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

Quick Facts

• In general, GEICO offers significantly cheaper premiums than MetLife
• GEICO tends to be a much more affordable option for residents of suburban areas
• MetLife may help you save more money -- they offer more discounts than GEICO

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

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering large savings, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to GEICO or MetLife as potential options, but between the two, which carrier will offer you less expensive rates?

As you can see, GEICO has average rates that are around 45% a month cheaper than those from MetLife when looking at the national average rates for auto insurance.

Even so, that doesn't mean GEICO will necessarily be more affordable than MetLife for every driver. Insurance carriers use a variety of complex algorithms to determine premiums, so depending on how old you are or where you live (among a wide array of other factors), you could see wildly different rates from the ones above.

Luckily, we've broken down average prices from both GEICO and MetLife by lots of different rate factors, so read on to find out which company is the best for you.

GEICO vs. MetLife: Average Car Insurance Rates by State

GEICO and MetLife compete against each other in 43 states, with GEICO offering less expensive premiums to the average driver in all but three of them. If you live in Louisiana, Michigan, or North Carolina, MetLife is the more affordable of the two companies when looking at the overall average rates, but GEICO is the cheaper option in most of the others.

That being said, there's a lot more that goes into your car insurance bill than just where you call home. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for auto insurance than any other group of drivers out there on the road. It's generally because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of over 60% less per month by choosing GEICO over MetLife.

But both carriers will offer you dramatically lower prices once you turn 25. For example, average rates for GEICO policyholders decrease about $200 and MetLife's premiums lower more than $500 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the lowest auto insurance prices you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for car insurance.

When looking at GEICO and MetLife specifically, which carrier is best for retired drivers? GEICO gets the edge here, with average prices coming in at around $148 a month compared to MetLife's $205.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are typically 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 prices between these two carriers is significant, with GEICO rates coming in at about half of MetLife's. The advantage for married policyholders with GEICO is also obvious, where drivers save around $60 a month.

GEICO or MetLife: Average Rates by Gender

Did you know men tend to pay more for insurance than women? That's because women are less likely to get speeding tickets and get into accidents, which decreases the chances of filing a claim with insurance.

Women generally pay about 4% per month less than men with GEICO, and around 8% less with MetLife.

Looking at the data for each company specifically, GEICO offers the cheapest average premiums for both men and women. On average, male drivers save about $165 a month and women save about $145 with GEICO compared to the average MetLife policyholder.

GEICO 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.

For most people, auto insurance isn't the easiest topic to understand. There are a variety of different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

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 their passengers if you cause an accident) and full coverage (which normally refers to having collision and comprehensive coverages alongside liability).

Looking specifically at state minimum liability limits, GEICO has the significant edge, with average monthly rates coming in at $101. If you want a full coverage policy with the same state minimum limits, GEICO again has the edge, with policies averaging around $269 per month to MetLife's $466.

Is GEICO or MetLife Better for Drivers with Spotty Records?

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

It's no secret secret that at-fault collisions and speeding tickets lead to higher premiums, but which carrier -- GEICO or MetLife -- has the most affordable prices for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use GEICO for their car insurance can usually expect their monthly bill to go up about 23% after getting a speeding ticket. MetLife policyholders can expect a less drastic increase of around 21%.

That being said, GEICO tends to offer the best prices for both drivers who have a recent ticket and those with clean records, offering rates that are $105 and $129 less expensive, respectively, compared to MetLife.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in a collision can expect to see their premiums rise by $85, while those who have insurance through MetLife will see about a $150 increase.

At the end of the day, the cheaper prices come from GEICO, with average premiums coming in at $200 compared to MetLife's $368.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- typically a lot more than an accident or speeding ticket. On average, MetLife will increase your rates around 55% after a DUI, while GEICO's average prices increase by nearly 60%.

But if you end up with a DUI charge and are looking for more affordable rates, GEICO tends to be less expensive for the average driver, with monthly premiums coming in at about $275 to MetLife's $494.

How does Credit Score Impact GEICO and MetLife Rates?

In many cases, your credit score can come into play when companies calculate your monthly bill. This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as a car insurance factor) but it does affect quite a few policyholders out there.

Insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which raises the risk involved on their end, while the opposite is true for those with good credit.

So, which company offers the cheapest prices for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, GEICO will usually reward you the most. For policyholders with "excellent" credit scores, GEICO comes in more than 40.99 more affordable. Drivers with "good" credit scores generally save around 40% with GEICO compared to average premiums from MetLife.

Which Company is Best for Drivers with Bad Credit?

GEICO typically offers lower prices than MetLife when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about 42% a month less with GEICO compared to MetLife, and those with "poor" scores normally save an average of around 52% per month.

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

The amount of time you spend behind the wheel of your car plays a big role in how much auto insurance companies will charge for coverage. Typically, those who drive less will end up with less expensive 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, GEICO tends to be the cheaper option. GEICO's average premiums for drivers with 6,000 annual miles come in about $158 more affordable than MetLife. Those who drive 12,000 miles annually can expect to pay around $153 less with GEICO over MetLife.

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

Where your home is can have a pretty big impact on your monthly car insurance payment. Normally, if you live in an urban area with more cars on the road, you'll pay a little more for auto insurance, while the opposite is true for people in rural areas.

GEICO boasts the lowest average premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save about $140 with GEICO compared to MetLife. People who live in suburban areas pay around $148 less with GEICO compared to MetLife. For drivers in urban ZIP codes, GEICO's average rates are about $178 less than MetLife.

GEICO vs. MetLife Discounts

No matter why you might be in the market for a new car 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 insurance discounts as possible.

But with what seems like a million different discounts out there, it can be difficult to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you qualify for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both GEICO and MetLife so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

MetLife blows GEICO away when it comes to the sheer amount of discounts available, offering eight more discounts than GEICO.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, EFT discounts, and discounts for being a good student. MetLife also offers discounts for AAA, academic, agency transfer, and more.

On the other hand, GEICO has a few proprietary discounts of their own for things like commercial drivers license discounts, COVID-19 relief discount, deployed driver discounts, and more.

Final Thoughts: Is GEICO or MetLife Best for You?

So, we've broken down the average premiums for many of the factors auto insurance carriers look at, and walked through the different discounts each carrier offers, too. That's all well and good, but at the end of the day, which company is the best carrier for you and your specific profile and needs?

GEICO might be best for you if....

• You've received a ticket for speeding recently and don't want to see your rates climb.
• You want the most robust protection via a "full coverage" policy.
• You don't spend much time in your car.

MetLife might be best for you if...

• You want to save extra money with discounts.

Hopefully, this guide helps you get a better idea of the difference between GEICO and MetLife. We also hope we've given you the information you need to make the best decision about your car insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on insurance -- comparing quotes from several companies, not just GEICO and MetLife. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

GEICO vs. MetLife FAQs

Is GEICO or MetLife cheaper?

GEICO is the less expensive of the two companies when looking at national average prices, with policies averaging $185 per month with GEICO and $340 for MetLife. But that doesn't mean GEICO will be the most affordable carrier for each driver, since there are a range of different variables that come into play when it comes to your auto insurance cost.

Who is better, GEICO or MetLife?

Sadly, the only answer we can give you is "it depends.". Neither company is "better" for everyone -- it all boils down to your unique insurance profile.

Why do GEICO and MetLife offer me different rates?

Auto insurance carriers use several different factors when determining the premiums they charge. Variables such as gender, age, where you park your car, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and MetLife calculate rates using different factors, 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 a bunch of different companies.

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

The only way to find the insurance company that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code 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 lowest premium. And maybe you'll find that the best carrier for you isn't GEICO 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.