Insurance
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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Travelers Insurance Review (2024)

Updated on:
Content was accurate at the time of publication.

Travelers is a good company to contact for a car insurance quote. Its homeowners insurance rates are high, but the discounts you get for bundling home and auto make it more affordable.

Find the Cheapest Car Insurance Quotes in Your Area

Pros

 Full-coverage car insurance is 3% less than the national average

 Low complaint rating for home and auto insurance

 Has gap insurance and original equipment coverage

 New car forgiveness coverage lasts five years

 A++ rating for financial strength from A.M. Best

Cons

 Home insurance rate is 14% higher than the national average

 Below-average customer satisfaction scores for home and auto

Travelers is a good company overall. Its car insurance rates are close to national averages. Its home insurance rates are high, but it offers large discounts for bundling your home and auto policies.

Travelers has favorable complaint ratings from the National Association of Insurance Commissioners (NAIC), which measures complaints consumers file against an insurance company.

Travelers’ ratings from J.D. Power, however, are below-average for overall customer satisfaction. J.D. Power looks at the billing process, policy information and offerings, claims, interactions and price of each insurance company when rating them.

Travelers does get high marks for financial strength, with an A++ rating from A.M. Best.

CategoryRatingSegment average
Auto satisfaction (higher is better)805820
Home satisfaction (higher is better)790819
Auto complaint rating (lower is better)0.6 (Good)1.0
Home complaint rating (lower is better)0.2 (Excellent)1.0
Financial strengthA++Highest possible rating

Sources: J.D. Power 2023 U.S. Auto Insurance Study; J.D. Power 2023 U.S. Home Insurance Study; National Association of Insurance Commissioners

Travelers’ quotes for full-coverage car insurance average $1,919 a year ($160 a month), which as mentioned, is 3% less than the U.S. average.

Traveler’s liability-only rates average $835 a year ($70 a month), which is 8% higher than the national average.

Since rates vary by customer, it’s good to compare auto insurance quotes from multiple companies.

CompanyAnnual full-coverage rateAnnual liability rate
State Farm$1,487 $597
Travelers$1,919 $835
American Family$1,920 $728
Geico$1,937 $727
Progressive$2,032 $791
Nationwide$2,226 $963
Allstate$2,609 $1,158
Farmers$3,091 $1,188

Travelers offers competitive rates to drivers with a prior ticket or accident or with a DUI on their record.

  • Travelers charges drivers with a traffic ticket roughly 2% higher than the national average for full coverage.
  • Drivers with a prior accident pay about 8% less than the national average.
  • Travelers’ typical rate for drivers with a DUI is 20% less than the national average.

Travelers’ rates after a ticket, accident or DUI

CompanyTicketAccidentDUI
Travelers$2,468 $2,699 $2,893
State Farm$1,616 $1,843 $4,402
American Family$2,352 $2,980 $3,114
Geico$2,493 $3,341 $4,584
Progressive$2,606 $3,026 $2,547
Nationwide$2,839 $3,460 $4,376
Allstate$3,073 $4,125 $3,875
Farmers$4,252 $4,598 $4,758

How much is Travelers for drivers with bad credit?

Travelers charges drivers with bad credit $3,506 a year for full coverage. This is 83% higher than its rates for drivers with drivers with bad credit. However, it’s also 5% less than the average rate other companies charge.

If you’re not sure about where your credit stands, you can check for free with LendingTree Spring.

Travelers’ rates for drivers with bad credit

CompanyAnnual rate
Travelers$3,506
U.S. Average$3,705

Travelers charges teen drivers, specifically 18-year-olds, $2,655 a year for liability car insurance. They pay $5,758 a year for full coverage.

Its liability rate is 1% less than the national average, but its full-coverage rate is 9% higher.

Travelers’ rates for teen drivers

CompanyAnnual liability rateAnnual full coverage rate
Travelers$2,655 $5,758
U.S. average$2,433 $5,824

Travelers offers many discounts, making its car insurance rates more competitive. The biggest savings come from bundling your car and homeowners policies.

You can also save big by enrolling in IntelliDrive, Travelers’ smartphone-based safe driving program. The app monitors your driving for 90 days to determine if you should get future discounts, although your rates may increase if the system detects unsafe driving.

Other discounts from Travelers include:

  • Home-ownership discount, even if you insure your home with a different company
  • Safe-driver discount for avoiding tickets and accidents for at least three years
  • Discount for driving a hybrid or electric vehicle
  • New car discount for vehicles less than three model years old

In addition to all the normal car insurance coverages, such as liability and collision, Travelers offers gap insurance and original equipment coverage.

  • Gap insurance covers the difference between your car’s value and your loan balance. Lenders typically require GAP insurance if you owe more on your car than its market value.
  • Original equipment manufacturer (OEM) coverage pays to replace damaged parts with original ones. Without this coverage, your insurance company may only pay for cheaper, after-market parts.

Travelers’ new car replacement covers a new car for up to five years. Other companies also offer new car replacement, but their coverage usually only lasts one or two years.

Travelers charges an average of $3,149 a year for homeowners insurance, or $262 a month.

Although this amount is 14% higher than the national average, Travelers’ rates vary by state. For example, in Kansas, Maryland and Massachusetts, it offers the cheapest homeowner policy rates among the major insurers.

CompanyAnnual rate
Erie$2,055
State Farm$2,427
Allstate$2,560
Progressive$2,648
Country Financial$2,827
Nationwide$3,055
American Family$3,072
Travelers$3,149
Farmers$3,801

Find the Cheapest Home Insurance Quotes in Your Area

Travelers offers fewer discounts for homeowners insurance than it does for car insurance.

Its key home insurance discounts include:

  • Multipolicy discount for combining your home and car insurance
  • Homebuyer discount, if you’ve purchased your home within the past 12 months
  • Discount for smoke detectors, interior sprinklers or other protective devices
  • Discount for certified “green” homes

Travelers offers all the normal home insurance coverages and upgrades, but not much else.

Its standard policies cover your belongings at “actual cash value,” or the value of your stuff after depreciation. However, you can pay extra for “replacement cost coverage,” which covers stolen or damaged items at the price they cost when new.

Travelers’ water backup endorsement is usually worth adding to your home insurance. This covers cleanup and repairs for a sewer or drainage backup, which can get extremely messy.

You can also add identity fraud protection to a Travelers home insurance policy. However, the coverage caps out at $25,000, which might not be very much in some situations.

Methodology

LendingTree obtains rates from insurance company filings reported to Quadrant Information Services.

Car insurance rates are based on an analysis of quotes for sample drivers from every ZIP code in 23 states. Home insurance rates are based on quotes for home insurance in 33 states.

Our sample driver for car insurance quotes is a 30-year-old man with good credit and no tickets, accidents or DUIs. The sample vehicle is a 2015 Honda Civic EX.

Full coverage policies include:

  • Bodily injury liability: $50,000 per person, $100,000 per accident
  • Property damage liability: $25,000
  • Uninsured motorist: $50,000 per person, $100,000 per accident, where required by law
  • Personal injury protection: Minimum limits, where required by law
  • Collision: $500 deductible
  • Comprehensive: $500 deductible

Homeowners policies include:

  • Dwelling coverage: $400,000
  • Other structures: $40,000
  • Personal property: $200,000
  • Personal liability: $100,000
  • Medical payments: $5,000
  • Deductible: $1,000

Rates are shown for comparative purposes only. Yours may vary.