Erie vs. MetLife: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for auto insurance, Erie offers significantly more affordable premiums than MetLife
• Erie has cheaper prices for policyholders who live in rural neighborhoods
• MetLife may help you save more money -- they offer more discounts than Erie Insurance

Erie or MetLife: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. You've probably seen commercials and billboards from companies offering hefty savings, but exactly how much money can you save by switching?

You might have narrowed your search down to Erie or MetLife for your next policy, but which one will save you the most?

Looking at the national average rates for both carriers, MetLife is quite a bit more expensive than Erie, with rates averaging $340 a month compared to just $153 with Erie.

Even so, that doesn't mean Erie will necessarily be more affordable than MetLife for every single driver. Insurance companies use tons of complex algorithms to determine premiums, so depending on how clean your driving record is or how old you are (among quite a few other factors), you could see wildly different prices from the ones above.

Wanting to know if Erie or MetLife is really the right carrier for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Erie vs. MetLife: Average Car Insurance Rates by State

Erie and MetLife compete against each other in nine states, with Erie offering cheaper prices to the average driver in all of them. Wisconsin has the most noticable difference, where Erie premiums are $272 less expensive than car insurance prices at MetLife.

But there's more to calculating insurance rates than just your home state. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any group out there on the road. The reason is that teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

However, that doesn't mean that teen drivers have to just accept sky-high insurance rates. As you can see above, teens who use Erie save over 65% per month compared to those who use MetLife.

But both carriers will offer you dramatically lower premiums by the time you turn 25. For example, average prices for Erie policyholders decrease almost 55% and MetLife's premiums reduce more than 70% over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest prices you'll ever see.

So, which company offers the best rates to retired drivers? Erie gets the edge here, with average prices coming in at around $116 monthly compared to MetLife's $205.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance premiums tend to be cheaper for married drivers than they are for single policyholders. This usually boils down to married couples having more than one vehicle on their policy -- something lots of car insurance companies will reward with discounts.

For those who are single, the difference in average rates between these two carriers is significant, with Erie premiums coming in at about a third of MetLife's. The advantage is also clear for married policyholders - Erie offers the most affordable average prices.

Erie or MetLife: Average Rates by Gender

You may not know, but men usually pay more for auto insurance than women do. That's because men are more likely to get into collisions and get tickets, which increases the chances of filing a claim with insurance.

Women typically pay around 7% a month less than men with Erie, and nearly 10% less with MetLife when compared to their male counterparts.

Looking at overall affordability, Erie comes out on top for both men and women. On average, women save about $179 per month and men save about $196 with Erie compared to the average MetLife policyholder.

Erie vs. MetLife: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Insurance can be a complicated subject for most people. There are so many different limits and coverages that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and passengers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to liability).

Looking specifically at state minimum limits for liability insurance, Erie has the significant edge, with average monthly rates coming in at $91. If you want a full coverage policy with the same state minimum limits, Erie again has the edge, with policies averaging around $215 a month to MetLife's $466.

Is Erie or MetLife Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with speeding tickets and collisions on your record, but which of these two companies offers the cheapest prices to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Erie for their insurance can generally expect their monthly bill to go up about 13% after getting a speeding ticket. MetLife policyholders can expect a bit more drastic of an increase of around 21%.

That being said, Erie is normally the less expensive option for drivers both with clean records and with a ticket. With Erie Insurance, drivers with a clean record can save about $101 per month and drivers with a speeding ticket can save around $142 a month.

Which Company is Best for Drivers After an Accident?

Both carriers will raise premiums pretty significantly if you get into an at-fault collision with MetLife raising by about 40%. Erie has a less extreme increase, but you can still expect to pay nearly 25% more than you were prior to your first accident.

At the end of the day, Erie offers the most affordable rates for drivers with an at-fault collision on their records, with average prices coming in at $157 compared to MetLife's $368.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even an accident. MetLife drivers usually see a 55% increase in their car insurance premiums after a DUI charge, while Erie will generally raise rates by around 40%.

How does Credit Score Impact Erie and MetLife Rates?

You may not realized it, but your credit score can be used as one of the factors to calculate your monthly insurance premiums. This isn't true for everyone (for example, are two states that ban the practice entirely), but it will come into play for many drivers.

The reasoning auto insurance companies use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper rates, while those with poor credit will usually be forced to pay more.

So, which carrier offers the best prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Erie or MetLife Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a big impact on how much car insurance carriers will charge for coverage. Normally, those who drive fewer miles will end up with more affordable rates since there's less of a chance of causing a collision and filing an insurance claim.

For both remote workers and those taking short commutes, Erie offers cheaper prices than MetLife. Erie's average premiums for drivers with 6,000 annual miles come in about $192 more affordable than MetLife. Those who drive 12,000 miles yearly can expect to pay around $184 less with Erie over MetLife.

Erie or MetLife: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a sizable role in how much you pay for auto insurance. Typically, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers since there are a lot more cars on the road where they live, which increases the chances of an accident.

Erie tends to offer the lowest rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to save about 62% with Erie compared to MetLife. People who live in suburban areas pay around 56% less with Erie compared to MetLife. For policyholders in urban ZIP codes, Erie Insurance's average premiums are about 50% less than MetLife.

Erie vs. MetLife Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many car insurance discounts as possible.

The difficult part is finding all of the discounts you're eligible for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Erie and MetLife so that you can easily see which company offers the most discounts and, therefore, the largest savings.

MetLife knocks Erie out of the park when it comes to the sheer number of discounts available, offering 15 more discounts than Erie.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, farm discounts, and discounts for insuring multiple cars with the same company. MetLife also offers discounts for AAA, academic, agency transfer, and more.

On the other hand, Erie has a few proprietary discounts of their own for things like advance quote discounts, COVID-19 relief discount, driver training discounts, and more.

Final Thoughts: Is Erie or MetLife Best for You?

So, you've seen how different variables can affect your insurance prices. We've shown you all the discounts each carrier offers, too. But, at the end of the day, which insurance company is the right company for you and your specific profile and needs?

Erie might be best for you if....

• You will be the only person on the auto insurance policy.
• Your credit score is high.
• You want to save money while purchasing car insurance for a teenager.

MetLife might be best for you if...

• You're thinking about moving to another state -- undefined only offers policies in.
• You care about discounts (MetLife offers the most).

Hopefully, this guide has ben a valuable resource as you compare Erie and MetLife. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of companies, not just Erie and MetLife. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top car insurance carriers in your area, all in just a few minutes.

Erie vs. MetLife FAQs

Is Erie or MetLife cheaper?

Erie is the less expensive of the two companies when looking at national average rates, with policies averaging $153 per month with Erie and $340 for MetLife. Even so, that doesn't mean Erie will be the most affordable carrier for every driver, since there are lots of different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Erie or MetLife?

Unfortunately, the only answer we can give you is "it depends.". No single company is "better" for each policyholder -- it all depends on what your unique auto insurance profile looks like.

Why do Erie and MetLife offer me different rates?

Car insurance carriers use quite a few different variables when determining the premiums they charge. Things like where you call home, age, gender, where you park your vehicle, and sometimes even things like your credit score can all be used. Both Erie and MetLife use different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from several different companies.

How do I know if Erie or MetLife is right for me?

The only way to find the insurance company that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your information once and you'll get quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best carrier for you isn't Erie or MetLife at all, but another you hadn't even thought of!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.