Top 10 Best Car Insurance Companies With Cheap and Good Comprehensive In Texas
Top 10 Best Car Insurance Companies With Cheap and Good Comprehensive In Texas

Auto insurance is an important purchase, but finding cheap car insurance in Texas isn’t always easy. That’s why it’s important to compare rates from multiple insurers. Since car insurance is essential and required if you want to own a car here, we have compiled a list of the best car insurance companies with cheap prices and good service in the article below.

Car insurance required in Texas

Texas drivers are required to carry car insurance. Furthermore, any time you are behind the wheel, you must carry proof of this coverage which must be shown at the request of any law enforcement official. Those who do not carry the required coverage put themselves and could face some stiff penalties.

Minimum Liability Coverage: 30/60/25

  • Bodily injury liability: $30,000 per person
  • Bodily injury liability: $60,000 per accident
  • Property damage liability: $25,000 per accident

The above limits are mandated by Texas, though you could face further coverage from a lender or leasing company. Most will require you to carry physical damage coverage, often known as full coverage.

Liability coverage in Texas

Liability coverage is legally required in Texas and pays for bodily injuries and property damage that you cause in an at-fault accident. This coverage will also go toward paying for the injured party’s lost wages as well as pain and suffering. Please note that your own liability coverage will never pay for your injuries or damages to your own property.

How much will you be fined if you don’t have insurance?

Texas recently ended the “Texas Driver Responsibility Program” that imposed an extra $250 per year for three years after a number of offenses, including driving without insurance. However, anyone found guilty of driving without insurance in Texas will face the following penalties:

  • A fine between $175-$350 (up to $1,000 for second and subsequent offenses)
  • Possible impoundment of your vehicle
  • Possible filing of an SR-22 certificate
  • Possible suspension of the vehicle’s registration

Types of auto coverages in Texas

There are eight basic auto insurance coverages. You can choose whether to buy the others.

1.Liability coverage pays to repair the other driver’s car if you caused the accident. It also pays the other driver’s and his or her passenger’s medical bills and some other expenses. Texas law requires you to have at least $30,000 of coverage for injuries per person, up to a total of $60,000 per accident, and $25,000 of coverage for property damage. This is called 30/60/25 coverage.

Think about buying more liability coverage. The minimum liability limits might be too low if you cause a multi-vehicle accident or the other driver’s car is totaled. If you don’t have enough liability coverage to pay for the damages and injuries you cause, you might have to pay the rest out of your own pocket. The other driver could sue you.

2.Collision coverage pays to repair or replace your car after an accident.

3.Comprehensive (other than collision) coverage pays if your car is stolen or damaged by fire, flood, vandalism or something other than a collision.

4.Medical payments coverage pays your and your passengers’ medical bills. It also pays if you’re hurt while riding in someone else’s car or while walking or biking.

5.Personal injury protection (PIP) coverage is similar to medical payments coverage. It pays your and your passengers’ medical bills. But it also pays for things like lost wages and other nonmedical costs. All auto policies in Texas include PIP coverage. If you don’t want it, you must tell the company in writing.

6.Uninsured/underinsured motorist coverage pays if you’re hit by someone who didn’t have insurance or didn’t have enough to pay your medical and car repair bills. It also pays if you’re in a hit-and-run accident. Insurance companies must offer you this coverage. If you don’t want it, you must tell the company in writing.

7.Towing and labor coverage pays to tow your car if it can’t be driven. It also pays for labor to change a flat tire or jump-start your battery.

8.Rental reimbursement coverage pays for you to rent a car if yours is stolen or being repaired after an accident. Some policies also pay for taxis or ride-hailing services.

Minimum Texas Car Insurance Coverage

Texas requires drivers to carry at minimum the following auto insurance coverages:

Bodily injury liability: $30,000 per person and $60,000 per accident

Property damage liability: $25,000

Personal injury protection (PIP): $2,500 unless you reject this coverage

Uninsured motorist bodily injury: $30,000 per person and $60,000 per accident unless you reject this coverage

Uninsured motorist property damage: $25,000 and a $250 deductible unless your reject this coverage

While these are the minimum coverages Texas requires you to have, everyone's insurance needs are different.

