Iowa Mutual vs. Metlife: Which Company is the Best Fit for You?

Quick Facts

• In general, Iowa Mutual offers significantly cheaper premiums than Metlife
• Iowa Mutual has less expensive prices for policyholders who live in urban areas
• Metlife may help you save more money -- they offer more discounts than Iowa Mutual

Iowa Mutual or Metlife: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering big savings, but exactly how much money can you save by switching?

You might have narrowed your search down to Iowa Mutual or Metlife, but which company will offer you more affordable premiums?

Looking at nationwide averages, Metlife has average rates that are around 40% a month more expensive than those from Iowa Mutual.

But that doesn't necessarily mean Iowa Mutual will be the cheaper option for every driver. Car insurance carriers use a ton of complex algorithms to determine rates, so depending on how old you are or how good your credit score is (among a multitude of other factors), you could see wildly different prices from the ones above.

So, if you want to find out which of Iowa Mutual or Metlife is really the best for you, keep reading to see average premiums for each company broken down by a bunch of different rate factors.

Iowa Mutual vs. Metlife: Average Car Insurance Rates by State

Iowa Mutual and Metlife only compete against each other in Nebraska, where Iowa Mutual offers the cheaper average rates. Undefined drivers tend to pay about undefined per month less on average compared to drivers who use undefined for their insurance.

That being said, there's a lot more that goes into your car insurance bill than just the state you live in. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance prices of any group on the road. It's usually because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, that doesn't mean teen drivers can't still save money on their auto insurance. As you can see above, teens who use Iowa Mutual save over 50% a month compared to those who use Metlife.

That being said, both companies will lower rates by the time you turn 25. Metlife offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Iowa Mutual still has the most affordable premiums at $177 per month.

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 cheapest prices out there.

So, which carrier offers the best premiums to retired drivers? Iowa Mutual gets the edge here, with average prices coming in at about $146 a month compared to Metlife's $205.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be more affordable for married drivers than they are for single drivers. This usually boils down to married policyholders having several vehicles on their policy -- something lots of auto insurance carriers will reward with discounts.

For those who are single, the difference in average prices between these two companies is significant, with Iowa Mutual rates coming in at around half of Metlife's. For married couples, the advantage is clear again - Iowa Mutual has the edge when it comes to average premiums.

Iowa Mutual or Metlife: Average Rates by Gender

Men are statistically more likely than women to get into a collision or get pulled over for speeding. That means when it comes to car insurance men will normally end up paying a little more.

With Iowa Mutual, men generally pay almost 15% more per month than women., but with Metlife, the difference is closer to 8% a month.

Looking at the data for each company specifically, Iowa Mutual offers the lowest average prices for both men and women. On average, male drivers save about $126 per month and women save about $131 with Iowa Mutual compared to the average Metlife policyholder.

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

The two most common policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers if you cause an accident) and full coverage (which typically refers to having collision and comprehensive coverages alongside what you get with a liability policy).

Looking specifically at state minimum limits for liability insurance, Iowa Mutual has the significant edge, with average monthly rates coming in at $94. If you want a full coverage policy with the same state minimum limits, Iowa Mutual again has the edge, with policies averaging around $328 a month to Metlife's $466.

Is Iowa Mutual or Metlife Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

You'll probably end up paying more with collisions and speeding tickets on your record, but which of these two companies offers the most affordable rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Iowa Mutual for their auto insurance can normally expect their monthly bill to go up about 6% after getting a speeding ticket. Metlife policyholders can expect a bit more drastic of an increase of around 21%.

Even so, Iowa Mutual tends to offer the best prices for both drivers who have a recent ticket and those with clean records -- their rates are around 25% less expensive for drivers with clean records and 37% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Iowa Mutual drivers who get in a collision can expect to see their premiums rise by just under 15%, while those who have insurance through Metlife will see about a 40% increase.

