Hallmark Financial vs. Metlife: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Hallmark Financial offers significantly cheaper prices than Metlife
• Hallmark Financial offers less expensive average premiums for policyholders who drive fewer than 6,000 miles every year
• Metlife may help you save more money -- they offer more discounts than Hallmark Financial

Hallmark Financial or Metlife: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

You might have narrowed your search down to Hallmark Financial or Metlife for your next policy, but between the two, which one will save you the most?

As you can see, Hallmark Financial is quite a bit cheaper than Metlife, with rates averaging $211 a month compared to $340 with Metlife when looking at the national average rates for insurance.

But Hallmark Financial may not be the cheapest or best option for every single driver out there. After all, car insurance carriers can offer drastically different rates to each driver depending on rating factors like your driving record, your credit score, your age, or even where you call home (among other things), so premiums will change quite a bit from person to person.

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

Hallmark Financial vs. Metlife: Average Car Insurance Rates by State

Hallmark Financial and Metlife only compete against each other in three states, with Hallmark Financial offering more affordable premiums to the average driver in all of them. Nevada has the most noticable difference, where Hallmark Financial prices are $285 less expensive than auto insurance rates at Metlife.

But there's more to calculating car insurance prices than just where you live. Keep reading to learn more.

Which is the Best Company For Young Drivers?

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

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. As you can see above, teens who use Hallmark Financial save almost 50% per month compared to those who use Metlife.

However, both companies will reduce premiums once you turn 25. Metlife offers the steepest decrease, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Hallmark Financial still has the lowest prices at $184 monthly.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Hallmark Financial and Metlife? Hallmark Financial gets the edge, with rates for drivers 65 and older nearly 25% more affordable than the national average for Metlife.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are normally cheaper for married policyholders than they are for single policyholders? That's because policies for married drivers typically cover more than one vehicle, which quite a few carriers will give you a discount for.

For single drivers, the difference in average prices between these two companies is significant, with Hallmark Financial premiums coming in at around half of Metlife's. The advantage is also clear for married couples - Hallmark Financial offers the most affordable average rates.

Hallmark Financial or Metlife: Average Rates by Gender

Men are statistically more likely than women to get into a collision or get pulled over for speeding, which means they'll generally end up paying more for insurance than women.

Women usually pay about $20 a month less than men with Hallmark Financial, and around $28 less with Metlife.

Looking at overall affordability, Hallmark Financial comes out as the lowest option for both genders, with average premiums 38% less for men and 38% cheaper for women.

Hallmark Financial 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 can be pretty complicated. Everyone needs insurance, but there are so many different limits and coverages that it can be hard to find the right policy for you.

Even so, the 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 includes two additional coverages -- collision and comprehensive -- in addition to what you get with a liability policy).

Looking specifically at state minimum limits for liability insurance, Hallmark Financial has the significant edge, with average monthly rates coming in at $115. If you want a full coverage policy with the same state minimum limits, Hallmark Financial again has the edge, with policies averaging about $306 per month to Metlife's $466.

Is Hallmark Financial or Metlife Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their car 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 collisions and speeding tickets on your record, but which of these two carriers offers the cheapest prices to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Hallmark Financial for their insurance can normally expect their monthly bill to go up around 7% after getting a speeding ticket. Metlife policyholders can expect a bit more drastic of an increase of about 21%.

That being said, Hallmark Financial is generally the less expensive option for both drivers who have a recent ticket and those with clean records, offering rates that are 12% and 25% cheaper, respectively, compared to MetLife.

Which Company is Best for Drivers After an Accident?

Both companies will raise prices pretty significantly if you get into an at-fault collision with Metlife climbing by around 40%. Hallmark Financial has a less extreme climb, but you can still expect to pay more than 15% more than you were prior to your first accident.

At the end of the day, the more affordable premiums come from Hallmark Financial, with average prices coming in at $229 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 car insurance bill -- usually a lot more than a collision or speeding ticket. On average, Metlife will climb your premiums about 55% after a DUI, while Hallmark Financial's average rates increase by nearly 10%.