List of 10 best car insurance companies in Texas with cheap price and good service

(According to MoneyGeek)

1. Farmers

2. USAA

3. State Farm

4. GEICO

5. AAA

6. Esurance

7. Allstate

8. Nationwide

9. Mercury

10. MetLife

*****

10 Best Car Insurance Companies in America With Cheapest Quotes and Good Services 10 Best Car Insurance Companies in America With Cheapest Quotes and Good Services

There are thousands of car insurance companies in the United States, and sometimes it is difficult to find the right ones with an affordable price ...

What are the best car insurance companies in Texas?

1. Farmers

Photo:  3Q Digital
Photo: 3Q Digital

Insurance companies like Farmers receive ratings from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC). According to these trusted services, Farmers has good to excellent customer satisfaction and financial stability ratings. People who value these factors may find Farmers car insurance an appealing option. When choosing the best car insurance company for you, it is best to shop around and compare quotes.

According to data provided by J.D. Power, Farmers earned a customer satisfaction rating of 816 out of 1,000 points. The industry average is 835, so Farmers' overall satisfaction level is lower than most competitors. These category-specific star ratings also rely on J.D. Power's data.

Farmers has a few state-specific discounts and rewards programs. Speak to a Farmers agent near you to see if these programs are available in your location.

Multi-policy discount: If you have more than one Farmers policy, you can earn a multi-policy discount.

Good driver discount: If you’ve avoided collisions for three to five years, you could earn a good driver discount on your Farmers auto policy.

Good student discount: If you or a driver on your policy has a GPA of 3.0 or better and is under the age of 25, you can earn a good student discount.

Homeowner discount: Depending on where you live, you can earn a small discount for your homeowner status with Farmers.

Affinity/membership discount: Certain occupations can receive a discount on a Farmers policy. Proof of occupation is usually required. This discount is subject to state regulations.

Farmers Insurance ranks as one of the top three cheapest car insurance companies in these states.

State

Monthly Premium

Idaho

$105

Texas

$105

Farmers home insurance options

Farmers home insurance offers a number of options for policyholders under their Smart Plan Home coverage. In general, coverage is split into three tiers. While all of them cover standard home insurance coverages like dwelling, other structures, personal property, medical payments, personal liability and additional living expenses, each will vary in its coverage levels and features.

Standard: The company states that this is a good coverage option for first-time homeowners with a moderately priced home. This package provides standard coverage only with the most affordable rates.

Enhanced: Those looking to expand their coverage beyond standard should look into this medium tier of coverage.

Premier: This package includes the highest level of coverage with higher limits and expanded coverage options. This includes guaranteed replacement cost coverage.

2. USAA

Photo:  time.com
Photo: time.com

USAA is among the cheapest and best auto insurance carriers in most states. That includes Texas, where it got a perfect score. Additionally, the insurance company offers unique features for qualified individuals. For instance, an active military member can enjoy a significant discount on their policy if they garage their vehicles on base.

USAA is consistently among the most affordable options across the country, including Texas. It has high scores in financial stability and customer service but is only available for current and former military members, according to MoneyGeek.

USAA’s auto insurance discounts:

  • Safe driver discount.
  • Defensive driving discount.
  • Discount for drivers younger than 21 who complete a basic driver training course.
  • Good student discount.
  • Discount if your car is 3 years old or less.
  • Multi-vehicle discount.
  • Discount if you drive relatively few miles in a year.
  • Vehicle-in-storage discount.
  • Family discount.
  • Length of membership discount.
  • Discount on comprehensive coverage when you garage your vehicle on a military base.
  • Multiple policy (bundling) discount.

USAA Auto Coverage

USAA offers full-coverage car insurance policies. Each state mandates the level of protection drivers need to have. Most states require liability coverage, which includes bodily injury and property damage. And your lender may require you to add comprehensive and collision coverage. With USAA, their basic policies include:

Type of Coverage

  • Collision

Pays for expenses to your car caused by a collision or rollover regardless of who is at fault.

