Safeco Landlord Insurance Reviews 2023

Call the Safeco insurance phone number at (877) 857-9519 to start your landlord quote.

Licensed Safeco insurance agents are available 7 days a week during these hours (Eastern time):

The average cost of Safeco's landlord insurance policies ranges from $39 to over $77 per month, and is mainly based on your zip code, liability limits, number of units and claims history.

Safeco offers a few ways to save your landlord insurance:

Safeco offers landlord protection insurance policies that will cover up to 16 total rental units. They insure single family homes, condo units, duplexes, triplexes, and fourplexes.

Safeco's landlord coverage includes protection from damage as well as from certain liabilities unique to non-owner occupied dwellings like - wrongful eviction and wrongful entry lawsuits.

Open Perils or Named Perils Coverage

In insurance language, peril is the word used to describe a cause of loss. For example, if your rental property burns down, the cause of loss (or peril) is fire. You may also have smoke damage from the fire as well as water damage from the effort to extinguish the fire, so the perils in this case would be both smoke and water.

Named peril coverage: Provides coverage only if one of the named perils you are protected against is the direct cause of your loss. Common examples of named perils include fire, vandalism, smoke, and hail. Named peril coverage is less expensive but offers less protection than open perils.

Open perils coverage: Protects against any cause of loss that isn't specifically excluded on your policy. You're also protected against all the named perils including theft of your personal property that may be at your rental property.

Extended Dwelling Coverage

At the time you purchase a landlord protection policy, we will establish the amount it would take to rebuild your rental property if it's damaged beyond repair.

Reconstruction cost, which is different from market value, includes expenses like debris removal, fees and permits, contractor costs, architect's fees, and other necessary expenses. Since the cost of construction material fluctuates regularly, extended dwelling coverage also gives you up to 25% more protection than the limit stated in your policy.

So in the event of a major or total loss to your rental property investment, extended dwelling coverage will help pay for repair or rebuilding costs that exceed the amount covered by your policy.

Premises Liability Coverage

Premises liability coverage protects you and your spouse or domestic partner against bodily injury and property damage claims for which you are held legally liable.

It also provides personal injury protection coverage (see below) and pays medical costs including hospital bills and medical care expenses for guests if they are injured on your rental property.

Protection from Personal Injury Lawsuits

Personal injury coverage protects you and your spouse or domestic partner from tenant claims of libel, slander, wrongful eviction, wrongful entry, and invasion of privacy. Such claims are not uncommon among landlords, so it's best to be prepared.

For example, if you must evict one of your tenants for a reasonable cause, and they sue you for the eviction, you must respond to the lawsuit even if it's frivolous. This coverage option helps you defend yourself and your investment in case this happens to you.

Limited Liability Company (LLC) Coverage Options

Establishing an LLC for ownership of your rental properties creates a barrier of protection between your rentals and your personal assets. In most states, you can extend protection to your LLC as part of your Safeco landlord policy.

In general, Safeco insures up to 16 total rental units. Safeco landlord insurance can cover:

• Single family homes
• condo units
• Duplexes
• Triplexes
• Fourplexes

The Safeco Landlord Protection program does not insure:

• Mobile or manufactured homes
• Homes listed in a historic registry
• Homes with open foundation construction
• Homes with farming exposures
• Older homes with outdated electrical wiring

Safeco Landlord Protection insurance applies to non-commercial residential properties only. We do not cover mixed-use buildings or those used for retail or other commercial businesses.

Safeco's landlord insurance policy is for dwellings occupied only by tenants. If you're living at the residence, you would need to insure your home with a Safeco homeowners policy.

Yes. In most states, you can extend protection to your LLC as part of your Safeco landlord policy.

According to Consumers Advocate, Safeco insurance is:

"definitely one option you should consider. It gets good points for value, coverage, and affordability. They provide protection for multiple types of structures and maintain a 24-hour claim assistance which is invaluable in case of emergencies."

Benzinga has placed Safeco as #3 on its Top 5 List of Best Landlord Insurance Companies:

"Another policy provider offering bundle discounts, Safeco's insurance policies are on-par with its competitors. The company allows you to adjust your deductible, which can be a powerful tool if you want to maintain insurance but want to lower your monthly premium. Simply choose a higher deductible and pay less each month."

Yes. Safeco has the money and reserves to pay it's landlord claims. Safeco Insurance is owned by the Liberty Mutual Group, which is very financial stable.

Liberty Mutual Insurance has financial strength ratings of "A" or "Strong" from Standard & Poor's, an "A2" or "Good" from Moody's, and an "A" or "Excellent" rating with A.M. Best. Liberty Mutual is ranked in the top 100 largest U.S. Corporations according to Fortune.

There aren't a lot of sites online which cover Safeco landlord insurance reviews specifically. You have to sort of get an idea of the service from other types of policy holders. Yet there are plenty of positive reviews to read online:

Better Business Bureau

The Better Business Bureau says Safeco offers: Car Insurance, Motorcycle Insurance, Personal Liability Protection, Homeowners Insurance, Renters Insurance, Condominium Insurance, Flood Insurance, Identity Fraud Expense Coverage & Life Insurance.

Overall the BBB rates Safeco A+. It does reference that Liberty Mutual is the parent company.

Google.com

"Love them, they are awesome. Best company I have ever come across when dealing with a claim on my home. I would refer any family, friends, coworkers, and anybody that asked me! Love the claims process, especially since they are a Liberty Mutual company now."

Clearsurance.com

"A nice experience. Very helpful from greeting me immediately as I walked through the door to the moment I stepped out. They were so knowledgeable and friendly the entire time I was there. She made me feel like family. I was just stopping in for a quote."

"I have been truly happy with Safeco. We priced out different insurance policies through an insurance broker, and went with Safeco due to the coverage. The price was competitive as well. We have not had any issues with our homeowner's insurance, but the price is fair. We also have automobile insurance as well. Recently, I found a huge crack had formed on my windshield that spread from a chip that I missed (it started in the back area at the edge of the window, so it was hard to see initially). I called Safeco who directed me to a glass installer and the windshield was replaced at no additional cost to me. I was very pleased. The only negative was I had to take my car to a shop where they had the equipment to recalibrate my front sensor that is mounted in the windshield and the nearest location was 30 miles away which wasn't terribly convenient. If it hadn't been for the complexity of the install, they would have sent someone to my home or work to do the job. I am confident that if I had a more major repair or issue, I would be taken care of."

Overall Clearsurance.com rates Safeco 3.96 out of 5 stars.

The overall verdict? Safeco takes care of its clients.