The Manual on Uniform Traffic Control Devices contains warrants for traffic signal installation but cautions that satisfying a warrant does not in itself justify the decision to install a signal and that one should not be installed unless an engineering study indicates that this will improve the overall safety or operation of the intersection. The development of an easily implementable procedure, which is intended to be part of an engineering study, for estimation of the expected safety effects of a contemplated signal installation is reported. These effects can then be considered in conjunction with other impacts in a conventional economic evaluation. The development of the procedure by use of a multijurisdiction database is described, and a detailed illustration is presented. Use is made of the empirical Bayes methodology that of late has been recognized as the state of the art in safety estimation and of the most recent advances in that methodology. Substantial focus is placed on the application of that methodology and on the development of the accident prediction models required to support that application. The development of the procedure is part of an NCHRP project (NCHRP 17-16) that aims to improve the safety warrant for signal installation and, more generally, to determine how safety is considered in the decision to install or not install a signal.