Travelers – An Overview

The Travelers Companies, Inc., also known simply as Travelers, is an American insurance company with over 160 years of history covering policyholders across the country. Founded in 1853, Travelers has grown to become America’s second largest writer of commercial property-casualty insurance in the country. It also offers a full suite of personal insurance products, including home and auto insurance.

Travelers History

Travelers formed out of two separate companies, including Saint Paul Fire and Marine Insurance Co., founded in 1853 in St. Paul, Minnesota, and Travelers Property Casualty Corporation, founded in 1864 in Hartford, Connecticut. Saint Paul Fire and Marine Insurance Co. was one of the largest property and casualty insurance companies in the country in the late 1800s. Travelers, meanwhile specialized in providing travel insurance to railroad travelers at a time when traveling by rail was risky and dangerous.

travelers car insurance reviewTravelers has made a name for offering unique insurance policies before anyone else. The company claims to have offered the world’s first automobile insurance policy, for example, along with the first commercial airline insurance policy and the first space travel policy. Travelers also created the world’s first privately owned weather research facility in 1954: the Travelers Weather Research Center was the first weather forecasting agency to predict weather using probabilities – say, giving a forecast a 20% chance of rain.

Travelers went through some major changes in the 1990s. The company stopped selling travel insurance entirely in 1994, focusing exclusively or property and casualty insurance. Travelers was also purchased by Primerica in 1993, although it continued operating under the Travelers name. Travelers then merged with Citicorp to form Citigroup in 1998.

By 2004, after a series of corporate restructurings, the property and casualty division of Travelers had merged with the St. Paul and Travelers Companies to form The Travelers Companies, Inc., which is how the company is known to this day.

Travelers has also expanded outside the United States. Today, Travelers has offices in the UK, Ireland, Singapore, China, Canada, and Brazil. It has also grown to become one of America’s largest corporations overall, currently ranking at number 106 on the Fortune 500 list. Travelers earns about $30 billion in revenue per year while employing more than 31,000 people across the country.

Travelers Insurance Rankings

Travelers is ranked well by most insurance industry ratings organizations. The company scores average or above average in most metrics.

Here’s how Travelers performed in the latest J.D. Power rankings:

Insurance Shopping (Auto): About average

Auto Insurance Claims Satisfaction: About average

Home Insurance: Among the rest

Property Claims: About average

Travelers also has excellent financial strength and stability. The company scored an “A++” or “Superior” rating from A.M. Best. Most other insurance companies score between A- and A. This strong rating indicates that Travelers should have no issue paying insurance claims or covering its liabilities.

What Makes Travelers Insurance Unique?

Travelers has several unique features that differentiate itself from other insurance companies, including:

Website and Mobile App: Travelers has a well-designed website and mobile app where you can pay bills, track claims, manage your policy, call for roadside assistance, display policy documents, and more.

Voice Assistant: Travelers connects to devices that use Amazon’s Alexa virtual assistant, allowing you to manage your Travelers policy info using Alexa.

Multiple Insurance Products: Travelers is a large insurance company with a range of property and casualty insurance products, including insurance for condos, boats, yachts, businesses, renters, weddings, landlords, and jewelry, among others.

Good Home Insurance: Travelers offers good home insurance coverage options, including coverage for identity fraud, green home coverage, coverage for water backup, coverage for valuable items, and content replacement cost coverage, among other policies. Generally, Travelers is well-rated for both home insurance and auto insurance.

Is Travelers a Good Insurance Company? Our Review

Travelers is one of the top-ranked insurance companies in the United States, scoring well for both home and auto insurance. the company has a long and proven track record of providing good home and auto insurance to customers across the United States. Although the company initially specialized in providing travel insurance to railroad passengers (hence the name of the company), Travelers now focuses specially on property and casualty insurance and commercial insurance.

Travelers also offers a range of car insurance policies, products, and discounts similar to other major insurance companies, including rideshare insurance, new car replacement, accident forgiveness, gap insurance, umbrella insurance, and more.

We also appreciate that Travelers had fewer than the median number of complaints to state regulators for auto and home insurance in 2018 compared to other similarly-sized insurance companies.

Overall, Travelers offers good value car insurance that is rarely the cheapest in the country, but still offers a range of policy options and features you may not find elsewhere.

Travelers Auto Insurance Policies and Products

Travelers has several unique auto insurance policies and options, including all of the following:

IntelliDrive: The Travelers telematics driver tracking program is called IntelliDrive. An app tracks your driving speed, braking patterns, time of day you drive, and other factors for 90 days. Good drivers will get a discount of up to 20%. Bad drivers, however, may actually see their rates increase from driver tracking – something that doesn’t happen with other insurance company driver tracking programs.

Ridesharing Insurance: Travelers currently offers rideshare insurance for policyholders in Illinois and Colorado.

Gap Insurance: Travelers offers gap insurance that covers the gap between the value of your new car and its actual cash value after an accident.

Premier New Car Replacement: Travelers offers premier new car replacement, which allows you to replace your car with a brand new car if your new car (bought within the last five years) is totaled.

Responsible Driver Program: Travelers has a responsible driver program that forgives two types of incidents. You can get one accident and one minor violation foreign every 36 months. Under this program, our rates won’t go up after a single accident or minor violation.

Premier Responsible Driver Program: Travelers also has a premier responsible driver program that decreases your deductible for every six months you go accident-free, up to a maximum of $500 off your deductible.

Final Word

Travelers is one of America’s biggest and longest-running car insurance companies, currently ranking as the twelfth largest car insurance company in the country. Travelers is known for its strong customer service and good value. Generally, customers rank the company well for its claims satisfaction, price, and customer service. Travelers offers car insurance (and many other insurance products) in every state in the country.

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