If you’re looking for quality auto insurance coverage with low rates, both Safeco and State Farm could be good choices. Both companies have their perks, and while most drivers know State Farm, Safeco, a growing company that operates in all 50 states, may not be as well known.
State Farm is the leading auto insurance company in the United States, with 9.2% of the total market share.1
Both companies offer a wide range of insurance products across the United States, so you must consider factors like rates, discounts, coverage options, and customer service when choosing the right company for you.
State Farm narrowly beats out Safeco Auto Insurance in terms of its Insurify Quality (IQ) Score. Insurify considers factors like customer experience ratings, rates, and financial strength ratings.
With all of this in mind, State Farm earns an IQ Score of 9.3 out of 10. Meanwhile, Safeco sits comfortably at 8.1. As their scores are close, it would be beneficial to consider all aspects of each insurer before choosing the best fit for your needs.
State Farm offers lower insurance premiums than Safeco, with an average rate of $56 per month for liability coverage, while Safeco has an average cost of $87 per month for liability coverage.
However, Safeco has fewer customer service complaints and unique discount options, while State Farm offers more discounts.
You can see some other ways these insurers compare against one another in the chart below.
Safeco is a larger company secured under the Liberty Mutual brand of companies; it also ranks high on J.D. Power ratings.2
State Farm has the largest market share for auto insurance in the United States, providing coverage to more than 9% of drivers. The company is well known for its customer service and low rates.
Safeco’s RightTrack program awards drivers an automatic 10% discount upon enrollment. Drivers can also qualify for a discount of up to 30% once they complete RightTrack. Safeco monitors driving behavior for 90 days before setting a discount of up to 30%, depending on driving behavior.
State Farm’s safe driving program also offers a discount of up to 30%. Drivers can earn discounts by using a mobile app on their smartphone to track their driving habits or by connecting eligible 2020 or newer model vehicles. However, the discount may disappear entirely if the app can’t collect enough driving data. Additionally, the discount may change every six months based on travel habits.
Overall, State Farm Insurance rates are typically a few dollars lower than Safeco. However, numerous factors could affect the cost of your policy, including your age, driving history, ZIP code, and credit score.
In the sections that follow, you’ll see how rates from State Farm and Safeco compare based on several different factors.
Drivers with a clean driving record can get more affordable insurance rates from State Farm, as you can see from the table below.
Drivers with a speeding ticket on their record should plan to pay slightly higher rates no matter which insurance company they choose to work with. Safeco drivers typically pay a little more per month than drivers who opt for State Farm coverage.
Young drivers often pay higher rates for insurance due to their lack of experience on the road, as well as their increased likelihood to engage in dangerous driving behaviors like distracted driving and driving at night.
The table below shows the national average teens can expect to pay for liability coverage from each insurer.
State Farm takes the win here. Drivers with bad credit pay less for coverage with State Farm insurance than Safeco insurance.
Once you reach age 70 and older, you can expect your insurance rates to climb. This is due to the reduced faculties and increased likelihood of high medical expenses after an accident common for senior drivers. Fortunately, you can still save money by opting for State Farm coverage.
When shopping for car insurance, you’ll want to consider the type of coverage options you have. Safeco and State Farm offer essential insurance products like bodily injury liability, property damage liability, personal injury protection, collision, comprehensive, and uninsured/underinsured motorist policies.
The most significant difference between Safeco and State Farm is that Safeco offers gap insurance, but State Farm doesn’t. Drivers insured with State Farm must purchase gap coverage from another company. While this may not seem like a big issue, having gap coverage through another company can create extra steps for resolving payouts following an accident.
The chart below provides a brief look at the general offerings of each insurer.
You’ll find discounts through both insurers, but Safeco has some unique offerings, including a diminishing deductible. People who maintain a clean driving record for six months will have their policy cost reduced by $100 per year. Additionally, Safeco drivers can receive a cash-back reward of 2.5% of their policy cost every six months if they don’t file any claims.
Both companies also allow drivers to save money by bundling their home and auto policies.
State Farm has many discounts, including safe driving, multiple auto savings, passive restraint discounts, anti-theft discounts, and vehicle safety discounts. Safeco is a little less clear on its website about the type of discounts it offers. However, it offers low mileage and military discounts, while State Farm doesn’t.
Below, you’ll find a list of discounts from each insurer.
Choosing the best option for your insurance needs requires a bit of time and research. If you still have questions, the answers below can help.
Safeco Insurance has high customer service ratings and a solid IQ Score. Policies cost slightly more than the national average, but the company offers plenty of discounts and the freedom to work with independent agents in your community.
No. State Farm regularly has some of the lowest premiums available. While drivers with a shaky driving record or bad credit score may pay slightly higher premiums, State Farm rates are generally very affordable.
Yes. State Farm has a solid reputation for paying claims. Most customers report being satisfied with the claims process. State Farm has a higher-than-average J.D. Power rating of 891 out of 1000.3
Middle-aged drivers with a clean driving record, solid credit scores, and newer vehicles with extra safety features will secure the best rates, not only from State Farm but from most insurers. If you fall outside these parameters, you can take advantage of discounts to lower your monthly premiums.
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