Best Home Insurance Companies

Travelers home insurance review and ratings 2023

Travelers is the No. 3 home insurance company in Insure.com’s 2023 Best Insurance Companies list, with a 3.6 star rating out of 5. It ranks well for ease of service and is highly rated for policy offerings.

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Our take

Travelers was consistently rated highly by home insurance customers in Insure.com’s 2023 Best Insurance Companies survey, landing a ranking of No. 3 overall. That’s thanks to high scores for its ease of service and policy offerings, where it scored 91% in both categories. 

Travelers earned high scores in multiple categories, and customers were incredibly likely to recommend it to friends and family. In fact, 92% of Travelers customers would recommend it.

Travelers’ home insurance rates are much higher than the national average and higher than other companies in the survey by a wide margin. Despite scoring well on the survey, Travelers doesn’t perform nearly as well in J.D. Power’s rankings.

Overall, however, it’s a solid choice for home insurance, with an excellent A++ financial rating from AM Best.

travelers
Travelers Ratings
Overall Rating: 3.6
Average Premium: 2.0
NAIC: 0.60
Customer Satisfaction: 4.4
AM Best Rating: A++

Pros and Cons

Pros:
  • High score for policies offered and ease of service
  • Offers multiple types of additional coverages for your home
  • Consistently in the top half of all companies surveyed
Cons:
  • Bundling discount is on the lower side at 11%
  • Rates are much higher than average

Below is Insure.com’s review of the company. It’s based on third-party metrics, including two J.D. Power studies (Home Insurance Study and Property Claims Satisfaction Study) and an in-depth survey of insurance customers. Find the full methodology here, including an explanation of our survey scores.

How much Travelers costs

Travelers rates are much higher than other companies and well above the national average of $2,433 a year. Rates vary widely by location, but on a national level, Travelers is expensive.

Company Average annual rate
Travelers $3,763
American Family $2,139
Allstate $1,895

How Travelers scores for customer satisfaction

Our survey found that 88% of Travelers customers rate it highly for customer satisfaction, better than many of its top competitors. State Farm led this category. However, Travelers scored below the average of 819 for overall satisfaction with J.D. Power’s Home Insurance Study. 

Company Percent of customers who are satisfied J.D. Power overall satisfaction score (out of 1,000)
Travelers 88% 794
American Family 88% 842
State Farm 93% 829

How Travelers scores on ease of service

Travelers scored highly for ease of service, with 91% of current customers in the survey saying they are satisfied or highly satisfied with the ease of getting the service they need from their insurance company. Travelers had the highest score in this category among the companies we ranked.

Company Percent of customers satisfied with the company’s ease of service
Travelers 91%
Progressive 90%
American Family 83%

How Travelers rates on policy offerings

Our survey found that 91% of respondents are happy with the policy offerings from Travelers. That led the category among ranked companies. Progressive tied for second with State Farm.

Company Percent of customers satisfied with the company’s policy offerings
Travelers 91%
Progressive and State Farm 88%
Farmers 76%

Would current customers recommend Travelers to others?

According to our survey, yes. Ninety-four percent of respondents said they’d recommend Travelers to others, tying it for second with American Family among ranked companies. State Farm won this category.

Company Percent of customers who would recommend the company to others
Travelers 94%
American Family 94%
State Farm 97%

How trustworthy is Travelers?

When asked in the survey, 81% of Travelers’ customers who responded said they trust their insurance company. That’s better than a lot of big competitors and one of the better scores in this category. State Farm is the most trusted insurer among the companies ranked.

Company Percent of customers who say they trust the company
Travelers 81%
State Farm 83%
Progressive 74%

Do Travelers customers plan to renew?

In the survey, 97% of Travelers’ customers said they plan to renew their home insurance with the company – no ranked company’s customers rated their insurer higher. USAA did score slightly higher, but is not ranked.

Company Percent of customers who plan to renew with the company
Travelers 97%
American Family 94%
Erie 88%

How Travelers scores on claims handling

Based on our survey results, Travelers rated in the middle for claims handling, with a survey score of 66%. J.D Power gives Travelers a rating of 852/1000 for claims satisfaction, ranking it below the industry average of 871. Liberty Mutual, which isn’t ranked, was the top company in this category.

Company Survey score for claims handling J.D. Power claims satisfaction score (out of 1,000)
Travelers 66% 852
Liberty Mutual 98% 876
Farmers 72% 884

How Travelers scores for auto and home bundling

Travelers offers a 12% auto and home bundling discount, and our survey found that it scored well compared to other companies for combining auto and home insurance. Its survey score of 75% is relatively high despite Travelers having one of the smaller discounts.

Company Survey score for auto and home bundling Average bundling discount
Travelers 75% 12%
Farmers 69% 15%
Allstate 61% 16%

How Travelers scores for discounts

Travelers offers a small range of discounts, and customers rate it midpack for money-saving options. Liberty Mutual, which isn’t ranked, scored much better. But, it should be noted, no ranked company did particularly well in this category.

Company Survey score for discounts
Travelers 53%
Liberty Mutual 81%
State Farm 46%

Travelers coverage types

  • Standard homeowners
  • Condo owners
  • Renters

Travelers discounts

  • Multi-policy
  • Protective device
  • Home buyer
  • Loss-free
  • Green home

Other policies offered

  • Auto
  • Landlord
  • Flood
  • Motorcycle
  • Boat and yacht
  • Travel
  • Pet
  • Wedding and event
  • Umbrella

States where Travelers offers coverage

Graph
Table
States where Travelers offers coverage
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
Washington D.C.
West Virginia
Wisconsin
Wyoming
AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY
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Company background

travelers

Travelers is made up of two companies; one was founded in Saint Paul, Minnesota as St. Paul Fire & Marine Insurance Co in 1853. In 1863 The Travelers Insurance Company was founded in Hartford, Connecticut, and the two companies merged in 2004. The company officially took the Travelers name in 2007.

Today, it is in the top 100 of the Forbes 500, and the company is the second-largest writer of commercial property casualty insurance in the country. It’s currently headquartered in New York City, with its largest office in Hartford. The company has more than 30,000 employees and operations in Europe, Asia, and South America.

Resources and Methodology

Sources:

Travelers. “Homeowners insurance.” Accessed December 2022.

Travelers. “Home insurance discounts & savings.” Accessed December 2022.

J.D. Power. “2022 U.S. Property Claims Satisfaction Study.” Accessed December 2022.

J.D. Power. “2022 U.S. Home Insurance Study.” Accessed December 2022.

Methodology

Insure.com in the fall of 2022 surveyed more than 1,500 people with auto, home, life and health insurance (805 with home 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 Home 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.

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 home insurers, we used the following weights to calculate the overall score for each company: 

  • AM Best: 25% of total score
  • NAIC: 15% of total score
  • Annual premium: 20% of total score
  • Survey: 40% of total score (10% customer satisfaction, 10% recommended and 10% renewal rate, 10% claims handling)

No company in the ranking received less than 1 star in any category and 5 stars was the most any insurer could receive.

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