Overview of MetLife Home Insurance

As the name indicates, MetLife started out as a life insurance company (and today is the largest life insurance company in the country). But they also insure cars and homes. In fact, MetLife is among the top 15 home insurers in America, with a market share of about 1.3 percent. Most people probably aren’t aware of the company’s rankings, but chances are most of us are aware of MetLife because of Snoopy and the Peanuts characters, who have proudly promoted the company since the mid-1980s.

How Does MetLife Home Insurance Rate?

Consumer Satisfaction Rating

These ratings are from the J.D. Power 2016 U.S. Household Insurance Study – Homeowners Insurance. 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.

Overall
Policy Offerings
Pricing
Billing & Payment
Contacting the Insurer
Claims
Customer Complaint Ratio

The National Association of Insurance Commissioners 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 less than average number of complaints, while a score higher than 1 means it has more than average. Find out more from the NAIC website.The MetLife Insurance subsidiary rated here may not be the subsidiary that underwrites your insurance policy. Check with your insurance agent for more information.

Last Updated: July 2017

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
Rating A

Effective Date: October 2016

Website Features
  • Rate calculator
  • Mobile app
  • Pay bill online
  • Make claim online
  • Household inventory tool

Pros and Cons of MetLife Home Insurance

Pros

  • The GrandProtect home insurance package with the Coverage A Plus feature is among the best coverage offered by any home insurance company
  • Consumer education is a high priority for MetLife, and their website can answer just about any insurance-related question you might have.
  • MetLife has an entire range of financial services, life insurance and auto insurance, making it easy to bundle these products.

Cons

  • MetLife doesn’t have an online quote tool for home insurance.
  • MetLife has a 24-page guide to creating a home inventory, but doesn’t have an online tool for it.
  • Just about the only thing you can do in relation to your home insurance policy on the mobile app is pay your bill.
  • You can’t report a home insurance claim online (yet there is a fax number that you can use).

MetLife Home Insurance Coverage

MetLife has three levels of home insurance packages, ranging from basic to deluxe coverage (Standard, Platinum, GrandProtect). The MetLife insurance sales model involves an agent right from the beginning of the quote to help determine the appropriate coverage within the package, rather than having you perform the calculations yourself. You will still get an idea of what kind of coverage to expect from each package, however, from the features offered.

Your choice of package will affect the available coverage limits. The Standard package offers limited protection, while the Platinum is similar to a standard policy with good coverage. The GrandProtect has very good coverage, and has features such as the Coverage A Plus that set MetLife apart.

Dwelling

Your dwelling coverage is set at 100 percent of the estimated replacement cost. With the first two packages, you have the option of adding an additional 25 percent for expanded replacement coverage, while the top package includes MetLife’s Coverage A Plus, which doesn’t place a monetary cap on the expanded replacement cost.

Other structures

The other structures coverage improves as you move up the list of packages, from 10 percent of the dwelling limit, to 20 percent of the dwelling limit and finally to a blanket property limit.

Personal property

The quality of the personal property coverage also increases with the quality of the insurance package, both in terms of the limit of coverage and the method of valuation.

Loss of use

The loss of use coverage runs from 10 percent of the dwelling coverage (Standard) to 20 percent of the dwelling coverage (Platinum) to the actual loss sustained (GrandProtect).

General liability and medical payments to others

The liability coverage and med pay do not vary based on the level of insurance package.

Identity protection services

This is usually an additional coverage option, but MetLife includes it with every policy.

MetLife offers a good number of additional options. Some vary in coverage limits according the to the homeowner package and some don’t.

Back-up of sewer, drain and sump pump

This can be added to the Standard package, but the other two packages come with $10,000 of coverage.

Ordinance or law

This is included at different coverage limits for the two better packages, and is optional for the lower package.

Debris removal

This option is available at a limit of 10 percent of the dwelling coverage in all three packages.

Trees, shrubs, plants and lawns

No matter what package you have, you can add this coverage to protect portions of your landscaping for up to 5 percent of the dwelling limit.

Special limits of coverage

You can increase the levels of protection for these categories of property that include watercraft, jewelry, computers and more. On certain items, the coverage gets better as you move up to the higher-quality packages.

Available Discounts on MetLife Home Insurance Coverage

MetLife has some homeowner insurance discounts available, but the one they promote most is the multi-policy discount in order to increase your lines of MetLife insurance.

Type of Discount Description
Multi-policy Bundle home and auto with MetLife and you’ll get the Auto Policy Plus discount.
Claim-free You’ll see a savings on your premium when you have a record of not making claims against your home insurance.
Safety discounts Home systems to help prevent fires or theft can earn you a discount.
Group discounts MetLife partners with a number of groups and organizations, and if you belong to one of them, it could save you money.

How to Make a Home Insurance Claim with MetLife

You can file your MetLife home insurance claim by phone, fax or e-mail. The phone center will take claims calls 24 hours a day and seven days a week, and your representative will answer your questions and initiate the claims process. A claims specialist will contact you within 24 hours to set up an inspection. Once the assessment is done, MetLife will work with you to get your claim paid and to arrange for repairs or replacement.

How to Contact MetLife Home Insurance

States Served
Updated: July 28, 2017