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By Adam Morgan, Senior Finance Editor

Travelers Homeowners Insurance Review

Founded in 1853, Travelers is one of the oldest insurance companies in America — and probably one of the most recognizable, thanks to its umbrella logo. Today, Travelers offers home insurance in all 50 states, and it’s an attractive option for many homeowners thanks to its discounts, flexible coverage options, and financial strength. But Travelers didn’t make the final cut in our review of the Best Homeowners Insurance Companies because of its lower-than-average customer satisfaction scores in J.D. Power and Consumer Reports surveys. Still, it’s worth including Travelers when you compare quotes from multiple providers, especially if you qualify for discounts or need specialized coverage.

The Claim

According to its website, Travelers offers “a variety of policy options and packages to help you get the coverage that meets your unique needs,” and gives its customers “peace of mind with a claims process that is simple and stress free.”

Is it true?

Yes and no. The first part of the claim — about policy options that serve a customer’s unique needs — is accurate. Travelers’ homeowners insurance policies are far more flexible than many of its competitors thanks to add-on coverage for things like special personal property, identity theft, water back-up, and more (see below). In fact, the only other major company that provides as many options as Travelers is Allstate. But the second part of Travelers’ promise — a simple and stress-free claims process — doesn’t hold up in light of the evidence we examined.


Travelers

Product Overview

Best for

Homeowners looking for discounts and customizable policies

Not for

People who want stellar customer service and claims process satisfaction

Features

Price Quotes differ from person to person
In business since 1853
A.M. Best financial strength rating A++
Moody's financial strength rating Aa2
S&P Global financial strength rating AA
Standout features Lots of discounts
Customizable coverage options
Good financial strength
Smart home promotions and discounts

Discounts galore

Some of the discounts Travelers offers to homeowners are fairly standard — things like a 15% multi-policy discount for bundling your home and auto insurance, installing home security systems and devices, and a discount for homeowners who haven’t claimed a recent loss. But Travelers also provides a few unique discounts that might make a huge difference in your shopping decision. If you buy your home within 12 months before your policy becomes effective, you’ll qualify for a Home Buyer discount. And if your home is certified “green” by the Leadership Energy and Environmental Design (LEED) organization, you can save another five percent on your premium.

Note: While Travelers’ LEED discount is unique among the major insurance providers, Allstate offers a new-purchase discount similar to Travelers’ Home Buyer savings.

Customizable coverage options

Like Allstate, Travelers is more flexible than most homeowners insurance providers when it comes to coverage options. In addition to all the standard things included in an HO-3 policy (see “What does Travelers home insurance cover” below), Travelers offers the following add-on options (for an added cost):

  • Special Personal Property: A standard HO-3 policy doesn’t cover your property in every situation, so this option expands your coverage to account for special circumstances. Travelers doesn’t list what these circumstances are — nor whether you can tailor them to suit your most likely risks — so you’ll need to inquire directly with your agent or the company.
  • Contents Replacement Cost: While the endorsement above covers your home, this one will pay to replace or repair expensive items within your home, like TVs and furniture, though there are exceptions “such as jewelry, watches and furs.”
  • Additional Replacement Cost Protection: A standard policy already includes “replacement cost” protection to help rebuild or repair your home, but this endorsement makes more money available beyond the standard limit.
  • Jewelry and Valuable Items: Expands your policy to include things like jewelry, silverware, china, fine art, collections, bikes, trophies, sports and sound equipment, cameras, computers, furs, guns, and more.
  • Personal Articles Floater: Provides more coverage for valuable items if the endorsement above isn’t enough.
  • Water Backup and Sump Pump Discharge or Overflow: Standard policies don’t typically protect you from water damage due to a sewer, drain, or sump pump backup or overflow. This endorsement does.
  • Identity Fraud: Travelers lets you add up to $25,000 to cover expenses in the event your identity is stolen.
  • Green Home Coverage: Special coverage for homes built with green materials that will help pay for repairs and replacements.

