Popular for its various insurance products and services like health and life insurance, MetLife offers renters insurance for condos, apartments, and homes, protecting personal belongings in the event of losses from fire or theft. As a company with over 150 years of experience providing coverage plans to renters throughout the United States and abroad, MetLife has established itself as a seasoned insurance provider.
In this MetLife renters insurance review, the This Old House Reviews Team looks into the company’s coverage plans and how they compare to what other renters insurance providers offer. Read on to learn if MetLife is the best renters insurance option for you and your home.
Pros & Cons of MetLife Renters Insurance
| Pros | Cons |
|---|---|
| ✔ Offers four different discounts to customers | ✘ Offers quotes through the phone only |
| ✔ Includes identity protection services in each policy | ✘ Doesn’t provide loss of use coverage |
| ✔ Available nationwide | – |
MetLife Renters Insurance Coverage
MetLife provides general renters insurance coverage, protecting you from events like tornadoes, hail, fire, and vandalism.
With a policy from MetLife, you’ll receive coverage in the following three areas:
1. Personal Property Coverage
This covers the cost of items inside your home like furniture, appliances, and personal possessions. With MetLife, your personal belongings are under replacement cost coverage, meaning the company will pay for the full value of the item without taking into account its depreciation.
In the quote we received, MetLife covered $15,000 for personal property.
2. Personal Liability Coverage
Liability coverage protects you if you cause injury to someone else or damage their property. Additionally, this coverage protects you against legal expenses incurred over an incident that occurs in your home.
In our quote, MetLife covered $100,000 for personal liability.
3. Coverage for Medical Payments to Others
This coverage helps pay for the medical bills of a person that’s injured in your home.
MetLife covered $1,000 per person for medical payments to others in the quote we received.
Here’s how much coverage you can purchase for each protection category based on North Carolina information:
Coverage Breakdown
| Coverage Type | Range of Coverage |
|---|---|
| Personal Property | $5,000–$100,000 |
| Liability | $25,000–$500,000 |
| Medical Payments to Others | $1,000–$5,000 per person |
MetLife Bonus Coverage
MetLife offers bonus coverage through four specialty coverage packages that can be added to your monthly premium. Policyholders can choose up to $5,000, $10,000, or $15,000 worth of coverage for each package, which comes with its own $100 deductible.
- Electronics: Although personal property coverage extends to some electronic items, MetLife offers additional electronic coverage that protects items like home computers and gaming systems.
- Musical Instruments: For coverage on high–quality musical instruments like guitars or pianos, MetLife offers a musical instrument coverage package.
- Luxury Items: If you have expensive jewelry items, like diamond necklaces or gold watches, you can receive compensation for damaged or stolen jewelry through this type of coverage.
- Recreation and Sports Equipment: This plan protects items like gym and fitness equipment.
Note: Speciality coverage packages aren’t available in all states. Contact your local agent for more information.
What’s Not Covered With MetLife Renters Insurance?
MetLife doesn’t include loss of use coverage as a part of its renters insurance policies. Loss of use protection covers your living expenses if your home is deemed uninhabitable after a covered incident. For example, if your home caught on fire and needed extensive repairs, loss of use coverage would pay your hotel and food bill while it’s being repaired.
MetLife Renters Insurance Pricing
To give you an idea of what the average policyholder would pay, we called a representative to receive a quote. Here’s a quote for a single-family home in Chapel Hill, North Carolina.
MetLife Cost Breakdown
| Type | Amount |
|---|---|
| Deductible | $500 |
| Monthly cost | $13.25/month or $159/year |
Your MetLife renters insurance deductible will be $250, $500, $750, or $1,000.
Before calling to get your quote from MetLife, be sure to have the following personal information ready for a quick quote process:
- Address
- Date of birth
- Type of rental
- Number of insurance claims filed in the last five years
- Number of pets
MetLife Renters Insurance Discounts
MetLife offers four different discounts to help customers save money on their policy.
- Claim-Free Discounts: This discount applies to customers who haven’t filed claims during their coverage term.
- Multi-Policy Discount: When you choose MetLife for renters and auto coverage, you qualify for the Home Policy Plus discount.
- Protective Devices Discount: This discount is awarded for customers who install safety and security devices in their rental unit.
- Employer Discount: This is a discount for policyholders who qualify for an additional discount through their employer.
State Availability
Alabama | Alaska | Arizona | Arkansas | California | Colorado | Connecticut | Delaware | Florida | Georgia | Hawaii | Idaho | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Minnesota | Mississippi | Missouri | Montana | Nebraska | Nevada | New Hampshire | New Jersey | New Mexico | New York | North Carolina | North Dakota | Ohio | Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina | South Dakota | Tennessee | Texas | Utah | Vermont | Virginia | Washington | West Virginia | Wisconsin | Wyoming
Customer Service and Claims Support
MetLife’s customer service varies based on your local MetLife representative. Some locations are open for calls 24 hours a day, seven days a week, while others are only available during normal business hours. In addition to phone support, MetLife offers customer service through its Twitter account, MetLife Cares. MetLife’s claim center is available through the phone 24 hours a day, seven days a week at 1-800-854-6011.
Additionally, MetLife customers can access their policy features and pay bills directly from the MetLife mobile app.
Our Conclusion
MetLife renters insurance provides policyholders with basic coverage at an affordable rate of around $15 a month. While the company offers optional coverage to protect items like jewelry or electronic devices, their standard coverage lacks additional protection like loss of use, included in many of their competitor’s plans. MetLife does offer additional ways to save, providing four discounts to their customers.
Before purchasing a renters insurance plan through MetLife, we recommend getting quotes from multiple companies so that you can get the best insurance coverage for you and your home.
If you’re not sure whether MetLife is right for you, compare it to other top-rated renters insurance companies below.
Compare Renters Insurance Companies
Company Overview
- Company Name: MetLife, Inc.
- CEO: Michael A. Khalaf
- Years in Business: 152
- State Availability: 50
- Address: 200 Park Avenue
- City/State: New York, New York
- Zip Code: 10166
- A.M. Best Financial Strength Rating: A+
Frequently Asked Questions About MetLife
To share feedback or ask a question about this article, send a note to our Reviews Team at reviews@thisoldhousereviews.com.