MetLife vs. State Farm: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, State Farm offers significantly more affordable prices than MetLife
• MetLife offers more discounts than State Farm
• State Farm offers more affordable premiums for policyholders who have a short commute

MetLife vs. State Farm: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. With so many ads from all sorts of companies offering hefty discounts, you're probably wondering exactly how much you might be able to save.

You might be considering MetLife or State Farm for your next policy, but which company will offer you cheaper prices?

As you can see, State Farm is quite a bit cheaper than MetLife, with premiums averaging $158 per month compared to $340 with MetLife when looking at the national average rates for auto insurance.

But that doesn't mean State Farm will necessarily be less expensive than MetLife for each driver. Car insurance companies use all sorts of complex algorithms to calculate rates, so depending on how old you are or where you live (among multiple other factors), you could see wildly different premiums from the ones above.

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

MetLife or State Farm: Average Car Insurance Rates by State

MetLife and State Farm compete against each other in 44 states, with State Farm offering more affordable prices to the average driver in all of them. If you live in, undefined is the cheaper of the two carriers when looking at the overall average premiums, but State Farm is the cheaper option in most of the others.

There are plenty of other factors that go into your insurance payment than just your home state. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for auto insurance compared to older drivers. Typically, that's 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.

That being said, that doesn't mean that teen drivers have to just accept sky-high car insurance rates. Just look at the table above -- where 18-year-old drivers who have State Farm for their insurance pay more than $500 less than those who use MetLife.

However, with both companies, you'll see your prices reduce significantly by the time you turn 25. For example, average premiums for MetLife policyholders drop over $500 and State Farm's rates decrease about $200 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the cheapest car insurance prices out there. After all, they've likely been driving for quite some time, which normally decreases their chances of accidents and other infractions that can increase premiums.

So, which company offers the best rates to retired drivers? State Farm gets the edge, with prices for drivers 65 and older $94 less expensive than the national average for MetLife.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are typically more expensive for single drivers than they are for married couples? That's normally because married drivers tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, State Farm is the clear winner for those who are single, with premiums around $251 a month more affordable than MetLife, on average. The advantage is also clear for married policyholders - State Farm offers the lowest average prices.

MetLife vs. State Farm: Average Rates by Gender

Because men are more likely to get speeding tickets and get into collisions, they raise the chances of filing a claim with insurance. Therefore, men tend to get higher rates than women.

With MetLife, women usually pay nearly $30 per month less than men, and about $12 less with State Farm.

Looking at the data for each carrier specifically, State Farm offers the most affordable average premiums for both men and women, with average rates 54% less for men and 53% cheaper for women.

MetLife or State Farm: 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 insurance can be a complicated subject for most people. There are so many different terms and limits that it can make it pretty confusing to find the right policy.

The two most common policies that many drivers look at fall into two categories -- 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 liability).

If you're looking for state minimum liability insurance, State Farm usually offers significantly cheaper prices of $99 compared to MetLife's $215. When it comes to full coverage policies with similar limits, State Farm again has the edge, with policies around $250 a month less expensive than MetLife, on average.

Is MetLife or State Farm Better for Drivers with Spotty Records?

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

Tickets and collisions will most likely raise your prices, but is MetLife or State Farm cheaper for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

MetLife policyholders can expect their premiums to go up an average of $59 per month if they get a ticket, while State Farm generally raises rates about $21 a month, on average.

Even so, State Farm tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records. Drivers with a clean record can save around $86 per month and drivers with a ticket can save about $124 a month with State Farm.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through MetLife can expect to see around an $148 -- or about 40% -- increase in their insurance premiums. Drivers who use State Farm for their car insurance will see a monthly bill around $29 (or 18%) more expensive after reporting a collision to their insurance company.

Overall, State Farm offers the cheapest prices for drivers with an at-fault accident on their records, with monthly rates averaging $163 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 auto insurance bill. For example, MetLife increases average prices by over $250 per month -- that's over a 55% increase.

How does Credit Score Impact MetLife and State Farm Rates?

Did you know that many car insurance companies take into account your credit score when calculating premiums? This isn't always the case (for example, California and Michigan are two states that ban the practice entirely), but it might come into play for a lot of drivers.

The reasoning auto insurance carriers use is that policyholders 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 more affordable prices.

So, which carrier offers the best premiums for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is MetLife or State Farm Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in how much insurance companies will charge for coverage. Normally, the more miles you put on your vehicle, the more you can expect to pay for coverage.

For both drivers who put 6,000 miles on their vehicles each year, as well as those who average twice that figure, State Farm tends to be the less expensive option. State Farm's average rates for drivers with 6,000 annual miles come in about 55% more affordable than MetLife. Those who drive 12,000 miles annually can expect to pay around 52% less with State Farm over MetLife.

MetLife vs. State Farm: 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 car insurance, but the type of area you live in can have a big impact as well. Typically, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

When comparing these two carriers side-by-side, State Farm usually comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Policyholders in rural ZIP codes see the lowest premiums from both companies, but State Farm comes out on top with average rates about $127 a month. State Farm also has cheaper average prices for drivers in urban and suburban ZIP codes -- a 52% and 52% a month respective difference when compared to MetLife policyholders in similar areas.

MetLife vs. State Farm Discounts

Regardless of why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many insurance discounts as you can.

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

In the table below, we've broken down all of the different discounts offered by both MetLife and State Farm so that you can see which one can save you the most money each month.

MetLife blows State Farm away when it comes to the sheer amount of discounts available, offering 13 more discounts than State Farm.

Both carriers offer a lot of the same discounts -- like annual mileage discounts, discounts for being a defensive driver, distant student discounts, and discounts for being a good student -- but MetLife also offers AAA discounts, academic discounts, agency transfer discounts, and more that State Farm does not.

On the flip side, State Farm has a couple unique discounts of its own -- drive safe & save discounts, discounts for getting driver training, DRL discounts, and more.

Final Thoughts: Is MetLife or State Farm Best for You?

You've seen the effect certain factors have on your auto insurance and the different discounts companies offer. But, when it comes down to it, which carrier is the best carrier for you, your vehicle, and your wallet?

State Farm might be best for you if....

• You have received a ticket within the last few years.
• You live in an suburban area.
• You and your spouse are buying car insurance together.

MetLife might be best for you if...

• You want to save extra money with discounts.

We hope this guide helps you get a better idea of the difference between MetLife and State Farm. We also hope we've given you the information you need to make the best decision about your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple carriers, not just MetLife and State Farm. 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. State Farm FAQs

Is MetLife or State Farm cheaper?

Looking just at the national average premiums, State Farm is the less expensive of the two carriers, offering average rates of $158 per month compared to $340 for MetLife. But State Farm won't necessarily be the most affordable company for everyone, since there are a bunch of different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, MetLife or State Farm?

Sadly, the answer truly is "it depends.". No single carrier is necessarily "better" for everyone -- it all comes down to what your unique auto insurance profile looks like.

Why do MetLife and State Farm offer me different rates?

Car insurance companies take a look at lots of different factors when determining the rates they charge drivers. Things such as age, gender, where you park your car, your driving record, and sometimes even things like your credit score can all be used. Both MetLife and State Farm use different formulas, so each one will most likely offer different prices. The only real way to see which company is the lowest for you is by comparing personalized quotes from many different carriers.

How do I know if MetLife or State Farm is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from several companies 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 ZIP code 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 cheapest premium. And who knows, the best company for you might not be MetLife or State Farm 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.