Founded in 1864, Travelers is one of the most enduring and well-known names in insurance. It’s among the nation’s largest car insurance companies and is the sixth-largest homeowners insurance provider by market share.
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In this article:
- Travelers Insurance pros and cons
- Auto insurance
- Other insurance
- Customer reviews and ratings
- Website and apps
- Next steps
Travelers sells coverage through its network of 13,000 independent agents. In addition to auto and home insurance, the company offers renters and condo coverage, wedding insurance, identity fraud protection, multiple types of business insurance, and more.
If you’re looking for an in-person experience with an agent, want to buy multiple products from one provider, and are comfortable with paying mid-range prices, Travelers might be a good fit.
Here are some pros and cons of Travelers:
| Pros | Cons |
|---|---|
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Travelers auto insurance
Travelers has coverage options similar to most major insurance companies. This includes liability insurance, comprehensive and collision, uninsured motorist coverage and personal injury protection.
You can also add optional coverages, including gap insurance, towing and labor coverage, and rental car reimbursement, which pays for a temporary vehicle if yours is in the shop after a covered accident. The company offers ridesharing insurance in Colorado and Illinois.
» MORE: Best auto insurance companies for rideshare drivers
Car insurance discounts
Based on NerdWallet research, Travelers is usually in the middle of the pack when it comes to car insurance rates. Occasionally, it ranks as one of the least expensive options among large insurers.
Travelers provides discounts, including:
- Hybrid/EV discount, for customers who drive a hybrid or electric vehicle.
- Student away at school discount, for customers who have a child attending college at least 100 miles away from home.
- Continuous insurance discount, for customers who have no insurance gaps on their records.
- Safe driver discount, for customers without moving violations or at-fault crashes on their records.
Customers in Alabama, Connecticut, Illinois, Indiana, Maine, Ohio, Oregon and Virginia who drive 13,000 miles or fewer each year might also save money with Travelers’ IntelliDrive program. Users receive a telematic device that plugs into their car and tracks mileage.
» COMPARE: Car insurance quotes
Other insurance
Travelers holds nearly 4% of the homeowners insurance market, according to A.M. Best data. It offers standard coverage options, including dwelling protection, loss of use coverage, personal property coverage and liability insurance. You can also add coverage for valuable items, water backups, identity theft and more.
Travelers’ homeowners insurance policies offer discounts for getting your home certified green; having protective devices, such as fire sprinklers and burglar alarms; and buying multiple insurance policies from the company.
Other individual insurance products are also available from Travelers, including:
- Condo insurance.
- Renters insurance.
- Boat/yacht insurance.
- Umbrella insurance.
- Wedding insurance.
- Identity fraud protection.
Businesses of many sizes and types — such as tech, transportation or construction companies and nonprofits — can also find coverage with Travelers.
Travelers sells its insurance through independent agents. Buying car insurance this way is well-suited to buyers who want an in-person experience, such as those who are new to car insurance, or who want quotes from multiple insurers.
If you already have a solid understanding of car insurance and would rather buy, arrange and manage your policy online — called direct insurance — Travelers might not be the best fit.
Customer reviews and ratings
Travelers holds an A++ (superior) financial strength rating from A.M. Best.
The company received three out of five stars for customers’ overall claims experience in J.D. Power’s 2015 auto insurance claims satisfaction study.
Travelers has a complaint ratio of 1.84, according to the National Association of Insurance Commissioners. This NAIC data shows Travelers’ number of complaints relative to market share. The median complaint ratio for the industry is 1; anything higher indicates more complaints. The bulk of Travelers’ 2015 complaints dealt with claim-handling delays and claim denials.
Website and apps
Travelers’ website contains a wealth of information and is fairly easy to navigate. You’ll find details about the company’s insurance products and an information center with articles about preparing for seasonal weather problems, home and vehicle maintenance tips, and more.
The company’s online claims center is a highlight of the site. It includes well-organized links for reporting and checking on claims, finding repair shops, and getting help from a catastrophe-response expert.
Policyholders can perform basic tasks, such as paying bills and submitting claims, with the Travelers mobile app.
Next steps
For most drivers, Travelers is worth a look. It has a wide base of knowledgeable agents and reps, competitive rates, and an array of insurance types. Keep in mind it’s always wise to shop around and compare rates from several companies.
Alex Glenn is a staff writer at NerdWallet, a personal finance site. Email: aglenn@nerdwallet.com.
Image via iStock.
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