  • Personal Injury Protection

Helps pay for auto accident expenses for you or your passengers, regardless of fault. Coverage generally includes medical, funeral, disability and lost income.

  • Uninsured

This type of bodily injury policy covers injuries to you and your passengers caused by a driver that has no insurance or by a hit-and-run driver. An uninsured or underinsured motorist property damage policy covers the damage to your vehicle if you are in an accident caused by a driver who has no insurance. In most states, damage caused by a hit-and-run driver is also included.

  • Liability

Provides protection for the injury or death of another person resulting from a car accident and damage to the other person's property.

3. State Farm

Photo: WGLT
Photo: WGLT

State Farm dominates in the auto insurance space with a market share of 16%. The insurance company's coverage spans the U.S. Those who prefer a more personal experience can easily get in contact with State Farm's network of agents. This popular insurance company also boasts good ratings from reputable third parties, with positive assessments of its customer satisfaction and financial outlook.

Coverage options and discounts for State Farm car insurance are comparable with those offered by other large companies — but those looking for an impressive selection of add-ons and extras could be found wanting.

Discounts based on the driver or vehicle

Multi-vehicle: Covering two or more vehicles with State Farm can lead to a multi-vehicle discount. While the amount of this discount may vary, State Farm advertises savings of up to 20%.

Accident-free: If you've been a State Farm customer for three continuous, accident-free years, you may qualify for this discount. The longer you are insured by State Farm without an accident, the bigger your discount will be.

Good driving: New policyholders with good driving records free of at-fault accidents and moving violations within the past three years can qualify for some savings.

Defensive driving course: Completing a driver safety course can lead to a discount. This discount may not be available in all states.

Driver training: Those who are under age 21 and drive your vehicle regularly can take an approved driver education course to be eligible for this discount.

Good student: Students who keep their grades up can get up to 25% off their policy.

Student away at school: If any students in your household leave home for school and are under 25 years old, you can get a discount since they'll be only seldomly driving the insured vehicle.

Vehicle safety: Insuring newer vehicles made post-1994 could result in some savings on medical-related coverage.

Passive restraint: For pre-1993 vehicles equipped with factory-installed airbags or other passive restraint systems, policyholders can qualify for some savings on medical-related coverage.

Anti-theft: Get this discount if your car has an alarm or other approved anti-theft device.

State Farm auto insurance coverages

State Farm auto insurance provides plenty of standard and optional coverage options, which vary by state and can be customized based on each customer’s needs. They include liability, comprehensive, medical payments, collision and uninsured or underinsured motorist coverage.

Type of Coverage

  • Collision

Collision coverage pays for damages if your car hits another vehicle or object or turns over in an accident.

  • Personal Injury Protection

State Farm may add personal injury to your coverage to protect you in case of an injury. However, you will need to contact your agent to add this feature to your policy.

  • Uninsured

When another person causes an accident and injures you and their insurance is not enough to compensate you for personal and property damages, you can use this coverage to make up the difference.

  • Liability

The standard liability coverage protects you if you injure someone or damage their property in an accident. This coverage from State Farm provides additional coverage than the state minimum, which may also not be enough to offer the requisite protection in case of an accident.

4. GEICO

Photo:  Insurance Journal
Photo: Insurance Journal

Established in 1936, GEICO is the second most popular insurance provider in the U.S. GEICO offers a wide variety of insurance products, including auto and motorcycle coverage. While GEICO is known for offering cheap auto insurance rates, its low premiums don't necessarily lead to poor customer service.

Discounts based on the driver:

Good driver: up to 26% — If you have a clean driving record for at least three years, you can earn this good driver discount.

Seatbelt use: 15% — This discount applies to your medical coverage or personal injury coverage. If you and your passengers always wear your seatbelts, you can earn up to 15% off.

Good student: 15% — If you or your student is aged 16 to 24 and has a GPA of 'B' or better, you can earn up to 15% off.

