Travelers auto insurance ranked No. 4 in Insure.com’s Best Auto Insurance Companies ranking for 2023 with 3.7 stars out of 5. More than 80% of customers say they’re satisfied with the company’s home and auto bundling.
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Travelers scored at the top of the Insure.com 2023 Best Insurance Companies auto survey for customer satisfaction. Our survey also found that Travelers scored well for home and auto bundling and was a top pick for being recommended by its customers to others. In addition, Travelers has cheaper rates than many of its competitors.
With customers’ positive response in terms of overall satisfaction and high customer loyalty, Travelers is one of Insure.com’s top picks for auto insurance in 2023. It ranked No. 4 in Insure.com’s Best Car Insurance Companies ranking for 2023 with 3.7 stars out of 5.
Below is Insure.com’s review of the company. It’s based on third-party metrics and an in-depth survey of insurance customers. Find the full methodology here, including an explanation of our survey scores.
AM Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.
Travelers has low rates compared to other companies in our survey, with a national average cost of $1,488 a year, which is $124 a month. That’s a lot lower than many competitors, although it isn’t the cheapest of the car insurance companies surveyed.
Travelers has high rankings for customer satisfaction and is one of the two top-rated companies in our ranking, the other being Erie. Of the Travelers customers who responded to our survey, 96% said they are satisfied or highly satisfied with Travelers.
Another customer satisfaction metric to consider is J.D. Power’s auto insurance survey. It doesn’t rate car insurance companies nationally, so our editorial team averaged out Travelers’ regional scores to get an idea of how the company performed. Travelers scored 829/1,000, just below the average of 834.
Eighty-five percent of customers were pleased with the company’s ease of service, saying they are either satisfied or highly satisfied. That’s not the top score, but it ranks the company reasonably well. Most companies in our survey, including Travelers, were in this category’s 80-90 percentile range.
When it comes to policy offerings, Travelers is right in the middle – 85% of customers surveyed said they were satisfied or highly satisfied with the company’s offerings.
Customers would overwhelmingly recommend Travelers to their friends and relatives. Of the companies we ranked, Travelers and Erie topped this category with 96% of their customers saying they’d recommend the company to others.
Customers find Travelers to be a reasonably trustworthy auto insurance company. In the survey, 81% of customers said they trusted the company, which was a good score and above the average. State Farm topped this category.
Most of the Travelers customers in our survey said they plan to renew their auto insurance. Travelers’ 96% score in this category is a high rating, although not the highest.
Travelers is among the best regarding claims satisfaction and survey respondents ranked it second in this category.
Looking at a third party metric: In the 2022 J.D. Power Auto Claims Satisfaction survey, the company had a score of 854/1,000. The average in that survey was 873.
Auto and home bundling was one of Travelers’ best categories. The company scored well with a high survey score of 81% – better than competitors such as Allstate and Travelers.
Comparing the company with competitors, Travelers’ average auto and home discount is low at 10%. Again, the cheap base rates might make a difference here.
Travelers is one of the largest insurance companies in America. It’s the second-largest writer of commercial property casualty insurance and is in the top 100 of the Fortune 500. The company has more than 30,000 employees and has offices in all 50 states and operations in Europe, Asia, and South America. Originally founded in Minnesota, Travelers is now headquartered in New York.
J.D. Power. “Insurers Struggle to Manage Expectations in Auto Claims Process as Repair Times Increase, J.D. Power Finds.” Accessed December 2022.
J.D. Power. “Usage-Based Auto Insurance Takes Center Stage as Satisfaction Flatlines, J.D. Power Finds.” Accessed December 2022.
Nationwide. “Car insurance quotes by state.” Accessed December 2022
Nationwide “Full coverage insurance.” Accessed December 2022
Nationwide. “Auto insurance discounts.” Accessed December 2022
Insure.com in the fall of 2022 surveyed more than 1,500 people with auto, home, life and health insurance (1,080 people with auto insurance). The survey was conducted by online market research company Slice MR. Respondents were asked to name their insurer and the editors then selected – based on the number of responses – the top companies for this year’s Best auto insurance companies ranking. Insure.com needed 20 or more of a company’s customers to respond to the survey for that insurer to be included in the ranking, although in some categories the editors did consider companies with 18 or 19 responses.
Respondents were first asked to grade their insurer in the following categories – customer satisfaction, claims satisfaction and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.
Survey score calculation: Respondents were then asked to rank their insurer’s top three attributes out of more than a dozen presented – including customer satisfaction and policy offerings. For a number one choice, five points were given; for a second choice, three points; and for a third choice, a single point. The total points for each choice – first, second and third – were then divided by the number of each company’s customers who responded to that survey question to create a percentage. Those percentages are presented in the results as scores.
Respondents were then asked if they would recommend their insurer to someone else. The percentage who said yes is presented in the results.
They also were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.
The editors compiled the survey results and then collected National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives, and AM Best data, which measures financial strength.
They also collected insurance rate data from Quadrant Information Services (for auto and home insurance), Compulife (for life insurance) and the public health marketplace (for health insurance).
With the help of Prof. David Marlett, Ph.D., managing director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For auto and home insurers, we used the following weights to calculate the overall score for each company: