What is metropolitan auto insurance?

Think you don’t know Metropolitan Auto Insurance? Think again. It’s more commonly seen with a very recognizable cartoon dog made popular by Charles Schultz.

Metropolitan Auto Insurance is the official name for Met Life Auto insurance. You may be more familiar with their life insurance line of products. Even so, it’s worth giving them a look for your vehicle coverage.

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Travel Confidently

Sell auto insurance they do, and their long-standing good reputation in the industry makes them a great prospect for your next auto insurance policy. It’s sheer size means that it serves all 50 states and Marshall Islands and the Virgin Islands.

learning about metropolitan-auto-insurance

That’s a plus for drivers who may be moving from one state to another and do not want to switch car insurance providers.

Additionally, having a carrier whose coverage follows you throughout the 50 states and the listed island groupings can travel freely.

It takes away some of the concerns for how a claim might be handled in another state.

Great, but how likely are they to have the money to pay claims?

Did You Know?

If you hold car insurance in the USA then you can drive freely within Canada, without buying additional coverage.If you are going south, through Mexico, you need to buy Mexican auto insurance!

MetLife Flush with Cash to Pay Claims

MetLife Auto has the financial wherewithal and funds to pay on claims, according to the various credit rating agencies. They fall in line with A-ratings, which is near the top of the heap. Customers are consistently satisfied with their claims experience as well.

Reel in Premiums

metropolitan-auto-insurance-factsOne area that might be a lot to handle is the premium pricing. In some states, insurance is so pricey that it is always worth shopping around every time the policy comes due.

Whether you live in a state with many uninsured drivers or a high population density with no-fault (read: more expensive insurance), rates may be three to five times what they are in a liability-only and more rural state.

Short of moving away to a lower-premium (and possibly lower-wage-paying state), change your mindset. Instead, be a proactive shopper.

Get as many quotes as possible and play around with the coverage amounts until you save money and can afford your coverage.

Shop for the Best Quotes

Start by naming the insurance needs you have to meet. Sure, you have the state minimum coverage. Add in any requirements from the leasing company or lender, if you have a car loan or note. Make sure you are buying adequately to cover your assets.

Great, you have done all that. You are considering switching cars, because the sports car and SUV are just too expensive to insure. Buying another car is an excellent time to shop around for insurance coverage. You might be surprised just how much the pricing differs among different vehicle classes and sizes.

Compare Premiums When Getting a New Car

Most people assume that when they buy a newer car their insurance automatically will go through the roof. It’s not necessarily the case.

In particular, people who trade in heavier vehicles that can translate into more fatalities and property damage for a smaller, but safer vehicle can save money.

Take the list of vehicles you are interested in and look at them from the practical standpoint. In other words, how much will it cost to insure each vehicle on your wish list.

The reason? You will be reminded of just how costly or financially easy it is to own your car long after the new car scent has faded. In other words, you will be paying for insurance for the life of the new car. It’s sometimes better to feel financially confident time and again as the insurance policy comes due.

ratings-of-metropolitan-insuranceFactors in Pricing Insurance for New Cars

  1. Safety Rating
  2. Security Rating
  3. Parts Pricing
  4. Price Tag

Achieving ideal safety ratings is one way to force insurance costs down. While a safer car will not necessarily stop accidents, it can reduce the degree of injuries and even prevent fatalities.

Not only does it make financial sense, but it may keep your priceless valuables — you and your family and friends — safe.

Security is another big factor in how much the premiums will run with any insurer. Why? Well, if your car is on the thieves hot list, then it is a target for being stolen.

If that happens, the car insurance carrier pays out a claim, which means that they are out money. In response, they increase your insurance rates. They do charge you higher rates up front too, in anticipation of such theft, rather than waiting for your car to be stolen.

If your car is involved in an accident then the carrier will have to pay out benefits to have it fixed. If the parts are made in Belize, then they have to ship all the parts. Additionally, if you have a rare and particularly pricey vehicle model, the mechanic who can fix the car may be hugely expensive and a rarity too.

The initial selling price of the vehicle also impacts insurance rates. If the carrier has to replace your vehicle if, it costs the insurer more money to replace it. A more expensive vehicle costs them more to replace.

Limiting Driver and Vehicle Costs

Have a teenager who is just learning to drive? Particularly in pricey states, you may want to hold off on putting them onto the household policy. One tip here is that many parents check out premiums for the teenager to have their own policy. You know what? Sometimes they save a bundle just by separating out junior’s insurance from their own.

Other parents have found that their inexperienced drivers are too costly, even with discounts for good grades or defensive driving courses. In those cases, parents and kids agree that maybe junior can wait on having insurance and a car until after college or until after the age of 21 or so.

met-life-auto-insurance

It’s been an increasing trend for parents in expensive states to hold back on giving their teens the keys and insurance to the family car. But beware because insurance carriers in some areas are becoming more keenly aware of this. In response, they may count your twenty-something as a new driver. Weigh your options and shop around because that’s the only way to know what decision to make.

Ageism Creeping into Focus

For a long time the elderly were valued for their long-held driving experience. It meant they paid lower rates for insurance. Not so any longer. In many cases, the insurance on the aging population is bumping up, just as if they had no experience at all.

Again, the only way to fight this is to shop around and compare quotes.

Be aware of actual coverage that you need, and only buy sufficiently to cover yourself and your vehicle.

Consider downsizing your vehicle and comprehensive and collision coverage. Take advantage of low mileage driving, if you are among the many who do not drive more than a few thousand miles per year.

Final Thoughts

MetLife Auto is a long-time insurer with great credit ratings and high customer satisfaction. Always do your homework by comparing rates, especially in high-cost auto insurance states. Otherwise, the insurance carriers may be taking you for a ride.

Be sure to use the FREE comparison tool above to get started now!