MetLife vs. Nationwide: Which Company is the Best Fit for You?

Quick Facts

• In general, Nationwide offers significantly more affordable rates than MetLife
• MetLife offers more discounts than Nationwide
• Nationwide offers more affordable prices for policyholders who drive fewer than 12,000 miles yearly

MetLife vs. Nationwide: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed your search down to MetLife or Nationwide for your next policy, but which one has less expensive rates for insurance?

Looking at the national average rates for both companies, MetLife has average rates that are about 50% per month more expensive than those from Nationwide.

But Nationwide may not be the lowest or best option for every driver out there. Car insurance carriers vary their prices depending on things like how clean your driving record is, how good your credit score is, where you live, how old you are, and a variety of other factors, so premiums will vary quite a bit from person to person.

Luckily, we've broken down average prices from both MetLife and Nationwide by a range of different rate factors, so read on to find out which company is the best for you.

MetLife or Nationwide: Average Car Insurance Rates by State

MetLife and Nationwide compete against each other in 31 states, with Nationwide offering cheaper premiums to the average driver in all of them. If you live in, undefined is the less expensive of the two companies when looking at the overall average rates, but Nationwide is the cheaper option in most of the others.

That being said, there are plenty of other factors that go into your insurance bill than just where you call home. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any group out there on the road. The reason is that 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.

That being said, that doesn't mean that teen drivers have to just accept sky-high insurance premiums. For example, 18-year-old drivers pay an average of more than $500 less a month by choosing Nationwide over MetLife.

Even so, both carriers will lower prices by the time drivers turn 25. Nationwide offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. MetLife's average rates reduce over 70% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the most affordable auto 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 rates for car insurance.

When looking at MetLife and Nationwide specifically, which carrier is best for retired drivers? Nationwide gets the edge, with premiums for drivers 65 and older $80 cheaper than the national average for MetLife.

Which is the Best Company for Married Drivers?

Did you know that auto insurance prices are normally more affordable for married drivers than they are for single policyholders? That's generally because married policyholders tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Nationwide is the clear winner for those who are single, with rates around $233 per month less expensive than MetLife, on average. The advantage for married couples with Nationwide is also obvious, where drivers save more than $85 a month.

MetLife vs. Nationwide: Average Rates by Gender

Women normally to pay less for insurance than men. This is because men are more likely to get into collisions and get tickets, which raises the chances of an insurance claim.

With MetLife, women generally pay nearly 10% per month less than men, and about 7% less with Nationwide when compared to their male counterparts.

When it comes to the lowest premiums for each gender, Nationwide comes out as the cheapest option for both genders. On average, male drivers save about $178 a month and women save around $162 with Nationwide compared to the average MetLife policyholder.

MetLife or Nationwide: 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.

Car insurance isn't the easiest topic to understand. Everyone needs 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 includes two additional coverages -- comprehensive and collision -- in addition to what you get with a liability policy).

If you're looking for state minimum liability limits, Nationwide usually offers significantly cheaper rates of $112 compared to MetLife's $215. When it comes to full coverage policies with similar limits, Nationwide again has the edge, with policies about $250 per month more affordable than MetLife, on average.

Is MetLife or Nationwide Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their car insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that accidents and tickets lead to higher premiums, but which company -- MetLife or Nationwide -- has the most affordable prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

MetLife policyholders can expect their premiums to go up an average of $59 a month if they get a ticket, while Nationwide typically raises prices around $24 per month, on average.

However, Nationwide has cheaper rates for drivers in both categories -- their rates are around 43% more affordable for drivers with clean records and 47% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through MetLife can expect to see about an $148 -- or around 40% -- increase in their insurance prices. Drivers who use Nationwide for their car insurance will see a monthly bill about $53 (or 30%) more expensive after reporting a collision to their auto insurance carrier.

Overall, drivers who use Nationwide end up with the cheaper prices after an accident, with monthly premiums averaging $178 compared to MetLife's $368.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. For example, MetLife increases average rates by over $250 a month -- that's over a 55% increase.

If you have a DUI on your record and are looking for more affordable prices, Nationwide tends to be the much more affordable option with average rates of $230 a month compared to $494 from MetLife.

