Metlife vs. North Carolina Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• In general, North Carolina Farm Bureau offers significantly cheaper prices than Metlife
• Metlife may help you save more money -- they offer more discounts than North Carolina Farm Bureau
• North Carolina Farm Bureau tends to be a much less expensive option for policyholders who live in rural neighborhoods

Metlife or North Carolina Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. With so many ads from all sorts of companies offering big savings, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to Metlife or North Carolina Farm Bureau as potential options, but between the two, which one will save you the most?

Looking at the national average rates for both carriers, North Carolina Farm Bureau is quite a bit cheaper than Metlife, with premiums averaging $130 a month compared to $340 with Metlife.

However, that doesn't necessarily mean North Carolina Farm Bureau will be the more affordable option for every single driver. After all, insurance companies can offer drastically different rates to every driver depending on rating factors like your driving record, your age, your credit score, or even where you call home (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 Metlife or North Carolina Farm Bureau 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.

Metlife vs. North Carolina Farm Bureau: Average Car Insurance Rates by State

Metlife and North Carolina Farm Bureau only compete against each other in North Carolina, where North Carolina Farm Bureau offers the cheaper average rates. North Carolina Farm Bureau drivers tend to pay about $22 per month less on average compared to drivers who use Metlife for their auto insurance.

There are plenty of other factors that go into your insurance bill 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 car insurance prices of any other group of drivers. It's typically because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean teen drivers can't still save money on their auto insurance. As you can see above, teens who use North Carolina Farm Bureau save over 80% a month compared to those who use Metlife. It's worth noting that Metlife offers insurance in 44 different states compared to North Carolina Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

But both carriers will offer you dramatically lower premiums by the time drivers turn 25. North Carolina Farm Bureau offers the steepest reduction, with 25-year-olds paying a third less what 18-year-old drivers are charged. Metlife's average prices lower more than 70% during that same period.

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 most affordable premiums out there.

But who has the best rates for retired drivers between Metlife and North Carolina Farm Bureau? North Carolina Farm Bureau gets the edge, with premiums for drivers 65 and older over 40% cheaper than the national average for Metlife.

Which is the Best Company for Married Drivers?

Did you know that insurance prices are normally more expensive for those who are single than they are for married policyholders? That's usually because married couples tend to own and insure multiple vehicles, which can often earn you a discount.

For single policyholders, the difference in average rates between these two companies is significant, with North Carolina Farm Bureau premiums coming in at around a third of Metlife's. The advantage is also clear for married drivers - North Carolina Farm Bureau offers the lowest average rates.

Metlife or North Carolina Farm Bureau: Average Rates by Gender

Women generally to pay less for auto insurance than men. This is because men are statistically more likely than women to get into collisions and get speeding tickets, which leads to increased risk for insurers and, therefore, higher prices.

On average, women see premiums about $30 per month less expensive with Metlife; and with North Carolina Farm Bureau, everyone ends up paying the same monthly prices regardless of gender.

Looking at overall affordability, North Carolina Farm Bureau offers the cheapest average rates for both men and women. On average, male drivers save about $224 a month and women save around $196 with North Carolina Farm Bureau compared to the average Metlife policyholder.

Metlife vs. North Carolina Farm Bureau: 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 car insurance can be pretty complicated. Everyone needs insurance, but there are so many different limits and coverages that it can be hard to find the right policy for you.

That being said, most policies end up falling into two different types of coverage -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability coverage).

Looking specifically at state minimum limits for liability insurance, North Carolina Farm Bureau has the significant edge, with average monthly premiums coming in at $78. If you want a full coverage policy with the same state minimum limits, North Carolina Farm Bureau again has the edge, with policies averaging about $182 per month to Metlife's $466.

Is Metlife or North Carolina Farm Bureau Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their car insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with speeding tickets and at-fault collisions on your record, but which of these two carriers offers the most affordable prices to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Metlife for their auto insurance can typically expect their monthly bill to go up around 21% after getting a speeding ticket. North Carolina Farm Bureau policyholders can expect a bit more drastic of an increase of about 29%.

However, North Carolina Farm Bureau is normally the more affordable option for drivers both with a ticket and with a clean record, offering rates that are 68% and 64% less expensive, respectively, compared to MetLife.

Which Company is Best for Drivers After an Accident?

Metlife drivers who get in an accident can expect to see their prices increase by over 40%, while those who have insurance through North Carolina Farm Bureau will see around a 30% increase.

