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MetLife Auto Insurance Review (With 2019 Rates)

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Summary: 

Founded in 1868, MetLife is headquartered in New York, New York.   The company had more than $62 billion in revenue in 2017. Furthermore, the company covers more than 100 million customers across more than 40 countries worldwide.  MetLife’s auto insurance rates are competitive with companies such as State Farm. However, the company has a low claims satisfaction rating and its auto insurance has no stand-out features that suggest that you should choose this company. It may be the most suited for those who already have other types of insurance with MetLife.

Pros of MetLife Auto Insurance

  • MetLife has a complaint ratio that is less than the national average for insurance companies its size according to the National Association of Insurance Commissioners.  
  • The company is rated an A by A. M. Best.
  • Rates are competitive with other large auto insurance companies.
  • The company offers a wide array of auto insurance coverage options.
  • Offers a significant number of discounts.
  • Rated an A+ by the Better Business Bureau.
  • Offers MyDirect, an online platform that enables you to handle your policy 100% online.
  • The company offers a number of other types of insurance including dental, disability, property, life, vision, and accident & health.

Cons of MetLife Auto Insurance

  • MetLife’s claims satisfaction rating is below the national industry average according to J.D. Power’s 2018 U.S. Auto Claims Satisfaction Study.
  • MetLife is near the bottom of the list of insurance companies on J.D. Power’s 2018 U.S. insurance Shopping Study.

MetLife is a well-known insurance company that may be best known for life insurance.  The company does offer auto insurance with a wide array of coverage options, some option you may not find at other large insurance companies.  Furthermore, the company offers MyDirect, an online platform where you can completely manage your auto insurance. The company’s rates are competitive with other reputable auto insurance companies of its size.  However, the company’s claims satisfaction and consumer shopping ratings are low. Thus, MetLife Auto Insurance may be best for consumers who already have another type of insurance policy with MetLife.

The Valuation Equation ($$$)

The cost of auto insurance is one of the primary things that a person may consider when trying to select an auto insurance company.  There are a number of factors that go into your car insurance premium price. These factors include the company’s base rate, your age, your location, your driving history, your vehicle, and your coverage options.

To get a quote from MetLife, you can go on its website.  It you would like to deal with an agent, the company provides the number you can call on the website as well.

>>MORE: The Pros and Cons of Buying Car Insurance from an Insurance Broker

Here is a glimpse of how MetLife compares with two other large insurance companies.

 MetLifeState FarmGeico
18-year-old, no accidents$6,434$5,820$3,508
30-year-old, no accidents$2,457$1,327$1,112
DUI/DWI$3,219$3,854$2,550
Drivers with 1 at-fault accident$2,598$2,849$1,857

Although MetLife’s rates are consistently higher than Geico, the company’s rates are lower than State Farm when the driver has a DUI or one at-fault accident.

>>MORE: Who has the Cheapest Car Insurance?

Discounts offered by MetLife Auto Insurance

MetLife offers similar discounts that other insurance companies offer:

  • Multi-policy Discount – You can save money on your auto insurance premium if you bundle it with homeowners insurance.
  • Defensive Driver Discounts – You can save money by taking a state approved defensive driver course.
  • Superior Driver – You can save more than 10% off of your premium if you do not get in any accidents and do not get any tickets in five years.  You also have to not have filed any claims in five years.
  • Good Student – Get a discount on your car insurance for having good grades.
  • Deductible Savings Benefit – You receive a $50 credit for each year that you do not make a claim toward your deductible payment. 
  • Vehicle Safety Devices – if your vehicle is equipped with safety equipment or an anti-theft device, you may receive a discount.
  • MyJourney Safe Driving Tracker – use the company’s app or in car plug in to save money on your auto insurance based on your driving habits.

MetLife will determine if you qualify for any of these discounts at the time when the policy is written.  Make sure to provide the company with all of the information that is relevant to the discounts. Also, be sure to ask if the company offers any more discounts that are not mentioned.  If you become eligible for any discounts after the policy is written, you want to contact your auto insurance agent so that the discount can be reflected in your policy premium.  Furthermore, you must remain eligible for all of the discounts that you receive throughout the life of the policy to guarantee that you will continue to receive the discounts.

Claims Satisfaction

An auto insurance company’s claims satisfaction rating is just as important as price when shopping for quality automobile insurance.  MetLife’s claims satisfaction rating is actually below the national average.

How easy is it to file a claim with MetLife?

  • File a claim by calling:  1-800-638-5000.
  • Contact your insurance agent to file a claim.

What is the average customer experience and satisfaction with MetLife?

Every year, J.D. Power surveys an estimated 10,0000 customers who have filed a claim in the last six months.  Insurance providers are then ranked on a 1000-point scale based on the results of the survey. MetLife falls below the industry average with a score of 854/1000.  The national industry average for auto insurance providers is 861/1000. In comparison, State Farm, the largest auto insurance provider in the country, scored above the national average with a score of 864/1000.  Geico, the second largest auto insurance company in the US, scored an 857/1000 which caused it to fall only a few spots below the national industry average.

Coverage Options

MetLife does not list the company’s coverage options on its website.  However, these are the coverage options that the company is believed to offer:

Thus, MetLife offers a wide variety of coverage options.  Some of the options that MetLife offers are not offered by a lot of large auto insurance companies.  These coverage options include Legal Fees and Rental Car Insurance.

Other Insurance

MetLife offers several other insurance types in addition to auto insurance.  The company also offers property insurance. The types of property insurance that the company offers includes home insurance, condo insurance, mobile home insurance, renters insurance and landlord insurance.  Furthermore, the company offers dental insurance. Moreover, MetLife offers several types of life insurance which include term life insurance, whole life insurance, and universal life insurance. The company offers disability insurance as well.  You can also obtain vision and accident and health insurance through the insurance company. MetLife also offers benefits and solutions for small and mid-sized businesses.  

Website Experience

MetLife offers a decent website experience if you can get to the website.  If you simply type “MetLife” into the google search bar, you do not get to the website.  The MetLife ad at the top of the page takes you nowhere. Furthermore, the MetLife website is not listed in the search results.  However, you can get to the website homepage by typing in www.MetLife.com.  

When you get to the website, you can find out about the types of insurance that MetLife offers.  The types of coverage that the company offers are not listed on the website. The discounts are not shown on the site either.  You can, however, get a quote. You can also set up and log in to your account to manage your policy. The company does not allow you to do much via the internet using this platform.  You cannot file a claim on the website; instead you can find a phone number to call on the site.

The company does offer the MyDirect platform which allows users to do everything online from getting a quote, to purchasing insurance, paying your bill and more.  In fact, the company actually discounts your auto insurance for using this platform to manage your policy. You can get to the MyDirect platform here: https://mydirect.metlife.com/index.html#/

The Bottom Line

  • MetLife is a well-known insurance company that is most popular for life insurance; however, the company does offer auto insurance.  The only problem is that there is no reason to obtain auto insurance from this company unless you already have life insurance or another type of policy through the company.
  • MetLife scores below average in both claim satisfaction and consumer satisfaction with insurance shopping according to two J.D. Power studies.  
  • MetLife’s auto insurance rates are good compared to other insurance companies of its size.  Although it is not the cheapest, it is not one of the most expensive auto insurance companies either.
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