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

Quick Facts

• Looking at the national averages for car insurance, Mercury offers less expensive rates than Metlife
• Mercury offers more affordable average prices for single people who will be the only person on the insurance policy
• Metlife has cheaper premiums for drivers who have a speeding ticket on their driving record

Mercury or Metlife: Which Company has the Cheapest Car Insurance?

So, you're considering switching to 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 be considering Mercury or Metlife, but between the two, which company will offer you less expensive rates?

Looking at nationwide averages, Mercury has average rates that are around 13% a month more affordable than those from Metlife.

However, that doesn't necessarily mean Mercury will be the cheaper option for every driver. After all, auto insurance carriers can offer drastically different rates to every driver depending on rating factors like your credit score, where you call home, your age, or even your driving record (among other things). So, at the end of the day, prices from each company will differ quite a bit from person to person.

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

Mercury vs. Metlife: Average Car Insurance Rates by State

Mercury and Metlife compete against each other in 10 states, with Mercury offering more affordable rates to the average driver in all of them. If you live in, undefined is the cheaper of the two companies when looking at the overall average prices, but undefined is the cheaper option in most of the others.

There are plenty of other factors that go into your car insurance payment than just the state you live in. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance rates of any other group of drivers out there on the road. It's because teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

That being said, that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. As you can see above, teens who use Mercury save almost 25% per month compared to those who use Metlife.

But both carriers will reduce prices by the time drivers turn 25. For example, average premiums for Mercury policyholders drop nearly 70% and Metlife's rates lower over 70% over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best rates for retired drivers between Mercury and Metlife? Metlife gets the slight edge, with prices for drivers 65 and older about 6% less expensive than the national average for Mercury.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are usually more expensive for single policyholders than they are for married policyholders? That's because policies for married couples normally cover multiple vehicles, which quite a few companies will give you a discount for.

For those who are single, the difference in average rates between these two carriers is significant, with Mercury prices coming in at around 15% less than Metlife's. But for married drivers, that advantage is much less clear - Mercury offers the lowest average premiums , but the difference is only $7.

Mercury or Metlife: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they have a lower chance of filing a claim with insurance. So, women tend to pay less for car insurance than men.

With Mercury, men typically pay about $15 a month more than women, and almost $30 with Metlife.

Looking at overall affordability, Mercury comes out as the most affordable option for both genders, with average rates 15% less for men and 12% cheaper for women.

Mercury 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. Everyone needs car insurance, but there are so many different limits and terms that it can be hard to find the right policy for you.

Even so, most 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 a collision) 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, Mercury has the edge, with average monthly premiums coming in at $184. If you want a full coverage policy with the same state minimum limits, Mercury again has the edge, with policies averaging around $406 per month to Metlife's $466.

Is Mercury 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.

Speeding tickets and collisions will most likely raise your rates, but is Mercury or Metlife cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Mercury for their car insurance can normally expect their monthly bill to go up about 19% after getting a speeding ticket. Metlife policyholders can expect a bit more drastic of an increase of around 21%.

That being said, Metlife has more affordable prices for drivers in both categories, offering rates that are $17 and $15 less expensive, respectively, compared to Mercury Insurance.

Which Company is Best for Drivers After an Accident?

Both companies will raise premiums pretty significantly if you get into an at-fault collision with Metlife climbing by about 40%. Mercury has a less extreme climb, but you can still expect to pay more than 30% more than you were prior to your first accident.

At the end of the day, drivers who use Mercury end up with the cheaper prices after an accident, with average prices coming in at $346 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 collision or ticket when it comes to your auto insurance bill. On average, Metlife will raise your premiums around 55% after a DUI, while Mercury's average prices rise by over 20%.

How does Credit Score Impact Mercury and Metlife Rates?

You may not have known, but your credit score can come into play when carriers determine your monthly bill. This isn't true for everyone (Michigan, for example, has banned the use of credit score as an auto insurance factor) but it does affect many drivers out there.

Insurance companies 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.

Looking at Mercury and Metlife specifically, which carrier 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 Mercury 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 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 Mercury charges. However, there's a small difference in monthly prices for Metlife, with policyholders who drive the least paying about $3 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Mercury is the more affordable company.

Mercury 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. Usually, those who live in urban areas will pay more than drivers in rural areas since there are a lot more vehicles on the roads where they live.

Looking at these carriers side-by-side, Mercury tends to offer the most affordable option for drivers in rural and suburban areas, while Metlife wins in urban areas.

Those in rural areas can expect to pay around $209 monthly with Mercury compared to Metlife's $299. Drivers in suburban ZIP codes pay about $275 with Mercury compared to Metlife's $333 a month. For drivers in urban ZIP codes, Metlife's average prices are around $389 a month compared to Mercury's $401.

Mercury 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 where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you qualify for.

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

Metlife blows Mercury away when it comes to the sheer amount of discounts available, offering 36 different discounts to Mercury's 27.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, employee discounts, and group discounts. Metlife also offers discounts for AAA, academic, agency transfer, and more.

On the other hand, Mercury has a few proprietary discounts of their own for things like advance quote discounts, continuous insurance discounts, COVID-19 relief discount, and more.

Final Thoughts: Is Mercury or Metlife Best for You?

You've seen the role certain factors have on your auto insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, is Mercury or Metlife the best carrier for you and your specific driver profile?

Mercury might be best for you if....

• Your driving record contains an at-fault accident.
• You want the most robust protection via a "full coverage" policy.
• You are purchasing your car insurance with a spouse.

Metlife might be best for you if...

• You are considering moving to another state -- undefined only offers policies to residents.
• You care about discounts (Metlife offers the most).
• You're of retirement age and want to take advantage of lower premiums.

Hopefully, this guide has ben a valuable resource as you compare Mercury and Metlife and that it aids in making a more informed decision about your 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 auto insurance -- comparing quotes from several carriers, not just Mercury and Metlife. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top car insurance companies in your area, all in just a few minutes.

Mercury vs. Metlife FAQs

Is Mercury or Metlife cheaper?

Mercury is the less expensive of the two carriers when looking at national average rates, with policies averaging $295 per month with Mercury and $340 for Metlife. Even so, that doesn't mean Mercury will be the cheapest company for every policyholder, since there are a variety of different variables that come into play when it comes to your insurance bill.

Who is better, Mercury or Metlife?

Sadly, the real answer is "it depends.". Neither carrier is "better" for everyone -- it all boils down to your unique car insurance profile. For example, Metlife is cheaper for drivers who have already retired, while Mercury offers less expensive prices for single policyholders.

Why do Mercury and Metlife offer me different rates?

Auto insurance companies use a lot of different factors when determining the rates they charge. Variables like your driving record, age, where you park your car, gender, and sometimes even things like your credit score can all be taken into consideration. Both Mercury and Metlife calculate premiums using different factors, so it's likely they'll offer different prices. The best way to determine which company is the most affordable for you is by comparing personalized quotes from a bunch of different carriers.

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

The only way to find the insurance carrier that's right for you is by getting quotes from multiple 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 auto insurance carriers for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best company for you isn't Mercury 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.