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

Quick Facts

• In general, Key offers cheaper rates than Metlife
• Key tends to be a much less expensive option for couples purchasing insurance together
• Metlife offers more discounts than Key Insurance Company

Key vs. Metlife: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Key or Metlife for your next policy, but which carrier will save you the most?

Looking at nationwide averages, Metlife has average rates that are about 16% per month more expensive than those from Key.

Even so, that doesn't mean Key will necessarily be more affordable than Metlife for each driver. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like your age, your driving record, where you call home, or even your credit score (among other things), so prices will vary quite a bit from person to person.

Luckily, we've broken down average premiums from both Key and Metlife by a bunch of different rate factors, so read on to find out which carrier is the best for you.

Key or Metlife: Average Car Insurance Rates by State

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But there's more to calculating car insurance rates than just your home state. 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 other group of drivers out there on the road. Usually, that's because young, inexperienced 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 car insurance. For example, 18-year-old drivers pay an average of nearly $300 less a month by choosing Key over Metlife.

That being said, both carriers will reduce premiums by the time you turn 25. For example, average prices for Key policyholders lower almost $450 and Metlife's rates drop more than $500 over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Key and Metlife specifically, which company is best for retired drivers? Metlife gets the slight edge here, with average rates coming in at around $205 monthly compared to Key's $223.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly less expensive insurance premiums than single drivers. That's normally because married couples tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, Key is the clear winner for those who are single, with prices about $89 per month cheaper than Metlife, on average. It's not quite so glaring for married policyholders, where drivers who use Key save around 6% a month.

Key vs. Metlife: Average Rates by Gender

Women generally to pay less for car insurance than men. This is because men are statistically more likely than women to get into an accident or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher premiums.

Women typically pay over 15% per month less than men with Key, and about 8% less with Metlife.

When it comes to the most affordable prices for each gender, Key offers the cheapest average rates for both men and women. On average, male drivers save about $43 a month and women save around $68 with Key compared to the average Metlife policyholder.

Key or 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.

It's no secret that auto insurance can be a complicated subject for most people. There are multiple different coverages that account for many different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause a collision.

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

If you're looking for state minimum liability limits, Key typically offers slightly more affordable premiums of $196 compared to Metlife's $215. When it comes to full coverage policies with similar limits, Key again has the edge, with policies about $95 per month cheaper than Metlife, on average.

Is Key or Metlife Better for Drivers with Spotty Records?

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

It's no secret secret that tickets and at-fault accidents lead to higher prices, but which carrier -- Key or Metlife -- has the lowest rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers with Key auto insurance policies don't report seeing their premiums increase after getting a ticket, but Metlife policyholders can expect to see their monthly bill increase by around 20%.

But Key is usually the more affordable option for drivers both with clean records and with a ticket, offering prices that are 5% and 25% less expensive, respectively, compared to MetLife.

Which Company is Best for Drivers After an Accident?

Both carriers will increase rates pretty significantly if you get into an at-fault accident with Metlife increasing by just under $150. Key has a less extreme increase, but you can still expect to pay $25 more than you were prior to your first collision.

Overall, drivers who use Key end up with the cheaper prices after an accident, with monthly premiums averaging $235 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 -- normally a lot more than a collision or speeding ticket. For example, Metlife increases average prices by over $250 a month -- that's over a 55% increase.

How does Credit Score Impact Key and Metlife Rates?

In many cases, your credit score can be used as one of the factors to calculate your monthly insurance premiums. This isn't always the case (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it might come into play for quite a few policyholders.

Auto insurance companies argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

Looking specifically at Key and Metlife, which one has the best rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Key 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 car insurance carriers will charge for coverage. Typically, the more miles you drive, the more you can expect to pay for insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Key charges. However, there's a small difference in monthly prices 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 yearly. Still, Key is the more affordable option for drivers in both categories.

Key vs. Metlife: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a big impact on your monthly car insurance payment. Generally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because of the small number of vehicles that are on the roads in those areas.

When comparing these two companies side-by-side, Key usually comes out as the cheapest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

In urban areas, Key Insurance Company's average premiums are around 1% less than MetLife. Drivers in suburban ZIP codes pay about 30% less with Key compared to Metlife. If you live in a rural area, you can expect to save around 22% with Key compared to Metlife.

Key vs. Metlife Discounts

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

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.

In the table below, we've taken a look at all of the different discounts Key and Metlife offer their customers so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

Metlife blows Key away when it comes to the sheer amount of discounts available, offering 36 different discounts to Key's four.

There are a couple discounts both carriers offer, but Metlife also offers AAA discounts, ABS discounts, academic discounts, and more that Key does not.

Key's discounts come through just a few categories, including Defensive Driver, Good Driving, Multi-Car, and more.

Final Thoughts: Is Key or Metlife Best for You?

So, we've broken down the average rates for many of the variables insurance companies look at, and walked through the different discounts each carrier offers, too. But, when it comes down to it, is Key or Metlife the best one for you, your vehicle, and your wallet?

Key might be best for you if....

• You have received a ticket within the last few years.
• Your neighborhood is in a city.
• You're buying auto insurance for a teen and looking for a wallet-friendly option.

Metlife might be best for you if...

• You already have a great credit score.
• You care about discounts (Metlife offers the most).
• You are over 65 years old and want to save some money on your car insurance.

We hope this guide helps you get a good idea of the differences between Key and Metlife and that you can now make a more informed decision when it comes to your insurance.

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

Key vs. Metlife FAQs

Is Key or Metlife cheaper?

Looking just at the national average prices, Key is the less expensive of the two carriers, offering average rates of $285 per month compared to $340 for Metlife. Even so, Key won't necessarily be the most affordable company for every driver, since there are a variety of different factors that come into play when it comes to your insurance bill.

Who is better, Key or Metlife?

Unfortunately, the real answer is "it depends.". No single carrier is necessarily "better" for each driver -- it all depends on what your unique car insurance profile looks like. For example, Key offers cheaper rates for drivers with a recent DUI, while Metlife is more affordable for drivers with excellent credit.

Why do Key and Metlife offer me different rates?

Insurance companies take a look at many different variables when calculating the premiums they charge drivers. Factors such as where you park your car, age, where your home is, gender, and sometimes even things like your credit score can all be taken into consideration. Both Key and Metlife use different formulas, so each one will most likely offer different prices. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a range of different carriers.

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

The only way to find the auto 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, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the lowest rate. And who knows, the best company for you might not be Key or Metlife at all!

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.