Safeco Corp - Statement of Changes in Beneficial Ownership (4)

FORM 4 [ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * RINEHART CHARLES R	2. Issuer Name and Ticker or Trading Symbol SAFECO CORP [ SAF ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director                      _____ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) SAFECO PLAZA	3. Date of Earliest Transaction (MM/DD/YYYY) 9/22/2008
(Street) SEATTLE, WA 98185 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Rights   (1)	(2)	9/22/2008		D			1825	5/7/2008	9/22/2008	Common Stock	1825	(3)	0	D
Phantom Stock Units	(4)	9/23/2008		D			98.375	(5)	(6)	Common Stock	98.375	$43.20	0	D

Explanation of Responses:
( 1)	Grant of Restricted Stock Rights (RSRs) exempt under 16b-3. RSRs represent the right to receive shares equal to the value thereof, provided the Reporting Person remains in Safeco Corporation's service until specified vesting dates.
( 2)	RSRs are convertible into common stock on a 1 for 1 basis.
( 3)	Pursuant to a merger agreement between Safeco Corporation and Liberty Mutual and upon the effective date of the merger, the Reporting Person received $68.25 per share for the number of RSRs held, minus any applicable tax withholding.
( 4)	These Phantom Stock Units may be converted to shares of Safeco stock as follows: The number of Phantom Stock Units acquired multiplied by the price of Phantom Stock Units on the transaction date divided by the closing price of Safeco stock on the transaction date.
( 5)	Immediately.
( 6)	These Phantom Stock Units were reallocated to another investment option pursuant to the terms of the Safeco Deferred Compensation Plan for Directors and the merger agreement referenced above.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
RINEHART CHARLES R SAFECO PLAZA SEATTLE, WA 98185	X

Signatures
Karri J. Harrington, Attorney-in-Fact for Charles R. Rinehart		9/24/2008
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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