metlife-home-insurance-review

MetLife could also be greatest identified for utilizing Snoopy and the Peanuts gang to promote its companies for over 30 years, however the firm additionally has an honest householders insurance coverage coverage to assist safe your most useful funding. Founded in 1868 by William P. Stewart, the Metropolitan Life Insurance Company had its beginnings promoting life and limb insurance coverage insurance policies to Civil War troopers. Today, it’s the largest supplier of funding merchandise, worker advantages and insurance coverage in sixty nations, with over 90 million prospects worldwide. The New York-based Fortune 500 firm provides aggressive charges, reductions and options that make insuring your own home a simplified course of.

For this MetLife dwelling insurance coverage overview, we in contrast the corporate’s protection, reductions, assist, accessibility, buyer satisfaction and assist utilizing the SimpleRating methodology to  decide if it is a dependable insurer for these on a price range throughout the world pandemic.

Best for alternative value protection – Metlife

True to the corporate slogan ‘Navigating Life Together,’ MetLife covers all areas of life with their in depth vary of insurance coverage insurance policies, providing reliability that has stood the take a look at of time.

  • Robust web site and academic sources
  • Wide vary of insurance policies and bundling choices
  • Excellent monetary stability
In the News
  • In November 2020, Switzerland’s Zurich Insurance Group AG launched a press release confirming that it’s within the technique of buying MetLife’s US property and casualty auto and residential insurance coverage enterprise for $4 billion. The deal is being executed by way of Zurich Insurance’s Farmer’s Group subsidiary and can mark MetLife’s exit from P&C insurance coverage.
  • In April 2020, amid the COVID-19 disaster, MetLife introduced its determination to reward present auto insurance coverage policyholders by refunding a part of their premiums. The P&C unit additionally moved to not cancel insurance policies upon failure to pay premiums till July 1, 2020.
  • In December 2019, MetLife began providing pet insurance coverage after buying PetFirst Healthcare, a pet medical insurance administrator. Speaking on the acquisition, Ramy Tadros, president of US Business for MetLife, mentioned that the deal would assist employers assist their workers by protecting sudden pet well being expectations.

What we like about MetLife

As a long-standing firm with success and expertise on its facet, MetLife has a number of causes to be one of many prime 15 insurance coverage corporations within the United States. 

America’s top-rated dwelling insurance coverage

  • Policies beginning at simply $25/month
  • Sign up in seconds, claims paid in minutes
  • Zero problem, zero paperwork

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Robust web site and academic sources 

Customer training is on the coronary heart of MetLife’s philosophy and to make this doable, the corporate has a extremely informative web site laden with instruments and sources about insurance coverage. Whether you’re a beginner attempting to be taught extra about how insurance coverage works or a house owner in search of solutions to queries about your coverage, the Metlife web site doesn’t allow you to down. 

Wide vary of insurance policies and bundling choices

MetLife provides all main insurance policies, starting from dwelling and auto to well being and dental to life insurance coverage. This paves the way in which for purchasers to buy all their insurance policies from the identical firm and save on premiums.

Excellent monetary stability

Having been round for 150 years, MetLife has established a stable monetary place that permits it to cost inexpensive charges and pay claims effectively. Unlike newer insurers but to attain such longevity, MetLife is a seasoned participant with a agency basis.

Who ought to get this coverage?

Homeowners searching for a dependable, time-tested insurance coverage firm with nice worth and customer support can not go unsuitable with MetLife. If you have already got one coverage from this firm, including a house owner’s insurance coverage protection might get you bundle reductions.

Things to contemplate

Compared to its extra fashionable contenders, MetLife typically leaves loads to need in some areas, and that features their on-line instruments.

No on-line quote or claims file

Many insurance coverage corporations right this moment supply prospects the choice to file claims on-line or by way of a cellular app. MetLife doesn’t, but it surely has a fax quantity and an e mail handle for submitting claims. It doesn’t have an internet software for quotes both, so folks have to name an agent to get an estimate. 

Who shouldn’t get this coverage?

People who need on-line dwelling insurance coverage declare submitting and instantaneous options to queries are going to search out MetLife missing in these areas. The firm nonetheless chooses to have prospects discuss to actual folks for assist than providing on-line instruments.

[ Read: The Average Cost of Home Insurance ]

What we analyzed 

To learn the way MetLife compares to main dwelling insurance coverage suppliers, our crew analyzed the reductions, protection, buyer satisfaction, assist and accessibility provided by this firm.

Discounts

One of the simplest methods to scale back the price of dwelling insurance coverage is by profiting from varied reductions provided by the insurer. MetLife’s householders insurance coverage reductions should not earth-shattering however they will help you save a whole bunch of {dollars} yearly.

