Our verdict: With Travelers, you’ll enjoy a user-friendly website, a great online quoting tool, and in severe cases, you’ll have access to catastrophe response teams. Still, Travelers could offer more discounts.
Travelers is great for customers looking for customizable home insurance policies. Travelers home insurance is available across the US, and this company has been around for about 160 years. This company is among the best insurers in the industry, with 30,000 employees and 13,500 independent agents and brokers in the US, Canada, UK, and Ireland.
Travelers is among the top 10 writers of personal insurance, the number one writer of surety and workers compensation insurance, and the second-largest commercial insurance carrier in the US. Keep reading to learn more about its home insurance offer and see how Travelers insurance compares to competitors.
Travelers Pros and Cons
Learning about the pros and cons of an insurance company will help you decide which one will be the best choice for you. These are Travelers pros and cons.
Pros
- User-friendly website
- Available in most states
- Has fewer customer complaints than expected
- Among the largest insurers in the US
- Thorough online quoting tool
- Has catastrophe response teams
Cons
- Doesn’t insure mobile and manufactured homes
- J. D. Power rank indicates less than average customer support
Travelers Homeowners Insurance Overview
If you’re considering purchasing home insurance from Travelers, you’ll likely be prompted to discuss it with an agent. The company representative will help you determine the right coverage, but know that a typical policy usually includes the structure of your home, personal belongings, loss of use, personal liability, and similar.
You’ll be protected from severe weather, house fires, vandalism, theft, and related perils. With Travelers, you’ll have a great selection of discounts and a user-friendly website to explore the desired coverage.
Features of Travelers home insurance
There are several property insurance policies available with Travelers. Let’s see the features of each insurance.
Homeowners
This type of insurance policy serves to protect your most valuable possession, your home. The standard policy includes the coverage that many other insurers offer, like dwelling, other structures, personal property, liability, and loss of use.
The dwelling coverage helps you rebuild your home, while the coverage for other structures insures your sheds, garages, or fences. Personal property coverage is there to help you recover personal items that became damaged, and personal liability serves to cover legal suits and similar events.
Travelers house insurance covers:
- Fire
- Hail
- Winds
- Lighting
- Vandalism and theft
- Freezing of plumbing, etc
You can customize this policy with additional coverage. For example, the special personal property coverage can expand the protection of your items in the event of an uncovered loss. Another add-on is the jewelry and valuable items protection. Other add-ons include:
- Contents replacement cost – pays the replacement cost of the item
- Additional replacement cost coverage – adds more coverage to help rebuild your home
- Personal articles floater – includes a higher amount of coverage for valuable items
- Water backup and sump pump discharge – Travelers insurance that covers water damage loss up to a specified amount
- Identity fraud – up to $25,000 coverage for restoring identity
- Green home coverage – covers the cost to repair or replace with green materials
Condo
If you’re a condo owner, you probably know that your association has a master policy that covers the common areas of the condominium, but this type of insurance won’t cover your personal items and things inside the walls of your condo.
Condo insurance from Travelers is comprehensive, and it can help you secure almost anything inside your unit. For starters, Travelers condo insurance covers your personal property, meaning that your furniture, clothes, and other personal possessions will be protected in case of fire or hail.
When it comes to personal liability protection, your condo insurance can help protect you in the event of lawsuits when you accidentally injure other people or damage their property.
The medical payment coverage helps you pay up to $1,000 per person in necessary medical expenses. Condo additional living expenses coverage includes coverage for those moments when your unit is uninhabitable, and you need to rent out a place to stay while it’s getting repaired.
This type of Travelers property insurance can also cover the dwelling, additions, and alterations, and other structures. The available add-ons for condo policy include:
- Broadened coverage for contents
- Contents replacement cost
- Valuable items plus
Landlord
If you own a property that you rent, purchasing landlord insurance is a smart move. This policy will help you insure another valuable asset besides the home you live in, even if something happens to the property and you have to quit renting temporarily.
The landlord insurance is similar to Travelers homeowners insurance policy, and it’s designed to protect rental properties that contain one to four units, other structures, and your personal property that you left inside your rental unit.
Purchasing this policy will also protect you from bodily injury or property damage that may arise from the use of your rental. Travelers offers premises liability limits of $100,000 and more. You’ll also enjoy a $1,000 included limit for medical payments for injuries that occur as a result of the condition of the property.
