MetLife vs Allstate: Difference and Comparison

Insurance plays an important role in providing relief to its customers 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 differences between them.

Key Takeaways

  1. MetLife and Allstate offer various insurance products, including auto, home, and life insurance.
  2. Allstate provides more comprehensive coverage options and local agents for personalized service.
  3. MetLife offers competitive pricing and has a strong presence in the group insurance market.

MetLife vs Allstate

Metlife is a global insurance company that covers car, auto and home insurance. It is an affordable option that offers the advantage of roadside assistance to the insured. It does not include accident forgiveness and employment discounts. Allstate is an American insurance company that covers auto, home, RV, condo and term life. It is a costly option that offers many discounts and benefits, such as accident forgiveness and special employment discounts.

MetLife vs Allstate
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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 roadside assistance, under which three ways you can have help if your car breaks 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 accident forgiveness, special employment discounts, paid-in-full discounts, 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

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 an 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 to this, such as it does not include accident forgiveness, and 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 for two or three discounts it offers, all discounts and benefits to their policyholder, and it is older too. Along with all the benefits, it is quite affordable and a good option for a budget-friendly person.

metlife

What is Allstate?

Allstate offers several types of insurance, mainly 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, and 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 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 offered by Allstate but not MetLife is a special employment discount.
  3. Another difference in terms of policies offered between MetLife and Allstate is in paid in full discount feature. Here also MetLife has a disadvantage as it does not offer paid in 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 breaks 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.
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

Last Updated : September 8th, 2023

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