With the cost of just about everything sky high, it’s easy to see why many folks are looking for a cheaper alternative for car insurance. However, many think car insurance falls into the “you get what you pay for” category. After all, few things are more stressful than getting in a car accident and then finding that your car insurance isn’t going to cover damages or medical bills. Travelers insurance is a budget-friendly option, but is it worth the money?
The Pros of having Travelers Insurance
According to CNET, Travelers Insurance has been around for over 165 years and has quite a few positive features to offer. First and foremost is the price.
The average premium for one year of full-coverage insurance from Travelers is $1,447. That’s about $325 cheaper than the national average for full-coverage insurance. With the prices of fuel, cars, and just about everything else hitting all-time highs, substantial savings is a great thing!
Travelers Insurance also offers a handful of coverage and options that some insurance companies do not typically provide. For one, Travelers offers a GAP insurance plan to help pay off your vehicle loan in the event of an accident. Additionally, the company has an accident forgiveness program that forgives an accident and one minor traffic violation every three years of enrollment. So, if you get in a crash or something like a simple moving violation, your insurance rate will not increase.
Additionally, Travelers offers a host of discounts on its premiums for various circumstances. Bundling with homeowners insurance, being a safe driver, and driving a hybrid or electric car can all net you discounted rates with Travelers. Additionally, discounts are available for good students, having a new car, insuring multiple cars, and continuously carrying insurance.
Finally, Travelers has a bit of a unique option for insurance rideshare drivers. This means that drivers for services like Uber and Lyft have special policies available through Travelers. However, these policies are only available in Colorado and Illinois.
Cons of having Travelers Insurance
Unfortunately, Travelers does not insure drivers in every state. If you live in Alaska, Louisiana, Michigan, South Dakota, West Virginia, Wyoming, Hawaii, or North Dakota, the company, unfortunately, can not provide you with a policy.
Additionally, while Travelers is an affordable option, many users of the company’s services report bad customer service experiences. J.D. Power conducted surveys to get an overview of customer satisfaction with various insurance companies. Overall, Travelers got low ratings from customers in many categories. These include overall satisfaction, digital service, and the auto claims process.
So, it seems that while it is a more affordable option, the customer service may be a bit questionable. That’s especially unfortunate in terms of auto claims because waiting for an insurance company to play ball after an accident and you’ve got a broken car is never a fun experience.
On the contrary, though, the company comes in under average for overall complaints according to data from The National Association of Insurance Commissioners. Additionally, AM Best gives the company an overall A++ rating. So, hopefully, those surveyed that gave negative reviews are in the minority sector of problematic experiences with the company.
Travelers may be the answer for you!
Overall, as is generally the case, it’s best to shop around and get quotes from various insurance companies when looking to insure a vehicle. Travelers does have some negative remarks. However, it seems that it’s generally a pretty safe company to purchase insurance through.
Just be sure when getting a quote that you’re receiving any and all applicable discounts! After all, you wouldn’t want to wash away any of your savings by missing something simple!