Safeco vs. State Farm: Which Is the Best? (2024)

State Farm edges out Safeco with slightly lower rates and a higher Insurify Quality (IQ) Score.

Angela Brown
Written byAngela Brown
Angela Brown
Angela Brown
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Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

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Konstantin Halachev
Data reviewed byKonstantin Halachev
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Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

Updated November 27, 2024

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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.

Quick Facts
  • Safeco offers unique discounts, like cash-back rewards for drivers who don’t file claims.

  • State Farm has lower rates across the board than Safeco.

  • Both Safeco and State Farm offer coverage for drivers with less-than-perfect records.

Safeco vs. State Farm: The verdict

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 8.3. 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 $54 per month for liability coverage, while Safeco has an average cost of $82 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.

Factor
Safeco
State Farm
IQ Score8.39.3
J.D. Power customer satisfaction score801 out of 1,000833 out of 1,000
Average quote: liability only$82$54
Number of available discounts310
Number of states where it operates5048
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Safeco

Safeco is a larger company secured under the Liberty Mutual brand of companies; it also ranks high on J.D. Power ratings.[2]

Compare personalized, real-time quotes
User Reviews
3.4
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.3/10
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$82/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$143/mo

Safeco, a Liberty Mutual company, has been in business for nearly 100 years. Safeco stands out for some of its optional offerings. If your new car is less than a year old with under 150,000 miles, Safeco’s new vehicle replacement coverage pays the value of a comparable new car if yours is stolen or totaled. Safeco also offers cash back for policyholders who remain claims-free over a six-month review period, as well as a diminishing deductible for being claims-free. The company also scored above average for customer satisfaction in J.D. Power’s 2023 U.S. Auto Claims Satisfaction Study.

Pros
  • Pays cash back to customers who remain claims-free

  • Many options for customizing car insurance

  • Accident forgiveness available

Cons
  • May not be the cheapest option for drivers with infractions on their records

  • Customer reviews indicate room for improvement in customer service

  • Higher-than-average number of complaints with the National Association of Insurance Commissioners

Read more driver reviews of Safeco
Denise - November 26, 2024
Verified

Who Can Afford This?

The price went up by $1300 in one year, which is absolutely ridiculous considering we've never had a claim and have a spotless driving record. We called to discuss our concerns, but the agent didn't seem too interested in trying to help us out.

William - November 25, 2024
Verified

High

Too high.

Sarah - November 10, 2024
Verified

Too Expensive

The cost is very high. There is no discount for driving less than 50 miles per week. However, we do appreciate the check for not making a claim.

State Farm

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.

Compare personalized, real-time quotes
User Reviews
3.2
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$119/mo

State Farm is the largest U.S. auto insurer by market share and has operated for more than 100 years. Available in all 50 states, State Farm stands out for its customer service, extensive discounts, and optional coverages. The insurer ranked fifth for overall customer satisfaction in the 2023 J.D. Power U.S. Auto Claims Satisfaction Study. Safe drivers can enjoy many State Farm discounts, including ones for young motorists who complete an approved driver training course, for having a vehicle with certain safety equipment, and for going three years or longer without violations or at-fault accidents.

Pros
  • High rates of customer satisfaction

  • Rideshare insurance available

  • Savings for bundling auto with home, renters, condo, or life insurance

Cons
  • No gap insurance offering

  • May not be the cheapest choice for drivers with violations

  • Accident forgiveness limited to longtime customers with clean driving records

Read more driver reviews of State Farm
Mary - November 26, 2024
Verified

Life

It's just fine. However, like everything else, costs just keep going up. I'm looking for a way to save more as living paycheck to paycheck is not fun.

Robert - November 26, 2024
Verified

Claimed

State Farm helped me quickly when UPS totaled my motorcycle and paid it FAST.

Donald - November 26, 2024
Verified

No Bargains Here, Just Premium Increases

Way too expensive.

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Safeco RightTrack vs. State Farm Drive Safe & Save

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.

Safeco vs. State Farm: Which is the cheapest?

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.

State Farm: Cheapest for drivers with a clean driving record

Drivers with a clean driving record can get more affordable insurance rates from State Farm, as you can see from the table below.

Driver Type
Safeco
State Farm
Clean driving record$82$54
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for drivers with a speeding ticket

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.

Driver Type
Safeco
State Farm
Drivers with a speeding ticket$101$63
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for teen drivers

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.

Driver Type
Safeco
State Farm
18-year-old$177$54
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for drivers with bad credit

State Farm takes the win here. Drivers with bad credit pay less for coverage with State Farm insurance than Safeco insurance.

Driver Type
Safeco
State Farm
Drivers with bad credit$99$82
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for senior drivers

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.

Driver Type
Safeco
State Farm
Senior drivers$72$39
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Compare coverages: Safeco vs. State Farm

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.

Coverage
Safeco
State Farm
Gap insuranceYesNo
Roadside assistanceYesYes
Rideshare insuranceYesYes
Rental reimbursementYesYes
Umbrella insuranceYesYes
Windshield repairYes (with comprehensive)Yes

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Compare discounts: Safeco vs. State Farm

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.

Discount
Safeco
State Farm
Clean driving recordYesYes
Defensive driving courseYesYes
Multi-policyYesYes
Multi-carYesYes
Low mileageYesNo
Telematics (safe driving app)YesYes
Anti-theft deviceYesYes
New carNoNo
Military/affiliationYesNo
Good studentYesYes
LoyaltyYesYes
Auto payYesNo
Student away at schoolYesYes
HomeownerNoYes
Alternative fuelNoNo

Safeco vs. State Farm FAQs

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.

  • Is Safeco insurance good or bad?

    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.

  • Is State Farm the most expensive insurance?

    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.

  • Does State Farm have a good reputation for paying claims?

    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.[2]

  • Who gets State Farm’s best rates?

    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.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Insurance Information Institute. "Facts + Statistics: Insurance company rankings."
  2. J.D. Power. "Auto Insurers Manage Customer Expectations as Repair Cycle Times Double in Two Years, J.D. Power Finds."
Angela Brown
Angela Brown

Angela Brown is a freelance writer with 17 years of professional writing and editing experience.
She specializes in finance, real estate, and insurance content. Angela uses her experience to
create easy-to-understand content that helps consumers understand tough topics better. When
she’s not working, she enjoys spending time with her family and planning vacations.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Konstantin Halachev
Data reviewed byKonstantin HalachevVP of Engineering & Data Science
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

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