Skip to Main Content

Travelers insurance review 2024

Updated Jun 06, 2024
  • At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .

At a glance

4.2
Rating: 4.2 stars out of 5
Bankrate Score
Caret Down

Auto

Rating: 4.2 stars out of 5

4.2

Caret Down

Cost & ratings

Rating: 4.3 stars out of 5

4.3

Coverage

Rating: 4 stars out of 5

4.0

Support

Rating: 4.3 stars out of 5

4.3

Home

Rating: 4.1 stars out of 5

4.1

Caret Down

Cost & ratings

Rating: 3.8 stars out of 5

3.8

Coverage

Rating: 4.3 stars out of 5

4.3

Support

Rating: 4.5 stars out of 5

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.

  • Numerous potential discounts for young drivers
  • Offers IntelliDrive program for auto insurance, rewarding safe driving with up to 30 percent savings
  • Provides comprehensive home insurance endorsements, including water backup and green home coverage
  • Strong financial strength rating from AM Best (A++ Superior)
  • Mixed customer satisfaction scores, often below industry averages in J.D. Power studies
Travelers logo

We want to know what you think about Travelers

Do you have experience with Travelers? Let us know your thoughts.

New

What's new with Travelers?

In May 2024, Travelers Insurance announced that home insurance rates in California would increase by 15.3 percent for most policies starting in June. This decision aligns with the broader trend among insurance companies in California, which have been limiting policies and raising rates due to factors like increased construction costs, inflation and heightened wildfire risks. The new rate increase follows Travelers' previous reductions in the number of policies and reflects the ongoing adjustments insurers are making to manage their exposure to wildfire-related losses.

Travelers car insurance review

Travelers car insurance might be a good option for drivers who want robust policies. If your idea 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:

Green circle with a checkmark inside

Pros

  • Robust coverage options
  • Numerous potential discounts
  • Local agents available
Red circle with an X inside

Cons

  • Not available nationwide
  • Rideshare coverage only available in two states
  • Below-industry-average J.D. Power auto claims satisfaction score
Caret Down

Travelers car insurance cost

A full coverage auto insurance policy with Travelers costs an average of $1,895 per year and $494 for minimum coverage, according to 2024 premium data from Quadrant Information Services. Comparatively, the national average cost of car insurance is $2,311 per year for full coverage and $640 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.

How much is Travelers car insurance?

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.

Good driver, good credit
Travelers full coverage premium
$1,895
National full coverage premium
$2,311
Travelers full coverage premium
$2,531
National full coverage premium
$4,261
Travelers full coverage premium
$2,604
National full coverage premium
$2,789
Travelers full coverage premium
$2,895
National full coverage premium
$3,299
Travelers full coverage premium
$3,677
National full coverage premium
$4,426
*All rates displayed are average annual rates.

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.

Travelers full coverage premium
$4,089
National full coverage premium
$4,974
Travelers full coverage premium
$3,510
National full coverage premium
$4,280
Travelers full coverage premium
$3,634
National full coverage premium
$4,697
Travelers full coverage premium
$2,252
National full coverage premium
$2,930
Travelers full coverage premium
$2,052
National full coverage premium
$2,500
Travelers full coverage premium
$1,895
National full coverage premium
$2,311
Travelers full coverage premium
$1,695
National full coverage premium
$2,080
Travelers full coverage premium
$1,895
National full coverage premium
$2,311
Travelers full coverage premium
$1,695
National full coverage premium
$2,080
*All rates displayed are average annual rates. Rates are based on our good driver profile, with 16- and 18-year-old drivers added to their parents’ policy.

Compare Travelers car insurance rates 

Travelers car insurance rates are typically lower than the national average. However, comparing rates with other big-name insurers can provide a clearer picture of its competitiveness. The table below shows how Travelers' rates stack up against nine other major insurance companies for both minimum and full coverage options.

