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

Quick Facts

• Based on national averages for car insurance, Metlife offers significantly less expensive premiums than Preferred Mutual
• Metlife has more affordable rates for drivers who have an at-fault accident on their record
• Preferred Mutual offers more affordable premiums for residents in Massachusetts and New York

Metlife vs. Preferred Mutual: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You might have narrowed it down to Metlife or Preferred Mutual for your next policy, but between the two, which one will save you the most?

Looking at nationwide averages, Preferred Mutual is quite a bit more expensive than Metlife, with prices averaging $542 per month compared to just $340 with Metlife.

However, Metlife may not be the lowest or best option for each driver out there. Insurance companies vary their rates depending on things like how old you are, how clean your driving record is, how good your credit score is, where you live, and tons of other factors, so premiums could change drastically from person to person.

Luckily, we've broken down average rates from both Metlife and Preferred Mutual by several different rate factors, so read on to find out which carrier is the best for you.

Metlife or Preferred Mutual: Average Car Insurance Rates by State

Metlife and Preferred Mutual only compete against each other in one states, with Preferred Mutual offering cheaper prices to the average driver in all of them. Massachusetts has the most noticable difference, where Preferred Mutual premiums are over 10% more affordable than auto insurance rates at Metlife.

That being said, there's a lot more that goes into your car insurance payment than just the state you live in. Read on 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 on the road. That's normally because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

That being said, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Metlife save nearly $150 a month compared to those who use Preferred Mutual. It's worth noting that Metlife offers car insurance in 44 different states compared to Preferred Mutual's two, which can skew the average prices a bit, but the difference here is still considerable.

Even so, with both carriers, you'll see your rates decrease significantly by the time you turn 25. For example, average prices for Metlife policyholders reduce more than $500 and Preferred Mutual's premiums drop about $500 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the most affordable auto insurance prices you'll ever find. After all, they've likely been driving for quite some time, which generally decreases their chances of accidents and other infractions that can increase premiums.

When looking at Metlife and Preferred Mutual specifically, which company is best for retired drivers? Metlife gets the edge, with rates for drivers 65 and older $193 less expensive than the national average for Preferred Mutual.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance premiums tend to be cheaper for married couples than they are for single policyholders. That's typically because married policyholders tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Metlife is the clear winner for those who are single, with prices around $181 per month more affordable than Preferred Mutual, on average. The advantage for married drivers with Metlife is also obvious, where drivers save almost $250 a month.

Metlife vs. Preferred Mutual: Average Rates by Gender

Men usually pay more for insurance than women. This is because women are less likely to get speeding tickets and get into accidents, which decreases the chances of an insurance claim.

Generally, women see rates about $30 per month cheaper with Metlife, and over $15 with Preferred Mutual.

Looking at the data for each carrier specifically, Metlife offers the cheapest average premiums for both men and women, with average prices 36% less for men and 39% cheaper for women.

Metlife or Preferred Mutual: 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.

Auto insurance isn't the easiest topic to understand. There are so many different coverages and limits that it can make it pretty confusing to find the right policy.

The two most common policies end up falling into two different types of coverage -- liability only (which provides property damage and bodily injury coverage for other drivers and passengers if you cause an accident) and full coverage (which generally refers to having comprehensive and collision coverages in addition to what you get with a liability policy).

If you're looking for state minimum liability insurance, Metlife normally offers slightly less expensive rates of $215 compared to Preferred Mutual's $234. When it comes to full coverage policies with similar limits, Metlife again has the edge, with policies around $400 a month more affordable than Preferred Mutual, on average.

Is Metlife or Preferred Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance companies offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that collisions and tickets lead to higher prices, but which company -- Metlife or Preferred Mutual -- has the lowest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Metlife policyholders can expect their prices to go up an average of $59 per month if they get a ticket, while Preferred Mutual usually raises premiums about $3 a month, on average.

But Metlife has cheaper rates for drivers in both categories. Drivers with a clean record can save around $169 per month and drivers with a speeding ticket can save about $113 a month with MetLife.

Which Company is Best for Drivers After an Accident?

Metlife drivers who get in a collision can expect to see their prices climb by just under $150, while those who have insurance through Preferred Mutual will see around a $95 increase.

Overall, drivers who use Metlife end up with the cheaper prices after an accident, with monthly premiums averaging $368 compared to Preferred Mutual's $486.

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 insurance bill. On average, Preferred Mutual will raise your rates about 57% after a DUI, while Metlife's average prices rise by over 55%.

