Safeco vs. Farmers Insurance

Which insurance company is right for you? Compare premiums, coverage, and quotes from Safeco and Farmers.

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Safeco vs. Farmers: What You Need to Know

In 1923, Hawthorne K. Dent founded the General Insurance Company of America. Most insurance activity during that time was taking place in the Northeast, so its Seattle location made “The General” a pioneer not only geographically but also with their competitive prices and great service. Today, however, “the General” is called Safeco, and they offer insurance to people across the country. It was in 1953 that the General Insurance Company of America created a subsidiary called Selective Auto and Fire Insurance Company of America (SAFECO). It was intended to compete with the national companies using computer automation tools, which allowed them to enter the life insurance business. By the end of the 1960s, the company also began offering mutual funds and commercial lines of credit. It became so successful that the changed the name entirely to Safeco. In 1997, Safeco began expanding east by acquiring American States Financial Corporation, doubling its agency in size. They soon became a leading insurer for small to mid-sized businesses. In 2002, the company’s dedication to automated technology helped the company recover from the slump of the late 1990s. In 2004, Safeco sold its life and investment division to refocus on surety bonds and its property and casualty lines of insurance. In 2008, Safeco was bought by Liberty Mutual Insurance Company, a change that allows Safeco to focus solely on personal insurance lines today.

Farmers Insurance began selling insurance a year before the Great Depression and survived to become a household name. Founders John C. Tyler and Thomas E. Leavey started off by going farm to farm to gain their first policies. They specifically lowered rates for farmers and ranchers because they understood that these occupations posed fewer risks with their vehicles. By 1928, they were able to open an office in downtown Los Angeles. During the Great Depression, Farmers was one of the few companies that were able to pay claims. When a devastating earthquake hit Los Angeles, Farmers paid out claims for damaged cars and became the first insurance company to offer comprehensive insurance.

Below is a list of average rates, rankings, products and discounts for the two companies. For full company overviews, you can visit SAFECO Overview and Farmers Overview.

SAFECO vs. Farmers: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with SAFECO and Farmers. On average, SAFECO charges approximately $177.58 per month while Farmers comes in at around $264.40 per month. For SAFECO, the cheapest state average is Montana at $60.58 per month and the most expensive is Georgia at $377.71 per month. For Farmers, the cheapest state average is North Dakota at $112.50 per month and the most expensive is Michigan at $712.11 per month.

SAFECO

Average Rate

$177.58
Farmers

Average Rate

$264.40
National

Average Rate

$117.77
State SAFECO Farmers
Alabama- $195.20
Arizona $98.83 $260.68
Arkansas $126.94 $192.40
California $191.40 $258.23
Colorado $174.48 $289.21
Connecticut $202.09 -
Georgia $377.71 -
Idaho $72.79 $123.45
Illinois $107.32 $199.08
Indiana- $136.14
Iowa $125.43 $141.59
Kansas $218.69 $197.95
Kentucky $162.84 -
Michigan- $712.11
Minnesota- $168.82
Mississippi $141.80 -
Missouri $158.28 $203.54
Montana $60.58 $192.46
Nebraska $141.01 $197.97
Nevada $241.22 $313.07
New Hampshire $87.03 -
New Mexico- $217.58
North Dakota $333.01 $112.50
Ohio $141.86 $146.86
Oklahoma- $165.64
Oregon $211.17 $173.29
South Dakota- $119.82
Tennessee $121.45 $157.88
Utah $148.82 $220.13
Vermont $146.86 -
Washington $163.53 $153.41
West Virginia $113.03 -
Wisconsin $76.81 $165.74
Wyoming $86.14 $203.01

SAFECO vs. Farmers: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that SAFECO and Farmers typically charge for drivers who have more than 1 vehicle.

Number of Vehicles SAFECO Farmers
1 Vehicle $163.80 $244.72
2 Vehicles $221.51 $325.39
3 Vehicles $307.92 $565.26

SAFECO vs. Farmers: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average SAFECO charges $168.77 per month and Farmers charges $258.87 per month for customers who own their home.

