Travelers vs. State Farm: Home Insurance Comparison


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According to MoneyGeek's study, State Farm ranks fifth in the U.S. against other home insurance providers, while Travelers ranks 15th. State Farm and Travelers both score well overall for affordability, financial stability and customer satisfaction. However, State Farm wins out when it comes to customer satisfaction, and Travelers is slightly more affordable on average.

To help you compare the two insurance companies, MoneyGeek's review of Travelers vs. State Farm homeowners insurance delves into their average rates, coverage options and available discounts.

Comparison Overview: Travelers vs. State Farm

MoneyGeek has created a table to help you compare Travelers vs. State Farm homeowners insurance policies, outlining the companies' distinctive features. The insurers received comparable overall scores and perfect scores for financial stability, indicating that they are financially sound and able to meet their financial obligations to their policyholders.

In terms of pricing, Travelers offers slightly cheaper premiums compared to State Farm, although they both scored well for affordability. However, State Farm comes out on top for customer satisfaction.

Another advantage of State Farm is its broader range of add-on coverage options and discounts, which gives customers more choices and flexibility in tailoring their policies to their specific needs. Travelers and State Farm homeowners insurance policies are both available in 48 states (including Washington, D.C.), making them accessible options for homeowners across the country.

Feature
Travelers
State Farm

Total Score

88

91

Satisfaction

3.5

4.0

Stability

5.0

5.0

Affordability

4.7

4.7

Average Annual Premium

$2,119

$2,138

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COMPARE TRAVELERS TO OTHER HOME INSURANCE COMPANIES

MoneyGeek ranked companies based on nationally recognized data from leading consumer reporting agencies, including J.D. Power for customer service, AM Best for financial stability and Quadrant Information Services for affordability. Learn more.

Which Company Is Cheaper Overall?

Travelers has a slight advantage over State Farm in terms of affordability, with a cheaper average annual rate of $2,119 compared to State Farm's rate of $2,138. However, it's important to note that these are average costs of homeowners insurance, and your actual premium may vary based on factors such as your credit score, the location of your home and the estimated cost of reconstruction.

Average Annual Home Insurance Premium: Travelers vs. State Farm

house
Travelers

Average Annual Premium

$2,119
house
State Farm

Average Annual Premium

$2,138
State Farm’s homeowners insurance costs on average:$19 more

This is 1% more expensive.

When calculating the cost of homeowners insurance, insurance companies consider several factors, but the most important are your home's location and the amount of dwelling coverage you need.

Which Company Is Cheaper Based on Dwelling Coverage Amount?

Dwelling coverage protects you financially if your home needs to be repaired or rebuilt due to a covered incident. Therefore, the amount you choose should be approximately equal to the total costs associated with repairing or rebuilding your home.

For coverage levels ranging from $100K to $500K, Travelers is slightly more affordable than State Farm. Conversely, for coverage levels between $750K and $3 million, State Farm offers better rates.

Refer to the MoneyGeek table below to understand how dwelling coverage amounts affect homeowners insurance prices.

Average Premiums for Travelers vs. State Farm
Travelers$100,000$1,716
State Farm$100,000$1,917
Travelers$250,000$2,287
State Farm$250,000$2,427
Travelers$500,000$5,528
State Farm$500,000$5,666
Travelers$750,000$8,089
State Farm$750,000$8,051
State Farm$1,000,000$10,202
Travelers$1,000,000$10,938
State Farm$2,000,000$20,611
Travelers$2,000,000$22,544
State Farm$3,000,000$31,612
Travelers$3,000,000$34,812

How Much Does Each Company Cost by State?

Homeowners insurance rates vary across states. For example, Travelers' average rate in Ohio is its lowest rate in the country at $487 per year, while it charges the highest average rate in South Carolina ($8,742 per year). Meanwhile, Rhode Island is the cheapest state for State Farm coverage ($765 per year), and Texas is the most expensive ($3,994 per year).

Refer to the MoneyGeek table below to see how homeowners insurance rates from State Farm and Travelers vary by state.

