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
  • 17+ years in insurance and personal finance writing

  • In-depth knowledge of home and real estate topics

Angela is an insurance and personal finance expert who uses her experience to create content that helps readers understand important and complex topics.

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Chris Schafer
Edited byChris Schafer
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 Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVice President of Engineering
  • 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 May 29, 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 4.6 out of 5. Meanwhile, Safeco sits comfortably at 4.2. 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 $53 per month for liability coverage, while Safeco has an average cost of $71 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.

FactorSafecoState Farm
IQ Score4.24.6
J.D. Power customer satisfaction score801 out of 1,000833 out of 1,000
Average quote: liability only$71$53
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 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. Criteria are weighted 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 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use 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 20,000 customer reviews across 155 car insurance companies. We also considered 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 United States, 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 identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

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
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.2
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
825
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.
$71/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.
$130/mo

Owned by Liberty Mutual, Safeco offers car, homeowners, renters, pet, and other insurance products. The company has been in busines since 1923, and provides new vehicle replacement coverage, rental car reimbursement, liability, and full-coverage policies. Safeco’s money-saving programs include accident forgiveness, a diminishing deductible, and a cash back program for customers who remain claims-free for six months. The company has an average amount of complaints in the National Association of Insurance Commissioner’s Consumer Complaints Index, and placed 13th on the J.D. Powers’ Overall Customer Satisfaction Index. A.M. Best gives Safeco a score of A for financial stability.

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

  • Many options for customizing car insurance

Cons
  • Limited number of discounts

  • Customer reviews indicate room for improvement in customer service

Read our Safeco review
Jennetta - May 19, 2024
Verified

Too High for Three Years Without a Claim and Only 5000 Miles of Local Driving

Search around, it's much too high.

Jonathan - May 19, 2024
Verified

The Moment You Have an Accident, Start Looking for a New Insurance Company

The experience was absolutely great until they decided not to renew my policy due to an accident. I felt so betrayed by a company that I had been using for over 5 years.

Samuel - May 13, 2024
Verified

Unfortunate Recent Experience with Safeco

I wouldn't recommend them. They keep increasing your premiums every year. Last time, they cited inflation as the reason, the time before that it was due to RVs, and the time before that because the Dodgers were high.

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
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.6
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
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.
$53/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.
$115/mo

State Farm has been in business for more than 100 years, and today sells auto and other vehicle insurance, homeowners, life, health, pet, disability, and small business insurance. Available in all 50 states, State Farm car insurance policies offer multiple ways to save, from customizing coverage types, to a robust list of discounts. The company has far fewer complaints than expected for the industry, according to the National Association of Insurance Commissioner’s Consumer Complaints Index. State Farm also ranks among the top 10 companies for customer satisfaction in every region on the J.D. Power Overall Customer Satisfaction Index.

Pros
  • High rates of customer satisfaction

  • Rideshare insurance available

Cons
  • No gap insurance offering

  • May not be the cheapest choice for drivers with violations

Read our State Farm review
Poncho - May 29, 2024
Verified

Poor

They need to reduce their policy prices.

Nevin - May 29, 2024
Verified

Need Better Agents

The relationship with the agent was poor.

Mindy - May 29, 2024
Verified

Brianna is very kind and helpful, she kept me from making a big mistake

Excellent service.

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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 TypeSafecoState Farm
Clean driving record$71$53
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 TypeSafecoState Farm
Drivers with a speeding ticket$86$61
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 TypeSafecoState Farm
18-year-old$169$53
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 TypeSafecoState Farm
Drivers with bad credit$85$79
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 TypeSafecoState Farm
Senior drivers$55$38
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.

CoverageSafecoState 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.

DiscountSafecoState 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 HalachevVice President of Engineering
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVice President of Engineering
  • 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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