really upsetting me.

Appreciate help, but don't want to get stuck with a "cheap" insurance company that denies claims. I don't know what to do - this seems hard.
Check with State Farm. It doesn't matter what office you call in your state. The prices are all set by corporate. My increase this year was 2 or 3 percent. With home, auto, and umbrella, you get pretty good discounts.

It's possible your house had been underinsured. Replacement costs have skyrocketed due to both property value increases and material and labor costs. Depending on where you live, they might be experiencing increased claims and need to compensate for that.
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JAZZISCOOL
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by JAZZISCOOL »

In addition to speaking to an independent agent, you may want to check with your state's insurance regulatory department. I was able to get a lot of price information on many insurance companies a couple years ago when I was shopping around again. I would imagine most states have this info for the public.
MDfan
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by MDfan »

I have no loyalty whatsoever to insurance companies. Whenever we get a rate increase, I shop it around. We have had probably ten different policies in the last 15 years. Some with the same company. Erie, Allstate, Geico, Liberty Mutual, Progressive, Hartford, etc. Whoever is cheapest gets my business. Never had an issue with the few claims that we have filed over the years.
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OldSport
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by OldSport »

MDfan wrote: Thu May 12, 2022 3:33 pm I have no loyalty whatsoever to insurance companies. Whenever we get a rate increase, I shop it around. We have had probably ten different policies in the last 15 years. Some with the same company. Erie, Allstate, Geico, Liberty Mutual, Progressive, Hartford, etc. Whoever is cheapest gets my business. Never had an issue with the few claims that we have filed over the years.
How long does the process take? I prefer to be able to bundle home and auto under an umbrella policy.
HomeStretch
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by HomeStretch »

Have you compared last year’s renewal detail with this year’s so you can see exactly where the premium increased and whether there was a corresponding increase to your coverage limits, etc.?

You may want to call LM to see what the premium impact is for increasing your deductible, reducing your coverage limit, etc.
exodusNH
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by exodusNH »

OldSport wrote: Thu May 12, 2022 3:46 pm
MDfan wrote: Thu May 12, 2022 3:33 pm I have no loyalty whatsoever to insurance companies. Whenever we get a rate increase, I shop it around. We have had probably ten different policies in the last 15 years. Some with the same company. Erie, Allstate, Geico, Liberty Mutual, Progressive, Hartford, etc. Whoever is cheapest gets my business. Never had an issue with the few claims that we have filed over the years.
How long does the process take? I prefer to be able to bundle home and auto under an umbrella policy.
Allstate and State Farm are captive agents. You have to directly contact each one for quotes. Just pick an office. You won't get a better deal from State Farm X vs State Farm Y.

Then contact an independent insurance agent and get a quote. They work with a handful of agencies and will get you the best deal, probably from insurance companies you've never heard of.

Perhaps this will be helpful, especially it lists which ones are not available through independent agents:

https://www.usnews.com/insurance/homeowners-insurance

It looks like Amica gets good ratings and it's relatively inexpensive.

https://www.usnews.com/insurance/homeow ... e/cheapest
talzara
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by talzara »

OldSport wrote: Thu May 12, 2022 9:11 am We have been disappointed that LM has increased our insurance higher than inflation over the years (double or triple the recent historical 2% inlfation), but it was never so bad that it required us to take time out of our extremely busy schedule to explore alternatives. Not this time.
You're using the wrong CPI. The Construction Price Index hasn't been below 2% since 2012: https://www.census.gov/construction/nrs ... ice_uc.pdf

4-6% rate increases are very close to construction inflation, which averaged 5.3% in 2013-2021.
OldSport wrote: Thu May 12, 2022 9:11 am Liberty Mutual wants to increase our insurance premiums by 45%!! That is 5x the rate of the already crippling inflation!! I thought they made a mistake it was so ridiculous. We are getting pummeled by inflation, not getting good raises, despite working ridiculous hours, and am truly disgusted and fed up!!
A 45% rate increase usually means that the insurance company introduced a new rate factor or a new rate manual.

Last week, there were two threads about large rate increases at CSAA (AAA Northern California). The company is using census block groups to rate wildfire risk. Two houses in the same ZIP code may pay very different wildfire premiums, depending on which census block group they're in.

Different insurance companies use different rate manuals. One of the CSAA customers found another insurer that was still rating by ZIP code, which made it possible to avoid the census block group rating.
talzara
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by talzara »

CorradoJr wrote: Thu May 12, 2022 12:07 pm New auto insurance is with Clearcover. Never heard of it before, but they are licensed and legitimate and operate on an "app" only basis. I don't care, seems to work fine for me.
Like most insurtechs, Clearcover is unprofitable.

