Metropolitan Life Insurance (MetLife) is among the biggest and most well-known companies that provide life insurance services. In April 2021, the auto and home polices from MetLife were acquired by Farmer’s Insurance. These policies were rebranded under the Farmer’s name, but other than that there wasn’t any change for those who already had polices.
- The Pros of Metropolitan Life Insurance
- Why Choose MetLife Auto Insurance?
- What Does MetLife Homeowners Insurance Provide?
- The Cons of Insurance From MetLife
- Should You Avoid MetLife Auto Insurance?
- Is MetLife Homeowners Insurance a Good Idea?
- The Bottom Line for MetLife Insurance Products
Anyone who’s thinking about getting a policy from MetLife should know that they’ll actually be working with Farmer’s, if they choose a home or auto policy. That may affect whether they want to choose a MetLife policy or not.
Whether a policy is under the MetLife name, though (and some types of insurance through the company still are), you’ll want to make sure it’s the right policy for your needs. Here’s what to consider, when deciding if Metropolitan Life Insurance is the right choice for you.
Top Life Insurance Companies By Market Share
|Rank||Company||Premiums Written||Share of Market|
|3||New York Life||$9,385,843,000||5.8%|
The Pros of Metropolitan Life Insurance
First, let’s look at the great reasons to choose MetLife for your insurance needs. A lot of people are familiar with the MetLife name, but mostly because of policies sold through their workplaces. The company still has those types of policies, but also home, auto, dental, and other options.
There’s a good-sized network of agents all across the country that offers these policies direct to consumers. The main pros of buying insurance through Metropolitan Life Insurance include:
- A low number of complaints for the company’s home insurance, indicating that most people who have this insurance are satisfied with it.
- A combination policy for home and auto in most states, that gives you a single deductible for your insurance.
Those can be good reasons to choose this company, provided the policies and coverage amounts are also what you’re looking for. Taking a closer look at the pros of both auto insurance and homeowners insurance can help.
Why Choose MetLife Auto Insurance?
Metropolitan Life Insurance has a full range of car insurance coverage. It’s important to understand not only the kind of insurance you want, but also what you’re going to have to buy. In most states, you’re required to have insurance if you want to drive a vehicle on public roads.
You can get that insurance from MetLife, so you can choose options and coverage ranges that fit your state and your driving habits, along with giving you the additional protection you’re looking for. If you have a newer car, for example, you might want to have comprehensive and collision insurance on it, to protect your investment.
There are plenty of impressive options from MetLife, that you can get in most of the states where the company writes policies. Some of these include:
- New Car Replacement — If your car is totaled within one year of buying it, or 15,000 miles, you can get a brand-new car to replace the old one.
- Gap Insurance — If you owe more on your car than it’s worth, gap insurance can cover the difference if your vehicle is totaled in an accident.
- Deductible-Free Glass Repair, Deductible Savings Benefits, and Usage-Based Insurance — These additional perks keep you from paying for a windshield repair, help reduce your deductible if you don’t make claims, and lower your insurance costs when you don’t drive as many miles.
If you want to save some additional money on your policy through MetLife, there are some ways you can do that. Consider the great discounts the company offers, such as:
- Good student
- Defensive driving course
- Good driving record
With options and discounts from MetLife, you’ll be able to feel confident about the coverage you have when you’re spending time on the road. You’ll also know you’re meeting state requirements for auto insurance, so you won’t put yourself or others at risk. That peace of mind is a very important part of having vehicle insurance.
What Does MetLife Homeowners Insurance Provide?
Customers really seem to like the quality and value they get from MetLife homeowners insurance, along with the service they receive and the ease of shopping for policies. One of the biggest pros of this insurance is that all the basics come with a standard policy. You can feel comfortably protected when you choose home insurance from Metropolitan Life Insurance.
You can also add plenty of additional coverage choices to your MetLife policy, like coverage to replace your personal property without depreciation and coverage for replacement cost. That way you can have a new home built (and replace all the things in it) if your old home and its contents are destroyed.
One of the biggest perks of the home insurance, is that you can bundle it auto and only have one single deductible. That’s offered in most states, and can add to your peace of mind when you know you don’t have to worry as much about insurance deductibles if something should go wrong.
Also remember that you’ll be able to get some good discounts from MetLife, to help make your home insurance even more affordable. These discounts include:
- Fire and theft prevention systems, like deadbolt locks and smoke detectors.
- Bundling your home and auto insurance.
- Membership is specific groups or with particular employers.
No matter what state you live in, and what kind of car and house you own, you can get quality insurance products from MetLife. That way you’ll be able to enjoy your home and car even more, knowing that they’re protected through a quality company you can trust and rely on.
The Cons of Insurance From MetLife
Just like with any insurance company, there are pros and cons to having a policy through Metropolitan Life Insurance. The company is not perfect, and they don’t always offer everything a person might want.
