Travelers Insurance Reviews 2022

Is It The Right Choice For You? | ⭐️⭐️⭐️⭐️

TLTR: This article by Agency Height is an exclusive review of Travelers, one of the biggest P&C insurance companies in the USA. If you are intending to buy insurance from Travelers, our exclusive Travelers insurance reviews article will help you decide by comparing the coverage options, prices, and the pros and cons. 

Is Travelers Insurance a Reliable Carrier?

If you google “best P&C insurance companies in the USA,” you’ll always find Travelers Insurance on the list. Travelers is one of the oldest insurance companies in the U.S. It has established itself as a dependable name in the P&C market.  Most Travelers Insurance reviews online attest to this.  

In short, Travelers is a big player in the competitive insurance arena. They have the stats and the accolades to prove that they’re a big-name player. But are they the best choice for an insurance buyer? We’re going to break down Travelers Insurance and what they offer.  

In this blog

About Travelers: Overview and History 

The Travelers Companies, Inc., commonly known as Travelers, was founded in 1857 by James G. Batterson, a Hartford businessperson. They have been serving Americans for more than 165 years.  They have become one of the most prominent names in the P&C insurance industry. Although they’ve received mixed reviews, Travelers enjoys an impressive 3.97% market share of the competitive P&C industry.  

Travelers is the sixth-largest policy writer of personal insurance and the second-largest writer of commercial P&C insurance in the U.S. They were inducted into the prestigious Fortune 500 company list in 1995, which is a testament to their financial prowess and stability.  

As a company, Travelers takes pride in its rich and long history of resilience, innovation, and sustainability.   

Today, they employ more than 30,000 people and boast a network of more than 13,500 independent insurance agents across 43 states. Apart from the U.S., Travelers has operations in China, Brazil, Singapore, Canada, and the UK as well. 

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Travelers Insurance Reviews: Pros and Cons 

Pros

Cons

  • Trustworthy company with a good background. 
  • Good Financial Strength (Fortune 500 company). 
  • Good Claims Settlement Record (A++ AM Best Rating) 
  • Large variety of insurance products. Also offers policy bundling.  
  • Offers various discounts. 
  • UBI Programs like IntelliDrive. 
  • Not available in all the states. 
  • The claims process can be tedious at times.  
  • Below average inJ.D. Power Claims Satisfaction Rating in 2021. 
  • Average customer service.  
  • While auto insurance discounts are good, some discounts seem less meaningful. 
  • IntelliDrive is only available in 9 states currently. 
travelers insurance reviews

Image: Travelers Insurance Statistics

Travelers Insurance Products 

Travelers offers a huge array of P&C insurance products and coverage options. They provide insurance solutions to both individuals and businesses. Here’s a list of insurance products offered by Travelers for individuals and businesses: 

Property Insurance

Commercial Insurance

  • Auto Insurance
  • Homeowners Insurance
  • Condo Insurance 
  • Renters Insurance 
  • Landlord Insurance 
  • Boat & Yacht Insurance
  • Travel Insurance
  • Pet Insurance
  • Umbrella Insurance 
  • Wedding & Events Insurance 
  • valuable items Insurance 
  • Affinity Car & Home Program

 

  • Commercial Auto  & Trucking Insurance  
  • Cyber Insurance
  • General Liability Insurance 
  • Environmental Liability Insurance 
  • Workers Compensation  
  • Excess Casualty & Umbrella Insurance 
  • Inland Marine & Ocean Marine Insurance 
  • Management & Professional Liability Insurance 
  • Small Business Owners Policy
  • Property Insurance
  • Surety Bonds  Insurance 

        Intellidrive

        IntelliDrive is a Usage-based Insurance (UBI) platform that measures driving habits like speeding, braking, acceleration, and driving time. According to Travelers, good drivers can expect to save up to 30% through the IntelliDrive Program. However, they currently offer this service in nine states only.

        Pricing Overview

        Compared to USAA or State Farm, Travelers Insurance doesn’t offer the most affordable rates on the market. Their home insurance and auto insurance are priced at either higher or cheaper rates than others on the market. For instance, you can see the average car insurance rates for different age groups in this table. In general, Travelers Insurance offers better auto insurance rates than home insurance rates. 

