Travelers had already been around for 33 years when it issued its first automotive policy way back in 1897. The date is significant not just as a bullet on the company timeline, but because, according to Travelers, that policy was the first automotive policy ever written.
During its more than 160-year history, Travelers has had plenty of time to rack up other firsts, including the first accident insurance policy of any kind in 1864, the first aircraft liability insurance in 1919, the first RV converted for use as a mobile claim office in 1968, policies for lunar and space exploration in 1969, and the first discounts for drivers of hybrid vehicles in 2006.
With 30,000 employees and 13,500 independent agents operating in the United States, Canada, the United Kingdom, Ireland, and Brazil, the Hartford, Connecticut, based Travelers is one of the largest providers of personal, business, and specialty insurance and is the only property insurance company listed on the Dow Jones Industrial Average.
Travelers Is the 2nd Best Car Insurance Company
How We Created This Travelers Car Insurance Review
To determine where Travelers Car Insurance ranked among the top 10 car insurance companies in our survey, we asked 2,799 people who had filed a car insurance claim in the last five years to tell us about their experience. The questions included all aspects of the process, from customer service to frequency of updates to their satisfaction with the final outcome. Participants were asked to rate their company on each question, using a scale of one to five with one being least satisfied and five being the most satisfied.
U.S. News also worked with Quadrant Information Services to provide a report of average insurance rates in all 50 states from the 10 largest national car insurance companies. The rates are based on profiles for both male and female drivers aged 17, 25, 35, and 60. Vehicles used include the 2018 Honda Civic, 2018 Toyota RAV4, 2018 Ford-F-150, 2015 Honda Civic, 2015 Toyota RAV4, and 2015 Ford-F-150, with annual mileage of 6,000 and 12,000. Three car insurance coverage levels were used, as were credit tiers of good, fair, and poor. Clean driving records and records with one accident, one speeding violation, and one DUI were also used in the calculations. The rates shown here are for comparative purposes only. Individual rates will differ.
Travelers Rating and Review
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Travelers scored very well in our survey, with a second-place overall ranking, bested only by USAA. Customer service, satisfaction with status updates during the claim process, and satisfaction with claim resolution were particularly strong points for Travelers. When it came to ease of filing a claim, Travelers scored very well but slightly worse than State Farm, Geico, and Farmers in addition to USAA.
Most Travelers customers gave their insurer high scores for ease of filing a claim, with 75 percent of respondents saying they were either satisfied or very satisfied. The scores were even higher for satisfaction with customer service, with slightly more than 78 percent saying they were either satisfied or very satisfied. That compares with just 7 percent and 5.5 percent who gave Travelers the lowest score in each of those categories.
Travelers also received high marks for satisfaction with status updates, although scores were not as high as with ease of filing a claim and customer service. Slightly more than 68 percent of respondents said they were satisfied or very satisfied. Once the whole process was done, more than 78 percent were either satisfied or very satisfied with how their claim was resolved.
When it came to our question about value, however, Travelers did not fare as well. Just 66 percent of respondents were either satisfied or very satisfied, and 12 percent gave Travelers the lowest score – a higher percentage of negative responses than Travelers received on any other question. Most of those negative comments were related to cost.
“Filing one claim caused my insurance to increase dramatically,” wrote one unhappy customer, who went on to say their rates stayed at that higher level for four years. Another said they switched to another insurer after their rates doubled.
Still, 64 percent said they were either likely or very likely to recommend Travelers to someone shopping for insurance, and more than 73 percent said they were likely or very likely to renew. That compares to 12 percent and 16 percent who responded in the negative to the same two questions.
Travelers Car Insurance Costs
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With an average annual cost of $4,432 for all drivers, Travelers was the third most expensive provider of car insurance in our survey. That might help explain some of the complaints about value. Travelers trailed only Liberty Mutual at $6,073 annually and Allstate at $4,888.