Driving education course: variable discount — If you’re a young driver, completing a driver's ed course can earn you a discount on most policies.

Defensive driving: varies by state — If you’ve completed an approved defensive driving course, you can receive a discount on your insurance policy.

Emergency deployment: 25% — If you’re in the military and are deployed, you can receive a discount that applies to your entire auto insurance policy.

Member and employee discounts: variable — Certain employers and memberships have relationships with GEICO which can earn you a discount. These can be based on occupation — such as police officers and firefighters — or alumni organizations.

Military discounts: 15% — Active and retired military members can earn up to 15% off an insurance policy with GEICO.

Federal employee discount: 8% — If you’re an active or retired federal employee, you qualify for the eagle discount by GEICO. In order to qualify, you need to be a GS-7 or above. This is available in most states.

Senior driver discount: discount varies — If you are over age 50, have been accident-free in the past three years, and have no drivers younger than 25 on your policy, you can qualify for this discount.

Discounts for bundling or insuring multiple cars

Multi-policy discount: variable — Having more than one policy -- such as your auto policy and homeowners insurance -- with GEICO can earn you a bundling discount. Bundling is a great way to get lower insurance rates. GEICO offers a number of such options, including bundling home and auto, renters and auto, or condo and auto insurance policies. The benefits of bundling insurance also include added convenience. Bundling your home policy and auto insurance can simplify your monthly bills. Check with an insurance agent to see about having your insurance needs met by the same company.

Multi-vehicle discount: 25% — Insuring more than one vehicle with GEICO can earn you up to 25% off your entire policy.

5. AAA

Photo:  Scream Agency
Photo: Scream Agency

Due to AAA’s network-like structure for auto insurance, it’s difficult to determine if it could rank alongside some of the best car insurance options. For example, AAA auto insurance companies have been rated by companies like J.D. Power and the National Association of Insurance Commissioners (NAIC), with average to above-average results, respectively. AM Best looked at the financial strength of AAA which scored an “A” rating.

Financial Strength

AM Best ranks insurance companies on their financial strength in order to determine how likely it is that they are able to pay out on claims made by customers. AAA’s “A” rating indicates that it’s stable, meaning the insurer is in a solid position to be able to meet the needs of its customers. However, keep in mind that this is not a warranty or guarantee of longevity.

AAA car insurance coverage options

AAA auto insurance offers standard coverage options you would expect from a car insurance carrier, including liability coverage (both bodily injury and property damage), comprehensive and collision and uninsured/underinsured coverage. However, the company also offers a number of other endorsements that can be added to your coverage, as well as a number of benefits from being a AAA member. Below, you'll find a variety of unique options offered by AAA, though keep in mind that some options may not be available in every state.

Accident forgiveness: Depending on your location, this coverage may come standard or be optional. Accident forgiveness through AAA prevents your insurance rates from increasing after your first at-fault accident.

Extended car rental expenses coverage: Most insurance companies offer rental car coverage that will limit the duration for which your rental costs are covered — even if your vehicle's repairs aren't yet complete. AAA's coverage will pay for your rental car until your vehicle is fixed.

Pet coverage: If your pet is injured in a car accident, AAA will pay up to $500 to cover veterinary bills.

12-month policy: This feature ensures your rate will not change for at least one year.

New vehicle replacement: If your vehicle is deemed a total loss within the first full year of coverage, AAA will replace it with a new car. Learn more about new car replacement insurance.

Limited loan/lease payoff: AAA will cover the remaining balance of your loan or lease if your vehicle totaled after a covered crash; this may also be known as gap insurance. This may occur if the claims check is for less than the value of the vehicle due to depreciation.

AAA car insurance discounts

Due to the nature AAA membership, a number of discounts exist for qualifying customers. Review common ways to save below.

Multi-policy discount: If you combine (or bundle) your auto AAA auto policy with a renters, homeowners, condo or life insurance policy, you can earn 9% to 22% off your insurance policy.

Multi-vehicle: Insuring all your vehicles with AAA can earn you 26% off your premium.