Company Avg. full coverage premium Avg. min coverage premium
$1,895
$494
$2,624
$827
$2,055
$649
$2,892
$861
$2,016
$561
$1,950
$702
$2,222
$748
$1,901
$719
$1,696
$440
CSAA
$3,573
$603
$1,950
$702
$2,222
$748
$1,901
$719
$1,696
$440
CSAA
$3,573
$603
*All rates displayed are average annual rates.

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.

Travelers auto claims satisfaction

J.D. Power releases two auto insurance-focused studies: the U.S. Auto Insurance Study and the U.S. Auto Claims Satisfaction Study. These studies assess the overall service and claims experience of various insurance companies based on customer feedback. When it comes to claims satisfaction, Travelers' performance has been mixed compared to other carriers. In the 2023 J.D. Power Auto Claims Satisfaction Study, Travelers scored 871 out of 1,000, which is below the industry average of 878. In the U.S. Auto Insurance Study, Travelers was rated in eight of the 11 regions and was ranked below the industry average in all but one region — New York. This suggests that while Travelers offers competitive rates, the company's claims service could be an area for improvement.

J.D. Power Auto Claims Satisfaction Study

Travelers auto insurance customer complaints

The NAIC tracks customer complaints against insurance companies and provides a baseline complaint index of 1.00 to represent the industry average. This index helps consumers understand how frequently complaints are made against an insurer relative to its size. A score higher than 1.00 indicates more complaints than average, while a score lower than 1.00 indicates fewer complaints than average. Travelers' NAIC complaint index for auto insurance has varied over the past few years, but generally remains below the industry average, suggesting a relatively satisfactory performance in handling customer complaints.

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:

  • Early quote: If you request a Travelers car insurance quote before your current policy expires, you may be eligible for this discount.
  • Homeownership: If you own a home — even if you don't insure it with Travelers — you might save on your car insurance.
  • Hybrid/electric car: You could qualify for this discount if you own or lease your hybrid or electric vehicle.
  • New car: This discount may be added if you purchase a new car or own a vehicle less than three years old.

Get personalized auto insurance quotes

Answering a few quick questions to check your availability with Travelers
Location-Icon
Your information is kept secure

Powered by Coverage.com (NPN: 19966249)

Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Travelers home insurance review

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 the company losing a few points in its Bankrate Score — although it’s still high at 4.2.

Pros and cons of Travelers homeowners 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.

Green circle with a checkmark inside

Pros

  • Several endorsements available
  • Offers a green home discount
  • Offers a free home history tool called OpenHouse for homebuyers
Red circle with an X inside

Cons

  • Not available nationwide
  • Below-average J.D. Power customer satisfaction score
  • Slightly below-average J.D. Power claims satisfaction score
Caret Down

Travelers home insurance cost

Based on Bankrate’s research of average premiums, Travelers home insurance costs $2,325 per year for $300K in dwelling coverage. This is 4 percent more compared to the national average cost of homeowners insurance, which is $2,230 for the same amount of dwelling coverage. Your rate will 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.

$150K dwelling
Travelers average premium
$1,373
National average premium
$1,354
$300K dwelling
Travelers average premium
$2,325
National average premium
$2,230
$350K dwelling
Travelers average premium
$2,664
National average premium
$2,490
$450K dwelling
Travelers average premium
$3,370
National average premium
$3,020
$750K dwelling
Travelers average premium
$5,117
National average premium
$4,451

Compare Travelers homeowners insurance rates

When comparing homeowners insurance rates, it's helpful to understand how prices can vary significantly between companies. Rates are influenced by multiple factors, including location, the age and condition of the home, coverage limits and more. Travelers often provides rates that hover around the national average, making it a competitive option for many homeowners. Here’s how Travelers' homeowners insurance rates compare to nine other big-name insurers.

