SafeAuto Insurance – Company Review

safeauto insurance company review

Established in Ohio in 1993, SafeAuto Insurance Company is considered a newcomer when it comes to auto insurance companies.

SafeAuto has designed its auto insurance program to target vehicle owners that commonly purchase minimum-coverage policies to save as much money on their premium as possible.

 

Offering auto, motorcycle, homeowners insurance, renters, small business insurance, and a few life and health products, SafeAuto markets and sells their products directly to consumers and is currently active in 17 states.

 

We have found that when a company conspicuously advertises that they provide instant SR-22 insurance, they are targeting non-standard insurance clients who likely will only purchase the cheapest insurance in the marketplace.

In many cases, traditional insurance companies like State Farm, Allstate, or Farmers, will not offer insurance to non-standard prospective customers because of frequent lapses in coverage and tarnished driving records.

 

CLICK ON YOUR STATE TO VIEW AUTO INSURANCE RATES

 

SafeAuto’s Financial Stability

 

SafeAuto does not disclose any ratings by national rating companies and we were unable to find information about them regarding financial stability. This doesn’t necessarily mean that the company is not financially stable, however, but it does send up some red flags when most insurance carriers proudly announce their insurance ratings.

Certainly, everyone wants to purchase their car insurance for the lowest rate possible, but there should be evidence provided that the insurance company you deal with can faithfully pay claims filed by its policyholders.

 

Auto Insurance Coverage from SafeAuto Insurance Company

 

Currently, SafeAuto has restricted its insurance offerings to states that have low liability requirements which are typically found in the bottom portion of the country:

SafeAuto insurance sales territory

The personal auto policies SafeAuto offers contain the typical coverages found in traditional auto policies but they offer minimal optional coverages that many folks like to purchase.

 Here is a list of coverages provided by SafeAuto along with a brief description of each: 

 

COVERAGEDESCRIPTION
Bodily Injury LiabilityPays for injuries to other drivers or passengers in an at-fault accident subject to the limits in the policy.
Property Damage LiabilityPays for repairs or replacement of another person's vehicle or property during an at-fault accident subject to the limits of the policy.
Medical PaymentsMedical Payments covers medical expenses for you and other passengers in your vehicle in an accident no matter who's at fault. This coverage will even cover you for injuries sustained in another person's vehicle or as a pedestrian up to the limit in the policy.
Personal Injury Protection (PIP)PIP covers the driver, all passengers, or a pedestrian involved in an accident no matter who's at fault. PIP helps pay for medical expenses, lost wages, loss of services, and funeral expenses up to the policy limits. This coverage is typically mandatory in "no-fault" states.
Uninsured/Underinsured MotoristUninsured/Underinsured motorist covers your medical expenses if the other driver (at-fault) is uninsured or underinsured. Some states also allow uninsured/underinsured property damage that covers your vehicle as well.
Comprehensive CoverageComprehensive coverage pays to repair or replace your vehicle after a non-collision event such as fire, vandalism, theft, or acts of nature subject to your deductible.
Collision CoverageCollision coverage pays to repair or replace your vehicle after an accident that involves another vehicle or object subject to your deductible.
Emergency Roadside AssistanceRoadside assistance is available if you are locked out of your vehicle or required roadside assistance like a tire change or fuel for an empty tank. Your coverage for each event is subject to the limit you purchased on your policy.
Rental ReimbursementRental reimbursement helps pay for rental expenses if you are in an at-fault accident or
hit by an uninsured driver. Most policies will have a limit per-day and per-accident.

 

SafeAuto is primarily sought out by vehicle owners who have had an at-fault accident or have been charged with a serious driving violation like DUI/DWI and did not have the proper insurance at the time of the incident.what auto insurance deductible should I choose

In many states, if this event takes place, the state will suspend the registration and license of the car owner until they can provide proof that they carry the minimum liability limits required in their state. This proof of insurance is provided to the state via an SR-22 form that is transmitted to the state by the insurance company.

For licensed drivers who require this form and do not own a vehicle, SafeAuto offers non-owners car insurance which satisfies the third-party liability coverage requirement. It’s important to note that SR-22 is not insurance, rather it is the form the insurer uses to let the state know that you are now carrying the mandatory coverage so you can get your license and registration reinstated.

 

How much does SafeAuto Charge for Car Insurance?

 

Although your  auto insurance rates are based on the car you drive, your driving history, and the coverages you select, we can offer an average by age group of SafeAuto’s rates versus popular competitors that will offer insurance to non-standard applicants.

 Below are the average rates for a 21-year-old single male purchasing liability only on a 2007 Camry with 2 at-fault accidents in the previous three years: 

 

Insurance Company

21-year-old Single Male

GEICO

$1,860

Progressive

$2,325

Direct General

$2,787

The General

$3,059

SafeAuto

$3,106

 

What about Discounts?

 

Similar to other insurance companies, SafeAuto does offer various discounts that allow car insurance shoppers to reduce their monthly premiums:

  • Safety Feature Discounts – If your vehicle has certain safety features like Airbags, Anti-Lock Brakes, and Anti-Theft device, your discounts would range from 5 to 15%.
  • Multi-Car Discount – When you have more than one vehicle on your policy, SafeAuto can offer up to 15% off the initial premium.
  • Pay-in-Full Discount – 10% off the initial premium
  • Good Student Discount – Up to 15% off the initial premium
  • Homeowner Discount – 5% off the initial premium
  • Claim Free Discount – 5% off the initial premium
  • Automatic Daytime Running Lights – 10% off the initial premium

 

What about Fees?

 

Although most insurance companies do not charge fees other than for monthly premium payments and non-sufficient funds, SafeAuto appears to be in the “fee” business as well as the insurance business. Here is a current list of fees (actual amounts can vary by state):

  • NSF Payment – $20
  • Reinstatement Fee – $10
  • Cancel Request from Policyholder – $25
  • Monthly Installment Fee – $10 per installment including renewal
  • Overnight Payment Processed in the Morning – $25
  • Overnight Payment Processed the next day – $15
  • SR-22 Filing $10 to $40
  • Stop Payment – $26

 

What are SafeAuto Customers Saying?

people talking

 

According to the reviews that are posted on SafeAuto’s website, policyholders have a 50/50 chance of getting good customer service and claims service. This is another red flag when you compare SafeAuto with its competitors.

Here is how SafeAuto’s policyholders measured their service:

 

SafeAuto review graphic

This graphic was obtained from https://www.safeauto.com/about/reviews

 

The Bottom Line

 

If you are shopping for car insurance and have multiple violations on your record, or have been in more than one accident, or need an SR-22 to get your license reinstated, SafeAuto may be a good choice if you can afford their premiums and they offer insurance in your state.

Contact SafeAuto Insurance Company

Interested policy shoppers or policyholders can contact SafeAuto at https://www.safeauto.com/about/contact-us