MetLife Home Insurance Review 2020

Last modified: October 18, 2020
  • Claims 8
  • Buying 8
  • Transparency 8
  • Value For Money 9
  • Overall Rating 8.5
  • OVERALL RATING 8.3
  • Financial Strength A
  • BBB Rating A+
  • Coverages 4/5
  • Flexibility Policy customization availability
  • Discounts 4/5
  • Support Email, Phone, Fax
  • User Ratings ConsumerAffairs 3.1
  • Availability All 50 states
  • Pricing Average

About the Company

The Metropolitan Life Insurance Company or MetLife offers a wide range of coverage options, including homeowners, auto, and life insurance. The insurance company also offers coverage options through businesses to employees. 

Founded on March 24, 1868, in New York, the company has been a key player in the insurance industry for decades. MetLife employs more than 2,200 general contractors across the United States.

If you are considering MetLife for your insurance provider, we advise you to read MetLife home insurance reviews to find out about the company in detail. The more information you have in terms of coverage options, discounts, pricing, and other elements, the more confidently you’ll be able to decide.

How We Reviewed 

Our review is based on various essential factors that influence the customer’s experience with MetLife. 

We reviewed the website to ensure it provides customers with sufficient information. Customers should be able to reach the customer service department and claims department easily, so this was next on our list.

We also looked at the various coverage options with a focus on their home insurance policy and the related discounts they offer to reduce the premium coverage amount. 

Next up we reviewed their financial strength rating to determine where they stand in the home insurance industry. To that purpose, we checked out popular independent review websites. 

We looked at MetLife home insurance customer ratings to determine both the positive and negative sides of the deal. The review should help you decide if you want to apply for MetLife’s home insurance coverage or go with another home insurance company. 

Where Is It Available?

The MetLife locations include all 50 states, including the District of Columbia.

Home Insurance Coverage Options

MetLife home insurance provides users with several home insurance coverage packages: 

  1. Standard – offers you limited protection. 
  2. Platinum – similar to the standard coverage option with a few differences. 
  3. Grand Protect – offers excellent coverage and is what makes MetLife different from the rest. 

Here are the main and additional coverage options MetLife offers:

  1. Dwelling Coverage – They set this coverage at 100% of your estimated replacement cost. You can buy an extra percentage for each package. You will get increased flexibility with the GrandProtect package.
  2. Other Structures Insurance Coverage – This option gets better as you increase the percentage of your dwelling insurance coverage.
  3. Personal Property Insurance – This coverage improves as you increase your package, both in the valuation method and coverage limit.
  4. Loss of Use Coverage – This option increases as you upgrade your level protection.
  5. Personal Liability Coverage – This insurance option doesn’t change as you upgrade your level.
  6. Identity Theft Insurance Coverage – Other insurance companies usually offer this coverage as optional, but MetLife home insurance company offers it with every insurance policy.
  7. Water Backup Coverage – You can add this to your standard home insurance coverage, but it comes included with the two other packages and gives you up to $10,000 in coverage.
  8. Ordinance or Law Insurance Coverage – You receive protection against changes to laws or building codes and it comes with the two different coverage packages and you can add to the standard package. It is available at different limits.
  9. Personal Computer Insurance Coverage – With the standard package, you get coverage for your computer up to $5,000, and with the other two packages, there is no limit.  

MetLife Home Insurance Pricing 

The MetLife insurance estimate depends on which state you live in and the type of house you own. MetLife offers slightly higher rates than other home insurance companies. 

After taking out several MetLife insurance quotes by applying different factors such as the age of the house, type of neighborhood, nearby facilities, and credit card score, the average quote comes down to $2,042 each year. 

Coverage Amount Average Annual Premium
$50,000 to $200,000 $1,616
$200,000 to $400,000 $1,847
$400,000 to $600,000 $2,250
$600,000 to $800,000 $2,667
$800,000 to $1,000,000 $3,194

MetLife Home Insurance Discounts

MetLife insurance discounts include:

  • Protective devices discount saves you money if you equip your home with security and safety features such as a fire or burglar alarm, storm shutters, and fire sprinklers. 
  • Mature homeowner discount is designed for retired customers 55 and older.
  • A newly constructed home discount saves you money if you built your home within the last year.
  • Multi-policy discount applies if you bundle up your home insurance coverage with auto insurance coverage from MetLife.
  • Claims-free discount saves you money if you do not file a claim on your home insurance policy with MetLife for 5 or more years.
  • Group/employer discounts are available for groups and organizations that Metlife partners with. If you work for one of them, it applies to you.

Customer Satisfaction and Financial Strength Review

MetLife home insurance is rated as below average on the J.D. Power rating scale, scoring 2 out of 5.

 J.D. Power rated the insurance provider on various aspects such as its billing process, response time to rates, and policy information. In all these categories the company received a low score.

