Equity vs. Safe Auto: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Equity offers significantly cheaper premiums than Safe Auto
• Equity offers more affordable prices for drivers who have less-than-stellar credit
• Safe Auto offers more discounts than Equity Insurance Company

Equity vs. Safe Auto: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You might have narrowed it down to Equity or Safe Auto for your next policy, but which carrier will save you the most?

Looking at nationwide averages, Equity is quite a bit cheaper than Safe Auto, with rates averaging $165 per month compared to $223 with Safe Auto.

That being said, that doesn't mean Equity will necessarily be more affordable than Safe Auto for every single driver. Car insurance companies use tons of complex algorithms to calculate premiums, so depending on where you live or how clean your driving record is (among a whole bunch of other factors), you could see wildly different prices from the ones above.

So, if you want to find out which of Equity or Safe Auto is really the best for you, keep reading to see average rates for each company broken down by multiple different rate factors.

Equity or Safe Auto: Average Car Insurance Rates by State

Equity and Safe Auto only compete against each other in one states, with Equity offering less expensive prices to the average driver in all of them. Oklahoma has the most noticable difference, where Equity premiums are over 40% cheaper than auto insurance rates at Safe Auto.

There's a lot more that goes into your insurance cost than just your home state. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance premiums of any other group of drivers. Typically, that's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Equity save nearly $90 a month compared to those who use Safe Auto. It's worth noting that Safe Auto offers insurance in 13 different states compared to Equity's two, which can skew the average rates a bit, but the difference here is still considerable.

Even so, both carriers will offer you dramatically lower premiums once you turn 25. For example, average prices for Equity policyholders decrease more than $200 and Safe Auto's rates drop almost $250 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the lowest auto insurance premiums out there. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for car insurance.

But who has the best rates for retired drivers between Equity and Safe Auto? Equity gets the edge here, with average prices coming in at about $128 per month compared to Safe Auto's $179.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are usually more expensive for single drivers than they are for married couples? This usually boils down to married policyholders having more than one car on their policy -- something quite a few insurance companies will reward with discounts.

When it comes to relationship status, Equity is the clear winner for single policyholders, with prices around $65 per month less expensive than Safe Auto, on average. The advantage for married drivers with Equity is also obvious, where drivers save nearly 30% a month.

Equity vs. Safe Auto: Average Rates by Gender

Did you know women tend to pay less for car insurance than men? This is because women are less likely to get speeding tickets and get into collisions, which decreases the chances of an insurance claim.

With Equity, men generally pay about $20 per month more than women, while with Safe Auto, the difference is closer to $17 a month.

When it comes to the most affordable premiums for each gender, Equity comes out on top for both men and women, with average rates 24% less for men and 28% cheaper for women.

Equity or Safe Auto: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, auto insurance can be pretty complicated. There are several different coverages that account for a bunch of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

However, most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability).

If you're looking for state minimum liability limits, Equity normally offers significantly more affordable prices of $67 compared to Safe Auto's $126. When it comes to full coverage policies with similar limits, Equity again has the edge, with policies around $60 per month less expensive than Safe Auto, on average.

Is Equity or Safe Auto Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

Accidents and tickets will most likely raise your premiums, but is Equity or Safe Auto more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Equity policyholders can expect their rates to go up an average of $6 a month if they get a ticket, while Safe Auto typically raises premiums about $40 per month, on average.

But Equity is generally the cheaper option for drivers both with a speeding ticket and with a clean record, offering prices that are 14% and 27% less expensive, respectively, compared to Safe Auto.

Which Company is Best for Drivers After an Accident?

Equity drivers who get in an accident can expect to see their rates increase by $25, while those who have insurance through Safe Auto will see around a $65 increase.

Overall, drivers who use Equity end up with the cheaper prices after an accident, with monthly prices averaging $179 compared to Safe Auto's $246.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your car insurance bill. On average, Safe Auto will increase your rates about 27% after a DUI, while Equity's average premiums rise by 7%.

