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Travelers Homeowners Insurance Review 2022

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Travelers Homeowners Insurance Review 2022

Travelers offers strong coverage and decent discounts, but home insurance isn’t available in all states.

If you’re looking for a customizable homeowners policy from a reputable, well-established company, it might be worth checking out Travelers home insurance. Founded in 1864, Travelers sells homeowners policies in most U.S. states. You can contact an independent agent to walk you through your coverage needs, then manage your policy online with ease.

Best for: People who want to score discounts for owning a new or “green” home.

Travelers home insurance pros and cons

How Travelers home insurance rates

Travelers homeowners insurance earned 4.5 out of 5 stars for overall performance. NerdWallet’s ratings are determined by our editorial team. The homeowners insurance scoring formula takes into account policy coverage options and discounts, ease of filing a claim, website transparency, the financial strength of the company, complaint data from the National Association of Insurance Commissioners and more.

Based on these ratings, Travelers is among VanQuangblog’s Best Homeowners Insurance Companies for 2022.

State availability

Travelers currently offers homeowners insurance in 45 states and Washington, D.C.

Travelers home insurance coverage

You can customize your homeowners policy with numerous add-ons, but below are the types of coverage that generally come standard:

Beyond these basic types of coverage for your home and your belongings, Travelers offers the following add-ons:

Special personal property coverage. Standard personal property coverage pays out if your belongings are stolen or damaged due to disasters listed in your policy. This add-on broadens your coverage to pay out for damage from any disaster, unless it’s specifically excluded in your policy.

Contents replacement cost. If your belongings are stolen or destroyed, Travelers will reimburse you with enough money to buy brand-new replacements, rather than lowering your payout for older items based on depreciation.

Additional replacement cost coverage. This provides extra funds if your home is destroyed and the cost to rebuild it is more than your dwelling coverage limit.

Extra coverage for jewelry and valuables. You can raise your coverage limits for certain valuable items or put them on a separate policy if the standard homeowners policy doesn’t provide sufficient coverage.

Water backup and sump pump discharge or overflow. This rider adds coverage if drains, sewer lines or sump pumps back up and cause water damage to your home.

Identity fraud. With this coverage, Travelers may reimburse you up to $25,000 if your personal information is stolen and used fraudulently.

Green home coverage. This rider pays for you to use environmentally friendly materials when repairing or rebuilding your home after a covered claim.

» MORE: 6 key terms to understand in your homeowners policy

Discounts

Those looking to save money on their homeowners insurance may be able to take advantage of the following discounts:

  • Multipolicy discount for bundling more than one type of coverage.
  • Claims-free discount to reward those with clean claims records.
  • Discount for those who’ve bought their home within the previous 12 months.
  • Discount for installing smoke detectors, fire alarms, interior sprinkler systems, home security systems or other protective devices.
  • Discount up to 5% for having a LEED-certified “green home” as determined by the U.S. Green Building Council

» MORE: Nationwide Homeowners Insurance Review 2022

Consumer complaints

Travelers had fewer than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)

Consumer experience

Website: Travelers’ site makes it easy to manage your policy, starting with an online quote. You can use the site to learn about homeowners insurance, find an agent, pay your bill, update your policy, and submit and track claims. You can also live chat with an agent on weekdays from 7 a.m. to 6 p.m. ET, a feature that isn’t yet available on the app.

App: Travelers has mobile apps for both iOS and Android devices. On the app, you can view policy information, pay bills, report claims and set up autopay.

Homeowners insurance buying guide

You can get home insurance quotes online, over the phone or through an agent. But before you start, take the following steps:

  1. Determine how much coverage you need. Is a standard policy sufficient, or do you want to add extra insurance for situations like identity theft or sewer backups? Check whether each company you’re considering has the options you need.
  2. Take inventory. To ensure you have sufficient personal property coverage, take stock of your belongings. Include all furniture, electronic devices, clothing, jewelry and household items. How much would it cost you to replace them? This total is the minimum amount of personal property insurance you should have.
  3. Make a fair comparison. When evaluating rates, make sure each insurer is offering the same limits and deductibles.
  4. Check consumer complaints. Although it may seem tempting simply to choose the cheapest option, look at how many consumer complaints each insurer has before choosing a policy. Poor customer service could have a significant impact on your experience if you ever need to file a claim.

How to file a homeowners insurance claim

File as soon as it’s safe. The sooner you report a theft or damage to your home, the sooner your insurer can assign an adjuster and start working on paying out your claim. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurer instead. Have your policy number handy.

Document the damage. Bolster your claim by taking photos or video of all damage. If something was stolen, report it to the police before you contact your insurance company. Your insurer may ask for a copy of their report.

Prevent further damage. After you’ve taken pictures of everything broken or destroyed, take steps to prevent additional damage. For example, you can put a tarp over a leaky roof or blown-out window. Keep receipts for any supplies you buy, as your insurer may reimburse you later.

Frequently asked questions

Does Travelers homeowners insurance cover theft?

Yes, you are covered for theft of your belongings, no only when they’re in your home, but also when they’re in your car or anywhere else you might take them, like a hotel room. Learn more about what is and isn’t covered by your homeowners insurance policy.

Does Travelers insurance cover mobile homes?

No. To find companies that do, see NerdWallet’s guide to mobile home insurance.

What other types of insurance does Travelers offer?

Travelers sells a range of policies, including car, renters, condo, umbrella, boat, travel, pet and landlord insurance. Check out VanQuangBlog’s Travelers auto insurance review and Travelers renters insurance review for more details.

Homeowners insurance ratings methodology

Vanquangblog’s homeowners insurance ratings reward companies for customer-first features and methods. The ratings are based on weighted average scores in several categories, including financial strength, consumer complaints, averages, discounts, online experience and more. My “easy to use” category considers factors like website transparency and how easy it is to submit requests. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best one for you. vanquangblog does not accept compensation for any reviews.

Methodology: Insurer complaints

vanquangblog examined claims received by state insurance regulators and reported to the National Association of Insurance Commissioners for 2018-2020. To gauge how insurers compare to each other, the NAIC calculates a claims index each year for each subsidiary, measuring the ratio of its total claims relative to its size, or the ratio of its total premiums. industry insurance. To assess a company’s claim history, vanquangblog calculated a similar index for each insurer, based on each subsidiary’s market share, over a three-year period. Rates are determined separately for auto, home (including renters and apartments), and life insurance.

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