MetLife insurance rating from BBB is A+, which is above average. MetLife insurance rating from AM Best is an A, which is a stable and solid financial strength rating. On S&P, the company is rated an A.

 According to the National Association of Insurance Commissioners (NAIC) rating, MetLife insurance complaints are below average, which means that the insurance provider received more complaints than other insurance providers. 

Platform Rating
BBB A+
ConsumerAffairs 3.1
Trustpilot 2.5

 

Customer Support

If you have bought home insurance coverage on your own, call MetLife insurance customer service number at 1-800-422-4272. If you have bought the home insurance coverage through your employer, call MetLife insurance customer care number at 1-800-438-6381. 

The MetLife insurance customer service department is available 24/7. You can also contact the home insurance company by sending them an email at MET_CAT@metlife.com or via Twitter, @MetLifeCares

Ease of Buying and Claims Handling 

You can file a claim by calling MetLife insurance or sending them a fax or email. Their claims department operates 24/7. Your representative will start the claims process. You will be contacted by a claims specialist within 24 hours who will schedule an inspection of your property. 

Once they assess your property, the insurance provider will provide financial coverage and get items repaired or replaced. You’ll receive a two-year warranty if you choose a general contractor from MetLife’s network. The steps to file a claim include:

  • Contacting them at 1-800-854-6011
  • Sending information by fax or email at MET_CAT@metlife.com
  • Call at 1-800-759-8656 if you have sustained damage covered by flood insurance 

Comparison With Competitors 

To give you a better idea of the home insurance provider you should choose, we compared MetLife with some of its major competitors on the market.

Metlife vs Allstate 

Allstate offers higher insurance rates but has many discount offers. MetLife offers very few discounts. You can customize your Allstate home insurance coverage option as well. 

They offer the Rate Guard coverage, which keeps your rate the same after an accident and after you file your first claim. You’ll need to purchase it separately though. MetLife doesn’t offer any additional coverage like that. 

Metlife vs GEICO

GEICO doesn’t offer home insurance coverage to customers but connects you to one of their partners. The home insurance company has received good customer feedback whereas previous and current customers have said that MetLife’s customer service department could use some improvement. 

Metlife vs Progressive

Progressive doesn’t offer their own home insurance coverage options to homeowners, but they connect you to one of their partners.

 In the event you need to file a claim or have questions about their coverage policy, you will need to talk to the partner that they pair you with for home insurance coverage. 

With MetLife, you deal directly with the company to claim and get a quote.

Metlife vs State Farm 

State Farm offers more affordable home insurance than MetLife and other home insurance companies. They also have a good customer satisfaction rating on J.D. Power with customers saying that they are happy with the home insurance agents. 

If you judge insurance companies based on their customer service department, you should go with State Farm instead of MetLife.

Pros & Cons

The Pros

  • Excellent coverage for personal property, repairing or replacing stolen or damaged property without considering depreciation
  • Informative website with several resources
  • Wide range of financial services, auto insurance, and life insurance options for users to bundle up

The Cons

  • Need to call, email, or fax for a quote, claims filing, and information
  • No online tool to create a home inventory or ask for a quote.
  • The low rating on J.D. Power’s in several categories, including customer satisfaction

Final Verdict

MetLife offers 3 comprehensive insurance coverage packages. You can select the type of package you want based on the amount of homeowners insurance you need. The insurance company will decide the insurance premium based on size and the construction of the property, theft risk, weather risk, personal belongings, and the combined cost of all your items. 

You can also get identity protection coverage at no extra cost. You’ll receive replacement coverage for your home and personal belongings.

The downside of choosing them is that they rank low in the J.D. Power ratings and the process of contacting their customer service and claims department is troublesome.

They don’t offer an online quote tool or an online application, which you can fill and submit for a quote. Instead, you’ll have to contact them or ask them to arrange a consultation. If you need a quote quickly, the entire application process can take a lot of your time. 

FAQs

What is the new name for MetLife?

MetLife Inc. will call their United States retail unit by the name Brighthouse Financial. They will rename it once it separates from MetLife, its parent company.

How do I access my MetLife account online?

You can access your account by visiting the website. You have to create an account and then log in to access it.  

Does MetLife provide life insurance?

Yes, MetLife home insurance offers one-year term life insurance products. Their products are underwritten by Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company

Can I cash out my MetLife insurance policy?

MetLife’s permanent life insurance coverage options accumulate cash value. This means that each policy’s value will grow each year until it becomes the same value as your coverage option. You can access the cash via withdrawals or loans and you can use it for various purposes.

How do I check my MetLife status?

You can check the status of your claim by logging into your account and clicking on the track application. Enter your date of birth and the number assigned to your application to know the status of your claim.

How good is MetLife?

MetLife home insurance reviews show that the company provides good coverage options. Their home insurance policy offers full replacement costs regardless of how much the overall cost for building the house would be. In the customer service department, they fall short, earning average ratings on reputable review platforms.