GEICO vs. Safeco Car Insurance [2021]

If you're trying to decide between Geico vs. Safeco car insurance, we have a solution for you. Our Geico vs. Safeco car insurance guide will compare rates, services, and various other factors regarding both insurance companies. With good credit, you could pay $124 per month for Geico car insurance and $164 for Safeco car insurance. Before committing to a car insurance company from which to buy car insurance, learn more now.

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A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Dec 1, 2020

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Geico vs. Safeco Car Insurance Overview
SummaryGeico StatsSafeco Stats
Year Founded19361923
Headquarters5260 Western Avenue
Chevy Chase, MD 20815
175 Berkeley Street
Boston, MA 02116
AvailabilityAll StatesAll States
Direct Premium Written$6.3 billion$3.2 billion
Market Share13.00%5.00%
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Are you trying to decide between Geico vs. Safeco car insurance? Both car insurance companies appear reliable, but if you’re not sure which one to pick, our Geico vs. Safeco auto insurance comparison guide will show you everything you need to know about the difference between both car insurance companies.

While Geico car insurance has a more significant market share than Safeco car insurance, it’s reasonable to weigh your options to see which company is best for you.

Continue reading to learn more about Geico and Safeco and how you can save money. You can start searching for affordable auto insurance by entering your ZIP code in the FREE comparison tool above.

Geico vs. Safeco: Comparing Car Insurance Rates

One of the main focal points of comparing car insurance is the price. Cost-efficient auto insurance provides peace of mind. However, car insurance coverage that’s too cheap likely has limited coverage options. Let’s compare car insurance rates in the following sections to give an idea of how much you’ll pay for car insurance per year.

Geico vs. Safeco: Which is the cheapest by the state?

You can get auto insurance quotes directly from the companies. However, it will require some personal information for a quote. Instead of going through collection pages, we can provide an idea of how much you’ll pay for car insurance for each state.

Examine the list of states and compare car insurance rates from Geico and Safeco.

Geico vs. Safeco Average Annual Car Insurance Rates by State
StatesGEICO Average Annual RatesSafeco Average Annual Rates
New Hampshire$1,615$8,444
Virginia$2,062Data Not Available
West Virginia$2,121$2,924
Arizona$2,265Data Not Available
New York$2,428$6,541
North Dakota$2,668$12,853
New Jersey$2,755$6,767
North Carolina$2,937$2,183
South Dakota$2,940$7,516
South Carolina$3,178Data Not Available
Texas$3,263Data Not Available
Arkansas$3,485Data Not Available
District of Columbia$3,693Data Not Available
New Mexico$4,458Data Not Available
Rhode Island$5,603$6,184
Louisiana$6,155Data Not Available
Average Rates$3,074$5,296
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Massachusetts has the cheapest Geico car insurance rate, while Montana carries the most affordable Safeco car insurance rate. However, the most expensive state for both companies in Michigan.

Geico vs. Safeco: Which is cheapest by driving record?

Your driving record could be the saving grace or glooming doom to your finances. Driving history is like your driving report card; no reports on a driving record are an indication you’re free of traffic violations, accidents, and driving-related convictions.

Driving-related convictions are crimes like DUI or reckless driving.

One traffic violation, accident, and driving-related conviction could increase your rates. To ensure they’re not taking an equal risk, car insurance companies will look back up to three years at your driving record.

Why do DUI and reckless driving affect your auto insurance? According to the National Highway Traffic Safety Administration (NHTSA), 30 people die per day from DUI-related crashes, which is one person every 50 minutes. In 2018, approximately 12,000 people died in crashes related to speeding, drowsy driving, and distracted driving.

Therefore, car insurance companies issue higher rates for those who have violations on their record because they’re a high risk. Read the following sections to compare Geico and Safeco car insurance based on a driving record.

Rates With One Speeding Ticket

Speeding tickets are common offenses, which some car insurance companies may not hold against you. Let’s examine the average annual rates based on one speeding ticket.

Geico vs. Safeco Average Annual Rates with One Speeding Ticket
Driving ViolationGEICO Average Annual Rates with One Speeding TicketSafeco Average Annual Rates with One Speeding Ticket
One speeding ticket$1,395$2,512
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So, who has the cheapest car insurance? Geico is the cheapest of the two companies.

