Choosing the right insurance company can be daunting, especially when planning your travels or ensuring your home and auto are protected. Travelers Insurance is a well-established name in the industry, but what do customers and experts say about their services? This article dives into Travelers Insurance Ratings And Reviews to help you determine if they are the right fit for your needs. We’ll explore ratings from various reputable organizations, customer feedback, and highlight key aspects of their car and home insurance options.
Travelers Insurance has garnered attention from various rating agencies and customer review platforms. WalletHub editors, for instance, give Travelers a rating of 4.2/5, considering customer reviews, sample quotes, and ratings from bodies like J.D. Power and Moody’s. Customer reviews often praise Travelers for their quick response times and effective communication. However, some customers have reported dissatisfaction with claim denials. The National Association of Insurance Commissioners (NAIC) also indicates a positive standing, with Travelers receiving fewer complaints than the average insurer relative to its size, demonstrated by an NAIC rating of 0.41. Furthermore, Travelers has been accredited by the Better Business Bureau (BBB) since 2010 and holds an A+ rating, reflecting a strong business reputation.
To provide a clearer picture, let’s break down Travelers Insurance ratings from different sources:
Travelers Insurance Ratings Snapshot
- WalletHub Editors: 4.2/5
- WalletHub Customer Reviews: 1.9/5
- J.D. Power: 4.4/5
- NAIC Complaint Index: 0.41
- Better Business Bureau (BBB): A+
- S&P Global Ratings: AA
- Moody’s: Aa2
- AM Best: A++
These ratings offer a comprehensive overview of Travelers’ financial strength and customer satisfaction. High ratings from S&P, Moody’s, and AM Best signify strong financial stability, indicating Travelers’ ability to meet its financial obligations, including claim payouts. J.D. Power’s rating reflects customer satisfaction based on surveys, while the NAIC index and BBB rating provide insights into complaint levels and business conduct.
Travelers Car Insurance: Ratings and Review Highlights
Travelers car insurance positions itself as a solid option, particularly for those seeking a balance of coverage and cost. While not always the cheapest, Travelers is ranked in the 2nd quartile for price competitiveness among major insurers by WalletHub.
One of the appealing aspects of Travelers car insurance is the availability of various discounts. Customers can benefit from savings through:
- Safe Driving Discount: Up to 23% for drivers with good driving records.
- New Vehicle Discount: Up to 10% for insuring new vehicles.
- IntelliDrive® Program: Potential savings of up to 20% for participating in their driving monitoring program.
Travelers offers a comprehensive suite of traditional car insurance coverages, including:
- Bodily Injury Liability: Covers costs if you injure someone in an accident.
- Property Damage Liability: Covers damages to another person’s property.
- Uninsured/Underinsured Motorist: Protection if you’re hit by a driver without sufficient insurance.
- Medical Payments (MedPay): Covers medical expenses for you and your passengers.
- Personal Injury Protection (PIP): Similar to MedPay, but also covers lost wages and other expenses in some states.
- Comprehensive: Covers damage to your car from non-collision events like theft or weather.
- Collision: Covers damage to your car from accidents.
For those seeking extra protection, Travelers provides additional coverage options such as:
- Loan/Lease Coverage: Helps pay off your car loan if your car is totaled.
- New Car Replacement Coverage: Provides the cost of a new car if yours is totaled within a certain period.
- Responsible Driver Plan: Includes accident forgiveness and minor violation forgiveness.
Travelers also caters to specific needs with specialty auto policies, including:
- Rideshare Insurance: For drivers working for services like Uber or Lyft.
- Commercial Auto Insurance: For business vehicles.
- Collector Car Insurance: For classic or antique vehicles.
Sample Travelers Car Insurance Quotes:
| Driver Profile | Average Quote |
|---|---|
| 18-Year-Old | $107 per month |
| 21-Year-Old | $73 per month |
| 45-Year-Old | $53 per month |
| 45-Year-Old with Speeding Ticket | $82 per month |
| 45-Year-Old with DUI | $110 per month |
| 55-Year-Old | $51 per month |
| 65-Year-Old | $54 per month |
Note: These are sample quotes and actual rates may vary.
These sample quotes illustrate that premiums vary significantly based on driver profile. Younger drivers and those with violations on their records typically face higher rates.
Travelers Home Insurance: Ratings and Coverage Details
Travelers extends its insurance offerings to homeowners, renters, and landlords, with options to bundle policies for potential discounts.
Homeowners Insurance:
A standard Travelers homeowners policy covers damages to your home and other structures on your property from covered perils like fire, hail, lightning, windstorms, and vandalism. It also includes personal property coverage, although there might be limits on high-value items. Water damage from plumbing issues is generally covered, but flood and earthquake damage usually require separate policies.
Renters Insurance:
Travelers renters insurance protects your personal belongings against events like fire, lightning, windstorms, hail, explosions, smoke, vandalism, and theft, whether the incident occurs within your rental unit or elsewhere.
Landlord Insurance:
For landlords, Travelers provides coverage for rental properties (up to four units), including structures like garages and sheds. It also covers personal property owned by the landlord within the rental unit, such as appliances. Additionally, it can cover medical expenses, property damage, and loss of rental income due to covered events.
Travelers home insurance options are generally considered robust, particularly advantageous for customers looking to bundle their home and auto insurance for cost savings.
Conclusion: Is Travelers Insurance a Good Choice?
Based on travelers insurance ratings and reviews, Travelers emerges as a reputable and reliable insurance provider. With a history spanning over 165 years, Travelers demonstrates stability and experience in the insurance market. Their strong financial ratings, coupled with generally positive customer feedback regarding responsiveness and communication, suggest a company that prioritizes customer service and financial security.
While some customer reviews mention claim denial issues, the NAIC complaint index indicates that Travelers receives fewer complaints than average. The array of discounts and coverage options, especially in auto and home insurance, allows customers to customize policies to their specific needs and potentially reduce costs.
For travelers and families seeking a dependable insurance partner, Travelers Insurance is worth considering. It is advisable to get personalized quotes and thoroughly review policy details to ensure it aligns with your individual circumstances and insurance requirements. Exploring travelers insurance ratings and reviews is a crucial step in making an informed decision and securing the right coverage for peace of mind.
