State Farm vs. Safeco Insurance

Which insurance carrier is right for you? Compare plans, cost, and quotes from State Farm and Safeco.

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State Farm vs. Safeco: What You Need to Know

State Farm was founded in 1922 by George Jacob “G.J.” Mecherle, a retired farmer and insurance salesman. The code of conduct for the company has always been “to help people manage the risks of everyday life, recover from the unexpected and realize their dreams.” From the start, the company was branded as being “Like a good neighbor” and for “being there” for all State Farm customers. Fittingly, the State Farm agent in the television commercials is Patrick Minnis, a real State Farm insurance agent from Tempe, AZ. In 1971, Barry Manilow wrote the famous State Farm jingle that cemented the company’s brand as a helpful neighbor and Weezer covered the famous jingle in 2011.

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 they 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.

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

State Farm vs. SAFECO: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with State Farm and SAFECO. On average, State Farm charges approximately $153.66 per month while SAFECO comes in at around $177.58 per month. For State Farm, the cheapest state average is Idaho at $73.26 per month and the most expensive is Michigan at $317.19 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.

State Farm

Average Rate

$153.66
SAFECO

Average Rate

$177.58
National

Average Rate

$117.77
State State Farm SAFECO
Alabama $141.41 -
Alaska $106.48 -
Arizona $154.41 $98.83
Arkansas $113.76 $126.94
California $197.35 $191.40
Colorado $138.92 $174.48
Connecticut $145.69 $202.09
Delaware $140.96 -
District of Columbia $151.93 -
Florida $184.47 -
Georgia $155.65 $377.71
Hawaii $106.23 -
Idaho $73.26 $72.79
Illinois $110.66 $107.32
Indiana $91.30 -
Iowa $81.49 $125.43
Kansas $116.24 $218.69
Kentucky $106.58 $162.84
Louisiana $205.11 -
Maine $73.74 -
Maryland $193.89 -
Massachusetts $76.65 -
Michigan $317.19 -
Minnesota $112.73 -
Mississippi $117.96 $141.80
Missouri $112.63 $158.28
Montana $84.59 $60.58
Nebraska $104.09 $141.01
Nevada $175.72 $241.22
New Hampshire $84.14 $87.03
New Jersey $198.52 -
New Mexico $111.89 -
New York $258.43 -
North Carolina $87.43 -
North Dakota $87.46 $333.01
Ohio $85.15 $141.86
Oklahoma $114.89 -
Oregon $109.69 $211.17
Pennsylvania $121.91 -
Rhode Island $105.60 -
South Carolina $105.77 -
South Dakota $94.84 -
Tennessee $96.60 $121.45
Texas $117.04 -
Utah $162.56 $148.82
Vermont $109.90 $146.86
Virginia $92.21 -
Washington $106.02 $163.53
West Virginia $88.17 $113.03
Wisconsin $81.53 $76.81
Wyoming $145.13 $86.14

State Farm vs. SAFECO: 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 State Farm and SAFECO typically charge for drivers who have more than 1 vehicle.

Number of Vehicles State Farm SAFECO
1 Vehicle $142.33 $163.80
2 Vehicles $194.53 $221.51
4 Vehicles $277.49 $
3 Vehicles $338.26 $307.92

State Farm vs. SAFECO: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average State Farm charges $148.24 per month and SAFECO charges $168.77 per month for customers who own their home.

Own/Rent State Farm SAFECO
Own $148.24 $168.77
Rent $156.74 $182.38

What is State Farm and Safeco Insurance Rating?

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

ComparisonState FarmSafeco
Year Founded19221923
Market Share10.1%
BBB RatingNRA-
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAbout Average
Moody’s RatingAA2
NAIC Complaint Index2.581.08
S&P RatingAAA

State Farm or Safeco: Insurance Products Offered

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

InsuranceState FarmSafeco
Auto Insurance
Commercial Insurance
Condo Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Pet Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

State Farm or Safeco: Ways To Save

State Farm offers a wide range of discounts to its policyholders, including Anti-theft, Defensive Driving, and Good Driving discounts. However, Safeco also offers a few discounts that State Farm doesn’t, including Tenture Award, Telematics Reward (Safeco RightTrack), and Teen Safety Rewards discounts. Start taking advantage of discounts offered by insurance providers like Safeco and State Farm insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

State FarmSafeco
Accident-Free DiscountAccident Forgiveness
Anti-theft DiscountAccident Prevention
Defensive Driving DiscountDiminishing Deductible
Good Driving DiscountDistant Student Discount
Multiple Auto DiscountDriver Training Discount
Multiple Line DiscountGood Student Discount
Passive Restraint DiscountNew Teen Reward
Safe Driver DiscountsNewly Independent Discount
Student Away at School DiscountTeen Safety Rewards
Vehicle Safety DiscountTelematics Reward (Safeco RightTrack)
Tenture Award

Pros & Cons of State Farm & Safeco

Pros

State Farm
  • State Farm is the largest auto insurer in the U.S and offers insurance in all states.
  • There are more than 19,000 captive agents across the country so it’s easy to find an agent in your area.
  • State Farm offers a range of insurance packages and is the #1 insurer for watercraft.
  • The State Farm app is an award-winning tool for managing your insurance and bank account.
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.

Cons

State Farm
  • State Farm does not offer accident forgiveness options.
Safeco
  • Safeco had more than the median number of complaints about auto insurance in 2018.

State Farm or Safeco Mobile Apps Options

The State Farm Mobile app is available for iOS and Android. This award-winning mobile app can help manage insurance and banking accounts, request roadside service, file and track claims and pay bills.

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.

State Farm Mobile App
iOS     4.815K user reviews
Android     4.116K user reviews
Safeco Mobile App
iOS     4.75.4K user reviews
Android     3.8416 user reviews

State Farm & Safeco Contact Info

State Farm Contact Info
AddressOne State Farm Plaza, Bloomington, IL 61710
Phone1-800-732-5246
Websitehttps://www.statefarm.com
Facebookhttps://www.facebook.com/statefarm
Twitterhttps://twitter.com/statefarm
Youtubehttps://www.youtube.com/statefarm
Linkedinhttps://www.linkedin.com/company/state_farm/
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/

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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