But how is it cheaper than the average in most states? Geico and Safeco auto insurance rates change based on the driver record. Therefore, a clean driving record or a driving record with one speeding ticket isn’t much of a risk to insurance companies.

Continue through the rest of the violations that affect car insurance to see how much more they affect risk and rates per year.

Rates With One Car Accident

Accidents are taken more seriously. This probably the second-highest increase for car insurance rates. Let’s compare Geico and Safeco’s annual rates based on one accident on a driving record.

GEICO vs. Safeco Average Annual Car Insurance Rates with One Accident
Driving ViolationGEICO Average Annual Rates with One AccidentSafeco Average Annual Rates with One Accident
One accident$1,719$2,258
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Geico is $539 cheaper than Safeco car insurance when determining rates based on accidents.

Rates With One DUI

DUI/DWI can increase your rates the most. Did you know that a DUI/DWI can stay on your driving record for a minimum of five years?

Twelve states in the United States have laws where a DUI/DWI stays on your driving record for life.

What are the car insurance rates for Geico and Safeco based on DUI/DWI? Let’s look at the rates affected buy DUI/DWI.

GEICO vs. Safeco Average Annual Car Insurance Rates with One DUI/DWI
Driving ViolationGEICO Average Annual Rates with One DUI/DWISafeco Average Annual Rates with One DUI/DWI
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Safeco is $246 more expensive than GEICO car insurance. Both companies have rates much higher than speeding tickets and accident increases.

Geico vs. Safeco: What is cheapest by age and gender?

Your age, gender, and marital status will determine how much you’ll pay for car insurance per year. Married senior drivers pay the least for auto insurance, while teen drivers yield the most expensive rates. Don’t just take our word for it. Check out the car insurance rates below.

GEICO vs. Safeco Average Annual Car Insurance Rates Based on Age, Gender, and Marital Status
Driver Age, Gender, and Marital StatusGEICO Average Annual Rates Safeco Average Annual Rates
Married 60-year-old female$2,241$3,445
Single 25-year-old male$2,263$4,503
Married 60-year-old male $2,283$3,681
Married 35-year-old female$2,303$3,803
Married 35-year-old male$2,312$3,857
Single 25-year-old female$2,379$3,960
Single 17-year-old female$5,654$11,621
Single 17-year-old male$6,279$13,719
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As expected, teen drivers have the highest annual rates. Teens are the least experienced on roadways and tend to take more risks while driving. Married 60-year-old and older drivers will pay much less for car insurance.

Watch this video on how you can save money on teen insurance.

Why is teen insurance so expensive? One of the reasons why teen driving is costly is the number of fatal crashes teens are involved in each year.

According to the Center for Disease Control (CDC), fatal car crashes are the leading cause of teen deaths in the United States.

Geico vs. Safeco: Which is the cheapest by credit score?

Your credit score can determine how much you pay for car insurance. Why? Statistics show that people with good credit are less likely to file a claim, so they’re issued cheaper rates than those with fair and poor credit.

Let’s look at the annual rate of both companies based on credit history.

GEICO vs. Safeco Average Annual Car Insurance Rates by Credit History
CompaniesAverage Annual Rates with Good CreditAverage Annual Rats with Fair CoverageAverage Annual Rates with Poor Credit
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Geico car insurance rates based on credit are much cheaper than Safeco’s. If your credit improves while you have a policy with either company, contact an agent right away and report your improved credit score.

Geico vs. Safeco: Which is the cheapest by annual mileage?

Another factor that determines the cost of auto insurance is annual mileage. Annual mileage, or annual commute mileage, is the estimated miles you’re expected to drive during your car insurance policy.

A car that you use for general commuting, such as work, shopping, etc., is a vehicle that will travel over 10,000 miles during the policy. Pleasure cars tend to have cheaper commuting rates because you’re driving them less.

Here’s a look into car insurance based on annual mileage.

GEICO vs. Safeco Average Annual Car Insurance Rates by Annual Mileage
CompaniesAverage Annual Rates for
10 Miles Commute
6,000 Annual Mileage
Average Annual Rates for
25 Miles Commute
12,000 Annual Mileage
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Safeco auto insurance is nearly $3,000 more than Geico regarding annual commute mileage rates.

Geico vs. Safeco: Which is cheapest by car make and model?

