SAFECO Home Insurance
About SAFECO Insurance Company
In 1923, insurance executive Hawthorne K. Dent had a vision to pioneer a whole new approach to insurance. Dent's vision combined the financial stability of an investor-owned stock company with the preferred-risk underwriting and lower prices of a mutual or policy-owned company. In September 2008, SAFECO became part of Liberty Mutual Group. With the addition of SAFECO, Liberty Mutual Group became the fifth largest property and casualty insurer in the U.S., with more than $32 billion in direct written premium based on 2007 results for both companies.
SAFECO Corporation was the 23rd largest American national insurance company. It had naming rights to the Seattle Mariners' baseball stadium, SAFECO Field.
SAFECO was founded in Seattle, Washington in 1923 as the General Insurance Company of America, a property and casualty insurer. This name is still used by SAFECO on some of its insurance products. Thirty years later, the company founded the Selective Auto and Fire Ensurance Company of America, or SAFECO.
The company's first headquarters was located in downtown Seattle at the corner of University Street and Fourth Avenue. In 1936, it moved to the eight-story Brooklyn Building at the corner of N.E. 45th Street and Brooklyn Avenue N.E. in the University District.
General Insurance began to sell life insurance in 1957. Eleven years later the corporate name changed from the General Insurance Company of America to SAFECO Corporation. (The company would end up changing the capitalization of its name from SAFECO to SAFECO at the turn of the century.) The company also began to offer mutual funds and commercial credit (though precursors to the SAFECO Funds had been around since the 1930s)
SAFECO Home Insurance Says
SAFECO Insurance offers a variety of homeowners insurance coverage options such as dwelling or property protection, personal liability coverage, medical coverage, additional living expense coverage, personal property insurance, and renters insurance. SAFECO also offers a variety of discounts such as the traditional multiple policy discount or the proximity discounts which deducts from your premium if you live within a certain distance to a fire station.
Contact SAFECO at:
SAFECO Insurance Company of America
1001 4th Avenue
Seattle, WA 98154
Telephone: (800) 332-3226
Sources: "Our History", SAFECO website, 2009; "Safeco", Wikipedia, June 10, 2009; "Homeowners Coverage", SAFECO website, 2009.