Travelers Home Insurance is among the oldest and best-known insurance companies in the world. It offers flexible policy options and excellent financial ratings in most states, so it's a great choice for homeowners who want to ensure their home is protected against the most common perils.
MoneyGeek compares Travelers homeowners insurance with other companies
To evaluate Travelers as a homeowners insurance provider, MoneyGeek analyzed its website, collected quotes and consulted consumer intelligence organizations such as J.D. Power, NAIC and AM Best.
A+ Financial Stability: "A strong financial rating from a respected organization like AM Best means that they can meet their obligations, which is something that any homeowner should be looking for," says Mark Fitzpatrick, senior content manager at MoneyGeek. A good rating from a top company does not guarantee savings or coverage. It is important to look at customer satisfaction ratings.
High-Value Coverage: If you have valuable items, Travelers' Valuable Items Plus coverage may be a good option for you. It provides protection for items such as jewelry, silverware and electronics.
Additional Replacement Coverage: This policy reimburses repair and rebuilding costs in the event that your dwelling coverage does not cover your entire home's value.
Green Home Discount - Homes that are certified as green homes by the Leadership Energy and Environmental Design Organization (LEED) may be eligible for a discount of up to 5%.
Unparalleled Customer Satisfaction - Travelers, a leading insurance provider, is dedicated to providing the highest standard of customer service. Particularly, its claims process can be fast and accurate. This makes the process of filing for a home insurance claim easier.
Smoke detectors are a great way to reduce the cost of your homeowners' insurance. You can also lower it by installing an interior sprinkler or home security system. You can use them if your home is in a gated area or an area that has a higher crime rate.
Loss-Free: This is a discount for homeowners that have not made a claim over a given period. This will vary from state to state but usually requires that you haven't filed a claim for the last year.
Safe Home Bonus: You can receive a discount on your home insurance if you have installed protective devices such as smoke detectors, fire alarms and a smart home system. The devices prevent burglary and house fires.
Multiple Policy Bundles: You can get a discount for having several policies from Travelers, including auto insurance, condo insurance, boat and other types of policies.
Travelers' mobile app allows you online access to your policy and payment information. This app also allows you to track your claim and file it.
Alice Stevens, senior insurance editor at BestCompany, says Travelers customers are consistently happy with their experience. Stevens says that the company has also made significant improvements to its customer service in this past year.
MoneyGeek rates travelers homeowner's insurance at 87 out of 100, which is excellent. However, the overall financial stability and affordability scores aren't as high as other insurance companies.