Advanced purchase: If you pay for your membership fees and premium seven or more days before your current policy’s expiration date, you can save 5%.

Longevity: If you’ve been with your current provider for three or more uninterrupted years, you can earn a 12% discount when you switch to AAA.

Paid in full: If you pay the sum of your policy upfront, you can earn a 5% discount.

Original owner: If you’re the original owner of your vehicle, you earn up to 5% off your premium.

Good student: If you’re a good student, you could save up to 15% on select coverage options.

Driver training: If you pass an approved driving course, AAA may drop your premium by as much as 3% on select coverages.

6. Esurance

Photo:  time.com
Photo: time.com

Esurance Insurance Services, Inc. is an American insurance company. It sells auto, home, motorcycle, and renters insurance direct to consumers online and by phone. Its primary competitors are other direct personal insurance writers, mainly GEICO and Progressive. Founded in 1999, the company was acquired by Allstate in 2011.

Esurance’s Car Insurance Bundling Discounts for Cheaper Insurance

Drivers can bundle auto insurance with renters insurance and bundle multiple vehicle policies to save more on their insurance premiums. Renters coverage starts at $14 per month on average with Esurance. When bundling auto insurance and renters insurance, policyholders can apply the Renters Plus discount for instant savings. Esurance policyholders who live in any of the 21 states in which Esurance offers renters insurance can log in to their account and add renters coverage to their policy.

Esurance vs. Geico

Despite Esurance being newer than Geico, Esurance and Geico are both strong auto insurance companies. However, while Geico is both digital and in-person, Esurance only offers online car insurance services. Additionally, when it comes to bundling discounts, Geico provides multi-car, home and car, and car and life bundling discounts, while Esurance only provides multi-car and renters bundling.

Esurance vs. Progressive

Esurance and Progressive both offer a variety of coverage and discount options. However, Progressive offers three more coverage options including accident-free deductible savings, custom parts and equipment replacement value, and rideshare options in more states. When it comes to discounts, Esurance provides more bundling options such as renters and auto bundling and multi-vehicle bundling options.

Esurance vs. USAA

The primary difference between USAA and Esurance is that USAA serves a specific demographic. Only those who have served in the military or who are related to someone who has served in the military can become a member of USAA. USAA, also scores high on customer satisfaction ratings with scores above 890 by J.D. Power across the studied regions, according to Reviews.

Customer Satisfaction Rating

According to data provided by J.D. Power, Esurance earned a customer satisfaction score of 836 out of 1,000. Considering that the industry average is 835, Esurance's rating is just barely above the score for a typical insurance company. These star ratings are also based on J.D. Power's data, showing how the company rates in several more specific areas.

AAA Auto Coverage

Your available coverages may vary depending on where you’re located. But the following are a few basic coverage types you will likely encounter with AAA.

Type of Coverage

  • Collision

Covers physical damage to your vehicle caused by a collision.

  • Personal Injury Protection

Covers basic expenses related to an accident.

  • Uninsured

Protection in the event you get in an accident with someone who doesn’t have car insurance.

  • Liability

Coverage for property damages or injuries caused by your vehicle.

7. Allstate

Photo: Allstate
Photo: Allstate

The Allstate Corporation is an American insurance company, headquartered in Northfield Township, Illinois, near Northbrook since 1967. Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993. The company also has personal lines insurance operations in Canada.

Allstate is a large corporation, and with 2018 revenues of $39.8 billion it ranked 79th in the 2019 Fortune 500 list of the largest United States corporations by total revenue. Its current advertising campaign, in use since 2004, asks, "Are you in good hands?", leveraging its well-established prior ads showing a suburban-styled dwelling, cradled protectively in a pair of presumably giant human hands.

Allstate Car Insurance Coverage

Bodily Injury Liability – This kind of coverage will pay for the bodily injury or death of someone who is hurt in an accident for which you are at fault. It can help pay for the costs associated with emergency medical aid at the scene, medical expenses, lost wages for the injured party, funeral expenses, and legal defense fees.