Free Amazon Echo and other smart home promotions

To encourage its homeowners to embrace smart home technology, Travelers has partnered with Amazon for a special promotion: when you buy a Travelers homeowners insurance policy, you’ll receive a free Amazon Echo Dot with Travelers Skills “to help you manage your policy and your home.” Plus, if you purchase one of three custom smart home kits from Amazon to help protect your home from fire, water, and security threats, you’ll get a special discount for Travelers homeowners.

Possible Drawbacks

Weak customer service rankings

While Travelers provides great educational resources on its website, it doesn’t score well in customer surveys. In J.D. Power’s annual ranking of home insurance companies by customer satisfaction, Travelers only scores 788 out of 1000 — far below the national average of 818, and worse than all its major competitors. Travelers fared better in Consumer Reports’ homeowners insurance customer satisfaction survey, but still beneath Amica, The Hartford, Liberty Mutual, MetLife, Nationwide, and USAA. Needless to say, when it comes to customer satisfaction scores, you can do a lot better than Travelers, starting with our picks for the Best Homeowners Insurance Companies.

The Competition

Enter your ZIP code for quotes in your area

Travelers
Allstate
Geico
Amica
Our Review
Our Review
Our Review
A.M. Best financial strength rating
A++
A+
A++
A+
J.D. Power 2018 U.S. Home Insurance Study score
2/5
3/5
N/A
5/5
24/7 support

Travelers vs. Allstate

If you’re looking for a flexible policy, both Travelers and Allstate provide more coverage options than the average homeowners insurance company. But when it comes to customer service and satisfaction, Allstate is the clear winner over Travelers. While Allstate ranks above average with 822 out of 1000 points in the latest J.D. Power survey, Travelers is actually one of the lowest national providers on the list, with only 788 out of 1000. With that in mind, the only reason we might recommend Travelers over Allstate is if you qualify for certain discounts or need certain coverage options that make Travelers a better deal — assuming you don’t mind risking a poor customer service experience.

Travelers vs. Geico

As we noted in our Geico homeowners insurance review, Geico doesn’t actually sell homeowners insurance policies — it outsources them to third-party underwriters. That makes it impossible for J.D. Power or Consumer Reports to survey Geico customers, since their responses would be completely dependent upon which underwriter Geico paired them with. However, there’s a chance Geico will assign your policy to an underwriting company with better customer service than Travelers, so it’s a bit of a roll of the dice. For most homeowners, we don’t recommend either company when there are so many better options.

Travelers vs. Amica

When it comes to customer satisfaction, Travelers and Amica are on completely opposite ends of the spectrum. While Travelers struggles to meet the average, Amica is usually at the very top of J.D. Power’s and Consumer Reports’ rankings. There’s a clear winner here (Amica), though Travelers does provide far more online resources and could potentially be more affordable if you qualify for the right discounts.

Travelers Homeowners Insurance FAQ

What does Travelers homeowners insurance cover?

A standard Travelers homeowners insurance policy is an HO-3, which covers your home and related structures on your property, liability and medical payments if someone is injured on your property and/or sues you for it, and “loss of use” coverage if your home is rendered uninhabitable. But Travelers offers plenty of add-on “endorsements” if you’d like more coverage (see “Customizable coverage options” above).

Does Travelers offer flood insurance?

Not directly, but Travelers does sell flood insurance policies through the NFIP (National Flood Insurance Program). If you live in a flood-prone area, ask your Travelers agent about adding flood insurance.

The Bottom Line

Because of its weak customer service rankings, Travelers probably isn’t your best bet for homeowners insurance — in fact, it didn’t make the final cut for our review of the best homeowners insurance companies. But if you’re willing to risk a less-than-stellar customer experience, Travelers might offer you a more affordable premium than other providers if you qualify for its discounts or take advantage of its customizable coverage options — it’s always worth including as many insurance companies as possible when comparing quotes.


Travelers

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