Travelers Insurance

Travelers is one of the country's largest property casualty companies. The company has been in the industry for over 150 years and offers a variety of insurance options.

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9.7
Grand Score
8
User Score
9.7
Grand Score
8
User Score
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Travelers was founded more than 160 years ago and has grown to become one of the nation’s leading insurance companies.The company offers a variety of insurance options, customizable to fit your unique needs. These options include renters insurance. Renters Insurance is not only provided to protect and safeguard your most valued possessions, it may also help to provide temporary lodging,aid in legal liability (including court costs) and cover mounting medical bills for others. 

Travelers .is one of the most stable and well-known companies in the industry. The company has gained stellar marks for their ability to meet and exceed its customers’ expectations

Grandfolk Scoring
Cost 10/10
Ease 10/10
Coverage 10/10
Waiting period 5/10
Customer support 9/10
Mobile app 10/10
Online quotes 10/10
Discounts 10/10
Payments 10/10
Local agents 10/10
Paperless 10/10
Online policy 10/10
Cost
Monthly fee
Coverage and fees vary; get a quote for more details
Ease
Ways you can enroll
Online or by phone
Coverage
What services are covered
Personal property coverage, liability coverage, and more
Waiting period
Is there a waiting period?
Unclear from website; check with an agent to be sure
Customer support
When can I contact customer service?
8 AM-11 PM EST Mon-Fri, 8:30 AM-6:30 PM Sat, 8:30 AM-6 PM Sun
Mobile app
Is a mobile app available?
Yes
Online quotes
Are quotes available online?
Yes, a quote for renters insurance can be received in just a few minutes
Discounts
Are discounts available to lower premiums?
Yes, for bundling and installing a home security system
Payments
What types of payments are accepted?
Credit cards, debit cards, and mailed checks
Local agents
Are local agents available?
Travelers has many local and independent agents
Paperless
Is there a paperless billing option?
Yes
Online policy
Can a policy be purchased online?
Yes, a policy can be obtained online in a matter of minutes
Age Score:
10
50-65 Years
10
65-75 Years
10
75-85 Years
10
85-Above

If you have an insurance claim related to your home or personal belongings, ideally, you would want to replace your valuables as fully as possible. However, in many cases, your renters insurance policy will only cover the actual cash value (ACV) of the lost or destroyed items. Actual Cash Value can better be defined as the actual value of an item, as it would be today, with depreciation. Unfortunately, ACV is not the actual amount paid for the item. Even though your item may be in immaculate condition, it is now considered “used.” Actual cash value can be thought of as what you may be able to sell the items for at a yard sale.

If you are like most seniors, you have valuable jewelry or family heirlooms that have been collected over the years. Though some of the items may have more sentimental value than actual value, your items have likely been maintained well over the years.However, due to the age of the item, along with depreciation, many of those items may be deemed nearly worthless. Fortunately, Travelers provides the option to purchase additional coverage, Contents Replacement Cost. This additional coverage allows you to be compensated fully, with no consideration of the age or depreciation of your items.

Health Score:
10
Great Health
10
Good Health
10
Fair Health
10
Poor Health

During an emergency, you may face special difficulties, especially if you suffer with a chronic illnesses or disease.In the event of an emergency that displaces you from your home, it’s quite possible that those chronic health conditions could become more severe. Fortunately, Travelers offers Loss of Use coverage. This coverage is extremely beneficial, designed to provide aid if you are forced out of your apartment by a covered event. Loss of Use coverage provides a percentage to you to help cover for necessary additional living expenses such as hotels, meals and transportation while your damaged rental is being repaired. 

Having this option of relocating to a stable environment is extremely convenient and decreases the possibility of exacerbating any present medical conditions. 

Pros:

  • Through the website, policyholders can view their policy documents, see billing information and view claim information and status. Access is available 24/7/365.
  • Travelers offers an AutoPay option to help make paying the bill easier. Payments are debited securely and automatically each month on the bill’s due date from a previously authorized account. 
  • When compared across the board to other companies, Travelers’ customer satisfaction scores were rated average or better.
  • Although the company has been established longer than many others, the company does not have as many complaints as other comparably-sized companies.
  • Travelers Insurance provides a variety of add-ons and riders to give renters additional coverage for things that they own. 
  • Customer service representatives have been described as knowledgeable and truthful. They are genuinely courteous and show real interest when attempting to resolve issues.
  • Travelers has more than 10,000 claims representatives on staff throughout the company, ensuring the claims process is smooth and seamless.
  • For its price, Travelers provides excellent value for coverage and customer service.

Cons:

  • Limits for personal property are stricter than other companies. 
  • Complaints have been cited against the company for continuing to auto-draft payments even though the policy had been previously canceled. 
  • Customers have complained that coverage and policy information was not always explained thoroughly throughout the process of obtaining a policy. This resulted in customers being confused and unsure of actual coverages.

Bottom Line:

Founded in 1853, Travelers has progressed to earn a reputation as one of the best property casualty insurers in the industry. Known as one of the most stable names in the insurance industry, Travelers offers a wide range of renters insurance and add-on optionsto help protect your personal belongings.

Travelers was recognized by Fortune magazine as one of the "World's Most Admired Companies,” and was named by Forbes magazine as one of its "Most Respected Companies." Additionally, the company continues to receive rave reviews from satisfied customers. 

If you’re looking for one-on-one guidance from an agent or prefer to contact customer service for assistance, Travelers might be a good fit.

Frequently Asked Questions:

Will the premium increase if a claim is filed?

There is no guarantee that a premium will increase due to the filing of a claim. However, filing numerous claims may have an adverse effect on rates, and may even be cause for the cancellation of the policy.To be sure of the specifics of a particular policy, the insured should contact Customer Service for assistance. 

When a claim is filed, is proof of ownership needed for stolen or damaged property?

After a loss, it may be difficult to remember the details of every item you have accumulated in your home over the years. Therefore, the company recommends completing an inventory of all possessions, to include serial numbers. Though not always required, having this information can expedite the claims process. 

Can the status of a claim be monitored?

Yes. Once a claim is filed, customers can track the status of their claims 24/7 with the online portal or mobile app. Customer service and local agents can also provide claim status updates.

More Information:

Product Details

Overview: With over 150 years in the industry, Travelers is the third-largest writer of U.S. personal insurance in the country. The company provides a wide range of insurance options. 

Package Details: N/A

Optional Accessories or Add-on Services, if any:  N/A

Additional Company Details

Contract Details: N/A

Warranty: N /A

Accreditations: Travelers has an accredited business profile with the Better Business Bureau and maintains an A+ rating.  

Company Details: Founded in 1853, Travelers has grown to become one of the largest insurance companies in the world, providing coverage for auto, home and business. The company provides coverage in every U.S. state and also operates in Canada and the U.K. The company boasts over $100 billion in assets.

Contact: 

Travelers Insurance
1 Tower Sq Stop 8A
Hartford, CT 06183-0001
Tel:866-602-9357
Email:consumeraffairs@travelers.com
Website: https://www.travelers.com/

T. Mashae Pearson - Senior Advisor

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