Travelers insurance review 2023

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:

Travelers car insurance cost

A full coverage auto insurance policy with Travelers costs an average of $1,551 per year and $495 for minimum coverage, according to 2023 premium data from Quadrant Information Services. Comparatively, the national average cost of car insurance is $2,014 per year for full coverage and $622 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. We did not include DUI rate data as some companies may not take on a policy for a driver with a DUI. If you have a DUI conviction, you may need to look into high-risk car insurance options. 

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

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 car tools and benefits

Travelers’ IntelliDrive program is a 90-day telematics program that may offer drivers a way to earn savings on the first term of their car insurance policy. 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. Safe driving habits could lead to a savings of up to 30 percent during the next policy term, but risky driving could cause premiums to become more expensive in some states.

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 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.

Travelers home insurance cost

Based on Bankrate’s research of average premiums, Travelers home insurance costs $1,249 per year for $250K in dwelling coverage. This is lower compared to the national average cost of homeowners insurance which is $1,428 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.

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.

Travelers home tools and benefits

Travelers has partnered with BuildFax to create OpenHouse, a service that helps homeowners understand more about their home or a home they may be considering purchasing. By entering in the home’s address, users can see the related permits and repairs history. This might help you understand damage that has occurred at a home in the past and may be likely to occur again, or could help you identify what improvements have been made to the home. This information may give you a better foundation to make a home-buying decision.

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 break down Travelers’ scores by auto and home insurance in the sections below.

One third-party score that stays consistent across different products is financial strength. Here, Travelers shines. AM Best gives the company an A++ (Superior) financial strength rating, the highest level available. This means that, historically, Travelers has been able to pay out its claims obligations.

Travelers auto satisfaction

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 seven. Of those seven regions, Travelers was ranked below the industry average in five. Only in the Mid-Atlantic and New York regions was Travelers ranked above average. Travelers also scored significantly below the industry average for auto claims satisfaction.

Travelers' data from the NAIC is a bit better. For its private passenger (personal auto) insurance product, Travelers receives a complaint index of 0.76. Any score below the baseline of 1.00 indicates that the NAIC receives fewer-than-average complaints about a particular company.

Travelers homeowners satisfaction

The third-party service scores for Travelers home insurance are similar to the scores for auto insurance. In the 2022 J.D. Power U.S. Home Insurance Study, Travelers received a score of 794/1,000, which was the third-lowest score in the study and well below the industry average. Travelers also ranked near the bottom of the 2022 J.D. Power U.S. Property Claims Satisfaction Study, with a score that is 19 points lower than the industry average.

The NAIC gave Travelers a 0.33 complaint index for home insurance, though, which means fewer-than-average complaints were recorded. Speaking with current policyholders in your area may help you decide whether the service from Travelers meets your needs.

How to file a claim with Travelers

To file a claim with Travelers, you can:

• File online
• Call 1-800-252-4633
• Call your local agent
• File within the mobile app

Once your claim is filed, you’ll speak with an adjuster who will take your information, research your damage, review your coverage and decide if your claim is a covered loss. If it is, you’ll discuss the details of your payment with your adjuster.

Travelers availability

While Travelers isn’t available nationwide, it does have a relatively large coverage area. Here, we showcase the states where Travelers currently is not available.

Travelers auto insurance is available in all states except:

• Alaska
• Hawaii
• Louisiana
• Michigan
• North Dakota
• South Dakota
• West Virginia
• Wyoming

Travelers home insurance is not available in the following states:

• Alaska
• Florida
• Hawaii
• Louisiana
• West Virginia

Other Travelers perks worth considering

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.

Travelers corporate sustainability

Every year, Travelers releases a Community Report as an overview of its philanthropic and volunteer efforts over the past year. In 2021, the company raised $24 million toward nine different community efforts, including education, community and economic development, disaster relief and arts and culture.

Many of Travelers’ initiatives also go beyond donations. In 2020 and 2021, the company donated over 144,000 meals to families in the Hartford, CT, area in partnership with nonprofit organizations like Hands on Hartford, Community Renewal Team and Open Hearth. Travelers employees are also actively involved in the community, with many participating in mentorship and tutoring programs through Travelers EDGE, which aims to support underrepresented students in college and build careers within the insurance and financial services industry.

Not sure if Travelers is right for you?

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.

Travelers vs. Auto-Owners

Auto-Owners might be a good choice if you are attracted to Travelers’ robust policy options. If you’re looking for life insurance, Auto-Owners could be a good choice. 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. Auto-Owners is only available in 26 states, though, so Travelers has a wider coverage area.

Learn more: Auto-Owners Insurance review

Travelers vs. Farmers

If you’re looking for non-insurance related perks, you might want to get 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'.

Learn more: Farmers Insurance review

Travelers vs. State Farm

State Farm’s consistently strong performance with customer service ratings could be a draw for customers who want personalized service. The company is among the most well-known in the industry and provides a large network of local agents to connect with for service. Travelers could be a better option if you have an eco-friendly home, though, as the provider offers a unique green home discount.

Learn more: State Farm Insurance review

Is Travelers a good insurance company?

Travelers might be a good company if you value robust policy options, especially for car insurance. While its home insurance options aren’t as extensive, they still provide the option to personalize your coverage to a degree. However, Travelers falls short of many of its competitors when it comes to customer satisfaction. Shopping around and getting quotes from several companies may help you identify the best option for you.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for 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 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Auto

• $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 sample drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.

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 and single at-fault accident. 

Homeowners

• Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2023 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.

Like our previous Bankrate Scores, 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. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

• 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 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.