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Where does Safeco do business?
Safeco is an insurance carrier with headquarters in Seattle, WA. The company was established in 1923 and offers boat insurance in 50 states (and Washington, DC).
What types of boat insurance coverage does Safeco offer?
Although we often talk about boat insurance in the singular, it really includes several types of coverage. Safeco offers the following types of coverage:
- Bodily Injury Coverage: This insurance pays for your legal defense and for the costs associated with injuries to other people involved in an accident.
- Property Damage Coverage: Usually, this insurance will look after the property damage you cause to another boat or property when at fault in an accident.
- Collision Coverage: Collision coverage is an optional policy that pays for the cost of repairing or replacing your boat after an accident. If you have a lease, the lender may require you to buy collision insurance.
- Comprehensive Coverage: If your boat is damaged in an event other than a collision, comprehensive coverage will pay for the cost of the repair. Covered events include storms, floods, fire, vandalism, and theft.
- Fuel Spill Clean-Up: Protects you from cleanup claims or third-party damage caused by the accidental discharge of oil or fuel.
- Water Sports Coverage: A must for boat owners who plant to use their vessel for water skiing, wakeboarding, and other water sports
- Salvage/Wreckage Removal: Some standard insurance policies will subtract salvage costs from the insured value of the boat or only offer a small percentage of the coverage amount for salvage. This endorsement protects from the specific costs and liability that go with a wreckage or salvage.
Safeco also provides access to the following endorsements:
- Total Loss Replacement: If it's a total loss, this policy will pay you based on the agreed value, actual cash value or the replacement cost value.
- Medical Payments Coverage: Medical payments insurance covers for the medical costs caused by an accident regardless of who is at fault. Most policies will also cover funeral expenses.
- Personal Injury Protection: Personal injury protection, also known as PIP, typically covers medical expenses, loss of essential services, funeral services, and loss of income. It is similar to medical payments coverage, or MedPay for short. The difference is that MedPay will only cover for reasonable medical expenses.
- Transport Trailer Coverage: This covers non-motorized trailers used to tow your boat. If the trailer is damaged or causes damage, this policy will cover the costs and tow your boat.
What benefits does Safeco offer?
Safeco offers the following benefits to its customers:
- Local Agents: Perfect for people who prefer the personal touch of a local insurance agent.
- Digital Claims Reporting: Never fax or mail a document again.
What discounts can you ask for when applying for a policy with Safeco?
When you ask for a quote with Safeco, make sure you ask for all the discounts you qualify for. These are the discounts you can claim that are specific to boat insurance.
- Diesel Engines: If your boat has diesel engines, you can request a deduction, particularly from your physical damage coverage.
Want more discounts? Check the discounts tab for a full list of general policy discounts you can qualify for with Safeco.
What is the financial strength rating of Safeco?
The financial strength rating of an insurance company scores its ability to pay contracts and policies. Each agency has its own standards and rating scale and a company's rating can change any day. It's a good idea to check the financial rating of an insurance company before you purchase a policy. There are five main rating agencies. SuperMoney's financial strength rating is based, among other factors, on the average score of available ratings.
Safeco scores an A or excellent, which is SuperMoney's second highest available score.
1001 4th Avenue
Seattle, WA 98154 USA
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Other Services by Safeco
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- Alternative Fuel / Hybrid
- Defensive Driver / Safety Course
- Multiple Policy
- Fuel Spill Clean-Up
- Water Sports Coverage
- Wreckage Removal
- Bodily Injury Coverage
- Property Damage Coverage
- Uninsured Motorist
- Underinsured Motorist
- Medical Payments Coverage
- Personal Injury Protection
- Fishing Equipment & Carry-On Items
- Total Loss Replacement
- Emergency Roadside Service
- Transport Trailer Coverage
- Locally Available Agents
- Digital Claims Reporting