Travelers Auto insurance is a multinational insurance company offering a variety of policies that include auto, life, home, and renter’s insurance.
The company has been featured on the Fortune 500 list consistently since 1995 and has been the recipient of multiple awards, including the NAIC award for the Largest U.S. Workers Compensation and Commercial Auto Carrier from 2014 to 2017.
As you study the Travelers Auto insurance reviews, it’s important to realize there are a variety of policy options available that help you create the best policy for your needs.
- Liability Coverage: This covers bodily injury and property damage liability and is required by most states.
- Comprehensive Coverage: This will pay for damages to your vehicle that don’t occur as the result of an accident, such as theft, vandalism, or acts of nature.
- Collision Coverage: This policy takes care of damage to your vehicle in the event of a collision with another vehicle or object.
- Medical Payments Coverage: This add-on option covers medical expenses and, in some cases, loss of wages, for anyone injured in your vehicle during an accident.
Claims Satisfaction
Although customers may make occasional contact with their insurer to make minor changes to their policy such as adding or changing vehicles or adding a new driver, the primary way that the consumer interacts with the company is while making a claim.
J.D. Power, Consumer Reports, and other market research and review companies all have unique criteria that they use to rank major insurance providers. All of these can be categorized using three key performance indicators that are related to the claims process: communication, ease of service interaction, and timeliness.
Overall, Travelers Auto insurance reviews show that the company has generally received an average rating of 3 out of 5 in the J.D. Powers 2017 US Auto Claims Satisfaction Study. In the individual categories that make up this rating, Travelers received a 3 out of 5 rating except for Repairs Process, for which it received a 2 out of 5.
These Travelers Auto insurance ratings place the company in the middle of the field, coming in just below major insurance providers such as Progressive and Auto Club of California Insurance Group, and just above MetLife and Farmers.
Customer Satisfaction
When it comes to overall customer satisfaction, Travelers Auto insurance reviews look beyond the claims process and consider all the communications between the company and its insureds. All communication and customer interaction is considered, including how well the company answers questions asked by both policyholders and potential customers, as well as how the company handles complaints.
The J.D. Power shopping study contains overall satisfaction ratings for Travelers and its major competitors that relate to Policy Offerings, Pricing, Local Agent and Call Center Responses, and the Insurer Website. Travelers Auto insurance ratings place the company about average in all categories except Pricing, for which it received a below average rating, which puts the company just above Allstate and just below Farmers.
The National Association of Insurance Commissioners (NAIC) maintains an annual database of complaints received by major insurance providers to provide consumers with a ratio of how many justified complaints the company receives each year in relation to the number of claims it files. Insurance providers voluntarily submit their complaint information to the NAIC.
With only 3 total complaints in 2017, Travelers Auto (NAIC #25658) had a justified complaint ratio of 0.36 complaints per 100,000 policyholders, well below the national median of 1.00.
Pricing
There are a variety of factors that contribute to the price of any car insurance policy including the make and model of the vehicle and your geographic location, age, gender, and driving history.
For comparison purposes, the following scenario is used to review pricing.
- Single Male (licensed 9 to 15 years): One car (Toyota Camry), no violations, driving around 12,600 to 15,000 a year, and living in San Francisco County, California.
In this scenario, which involves a single male driver in California, Travelers pricing is just below the median with a quote of $1,044. The lowest quote for this scenario comes from Lova, at a price of $567, with the highest being from Viking at $1,990. Nationwide was closest to the median for this scenario with $1,247.
If the scenario is changed slightly so the single male driver has instead been driving for 16 to 40 years, the quote from Travelers drops to $974. If we again change the scenario to include a single traffic ticket, the quote jumps to $1,574.
These price fluctuations are a good reminder of how important it is to provide all pertinent information when shopping for quotes from insurance providers.
Financial Strength
While shopping for car insurance, many of us don’t research the financial strength of the insurance providers we’re considering.
But if a large-scale disaster strikes, it’s important to know that your policy will be honored and that your provider will able to pay all the claims that result from the disaster. Information and tips on how to understand rankings from the five independent rating agencies are provided by the Insurance Information Institute.
The financial ratings for Travelers indicate that the company is very strong financially. A.M. Best issues a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” on Travelers Insurance Company Limited (TICL).
Moody’s Investors Services gives Travelers a rating of Aa2, which means that the company’s obligations are of high quality and the company is subject to very low credit risk.
Now that you’re armed with the information detailed in the above Travelers auto insurance reviews, you should have a better understanding of how this company manages claims and provides services to policyholders. Use the information in these reviews to help you find the right car insurance provider and the right policy to suit your needs.
*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.
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