Have you ever wondered why vehicles have different auto insurance rates? Your car make and model determine car insurance rates. New cars are valued at much higher costs, while older vehicles lose their value. The only exception to that is classic cars.

Check out the annual rates to get an idea of how car insurance is different.

GEICO vs. Safeco Average Annual Car Insurance Rates by Car Make and Model
Car Make and ModelGEICO Average Annual RatesSafeco Average Annual Rates
2015 Ford F150 Lariat$3,091$5,825
2015 Toyota RAV4 XLE$3,092$5,830
2018 Toyota RAV4 XLE$3,337$5,989
2018 Ford F150 Lariat$3,338$6,244
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The progression in make and model years increases the annual rates. Safeco insurance by vehicle make and model is approximately $2,000 or more than Geico.

Geico vs. Safeco: Which is cheapest by coverage level?

The coverage rule on your policy determines the coverage level. Each state in the United States has a unique coverage rule for minimum requirements for auto insurance.

The minimum requirements are known as liability-only coverage.

If you think you need more than the minimum, a car insurance company offers higher coverage rules, such as 50/100/50 (medium) or 100/300/100 (high). This means $50,000 for bodily injury of one person per accident, $100,000 for bodily injury for multiple people per accident, and $50,000 for property damage.

Let’s see how coverage level can affect your auto insurance rates with Geico and Safeco.

GEICO vs. Safeco Average Annual Car Insurance Rates by Coverage Level
CompaniesAverage Annual Rates with Low CoverageAverage Annual Rates with Medium CoverageAverage Annual Rates with High Coverage
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Based on the annual rates above, you can save thousands of dollars by enrolling in Geico car insurance.

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Geico vs. Safeco: Ratings and Customer Satisfaction

Customer ratings can make a difference when selecting an auto insurance company. However, you should also consider financial strength ratings because you don’t want a bad company with its finances.

One of the ways to measure a company’s financial strength is strong financial strength rating agencies. These agencies report how well companies manage wealth and how well they meet obligations to their customers.

Some of these agencies even collect data from customers to see overall customer satisfaction experience.

Geico vs. Safeco: What are their financial ratings?

Let’s review Geico and Safeco’s financial ratings.

GEICO vs. Safeco Financial Strength Ratings
Financial Strength Ratings AgenciesGEICO Financial Strength RatingsSafeco Financial Strength Rating
A.M. BestA++A
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Geico’s ratings are slightly better than Safeco’s. A.M. Best, Moody’s, and S&P say that Geico has a stable financial outlook with a superior ability to meet customers’ obligations. In contrast, Safeco has a stable outlook with slightly less response time to customer needs.

Geico vs. Safeco: A.M. Best Ratings

Geico has the best A.M. Best ratings, while Safeco’s A.M. Best rating is slightly lower, but still in an excellent standing in terms of financial strength.

Geico vs. Safeco: Moody’s Ratings

Both companies are a low credit risk and shows signs of financial growth. However, Geico’s score is much better. 

Geico vs. Safeco: S&P Ratings

Finally, S&P reports are the same as A.M. Best’s and Moody’s. Geico continues to grow much faster and earns more. Safeco is earning more premiums each year, but not at the rate at which Geico operates. 

Geico vs. Safeco: How do customers rate them?

What about the customers? These agencies collect customer satisfaction reviews throughout the year and summarize them into a singular score. Let’s examine customer reviews.

GEICO vs. Safeco Customer Satisfaction Ratings
Customer Satisfaction Ratings AgenciesGEICO's Customer Satisfaction RatingsSafeco's Customer Satisfaction Ratings
J.D Power Circle Ratings3 out of 53 out of 5
NAIC Claim Index1.472.31
Consumer Reports Reader Score8988
Better Business Bureau (BBB)A+A+
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J.D. Power Circle ratings are similar to star ratings across most agencies. Despite Geico’s and Safeco’s financial strength, their Power Circle ratings about average.

However, the companies’ NAIC complaint index is higher than the average complaints. Consumer Reports show a less-than-perfect score for both Geico and Safeco, which are in the late 80s.

Geico and Safeco are accredited companies under the Better Business Bureau (BBB) and carry an A+ rating — the best rating on BBB.

Geico vs. Safeco: What is their market share?

