Possibly the first writer of an automotive policy, this company is stamped in the history books of the automotive world.
Travelers may well have written the first Automotive policy in 1897. It was founded 33 years earlier, but that was only the first of several transformations. In 160 years, Travelers has changed hands and names several times and has a litany of firsts under their belt. They wrote the first aircraft liability insurance in 1919, the first policy for lunar and space exploration in 1969, and the first discounts for drivers of hybrid vehicles in 2004. Today they are a powerhouse in the insurance industry and have some name recognition although there are higher than normal negative reviews for a company of its size. Travelers is still out there and still doing business but with an increasingly crowded business landscape it may be only a matter of time before they're once again absorbed into another company and go through yet another transformation.
Pros and Cons
- Lots of coverage options available for home and auto. The discount for bundling is substantial.
- They have a thorough online quoting system that can provide more extensive data than some of their competitors.
- Travelers has mobile claims offices that can handle claims quickly and effectively during a disaster.
- No replacement cost in basic coverage, it is an add-on.
- Low customer satisfaction compared to other companies of its size.
- Rideshare coverage only available in two states.
Travelers Insurance Coverage
Travelers has a lot of add-ons and options that are above and beyond their basic coverage. Some of these are not available in all markets such as the rideshare insurance which is becoming increasingly common is only available in two states where they operate. Individual options will vary state to state and potential customers may want to do additional research or contact a registered agent to get more in-depth information,
- Gap Insurance covers the difference between the actual cash value of the insured vehicle and the balance on its auto lease or loan.
- Ridesharing Insurance is available in Illinois and Colorado and covers policy holders between rides since most ridesharing companies tend to cover liability while picking up or dropping off passengers.
- IntelliDrive uses an app to collect driving data to better serve its customers. This service comes with up to a 20% discount. This option is not available in every state check individual rates for more specific information about IntelliDrive.
- Premier New Car Replacement is a benefit if insured vehicle is five years old or newer and pays to replace the vehicle. Includes Gap coverage if the vehicle is totaled.
- Travelers' Responsible Driver Program is Travelers' accident forgiveness program allows policy holders one accident of minor traffic violation every 36 months without raise in rates.
- Premium Responsible Driver Program is an extension of their forgiveness program but also discounts $50 for every six months accident free up to $500. If the vehicle is totaled the deductible is waived.
As stated above these programs and add-ons are not always available and it is important to check their site or with an agent for individuals on a case by case basis. Ridesharing is one example and IntelliDrive may violate some state's privacy laws.
|Single 25-year-old male||$1,417|
|Single 25-year-old female||$1,363|
|Married 35-year-old male||$1,295|
|Married 35-year-old female||$1,269|
|Married 60-year-old male||$1,146|
|Married 60-year-old female||$1,115|
Standard Insurance Coverage
- Bodily Injury Liability
- Property Damage
- Uninsured Motorist
- Medical Payments
- Comprehensive Coverage
- Collision Coverage
Car Insurance Rates
Travelers' on average costs $182.66/monthly across the US. Their lowest rate is in Maine at $89.17/month and their most expensive is in Michigan at $260.07/month. They are more expensive across the board than other insurers. Travelers does have several discounts which may impact those rates in and may bring those rates down. Additionally, bundling with home or life insurance will bring rates lower. For example, three vehicles are on average $306.90/month which brings premiums down per vehicle. Some add-ons such as IntelliDrive are services that come with a discounted rate. Travelers does have a tendency towards rewarding lower mileage over safe driving
|Annual Mileage||Average Rate|
|6,000 miles annually||$1,226|
|12,000 miles annually||$1,268|
Car Insurance Discounts
Travelers has several discounts which may bring policy holder's premiums down from their state or national average. Individual states may have laws that disallow some of these discounts but the list below are the common discounts available nationally.
- Multi-Policy Discount since Travelers works with several different personal insurance product lines Travelers gives a discount when you get home insurance.
- Multicar Discount is available if policy holders insure more than one vehicle in their policy.
- Home Ownership Discount applies if policy holders own their home or condo.
- Safe Driver Discount
- Continuous Service Discount applies when policy holders have no gaps in their coverage.
- Hybrid/Electric Discount applies for ownership of a hybrid/electric vehicle.
- New Car Discount applies if a policyholder’s vehicle is less than three years old.
- Payment Discounts when policy holders pay electronically, upfront, or consistently on time
- Early Quote Discount if the policy holder applies for a new quote before the previous policy expires.
- Good Student Discount for drivers in high school or college that maintain a “B” average or better
- Student Away at School Discount if the student is 100 miles or further away and don't bring their vehicle to school this discount may apply.
- Driver Training Discount applies to younger drivers who complete a Travelers approved driver training course.
Travelers Insurance Vs. Competitors
Travelers is a very large and well-known company with several product lines. They have been in business for more than 160 years, and have gone through many changes, and in that time, they've developed and transformed several times. Currently they have had a series of poor reviews and low customer satisfaction scores. Their rates tend towards the more expensive and they don't offer add-ons and options across their company for seemingly arbitrary reasons but they are still one of the best insurance companies in the US and have set their sights on expansion and innovation. Below we have listed three back to back comparisons with their competitors.
Travelers Insurance Vs Farmers: Travelers and Farmers occupy a similar space in the market. Travelers does on average tend to be more expensive. That is really the only place where they diverge. Both are large well-known companies and their customer service data seems similarly in the range of average. Farmers does have more customer complaints but Travelers has similar criticisms. What this comparison comes down to is preference since their services, discounts, and payment options are all comparable.
Travelers Insurance Vs American Family: In a comparison between these two companies again their pricing is in the same ballpark. The national average for Travelers is $182.66/month and American Family is at $162.37/month. While this is the national average American Family Insurance is occasionally more expensive. American Family has a few more product lines than Travelers but isn't as widely available as Travelers and that is where they have the greatest divergence. They both have great discounts, and options though Travelers has a few more than American Family. It is worth the comparison if American Family is available.
Travelers Vs Progressive: Progressive has become one of the most recognized brands in car insurance, and frankly, they just blow Travelers out of the water. There are a few areas where Travelers has a leg up, but they just don't have as many options for discounts, payments, services, and options as Progressive. Coupled with the fact that Progressive is just cheaper by a mile. Travelers has history and great financial backing, but Progressive is knocking it out of the park by comparison.