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

Quick Facts

• In general, Pekin offers significantly more affordable rates than Metlife
• Metlife may help you save more money -- they offer more discounts than Pekin Insurance
• Pekin offers more affordable premiums for single people who will be the only person on the auto insurance policy

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

Are you in the market for 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 have narrowed your search down to Metlife or Pekin for your next policy, but which company will save you the most?

As you can see, Metlife is quite a bit more expensive than Pekin, with rates averaging $340 a month compared to just $74 with Pekin when looking at the national average rates for insurance.

However, that doesn't mean Pekin will necessarily be less expensive than Metlife for every driver. After all, car insurance carriers can offer drastically different rates to every driver depending on rating factors like your driving record, where you call home, your age, or even your credit score (among other things), so premiums will vary quite a bit from person to person.

So, if you want to find out which of Metlife or Pekin is really the best for you, keep reading to see average prices for each carrier broken down by multiple different rate factors.

Metlife vs. Pekin: Average Car Insurance Rates by State

Metlife and Pekin only compete against each other in Indiana, where Pekin offers the cheaper average rates. Pekin drivers tend to pay about $235 per month less on average compared to drivers who use Metlife for their insurance.

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

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance premiums of any group out there on the road. That's because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Pekin for their insurance pay over 80% less than those who use Metlife. It's worth noting that Metlife offers auto insurance in 44 different states compared to Pekin's one, which can skew the average rates a bit, but the difference here is still considerable.

But both companies will offer you dramatically lower prices once you turn 25. Pekin offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Metlife's average premiums decrease 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 rates out there.

So, which company offers the best prices to retired drivers? Pekin gets the edge here, with average premiums coming in at around $58 per month compared to Metlife's $205.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are typically cheaper for married drivers than they are for single drivers? That's because policies for married policyholders normally cover more than one vehicle, which quite a few carriers will give you a discount for.

For those who are single, the difference in average prices between these two companies is significant, with Pekin premiums coming in at about a quarter of Metlife's. The advantage for married couples with Pekin is also obvious, where drivers save around $150 a month.

Metlife or Pekin: Average Rates by Gender

Men generally pay more for auto insurance than women. This is because men are statistically more likely than women to get into a collision or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher rates.

With Metlife, women usually pay about $30 per month less than men, and around $1 with Pekin.

When it comes to the lowest premiums for each gender, Pekin comes out on top for both men and women, with average prices 79% less for men and 77% cheaper for women.

Metlife vs. Pekin: 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 can be a complicated subject for most people. There are a range of different coverages that account for several different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause an accident.

That being said, most policies end up falling into two different types of coverage -- liability coverage (which provides bodily injury and property damage coverage for other drivers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with a liability policy).

Looking specifically at state minimum liability limits, Pekin has the significant edge, with average monthly rates coming in at $46. If you want a full coverage policy with the same state minimum limits, Pekin again has the edge, with policies averaging about $103 a month to Metlife's $466.

Is Metlife or Pekin Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto 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 collisions on your record, but which of these two carriers offers the most affordable prices to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Metlife for their insurance can typically expect their monthly bill to go up around 21% after getting a speeding ticket. Pekin policyholders can expect a less drastic increase of about 19%.

Even so, Pekin has less expensive premiums for drivers in both categories. With Pekin Insurance, drivers with a clean record can save around $166 per month and drivers with a ticket can save about $212 a month.

Which Company is Best for Drivers After an Accident?

Metlife drivers who get in an accident can expect to see their rates increase by over 40%, while those who have insurance through Pekin will see around a 25% increase.

At the end of the day, the more affordable prices come from Pekin, with average premiums coming in at $73 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 -- generally a lot more than a collision or speeding ticket. Metlife drivers usually see a 55% increase in their insurance prices after a DUI charge, while Pekin will normally climb rates by about 48%.

Pekin has the overall cheapest premiums for drivers with a DUI on their records at $104 monthly, but it's worth noting that Metlife's average rates come from 44 states compared to just one for Pekin, so the data may be skewed slightly.

