Purchasing insurance through a Travelers agent is one of the best ways to save money. Insurance agents can negotiate lower premiums and other discounts with underwriters. They can also offer better terms for customers than Travelers does. But before making your final decision, it is best to know about Travelers’ rates and coverage.
Rates
Several factors determine rates of travelers insurance. Age is the primary factor, so older travelers can expect to pay higher premiums. However, if a traveler travels with a minor, they may be able to add the child to the policy at no additional cost or a reduced rate.
Coverage
The National Association of Insurance Commissioners has a consumer complaint index that tracks consumer complaints against insurance companies. Travelers rank just below average in this index, with 44% of its customers stating that their experience with the company was excellent. In addition, the company received a slightly below-average score in the Best Insurer for Customer Service study.
In a recent study, J.D. Power gave Travelers an average rating in customer satisfaction, while its claims satisfaction scores were slightly below average. Despite this, Travelers maintains excellent financial standing and has relatively few complaints.
Customer service
Travelers have underwhelming customer service. The company has below-average ratings in the J.D. Power survey for ease of contact and satisfaction with the auto claims process. However, this doesn’t mean that the company’s service is terrible. This insurance rating is based on feedback from real customers.
Despite its poor customer service, Travelers has a solid financial standing. In a recent study by J.D. Power, it received an A++ rating, indicating superior financial stability. In addition, travelers offer a wide range of insurance products, including car and home insurance. While the insurance company has unimpressive customer service, you can still save money by getting multiple insurance policies from the company.
Discounts
You can save on your premiums by enrolling in a multi-car discount if you have multiple cars. You can also get a discount if you enroll in a driver’s education course. Students attending college who do not drive can also take advantage of a good student discount. These discounts can save you anywhere from ten to twenty percent.
Discounts on Travelers Insurance are easy to qualify for, too. You can get discounts for paying your insurance online, paying in advance, and paying on time. Besides, the company offers discounts for safety devices installed in your home, such as a security system.
Investment portfolio
The Investment portfolio for Traveler’s Insurance rating is essential to the insurer’s finances. The company invests in private equity and real estate to boost its earnings. In addition, Travelers consistently deposits excess premiums into its portfolio to fund claims and growth. This helps to cushion the impact of increasing catastrophe-related claims.
Although the last year’s financial results may seem dismal, the company has a long and stable track record of core profitability. Its investment portfolio has historically exhibited high-quality returns and is highly liquid. As a result, the company has substantial capital and liquidity, which helps it maintain its rating.
Financial strength
Travelers is a US-based P&C insurance company. Its ratings reflect its market dominance in U.S. commercial and personal insurance, strong distribution through independent agencies, and disciplined underwriting. The company has consistently delivered healthy operating returns and a low-to-mid-90s combined ratio. The company also maintains substantial capital and liquidity levels and is well diversified. It offers a variety of products and services, including auto and homeowners insurance. In addition, it offers specialized programs and services, such as wedding and life insurance, identity fraud protection, and flood insurance.
Travelers have a high financial strength rating and endorsements from leading credit rating agencies. It also has an excellent NAIC rating, a sign of positive customer feedback. Travelers also offer a comprehensive range of insurance policies and discounts for bundling multiple policies.
