Safeco is so expensive because of limited discount options and rising costs overall for insurance companies. At $1,006 per year, the average Safeco car insurance policy is more expensive than the national average of $720 for a policy with minimum coverage.
Safeco insurance is even more expensive for drivers with certain characteristics, including young drivers and drivers who have recently caused an accident. For example, teenagers pay an average of $2,432 for Safeco insurance, compared to $1,001 for older drivers. Additionally, drivers who have recently had an at-fault accident pay an average of $1,420 for Safeco coverage, which is 41% more than drivers with a clean record.
Factors That Can Make Safeco Insurance More Expensive
- Being a young or inexperienced driver
- Purchasing a full coverage policy versus minimum coverage
- Causing an accident or being convicted of a moving violation
- Living in a high-risk ZIP code
- Driving an expensive vehicle
- Having a poor credit-based insurance score
If you’re struggling to afford your Safeco policy, there are ways for you to lower your rate. For example, you can take advantage of Safeco discounts or reduce your coverage. In some cases, it might be better to switch insurers altogether. It’s usually a good idea to compare quotes from at least three different insurers to see if you can find a better deal elsewhere. Each insurer uses its own algorithm to calculate premiums, so even if Safeco is charging you a high premium, you may be able to find a cheaper policy with another insurer.
To learn more, check out WalletHub’s Safeco insurance review.
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