How does Credit Score Impact MetLife and Nationwide Rates?

Did you know that many car insurance companies take into account your credit score when calculating premiums? This isn't always the case (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it will come into play for quite a few drivers.

Auto insurance carriers argue that those with good credit scores are more likely to pay their bills on time each month, which reduces the risk involved on their end, while the opposite is true for those with bad credit.

Looking specifically at MetLife and Nationwide, which company has the cheapest rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Nationwide. Drivers with "excellent" credit can save more than 40% compared to MetLife, and those with "good" scores can also expect to see savings -- around $121 or 44% less expensive every month.

Which Company is Best for Drivers with Bad Credit?

Nationwide typically offers lower premiums than MetLife when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about $160 per month less with Nationwide compared to MetLife, and those with "poor" scores normally save an average of around $315 per month.

Is MetLife or Nationwide Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a big impact on how much insurance companies will charge for coverage. Usually, those who drive less will end up with cheaper prices since there's less of a chance of getting into a collision and causing an insurance claim.

Nationwide tends to be the less expensive option for both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure. MetLife's average premiums for drivers with 6,000 annual miles come in about 50% more expensive than Nationwide. Those who drive 12,000 miles each year can expect to pay around 50% more with MetLife over Nationwide.

MetLife vs. Nationwide: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can have a sizable impact on your monthly auto insurance payment. Generally, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers because there are a lot fewer vehicles on the roads in those areas.

Nationwide tends to offer the lowest prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

Policyholders in rural ZIP codes see the most affordable rates from both carriers, but Nationwide comes out on top with average prices about $151 monthly. Nationwide also has more affordable average premiums for drivers in urban and suburban ZIP codes -- a $190 and $174 a month respective difference when compared to MetLife policyholders in similar areas.

MetLife vs. Nationwide Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many car insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you can take advantage of.

Below, we've broken down all of the different discounts offered by both MetLife and Nationwide 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 Nationwide away when it comes to the sheer amount of discounts available, offering 36 different discounts to Nationwide's 22.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, EFT discounts, and discounts for being a good student. MetLife also offers AAA discounts, ABS discounts, academic discounts, and more that Nationwide does not.

On the flip side, Nationwide has a couple unique discounts of its own -- advance quote discounts, discounts for getting driver training, intra-agency transfer discounts, and more.

Final Thoughts: Is MetLife or Nationwide Best for You?

So, you've seen how different factors can affect your insurance prices. We've broken down the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, which insurance company is the right one for you and your specific profile and needs?

Nationwide might be best for you if....

• You're single and purchasing auto insurance by yourself.
• You're looking for more protection with "full coverage" car insurance.
• You're married and plan to have both of your names on the vehicle's insurance policy.

MetLife might be best for you if...

• You're looking for discounts -- MetLife has the most.

We hope this guide helps you get a good idea of the differences between MetLife and Nationwide. We also hope we've given you the information you need to make the best decision about your car 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 multiple companies, not just MetLife and Nationwide. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top car insurance carriers in your area, all in just a few minutes.

MetLife vs. Nationwide FAQs

Is MetLife or Nationwide cheaper?

Looking just at the national average premiums, Nationwide is the cheaper of the two companies, offering average rates of $170 per month compared to $340 for MetLife. But Nationwide won't necessarily be the lowest carrier for every driver, since there are a bunch of different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, MetLife or Nationwide?

Unfortunately, the only answer we can give you is "it depends.". No one company is necessarily "better" for everyone -- it all depends on the makeup of your unique auto insurance profile.

Why do MetLife and Nationwide offer me different rates?

Insurance carriers take a look at many different factors when determining the rates they charge drivers. Variables such as gender, where you call home, age, your driving record, and sometimes even things like your credit score can all be used. Both MetLife and Nationwide calculate premiums differently, so each one will most likely offer different prices. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from lots of different companies.

How do I know if MetLife or Nationwide is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from a handful of carriers 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 area information and you'll get free quotes from dozens of the best car insurance companies in your area. With those, you can guarantee you're getting the lowest premium. And who knows, the best carrier for you might not be MetLife or Nationwide 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.