Why Did My Safeco Car Insurance Rate Go Up?
Your Safeco car insurance rate might have gone up due to a recent violation or claim, but it could also be due to inflation.
Written by R.E. Fulton
Edited by Kathleen Flear
Your recent
Safeco car insurance
rate increase could be due to a recent accident or violation or changes to your coverage. But if those factors don’t apply, your rate probably went up due to inflation. - Inflation, policy changes, and recent claims or accidents are the most common reasons that Safeco car insurance rates go up.
- All car insurance companies review your policy before renewal and can raise rates based on a number of factors.
- Researching discounts, enrolling in telematics, and comparing car insurance quotes can help you avoid—or reverse—a Safeco rate increase.
- Inflation, policy changes, and recent claims or accidents are the most common reasons that Safecocar insurance ratesgo up.
- All car insurance companies review your policy before renewal and can raise rates based on a number of factors.
- Researching discounts, enrolling in telematics, and comparing car insurance quotes can help you avoid—or reverse—a Safeco rate increase.
Top reasons why Safeco raises car insurance rates
- You made changes to your policy, such as adjusting coverage or adding a driver or vehicle
- You moved to an area with higher risk factors
Even if none of the factors above apply to you, you might still see a rate increase due to inflation, which is
hitting the insurance industry hard in 2023
. Factor | Why it could raise your rate | Average increase |
|---|---|---|
Change in credit score | Studies have shown that drivers with poor credit have a higher rate of insurance claims, so insurers see them as more expensive customers. | 44% to 115% |
Coverage changes | Your insurance premium depends on how much coverage you’re paying for, along with your chosen deductibles | Varies depending on coverage |
Discount eligibility | Safeco offers insurance discounts based on your vehicle and driving record. If those change, you could lose your discount | Varies |
Inflation | Rising car repair and healthcare costs are increasing the size of insurance claims, raising premiums in turn. | 26% since 2021 |
New vehicle | Your insurance rate is based on your vehicle’s actual cash value (ACV). New vehicles, sports cars, and luxury cars cost more to insure. | 3% for every model year |
New driver | Your insurer will look at the driving records of everyone on your policy to calculate your rate. | Varies depending on driving history |
New ZIP code | Your insurance rate is based partly on risk factors in your ZIP code, such as crash rates and crime statistics. When you move, your rate can go up. | Varies depending on location |
Recent claims | At-fault accident claims can raise your rates because your insurer deems you a higher risk. | 48% |
Recent violations | Violations on your driving record can raise your rate because you represent a higher risk to your insurer. | 24% to 81% |
How to lower your Safeco auto insurance rate
No matter why your Safeco insurance rate went up, there are ways to lower it again. Follow the tips below to find a rate you can live with:
- Research discounts: Safeco offers awide range of auto insurance discounts, but they’re not all advertised clearly. Call your Safeco agent and ask about discounts you may be eligible for, such as asafe driver discountor agood student discount.
- Enroll in RightTrack: Safeco’s safe driving telematics program can lower your car insurance premium by up to 30%.
- Adjust your coverage:Dropping full coverageor key add-ons like roadside assistance might not be wise, but you could save by raising your deductible or removing nice-but-nonessential coverage like rental car reimbursement.
- Consider switching insurers: Use theJerryapp to quickly compare your Safeco rate withfree quotesfrom dozens of other car insurance companies. If you find a lower rate in the app, switching is easy!
Are you overpaying for car insurance?
Compare quotes and find out in 45 seconds.
4.7You might also be interested
