Travelers insurance review 2024
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At a glance
Score breakdown
Auto
4.2
Cost & ratings
4.3
Coverage
4.0
Support
4.3
Home
4.1
Cost & ratings
3.8
Coverage
4.3
Support
4.5
About Bankrate Score
Bankrate's take
Customers who value robust policy options and want the ease of managing all their insurance policies in one place may find Travelers to be an appealing option.
Who Travelers may be good for: Drivers and homeowners looking to customize and build out their coverage with unique auto add-ons may be interested in bundling with Travelers.
Who Travelers may not be good for: If customer satisfaction is a top priority for you, third-party metrics indicate that Travelers may disappoint in that category.
We want to know what you think about Travelers
Do you have experience with Travelers? Let us know your thoughts.
Travelers car insurance
Travelers car insurance might be a good option for drivers who want robust policies. If your definition of the best car insurance company includes one with plentiful endorsement options and discounts, Travelers could fit your needs. In addition to the basic coverage types — like liability, collision, comprehensive, personal injury protection and medical payments — you might be able to add optional coverage like gap insurance, new car replacement, roadside assistance and accident forgiveness. Travelers also offers rideshare coverage, but only in Colorado and Illinois.
Travelers car insurance is only available in 42 states and Washington, D.C. The lack of national availability combined with Travelers’ low average J.D. Power auto claims satisfaction score brought down the company’s auto insurance Bankrate Score.
Pros and cons of Travelers car insurance
As you gather car insurance quotes, you may want to do more than just compare rates. Finding the right car insurance company for you may involve looking at other metrics, including third-party scores, available coverage options, discounts and digital tools. Our Travelers Insurance review identified these pros and cons of the company’s car insurance:
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Robust coverage options
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Numerous potential discounts
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Local agents available
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Not available nationwide
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Rideshare coverage only available in two states
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Industry below average J.D. Power auto claims satisfaction score
Travelers car insurance cost
A full coverage auto insurance policy with Travelers costs an average of $1,565 per year and $459 for minimum coverage, according to May 2024 premium data from Quadrant Information Services. Comparatively, the national average cost of car insurance is $2,299 per year for full coverage and $637 for minimum coverage. Rates may vary based on a number of factors, though, and your ability to find cheap car insurance could depend on your unique situation. Below, we analyze Travelers’ average rates across a range of driver profiles.
Travelers car insurance rates by driving history
Your driving history is typically one of the biggest rating factors for most car insurance companies. If you have a history of tickets or at-fault accidents, you’ll likely pay more for coverage, because an insurer will probably view you as a higher risk for filing claims in the future.
Below, we look at Travelers’ average rates compared to the national average for a few different driving incidents. Note that although we did include rates for drivers with DUI convictions, coverage eligibility for high-risk drivers will depend on your unique driving history and other rating factors.
Travelers full coverage premium | National full coverage premium | |
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Clean driving history | $1,565 | $2,299 |
Speeding ticket conviction | $2,116 | $2,773 |
At-fault accident | $2,293 | $3,280 |
DUI conviction | $2,825 | $4,399 |
Travelers car insurance quotes by age
In almost all states, your age may also play a role in your car insurance premium. Rates tend to be higher for younger drivers, since they have less experience behind the wheel. Young drivers on their own policies pay some of the highest average rates. Below you can see Travelers’ average rates compared to the national average rates across a range of ages, and for young drivers both on and off their parents’ policy.
Average cost of car insurance for drivers on their parents’ policy
Travelers full coverage premium | National full coverage premium | |
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Age 16 | $3,609 | $5,015 |
Age 17 | $3,195 | $4,633 |
Age 18 | $2,947 | $4,333 |
Age 19 | $2,652 | $3,754 |
Age 20 | $2,498 | $3,505 |
Average cost of car insurance for drivers on their own policy
Travelers car insurance discounts
Utilizing discounts to save on car insurance could help with lowering your premium. While discounts may vary by state, a few standout discounts from Travelers include:
Travelers home insurance
Travelers home insurance may be a good option for those who value personalized coverage, but its homeowners insurance options are a bit more limited than its car insurance. If you are considering a Travelers home insurance policy, you may be able to add coverage options like jewelry and valuables, water backup, identify fraud and green home coverage to round out your protection.