At the end of the day, drivers who use North Carolina Farm Bureau end up with the cheaper prices after an accident, with average premiums coming in at $100 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 speeding ticket when it comes to your car insurance bill. On average, Metlife will raise your rates about 55% after a DUI, while North Carolina Farm Bureau's average prices climb by more than 70%.

North Carolina Farm Bureau has the overall cheapest rates for drivers with a DUI on their records at $250 per month, but it's worth noting that Metlife's average rates come from 44 states compared to just one for North Carolina Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Metlife and North Carolina Farm Bureau Rates?

Did you know many insurance companies take into account your credit score when determining premiums? This isn't true for everyone (Hawaii, for example, has banned the use of credit score as an insurance factor) but it does affect many policyholders out there.

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 more affordable rates.

Looking specifically at North Carolina Farm Bureau and Metlife, which carrier has the best prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, North Carolina Farm Bureau will generally reward you the most. For drivers with "excellent" credit scores, North Carolina Farm Bureau comes in over 56.31 cheaper. Drivers with "good" credit scores normally save around 59% with North Carolina Farm Bureau compared to average premiums from Metlife.

Which Company is Best for Drivers with Bad Credit?

North Carolina Farm Bureau typically offers lower rates than Metlife when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 63% a month less with North Carolina Farm Bureau compared to Metlife, and those with "poor" scores usually save an average of around 65% monthly.

Is Metlife or North Carolina Farm Bureau Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a pretty big impact on how much car insurance companies will charge for coverage? Generally, those who drive less will end up with less expensive prices since there's less of a chance of causing a collision and filing an insurance claim.

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

Metlife or North Carolina Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can have a substantial impact on your monthly insurance cost. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

North Carolina Farm Bureau tends to offer the most affordable premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, North Carolina Farm Bureau's average rates are around $269 less than MetLife. People who live in suburban areas pay about $190 less with North Carolina Farm Bureau compared to Metlife. Those in rural areas can expect to save around $173 with North Carolina Farm Bureau compared to Metlife.

Metlife vs. North Carolina Farm Bureau Discounts

No matter why you might be in the market for a new 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 auto insurance discounts as possible.

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Metlife and North Carolina Farm Bureau so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Metlife knocks North Carolina Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 36 different discounts to North Carolina Farm Bureau's three.

Both carriers offer lots of the same discounts -- like passive restraint discounts -- but Metlife also offers discounts for AAA, ABS, academic, and more.

On the other hand, North Carolina Farm Bureau has a few proprietary discounts of their own like paid in full discounts and protection plus discounts.

Final Thoughts: Is Metlife or North Carolina Farm Bureau Best for You?

You've seen the role certain variables have on your car insurance and the different discounts companies offer. But, when it comes down to it, is Metlife or North Carolina Farm Bureau the best company for you, your vehicle, and your wallet?

North Carolina Farm Bureau might be best for you if....

• You haven't received any speeding tickets or been in an accident in the last few years.
• You want the most robust protection via a "full coverage" policy.
• You want to save money while purchasing insurance for a teenager.

Metlife might be best for you if...

• You already have plans to move to another state -- North Carolina Farm Bureau is only available to North Carolina residents.
• You're looking for the company with the most discounts.

Hopefully, this guide has ben a valuable resource as you compare Metlife and North Carolina Farm Bureau and that it aids in making a more informed 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 several carriers, not just Metlife and North Carolina Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best insurance companies in your area, all for free.

Metlife vs. North Carolina Farm Bureau FAQs

Is Metlife or North Carolina Farm Bureau cheaper?

North Carolina Farm Bureau is the more affordable of the two carriers when looking at national average prices, with policies averaging $130 per month with North Carolina Farm Bureau and $340 for Metlife. But that doesn't mean North Carolina Farm Bureau will be the lowest carrier for everyone, since there are several different factors that come into play when it comes to your auto insurance payment.

Who is better, Metlife or North Carolina Farm Bureau?

Sadly, the answer truly is "it depends.". No single company is necessarily "better" for each policyholder -- it all depends on what your unique car insurance profile looks like.

Why do Metlife and North Carolina Farm Bureau offer me different rates?

Auto insurance companies use several different variables when calculating the rates they charge. Factors like gender, your driving record, age, where your home is, and sometimes even things like your credit score can all be used. Both Metlife and North Carolina Farm Bureau calculate premiums using different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from multiple different carriers.

How do I know if Metlife or North Carolina Farm Bureau is right for me?

The only way to find the insurance company that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the lowest price. And maybe you'll find that the best carrier for you isn't Metlife or North Carolina Farm Bureau 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.