Difference Between MetLife and Allstate (With Table)

Insurance plays an important role in providing relief to its customer from accidents or mishappenings in the future. Therefore it is always important to ensure all the important and precious things. These include houses, cars, life, etc.

Car insurance is very important to make sure if any accident happens the insurance company can handle all the expenses not only this some of the insurance company offers several discounts and other special feature to policyholders. Examples of such companies are MetLife and Allstate. They offer similar benefits and hence can be very confusing; to make a choice between them, it is important to understand the difference between them.

MetLife vs Allstate

The difference between MetLife and Allstate in is the discounts and features both insurance policy offers. Accidents forgiveness is an important feature that most of the policyholder wants to have in their car insurance policy; this is not included in MetLife while Allstate has this included in the policy. Other differences in the discounts they offer, Allstate offers more types of discounts to their policyholders, these discounts include special employee discounts and paid in full discount, and both of these discounts are not given or allowed in MetLife. In Allstate policyholder has an option of adding roadside assistance while it is free added in MetLife. Lastly, they can be differentiated based on their price; Allstate is pretty expensive in nature, while comparatively MetLife is cheaper and more affordable.

MetLife or Metropolitan Life Insurance Company is a company that offers insurance policies in more than 60 countries. CEO of MetLife is Michel A. Khalaf, and the founder is William P. Stewart on 24 March 1868. This covers the roadside assistance under which by three ways you can have help if your car broke in the middle of somewhere. It comes in several plans; they can be monthly or yearly with different price ranges.

Allstate is a company offering insurance to over 50 countries. It was founded on 17 April 1931 by Sears, and the CEO of this is Thomas J. Wilson. It is best known for its car insurance. It offers accidents forgiveness, special employment discounts, paid in full discount, roadside assistance, etc., to its policyholders. It is said to be best as it covers overall all features and benefits to the policyholders.

Comparison Table Between MetLife and Allstate

Parameters of ComparisonMetLifeAllstate
Accident forgivenessNot includedIncluded
Special employment discountNot givenGiven
Paid in full discountNot allowedAllowed
Roadside assistanceIncluded freeOptional
AffordabilityMoreLess

What is MetLife?

The main insurance offered by MetLife is car insurance. Following are some benefits that can be added by the policyholder for extra price:

  • Replacement Cost Coverage for Major Parts.
  • New Car Replacement.
  • Custom Sound Equipment Coverage
  • Glass Repairs without Deductible.
  • Gap Coverage.
  • Rental Car Insurance.
  • Rental Car Reimbursement Coverage.

Some of the benefits of MetLife are:

  1. It offers roadside assistance under which you can have help in between roads or places if a car breaks down. 
  2. It offers several discounts.

There is some disadvantage too with this, such as it does not include accident forgiveness, online application of it is not available everywhere.

Pros:

  • User friendly.
  • Affordable.
  • Care program.
  • Roadside Assistance Reimbursement.

Cons:

  • Fewer discounts.
  • Unavailability of some benefits.

Overall except two or three discounts it offers, all discounts and benefits to their policyholder and it is older too. And along with all the benefits, it is quite affordable and a good option for a budget-friendly person.

What is Allstate?

Allstate offers several types of insurance, mainly being car insurance. It is famous for its features and benefits provided under the car insurance policy. It offers three types of roadside services to its policyholders. Along with this, it also offers additional discounts, such as utility vehicles, seniors, farm vehicles, etc. tops states, where they are used are Arizona, California, Florida, Illinois, Michigan, New Jersey, New York, Ohio, Pennsylvania, Texas.

Other than car insurance, it also offers the following insurance products:

  • Home Insurance
  • Renters Insurance
  • Condo Insurance
  • Rideshare Insurance (insurance for Uber and Lyft drivers)
  • Motorcycle Insurance
  • Business Insurance
  • Off-Road Vehicle Insurance,
  • Life Insurance
  • Roadside Assistance
  • Identity Protection

There is an option of bundling up the several auto insurances. It has a larger market share. Some pros of this insurance company are:

  • Work-Life Balance.
  • Good Benefits.
  • Several Discounts.

Cons of policies:

  • Expensive.

Overall if compared to other insurance companies, it offers more discounts and better benefits, which justifies its price range.

Main Differences Between MetLife and Allstate

  1. The feature of accident forgiveness is important to protect the driving record from getting affected by the insurance company. This feature is very important for policyholders; this feature is not included in MetLife, while Allstate has an advantage in this as it also has this feature included in the policy.
  2. Few insurance policies offer several types of discounts, although both MetLife and Allstate offer a similar type of discount, one discount that is an offer by Allstate but not MetLife is a special employment discount.
  3. Another difference in terms of policies offered between both MetLife and Allstate is in paid in full discount feature. Here also MetLife has a disadvantage as it does not offer paid in a full discount to their policyholder whereas Allstate being advantageous, has this option as well for their policyholders.
  4. Another coverage feature that plays an important role in protecting the interests of policyholders is roadside assistance which is very helpful if the car broke in the middle of the road. This assistance or feature is included free in MetLife, whereas it is optional to have this feature. The policyholder can choose if they don’t want this.
  5. Although different plans under these insurances have a different price if looked at generally. MetLife is comparatively more affordable as all of its prices are lower than Allstate. Allstate is expensive and hence less affordable. This may be due to the reason it offers more features and discounts to policyholders.

Conclusion

With all the above information, it will be easier to make a choice between MetLife and Allstate. The similarity between MetLife and Allstate is that both of them have the feature of New Car Protection, Rideshare Coverage, online phone Claims Methods, Anti Theft device discount, building discount, multicar discount, safety device discount, etc. Car Insurance offers personal accident coverage, a large network of garages, third-party liability, no claim bonus, etc.

Other than car insurance, the most opted insurance is life and house insurance, as both of them are very important for a human.

References

  1. https://books.google.com/books?hl=en&lr=&id=2c85DwAAQBAJ&oi=fnd&pg=PA41&dq=MetLife+and+Allstate&ots=kctcGENIKw&sig=V4KyDacbMsRDPekoUuGCMKkM2-8
  2. https://www.tandfonline.com/doi/abs/10.1179/2049396713Y.0000000033
  3. https://journals.sagepub.com/doi/abs/10.1177/0733464812447284
  4. https://pubsonline.informs.org/doi/abs/10.1287/mksc.1070.0320
  5. https://www.sciencedirect.com/science/article/pii/S0001457502001069
  6. https://rss.onlinelibrary.wiley.com/doi/abs/10.1111/rssc.12283
  7. https://direct.mit.edu/rest/article-abstract/97/2/301/58226
x
2D vs 3D