Company Avg. annual premium Difference compared to national average
$2,325
+ $95
$1,854
- $376
$1,959
- $271
$1,452
- $778
$1,681
- $549
$3,521
+ $1,291
$1,594
- $636
Progressive
$2,369
+ $139
$1,827
- $403
$1,544
- $686
$3,521
+ $1,291
$1,594
- $636
Progressive
$2,369
+ $139
$1,827
- $403
$1,544
- $686

Travelers customer satisfaction

Understanding customer satisfaction is crucial when choosing a home insurance provider. Third-party ratings, like those from J.D. Power, offer valuable insights into customer experiences and service quality. J.D. Power conducts annual surveys, evaluating customer satisfaction on a 1,000-point scale, with higher scores indicating better overall satisfaction. For financial stability, AM Best ratings are also essential, as they assess a company's ability to meet its financial obligations and handle claims efficiently. These ratings help provide a clearer picture of what you can expect from Travelers' home insurance services.

Travelers homeowners claims satisfaction

When it comes to claims satisfaction, Travelers' homeowners insurance falls below the industry average. The 2024 J.D. Power U.S. Property Claims Satisfaction Study, which assesses the performance of insurance companies in handling claims, gave Travelers a score of 845 out of 1,000, significantly lower than the industry average of 869. This places Travelers second to last in the rankings, indicating that many customers may not be as satisfied with the claims process compared to other insurers. Considering these scores when evaluating Travelers' ability to manage and process claims effectively is important.

J.D. Power Property Claims Satisfaction Study

Travelers home insurance customer complaints

The NAIC tracks customer complaints against insurance companies, using a baseline of 1.0 to represent the expected number of complaints for a company of its size. A score above 1.0 indicates more complaints than expected, while a score below 1.0 indicates fewer complaints.

Travelers' home insurance complaint index has shown an upward trend over the past three years, indicating an increase in customer dissatisfaction. Although it started below the industry average, recent scores suggest that customer complaints have risen and are now above the average for home insurance products.

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.

  • Green home: Homes that have received a “green home” certification from the Leadership Energy and Environmental Design (LEED) organization could be eligible for up to a 5 percent discount.
  • Homebuyer: Homeowners who bought their home within the last 12 months could earn this discount.
  • Loss-free: If you have not filed a home claim within a certain period of time, this discount could be added to your policy.
  • Protective devices: If your home has smoke detectors and fire alarms, an interior sprinkler system, a home security system or smart home features, you could earn a discount on your Travelers home insurance.

Get personalized home insurance quotes

Answering a few quick questions to check your availability with Travelers

Location-Icon
Your information is kept secure

Powered by Coverage.com (NPN: 19966249)

Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Mortgage

Leaving so soon? Your custom quotes are just minutes away.

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.

Badge 1 Featured

Travelers

Travelers
Rating: 4.2 stars out of 5
4.2
Caret Down

Cost & ratings

Rating: 4.1 stars out of 5
4.1

Coverage

Rating: 4.2 stars out of 5
4.2

Support

Rating: 4.4 stars out of 5
4.4

Auto-Owners

Auto-Owners
Rating: 4.5 stars out of 5
4.5
Caret Down

Cost & ratings

Rating: 4.8 stars out of 5
4.8

Coverage

Rating: 4.2 stars out of 5
4.2

Support

Rating: 4.2 stars out of 5
4.2

Farmers

Farmers
Rating: 3.7 stars out of 5
3.7
Caret Down

Cost & ratings

Rating: 3.3 stars out of 5
3.3

Coverage

Rating: 4.2 stars out of 5
4.2

Support

Rating: 3.9 stars out of 5
3.9
OVERVIEW
Info
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.
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'.
STANDOUT FEATURES
Info
Caret Down
Offers diminished value coverage
Loan
Discounts for young drivers
Rates Up
Superior financial strength
Dollar Coin
Robust coverage options
Business
Local agents available
Auto Car
Signal telematics discount
AVG FULL COV. AUTO RATE
Info
$1,696 $3,184
J.D. POWER AUTO SCORE
Info
865/1000 882/1000
AVG HOME RATE
Info
$1,544 $2,500
J.D. POWER HOME SCORE
Info
834/1000 800/1000
AM BEST RATING
Info
A++(Superior) A(Excellent)
Bankrate logo

Why you can trust Bankrate

Read our full methodology

Our insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Travelers insurance review.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

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 coverage 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 both the J.D. Power 2024 Auto Claims Satisfaction Study and 2024 Property Claims Satisfaction Study, Travelers was below the industry average in terms of customer satisfaction. Shopping around and getting quotes from several companies may help you identify the best option for you.

