Travelers Insurance Review (2024)
- Expertise: Auto insurance, home insurance and renters insurance
- Education: University of California-Berkeley (BA in History)
Rob Bhatt is a licensed insurance agent and joined the staff of Lending Tree in 2021. Previously, he spent more than 20 years writing for and editing regional publications in California, Nevada and Washington. Rob enjoys helping readers understand how different coverages work so they can make informed purchasing decisions, and he specializes in producing research-backed content for LendingTree about auto, home and renters insurance. His work has been cited by ABC, Business Insider, MSN and Yahoo.
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.
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 11% higher than the national average
Below-average customer satisfaction scores for home and auto
Is Travelers a good company?
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.
| Category | Rating | Segment average |
|---|---|---|
| Auto satisfaction (higher is better) | 805 | 820 |
| Home satisfaction (higher is better) | 790 | 819 |
| Auto complaint rating (lower is better) | 0.6 (Good) | 1.0 |
| Home complaint rating (lower is better) | 0.2 (Excellent) | 1.0 |
| Financial strength | A++ | 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
How much is Travelers car insurance?
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.
| Company | Annual full-coverage rate | Annual 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 |
Is Travelers good for drivers with a ticket, accident or DUI?
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
| Company | Ticket | Accident | DUI |
|---|---|---|---|
| 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
| Company | Annual rate |
|---|---|
| Travelers | $3,506 |
| U.S. Average | $3,705 |
How much is Travelers insurance for teens?
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
| Company | Annual liability rate | Annual full coverage rate |
|---|---|---|
| Travelers | $2,655 | $5,758 |
| U.S. average | $2,433 | $5,824 |
Which car insurance discounts can I get from Travelers?
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
What does Travelers car insurance cover?
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.
How much is Travelers homeowners insurance?
Travelers charges an average of $3,149 a year for homeowners insurance, or $262 a month.
Although this amount is 11% 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.
| Company | Annual 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 |
Which home insurance discounts can I get from Travelers?
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
What does Travelers home insurance cover?
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.