Travelers rates were particularly painful for young drivers, at $12,851 annually on average for a 17-year-old male and $9,308 for a 17-year-old female. Both were second only to the $13,718 and $11,621 charged by Liberty Mutual. But by the time drivers in our survey had reached the age of 25, Travelers' rates were far more competitive. A single 25-year-old male paid just $2,491 on average, while rates for a single 25-year-old female were $2,325. Both were the third lowest of the 10 companies in our survey. Rates were similarly competitive for 35 and 60-year-old married drivers of either gender, although car insurance rates varied less between all companies for the older demographics in our survey. While the difference in rates for a 17-year-old of either gender varied by around $7,000 between most-expensive Liberty Mutual and least-expensive USAA, the gap between lowest and highest narrowed to about $1,500 per year for a 60-year-old of either gender.
|Single 17-year old female||$9,307.32|
|Single 17-year old male||$12,850.91|
|Single 25-year old female||$2,325.25|
|Single 25-year old male||$2,491.21|
|Married 35-year old female||$2,178.66|
|Married 35-year old male||$2,199.51|
|Married 60-year old female||$2,051.98|
|Married 60-year old male||$2,074.41|
How much drivers traveled annually made little difference in rates with Travelers. Drivers who traveled 6,000 miles per year paid $4,400 on average, while those who drove 12,000 miles a year paid about $70 more, or $4,470.
Opting for high coverage limits rather than low added about $400 more per year with Travelers, fairly typical compared to other companies in the survey. Minimal coverage cost $4,224 on average with Travelers, while high coverage was $4,619. The extra expense for more coverage would seem like a wise investment: Given the high cost of medical care and car repairs, $400 won’t buy much of either.
|Coverage Type||Average Rate|
Drivers with poor credit paid around $1,100 more for car insurance with Travelers annually than those with good credit, or $5,160 compared to $4,059. While not insignificant, that’s less of a difference than with many of their competitors in our survey. With Allstate, the difference was $2,631. With Liberty Mutual, it amounted to more than $4,400.
|Credit History||Average Rate|
The survey found that Travelers charged higher penalties than many competitors for drivers with violations on their record. Those with a clean record paid $3,448 annually on average, about halfway between the highest and lowest rates in our survey. One violation or accident boosted those rates by about $800, to $4,261 and $4,290, respectively. Most other car insurance companies were in the $200 to $600 range. But one DUI brought the annual average with Travelers to $5,741, more than all others except Allstate and Liberty Mutual, at $6,261 and $7,613, respectively.
|Driving Record||Average Rate|
|With 1 speeding violation||$4,260.80|
|With 1 accident||$4,289.74|
|With 1 DUI||$5,741.40|
Who Should Get Travelers Car Insurance?
Older drivers and those with a clean record would do well to consider Travelers, as would those who put a high value on service and are willing to pay for it. While Travelers was not the most affordable car insurance choice pretty much across the board, the extra cost compared to competitors was greatest for younger drivers and those with a less than a stellar record. Travelers rates were among the highest of all companies in our survey for 17-year-old drivers and drivers with a DUI offense. For all others, Travelers rates were closer to the average.
Travelers Auto Insurance vs. Progressive Auto Insurance
No. 2-ranked Travelers outscored seventh-ranked Progressive across all questions in our survey except ease of filing a claim and how likely survey participants were to recommend their insurance company to others. Here, the two companies were virtually tied. Travelers held the biggest advantage in scores for customer service and satisfaction with how a claim was resolved.
In terms of cost, neither company was the most expensive nor the most affordable in our survey, but Progressive had better rates for young drivers. The two companies had very similar rates for all other age groups. An interesting side note is that while survey participants gave Travelers and Progressive similar scores when asked whether they would recommend their car insurer to someone else, Travelers customers said they were more likely to renew.
Travelers Auto Insurance vs. State Farm Auto Insurance
Overall survey scores were very close between second-ranked Travelers Insurance and third-ranked State Farm. State Farm had a slight edge for ease of filing a claim and how likely customers were to renew their policy, along with a razor-thin margin for value. In response to all other survey questions, Travelers maintained the advantage, although by a very slim margin.