What are real-life customers saying about Travelers?

To provide a clearer picture of the customer experience with Travelers, we've sourced first-hand takes from two popular online platforms: Reddit and Trustpilot. These forums offer a space for candid discussions and personal anecdotes, giving consumers insight into what they might expect from Travelers' services. While Reddit fosters a broad range of discussions, including user experiences with insurance companies, Trustpilot hosts detailed reviews and ratings, providing depth to the understanding of a company's service quality.

Reddit reviews

Reddit User 1*
Feb 2, 2023
Travelers is a solid company. They have good...
“Travelers is a solid company. They have good claims services. I know a couple people who have had claims on auto with Travelers. The first person I know was rear ended and decided to file through their own carrier (Travelers). She said from start to finish the claim service was fantastic and that they were responsive and took really good care of her. My Dad was also hit by a driver insured by Travelers. He filed a third party claim with Travelers. He was not their insured but in 24 hours they called him[,] accepted liability for the accident and set him up for repairs. He had no issues with them.”
Reddit User 2*
Jan 16, 2024
Travelers home and auto. This company will...
“Travelers home and auto. This company will drop you as soon as you become unprofitable to them. The money flows in one direction only. We pay 4k a year for home and auto. My daughter's vehicle was broken into twice with claims of 1500, and we were dropped after 8 years. My mother's home had a laundry room water line break. It was repaired, and they held out on paying the last depreciation portion for months until I emailed and asked where the check was. Then, they miraculously cut the check that day. Do not go with this company.”

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

Trustpilot reviews

Trustpilot User 1*
Feb 28, 2019
A deer hit my car and Travelers was prompt...
“A deer hit my car and Travelers was prompt to review and accept the repair costs (10k), less my deductible. A year later, mice had entered my garage, entered underneath my car and ate the wires. Eventually, my dashboard went blank. Again, Travelers covered the costs (2k).”
Trustpilot User 2*
Feb 6, 2022
It was great to have the 900 for a rental for...
“It was great to have the 900 for a rental for how many ever days, but half the time was spent waiting on their adjusters. I have had 3 accidents and none were my fault: rear-ended, animal, suspected drunk driver. They had me waiting on the side of the road for over 4 hours for the tow truck, which was coming from a location 1.5 hours away that they got. Just getting the animal claim started took almost two weeks. I have yet to see my deductible back for the drunk driver accident that happened Dec 2020, even though I keep being told they are and should have processed it. Plus, so far everything I've asked for an email notification they say sure no problem and then snail mail it. Yes, I'm switching insurance.”

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

Travelers company details

If you need to contact Travelers, here are a few ways to do so:

  • Quotes: 1-866-218-5587
  • Billing and service: 1-800-842-5075
  • Claims: 1-800-252-4633
  • Technical assistance: 1-877-754-0481
  • Customer advocacy: 1-866-336-2077
  • Payment address:
    Travelers Personal Insurance
    PO BOX 660307
    Dallas, TX 75266-0307

State availability

Travelers auto insurance is available in all states except AK, HI, LA, MI, ND, SD, WV and WY. Travelers home insurance is available in all states except AK, FL, HI, LA and WV.

Travelers tools and benefits

Although Travelers may be well-known for its home and auto insurance policies, the company also offers other insurance products. These include:

  • 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

Bankrate utilizes Quadrant Information Services to analyze June 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.

Auto

Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full 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 2022 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 parent's 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, single at-fault accident and single DUI conviction.

Credit-based insurance scores: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Four states prohibit or limit the use of credit as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

Homeowners

Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • 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

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.

5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • Support 20%
  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Written by
Ashlyn Brooks

Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute