Safeco Insurance has 7,200 employees, they are American’s twenty third largest national insurance company, and are led by Michael Hughes, the President. Safeco Insurance was founded in 1923, in Seattle Washington by Hawthorne K. Dent. Their specialty back then was property and casualty insurance and they went by the name General Insurance Company of America. A little over thirty years later, they changed their name to Safeco when they founded the Selective Auto and Fire Ensurance Company of America, or S.A.F.E.C.O.
They started selling life insurance in 1957 and began to offer mutual funds and commercial credit. They have kept their headquarters for the past eighty plus years in Seattle, and although they have moved outside of downtown, they now occupy the tallest building outside of downtown. It’s a twenty two story building named Safeco Plaza, and they moved their in 1973. Safeco Plaza has since been renamed UW Tower, because Safeco sold it in the University of Washington in 2006.
For nearly seventy years Safeco Insurance dominated the West Coast and in 1997, they decided in was time to expand their operations. They decided to buy two different companies; they acquired American States Financial Corporation and Washington Mutual’s WM Life Insurance Company.
Safeco offers a variety of different personal and business insurance claims. Their personal insurance coverages include: Auto, motorcycle, classic car, recreational vehicles, watercraft, home owners, condo unit owners, rentals and umbrellas. Their business insurance coverages include: Small business owners, commercial packages, commercial auto, farm and ranch, and workers compensation.
Safeco is always on the cutting edge of new services and decided to branch out into the ever growing teen population. Every parent worries about their teen, especially when they get their drivers license and receive their first vehicle. That is why the came out with a service called, Teensurance. Teensurance puts a GPS unit in cars driven by teens and allows their parents to monitor where their teens are going, how fast it took them to get there, the distance they traveled each time they took the car, and their driving habits. This service also allows them to remotely lock or unlock their vehicle doors and provided roadside assistance twenty four hours a day, seven days a week. Teensurance, aimed at, “providing parents peace of mind while teens earn their freedom.”
Safeco provides you the best possible ways, in order to provide you with the best homeowner’s insurance protection possible. To get the most accurate information, it is probably best to work with a licensed agent. The agent can help you figure out the best combination of home insurance coverage, value, and price. It is also important to maintain contact with your agent because as times change, your coverage will need to change. It is possible you will need to cut or add insurance claims on your property and put yourself in position for any negative scenario. Safeco has also purchased the naming rights to the Seattle Mariners’ baseball stadium, and aptly named it Safeco Field.
