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

Quick Facts

• Based on national averages for insurance, Southern Farm Bureau offers significantly less expensive premiums than Metlife
• Metlife may help you save more money -- they offer more discounts than Southern Farm Bureau Insurance
• Southern Farm Bureau has cheaper prices for policyholders who are looking to purchase insurance with a spouse

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

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

You might have narrowed it down to Metlife or Southern Farm Bureau as your top options, but which one will offer you less expensive premiums?

As you can see, Southern Farm Bureau is quite a bit cheaper than Metlife, with prices averaging $103 a month compared to $340 with Metlife when looking at the national average rates for car insurance.

But Southern Farm Bureau may not be the lowest or best option for every single driver out there. After all, auto insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, your driving record, your credit score, or even where you call home (among other things), so rates could vary drastically from person to person.

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

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

Metlife and Southern Farm Bureau only compete against each other in Arkansas, where Southern Farm Bureau offers the cheaper average rates. Southern Farm Bureau drivers tend to pay about $341 per month less on average compared to drivers who use Metlife for their car insurance.

That being said, there's a lot more that goes into your insurance cost than just your home state. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for auto insurance compared to older drivers. The reason is that teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

However, that doesn't mean that teen drivers have to just accept sky-high insurance prices. For example, 18-year-old drivers pay an average of over 80% less a month by choosing Southern Farm Bureau over Metlife. It's worth noting that Metlife offers car insurance in 44 different states compared to Southern Farm Bureau's one, which can skew the average premiums a bit, but the difference here is still considerable.

That being said, both companies will drop prices by the time you turn 25. Southern Farm Bureau offers the steepest decrease, with 25-year-olds paying less than half what 18-year-old drivers are charged. Metlife's average rates decrease more than 70% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the most affordable insurance prices you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for auto insurance.

But who has the best rates for retired drivers between Metlife and Southern Farm Bureau? Southern Farm Bureau gets the edge, with premiums for drivers 65 and older $129 more affordable than the national average for Metlife.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly cheaper car insurance prices than those who are single. This usually boils down to married couples having several vehicles on their policy -- something several auto insurance carriers will reward with discounts.

For single policyholders, the difference in average rates between these two companies is significant, with Southern Farm Bureau prices coming in at around a quarter of Metlife's. The advantage for married policyholders with Southern Farm Bureau is also obvious, where drivers save almost 65% per month.

Metlife or Southern Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents, which means they'll generally end up paying more for insurance than women.

On average, women see rates nearly 10% a month less with Metlife, and about 6% less with Southern Farm Bureau when compared to their male counterparts.

When it comes to the cheapest premiums for each gender, Southern Farm Bureau comes out on top for both men and women. On average, male drivers save about $248 per month and women save around $226 with Southern Farm Bureau compared to the average Metlife policyholder.

Metlife vs. Southern 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.

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

Even so, most policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages alongside liability).

Looking specifically at state minimum limits for liability insurance, Southern Farm Bureau has the significant edge, with average monthly prices coming in at $54. If you want a full coverage policy with the same state minimum limits, Southern Farm Bureau again has the edge, with policies averaging about $151 a month to Metlife's $466.

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

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

At-fault collisions and speeding tickets will most likely raise your premiums, but is Metlife or Southern Farm Bureau more affordable for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Metlife for their car insurance can normally expect their monthly bill to go up around 21% after getting a speeding ticket. Southern Farm Bureau policyholders can expect a less drastic increase of about 8%.

That being said, Southern Farm Bureau has less expensive rates for drivers in both categories, offering premiums that are $131 and $182 cheaper, 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 just under $150, while those who have insurance through Southern Farm Bureau will see around a $25 increase.

At the end of the day, drivers who use Southern Farm Bureau end up with the cheaper prices after an accident, with average rates coming in at $116 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 ticket when it comes to your auto insurance bill. For example, Metlife increases average prices by more than $250 per month -- that's more than a 55% increase.

Southern Farm Bureau has the overall most affordable rates for drivers with a DUI on their records at $108 monthly, but it's worth noting that Metlife's average rates come from 44 states compared to just one for Southern Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Metlife and Southern Farm Bureau Rates?

In many cases, your credit score can come into play when carriers determine your monthly bill. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it does affect many policyholders out there.

The reasoning insurance carriers use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper premiums, while those with poor credit will typically be forced to pay more.

Looking specifically at Southern Farm Bureau and Metlife, which company has the best rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Southern Farm Bureau will generally reward you the most. For drivers with "excellent" credit scores, Southern Farm Bureau comes in nearly 67.57 less expensive. Drivers with "good" credit scores usually save about 69% with Southern Farm Bureau compared to average premiums from Metlife.

Which Company is Best for Drivers with Bad Credit?

Southern Farm Bureau typically offers lower prices than Metlife when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 69% a month less with Southern Farm Bureau compared to Metlife, and those with "poor" scores typically save an average of about 72% per month.

Is Metlife or Southern 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 considerable impact on your monthly rates? That's because the fewer miles you put on your car, the less likely you are to be in a collision and file an insurance claim.

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

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

Where you live can play a pretty big role in how much you pay for auto insurance. Usually, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers due to the number of cars that are on the roads where they live.

Southern Farm Bureau boasts the lowest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Southern Farm Bureau Insurance's average rates are about 72% less than MetLife. People who live in suburban areas pay around 65% less with Southern Farm Bureau compared to Metlife. Those in rural areas can expect to save about 72% with Southern Farm Bureau compared to Metlife.

Metlife vs. Southern Farm Bureau Discounts

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

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're eligible for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Metlife and Southern Farm Bureau so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

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

Both companies offer many of the same discounts -- like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but Metlife also offers discounts for AAA, ABS, academic, and more.

On the other hand, Southern Farm Bureau has a proprietary discount of their own -- a driver training discounts.

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

So, we've broken down the average premiums for many of the factors auto insurance carriers look at, and we've shown you all the discounts each carrier offers. But, at the end of the day, which company is the best fit for you?

Southern Farm Bureau might be best for you if....

• You will be the only person on the insurance policy.
• Your credit is less-than-stellar.
• You live in a rural neighborhood.

Metlife might be best for you if...

• You already have plans to move to another state -- Southern Farm Bureau Insurance only offers policies in AR.
• You want to save extra money with discounts.

Hopefully, this guide has ben a valuable resource as you compare Metlife and Southern Farm Bureau and that it aids in making a more informed 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 insurance -- comparing quotes from a handful of companies, not just Metlife and Southern Farm Bureau. Luckily, Compare.com does all the hard work for you. Just 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. Southern Farm Bureau FAQs

Is Metlife or Southern Farm Bureau cheaper?

Southern Farm Bureau is the more affordable of the two companies when looking at national average prices, with policies averaging $103 per month with Southern Farm Bureau and $340 for Metlife. However, that doesn't mean Southern Farm Bureau will be the cheapest carrier for every driver, since there are lots of different variables that come into play when it comes to your auto insurance bill.

Who is better, Metlife or Southern Farm Bureau?

Unfortunately, the real answer is "it depends.". Neither company is "better" for each policyholder -- it all boils down to your unique car insurance profile.

Why do Metlife and Southern Farm Bureau offer me different rates?

Auto insurance carriers use a lot of different factors when determining the premiums they charge. Things such as gender, age, your driving record, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both Metlife and Southern Farm Bureau calculate prices using different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the insurance company that's right for you is by getting quotes from several 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 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 price. And maybe you'll find that the best carrier for you isn't Metlife or Southern 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.