Safeco vs. Mercury Insurance

Which insurance company is right for you? Compare pros & cons, price, and quotes from Safeco and Mercury.

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Safeco vs. Mercury: 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.

George Joseph founded Mercury General Corporation in Los Angeles with a promise to provide more affordable rates than other carriers and the best customer service in the industry. The first policy was sold in 1962 when the company had only six employees and 90 agents. Two years later Mercury Insurance opened an office in Orange County, CA. In 1966 they opened their first office in the San Fernando Valley and a year later earned an A+ rating from A.M. Best. They continued expanding in southern California with an office opening in San Diego. In 1968 Mercury established a holding company, then acquired shares of Mercury Casualty Company and made it a wholly-owned subsidiary of Mercury General Corp. They then moved into their newly opened San Jose office. In 1970, Mercury wrote $1 million in premiums in one month and grew to employ 467 agents. In 1972 they sold their first homeowners policy. In 1973 Mercury formed a subsidiary for underwriting preferred risk, thereby increasing business using a 34-page manual written by the company’s founder. In 1974, Mercury opened its first Sacramento office and by 1977, Mercury Insurance becomes the largest insurance subsidiary, producing over $1 billion in premiums by 2011. In 1978, Mercury established a Special Investigations Unit (SIU) to fight insurance fraud.

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 Mercury Overview.

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

Below is a list of the average rates that drivers typically pay with SAFECO and Mercury. On average, SAFECO charges approximately $177.58 per month while Mercury comes in at around $218.87 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 Mercury, the cheapest state average is Virginia at $135.16 per month and the most expensive is Florida at $300.67 per month.

SAFECO

Average Rate

$177.58
Mercury

Average Rate

$218.87
National

Average Rate

$117.62
State SAFECO Mercury
Arizona $98.83 $194.07
Arkansas $126.94 -
California $191.40 $172.66
Colorado $174.48 -
Connecticut $202.09 -
Florida- $300.67
Georgia $377.71 $203.18
Idaho $72.79 -
Illinois $107.32 $152.12
Iowa $125.43 -
Kansas $218.69 -
Kentucky $162.84 -
Mississippi $141.80 -
Missouri $158.28 -
Montana $60.58 -
Nebraska $141.01 -
Nevada $241.22 $296.83
New Hampshire $87.03 -
New Jersey- $227.85
North Dakota $333.01 -
Ohio $141.86 -
Oklahoma- $157.01
Oregon $211.17 -
Tennessee $121.45 -
Texas- $221.75
Utah $148.82 -
Vermont $146.86 -
Virginia- $135.16
Washington $163.53 -
West Virginia $113.03 -
Wisconsin $76.81 -
Wyoming $86.14 -

SAFECO vs. Mercury: 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 Mercury typically charge for drivers who have more than 1 vehicle.

Number of Vehicles SAFECO Mercury
1 Vehicle $163.80 $199.10
2 Vehicles $221.51 $278.84
3 Vehicles $307.92 $480.58
4 Vehicles $ $522.70

SAFECO vs. Mercury: 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 Mercury charges $213.23 per month for customers who own their home.

Own/Rent SAFECO Mercury
Own $168.77 $213.23
Rent $182.38 $222.28

What is Safeco and Mercury Insurance Rating?

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

ComparisonSafecoMercury
Year Founded19231962
Market Share1.13%
BBB RatingA-A+
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAverage
Moody’s RatingA2Baa2
NAIC Complaint Index1.08
S&P RatingAA

Safeco or Mercury: Insurance Products Offered

What coverage is available through Safeco and Mercury? Both insurance companies offer Auto, Commercial, Condo, Home, Renters, and Umbrella insurance. Additional products from Safeco insurance also includes Motorcycle, Pet, and RV 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 Mercury Insurance page.

InsuranceSafecoMercury
Auto Insurance
Commercial Insurance
Condo Insurance
Home Insurance
Motorcycle Insurance
Pet Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Safeco or Mercury: Ways To Save

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

SafecoMercury
Accident ForgivenessAnti-theft Feature Discount
Accident PreventionAuto Pay Discount
Diminishing DeductibleE-signature Discount
Distant Student DiscountGood Driver Discount
Driver Training DiscountGood Student 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)
Tenture Award

Pros & Cons of Safeco & Mercury

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.
Mercury
  • Offers low rates and excellent coverage for homeowners, condo, renters, umbrella, auto, mechanical breakdown, business auto and business insurance in 13 states.

Cons

Safeco
  • Safeco had more than the median number of complaints about auto insurance in 2018.
Mercury
  • Mercury Insurance is only available in 13 states.
  • Not all discounts are available in all 13 states.

Safeco or Mercury 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 Mercury Mobile app is available for android. This insurance tool is where you can manage payments, view auto policy information, download ID cards and more.

Safeco Mobile App
iOS     4.75.4K user reviews
Android     3.8416 user reviews
Mercury Mobile App
iOSN/ANot Available
Android     2.7200 user reviews

Safeco & Mercury 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/
Mercury Contact Info
Address4484 Wilshire Boulevard Los Angeles, California
Phone1 (800) 503-3724
Websitehttps://www.mecuryinsurance.com
Facebookhttps://www.facebook.com/MercuryInsurance
Twitterhttps://twitter.com/mercuryins
Youtubehttps://www.youtube.com/mercury
Linkedinhttps://www.linkedin.com/company/mercury-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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