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SafeCo  Insurance –  Underwriting Guidelines and Knowledge Test

SafeCo Insurance

To your right is the Progressive Insurance knowledge test.  There are 15 question on the SafeCo Auto, 5 Questions on the SafeCo Classic Vehicle and 5 Questions on the SafeCo Renters.  . You must get a 90% or better to pass.  Your Training Manager will receive your results and review those results with you.  Best of luck.

 

Below you’ll find all of the SafeCo and Express Underwriting Guidelines.  Please study them.

13

SafeCo Auto

1 / 15

Whit SafeCo, what supporting documents are NOT accepted during the insurance application process?

2 / 15

With Safeco, what fee is applied if a cancellation is sent for non-payment, and the insured will be billed for additional days of coverage provided?

3 / 15

With SafeCo, what fee is applied at the 5th day after the due date for payments?

4 / 15

With Safeco, what is the Down Payment percentage for a Two-Pay Annual policy?

5 / 15

With SafeCo, what is the policy regarding backdating a policy?

6 / 15

With SafeCo Is reinstatement allowed after policy cancellation?

7 / 15

With SafeCo, what fee is applied if the EFT payment declines for a renewal?

8 / 15

With afeCo, how are renewals processed if the policy is set up with EFT?

9 / 15

What must be paid if a Minimum Endorsement Payment Requirement is requested by SafeCo?

10 / 15

With SafeCo, who must be added as drivers on the policy?

11 / 15

With SafeCo, what must be done if a vehicle includes Full coverage during the application process?

12 / 15

With SafeCo, how should clients submit their Driver's License and Proof of Vehicle Ownership documents?

13 / 15

Whit SafeCo, when is Proof of Prior (POP) required for an insurance application?

14 / 15

With SafeCo, which of the following is NOT an accepted supporting document for Proof Of Vehicle Ownership?

15 / 15

With SafeCo, what identification document is required for the insurance application process?

Your score is

10

SafeCo Classic Vehicle

1 / 5

With a SafeCo Classic Vehicle policy, what additional step should be taken to comply with the company's requirements, even for liability-only policies?

2 / 5

With a SafeCo Classic Vehicle policy, which state's driver's license is NOT accepted for insurance applications?

3 / 5

When selling a SafeCo Classic Vehicle Insurance policy when should the insurance agent make notes, according to the application process?

4 / 5

With a Safeo Classic Vehicle Insurance, what documents need to be attached to the insurance application?

5 / 5

Which type of driver's license is accepted for a SafeCo Classic Vehicle insurance application?

Your score is

12

SafeCo Renters

1 / 5

Where should the insurance agent upload the Driver's license and lease contract?

2 / 5

Which of the following documents is NOT required for the SafeCo Renters insurance application process?

3 / 5

What specific coverage amount should the SafeCo Renters policy include for Personal Liability?

4 / 5

How long is a SafeCo Renters policy duration for the insurance coverage?

5 / 5

With SafeCo Renters, what documents are required for the insurance application process?

Your score is

SafeCo – Auto Insurance Underwriting and Quoting Guidelines

 

Types of Polices and Coverages Sold:  Liability     Comp/Collision     SR-22      Non Owners       Med Pay     Uninsured/Underinsured     Car Rental Reimbursement Due to Accident  Other: Loss Of Use, New Vehicle Replacement, Roadside, and Auto loan/Lease Coverage.   

Supporting Documents Required: 

  • Identifications: Driver’s license
  • Proof Of Vehicle Ownership: Valid Registration, Title with Owner Name, Buyers Bill or Placard

If Applicable: Proof of Homeowner, and Proof of Prior (POP) of 6 months or more of active insurance.

