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

Quick Facts

• Looking at the national averages for car insurance, Meemic offers more affordable premiums than Metlife
• Meemic offers less expensive average prices for policyholders who may not have much of a commute
• Metlife offers more discounts than Meemic Insurance Company

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

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering huge discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Meemic or Metlife as your top options, but which carrier will save you the most?

Looking at nationwide averages, Metlife is about $59 more per month than Meemic.

However, that doesn't mean Meemic will necessarily be cheaper than Metlife for every driver. After all, insurance companies can offer drastically different rates to each driver depending on rating factors like your credit score, your age, where you call home, or even your driving record (among other things), so premiums could change drastically from person to person.

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

Meemic or Metlife: Average Car Insurance Rates by State

Meemic and Metlife only compete against each other in Michigan, where Metlife offers the cheaper average rates. For Michigan residents, Metlife offers car insurance for $233 a month on average. Meemic's average premiums come out to be over 20% more expensive, at $281 per month.

But there's more to calculating auto insurance rates than just where you call home. Keep reading to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for car insurance than any group out there on the road. Generally, that's because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. As you can see above, teens who use Meemic save more than $500 a month compared to those who use Metlife.

That being said, both carriers will reduce premiums once you turn 25. For example, average rates for Meemic policyholders decrease nearly 40% and Metlife's prices lower over 70% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Meemic and Metlife specifically, which company is best for retired drivers? Metlife gets the edge, with premiums for drivers 65 and older more than 25% more affordable than the national average for Meemic.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are normally cheaper for married couples than they are for those who are single? That's generally because married drivers tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Meemic is the clear winner for single drivers, with premiums around $137 per month less expensive than Metlife, on average. The advantage for married policyholders with Metlife is also obvious, where drivers save almost $45 a month.

Meemic vs. Metlife: Average Rates by Gender

Men are statistically more likely than women to get into collisions and get speeding tickets, which means they'll normally end up paying more for car insurance than women.

Men and women get the same monthly prices with Meemic, and about 8% less with Metlife.

Looking at the data for each carrier specifically, Meemic offers the lowest average premiums for both men and women. On average, women save about $45 per month and men save around $73 with Meemic compared to the average Metlife policyholder.

Meemic 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 pretty complicated. Everyone needs car insurance, but there are so many different terms and coverages that it can be hard to find the right policy.

The two most common policies end up falling into two different types of coverage -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which typically refers to having comprehensive and collision coverages in addition to liability).

If you're looking for state minimum liability insurance, Meemic usually offers slightly more affordable rates of $201 compared to Metlife's $215. When it comes to full coverage policies with similar limits, Meemic again has the edge, with policies about $100 a month cheaper than Metlife, on average.

Is Meemic or Metlife Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance companies offering great prices 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 tickets and accidents on your record, but which of these two carriers offers the most affordable premiums to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Meemic policyholders can expect their rates to go up an average of $100 per month if they get a ticket, while Metlife generally raises prices around $59 a month, on average.

Even so, Meemic tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records, offering premiums that are $44 and $3 less expensive, respectively, compared to MetLife.

Which Company is Best for Drivers After an Accident?

Meemic drivers who get in a collision can expect to see their prices rise by just under $75, while those who have insurance through Metlife will see about a $150 increase.

Overall, drivers who use Meemic end up with the cheaper prices after an accident, with monthly rates averaging $250 compared to MetLife's $368.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your auto insurance bill. For example, Metlife increases average premiums by over $250 per month -- that's over a 55% increase.

How does Credit Score Impact Meemic and Metlife Rates?

Did you know that many car insurance companies take your credit score into account when calculating prices? Certain states and carriers do not allow for credit score to be used as a rating factor, but it might come into play for lots of policyholders.

Insurance companies argue that those with good credit scores are more likely to pay their bills on time every month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

So, which company offers the best rates 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 Meemic 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 put on your vehicle 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 Meemic charges. However, there's a small difference in monthly prices for Metlife, with drivers who put 6,000 miles on their car annually paying around $3 less each month compared to those who drive 12,000 miles yearly. Still, Meemic is the cheaper option for drivers in both categories.

Meemic vs. 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 considerable impact as well. Usually, those who live in urban areas will pay more than policyholders in rural areas because there are a lot more vehicles on the roads in those areas.

Meemic boasts the most affordable average rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the cheapest prices from both companies, but Meemic comes out on top with average rates about $248 monthly. Meemic also has less expensive average premiums for policyholders in urban and suburban ZIP codes -- a 17% and 18% a month respective difference when compared to Metlife drivers in similar areas.

Meemic vs. Metlife Discounts

Regardless of why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as possible. That's where car insurance discounts comes into play.

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 Meemic and Metlife offer their customers so that you can find the company that has the most discounts and, therefore, the biggest savings.

Metlife knocks Meemic out of the park when it comes to the sheer number of discounts available, offering 28 more discounts than Meemic.

Both carriers offer many of the same discounts -- like anti-theft discounts, discounts for being a defensive driver, and discounts for being a good student -- but Metlife also offers AAA discounts, ABS discounts, academic discounts, and more that Meemic does not.

On the flip side, Meemic has a couple unique discounts of its own -- paid in full discounts and prior carrier discounts.

Final Thoughts: Is Meemic or Metlife Best for You?

So, we've broken down the average rates for many of the factors auto insurance companies 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, is Meemic or Metlife the best one for you, your vehicle, and your wallet?

Meemic might be best for you if....

• You have an at-fault collision on your record.
• You live in an urban area.
• You live in a rural area.

Metlife might be best for you if...

• You're looking for the company with the most discounts.
• You are over 65 years old and want to save some money on your insurance.
• You are purchasing your auto insurance with a spouse.

We hope this guide helps you get a better idea of the difference between Meemic 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 insurance policy is to compare quotes from multiple carriers, not just Meemic 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 auto insurance companies in your area, all for free.

Meemic vs. Metlife FAQs

Is Meemic or Metlife cheaper?

Looking just at the national average premiums, Meemic is the more affordable of the two carriers, offering average rates of $281 per month compared to $340 for Metlife. However, Meemic won't necessarily be the lowest carrier for everyone, since there are multiple different variables that are considered when it comes to your car insurance payment.

Who is better, Meemic or Metlife?

Unfortunately, the answer truly is "it depends.". One company is not necessarily "better" for everyone -- it all boils down to your unique insurance profile. For example, Meemic offers cheaper prices for single policyholders, while Metlife is more affordable for drivers who have already retired.

Why do Meemic and Metlife offer me different rates?

Auto insurance companies take a look at many different factors when determining the premiums they charge drivers. Variables such as where you live, where your home is, age, gender, and sometimes even things like your credit score can all be taken into consideration. Both Meemic and Metlife calculate prices using different factors, so each one will most likely offer different rates. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from a range of different carriers.

How do I know if Meemic 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 companies 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 ZIP code and you'll get free quotes from dozens of the best car insurance carriers in your area. With those, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Meemic 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.