How does Credit Score Impact Hallmark Financial and Metlife Rates?

Did you know many auto insurance carriers take into account your credit score when determining prices? This isn't true for everyone (for example, Michigan and Hawaii are two states that ban the practice entirely), but it might come into play for a lot of drivers.

The reasoning 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 normally be forced to pay more.

Looking at Hallmark Financial and Metlife specifically, which carrier has the best premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Hallmark Financial or Metlife Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a pretty big impact on your monthly auto insurance cost? Typically, the more milage you put on your car each year, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Hallmark Financial charges. However, there's a small difference in monthly rates for Metlife, with policyholders who drive the least paying around $3 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Hallmark Financial is the cheaper company.

Hallmark Financial or Metlife: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for car insurance, but the type of area you live in can have a sizable impact as well. Generally, those who live in urban areas will pay more than policyholders in rural areas since there are a lot more vehicles on the roads where they live.

Hallmark Financial tends to offer the most affordable rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

If you live in a rural area, you can expect to pay about $178 a month with Hallmark Financial compared to Metlife's $299. Drivers in suburban ZIP codes pay a monthly price of around $229 with Hallmark Financial compared to $333 with Metlife. In urban areas, Hallmark Financial's average premiums are about $225 while Metlife offers prices around $389.

Hallmark Financial vs. Metlife Discounts

You want to save as much money as you can, right? The best way to do that is by taking advantage of as many insurance discounts as possible.

But with what seems like a million different discounts out there, it can be hard to find all the ones you can take advantage of or to nail down the company that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and looked at all of the different discounts Hallmark Financial and Metlife offer their customers so that you can see which company can save you the most money each month.

Metlife knocks Hallmark Financial out of the park when it comes to the sheer number of discounts available, offering 32 more discounts than Hallmark Financial.

A couple of those are overlapping for things like discounts for being a defensive driver and passive restraint discounts. Metlife also offers discounts for AAA, ABS, academic, and more.

On the other hand, Hallmark Financial has a few proprietary discounts of their own like education discounts and foreign license discounts.

Final Thoughts: Is Hallmark Financial or Metlife Best for You?

So, you've seen how different variables can affect your car insurance premiums. We've broken down the different discounts each carrier offers, too. But, at the end of the day, is Hallmark Financial or Metlife the best carrier for you and your specific driver profile?

Hallmark Financial might be best for you if....

• You have less-than-stellar credit.
• Your home is located in the suburbs.
• You've started working from home and don't have much of a commute.

Metlife might be best for you if...

• You're planning on moving to another state soon -- undefined only offers policies to residents.
• You want to save extra money with discounts.

Hopefully, this guide helps you get a good idea of the differences between Hallmark Financial and Metlife and that you can now make a more informed decision when it comes to your auto insurance.

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

Hallmark Financial vs. Metlife FAQs

Is Hallmark Financial or Metlife cheaper?

Hallmark Financial is the less expensive of the two carriers when looking at national average prices, with policies averaging $211 a month with Hallmark Financial and $340 for Metlife. But that doesn't mean Hallmark Financial will be the lowest company for everyone, since there are many different factors that are considered when it comes to your car insurance payment.

Who is better, Hallmark Financial or Metlife?

Sadly, the answer truly is "it depends.". One carrier is not "better" for each policyholder -- it all boils down to your unique auto insurance profile.

Why do Hallmark Financial and Metlife offer me different rates?

Car insurance companies use several different variables when calculating the rates they charge. Factors such as gender, where you park your car, your driving record, age, and sometimes even things like your credit score can all come into play. Both Hallmark Financial and Metlife calculate prices using different variables, so it's likely they'll offer different rates. The best way to determine which company is the most affordable for you is by comparing personalized quotes from lots of different carriers.

How do I know if Hallmark Financial or Metlife is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Hallmark Financial 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.