Supporting Documents NOT Accepted: US/International IDs, pop less then 6 months, Moving Permits, Expired Registration, Car Notes, Smog Checks

 

New Policy Start Up Guidelines:

Clients must have their Driver’s License ready and Proof of Vehicle Ownership. If vehicle includes Full coverage, vehicles pictures MUST be taken. All these supported document must be uploaded to the company’s website. All vehicle drivers and Co-Signers must be added as drivers on the policy. Any household member must be added as excluded drivers to avoid any change in premium or cancellation. Policy purchase can be by cash, money order, or debit/credit. If policy is purchase in office, a $25 cash only in office fee will be applied. Application signatures will be sign with Xodo Sign through via E-mail or in office.

Endorsement Guidelines:

All endorsements must be established by the main insured(s) of the policy. It can be done over the phone, via E-mail, or in office. Signatures must be obtain under Xodo Sign. If in office, a $25 cash only in office fee will be applied when adding drivers, vehicles, or Sr22s. Supporting Documents are required. If a Minimum Endorsement Payment Requirement is requested by SafeCo, it must be paid by money order or debit/credit. Cash not accepted

Renewals will be applied as a regular monthly payment with a debit/credit or money order. Cash not accepted. If policy is set up with EFT (Automatic Credit/Debit or, bank account), policy will renew.

$20 NSF fee will be applied if the EFT payment declines. Policy will also be in risk of a possible lapse.


Renewal Guidelines:

Renewals will be applied as a regular monthly payment with a debit/credit or money order. Cash not accepted. If policy is set up with EFT (Automatic Credit/Debit or, bank account), policy will renew. A $25 NSF fee will be applied if the EFT payment declines.

 

Payment Guidelines:

Payment must be processed by a debit/credit or money order. Cash not accepted. If policy is set up with EFT (Automatic Credit/Debit or, bank account), payment will be drafted automatically. No $25 NSF fee will be applied if the EFT payment declines

Reinstatement Guidelines:

No reinstatements allowed. Policy may continue with a Lapse only within 60 days of the cancellation.

Reinstatement Without a Lapse Guidelines:

No reinstatements allowed. Policy may continue with a Lapse only within 60 days of the cancellation.

Backdate Policy Guidelines:

No backdates allowed.

 

Fee Schedule:

New Policy Down Payment %:                                                                              

Paid in Full:   100%                                                                              

 Two-Pay Annual: 50%

Four-Pay Annual:  25% or 50%

Monthly Annual/Semi:  10%, 20% or 25%

Monthly Installment Fee: Ranging from $2.00 to $6.00                RCC: $5.00

Any Other Fee: None

NSF Fee: $25.00
 
Payment Fee: $15.00 applied at the 5th day after the due date. 

Late Payment Fee: $15.00 applied at the 5th day after the due date. 

Reinstatement: With No Lapse Not Offered
       
EFT: $2.00. Available for Bank Account withdrawal and Credit Card withdrawal ($25.00 NSF Fee)    

No Cancellation Fee: Pro-rated: if cancellation is sent for non-payment, insured will be
         billed for additional days of coverage provided.  Usual but not limited to 20 to 25 days
                                                              
Agent Support Number: (877) 566-6001                Agent Support Email: documents@safeco.com                                 Gold support (866) 272-3326

 

 

Express Underwriting Review and Approval Procedure

 

Below is how Express Underwriting will inspect your SafeCo Insurance Policies to make sure it was completed correctly and approve it for commission payment.

SAFECO CLASSIC VEHICLE

Accepts: Nevada Driver’s license only.

Application: Upload the application, and attach it with the driver’s license, Proof of ownership, and vehicle pictures, upload the driver’s license, policy documents, and vehicle photos to the Agency Matrix, update the Department of Motor Vehicle, and make notes. The company wants photos even if it’s a liability only policy. 

 

SAFECO RENTERS

Accepts: Driver’s license and lease contract.

Application: Upload the application to the company, upload the Driver’s license and lease contract to Agency Matrix, and make notes. Make sure the policy covers Personal Liability of $100,000 (Nevada Minimum requirement) (12 months policy)