Property Damage Liability – If you cause property damage in an accident where you are at fault, this kind of coverage will pay for the repair or replacement of the damaged property. The coverage can help pay for the damages to structures such as homes and storefronts, the repair or replacement of stationary objects, and vehicle repair or replacement.

Collision Coverage: This type of coverage will pay for damages to your car as a result of an accident, regardless of who is at fault. Once you have met your deductible, your collision coverage can help pay to repair or replace your car if you hit another car or stationary object, or if your car is damaged in a parking lot.

Comprehensive Coverage: Comprehensive coverage will pay for damage to your car from causes other than accidents.

Medical Payment Coverage: This pays for the medical expenses of an insured driver and their passengers if any are injured because of an accident, no matter who is at fault in the accident. This kind of coverage can also potentially pay for medical expenses of the insured or their family members if they are injured as a pedestrian or as a passenger in someone else’s car.

Uninsured and Underinsured Motorist Coverage: Allstate’s uninsured motorist coverage and underinsured motorist coverage can help you pay for property damage or medical expenses that are a result of an accident where an uninsured or underinsured motorist is at fault. Twenty-one states and the District of Columbia require coverage for uninsured motorists, but only a handful require underinsured coverage.

Personal Injury Protection (PIP): PIP can help you pay for medical bills, hospital bills, and costs not covered by your health insurance if you are in an accident, including:

Income Continuation

Loss of Services

Funeral Expenses

Childcare Expenses

PIP is a legal requirement in 17 states.

8. Nationwide

Nationwide car insurance coverage options

Nationwide car insurance can likely provide all the coverage you need, whether you're seeking basic state-mandated liability coverages or full coverage insurance for a high-value vehicle. These coverages include comprehensive and collision coverage, uninsured motorist coverage, personal injury protection (where applicable), medical payments and more. Read on to find out more about some of Nationwide's unique coverage options.

Towing and labor coverage

Nationwide offers a roadside assistance package, providing 24/7 help to any policyholder stranded by an inoperable vehicle. Whether you’ve had an accident or you need a battery recharge, this coverage can get you moving again.

Vanishing deductible

Nationwide rewards motorists who have remained accident-free. For each year in which you aren't involved in a collision, Nationwide knocks $100 off your deductible, up to a maximum of $500. Learn more about vanishing deductibles.

Accident forgiveness

Nationwide understands that accidents happen. If you opt into accident forgiveness, Nationwide will forgive your first at-fault accident.

Total loss deductible waiver

If your vehicle is deemed a total loss, Nationwide will waive your comprehensive or collision deductible.

Coverage for Uber and Lyft

In order to protect customers who drive for Uber and Lyft, Nationwide offers rideshare coverage.

Rental reimbursement coverage

If your vehicle is damaged in a collision, this coverage will reimburse your rental car costs.

Gap coverage assistance

If your vehicle is totaled in an accident, gap coverage pays the difference in what you owe and your vehicle's depreciated market value.

How much does Nationwide car insurance cost?

Insurance Company

Average Monthly Cost

Nationwide

$90

Progressive

$104

State Farm

$108

USAA

$106

9. Mercury

Mercury Insurance is an insurance company formed out of Los Angeles, California in 1962 by Mr. George Joseph. Its goal is to provide quality insurance and customer service at fair prices for the average driver. There are plenty of large auto insurance providers out there, including USAA, Geico, and Farmers. Mercury sought to compete by providing affordable, competitive rates compared to these larger auto insurance groups.

Mercury passed $1 million in written premiums in a month in 1970, and they expanded from auto insurance to include homeowner’s insurance in 1972. The insurance company began expanding to other states in 1989. Today, Mercury Insurance Group specializes in auto insurance, home insurance, business insurance, renters and condo insurance, and mechanical protection.

The company’s slogan is, “Mercury provides everything you need in an insurance company.” For drivers or prospective customers interested in low car insurance rates, Mercury Insurance is worth considering.

