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Geico and Progressive are better than Travelers, based on factors like average premiums, number of discounts available, and customer service record. Of the 10 largest car insurance companies, only Geico and USAA are cheaper than Travelers, on average.
Travelers vs. Popular Alternatives
Note: Average premiums are based on drivers in California with minimum coverage. Actual rates will vary.
Travelers Pros & Cons
Pros
- Great coverage options.
- Accident and violation forgiveness.
- Discount for hybrid cars.
- Online claims filing.
- Easy-to-navigate website.
Cons
- Complaints about high premiums.
- Average customer service and claims support.
- Limited availability for ridesharing coverage.
For more information about how Travelers compares to its competitors, check out WalletHub's full Travelers review.
This answer was first published on 09/19/23 and it was last updated on 03/27/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
Cons
- Complaints about high premiums.
- Average customer service and claims support.
- Limited availability for ridesharing coverage.
For more information about how Travelers compares to its competitors, check out WalletHub's full Travelers review.
People also ask
To cancel Travelers insurance, the policyholder call a representative at 1-800-842-5075, cancel by mail, or cancel in person. You will need to provide basic information about yourself, your Travelers policy number, and the date you would like your policy to end. Travelers may also ask for the details of your new car insurance policy to verify you won't be driving without insurance. If you've already paid your premium for the policy period in full, Travelers will refund...
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The best way to get cheaper car insurance is to compare quotes from multiple companies and then switch to whichever insurer offers the coverage you want at the cheapest rate. Other ways to get cheaper car insurance include taking advantage of discounts, improving your driving record, and raising your credit score.
10 Ways to Get Cheaper Car Insurance
1. Compare quotes every 6-12 months.
Every car insurance company calculates premiums slightly differently,...
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Travelers is so cheap because the company offers a wide variety of discounts that almost anyone can get. A minimum coverage policy from Travelers costs an average of $74 per month, and Travelers premiums can be made even cheaper by taking advantage of discounts such as continuous insurance discount and paid-in-full discount. Plus, Travelers rewards customer loyalty with discounts for insuring more than one car and bundling multiple policies, such as home and auto.
Average...
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FAQs
Travelers competitors include Liberty Mutual Insurance, Allstate, GEICO and State Farm Insurance.
Who are Travelers insurance competitors? ›
Travelers competitors include Liberty Mutual Insurance, Allstate, GEICO and State Farm Insurance.
What insurance is cheaper than Travelers? ›
On average, GEICO offers more affordable rates than Travelers for drivers with credit scores of less than 580.
What rank is Travelers Insurance? ›
J.D. Power 2023 Auto Claims Satisfaction Study: Travelers ranks 18th out of 24 insurance companies with a score of 871 out of 1000.
Is Geico cheaper than Travelers? ›
No, Travelers is not cheaper than Geico for car insurance. A minimum-coverage car insurance policy with Travelers costs $893 per year, on average, while a minimum-coverage policy with Geico costs an average of $796 per year. Full coverage from Geico costs less than Travelers' coverage, too.
Is Travelers owned by Geico? ›
Travelers Insurance is owned by its shareholders, as it is publicly traded, and it does not have a parent company. On the other hand, Geico is a separate company that is owned by Berkshire Hathaway.
Which company owns Travelers insurance? ›
Travelers is owned by its shareholders, as it is a publicly traded company.
Who typically has the cheapest car insurance? ›
- Geico is the cheapest car insurance company among large insurers according to NerdWallet's analysis, with an average rate of $30 per month for minimum coverage.
- American National offers the cheapest auto insurance among midsize companies, with an average rate of $25 per month.
Progressive and Travelers are two major insurance companies in the U.S. Both insurers have offered high-quality services and insurance solutions to customers for a long time. While both companies have a lot to offer, it's difficult to choose between the two.
What's the average cost of travelers insurance? ›
According to our research, the average cost of travel insurance is $204, but you could pay anywhere between $14 and $765 for travel insurance. While this may seem like a wide price range, it's important to understand that travel insurance is not a “one price fits all” purchase.
Bottom Line: Is Travelers a Good Insurance Company? Yes, Travelers is a good insurance company. In addition to affordable auto insurance for all types of drivers, Travelers also offers coverage options for homeowners, marine vessels, weddings/special events, travel, and small businesses.
Do Travelers pay claims well? ›
Leif Olson, Car Insurance Writer
Travelers is decent at paying claims compared to the average insurance company, according to J.D. Power's latest claims satisfaction survey. Travelers scored 864 out of 1,000 for their claims process, compared to the industry average of 873 out of 1,000.
Why is traveler's insurance so expensive? ›
Travelers is so expensive because car insurance is expensive in general, due to rising costs for insurers. But at $639 per year, the average Travelers car insurance policy is actually cheaper than coverage from most competitors.
What insurance is better than Geico? ›
Comparing top car insurance companies
| Company | Bankrate Score | J.D. Power Claims Satisfaction Study |
|---|
| Geico | 4.4 | 871/1,000 |
| Progressive | 4.4 | 870/1,000 |
| State Farm | 4.3 | 891/1,000 |
| Allstate | 3.9 | 882/1,000 |
May 9, 2024
Although accident forgiveness is not an automatic benefit with Travelers, it may be worth it if you're worried about your rate going up in the event of a mishap on the road. It will keep your insurance premiums from rising, even though the accident will still be recorded on your driving record.
Why is Geico insurance so low? ›
Direct-to-consumer insurance removes costly middlemen and allows Geico to have significantly fewer local offices and agents, making them cheaper than companies like State Farm and Progressive. Having a smaller agent network lowers Geico's overhead costs so they can pass those savings on to consumers.
Is Travelers insurance competitive? ›
Yes, Travelers insurance rates are competitive, as the company is one of the 10 cheapest auto insurers nationally, according to WalletHub analysis. Travelers car insurance customers pay an average of $639 per year for coverage.
Does Warren Buffett own Travelers insurance? ›
Berkshire Hathaway's Travelers Companies Stake
The first Travelers Companies trade was made in Q3 2009. Since then Warren Buffett bought shares two more times and sold shares on three occasions. The investor completely sold their stake between Q4 2019 and Q1 2020.
Does Travelers own Aetna? ›
In 1995 it became The Travelers Group. It bought Aetna's property and casualty business in 1996. In April 1998, the Travelers Group merged with Citicorp to form Citigroup.
Is Travelers insurance owned by MetLife? ›
The insurance giant MetLife Inc. announced Monday that it was acquiring Travelers Life & Annuity Co. from Citigroup Inc.