  • Home security low cost: If a home is supplied with security gadgets similar to hearth alarms, sprinklers and burglar alarms.
  • Multi-policy low cost: If you mix your private home and auto insurance coverage insurance policies.
  • Superior dwelling low cost: If a home is beneath a yr previous.
  • Mature householders low cost: If you’re a retired particular person above the age of 55. 

Coverage

The protection choices included in your householders insurance coverage coverage depend upon elements similar to the scale and building of the home, location and susceptibility to inclement climate, amongst others. Having mentioned that, MetLife’s spectacular vary of protection choices has one thing for everybody.

  • Basic protection: MetLife’s customary dwelling insurance coverage plan consists of all primary options, together with dwelling, legal responsibility, private property, medical funds and lack of use protection choices.
  • Identity theft safety: All householders insurance coverage insurance policies by MetLife comes with identification theft safety at no added value. 
  • Guaranteed alternative value protection: If your own home is broken, MetLife pays the complete value to rebuild it, even when the quantity exceeds your protection restrict.
  • Scheduled private property safety: For precious possessions similar to artwork and jewellery not protected by the essential protection, you might be coated by the scheduled private property safety at an additional value.

Customer Satisfaction

One space the place MetLife falters is the client satisfaction ranking. In the 2019 dwelling insurance coverage research, J.D. Power rated it a 2 out of 5, which is beneath common primarily based on the expertise the purchasers have had with the corporate. On the NAIC’s nationwide criticism index, MetLife scores 1.64, the place 1 is the typical rating. Although this will appear excessive, do keep in mind that MetLife has the most important buyer base on the earth.

Support

Homeowners can handle their coverage and pay payments by way of the MetLife web site or the cellular app. However, the one methods to succeed in buyer assist are by way of telephone and e mail. MetLife doesn’t have an internet chat service or round the clock assist, in contrast to lots of its rivals.

Accessibility

You can not apply for a coverage, get quotes or file claims on-line or on the cellular app. For any of those considerations, you might want to name the telephone quantity listed on MetLife’s web site to speak to an agent, which can be time-consuming for busy folks.

[ Read: 3 Reasons Why You Should Get Flood Insurance ]

MetLife vs. the competitors 

To offer you a greater sense of MetLife’s efficiency in comparison with its rivals, here’s a record of three main insurance coverage corporations that provide householders insurance coverage insurance policies. Each of those suppliers has been evaluated for reductions, protection choices, accessibility, buyer satisfaction and assist to measure how they fare compared to MetLife.

As promised by the pleasant gecko, Geico’s complete insurance policies at low cost charges make householders completely satisfied

Geico is legendary for providing the most affordable charges, and although it lacks some protection choices, folks on a price range at all times discover inexpensive dwelling insurance coverage insurance policies with this Maryland-based firm. There can also be a variety of on-line instruments and a cellular app for submitting claims, getting quotes and reaching assist.

Read our full Geico overview.

To maintain you smiling like Flo, Progressive provides large reductions, handy on-line instruments and standout customer support

SimpleRating

4.2 / 5.0

SimpleRating Progressive 4.2

Not solely does Progressive cost affordable premiums, but it surely additionally makes the deal sweeter with a number of obtainable reductions, on-line instruments, and suggestions for a contractor if your own home is in want of restore. However, Progressive doesn’t underwrite most of its insurance policies and closely depends on middlemen.

Read our full Progressive overview.

For folks searching for easy dwelling insurance coverage merchandise, State Farm is there with constant buyer satisfaction and ease of entry.

State Farm could be identified for its auto insurance coverage insurance policies, but it surely additionally sells householders insurance coverage with the convenience of on-line assist and claims file, over 19,000 brokers for quotes and solutions, and discounted customary protection.

Read our full State Farm overview.

MetLife’s charges

Although MetLife doesn’t have the most affordable charges in the marketplace, its annual premiums are on a par with a number of the main insurance coverage suppliers right this moment. The worth of dwelling insurance coverage will depend on quite a lot of elements, together with location, age of home, alternative value, deductible quantity, claims historical past and inclement climate circumstances. MetLife doesn’t present quotes on-line, so one of the best ways to learn the way a lot it may cost to insure your own home is to speak to a consultant.

[ Read: Home Insurance Terms You Should Know ]

MetLife on-line and cellular app

While MetLife has a devoted web site and highly-rated cellular app providing academic sources for first-time consumers and instruments to simply pay payments and look at coverage paperwork, they lack a number of the most important capabilities similar to submitting claims, getting estimates and reaching buyer assist. Those who discover it extra handy to make use of instantaneous on-line companies over telephone calls could be at a drawback with MetLife.