Types of Coverage from Mercury

If you live in one of the 11 states Mercury currently operates in, the company may be worth considering. It has some of the more affordable car insurance rates for policyholders. The tradeoff for low costs though is spotty service and responses to claims. Customer satisfaction is mixed, especially with regard to homeowners insurance, which doesn’t always share the low rates of other insurers.

Mercury provides all the basics of auto insurance. While there is some state-by-state variance, most places require auto insurers to provide a certain level of coverage, such as collision, property damage, personal injury, uninsured and underinsured motorists, and comprehensive coverage. Mercury also covers liability protection, medical payments, and rental vehicles. Note that you must have either collision coverage or comprehensive coverage in order to add a rental car benefit to your insurance policy.

You can also get 24/7 roadside assistance as an add-on to your auto policy. It can provide you real-time status updates via text message on your request. Note that, while some insurance companies let you use roadside assistance regardless of which vehicle you’re in, Mercury auto insurance is only available on the car you’ve insured. Services covered under roadside assistance include recharging the battery, towing, changing tires, and helping you if you accidentally lock your keys inside the vehicle.

Also available is ride-hailing insurance, which charges customers a low daily rate to provide coverage for drivers of rideshare programs such as Uber or Lyft.

Mercury car insurance sells its policies through a network of independent agents. You can contact your local agent to find out which coverage options Mercury Insurance Group can provide for you.

10. MetLife

MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries. The firm was founded on March 24, 1868. MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

On January 6, 1915, MetLife completed the mutualization process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders. After 85 years as a mutual company, MetLife demutualized into a publicly traded company with an initial public offering in 2000. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia's Pacific region, Europe, and the Middle East. MetLife serves 90 of the largest Fortune 500 companies.

How Does MetLife Auto Insurance Rate?

MetLife scores highly on financial strength ratings, which reflects well on their ability to pay legitimate claims without issue. However, their ratings are usually average or below average for the quality of customer service. According to J.D. Power, MetLife auto insurance rates about average on a national level while consistently rating below average in many regional markets. While their features and discounts set them apart, some of the best car insurance companies in the country offer more attractive options.

Financial Strength

AM Best issues scores to insurance companies based on their financial strength. This is an indicator of their ability to pay claims. MetLife received an A+ rating. While this is not a warranty for policyholders, it denotes excellent financial strength.

MetLife insurance discounts and reward programs

It's smart to look for discounts when shopping for car insurance, and MetLife offers a few options to help lower your monthly premiums. Again, keep in mind these may vary depending on where you reside.

Deductible savings benefit: You can earn $50 for every year you don't make a claim (with a maximum sum of $250), which may be used toward your deductible for a covered loss.

Multi-policy discount: It's always smart to bundle your insurance policies from an insurer, as it can lead to discounted insurance rates. If you buy more than one type of insurance, e.g. auto and homeowners or auto and life insurance, MetLife offers up to 10% off on a bundle.

Multi-car discount: You can enjoy reduced rates if you insure more than two cars under the same policy. Consult your MetLife agent for details.

Good student discount: Your efforts in school can yield some savings when shopping for new car insurance. MetLife's good student discount is applicable for students under age 25 enrolled in high school, community college, full-time college, graduate school, and people in vocational or technical programs who meet MetLife's academic requirements.

Student away discount: Students younger than 25 can take advantage of this discount provided they meet MetLife's specific requirements: they must reside at an educational institution at least 100 miles from home and have limited access to the insured vehicle. This is a useful insurance discount if you are seldom behind the wheel, but want the assurance of having insurance coverage when you do need to drive.

Superior driver discount: MetLife rewards drivers with a discount if every person on the policy has an excellent driving record.

Defensive driver discount: If you have been licensed for at least two years and complete a MetLife-approved defensive driving course, you can be eligible for a discount that applies every year for three years. This course aims to teach and reinforce good driving habits and generally make you a safer and more defensive driver. You can even take this course online.

Safety and anti-theft devices discount: For installing a qualifying safety system or anti-theft device — like passive and active disabling systems — MetLife may reward you with a discount on your car insurance policy.

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