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Safeco vs. State Farm

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State Farm and Safeco Insurance are two very different car insurance carriers. State Farm is best-known for its traditional approach to insurance, while Safeco is popular for its ability to service customers through its mobile app, website and independent agents. At first glance, it can be daunting to research and compare these two companies, but Bankrate can help you decide which might be better suited to your insurance needs.

Read our full reviews:

Safeco vs State Farm: Car insurance rates comparison

To get an idea of State Farm vs. Safeco’s strengths and weaknesses, we reviewed some of the most important factors responsible for how a car insurance company performs. AM Best’s rating indicates the carrier’s financial stability and strength. The J.D. Power score comes from its annual study based on responses from policyholders regarding customer satisfaction around claims and customer service in general.

Our proprietary Bankrate Score can give a quick summary of all of these factors and more. Our editorial team reviewed categories such as a company’s policy features, discount opportunities, average insurance premiums pulled from Quadrant Information Services, mobile app accessibility and more. The better a company performed in these areas, the higher its overall score, for a maximum score of 5. While Safeco rates are not available, the national average for each of the scenarios below could still serve as a useful point of comparison when shopping for car insurance.

Car insurance company Bankrate Score AM Best J.D. Power Average annual premium for minimum coverage Average annual premium for full coverage
Safeco 4.5 NR 871/1,000 N/A N/A
State Farm 4.5 A++ 892/1,000 $456 $1,397

Rates by credit score

Unless you are a resident of Hawaii, California, Massachusetts or Michigan, insurance carriers typically review your credit score to set your insurance premiums. In Michigan, while insurers cannot use your actual credit score, they can use factors related to your score. Car insurance companies typically charge more for coverage if your credit score is lower. Insurance companies use statistics that show that vehicle owners with poor credit are more likely to file insurance claims as their reasoning for the price increase. Car insurance rates from Safeco based on credit score tier are unavailable, but the national average may be helpful for comparison.

Car insurance company Poor Average Good Excellent
National Average $3,002 $1,907 $1,771 $1,556
State Farm $3,584 $1,614 $1,397 $1,614

Rates by life stage

Different life changes could influence your car insurance rates. For example, married drivers tend to pay less than single drivers. Additionally, adding a new young driver to your policy could significantly increase your premium. With fewer years of driving experience, young drivers are considered a higher risk by car insurance companies, although this tends to drop over the years as long as a clean driving record is maintained.

Car insurance company Single Married Married with a 16-year-old driver
National Average $1,771 $1,668 $3,852
State Farm $1,397 $1,392 $2,973

Rates by driving record

Generally speaking, the cleaner your driving record, the cheaper your premiums will be. Safeco and State Farm both reward safer drivers with more discounts. While Safeco car insurance rates based on driving record are not available, this is a crucial rating factor for car insurance and the national average could still be useful for comparison purposes.

Car insurance company Clean driving record Speeding ticket Accident DUI conviction
National average $1,771 $2,138 $2,521 $3,421
State Farm $1,397 $1,606 $1,769 $2,293

Safeco vs State Farm: Discounts

Safeco and State Farm both offer the standard list of insurance discounts you could expect from nearly every insurance provider. Discounts for autopay, paperless billing and safe driving are typical. Some of the savings unique to each carrier include:

Safeco

  • RightTrack: This usage-based telematics program could earn you a discount off your car insurance for safe driving. Participants also earn a discount just for signing up.
  • Claims-free cash back: Receive a check for 2.5% of your policy’s premium for every six months without a claim (up to 5% per year).

State Farm

  • Steer Clear: The program helps drivers under 25 years old learn to be a better driver with tips for safer driving. Avoiding accidents, tickets and claims for three years may lower your premiums up to 20%.
  • Multiline: Insuring more than one vehicle or bundling your renters insurance or homeowners insurance with your auto policy could help you earn savings on both policies.

Safeco vs State Farm: Online and mobile experience comparison

Both companies have a strong digital presence and provide a full-featured mobile app and easy-to-navigate website. State Farm’s online resources and knowledge base is more comprehensive than Safeco’s. Safeco’s mobile app was recently redesigned and is receiving good feedback from policyholders.

Safeco

  • Apple Store: Safeco’s app for iOS received 4.8 out of 5 from 55,000 reviews. Just a few taps let you pay your bill using your debit or credit card and even file or track your claims.
  • Google Play: The Safeco app has a 4.4 out of 5 from 2,500 votes. The app integrates with your smartphone for security using facial recognition or fingerprint ID. Contact your agent or request roadside assistance and access your documents and bills through the app.

State Farm

  • Apple Store: With a score of 4.8 out of 5 from 484,000 votes, the State Farm app gets rave reviews from iOS users. The latest update allows you to choose your rental car in just a few taps while your car is in the shop being repaired. The app integrates with all your State Farm coverages and lets you file a claim in just a few steps.
  • Google Play: Over 94,000 Google Play users scored the State Farm app with a 4.6 out of 5. You can pay your bills, file property, vehicle and glass claims and order roadside assistance or search for repair facilities.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Credit: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base), and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining auto insurance rates: CA, HI, MA

Age: Rates were calculated by evaluating a 16-year-old male or female driver on their married parents’ full coverage car insurance policy.

Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction (BAC of >= .08) and lapse in coverage.

Bankrate Score

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

Written by
June Sham
Insurance Writer
June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies.
Edited by
Insurance Editor