Equity has the overall cheapest rates for drivers with a DUI on their records at $166 monthly, but it's worth noting that Safe Auto's average rates come from 13 states compared to just two for Equity, so the data may be skewed slightly.

How does Credit Score Impact Equity and Safe Auto Rates?

Did you know that many auto insurance carriers take into account your credit score when calculating premiums? Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for lots of policyholders.

The reasoning insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so usually, they'll be asked to pay more, while those with good credit will be rewarded with more affordable prices.

So, which carrier offers the lowest rates for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Equity. Drivers with "excellent" credit can save over 10% compared to Safe Auto, and those with "good" scores can also expect to see savings -- around $57 or 26% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Equity typically offers lower premiums than Safe Auto when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about $65 a month less with Equity compared to Safe Auto, and those with "poor" scores typically save an average of around $87 a month.

Is Equity or Safe Auto Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a pretty big impact on your monthly prices? Generally, the more miles you drive, the more you can expect to pay for coverage.

In this case, neither Equity or Safe Auto report increasing rates for drivers with higher annual mileage figures. Still, Equity comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car annually, with average premiums of $165 per month for both.

Equity vs. Safe Auto: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a big impact on your monthly car insurance bill. Normally, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers due to the small number of vehicles that are on the roads in those areas.

When comparing these two companies side-by-side, Equity usually comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Policyholders in rural ZIP codes see the most affordable prices from both carriers, but Equity comes out on top with average rates about $143 per month. Equity also has more affordable average prices for drivers in urban and suburban ZIP codes -- a 29% and 21% a month respective difference when compared to Safe Auto policyholders in similar areas.

Equity vs. Safe Auto Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many auto insurance discounts as you can.

The hard part is finding all of the discounts you're eligible for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Below, we've taken a look at all of the different discounts Equity and Safe Auto offer their customers so that you can find the one that has the most discounts and, therefore, the biggest savings.

Looking at the total number of discounts, Safe Auto comes out ahead with 14 discounts to Equity's 10.

There are a couple discounts both companies offer, but Safe Auto also offers anti-theft discounts, claim free discounts, military discounts, and more that Equity does not.

On the flip side, Equity has a couple unique discounts of its own -- education discounts, discounts for being a good student, and group discounts.

Final Thoughts: Is Equity or Safe Auto Best for You?

So, we've broken down the average premiums for many of the factors insurance carriers look at, and walked through the different discounts each carrier offers, too. That's all well and good, but at the end of the day, which insurance company is the best company for you and your specific driver profile?

Equity might be best for you if....

• You have an at-fault collision on your record.
• You're looking for more protection with "full coverage" auto insurance.
• You've started working from home and don't have much of a commute.

Safe Auto might be best for you if...

• You value the experience that comes with a large national car insurance carrier.
• You care about discounts (Safe Auto offers the most).

We hope this guide helps you get a better idea of the difference between Equity and Safe Auto and that it aids in making a more informed decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Equity and Safe Auto. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance carriers in your area, all in just a few minutes.

Equity vs. Safe Auto FAQs

Is Equity or Safe Auto cheaper?

Looking just at the national average rates, Equity is the less expensive of the two companies, offering average rates of $165 per month compared to $223 for Safe Auto. Even so, Equity won't necessarily be the lowest company for everyone, since there are a variety of different variables that come into play when it comes to your auto insurance payment.

Who is better, Equity or Safe Auto?

Unfortunately, the only answer we can give you is "it depends.". No one carrier is necessarily "better" for every driver -- it all boils down to your unique insurance profile.

Why do Equity and Safe Auto offer me different rates?

Car insurance carriers take a look at many different factors when determining the premiums they charge drivers. Things such as where you park your car, age, where you live, gender, and sometimes even things like your credit score can all come into play. Both Equity and Safe Auto use different formulas, so each one will most likely offer different prices. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a range of different companies.

How do I know if Equity or Safe Auto is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your information once and you'll get free quotes from dozens of the best car insurance companies in your area. With those, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Equity or Safe Auto at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.