Just like its auto insurance, Travelers home insurance scored below average for claims satisfaction and coverage is not available in all states. These factors contributed to a less-than-perfect Bankrate Score.
Pros and cons of Travelers home insurance
Comparing home quotes and other features of each company you’re considering may help you narrow down the best homeowners insurance company for you. Here are some perks and drawbacks we identified with Travelers home insurance.
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Several endorsements available
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Offers a unique green home discount
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Offers a free home history tool called OpenHouse for homebuyers
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Not available nationwide
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Below-average J.D. Power customer satisfaction score
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Slightly below average J.D. Power claims satisfaction score
Travelers home insurance cost
Based on Bankrate’s research of average premiums, Travelers home insurance costs $2,312 per year for $300K in dwelling coverage. This is lower compared to the national average cost of homeowners insurance which is $2,153 for the same amount of dwelling coverage. Your rate may vary based on your unique situation, including how much coverage you need. Below is a breakdown of average rates from Travelers compared to the national average for several dwelling coverage limits.
Dwelling coverage limit | Travelers average premium | National average premium |
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$150K dwelling | $1,365 | $1,293 |
$300K dwelling | $2,312 | $2,153 |
$350K dwelling | $2,649 | $2,447 |
$450K dwelling | $3,350 | $3,034 |
$750K dwelling | $5,485 | $4,758 |
Travelers home insurance discounts
If you’re shopping for cheap home insurance, you may want to take advantage of as many discounts as possible. Below are some of Travelers’ home insurance discounts, but keep in mind that availability may vary by state.
Compare Travelers with other insurers
When shopping for insurance, most insurance professionals recommend requesting insurance quotes from more than one home and car insurance carrier. This may give you an opportunity to compare coverage and premiums, as well as experience each company’s customer service. If you're not sure Travelers meets your needs or you live outside its service area, these companies may also be worth a look.
Featured
Travelers
4.2
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 4.1Coverage 4.2Support 4.4 |
Auto-Owners
4.5
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 4.8Coverage 4.2Support 4.2 |
Farmers
3.7
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 3.3Coverage 4.2Support 3.9 |
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OVERVIEW
Bankrate identified key carrier features, coverage offerings, discounts and more
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Customers who value robust policy options and want the ease of managing all their insurance policies in one place may find Travelers to be an appealing option.
Read More
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Auto-Owners might be a good choice if you are attracted to Travelers’ robust policy options or if you’re looking for life insurance. The company sells several types of life insurance policies and even offers a potential discount on your auto or home insurance if you have a life insurance policy. While Auto-Owners tied with Geico for our 2024 Bankrate Award for Best Budget Auto Insurance Company, it is only available in 26 states. Those seeking a company with a wider coverage area may lean toward getting a policy from Travelers.
Read More
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If you’re looking for non-insurance related perks, you might consider a quote from Farmers. The company offers a car buying program called TrueCar that might help you find your next vehicle. You could also take advantage of the other partnerships that Farmers has, like savings on pet insurance from Pets Best or a discount on a Flume water leak detection device. Travelers might be the better option if you like to handle your coverage digitally, though, as Farmers’ website may not be as intuitive as Travelers'.
Read More
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STANDOUT FEATURES
These features are some of the carrier’s most impressive
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Hybrid/electric car discount
New car replacement endorsement
Online quotes available
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Offers diminished value coverage
Discounts for young drivers
Superior AM Best financial strength rating
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Robust coverage options
Local agents available
Signal telematics discount
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AVG FULL COV. AUTO RATE
Average national annual cost of a full coverage auto insurance policy
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$1,565 | $1,631 | $2,970 |
J.D. POWER AUTO SCORE
J.D. Power’s Auto Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
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854/1000 | 865/1000 | 882/1000 |
AVG HOME RATE
Average national annual cost of a home insurance policy with $300K in dwelling coverage
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$2,312 | $1,406 | $2,510 |
J.D. POWER HOME SCORE
J.D. Power’s Property Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
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790/1000 | 834/1000 | 800/1000 |
AM BEST RATING
AM Best ratings assess companies’ financial strength based on historical ability to pay out claims, among other financial obligations
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A++(Superior) | A++(Superior) | A(Excellent) |
Is Travelers a good insurance company?
