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

Quick Facts

• Based on national averages for auto insurance, Pemco offers significantly less expensive prices than Metlife
• Metlife offers more discounts than PEMCO Insurance
• Pemco has cheaper premiums for drivers who have an at-fault accident on their record

Metlife vs. Pemco: 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 large discounts. But exactly how much can you save by switching?

You might have narrowed your search down to Metlife or Pemco for your next policy, but between the two, which company will offer you more affordable prices?

As you can see, Pemco is quite a bit cheaper than Metlife, with premiums averaging $107 per month compared to $340 with Metlife when looking at the national average rates for insurance.

Even so, Pemco may not be the cheapest or best option for every driver out there. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like your driving record, your age, your credit score, or even where you call home (among other things), so rates will differ quite a bit from person to person.

Luckily, we've broken down average premiums from both Metlife and Pemco by a bunch of different rate factors, so read on to find out which company is the best for you.

Metlife or Pemco: Average Car Insurance Rates by State

Metlife and Pemco only compete against each other in Washington, where Pemco offers the cheaper average prices. For Washington residents, Pemco offers auto insurance for $107 a month on average. Metlife's average rates come out to be over 70% more expensive, at $351 per month.

But there's more to calculating insurance premiums than just your home state. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

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

However, that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. As you can see above, teens who use Pemco save more than $500 a month compared to those who use Metlife. It's worth noting that Metlife offers car insurance in 44 different states compared to Pemco's one, which can skew the average rates a bit, but the difference here is still considerable.

That being said, both carriers will lower prices by the time drivers turn 25. Pemco offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. Metlife's average premiums decrease over 70% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the lowest 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 auto insurance.

When looking at Metlife and Pemco specifically, which carrier is best for retired drivers? Pemco gets the edge, with premiums for drivers 65 and older $114 less expensive than the national average for Metlife.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be cheaper for married couples than they are for single policyholders. That's because policies for married policyholders normally cover more than one car, which lots of companies will offer you a discount for.

When it comes to relationship status, Pemco is the clear winner for single drivers, with prices about $311 per month more affordable than Metlife, on average. The advantage for married drivers with Pemco is also obvious, where drivers save nearly $150 a month.

Metlife vs. Pemco: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents. That means when it comes to auto insurance men will typically end up paying a little more.

On average, men see premiums around $30 per month higher with Metlife, and about $4 with Pemco.

Looking at overall affordability, Pemco comes out on top for both men and women. On average, women save about $221 a month and men save around $245 with Pemco compared to the average Metlife policyholder.

Metlife or Pemco: 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 auto insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

But most 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 -- alongside liability).

If you're looking for state minimum liability insurance, Pemco generally offers significantly less expensive prices of $62 compared to Metlife's $215. When it comes to full coverage policies with similar limits, Pemco again has the edge, with policies about $300 per month cheaper than Metlife, on average.

Is Metlife or Pemco Better for Drivers with Spotty Records?

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

You'll probably end up paying more with at-fault accidents and tickets 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?

Metlife policyholders can expect their rates to go up an average of $59 a month if they get a ticket, while Pemco normally raises prices around $16 per month, on average.

Even so, Pemco has more affordable rates for drivers in both categories -- their rates are around 61% cheaper for drivers with clean records and 64% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Metlife drivers who get in a collision can expect to see their premiums climb by just under $150, while those who have insurance through Pemco will see about a $25 increase.

Overall, Pemco offers the cheapest prices for drivers with an at-fault collision on their records, with monthly rates averaging $111 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. On average, Metlife will increase your premiums around 55% after a DUI, while Pemco's average prices increase by over 35%.

Pemco has the overall lowest rates for drivers with a DUI on their records at $131 monthly, but it's worth noting that Metlife's average rates come from 44 states compared to just one for Pemco, so the data may be skewed slightly.

How does Credit Score Impact Metlife and Pemco Rates?

Often times, your credit score can be used as one of the variables to calculate your monthly car insurance premiums. This isn't always the case (for example, Michigan and Hawaii are two states that ban the practice entirely), but it will come into play for a lot of policyholders.

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

Looking at Metlife and Pemco specifically, which one has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Pemco. Policyholders with "excellent" credit can save more than 70% compared to Metlife, and those with "good" scores can also expect to see savings -- about $192 or 70% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Pemco typically offers lower rates than Metlife when it comes to drivers with bad credit. Drivers with "fair" credit pay around $233 a month less with Pemco compared to Metlife, and those with "poor" scores usually save an average of about $352 per month.

Is Metlife or Pemco 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 considerable impact on how much car insurance carriers will charge for coverage? Typically, the more miles you drive, the more you can expect to pay for insurance.

For both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure, Pemco offers less expensive premiums than Metlife. Metlife's average rates for drivers with 6,000 annual miles come in just under $250 more expensive than Pemco. Those who drive 12,000 miles annually can expect to pay nearly $250 more with Metlife over Pemco.

Metlife vs. Pemco: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a sizable impact on your monthly car insurance cost. Usually, those who live in rural areas will pay less than drivers in urban areas because of the small number of vehicles that are on the roads in those areas.

Pemco tends to offer the most affordable prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Pemco offers premiums around $115 monthly compared to Metlife's $389. People who live in suburban ZIP codes can expect to pay about $119 per month for Pemco and $333 for Metlife. Lastly, those in rural areas tend to get the cheapest prices from both companies, with average monthly premiums coming in at $88 and $299 for Pemco and Metlife respectively.

Metlife vs. Pemco 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 auto insurance discounts as you can.

The difficult part is finding all of the discounts you qualify for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

In the section below, we've compared all of the different discounts offered by Metlife and Pemco so that you can find the carrier that has the most discounts and, therefore, the biggest savings.

Metlife knocks Pemco out of the park when it comes to the sheer number of discounts available, offering 36 different discounts to Pemco's 12.

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

On the flip side, Pemco has a couple unique discounts of its own -- advance quote discounts, low mileage discounts, and paid in full discounts.

Final Thoughts: Is Metlife or Pemco Best for You?

You've seen the effect certain factors have on your insurance and the different discounts carriers offer. But, at the end of the day, which insurance carrier is the best one for you and your specific driver profile?

Pemco might be best for you if....

• You have a speeding ticket on your driving record.
• Your home is located in the suburbs.
• You drive often but have a short commute.

Metlife might be best for you if...

• You value the experience that comes with a large national car insurance company.
• You're looking for discounts -- Metlife has the most.

We hope this guide helps you get a better idea of the difference between Metlife and Pemco and that you can now make a more informed decision when it comes to your auto 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 Pemco. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top insurance carriers in your area, all in just a few minutes.

Metlife vs. Pemco FAQs

Is Metlife or Pemco cheaper?

Looking just at the national average rates, Pemco is the more affordable of the two companies, offering average rates of $107 a month compared to $340 for Metlife. But Pemco won't necessarily be the lowest carrier for everyone, since there are many different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Metlife or Pemco?

Unfortunately, the answer truly is "it depends.". Neither company is "better" for every driver -- it all depends on the makeup of your unique auto insurance profile.

Why do Metlife and Pemco offer me different rates?

Insurance carriers take a look at several different factors when calculating the premiums they charge drivers. Things like where you live, where you park your car, gender, age, and sometimes even things like your credit score can all be used. Both Metlife and Pemco calculate prices using different formulas, so each one will most likely offer different rates. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from multiple different companies.

How do I know if Metlife or Pemco 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, Compare.com does all the hard work for you. Just enter your information once and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Metlife or Pemco 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.