How does Credit Score Impact Metlife and Pekin Rates?

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

Car insurance companies argue that those with poor credit scores are less likely to pay their bills on time each month, which raises the risk involved on their end, while the opposite is true for those with good credit.

Looking at Metlife and Pekin specifically, which carrier has the best rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Pekin will usually reward you the most. For policyholders with "excellent" credit scores, Pekin comes in nearly 78.38 cheaper. Drivers with "good" credit scores typically save around 78% with Pekin compared to average premiums from Metlife.

Which Company is Best for Drivers with Bad Credit?

Pekin typically offers lower rates than Metlife when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 78% per month less with Pekin compared to Metlife, and those with "poor" scores generally save an average of around 78% a month.

Is Metlife or Pekin Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a pretty big impact on your monthly insurance cost. That's because the more milage you drive, the more likely you are to be in an accident and file an insurance claim.

For both remote workers and those taking short commutes, Pekin offers less expensive premiums than Metlife. Pekin's average prices for drivers with 6,000 annual miles come in about 80% more affordable than Metlife. Those who drive 12,000 miles annually can expect to pay around 76% less with Pekin over Metlife.

Metlife or Pekin: 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 auto insurance, but the type of area you live in can have a substantial impact as well. Usually, those who live in urban areas will pay more than drivers in rural areas due to the number of vehicles that are on the roads where they live.

When comparing these two carriers side-by-side, Pekin normally comes out as the lowest option for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save about 77% with Pekin compared to Metlife. People who live in suburban areas pay around 80% less with Pekin compared to Metlife. For policyholders in urban ZIP codes, Pekin Insurance's average rates are about 78% less than MetLife.

Metlife vs. Pekin Discounts

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

But with what seems like a million different discounts out there, it can be hard to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.

Luckily, we did the hard work for you and compared all of the different discounts offered by Metlife and Pekin so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Metlife blows Pekin away when it comes to the sheer amount of discounts available, offering 36 different discounts to Pekin's 10.

There are a couple discounts both companies offer, but Metlife also offers discounts for AAA, ABS, academic, and more.

On the other hand, Pekin has a few proprietary discounts of their own for things like advance quote discounts, hybrid vehicle discounts, and paid in full discounts.

Final Thoughts: Is Metlife or Pekin Best for You?

So, we've broken down the average premiums for many of the variables car insurance carriers look at, and walked through the different discounts each company offers, too. But, at the end of the day, which insurance carrier is the right company for you and your specific profile and needs?

Pekin might be best for you if....

• You like the personalized touch of a small, regional company.
• You want the most robust protection via a "full coverage" policy.
• You live in a rural area.

Metlife might be best for you if...

• You value the experience that comes with a large national auto insurance carrier.
• You care about discounts (Metlife offers the most).

Hopefully, this guide helps you get a better idea of the difference between Metlife and Pekin and that it aids in making a more informed decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several companies, not just Metlife and Pekin. 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 auto insurance carriers in your area, all for free.

Metlife vs. Pekin FAQs

Is Metlife or Pekin cheaper?

Pekin is the less expensive of the two companies when looking at national average prices, with policies averaging $74 a month with Pekin and $340 for Metlife. That being said, that doesn't mean Pekin will be the most affordable company for everyone, since there are a variety of different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Metlife or Pekin?

Unfortunately, the only answer we can give you is "it depends.". Neither carrier is necessarily "better" for every policyholder -- it all comes down to what your unique car insurance profile looks like.

Why do Metlife and Pekin offer me different rates?

Auto insurance carriers use lots of different variables when calculating the rates they charge. Factors like your driving record, age, gender, where you call home, and sometimes even things like your credit score can all come into play. Both Metlife and Pekin calculate prices differently, so it's likely they'll offer different premiums. The best way to determine which company is the cheapest for you is by comparing personalized quotes from a bunch of different companies.

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

The only way to find the insurance carrier 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, Compare.com makes it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top car insurance companies for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Metlife or Pekin 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.