         Age Group

        Average Annual Estimate  

                             22-year-old Male     $1095  
                            31-year-old Female    $885 
                    31-year-old Female-with-accidents        $1286  
                          Mid-60s Married Couple      $646 

        Source: ValuePenguin

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        Travelers Insurance: Ratings & Reviews 

        A Sampling of Customer Reviews

        Reviews

        Rating

        I have been insured with Travelers for 5 years. Both my wife and I have had accidents and they have taken good care of us. They did an excellent job of handling our claims. That is why buying insurance is so important. I know they are an A+ company.   ⭐️⭐️⭐️⭐️⭐️ 
        I canceled my Travelers insurance and switched to Farmers insurance for better rates. I was supposed to get my policy refund within 5 to 10 business days. They took 62 days and got lied to 5 times. Terrible customer service.

         ⭐️⭐️ 

         

        Just switched to Travelers from USAA. USAA were great as well but they were a little pricey. We needed to save money so we chose Travelers through an insurance broker and found great rates.   ⭐️⭐️⭐️ ⭐️
        Worst customer service and service in general. 

         ⭐️ 

         

         

        Sources: Google, Travelers, Yelp, Consumer Affairs.

        Source: Travelers

        A Sampling of Official Reviews

         Rating

        Source/Organization

        NAIC Complaint Index 0.64 
        A.M. Best (Financial Strength Rating) A++ (Highest Possible Rating)
        J.D. Power Claims Satisfaction Study   Subpar Rating in 2021 
        Better Business Bureau A
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        Travelers is a Fortune 500 company, and it has received the highest possible AM Best rating. Hence, it attests that Travelers Insurance has a solid financial strength making it a dependable company to do business with.

        However, the J.D. power claims satisfaction rating shows that Travelers needs to improve on certain areas of customer service. For instance, it has a good claims settlement record, but it can be a little time-consuming as per customer reviews.

        To sum it up, the official records show that Travelers is a good insurance company, particularly looking at its financial strength rating and claims settlement records.

        Travelers Insurance Discounts 

         

        Categories

        Discounts

        Auto Insurance Discounts
        • Multi-Policy Discount  
        • Multi-car Discount 
        • Homeowner Discount 
        • Safety Driver Discount 
        • Continuous Insurance Discount 
        • EV and Hybrid Vehicle 
        • New Car Discount 
        • Pay in Full and Electronic Payment 
        • Early Quote Discount 
        • Good Student Discount 
        • Student Away at School 
        • Driver Training Discount 
        Home Insurance Discounts
        • Multi-Policy Discount  
        • Protective Device Discount
        • Green Home Discount
        • Loss-Free Discount
        • Home Buyer Discount
        Affinity Program Discount for employees of participating credit unions on home and auto insurance 

        Hence, the auto insurance discounts and home insurance discounts offered by Travelers stand out as they can actually help you save a significant amount on your premiums. 

        Also, insurance prices vary for every person, so it is important to compare quotes to get the best deals. In general, Travelers Insurance offers better auto insurance rates than the home insurance category.  

        Travelers Insurance Reviews: Our Verdict 

        Our Rating: ⭐⭐⭐⭐ 

        With strong finances and a near flawless claims record, Travelers is one of the most reliable names in the insurance industry. Its finances are solid, and its claims record doesn’t have many flaws. The coverage options are excellent, and the discounts are beneficial. Their customer service comes under scrutiny at times but in general, you can expect to get quality insurance experience from Travelers. 

        While you won’t get the cheapest rates for their policies, you can apply for one of their attractive discounts. Despite the higher rates, you get a trustworthy insurance provider in Travelers insurance. 

         At Agency Height, we understand that buying a reliable policy at the right price can be an arduous process at times. Contact us today to get a free consultation from our insurance experts. 

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        Frequently Asked Questions

        Is Travelers a reliable insurance company?

        Travelers is a reliable insurance company with a long legacy and a huge market reach in the P&C industry. Its finances are pretty stable, making it a trustworthy company. 

        Is Travelers an expensive insurance carrier?

        Travelers insurance rates are average or at an expensive level in comparison to the market rates. It is definitely not the cheapest carrier out there. Both auto insurance and home insurance are comparatively expensive. However, car insurance discounts are good, which is a positive thing. 

        Does Travelers have a good claims payment record?

        Travelers has an A++ AM Best rating. This is the highest possible rating from one of the USA’s oldest and most credible organizations. Hence, you can be assured about receiving your claims payment from Travelers. 

        Agency Height is an online insurance platform that bridges the gap between insurance agents and insurance buyers. Our platform is dedicated to helping both the buyers and the sellers through our exclusive insurance related publications and guides. Similarly, we provide exclusive guidance for independent insurance agents to increase their digital presence. 

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