America’s top-rated dwelling insurance coverage

  • Policies beginning at simply $25/month
  • Sign up in seconds, claims paid in minutes
  • Zero problem, zero paperwork

MetLife renters, auto and life insurance coverage

MetLife is a type of suppliers that carry most forms of insurance coverage merchandise, similar to auto, boat, life, renters, well being, dental, imaginative and prescient, pet, accident, incapacity and long-term care insurance coverage, amongst others. Some of its hottest choices are detailed beneath.

Renters insurance coverage 

MetLife’s renter’s insurance coverage coverage is supposed for tenants who need to be coated towards sudden and unexpected bills, from momentary dwelling to private property harm. Customers can customise their insurance policies to swimsuit their protection wants, select add-ons for precious belongings and have Identity Protection Services included at no further value. 

Life insurance coverage

Over the years, MetLife has grow to be identified for its employer-sponsored insurance policies. If your office has provisions for MetLife life insurance coverage insurance policies, it’d make sense to get one. Some of the advantages included in every life insurance coverage coverage are acceleration of dying, unintended dying, important sickness, incapacity waiver of premium and time period rider. 

Auto insurance coverage

MetLife’s auto insurance coverage insurance policies embrace protection choices that aren’t at all times obtainable with different suppliers. If you’re a brand new automobile proprietor or have glorious credit score rating, MetLife provides a number of the best charges and advantages like Gap insurance coverage, new automobile alternative, authorized price protection, usage-based insurance coverage, rideshare protection and particular elements alternative.

Bundling choices

Under MetLife’s Bundle and Save program, you could possibly save as much as $855 yearly by combining insurance policies. The firm provides bundling choices just for automobile house owners who’re additionally householders and vice versa.

[ Read: The Best Home and Auto Insurance Bundles 2020 ]

Too lengthy, didn’t learn?

As one of many longest-standing insurance coverage corporations, MetLife comes with the promise of monetary stability and provides customary householders insurance coverage, with the choice to customise insurance policies and benefit from bundling reductions. What it lacks in on-line instruments, it makes up with precious add-ons and aggressive charges.

We welcome your suggestions on this text and would love to listen to about your expertise with the insurers we suggest. Contact us at inquiries@thesimpledollar.com with feedback or questions.

The SimpleRating is a proprietary scoring metric we use to objectively evaluate services at The Simple Dollar.

For each overview, our editorial crew:

  • Identifies 5 measurable points to match throughout every model
  • Determines the ranking standards for every facet rating
  • Averages the 5 facet scores to provide a single SimpleRating

Here’s a breakdown of the 5 facet scores and their ranking standards for our evaluations on dwelling insurance coverage.

Why do some manufacturers have totally different SimpleScores on totally different pages?

To make sure the SimpleRating is as useful and correct as doable, we developed distinctive standards for each class we evaluate at The Simple Dollar. Since most manufacturers supply a wide range of monetary options, their services will rating in another way relying on what we’re scoring on a given web page.

However, it’s additionally doable for a similar product from the identical model to have a number of SimpleScores. For occasion, if we evaluate State Farm’s dwelling insurance coverage in line with our standards for one of the best dwelling insurance coverage, it scores a 3.8 out of 5. But once we evaluate State Farm in line with the standards for one of the best auto insurance coverage, it scores larger, for the reason that options the corporate provides can range by the kind of insurance coverage.

Discounts

We appeared on the variety of reductions every firm provides – extra reductions imply the next rating.

Coverage Options

We awarded larger scores to the businesses that provide extra protection choices.

Support

We awarded larger scores to corporations with essentially the most channels for buyer assist.

Customer Satisfaction

We leveraged the J.D. Power 2019 Home Insurance Satisfaction Study℠ to see how prospects rated their expertise with every firm. (If an organization wasn’t included in J.D. Power’s research, we skipped this facet and averaged the 4 remaining facet scores.)

Accessibility

We appeared on the stage of accessibility of every firm – the extra sources they’ve the upper their rating

Lena Borrelli is a Tampa-based freelance author who has labored with main business titans, similar to Morgan Stanley, Wells Fargo, and Simon Corporation. Her work has most not too long ago been printed on websites like TIME, ADT, Fiscal Tiger, Bankrate and Home Advisor, in addition to many different web sites and blogs world wide.

Reviewed by

  • Nashalie Addarich

    Nashalie Addarich

    Editor

    Nashalie Addarich is an editor for The Simple Dollar. She not too long ago made a profession swap from the authorized area, the place she was an legal professional in Washington, DC. In her free time, she enjoys studying new languages. You can even discover her editorial work on Reviews.com.