Does Safeco Insurance charge late fees or offer a grace period for monthly payments?
Due to my own oversight, I forgot to budget for my monthly auto insurance policy. Does Safeco offer a grace period or do they charge a late fee?
Prior to COVID-19, Safeco charged late fees for overdue payments. However, since March 2020, the company has waived those fees indefinitely. The company hasn’t mentioned whether it will reinstate these late fees at a later time.
As far as a grace period goes, few insurers offer it. However, they’ll often work with you if you’re a customer in good standing and you haven’t missed payments in the past.
If you have missed payments before, Safeco may threaten to cancel your car insurance unless you pay for six months upfront moving forward. Call them to see if they can work with you on some sort of late payment plan.
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