Travelers insurance is one of oldest and well-known insurers. It has flexible policy options, and it is rated highly in many states. This makes it a good choice for homeowners that want to make sure their home is covered against the most common hazards.
MoneyGeek compares Travelers Homeowners insurance to other companies
To evaluate Travelers as a homeowners insurance provider, MoneyGeek analyzed its website, collected quotes and consulted consumer intelligence organizations such as J.D. Power, NAIC, and AM Best.
A+ Financial Stability: "A strong financial rating from a respected organization like AM Best means that they can meet their obligations, which is something that any homeowner should be looking for," says Mark Fitzpatrick, senior content manager at MoneyGeek. A good rating from a top company does not guarantee savings or coverage. It is important to look at customer satisfaction ratings.
High-Value Coverage: If you have valuable items, Travelers' Valuable Items Plus coverage may be a good option for you. This coverage protects items like jewelry, silverware, and electronics.
Additional Replacement Cost Coverage (ARC): This coverage reimburses you for the costs of repairs or rebuilding your home if your dwelling insurance doesn't cover its full value after a loss or damage.
Green Home Discount - Homes that are certified as green homes by the Leadership Energy and Environmental Design Organization (LEED) may be eligible for a discount of up to 5%.
Travelers' commitment to customer satisfaction is unmatched. In particular, Travelers' claims process is fast, accurate and can make the filing of a claim for homeowners much easier.
Smoke detectors are a great way to reduce the cost of your homeowners' insurance. You can also lower it by installing an interior sprinkler or home security system. They're especially useful if you live in a gated community or in an area where crime is more prevalent.
Loss Free Discount: This offer is only available to homeowners with no claims in the past. It will vary by state but typically requires you to have been without a claim for at least a year before applying for this discount.
Safe Home Bonus: If you install protective devices like smoke detectors, alarms for fires and smart home systems, then you can get a discount on home insurance. The devices help prevent burglary and fires.
Multiple Policy Bundles : You may be eligible for a discount if you have multiple Travelers policies. This includes auto insurance and condo insurance.
Mobile App: A Travelers app lets you access your policy information and make payments online. You can also track and file your claim.
Alice Stevens is the senior editor for insurance at BestCompany. She says that Travelers customers consistently express satisfaction with their experiences. Stevens also adds that the company's customer service has improved significantly this year.
MoneyGeek gives a rating of 87 for the overall average rating of travelers homeowner insurance, which is excellent. However, overall financial stability ratings and affordability scores don't compare to other insurance companies.