However, financial strength is more important for homeowners insurance. Auto insurance claims are paid more quickly, there is less catastrophe risk, and cars usually cost less than houses.
core4portfolio
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by core4portfolio »

Safeco is very good. Though Liberty mutual bought it works as Silo.
Safeco price will be cheaper depends on where you live.
The pricing is very competitive.
Safeco coverage is very attractive for price I pay elsewhere.
Independent Agents will help you get the price however if you buy directly then you will get some extra discounts.
However independent agents are good so that you felt you have someone specially working for you when needed.
Safeco is very famous in Seattle, CA/WA area

Also, in Safeco if they ever increase the price (unlikely) like 40% then you give call to Agent or company customer support then they will create a ticket for their pricing team to analyze and come back with justification or reduce the price. They wont do ticket creation if its smaller percentage increase or if you have recent claims.
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JAZZISCOOL
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by JAZZISCOOL »

Here's some info from Clark Howard's website FWIW:

Consumer Reports: Top 10 Best Homeowners Insurance Companies

Consumer Reports is a trusted publication that Clark watches closely for its rankings of the top home insurance companies.

Instead of focusing on price alone, the magazine asked nearly 7,000 of its readers to rank their insurers on six metrics:

Ease of reaching an agent to handle the claim
Agent courtesy
Promptness of response and attentiveness in handling the claim
Simplicity of the claims process (number of steps, amount of work etc.)
Damage amount: Satisfaction with company’s estimate of dollar amount of damages
Timely payment: Satisfaction with timely payment by insurer

Here are the winners and losers, according to the magazine:

(#1 is best)

Amica Insurance
USAA Property & Casualty
Auto-Owners Insurance Group of Companies
Erie Insurance Group
MetLife
State Farm
Auto Club Group
Nationwide Mutual Insurance Company
Travelers
Farmers Insurance

Consumer Reports: 4 Lowest-Rated Home Insurance Companies

Nobody wants to get stuck with a company that does a poor job with customer satisfaction and with handling customer complaints!

Now that you’ve seen who the readers of Consumer Reports say are the best, here’s who they report are the worst homeowners insurance companies:

(#1 is worst)

4. Allstate
3. Hartford
2. Liberty Mutual
1. American Family
afan
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by afan »

Construction prices have skyrocketed. We have not seen the renewal for this year, but I expect it to be painful.

If you get a high price, shop around. Maybe you will find a better deal. If not, then it is just the market.
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mnnice
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by mnnice »

We had a massive renter’s insurance claim in 2013 and SAFECO was our company. We had some issues and went through two different claims people. The worst issues were things that related to loss of use and our alternative housing arrangements.
MnD
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by MnD »

We've had Safeco for many many years.
They paid 90K on a home hail claim a few years back to our total satisfaction.
Roof, siding, gutters, window trim etc. Basically a whole new house exterior which was badly needed anyways. Full replacement cost.
Many of our neighbors got little to nothing on the same storm. At best a new roof.

Also good service on auto hail claims and one minor car accident.
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Artful Dodger
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by Artful Dodger »

mw1739 wrote: Thu May 12, 2022 12:36 pm I've had Safeco for roughly 7-8 years. My agent re-quotes every couple years, and Safeco has consistently been the cheapest overall package for Auto, Homeowners, Umbrella. Homeowners premiums have gone up every year, but auto has stayed roughly flat. They did deny my wind/hail damage claim last year when each of my neighbors had their roof replaced by insurance - I wasn't thrilled with that, but even my local roofer acknowledged the claim was marginal and actually cut me a deal to repair for cheaper than my deductible anyway.
There is something to "you get what you pay for". We had hail damage and our company paid $24K for a new roof about ten years ago. The examiner who came out worked with multiple companies, said we had a very fair company and he had performed inspections for some that were much more restrictive. I guess its like medical insurance where you have managed care HMOs vs less restrictive PPOs, or where in Europe when you get a colonoscopy, it's done in the doctors office with local anesthesia vs being done in a hospital here and knocked out.
MDfan
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by MDfan »

OldSport wrote: Thu May 12, 2022 3:46 pm
MDfan wrote: Thu May 12, 2022 3:33 pm I have no loyalty whatsoever to insurance companies. Whenever we get a rate increase, I shop it around. We have had probably ten different policies in the last 15 years. Some with the same company. Erie, Allstate, Geico, Liberty Mutual, Progressive, Hartford, etc. Whoever is cheapest gets my business. Never had an issue with the few claims that we have filed over the years.
How long does the process take? I prefer to be able to bundle home and auto under an umbrella policy.
It varies depending on the company but I'd say no more than 1/2 hour. I do a lot of my research on-line. I have always bundled my home and auto. Not everyone has umbrella insurance but I've had no problem getting that separately if needed.
mrc
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by mrc »

We have had Safeco home, auto, umbrella for several years through an independent agent. No complaints. The premiums at AIG, MetLife, and Homesite increased so much over a couple years that we tried the independent agent route, and that's how we got Safeco.
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Dyloot
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by Dyloot »

OldSport wrote: Thu May 12, 2022 3:15 pm
mw1739 wrote: Thu May 12, 2022 12:36 pm I've had Safeco for roughly 7-8 years. My agent re-quotes every couple years, and Safeco has consistently been the cheapest overall package for Auto, Homeowners, Umbrella. Homeowners premiums have gone up every year, but auto has stayed roughly flat. They did deny my wind/hail damage claim last year when each of my neighbors had their roof replaced by insurance - I wasn't thrilled with that, but even my local roofer acknowledged the claim was marginal and actually cut me a deal to repair for cheaper than my deductible anyway.
THIS is exactly my concern. Don't want to have an insurance company that seems cheap, but denies a claim, or makes the claim process so onerous, when the others work with you. Unfortunately this seems like a red flag.