In some states, they don’t have as many options available. It’s also important to remember that they might not be the least expensive choice, depending on your personal situation and insurance needs.
By taking a look around at customer opinions, you can see that the biggest con to having a MetLife policy seems to be:
- Low customer satisfaction with auto insurance policy shopping, which is in stark contrast to customer happiness with home insurance policy options.
In other words, a higher-than-average number of MetLife customers either don’t like their auto policy from the company, or don’t like the level of effort that’s required to get, keep, or change a policy from the company. Either way, that can lead to a lot of frustration that most people would prefer to avoid. But that doesn’t mean all customers are unhappy, or that MetLife won’t work for you.
The same kinds of complaints aren’t seen in the customers who buy homeowner’s insurance from MetLife, either, which might indicate that this issue is limited to the auto policy side of things and isn’t something that’s company-wide. The complaints about homeowners insurance are about average for an insurance company.
Should You Avoid MetLife Auto Insurance?
Would you be better off choosing another provider for your auto insurance, instead of buying a policy from Metropolitan Life Insurance? The short answer is maybe. The higher number of complaints about customer service with auto policy shopping options could mean that MetLife might not give you the level of service and customer satisfaction you’re looking for.
Naturally, that’s a problem you wouldn’t want. Everyone wants to be treated well, especially be companies they’re giving money to and relying on for services that are important to them. Not having good auto insurance that meets state requirements could get you into trouble with the law, and may also cause serious issues for you financially, if you’re in an accident. Having quality insurance reduces those risks.
But the consensus of MetLife auto policies isn’t that there are problems with the quality of the insurance itself. The level of protection is comparable to any other company that offers the same types of products and services. Instead, the customer service seems to be what’s lacking.
If that’s a deal-breaker for you, choosing another company for your auto insurance could be the right move. Some people are much more focused on customer service and ease of use than others, and only you can decide how big of a con a lower level of customer satisfaction with auto policy shopping options might be for you.
Once you have the policy you want, the level of shopping opportunity or the difficulty in it may cease to be much of a concern. If you choose to get an auto policy from Metropolitan Life Insurance, make sure you go over the policy carefully and get what you want and need to meet state requirements and protect yourself. You may need to be a little more patient to accomplish that.
Is MetLife Homeowners Insurance a Good Idea?
Unlike the concerns over poor customer satisfaction with their auto policy shopping options, there seem to be few cons to having a MetLife home insurance policy. The biggest concern for anyone who chooses this product may be making sure they’re getting the level of coverage they really want and expect.
For example, most homeowners policies are automatically written at replacement cost unless there’s a reason why the house doesn’t qualify for that, such as needing too much repair. But replacement cost is an option on MetLife policies. That means the basic policy won’t pay to replace the entire house in today’s dollars, if something should destroy it.
Customers who don’t realize that, might not have the level of coverage they really thought they did. That can be upsetting in the event of a loss, when you find that your insurance won’t pay to rebuild your house completely. That can also be a problem for the contents, since the basic policy accounts for depreciation.
In other words, the basic policy covers the items in your home, but only at a “used item” value that’s based on how long you’ve owned them. If you have a five-year-old sofa, for example, the policy won’t pay for a brand-new one. You can get content coverage through Metropolitan Life Insurance that offers full-value coverage, but it’s an option you’ll need to ask for.
It those extra perks and full-coverage options are what you want and need from your homeowners insurance, make sure you’re clear about that when you get your policy. Also make sure the price you’re being quoted includes those things, so you don’t have a nasty surprise when you get a bill or when you need to make a claim. It’s always good to be an informed consumer.
The Bottom Line for MetLife Insurance Products
So, is Metropolitan Life Insurance the right choice for you? It just might be. There are definitely more pros than cons to choosing it, especially for savvy consumers who are looking for homeowners insurance. Those who are patient with customer service and policy shopping options for their auto insurance may like the company, as well.
MetLife has much to offer, and every insurance company has good and bad things that can be said about it. Opinions vary between people, based on the experiences they expect, their understanding of the insurance process, and plenty of other factors that can impact how they feel about a company.
After reviewing Metropolitan Life Insurance, it looks like:
- The overall satisfaction with MetLife is about average, based on what most customers think of the company.
- You’ll get identity theft protection included with your auto, renters, and home insurance policies.
- The number of complaints about its homeowners insurance is pretty low.
- The number of complaints about its auto insurance is pretty common for its size.
- It can be a great company for a lot of people, if the price and coverage is right for them.
There’s no reason to worry about a company like Metropolitan Life Insurance, when it comes to safety, security, proper licensing, or any of that. The company has been around for years, and has a generally good reputation, overall. Since it’s now part of Farmer’s Insurance, it has even more backing in the insurance field, and is a solid option for home, auto, and other insurance products.