The survey found that Travelers cost drivers about $1,200 more annually than State Farm on average, with annual rates of $4,435 compared to $3,260 for State Farm. The difference was most dramatic for young drivers, with Travelers more than $3,000 higher for a 17-year-old female and more than $5,000 higher for a 17-year-old male.
Travelers Auto Insurance vs. Allstate Auto Insurance
Despite consistently higher scores than Allstate across virtually all questions in our survey, second-ranked Travelers and eighth-place Allstate were tied when respondents were asked about satisfaction with ease of filing a claim. Beyond that, Travelers handily outscored Allstate in other areas, with the biggest advantages in customer service, satisfaction with how their claim was resolved, value, and how likely they were to renew.
Travelers was about $400 less than Allstate on average for all drivers, with annual rates of $4,432 compared to $4,888 for Allstate. Both were among the most expensive for young drivers.
Types of Coverage From Travelers Car Insurance
Travelers offers all the basic types of car insurance, including liability to cover you in the event of property damage or injury to others in a crash where you are at fault; collision coverage to pay for repairs to your car; comprehensive coverage to protect your vehicle against damage caused by anything other than a crash, including theft, vandalism, storm damage, or a collision with an animal; and personal injury protection to pay for medical expenses, lost wages, child care, and other expenses following a crash. Uninsured or underinsured motorist coverage helps pay for damages and medical expenses following a collision caused by someone with no insurance or inadequate coverage, and medical payments coverage helps pay for injuries to anyone in your vehicle.
Other available coverages include gap insurance to help pay the difference between your car’s value and what you owe on it in the event of a total loss, rental car coverage to pay for transportation if a crash takes your car out of commission for 24 hours or more, and 24/7 roadside assistance to provide emergency services such as a jump start, flat tire change, fuel delivery lockout assistance, or limited towing if all else fails. In addition, upgraded Premier roadside assistance adds increased towing of up to 100 miles, trip interruption reimbursement of up to $200 per day for lodging and food if a breakdown occurs more than 100 miles from home, and $500 in personal property insurance for items stolen or damaged following a crash.
Travelers also offers new car replacement coverage to provide you with a new car of the same make and model if yours is totaled within the first five years of ownership, and forgiveness for minor violations and accidents to reduce the likelihood of a rate increase following a claim.
Travelers Car Insurance Complaints
Most of the complaints we heard about Travelers insurance had to do with cost, and this was reflected in their overall score for value. Big rate hikes following a claim were a common theme.
“I switched to another company after rate premiums were doubled,” said one respondent. “Too expensive. I switched to Geico,” said another.
Travelers Car Insurance Discounts
Travelers offers discounts of up to 15 percent for customers who bundle their auto insurance with a homeowners or renters policy, and discounts are also available for combining car insurance with a policy for a boat or other valuables. Multi-car families and individuals may get a discount for including two or more cars on the same policy.
Students who maintain at least a B average or are away at school may also be eligible for a discount, as well as young drivers who complete an approved training course. Drivers who maintain a safe record for three years may be entitled to lower rates, and long-term customers may also get a break. Driving a newer vehicle may translate into reduced rates, particularly if it is a hybrid or electric model. Paying by automatic electronic transfer or payroll deduction may also save you money, as may paying in full or consistently paying on time.
Discounts are also available through partnerships with certain businesses and credit unions, and the IntelliDrive program may entitle you to reduced rates if you consent to using a phone app to track your behavior behind the wheel for 90 days. On the other hand, poor driving habits may make them go up.
Other Types of Policies From Travelers
Along with car insurance, Travelers offers policies for boats and yachts. Beyond accident, fire, and theft coverage, boat coverage can also include specialized items such as commercial towing and fuel-spill coverage.
Travelers Financial Fitness
With 4,396,705 private auto insurance premiums written and a 1.9 percent market share, Travelers ranks as the ninth largest car insurance provider in the U.S., according to the Insurance Information Institute. Travelers had total assets of approximately $103 billion and revenue of $23 billion as of the end of 2017.
More information about Travelers Insurance can be found at www.travelers.com. They can also be reached by telephone at 866-943-6938.