Honestly I'm so stressed. Working 14 hour days with intense work/life demands, family, and business travel. LM wants to charge $3800/year for a 2700 sf house. It was $2600 last year. This is really upsetting me. I "hate" feeling ripped off.

Appreciate help, but don't want to get stuck with a "cheap" insurance company that denies claims. I don't know what to do - this seems hard.
I lost my home in a California Wildfire in 2017 with Safeco insuring my home. They were solid. Both my dwelling adjuster and personal property adjuster were professional and helped me get everything I was entitled to. No complaints at all.

With that said, the house was 100% destroyed. I guess it would have been pretty hard for them to deny that claim! But, they didn't nickel and dime me. All said, they paid out nearly $700,000--nearly the maximum of the coverage.
Arlington2019
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by Arlington2019 »

I have been a Safeco insured for 40 years. This year, my homeowners premium increased from $ 1908 to $ 2944 on a $ 850,000 house on a rural acre with no history of claims. The broker said it was a reflection of increased fire risk and that Washington state has just outlawed using credit scores for insurance underwriting. Since people with higher credit scores tend to have fewer personal lines claims, it was felt to be discriminatory. Everyone writing personal lines in Washington is increasing premiums accordingly across the board. She told me I can expect the auto and umbrella insurance to increase at renewal for the same credit score reasons. Shopping the policies around to other carriers did not yield substantial savings.
Surfcaster
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by Surfcaster »

My experience with safeco for automotive was bad. Over 30% increase with no claims or financial changes after 1st year.. Went to progressive at same price as original safeco price.

Adult son had safeco ( separate household) and was involved in accident. Other party admitted full fault and was ticketed [hit from behind). He went through safeco for his car. Safeco used all non comparibles for replacement cost [ over 75 miles away, sale over 90 days old, much lesser models, one comparible had a note that said it had significant repairs, probably a rebuild No cars actively for sale close to amount offered , 20% less. This was right before covid price increases so prices were stable. Son gathered his own comparables list, all local and comparable. Safeco refused to consider it, Said best offer. Refused to transfer to superior and said if he didn't accept his rental would be taken away in a couple days. He needed a car immediately and couldn't afford a rental long term to fight it out and accepted the offer. This was a camry. Lots of comparables.

Considering that other company was responsible party for payment no idea why safeco would lowball their own customers.

I wouldn't start to consider Safeco for auto.
talzara
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Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by talzara »

Arlington2019 wrote: Sun May 15, 2022 12:18 pm I have been a Safeco insured for 40 years. This year, my homeowners premium increased from $ 1908 to $ 2944 on a $ 850,000 house on a rural acre with no history of claims. The broker said it was a reflection of increased fire risk and that Washington state has just outlawed using credit scores for insurance underwriting. Since people with higher credit scores tend to have fewer personal lines claims, it was felt to be discriminatory. Everyone writing personal lines in Washington is increasing premiums accordingly across the board. She told me I can expect the auto and umbrella insurance to increase at renewal for the same credit score reasons. Shopping the policies around to other carriers did not yield substantial savings.
Washington state has not "outlawed" the use of credit-based insurance scores. The legislature considered the bill but did not pass it.

The insurance commissioner has temporarily banned the use of credit-based insurance scores on his own authority. The ban will expire in March 2023 or when the COVID-19 emergency is over, whichever is later.

Here is the thread about the ban on credit-based insurance scoring in Washington state: viewtopic.php?t=353546

If you qualify for a membership-based insurers, you may be able to put yourself in a better risk pool. You can also self-insure by increasing your deductible. Since your rates have gone up, you will save more money.
Arlington2019
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Joined: Thu Jun 27, 2019 2:29 pm
Location: Snohomish County, Washington, USA

Re: Safeco Insurance - any good? Brutal Liberty Mutual Premium Increase

Post by Arlington2019 »

talzara wrote: Sun May 15, 2022 7:09 pm Washington state has not "outlawed" the use of credit-based insurance scores. The legislature considered the bill but did not pass it.

The insurance commissioner has temporarily banned the use of credit-based insurance scores on his own authority. The ban will expire in March 2023 or when the COVID-19 emergency is over, whichever is later.

Here is the thread about the ban on credit-based insurance scoring in Washington state: viewtopic.php?t=353546

If you qualify for a membership-based insurers, you may be able to put yourself in a better risk pool. You can also self-insure by increasing your deductible. Since your rates have gone up, you will save more money.
'Outlawed' was quoting the broker. I will pass along your precision of language to her.
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