Ohio Safeco Auto & Property Rate Change

Safeco is announcing rate adjustments across its major product lines due to various adverse trends in the insurance industry, such as labor inflation, judicial issues, and weather events. These adjustments will take effect in October 2023, with significant rate increases for new business in Homeowners (+27%), Condo (+16%), Renters (+11%), and Automobile (+25%). To secure the current rates, policies for property should be issued before October 7th, and for auto, before October 28th. Renewal policies will also be impacted, effective November 16th for Homeowners, Condo, and Renters, and December 8th for Automobile.

For more details, please read the full announcement linked here: Safeco Announcement