Geico’s market share is 13 percent, while Safeco has a market share of 5 percent. Market share is the percentage a company has in a particular industry. Both companies earn billions of dollars, but Geico appears to be growing at a much faster rate.

Check out coverage rates in your local area by entering your ZIP code in the FREE quote tool.

Geico vs. Safeco: Car Insurance Coverage and Options

Before you pay for a car insurance policy, become familiar with car insurance coverage options. Geico and Safeco are big companies with different car insurance options attached to liability, collision, and comprehensive coverage.

Geico vs. Safeco: What are their coverage options?

Here’s a list of car insurance coverages that are available at Geico and Safeco.

GEICO vs. Safeco Car Insurance Coverage Options
GEICO Car Insurance CoveragesSafeco Car Insurance Coverages
Bodily Injury LiabilityAccident Forgiveness
Property Damage LiabilityDiminishing Deductible
Medical Payments Coverage (MedPay)Comprehensive Coverage
Personal Injury Protection (PIP)Collision Coverage
Uninsured/Underinsured Motorist Coverage (UM/UIM)Roadside Assistance
Collision CoverageRental Car Reimbursement
Comprehensive CoverageBodily Injury Liability
Emergency Road ServiceProperty Damage Liability
Rental ReimbursementPersonal Injury Protection (PIP)
Mechanical Breakdown InsuranceMedical Payments (MedPay)
Uninsured and Underinsured Motorist (UM/UIM)
Emergency Assistance Package
Loan and Lease Coverage
Electronic Key and Lock Replacement
CD and DVD Replacement
New Car Replacement
Audio-Visual and Custom Equipment Coverage
Pet Coverage
Personal Property Coverage
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Although Safeco is smaller than Geico, they offer more coverage options. Safeco insurance reviews your needs and determines which coverages are best for you. However, don’t add on coverages that go over your budget.

Geico quotes are generally cheaper, but you should pay attention to how much you’re spending on auto insurance.

Usage-Based Insurance Programs

DriveEasy is Geico’s usage-based insurance that uses a smartphone app to monitor your driving behavior, such as speed and hard-braking. Safeco RightTrack, however, uses a smartphone app and a telematics device to monitor driving.

Telematics is a device that plugs in the OBD-port and connects to smartphone apps through a Bluetooth beacon installed into the device.

New vehicles have Bluetooth technology already installed, so all you would need is a smartphone. However, Geico and Safeco’s usage-based insurance programs aren’t available across the country. Ask your Geico or Safeco insurance agent if usage-based insurance is available in your home state.

Geico vs. Safeco: What discounts do they offer?

Discounts can save you hundreds of dollars per year if you qualify for more than one. Geico and Safeco provide discounts to all eligible customers. Here is a list of discounts from both companies.

GEICO vs. Safeco Car Insurance Discounts

GEICO DiscountsSafeco Discounts
Air BagBundle Insurance
Anti-Lock BrakesSafe Driver
Anti-Theft SystemAccident Prevention Course Discount
Daytime Running LightsTeen Safety
New Vehicle DiscountDrive Less. Pay Less.
Good DriverMultiple Vehicles
Seat Belt UseAnti-Theft Discount
Defensive DrivingAnti-Lock Brakes Discount
Driver's Educational CourseHomeowner Discount
Good Student
Emergency Deployment
Federal Employee (Eagle)
Membership & Employee
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Although Geico provides less car insurance coverages, they carry more discounts than Safeco.

See if you’re eligible for discounts through our FREE comaprison tool. Enter your ZIP code to start.

Geico vs. Safeco: Which company is the best?

We’re getting close to the end of this company review, so we’ll review Geico and Safeco’s best qualities.

GEICO is Best ForSafeco is Best For
Cheaper car insuranceMore coverage options
More options to save money through discountsSpecific rewards for teen drivers
Better financial ratingsCheaper than average in some states
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GEICO vs. Safeco Highlights

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Is Safeco cheaper than Geico? In some states, Safeco is cheaper than Geico. Overall, Geico has cheaper rates.

Is Safeco a reputable insurance company? Why is Safeco insurance so cheap in some states? It comes down to risk. When Safeco is less expensive than the national average in your state, it means the risk in that state is much lower. Therefore, prices will be lower.

Check out affordable car insurance quotes outside of Geico vs. Safeco car insurance by entering your ZIP code in the FREE online quote tool.

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