Polymer-based coatings are a long-established category of protective coatings for metals and alloys regarding corrosion inhibition. The polymer films can degrade, and when coated on metallic substrates, the degradation facilitates moisture and oxygen penetration, reducing the polymer film’s adhesion to the metallic substrate and exposing the substrate to extreme conditions capable of corrosion. For this reason, pigments, inhibitors, and other compatible blends are added to the polymer coating formulations to enhance adhesion and protection. To prevent the possible deterioration of inhibitor-spiked polymer coatings, inhibitors are encapsulated through diverse techniques to avoid leakage and to provide a controlled release in response to the corrosion trigger. This review discusses polymer-based coating performance in corrosion-causing environments to protect metals, focusing more on commercial steels, a readily available construction-relevant material used in extensive applications. It further beams a searchlight on advances made on polymer-based coatings that employ metal–organic frameworks (MOFs) as functional additives. MOFs possess a tailorable structure of metal ions and organic linkers and have a large loading capacity, which is crucial for corrosion inhibitor delivery. Results from reviewed works show that polymer-based coatings provide barrier protection against the ingress of corrosive species and offer the chance to add several functions to coatings, further enhancing their anti-corrosion properties.