This Travelers homeowners insurance coverage can also help protect your income by paying for the fair rental value of the property if you can’t rent it while it’s being repaired.
Flood Insurance
Floods remain a common problem across the US, and many homeowners are facing difficulties when they find out that their standard home insurance doesn’t cover rising waters. Since floods can happen anywhere it rains, purchasing flood insurance is a smart thing to do.
The flood insurance policy provides specialized coverage, and you can reach out to Travelers agent to discuss flood insurance at any moment. These policies, however, might take some time to become effective, so consider purchasing one in advance to stay covered.
Travelers Mobile App
Besides an intuitive website, Travelers offers a mobile app that’s available for iPhone and Android users. The app, however, gears towards auto insurance policyholders. With it, you can view and download Auto insurance cards, manage payments, see insurance documents, coverage, or enroll in an automatic payment plan.
With the Travelers insurance app, you can also file a claim and get roadside assistance. Based on the latest user reviews, the app is not the best on the market.
The app seems to load slowly, and users had issues with updating their info. Many found Google pay integration very useful, but other users claimed it makes the app look more like a mobile wallet than an insurance app. What’s good is that Travelers sees these reviews and does its best to update the application regularly.
Financial Strength
Regarding Travelers insurance ranking and its financial strength, each company The Travelers name has high ratings from A. M. Best. In addition, Travelers Reinsurance Pool, Travelers Casualty and Surety Co. of America, Travelers Insurance Company of Canada, Travelers Insurance Ltd, and Travelers Insurance Designated Activity Company all have an A++.
Based on the report, Travelers has total assets of $110 billion and total revenue of $26 billion. Fortune ranks it as the World’s Most Admired Company, and it has many other awards and recognitions. This means Travelers has considerable financial strength, and you should face issues while filing your claims.
Travelers Insurance Customer Service
Travelers’ user-friendly website with a Contact Us section where you’ll find the phone numbers and working hours. You can also email the support, and you’ll find a physical address listed as well.
In its 2020 Home Insurance Study for overall customer support satisfaction, J. D. Power ranks Travelers below a national average, with 803/1,000. The most recent reviews are mixed. While some had an excellent experience with Travelers, others had a hard time reaching customer support during evening hours, had their premiums raised, and were treated poorly.
- NerdWallet – 4.5
- Valuepenguin – 70%
- WalletHub – 2.6
- Clearsurance – 4.1
Travelers Home Insurance Quote
When calculating your coverage quote, location is the primary factor that affects your premium, but the age of your home, the amount of coverage, and the discounts you qualify for are also important.
The insurance quote is usually calculated for the dwelling worth $250,000. With Travelers, the annual premium for this kind of property is approximately $1,277, which is about $106 per month.
Unfortunately, Travelers has a short list of discounts compared to other insurers on the market. This might be a drawback if you’re living in a state that requires additional coverage since the add-ons increase the price.
Travelers Home Insurance Discounts
Let’s look at the available deals that can help you lower your premiums.
Multi-policy
This is a standard way to save while combining two policies at one insurer. For example, with Travelers, you can bundle auto and three other policies to save up to 12%. These policies can be umbrella, boat, or a personal articles floater.
Home Buyer
This deal is available for customers who purchased their home 12 months prior to the policy effective date and is a great way to lower your Travelers home insurance quote.
Loss Free
Loss free deal is offered to policyholders who haven’t experienced any loss within a specified time period.
Protective Device
If you installed a smoke detector, interior sprinkler system, home security system, or you have smart technology that alerts you of burglaries, you might be eligible for this discount.
Green Home
If a Leadership Energy and Environmental Design organization certifies your home as green, you’ll be eligible for this discount. With this deal, you might save up to 5%.
Travelers Homeowners Insurance Rates Comparison
Travelers vs. ERIE
According to some estimates, the annual premium for the policy from Travelers is about $1,277, which is about $106. Depending on your location and other things, it may go down to $72. The annual cost is slightly below the national average of $1,600.
When it comes to ERIE, your deductible is the essential thing to consider when calculating the price of your policy. Based on some estimates, ERIE will charge about $900 per year for a home worth $250,000. This comes down to the similar monthly premium like Travelers insurance cost.
Travelers vs. Liberty Mutual
Liberty Mutual offers great policies and good customization options to expand your coverage. These add-ons, however, might increase the cost of your policy. If you decide to go with Liberty Mutual, your monthly premiums will range from $87 to $359, depending on your state and deductibles.
