Overview of MetLife Car Insurance
Thanks to the advertising genius of Snoopy and friends, you may already be aware that MetLife is the nation’s largest life insurance provider. But the company also sells a lot of auto insurance, along with dental, home, disability, vision, accident and health insurance. MetLife ranks in the top 15 largest auto insurers in the US, with a market share of about 1.2 percent.
How Does MetLife Car Insurance Rate?
Consumer Satisfaction Rating
These ratings are from the J.D. Power 2015 U.S. Auto Insurance Claims Satisfaction Study. The highest score for each category is five stars. The MetLife Insurance Company subsidiary rated here may not be the subsidiary that underwrites your insurance policy. Check with your insurance agent for more information.
Customer Complaint Ratio
The National Association of Insurance Commissioners (NAIC) collects complaint information from state insurance regulators. The national median complaint ratio is 1. A score of less than 1 means a company has a lower than average number of complaints, while a score higher than 1 means it has more than average. The MetLife Insurance Company subsidiary rated here may not be the subsidiary that underwrites your insurance policy. Check with your insurance agent for more information.
Last Updated: September 2016
Financial Strength Rating
A Best’s Financial Strength Rating opinion addresses the relative ability of an insurer to meet its ongoing insurance obligations. It is not a warranty of a company’s financial strength and ability to meet its obligations to policyholders. View our Important Notice: Best’s Credit Ratings for a disclaimer notice and complete details at http://www.ambest.com/ratings/notice.
Financial Strength is rated on a scale of D (poor) to A+ (superior). A rating notch of either a second “+” or a “-“ indicates the gradation of financial strength within the category. We can’t guarantee that the subsidiary of MetLife Insurance rated here is the subsidiary that will underwrite your insurance policy. Check with your insurance agent and review A.M. Best’s Financial Strength Rating Guide for more information.
Best’s Credit Ratings™ are under continuous review and subject to change and/or affirmation. For the latest Best’s Credit Ratings™ and Best’s Credit Reports which include Best’s Credit Ratings™), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Credit Ratings™ for explanation of use and charges.
Best’s Credit Ratings™ reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of MoneyGeek.com or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Credit Ratings™. Best’s Credit Ratings™ are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.
Source A.M. Best
Effective Date: October 2016
Pros and Cons of MetLife Car Insurance
- MyDirect – a completely digital, self-service experience – allows you to get quotes, purchase insurance and manage your policy online in some states.
- The group discount program offers premium discounts to members of hundreds of groups, associations and organizations.
- Unlike many insurers, MetLife includes several extras at no cost, such as expanded coverage when you rent a car and identity theft protection.
- If you’re in a state that doesn’t support MetLife’s MyDirect online platform, the online quoting system is one of the least user-friendly of any auto insurance company.
- Other than group discounts and standard bundling discounts, there aren’t a lot of opportunities for savings.
- MetLife scored lower than average in overall customer satisfaction on the J.D. Power 2015 claims satisfaction study.
MetLife Car Insurance Coverage
As one of the country’s top 20 auto insurers, MetLife is solid and dependable. They have a good range of coverage and offer some nice extras. But this isn’t a discount insurance provider. When you get MetLife auto insurance, you pay for, and expect to receive, a good product and good service.
MetLife’s standard coverage is offered at a wide range of levels, so you can customize your policy to suit your own budget and preferences. The online quote tool lists the cost of each increasing level so you can compare them right on the spot, instead of waiting for the system to compute a total. For example, in one hypothetical situation, you can see that increasing your property damage liability coverage from $25,000 to $50,000 will increase your premium by just $1.
MetLife’s auto policies let you mix and match the per person and the per incident coverage limits more than some other companies do, allowing, for example, a $300,000/$300,000 (combined single limit) coverage.
The combined single limit coverage option applies to property damage coverage as well, or you can choose from a nice range of coverage levels not linked to the BI coverage.
This coverage is optional. If included, it must be equal to or less than the bodily injury liability coverage. If you choose a higher level, the online quoting tool won’t give you a red flag until you go to calculate your total premium.
MetLife offers this coverage in levels of none, $500, $1000 and standard increments up to $25,000.
MetLife offers a nice range of options for collision coverage as well. If collision is included, you can choose a deductible from $100 all the way up to $7,500.
MetLife requires those with comprehensive coverage to include (and pay for) towing and labor coverage, a stipulation that is fairly unique in the car insurance industry.
This option is often offered on homeowner insurance policies, but MetLife makes it available to all home and auto policyholders at no extra charge.
In some areas – like rental car coverage – MetLife goes beyond the industry standard, while in other areas – like towing – it requires coverage that is usually optional.
Also known as substitute transportation expense, MetLife offers this at $25/$750, a lower beginning level than the industry standard. They also require that collision coverage be included in the policy in order to add this coverage.
This is available at coverage levels of $50, $75 or $100. MetLife requires all policyholders with comprehensive coverage to carry towing coverage as well, so it isn’t actually optional.
If you have collision on your policy, you can add this optional coverage, which will waive your deductible if you are involved in an accident that was not your fault.
If you have added your own stereo and sound gear, this coverage will help protect your investment. You decide how much coverage you want, and that is factored into your policy premium.
If you live in a state where this coverage is available, you can add $3,500 in coverage to your policy. It will only apply in the case of a hit and run, or damage caused by an uninsured motorist, and cannot be used in the case of damage from an underinsured motorist.
This would not normally be listed, as it is fairly standard for your policy to cover a car that you rent. But MetLife has expanded rental car coverage and improves on what other carriers provide. It covers an extra suite of potential costs, such as the “loss of use” fees rental companies sometimes charge.
If your new car (less than one year and less than 15,000 miles) is totaled, it will be replaced without a deduction for depreciation.
If certain major items on your car need to be replaced when your vehicle is in an accident, their value will not be reduced to reflect depreciation or wear and tear.
This will cover the difference between the value of your car and the amount still owed on it if the vehicle is totaled.
Available Discounts on MetLife Car Insurance
One of MetLife’s strengths is that you may get a discount just by virtue of where you work, what groups you belong to, or what hobbies you might have, in addition to normal discounts like bundling and rewards for good driving.
|Type of Discount||Description|
|Deductible savings benefit||This discount awards you $50 each year you don’t file a claim, up to $250, which can be used toward your deductible when you need it.|
|Defensive driver discount||Earn up to seven percent savings by taking a defensive driver course.|
|Superior driver discount or MetRewards||Depending upon your state, a good driving record can get you discounts on your auto policy.|
|Multi-policy discount||Varied savings are available by bundling your MetLife auto insurance with another MetLife line, such as life or home insurance.|
|Good student discount||If a driver on your policy is a high school or college student with good grades, you could see a savings of up to 15 percent.|
|Group discount||If you belong to an organization that has contracted with MetLife, such as your employer or an association to which you belong, you may be able to get a savings on your auto insurance.|
How to Make a Car Insurance Claim with MetLife
To file an auto claim, you have several options. To report a claim by phone, they offer a toll-free number, with customer service available 24-7. If there are no injuries related to the claim, you can log in to an existing online policyholder account, or use the mobile app.
How to Contact MetLife Car Insurance
Customer Service Phone Number 800-422-4272
Claim Phone Number 800-854-6011