Having a history in your company that dates all the way back to America’s Civil War, means this company knows how to stand the test of time.
MetLife has been around forever, since 1863 to be specific as the National Union Life and Limb Insurance Company. They insured Union soldiers against disability and injury during the Civil War. One hundred years later it changed its name to Metropolitan Life Insurance Company in 1968. They specialized in life insurance parties sold at places of business and have hung on over the years. In 1987 they started using Snoopy in their advertising and used the Peanuts gang over the years and even got exclusive rights to the Peanuts characters in 2002. In 2015 they were ranked 14th largest auto insurance provider in the US.
Pros and Cons
- MyDirect is a self-service program that allows potential clients to get quotes, purchase insurance, and manage their policy online in some states.
- Hundreds of groups, associations, and organizations are eligible for discounts.
- MetLife includes several extras as part of their basic services.
- MyDirect isn't supported in every state and MetLife's online quote system is not user-friendly.
- Few opportunities for savings.
- Customer service is not their strong suit.
MetLife Insurance Coverage
MetLife doesn't have a lot of bells and whistles, and in some regards, automotive insurance feels like an afterthought to the company. According to research, they do have some competitive rates, but they don't have a lot of add-ons, and the basic coverage is fairly standard for any auto insurance company. Here are their offerings for their optional coverage.
- Rental Reimbursement MetLife will recompense a portion of the cost for a rental vehicle. This is offered for policy holders with collision or higher coverage.
- Towing covers a portion of the towing cost. It is required with comprehensive coverage.
- Collision Deductible Waiver will waive your deductible for accidents where policyholder wasn't at fault. The policy must be collision coverage or higher to get the option.
- Custom Sound Equipment insures covered vehicles permanent sound system and policy holder can set their own level of coverage.
- Uninsured Motorist Property Damage this add-on applies in the event of a hit and run or a collision with an uninsured motorist.
- Rental Car Coverage covers damages incurred while driving a rental vehicle
- New Car Replacement covers replacement cost of a vehicle if it is under one year old and under 15,000 miles
- Major Parts Replacement in the event of an accident this add-on will cover the replacement of tires, brakes, and battery without factoring depreciation.
- Lease/Loan GAP Coverage this option will pay the policy holder the difference between the actual cash value of the vehicle and the remainder on the vehicles lease or loan.
These features may not be available in all states. MetLife offers similar basics as most other auto insurers but specific coverage may vary from state to state and from policy to policy. Below is a list of the basic services MetLife provides for their customers.
Standard Insurance Coverage
- Bodily Damage
- Property Damage
- Uninsured Motorist
- Medical Payments
- Identity Protection
Car Insurance Rates
There is an expectation that MetLife would be more expensive due to few discounts available but it seems that the group discounts are hefty. MetLife isn't the cheapest but it is far from the most expensive. A six-month rate for minimum coverage at MetLife was quoted for $486. Allstate went for $695 for the same coverage. Progressive quoted $462 for the same coverage. MetLife was still below the national average ($120) for basic coverage at $81/month. Now te price between minimum coverage and full coverage for MetLife rose significantly to $1,224 and if that same individual got into an accident it rose to $1,980 or $330/month.
|$248 / month
|$158 / month
|$76 / month
|45-Year-Old with a Speeding Ticket
|45-Year-Old with a DUI
|$480 / month
|$73 / month
|$87 / month
Car Insurance Discounts
- Deductible Savings for each year without an accident, policy holders will get a $50 credit towards their deductible up to $250.
- Good Driver Discount also called MetRewards, this discount may be available for those with good driving records.
- Defensive Driver Discount for taking an approved defensive driving course.
- Multi-Policy Discount for policy holders with more than one policy with MetLife
- Good Student Discount save up to 15% for good grades.
- Group Discount offers savings to hundreds of groups, organizations, and associations.
MetLife Insurance Vs. Competitors
MetLife is mostly a life insurance company that seems implicit in how they how they handle the auto insurance. It's a product and they want it to grow like any other but it doesn't seem like their priority. This isn't in the literature or the research but in the way they seem to conduct their business with their automotive product line. Their offerings seem lackluster, the discounts like an afterthought. The group discount is a factor in their corporate identity as a life insurance agency so it doesn't come off as anything more than branded content. That was just the feeling I had as I wrote the review and it is only the opinion of this reviewer. The research didn't point at anything specifically wrong with how MetLife conducts their business, and in many cases, they may be a good fit for those looking for a one stop shop for all their insurance needs. Below I will compare and contrast three competitors to MetLife's automobile insurance.
MetLife Auto Insurance Vs Progressive: The rates for progressive are significantly lower in most cases compared to MetLife. Across the board Progressive has a lower rate and they seem particularly hard on drivers with speeding tickets for the same level of service. For example, in LA Progressive charges a driver with one speeding ticket $84/month for the same policy MetLife charges $376/month. In every other area they fall fairly close together Progressive has better discounts and offers insurance for SR-22, MetLife does not. Even in terms of customer service they fairly evenly matched. I think MetLife rates might be a little prohibitive comparatively for some especially if you don't have a pristine driving record where progressive seems a little more forgiving.
MetLife Auto Insurance Vs Allstate: These are fairly evenly matched in almost all categories. Allstate is definitely more expensive but MetLife is still harsher to the fellow with the speeding ticket in Los Angeles. Allstate has more discounts and add-on options than MetLife. Their customer service acumen is fairly equal. What this really comes down to is price MetLife is cheaper in almost all cases so long as you aren't a speed demon in LA. However, if you are looking for better customization with your insurance, Allstate would be the better option.
MetLife Auto Insurance Vs Travelers: Again, fairly evenly matched in most categories, they both have multiple product lines and bundling options. In most cases Travelers is cheaper than MetLife. MetLife has more discounts available and they have slightly better customer service. This match up largely comes down to price because they both offer small tings that the other doesn't but not enough that there is a clear edge in either direction so it falls to price as it often does. Travelers is cheaper in this case so take a look and be sure to do research because those small thing's may be exactly the features needed for individual buyers.