Economy Fire and Casualty Auto Insurance Review (2020)
Economy Fire & Casualty auto insurance is a subsidiary of MetLife. They offer auto, home, disability, long-term care, investments, and retirement services to clients.
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Written by
Leslie Kasperowicz
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Reviewed by
Daniel Walker
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UPDATED: Aug 20, 2020
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- As a member of the MetLife family, the Economy Fire and Casualty Company is listed on the New York Stock Exchange
- In 1869, MetLife underwent a complete overhaul when they dropped the casualty business insurance part of the company and decided to focus solely on life insurance
- MetLife auto insurance policy includes property damage and bodily injury liability coverage, and collision coverage
The Economy Fire and Casualty Auto Insurance review is a review of the Economy Fire and Casualty Company. This company is a member of the MetLife Auto and Home Group.
As a member of the MetLife family, the Economy Fire and Casualty Company is listed on the New York Stock Exchange. The New York Stock Exchange abbreviation for the MetLife Auto and Home Group and all of its subsidiaries is MET.
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Table of Contents
Economy Fire and Casualty History
There is not much independent information about the Economy Fire and Casualty Company, so the majority of this information will be about the parent company, MetLife.
MetLife actually began as the National Union Life and Limb Insurance Company in 1863. This company offered insurance to soldiers and sailors during the Civil War as a way to offer insurance for disabilities acquired during war. Success did not come easily in the beginning.
In 1869, the company underwent a complete overhaul when they dropped the casualty business insurance part of the company and decided to focus solely on life insurance.
The company name was also changed to the Metropolitan Life Insurance Company at this time. Even after this restructuring the company still had another decade or so of hard times.
The company brought English insurance agents to the United States to help to educate the company on more successful insurance procedures. Within a year, the once-struggling company started writing up to seven hundred new insurance policies every day.
The company’s new method was so successful that within just one decade of learning the English approach to insurance, MetLife had become the largest life insurance company in the United States. Today, MetLife is still a leading life insurance provider.
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Economy Fire and Casualty Careers
A career with the Economy Fire and Casualty Company and its parent company MetLife comes with extensive benefits and services. The employee benefits available can be divided into three separate categories.
These three categories are core employee benefits, voluntary employee benefits, and work and life solutions.
The programs available under core employee benefits are:
- medical and prescription drug insurance
- dental insurance
- short-term disability insurance
- long-term disability insurance
- a life insurance policy paid for by the company
- a defined benefit retirement plan
- 401 (k) savings plan that the company matches.
The voluntary employee benefit programs are flexible spending accounts, supplemental life insurance, legal services, critical illness insurance, and long-term care insurance.
Some of the work and life solution programs are paid time off, paid holidays, tuition assistance programs, flexible work arrangements, adoption assistance, and wellness and fitness programs.
What kinds of insurance does Economy Fire and Casualty offer?
There are many products available through the Economy Fire and Casualty’s parent company, MetLife. These products include insurance, investments, planning services, employee benefits, and retirement services.
The types of insurance available through MetLife are life insurance, auto insurance, disability income insurance, home insurance, long-term care insurance, and dental insurance that is only available in California, Texas, and Florida.
The types of coverages available with the MetLife auto insurance policy include property damage and bodily injury liability coverage, collision and comprehensive coverage are the following:
- New car replacement
- Major parts replacement and full glass coverage
- Personal injury protection
- Medical payments coverage
- Coverage to protect against uninsured and underinsured motorists
- Lease and loan gap coverage
- Towing and labor coverage with roadside assistance
- Transportation coverage
- Enhanced rental car insurance coverage
MetLife also offers many different types of auto insurance discount opportunities. Some of these discounts include a good student discount of up to 15 percent, a defensive driver discount of up to seven percent, a 12 percent superior driver discount.
Met Rewards discount of up to 20 percent for people that do not have an auto violation for five years, a ten percent discount for having both auto and home policies with MetLife, and a five percent discount for having both auto and life policies.
In addition, there is a special Met Rewards discount of up to 20 percent for people that do not have an auto violation for five years, a ten percent discount for having both auto and home policies with MetLife, and a five percent discount for having both auto and life policies.
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Review
This company has sent our state motor vehicle division a notice that our insurance lapsed for coverage. This is a vehicle they never were insured by this company and have caused a major issue since the state has revoked the plates.
How this can happen is beyond believe. Makes one consider why one would want to business with this company.
Did you find this review helpful? Yes (1) No
I retired from the insurance business 2002. I had represented Economy Fire & Casualty for many years. They had competitive pricing and were very fair to Insureds and Agents. They were the brightest era in my long career in the insurance business. Metlife took over Economy and although they are a fine firm, they are interested more in life insurance than the fire & casualty.