Travelers Renters Insurance Review

Customer service ratings are critical when it comes to finding the best renters insurance policy on the market. Your insurer needs to provide great service in a timely manner to ensure your claims are processed efficiently.

Travelers’ financial stability is rated superior by AM Best, and it has a low National Association of Insurance Commissioners (NAIC) customer complaint ratio. Although they have a below-average J.D. Power customer satisfaction score, you can still expect top-notch customer service experience from this company.

J.D. Power measures customer satisfaction according to a company’s interaction, policy offerings, price, the billing process, policy information and claims. Based on their 2021 study, Travelers has a customer satisfaction score of 815 out of 1,000. The average is 848, which means that Travelers’ customer satisfaction reputation is low.

AM Best, a credit rating agency, gives Travelers’ financial strength an A++ rating. Based on this, this carrier has a superior ability to meet its financial obligations, which is important for an insurance company. This means that Travelers has the financial ability to pay insurance claims.

Various factors can affect the price of your renters insurance. On average, a standard policy costs around $159 per year, but the amount can change based on your preferred coverage limit and the value of your personal property.

The best way to find out how much you’ll pay for a Travelers renters insurance policy is by speaking to one of their agents. You can also use MoneyGeek’s personal property calculator to estimate how much coverage you need.

The amount of coverage you choose can greatly impact the cost of your renters insurance. A low limit can result in savings on your premiums but can cost you more if you need to file a claim, while too much coverage can cost you extra money unnecessarily.

MoneyGeek’s research shows that $20,000 is a good starting point when choosing coverage limits. You can also use our property calculator below to determine the ideal coverage limit based on the property you own.

You have four discount options for your Travelers’ renters insurance, which is less than the industry average of five. Nevertheless, this provider offers a good payer discount, which isn’t commonly found among renters insurance companies. This discount rewards customers who pay their bills on time.

Travelers gives their policyholders eight optional add-on coverages. The average number of add-on coverages that most renters insurance companies offer is seven.

Out of those eight, five aren’t usually offered by other providers, making them unique to Travelers. They offer add-ons like decreasing deductibles, special coverage on personal properties and refrigerated property coverage.

While Travelers’ renters insurance covers theft, they don’t advertise coverages for storms, earthquakes, floods or insect infestations.

MoneyGeek detailed the eight optional endorsements that you can include in your Travelers renters insurance policy. These include insurance for equipment breakdown, identity theft, personal property replacement, refrigerated property, personal injury, scheduled personal property and more.

Because different insurance providers offer different packages, it’s important to make sure that you’ll get all the standard coverages from your preferred carrier. These include coverage for personal property, personal liability, medical payments and additional living expenses.

If you’re living in an area that frequently encounters floods, earthquakes or insect infestation, you might also want to check if your provider has coverage for these incidents. It’s a good idea to read a policy’s fine print before you make a purchase.

If you prefer to do your transactions online, you can take advantage of Travelers’ online tools and features. You can get a personalized quote through their website, make payments, view account details and report claims online or using Traveler’s mobile app.

Aside from renters insurance, Travelers has a variety of insurance products. Whether you have a motorcycle, pet, boat or are planning an event, Travelers likely has coverage to keep you protected.

To evaluate Travelers’ quality as a renters insurance company, MoneyGeek analyzed Travelers’ website, manually collected quotes and consulted consumer intelligence organizations such as J.D. Power, the NAIC and AM Best.