GEICO vs. Safeco Car Insurance 
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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UPDATED: Dec 1, 2020
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|Summary||Geico Stats||Safeco Stats|
|Headquarters||5260 Western Avenue|
Chevy Chase, MD 20815
|175 Berkeley Street
Boston, MA 02116
|Availability||All States||All States|
|Direct Premium Written||$6.3 billion||$3.2 billion|
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.
|States||GEICO Average Annual Rates||Safeco Average Annual Rates|
|Virginia||$2,062||Data Not Available|
|Arizona||$2,265||Data Not Available|
|South Carolina||$3,178||Data Not Available|
|Texas||$3,263||Data Not Available|
|Arkansas||$3,485||Data Not Available|
|District of Columbia||$3,693||Data Not Available|
|New Mexico||$4,458||Data Not Available|
|Louisiana||$6,155||Data Not Available|
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.
|Driving Violation||GEICO Average Annual Rates with One Speeding Ticket||Safeco Average Annual Rates with One Speeding Ticket|
|One speeding ticket||$1,395||$2,512|
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.
|Driving Violation||GEICO Average Annual Rates with One Accident||Safeco Average Annual Rates with One Accident|
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.
|Driving Violation||GEICO Average Annual Rates with One DUI/DWI||Safeco Average Annual Rates with One DUI/DWI|
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.
|Driver Age, Gender, and Marital Status||GEICO 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|
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.
|Companies||Average Annual Rates with Good Credit||Average Annual Rats with Fair Coverage||Average Annual Rates with Poor Credit|
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.
|Companies||Average Annual Rates for|
10 Miles Commute
6,000 Annual Mileage
|Average Annual Rates for
25 Miles Commute
12,000 Annual Mileage
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.
|Car Make and Model||GEICO Average Annual Rates||Safeco 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|
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.
|Companies||Average Annual Rates with Low Coverage||Average Annual Rates with Medium Coverage||Average Annual Rates with High Coverage|
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.
|Financial Strength Ratings Agencies||GEICO Financial Strength Ratings||Safeco Financial Strength Rating|
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.
|Customer Satisfaction Ratings Agencies||GEICO's Customer Satisfaction Ratings||Safeco's Customer Satisfaction Ratings|
|J.D Power Circle Ratings||3 out of 5||3 out of 5|
|NAIC Claim Index||1.47||2.31|
|Consumer Reports Reader Score||89||88|
|Better Business Bureau (BBB)||A+||A+|
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 Car Insurance Coverages||Safeco Car Insurance Coverages|
|Bodily Injury Liability||Accident Forgiveness|
|Property Damage Liability||Diminishing Deductible|
|Medical Payments Coverage (MedPay)||Comprehensive Coverage|
|Personal Injury Protection (PIP)||Collision Coverage|
|Uninsured/Underinsured Motorist Coverage (UM/UIM)||Roadside Assistance|
|Collision Coverage||Rental Car Reimbursement|
|Comprehensive Coverage||Bodily Injury Liability|
|Emergency Road Service||Property Damage Liability|
|Rental Reimbursement||Personal Injury Protection (PIP)|
|Mechanical Breakdown Insurance||Medical 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|
|Personal Property Coverage|
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 Discounts||Safeco Discounts|
|Air Bag||Bundle Insurance|
|Anti-Lock Brakes||Safe Driver|
|Anti-Theft System||Accident Prevention Course Discount|
|Daytime Running Lights||Teen Safety|
|New Vehicle Discount||Drive Less. Pay Less.|
|Good Driver||Multiple Vehicles|
|Seat Belt Use||Anti-Theft Discount|
|Defensive Driving||Anti-Lock Brakes Discount|
|Driver's Educational Course||Homeowner Discount|
|Federal Employee (Eagle)|
|Membership & Employee|
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 For||Safeco is Best For|
|Cheaper car insurance||More coverage options|
|More options to save money through discounts||Specific rewards for teen drivers|
|Better financial ratings||Cheaper than average in some states|
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.