Metlife Home Insurance Review

Limited coverage but a good option for replacement cost coverage

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Metlife

Metlife is one of the most respected names in the insurance world. Its homeowners insurance coverage is basic, but there are ways to customize it, including adding extra features such as guaranteed replacement cost coverage. The insurance company doesn’t offer much help through its website or mobile app, with customers having to call for support in most instances.

  • Pros & Cons
  • Key Takeaways
  • Company Overview
Pros & Cons
Pros
  • Identity protection included

  • Multiple discounts available

  • Replacement cost coverage available

Cons
  • Claims only by phone or email

  • No online quotes

  • Not available in all states

Key Takeaways
  • Metropolitan Life Insurance Company (MetLife) was founded in 1868.
  • It offers customizable home insurance policies that all come with identity protection services.
  • Metlife offers several discounts to save money on insurance premiums.
Company Overview
  • Year Founded 1868
  • Official Website www.metlife.com
  • Insurance Offered Home, renters, auto, life, health and more
  • Customer Service Phone: 1-800-422-4272, Twitter: @MetLifeCares

Pros Explained

  • Identity protection included – All homeowners insurance policies come with identity protection services.
  • Multiple discounts available – Metlife offers a host of discounts that could lower your insurance premiums, including safety, association, and employer discounts, as well as savings by bundling home and auto insurance.
  • Replacement cost coverage available – You can get coverage for your home and belongings that pays in full for what they were worth when new, rather than their actual cash value at the time they were lost or damaged.

Cons Explained

  • Claims by phone or email only – Customers have to file homeowners insurance claims by phone or email. There’s no option to file a claim online or through the mobile app.
  • No online quotes – Metlife doesn’t have an option to receive an insurance quote directly online. You must set up a consultation to get a quote.
  • Not available in all states – The fine print on MetLife’s website makes it clear that its products are not available in all U.S. states, but it doesn’t specify the details.

Metlife Standard Home Insurance Coverage Plan

  • Basic Coverage – Metlife’s basic coverage features options such as personal property, liability, loss of use, and medical payments.
  • Replacement Cost Coverage – Customers can also purchase additional guaranteed replacement cost coverage for your house and personal belongings.

Factors That Affect Homeowners Insurance Costs

  • Home Age – As your house ages, repair and replacement costs rise.
  • Previous Claims – Having past insurance claims makes you a perceived risk to insurance companies, leading to higher premiums.
  • Security and Safety Measures – Adding a home security system or safety features can lead to premium reductions.
  • Amenities – Having other amenities on your property, such as a pool, trampoline, or wood-burning stove, can also cause your insurance premiums to rise.
  • Home Business Equipment – If you work from home, you may need extra coverage for any equipment, tools, vehicles, and inventory kept on your property.
  • Pets – Owning an aggressive-breed dog can limit your coverage or drive up your premiums.
  • Home Improvements As you make renovations to your house, you may need to increase insurance coverage to account for any changes.

Metlife Home Insurance Discounts

Metlife offers several discounts that can lower your insurance costs.

  • Safety Discounts – Adding safety features such as deadbolts, alarm systems, smoke detectors, and automatic sprinkler systems can lead to safety discounts in many states.
  • Bundling Discounts Customers can save money on home insurance by bundling it with auto insurance through Metlife.
  • Group Discounts – Customers with memberships to eligible associations and groups may receive a discount.

Metlife Home Insurance Availability

Metlife homeowners coverage is not available in all states, although specific details aren’t published on its website.

Metlife Customer Service

Metlife’s customer support for homeowners insurance is available by phone at 800-422-4272 if your policy was purchased on your own. For policies purchased through an employer, you can reach customer service at 800-438-6381. There’s also an option to receive support through Metlife’s twitter account @MetLifeCares. In the J.D. Power 2019 Home Insurance Study, Metlife ranked 19th out of 23 companies in overall customer satisfaction.

Complaint Index

The National Association of Insurance Commissioners (NAIC) manages a database of all complaints received about insurance companies. Each company receives a complaint ratio based on the previous year’s complaints in comparison to its market share. Companies with a score above 1.0 received more complaints than average, while a score under 1.0 means the reverse. In 2019 Metlife had a complaint index score of 1.77.

Metlife Mobile App

Metlife has a mobile app available for download on the App Store and Google Play. Unfortunately, the app features for homeowners insurance are limited to viewing your policy and paying your insurance bill. 

How to Make a Home Insurance Claim With Metlife

The only way to make a homeowners insurance claim through Metlife is by phone by calling 800-854-6011. Phone support is available 24/7. You’ll share details of your claim with a specialist who will provide you with any necessary paperwork. Once you submit the paperwork and any supporting photos or video, Metlife will review your claim.

If the damage is extensive, Metlife may send its own claims adjustor to assess the situation. If your claim is approved, you’ll receive a paper check to cover the costs minus any deductibles.

Metlife Home Insurance Cancellation Policy

To cancel your insurance policy through Metlife, call 800-638-5433. Navigate through the prompts to request a cancellation. It’s unclear if there are any penalties when you cancel a policy.

Other Insurance Provided by Metlife

As one of the largest insurance providers in the US, Metlife offers several other insurance options besides homeowners coverage, including:

Get a Metlife Home Insurance Quote

Metlife doesn’t offer online quotes currently. You’ll need to call 888-926-6126 to request a quote for homeowners insurance coverage. You can also fill out a consultation request form on Metlife’s website.

Verdict

Metlife is a reputable insurance company with adequate coverage for homeowners. It doesn’t offer much if you’re looking for online tools and support. Even its website lacks basic information about its policies, coverage options, and support.

Metlife is best for individuals looking for replacement cost coverage. You may receive better quotes and service from other insurance companies. It’s still worth getting a quote to see how Metlife stacks up compared with other home insurers.

Compare Other Home Insurance Reviews

It’s always a good idea to compare multiple insurance companies before deciding on the one that best fits your needs. Your home is one of your most valuable assets. Make sure you protect it with the right insurance coverage.

Methodology

Investopedia is dedicated to furnishing consumers with unbiased, comprehensive reviews of homeowners insurance providers. We reviewed each insurance provider’s coverage options, available discounts, customer services, and satisfaction ratings to ensure that our content helps users make the right insurance decision for their needs.

Article Sources

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  1. MetLife. "Legal Notices: "9. All Products, Programs and Services May Not Be Available in Your Area." Accessed Sept. 15, 2020.

  2. Wells Fargo. 8 things that can affect your homeowners insurance rates. Accessed Sept. 15, 2020.

  3. J.D. Power. Home Insurance Customer Satisfaction Declines, Opening Door for Insurtech Disruptors, J.D. Power Finds. Accessed Sept. 15, 2020.

  4. National Association of Insurance Commissioners. "Metropolitan Prop & Cas Ins Co

    National Complaint Index Report." Accessed on Sept. 15, 2020.

  5. Apple.com. "MetLife US App." Accessed Sept. 15, 2020.

  6. Google.com. "MetLife US App." Accessed Sept. 15, 2020.

  7. MetLife.com. "Have a MetLife Representative Contact You." Accessed Sept. 15, 2020.