Average Premiums for Travelers vs. State Farm
State FarmAK$1,176
State FarmAL$1,482
TravelersAL$1,080
State FarmAR$1,680
TravelersAR$988
State FarmAZ$1,224
TravelersAZ$3,296
State FarmCA$1,681
TravelersCA$1,463
State FarmCO$2,833
TravelersCO$2,576
State FarmCT$1,665
TravelersCT$1,315
State FarmDC$2,216
TravelersDC$2,029
State FarmDE$817
TravelersDE$704
State FarmFL$2,200
TravelersFL$1,056
State FarmGA$2,883
TravelersGA$1,936
State FarmHI$1,013
State FarmIA$1,052
TravelersIA$713
State FarmID$2,020
TravelersID$1,022
State FarmIL$1,787
TravelersIL$1,332
State FarmIN$1,037
TravelersIN$869
State FarmKS$1,726
TravelersKS$1,452
State FarmKY$1,168
TravelersKY$788
State FarmLA$940
State FarmMA$1,705
TravelersMA$3,001
State FarmMD$1,509
TravelersMD$1,390
State FarmME$1,088
TravelersME$808
State FarmMI$2,518
State FarmMN$2,497
TravelersMN$2,266
State FarmMO$2,279
TravelersMO$1,959
State FarmMS$1,782
TravelersMS$754
State FarmMT$3,186
TravelersMT$2,868
State FarmNC$2,404
TravelersNC$1,050
State FarmND$2,703
State FarmNE$3,464
TravelersNE$2,126
State FarmNH$982
TravelersNH$745
State FarmNJ$1,107
TravelersNJ$899
State FarmNM$1,548
TravelersNM$1,090
State FarmNV$1,186
TravelersNV$658
State FarmNY$994
TravelersNY$1,485
State FarmOH$783
TravelersOH$487
State FarmOK$2,582
TravelersOK$2,234
State FarmOR$965
TravelersOR$587
State FarmPA$1,662
TravelersPA$1,584
State FarmRI$765
State FarmSC$1,368
TravelersSC$8,742
State FarmSD$2,847
TravelersSD$1,675
State FarmTN$2,230
TravelersTN$6,292
State FarmTX$3,994
TravelersTX$3,610
State FarmUT$1,055
TravelersUT$684
State FarmVA$1,191
TravelersVA$1,456
State FarmVT$1,068
TravelersVT$1,021
State FarmWA$1,250
TravelersWA$667
State FarmWI$1,323
TravelersWI$992
State FarmWV$955
State FarmWY$2,100

Which Company Has Better Customer Service?

Evaluating the quality of service provided by a homeowners insurance company is just as important as considering its affordability. Prompt and efficient service is essential during the process of submitting and settling an insurance claim.

In MoneyGeek's study, State Farm narrowly beat out Travelers with a score of 91 out of 100, compared to Travelers' 88. They both scored perfectly in the area of financial stability, but State Farm outperformed Travelers in terms of customer satisfaction according to J.D. Power's Home Insurance study, leading to its higher overall customer service score.

Travelers vs. State Farm: Customer Service Scores
Score
Travelers
State Farm

MoneyGeek Score

88

91

Satisfaction Score

3.5

4.0

Stability Score

5.0

5.0

Affordability Score

4.7

4.7

Which Company Has More Optional Coverages?

Travelers offers seven optional coverages compared to State Farm's 12, but it has more standard coverage options than State Farm.

A typical homeowners insurance policy includes personal property, liability and dwelling coverages. However, if you're looking for additional security beyond the standard coverage options, many companies offer certain less common optional coverages.

Travelers offers an energy efficiency upgrade, while State Farm offers several more optional coverages.

Coverage
Travelers
State Farm

Sewer backup coverage
Covers the cost of
water damage from
a sump pump,
drain or sewer overflow.

Identity theft coverage

Covers some of the
costs incurred due to
identity theft or fraud.

Extended reimbursement

Extends your limits for
certain coverages.

Scheduled personal property coverage

Covers the cost of
valuable items like
jewelry, furs, fine art, etc.

Building ordinance or law coverage

Covers the cost to
rebuild or upgrade a
home so that it
meets the most up-to-date
building codes after a
covered loss.

Travelers offers all of the standard coverage options, but State Farm only offers four — it does not offer extended reimbursement coverage or contents replacement cost coverage. The former provides more protection if your dwelling coverage amount is not enough to cover the repair of your home, while the latter covers the cost to replace personal items at the time of loss with no deduction for depreciation.

On the other hand, State Farm offers a wider range of less common coverages, including earthquake and home systems coverage. These add-ons can be useful if you want additional protection, such as if you live in an earthquake-prone area.

Note that MoneyGeek obtained this information from the companies' websites, and they may offer additional options not advertised online.

Which Company Has More Discounts?

Availing discounts can help you save more on your homeowners insurance. In our comparison of Travelers vs. State Farm homeowners insurance, we found that State Farm offers seven discount options, including all of the most common ones, whereas Travelers provides five total discounts and only three of the standard discounts.

Discount
Travelers
State Farm

Protective device discount

Discount for having
theft or fire protection
devices, such as alarms
or sprinklers.

>

Insurance bundling discount

Discount for bundling
your homeowners insurance
policy with another product,
like auto insurance.

Claims-free discount

Discount for going
several years without
filing a claim.

New home discount

Discount for homes that
have been recently constructed.

Home renovation discount

Discount for homes that
have been recently renovated.

The standard discounts offered by State Farm but not Travelers are the new home and home renovation discounts. These discounts can help you save money if you own a recently renovated or newly constructed property. Less common discounts exclusive to State Farm include the continuously insured discount and the roofing material discount.

On the other hand, Travelers offers two unique discounts: the home buyer and green home discounts. The former is available to new homeowners who have purchased their house within the last 12 months, while the latter can help you save up to 5% if your home is already certified as a green home by LEED.

Note that MoneyGeek acquired this data from the companies' websites, and they may offer other discounts that are not disclosed online.

How Much Could Your Homeowners Insurance Premium Cost?

The actual cost of your homeowners insurance will vary based on several factors, including, most importantly, the cost to repair or rebuild your home. To get a more accurate estimate of your rate, try out MoneyGeek's homeowners insurance calculator below.

If you're still unsure as to which insurer to choose, MoneyGeek has compiled a list of the best homeowners insurance for you to consider.

Home Insurance
Calculator

MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.

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Rates updated:

Dec 13, 2024

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About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.


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