Own/Rent SAFECO Farmers
Own $168.77 $258.87
Rent $182.38 $267.76

What is Safeco and Farmers Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Safeco and Farmers ranked among the industry ratings.

ComparisonSafecoFarmers
Year Founded19231928
Market Share3%
A.M. Best RatingA-
BBB RatingA-A+
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAbout Average
Moody’s RatingA2A2
NAIC Complaint Index1.080.8
S&P RatingAA

Safeco or Farmers: Insurance Products Offered

What coverage is available through Safeco and Farmers? Both insurance companies offer Auto, Commercial, Home, Motorcycle, RV, and Umbrella insurance. Additional products from Safeco insurance also includes Condo, Pet, and Renters insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit SAFECO and Farmers Insurance page.

InsuranceSafecoFarmers
Auto Insurance
Commercial Insurance
Condo Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Pet Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Safeco or Farmers: Ways To Save

Farmers offers a wide range of discounts to its policyholders, including Distant Student, Electronic Funds Transfer (EFT), and Good Student discounts. In contrast, Safeco also offers a few discounts that Farmers doesn’t, including Tenture Award, Telematics Reward (Safeco RightTrack), and Teen Safety Rewards discounts. Start taking advantage of discounts offered by insurance providers like Farmers and Safeco insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

SafecoFarmers
Accident ForgivenessAlternative Fuel Discount
Accident PreventionDistant Student
Diminishing DeductibleElectronic Funds Transfer (EFT) Discount
Distant Student DiscountGood Student
Driver Training DiscountHomeowner Discount
Good Student DiscountMulti-Car Discount
New Teen RewardMulti-policy Discount
Newly Independent DiscountOccupational Discount
Teen Safety RewardsPay-in-Full Discount
Telematics Reward (Safeco RightTrack)Teen Driver Discount
Tenture AwardTransfer Discount

Pros & Cons of Safeco & Farmers

Pros

Safeco
  • Diminishing deductible can save you money if you’re ever in an accident.
  • Multiple losses, one deductible means that when you bundle, you can save money if an unexpected event damages both your car and home.
  • Safeco had less than the median number of complaints for home insurance, according to the National Association of Insurance Commissioners.
Farmers
  • Financial strength
  • Great employee education and customer service.

Cons

Safeco
  • Safeco had more than the median number of complaints about auto insurance in 2018.
Farmers
  • Steep early-cancellation fees.

Safeco or Farmers Mobile Apps Options

The Safeco Insurance mobile app is available for iOS and Android. This insurance concierge gives you access to your policy 24/7. This mobile and tablet friendly app help you pull up your ID cards, make a payment, manage your policies and file a claim as well as submit accident photos.

The Farmers app is available for iOS and Android. The Farmers Mobile App allows you access to self-service features.

Safeco Mobile App
iOS     4.75.4K user reviews
Android     3.8416 user reviews
Farmers Mobile App
iOS     4.83K user reviews
Android     43K user reviews

Safeco & Farmers Contact Info

Safeco Contact Info
Address1400 South Highway Drive, Suite 100, Fenton, MO, 63026
Phone1-888-723-3260
Websitehttps://www.safeco.com
Facebookhttps://www.facebook.com/SafecoInsurance/
Twitterhttps://twitter.com/Safecoinsurance
Youtubehttps://www.youtube.com/Safeco
Linkedinhttps://www.linkedin.com/company/safeco-insurance/
Farmers Contact Info
Address6301 Owensmouth Avenue, Woodland Hills, CA 91367
Phone1 (800) 974-6755
Websitehttps://www.Farmers.com
Facebookhttps://www.facebook.com/FarmersInsurance/
Twitterhttps://twitter.com/WeAreFarmers
Youtubehttps://www.youtube.com/farmersinsurance
Linkedinhttps://www.linkedin.com/company/farmers-insurance/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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