Metlife has the overall most affordable premiums for drivers with a DUI on their records at $494 monthly, but it's worth noting that Metlife's average rates come from 44 states compared to just two for Preferred Mutual, so the data may be skewed slightly.

How does Credit Score Impact Metlife and Preferred Mutual Rates?

Often times, your credit score can come into play when carriers calculate your monthly bill. This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it will come into play for quite a few policyholders.

The reasoning car insurance companies use is that drivers with bad credit will be less likely to pay their bills on time; so typically, they'll be asked to pay more, while those with good credit will be rewarded with less expensive rates.

Looking at Metlife and Preferred Mutual specifically, which carrier has the cheapest premiums 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 Metlife. Drivers with "excellent" credit can save more than 55% compared to Preferred Mutual, and those with "good" scores can also expect to see savings -- around $295 or 52% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Metlife typically offers lower prices than Preferred Mutual when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about $313 per month less with Metlife compared to Preferred Mutual, and those with "poor" scores normally save an average of around $301 a month.

Is Metlife or Preferred Mutual 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 big impact on how much insurance carriers will charge for coverage? Generally, those who drive fewer miles will end up with less expensive rates since there's less of a chance of getting into an accident and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles every year, as well as those who average twice that figure, Metlife tends to be the more affordable option. Preferred Mutual average premiums for drivers with 6,000 annual miles come in about $202 more expensive than Metlife. Those who drive 12,000 miles annually can expect to pay around $201 more with Preferred Mutual over Metlife.

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

Where your home is can play a considerable role in how much you pay for auto insurance. Typically, 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.

Metlife boasts the most affordable average premiums in urban and suburban areas, while Preferred Mutual wins in rural areas.

If you live in a rural area, you can expect to pay about $253 per month with Preferred Mutual compared to Metlife's $299. Drivers in suburban ZIP codes pay a monthly price of around $333 with Metlife compared to $472 with Preferred Mutual. For drivers in urban ZIP codes, Metlife's average rates are about $389 a month compared to Preferred Mutual's $902.

Metlife vs. Preferred Mutual Discounts

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

But with what seems like a million different discounts out there, it can be difficult to find all the ones you qualify for or to nail down the company that has the most discounts for your unique driver profile.

In the section below, we've compared all of the different discounts offered by Metlife and Preferred Mutual so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Metlife blows Preferred Mutual away when it comes to the sheer amount of discounts available, offering 22 more discounts than Preferred Mutual.

Both companies offer several of the same discounts -- like annual mileage discounts, discounts for being a defensive driver, discounts for being a good driver, and mature driver discounts -- but Metlife also offers AAA discounts, academic discounts, agency transfer discounts, and more that Preferred Mutual does not.

On the flip side, Preferred Mutual has a couple unique discounts of its own -- DRL discounts and paid in full discounts.

Final Thoughts: Is Metlife or Preferred Mutual Best for You?

So, you've seen how different factors can affect your auto insurance prices. We've shown you all the discounts each carrier offers, too. But, when it comes down to it, is Metlife or Preferred Mutual the right fit for you?

Metlife might be best for you if....

• You've received a ticket for speeding recently and don't want to see your rates increase.
• You have less-than-stellar credit.
• Your neighborhood is in the suburbs.

Preferred Mutual might be best for you if...

• You like the personalized touch of a small, regional company.
• You live in a rural neighborhood.

We hope this guide helps you get a good idea of the differences between Metlife and Preferred Mutual. 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 several carriers, not just Metlife and Preferred Mutual. 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 insurance companies in your area, all in just a few minutes.

Metlife vs. Preferred Mutual FAQs

Is Metlife or Preferred Mutual cheaper?

Looking just at the national average prices, Metlife is the less expensive of the two carriers, offering average rates of $340 per month compared to $542 for Preferred Mutual. Even so, Metlife won't necessarily be the cheapest carrier for each policyholder, since there are a range of different variables that are considered when it comes to your car insurance cost.

Who is better, Metlife or Preferred Mutual?

Sadly, the real answer is "it depends.". One company is not necessarily "better" for every driver -- it all comes down to what your unique auto insurance profile looks like.

Why do Metlife and Preferred Mutual offer me different rates?

Insurance companies take a look at lots of different factors when calculating the premiums they charge policyholders. Things such as age, where you call home, gender, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Metlife and Preferred Mutual calculate prices using different variables, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from multiple different carriers.

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

The only way to find the car 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, sites like Compare.com make it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best auto insurance carriers in your area. With those, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Metlife or Preferred Mutual 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.