We review MetLife’s renters insurance coverage, pricing, benefits, and more in our MetLife Renters Insurance Review.
MetLife is well-known for offering renters insurance for apartments, condos and homes. This protects personal property in the event that it is damaged by fire or stolen. MetLife is a well-respected insurance company that has been providing renters with coverage plans for over 150 years.
This Old House Reviews Team reviews MetLife’s renters insurance coverage and compares it to other providers. Continue reading to find out if MetLife is the best renters insurance choice for you and/or your home.
MetLife Renters Insurance: The Pros and Cons
Pros
Customers can avail four discounts
Each policy includes identity protection services
All available nationwide
Cons
Only by phone: Offers for quotes
It doesn’t cover loss of use
MetLife Renters Insurance
MetLife offers general renters insurance coverage that protects you against events such as hail, vandalism, tornadoes, and fire.
MetLife policies provide coverage in these three areas:
1. 1. Personal Property Insurance
This includes items within your home, such as furniture, appliances, or personal possessions. MetLife replaces your personal possessions at no additional cost. This means that the company will cover the entire value of the item, minus any depreciation.
According to the quote that MetLife provided, $15,000 was covered for personal property.
2. 2. Personal Liability Insurance
Liability coverage covers you in the event that you cause injury or property damage to another person. This coverage also covers legal expenses that may be incurred due to an incident that takes place in your home.
MetLife provided $100,000 personal liability coverage in our quote.
3. 3.Medical Payments to Others
This coverage pays for medical expenses of an injured person in your home.
MetLife paid $1,000 per person to make medical payments to other people in the quote that we received.
Based on North Carolina information, here’s how much coverage each protection category can provide.
MetLife Bonus Coverage
MetLife offers bonus coverage via four special coverage packages, which can be added on to your monthly premium. Each package comes with a $100 deductible. Policyholders have the option to choose from coverage amounts up to $5,000, $10,000 or $15,000 each.
- Electronics: MetLife also offers electronic coverage, which covers electronic items such as gaming systems and computers.
- Music Instruments: MetLife offers coverage for high-quality musical instruments such as pianos and guitars.
- Luxurious Items: This type of coverage can be used to compensate for stolen or damaged jewelry, such as gold watches or diamond necklaces.
- Recreational and sports equipment: This plan covers items such as gym and exercise equipment.
Not all states offer speciality coverage. For more information, contact your agent.
MetLife Renters Insurance: What is not covered?
MetLife’s renters insurance policies do not include loss of usage coverage. If your home is declared uninhabitable due to a covered event, loss of use protection will cover your living expenses. Loss of use protection would, for example, pay your hotel and food bills while your home is being repaired after it was set on fire.
MetLife Renters Insurance Pricing
We called a representative in order to get a quote. This will give you an idea about what the average policyholder would spend. Here is a quote for Chapel Hill, North Carolina single-family homes.
MetLife renters insurance will have a $250, $500, $750 or $1,000 deductible.
For a quick quote, make sure you have the following information handy before calling MetLife to request a quote:
- Address
- Date of birth
- Type of rental
- Insurer claims filed over the past five years
- There are many pets
MetLife Renters Insurance Discounts
MetLife offers four discounts that will help you save money on your policy.
- Get Discounts for Life: Customers who have not filed any claims during their coverage term are eligible for a discount.
- Multi-Policy Discount: MetLife renters and auto coverage will give you the Home Policy Plus discount.
- Protective Devices on Sale: Customers who install this product receive a discount Safety and security devicesIn their rental unit.
- Employer Discount: Policyholders who are eligible for an additional discount from their employer will receive a discount.
Customer Service and Claims Assistance
MetLife customer service is different depending on where you live. While some locations are available for calls 24/7, others only during business hours. MetLife Cares offers customer service via its Twitter account. MetLife also provides phone support. MetLife’s claims center can be reached at 1-800-854-6011, 7 days a week.
MetLife customers can also access their policy features, and pay bills from the MetLife app.
Our Conclusion
MetLife renters insurance offers basic coverage for policyholders at a low rate of $15 per month. Although the company provides optional coverage for items such as jewelry and electronic devices, their standard coverage does not include additional protection like loss of usage, which is included in many competitor plans. MetLife offers four additional savings options for customers.
We recommend that you get quotes from several companies before you purchase renters insurance through MetLife. This will ensure you get the best coverage for your home and family.