Travelers Insurance may be a good company for you if you value having a wide array of policy options to choose from. This is particularly true of the company's car insurance options. The company has worked to improve and expand its home insurance coverages as well, and bundling may provide discounts. As far as customer satisfaction, Travelers Insurance is slightly below average according to J.D. Power surveys. In the 2023 Auto Claims Satisfaction Study, Travelers was below the industry average in terms of customer satisfaction. For its 2023 Property Claims Satisfaction Study, Travelers finished below the industry average. Shopping around and getting quotes from several companies may help you identify the best option for you.
Travelers customer satisfaction
As you shop for the best insurer for your needs, you might want to take customer satisfaction into consideration. Service may be an integral part of the insurance experience. We look primarily at J.D. Power ratings and complaint indexes from the National Association of Insurance Commissioners (NAIC) to establish a company’s service level. We also analyzed the carrier's financial strength rating from AM Best as an indication of its historical ability to pay out claims. We break down Travelers’ scores by auto and home insurance in the sections here.
Study or Rating Agency | Travelers | Industry average |
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2023 J.D. Power Digital Experience Study - Service | 694/1,000 | 702/1,000 |
2023 J.D. Power Digital Experience Study - Shopping | 517/1,000 | 521/1,000 |
AM Best rating | A++ (Superior) | N/A |
Each year, J.D. Power puts out two auto-insurance focused studies, the U.S. Auto Insurance Study and the U.S. Auto Claims Satisfaction Study, to assess overall service and claims service of various insurance companies. Of the 11 regions included in the Auto Insurance Study, Travelers was rated in eight. Of those eight regions, Travelers was ranked below the industry average in all but one. Only in the New York region was Travelers ranked above average. Travelers also scored significantly below the industry average for auto claims satisfaction.
Travelers customer complaints
To assess customer satisfaction, Bankrate's insurance editorial team also analyzed complaint indexes from the National Association of Insurance Commissioners (NAIC). These indexes provide an idea of how many complaints the NAIC receives for a company compared to its industry market share. Indexes are assigned by product type with a baseline of 1.00. An index above 1.00 indicates more complaints than expected for a carrier's market share, while an index below 1.00 indicates fewer.
Travelers received fewer complaints than expected for its private passenger auto insurance product for the past three years. Its 2022 index was particularly low, receiving less than half the number of complaints expected for a company of its size.
Travelers' complaint indexes for its homeowners insurance product are less consistent than those for its auto insurance product. While its index has been quite low for the past two years, it received more than twice as many complaints than expected for its home product in 2020. Prospective customers may want to speak with long-term policyholders to get an idea of the carrier's customer satisfaction consistency.
Other Travelers tools and benefits
- Travel insurance: Depending on the options you choose, this policy may cover trip cancellation, medical costs and lost luggage.
- Wedding and event insurance: Event insurance is used to cover items like lost deposits, event gifts, liquor liability and more.
- Condominium insurance: Condominium insurance is designed for condo owners and specifically covers the interior of the unit.
- Renters insurance: As a renter, this policy may help with insuring your personal belongings and providing loss of use and liability protection.
- IntelliDrive®: Travelers’ IntelliDrive program is a 90-day telematics program that may offer drivers up to 30 percent in savings. With the smartphone app, the IntelliDrive program will track driving behaviors like speed, acceleration, braking and distraction, as well as what time of day the car is being driven.
- Pet insurance: Travelers partners with the ASPCA Pet Health Insurance to bring pet policies to their customers at a discounted rate.
- Boat and yacht insurance: Travelers offers a slew of different coverage options for watercraft, such as towing, liability and personal property.
- Landlord insurance: If you need an extra layer of financial protection for your rental property, you can purchase a landlord insurance policy through Travelers.
Frequently asked questions about Travelers
Methodology
Auto
Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female homeowners with a clean claims and incidents history, good credit and the following coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.
The rates for drivers ages 16-20 added to their parents' policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.
Homeowners
- Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Bankrate Scores
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%