At the end of the day, the cheaper prices come from Iowa Mutual, with average premiums coming in at $191 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 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 Iowa Mutual's average prices increase by nearly 50%.

How does Credit Score Impact Iowa Mutual and Metlife Rates?

In many cases, your credit score can come into play when carriers calculate your monthly bill. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it might come into play for a lot of policyholders.

The reasoning auto insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so usually, they'll be asked to pay more, while those with good credit will be rewarded with less expensive rates.

So, which carrier offers the cheapest prices for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Iowa Mutual or Metlife Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a sizable impact on how much car insurance companies will charge for coverage. That's because the fewer miles you drive, the less likely you are to be in a collision and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Iowa Mutual charges. However, there's a small difference in monthly premiums for Metlife, with policyholders who drive 6,000 miles every year paying about $3 less each month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Iowa Mutual is the more affordable company.

Iowa Mutual 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 insurance, but the type of area you live in can have a pretty big impact as well. Generally, 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.

When comparing these two carriers side-by-side, Iowa Mutual typically comes out as the lowest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, Iowa Mutual's average rates are around 36% less than MetLife. People who live in suburban areas pay about 40% less with Iowa Mutual compared to Metlife. Those in rural areas can expect to save around 37% with Iowa Mutual compared to Metlife.

Iowa Mutual vs. Metlife Discounts

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

The hard part is finding all of the discounts you're eligible for, since it can feel sometimes like every carrier 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 Iowa Mutual and Metlife so that you can see which carrier can save you the most money each month.

Metlife knocks Iowa Mutual out of the park when it comes to the sheer number of discounts available, offering 36 different discounts to Iowa Mutual's 36.

Both companies offer several of the same discounts -- like ABS discounts, discounts for being a defensive driver, mature driver discounts, and passive restraint discounts -- but Metlife also offers discounts for AAA, academic, agency transfer, and more.

On the other hand, Iowa Mutual has a few proprietary discounts of their own for things like claim free discounts, driver training discounts, and hybrid vehicle discounts.

Final Thoughts: Is Iowa Mutual or Metlife Best for You?

So, we've broken down the average prices for many of the variables insurance carriers look at, and walked through the different discounts each company offers, too. That's all well and good, but at the end of the day, which insurance carrier is the right fit for you?

Iowa Mutual might be best for you if....

• Your driving record includes a DUI charge.
• You live in an suburban area.
• You don't spend much time in your car.

Metlife might be best for you if...

• You're planning on moving to another state soon -- undefined is only available in.
• You're looking for the company with the most discounts.

Hopefully, this guide has ben a valuable resource as you compare Iowa Mutual and Metlife. We also hope we've given you the information you need to make the best decision about your car 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 multiple companies, not just Iowa Mutual and Metlife. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance carriers in your area, all for free.

Iowa Mutual vs. Metlife FAQs

Is Iowa Mutual or Metlife cheaper?

Iowa Mutual is the cheaper of the two companies when looking at national average premiums, with policies averaging $211 per month with Iowa Mutual and $340 for Metlife. That being said, that doesn't mean Iowa Mutual will be the cheapest carrier for everyone, since there are a range of different factors that are considered when it comes to your auto insurance cost.

Who is better, Iowa Mutual or Metlife?

Sadly, the only answer we can give you is "it depends.". One company is not necessarily "better" for every policyholder -- it all comes down to what your unique insurance profile looks like.

Why do Iowa Mutual and Metlife offer me different rates?

Car insurance carriers use several different variables when determining the rates they charge. Factors like gender, where you park your car, your driving record, age, and sometimes even things like your credit score can all come into play. Both Iowa Mutual and Metlife calculate prices differently, so it's likely they'll offer different premiums. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from lots of different companies.

How do I know if Iowa Mutual or Metlife is right for me?

The only way to find the insurance company that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. 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 most affordable price. And maybe you'll find that the best carrier for you isn't Iowa Mutual 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.