Luckily, Liberty Mutual has way more discounts than Travelers.
Overall Competition Comparison
Comparing insurers is the key to finding the best fit. Let’s see how Travelers compares to GEICO, State Farm, and Allstate when it comes to policy availability, customer satisfaction, and financial stability.
Travelers vs. GEICO
The main difference between GEICO and Travelers is that Travelers is a direct provider of its home insurance policies, while GEICO acts as a broker. This allows GEICO to offer policies across the US, but Travelers offers its services outside of the US as well.
GEICO is rated with an A++ rating by A. M. Best, and Standard & Poor’s also gave GEICO an A++ rating. Moody and Fitch’s ratings are Aa and AA-, respectively. GEICO was also rated as #1 for its customer support by Kanbay Research Institute.
Travelers vs. State Farm
State Farm is a famous insurer in the US and is a very financially sound company with an A++ rating from A. M. Best and an AA from S&P Global Rating. Regarding policy availability, Travelers wins in this comparison since State Farm doesn’t cover Massachusetts, New York, and Wisconsin.
When it comes to customer support ratings, in J. D. Power’s 2020 US Home Insurance Study, State Farm is ranked with 829/1,000. Still, customer reviews are mixed, but State Farm usually meets expectations and has decent customer support reps.
Allstate vs. Travelers Home Insurance
Allstate is another insurer on the list of famous companies in the industry. Its policies are available in all 50 states. Allstate has an affirmed A. M. Best A+ rating, meaning it’s a financially solid company.
In J. D. Power’s 2020 Home Insurance Study, Allstate was ranked with 829/1,000, which is above the industry average for customer support satisfaction. Allstate insurance is also ranked as the best in trustworthiness. You won’t go wrong with either of these companies.
Expert Thoughts
Travelers home insurance is available in all US states and outside the country as well. Travelers has been around for more than 160 years, has considerable financial strength and multiple awards and recognitions.
Its website is user-friendly, but the mobile app is not as good as advertised. Another downside is that it’s ranks below average for customer satisfaction. Travelers could also offer more discounts and try to catch up with the competition by providing more ways to save.
Overall, our impression is positive. Travelers provides good home insurance policies, decent coverage, and is financially reliable.
People Also Ask
Travelers is a known insurer and is among the best on the market. It has 30,000 employees and 13,500 agents all over the US, Canada, UK, and Ireland. Its policies are available in all states, affordable, and with excellent coverage.
Keep in mind that in its 2020 Home Insurance Study for overall customer support satisfaction, J. D. Power ranks Travelers below a national average with 803/1,000, meaning Travelers doesn’t provide the best customer support out there.
GEICO is known for operating as a broker insurance company which will help you match with another insurer that will be a direct writer of your policies. Compared to GEICO, Travelers is not a broker, meaning it will directly provide you with insurance.
Travelers Insurance is not owned by GEICO. Still, GEICO and Travelers sometimes work together to provide insurance to customers. GEICO will connect users to Travelers and allow them to purchase Traveler’s policies via the GEICO website.
Both State Farm and Travelers are established insurers in the US. Travelers has expanded services in Canada and the UK, while State Farm serves only the US, and it doesn’t cover all of the states. Rating-wise, State Farm is ranked with an A++ rating from A. M. Best, and most Travelers Insurance companies have the same rating.
When it comes to customer satisfaction ratings, in J. D. Power’s 2020 US Home Insurance Study, State Farm is ranked with 829/1,000, and Travelers is ranked with 803/1,000, meaning it has slightly worse customer support.
Even though it doesn’t have that many discounts, Travelers insurance policies are still extremely affordable and often cost less compared to the national average. The offered discounts are enough to help Travelers customers save, and Travelers is especially cheaper for auto insurance.
Regardless, your final premium will depend on your location, the amount of coverage, and the age and type of your house. As always, any add-ons will likely increase the cost of your insurance. Make sure you discuss any deals with your agent.
If the exterior of your home has suffered damage, and you reach out to Travelers to file your claim, the company will likely send an inspection to your home. Based on what the inspection notes, you might be notified of several different outcomes.
Depending on the outcomes, you might be eligible for a full replacement of your roof if Travelers found that the replacement of the components is necessary. In addition, Travelers might work with third-party contractors, like Impact Roofing. These companies can perform pre-qualifying home insurance claims inspections for free and make sure your Travelers home insurance is utilized well.
