MetLife Home Insurance Complaints

Since your home is arguably the most valuable asset you'll ever possess, you must protect it with adequate homeowners insurance. MetLife excels in terms of coverage, allowing you to ensure your home for the maximum replacement cost, regardless of the rebuild amount. On the other hand, Metlife earned a poor score in our customer satisfaction category due to JD Power and Trustpilot scores that were below average.

The Good

There are several levels of robust coverage packages from which to choose. The size and construction style of your house, weather risk, burglary risk, your possessions, and the total value of all of your combined assets all play a role in determining your homeowner's insurance needs. MetLife has three comprehensive policy options to choose from, so no matter what your coverage requirements are, MetLife is likely to have you covered.

Identity theft security is included in the policy at no additional cost. One of the most costly and stressful problems a person can face is identity theft. When you insure your home with MetLife, you will be assigned a personal ID fraud specialist who will assist you in recovering your identity at no additional charge.

For the home and personal property, excellent replacement cost coverage enhancement options are available. The choice of guaranteed replacement cost compensation for your home is a standout feature of MetLife homeowners insurance. This feature would cover the entire cost of rebuilding your house, even if it is higher than the sum insured.

The Negative

There isn't a tool for quoting online. MetLife's website does not have an online application or an instant quote option. You must call or order a consultation with MetLife to apply for homeowners insurance. The application process can be time-consuming for those who need a fast quote for comparison purposes.

To file an insurance claim, you must call or send an email. MetLife has good claims scores, but they don't have an online claims feature that allows you to apply and monitor claims from start to finish.

Customer satisfaction scores are below average. In JD Power's 2019 Home Insurance Study, which rates every aspect of the insurance experience with individual carriers, MetLife received a below-average 2 out of 5 rankings. MetLife received a low rating for its billing process and policy information, which assesses its timeliness, consistency, and accuracy of billing statements and policy information.

The cost of homeowners insurance varies significantly from state to state and from home to home. Though MetLife prices are higher than the average quoted policy, they are still among the most cost-effective industries. The average annual premium for homeowners who got a MetLife quote was $2,042.

The amount of coverage in your policy has a significant effect on your rates. The average cost of homeowners insurance with MetLife at various levels of coverage is shown below.

Discounts

• Taking advantage of discount deals is a smart way to drive your homeowner's insurance premiums down.
• Protective device discounts, claims-free discounts, and new home-buyer discounts are all standard discounts.
• MetLife provides the majority of the regular deals and a multi-policy value if you purchase more than one home insurance policy from them.
• Discount on protective equipment: If your home has security and safety features such as burglar alarms, fire alarms, fire sprinklers, and storm shutters, you will receive a discount.
• If you're 55 or older and unemployed, you can get a deal on your house.
• If the home was built during the last year, you could receive a house and car with the same insurer. You can save money.
• 

Self-assurance

Homeowners' insurance safeguards the most valuable financial assets, so make sure you insure your home, personal belongings, and other investments with a firm that will pay out your claim in the event of a catastrophe. MetLife has been in business for 150 years and has strong financial ratings from the world's largest insurance rating agencies. You should feel safe insuring your home with MetLife.

1869 is the year the company was established.

AA from Standard & Poors.

- Moody's Aa3 A.M. ranking A+ is the highest possible ranking.

Standard & Poor's is a credit rating agency that institutional investors and other market participants mainly use to assess a company's creditworthiness. S&P is also helpful in determining insurance companies' long-term financial stability. MetLife's AA- ranking, which is the highest issuer credit rating assigned by S&P, places them among the top-tier insurance companies in terms of financial trust.

Moody's is somewhat similar to Standard & Poors, except that instead of assessing a company's ability to stay financially solvent and creditworthy, Moody considers the potential losses if it defaults. It's handy for determining the value of stocks and bonds issued by specific companies. MetLife's Aa3 ranking gives them a "very high" investment grade designation, as a AAA rating is the best available from Moody's.

A.M. Best is the most reliable credit-rating tool that insureds can use to assess a company's financial health. A.M. Best, unlike S&P and Moody's, is solely focused on the insurance industry. When it comes time to file a lawsuit, an organization with a high A.M. Best rating is more likely to meet its contractual obligations to you. MetLife has an A+ ranking from A.M. Best, which is the second-highest rating a company can get.

Customer feedback

It's important to know what experts have to say about homeowners insurance providers, but it's also important to know what real consumers and consumer sentiment pages have to say.

MetLife has good scores from Consumer Affairs, Consumer Advocate, and the BBB. Still, they fall short in other regions, such as JD Power's overall satisfaction ranking, TrustPilot's score, and the NAIC's complaint index.

• 2 out of 5 stars according to JD Power.
• A+ for BBB
• 3.6 out of 5 for Consumer Affairs
• Consumer Advocate: 4.1 out of 5 stars
• 1.8 out of 10 on Trustpilot
• 1.64 NAIC complaint index

JD Power conducts research on insurance companies' product packages, price, billing, and policy details transparency, engagement, and claims. Our rating is based on an overall satisfaction score "based on how consumers perceive every experience of their experience with homeowners insurance companies."

The Better Business Bureau assigns scores to businesses based on a variety of factors. Consumers can apply ratings to the BBB, but these scores are not factored into the final ranking, while tangential measures consider customer service.

Consumer Affairs is a website that allows customers to rate businesses directly, while Consumer Advocate ranks firms based on their stability, credibility, and policy coverage.

With their national complaint index, the National Association of Insurance Commissioners keeps track of the number of complaints filed with state insurance departments. A score of 1 represents the baseline average, while 0 indicates that there were insufficient complaints to count. MetLife received more complaints than the average organization in 2018, with a score of 1.64. That might seem to be a lot but consider their vast customer base.

Policy alternatives

MetLife provides three home insurance policies that provide all of the essential coverages, including residence, other buildings, personal property, loss-of-use, personal liability, and medical payments.

A single standard policy covers the bare minimum and allows you to add any extra coverages you choose. MetLife then promotes two higher levels of homeowners insurance, one of which has more favorable claim payout coverages and other insurance protections such as ordinance or rule coverage and water backup coverage.

Here are some highlights from each of MetLife's three coverage tiers:

Standard coverage from MetLife

• Guaranteed replacement cost value settlements for home structures are an option.
• Replacement cost value settlements for personal property are an option.
• At no extra charge, you will secure your identity.
• $5,000 in coverage for personal computers
• Anything included in the regular plan is included in the MetLife Platinum plan.
• Personal property replacement cost-benefit settlements
• Air backup coverage of $10,000
• There is no upper limit for computer coverage.
• GrandProtect by MetLife
• Anything in the Platinum plan is included.
• Home coverage that is guaranteed to be replaced
• $25,000 in reimbursements for identity fraud insurance
• Note that the information above is a sample of policy choices that may or may not be open to all applicants. Speak with a licensed professional to have a more in-depth look at your coverage choices.

MetLife is available in most parts of the country and offers various digital resources to help you manage your program. Still, there is no online application or claims process.

The software's implementation

You have two choices for applying for MetLife homeowners insurance: call and use via their automated response system or arrange a consultation with a MetLife insurance representative.

Ease of filing claims

While MetLife does not have an online platform or a mobile app for filing claims, several options are still available once a disaster strikes. While MetLife does not provide flood coverage, they have a helpline that will point you in the right direction if your home is flooded. You can file claims by phone, fax, or email, and you can tweet their claims department at @MetLifeCares.