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As the 14th largest car insurance company in the country, there is a lot to be learned about the intricacies of MetLife. We’ve gathered customer reviews and analyzed industry rankings, average annual premiums, and more to give you the insider view into its car insurance coverage. Because we are not affiliated with MetLife in any way, you can be confident that this review is based solely on facts.
What can we help you find?
- The Benefits And Cons of MetLife Auto Insurance
- If MetLife Offers Coverage Near You
- Costs and Discounts
- How It Ranks In The Industry
- Customer Reviews
- Our Recommendation For You
What are the benefits?
- Savings. MetLife claims customers save $500 a year on average, with their auto insurance policies. While your rates will differ, it gives you an idea of what your savings may amount to.
- Quick and hassle-free claims payouts. MetLife’s Choice Program allows customers to choose where they would like any repairs to be handled—without fear of out-of-network consequences. If you do opt to use a MetLife Insurance suggested facility, its CARE program includes a concierge service to help you get back on the road.
- Flexible payment options. MetLife has easy payment options like payroll deductions so paying your insurance premium works better with your needs.
What are the cons?
- Poor customer ratings. According to JD Power, MetLife ranks below average on its customer experience.
- Rate Hikes. Your rates are likely to go up if you file an insurance claim.
- Deductible Reimbursement. Even if you’re not at fault, you’ll have to pay your deductible and wait to be reimbursed until MetLife receives payment from the other driver. This isn’t unique to MetLife, but it’s something to be aware of.
- Dull Mobile Capabilities. While MetLife does offer an app for iPhone and Android devices, the customer reviews have come in less than positive. Scoring only 1.5 stars in iTunes, the apps fails to provide basic consumer needs.
Our assessment concluded that while there are aspects of MetLife that could be improved, its drawbacks aren’t shortcoming unique only to it. A number of other auto insurance companies have these pitfalls as well.
Where MetLife auto insurance is available?
Drivers across the country, excluding Washington D.C.., have the option of choosing MetLife as their auto insurance provider. See how it ranks in your state.
Most Popular States For MetLife Auto Insurance
All companies have part of the “market share”—or the percentage of a population that are their customers. This number shows how a company is doing compared to others in the same industry, and in the same state. Out of the top 10 companies in every state, MetLife ranked in six. Our research shows it sells the most policies–by shear volume in Massachusetts–but has it’s highest market share in Rhode Island. Here are the six states MetLife was in the top 10 for based on policies sold in 2014.
| State Rank | New Policies Written | Market Share | ||
|---|---|---|---|---|
| Rhode Island | 5 | 64,094 | 8.44% | |
| Massachusetts | 7 | 203,981 | 4.55% | |
| Maine | 8 | 23,524 | 3.71% | |
| New Hamshire | 9 | 23,592 | 3.21% | |
| Connecticut | 10 | 103,528 | 3.98% | |
| Illinois | 10 | 108,474 | 1.72% |
How to get MetLife auto insurance quotes and discounts
We gathered rates from each state to analyze how MetLife’s annual rates compared to other popular insurance companies. Our research indicates that regardless of age and sex, MetLife is a typically a more expensive option.
| 18 Year Old Men and Women | 25 Year Old Men and Women | Drivers Over 50 | |
|---|---|---|---|
| AMERICAN FAMILY | $2,485.11 | $752.50 | $1,186.39 |
| ERIE | $2,224.28 | $556.08 | $1,494.50 |
| MERCURY | $4,099.50 | N/A | $1,264.40 |
| METLIFE | $2,407.94 | $1,149.05 | $2,069.43 |
| TRAVELERS | $3,665.66 | $983.44 | $1,113.07 |
MetLife’s Average Annual Premiums by Driver Profile
MetLife provides drivers with different quotes depending on their driver profiles and how much risk is associated with writing each customer a policy. To show you how much you may pay based solely on one factor affecting your premium, we analyzed rates for drivers differing in age, sex, and marital status. Our research found that MetLife provides cheaper quotes for drivers over 50. Drivers in their 20’s see the highest rates, but this is due to rates for drivers age 21 being $4,064.44. Typically when you turn 25, you see a big drop in premiums.
| Average Annual Rates | |
|---|---|
| Teens | $1,785.58 |
| Drivers in their 20's | $2,224.87 |
| Drivers in their 30's | $1,133.04 |
| Drivers Over 50 | $691.46 |
| Single Drivers | $2,197.05 |
| Married Drivers | $1,873.09 |
* These are real numbers from 2014 and 2015 data, but are subject to change in the coming months or years. They are only here to show you how companies stack up against each other. Because rates differ by state, we recommend looking at how MetLife compares near you.
MetLife Discounts
There is no doubt that price is often a deciding factor when choosing a car insurance company. Here are MetLife auto insurance discounts that can help you save on your policy. See if you qualify for the following:
- Multi-Policy Discount: up to 10% off
- A Deductible Savings BenefitSM: up to $50 off your deductible every year you don’t make a claim, with a max of $250
- Defensive Driving: up to 7% off if you complete a course
- Clean Driving Record: up to 12% if all drivers on your policy have clean driving records
- MetRewards Program: up to 20% if you’re claim and incident free for five years
- Good Student: up to 15% off
See the full list of discounts available.
What are MetLife insurance industry rankings?
Industry standings are a reliable way to gauge how an insurance company is doing financially and in customer satisfaction. Here’s how MetLife performed based on insight from reputable independent consumer research groups.
Standard & Poor’s: MetLife was give a “very strong” score of AA- for it’s financial strength. That means they’ll have the capital to back your claims.
A.M. Best Company: MetLife Insurance Company USA received an A+ which is equivalent to a “superior” score.
Fitch Ratings: MetLife scored an AA- from this study—meaning they are “very strong” financially.
Moody’s Investors Service: MetLife received an Aa3—a score 4th from the best that means they are “high quality.”
Fortune Magazine: MetLife ranked #1 in Fortune magazine’s 2015 “World’s Most Admired Companies” category.
JD Power: By gathering and analyzing consumer insights, JD Power works to improve customer allegiance, retention, and growth for insurance companies. In its 2015 studies, MetLife scored:
Source: www.jdpower.com
Source: www.jdpower.com
What real customers think
“MetLife is easy to deal with and get a hold of.” –Randie
Our two-cents
We want you to call the shots when it comes to your auto policy. We’re purely here to help analyze the facts, so that you are armed with the information needed to make an informed decision. Here is what we’ve found:
MetLife is best for experienced drivers in the northwest.
MetLife’s prices are higher than most insurance companies, but auto insurance rates do drop for drivers over 50. It also has retirement and financial planning services you can look into—so you don’t have to use different companies for every need. With the majority of its most popular states being located in the Northwest—minus Illinois—it lends us to believe its auto insurance is targeted to drivers in that region.
About MetLife
MetLife® has been in business for 140 years and has become an international leader in insurance, annuities, and employee benefit plans.
Want to compare other companies?
Take a look at other top car insurance companies so you know all the facts before buying an auto insurance policy.