Travelers Renters Insurance at a Glance
Travelers State Availability
Travelers has roughly 13,500 impartial brokers and brokers within the United States, the United Kingdom, Canada and Ireland. Travelers affords renters insurance coverage in 45 states and Washington, D.C. Travelers doesn’t promote renters insurance coverage in Alaska, Florida, Louisiana, West Virginia or Hawaii.
Cost of Travelers Renters Insurance
The nationwide common charge for Travelers renters insurance coverage is between $14 and $21 monthly, which is according to many different renters insurance coverage firms.
However, insurance coverage charges range by state and particular person dangers. Customers can cut back their premiums by bundling their renters insurance coverage and automobile insurance coverage or by qualifying for different reductions.
Factors that affect the cost of renters insurance coverage embody:
- Location. If you reside in an space with excessive crime or extra frequent pure disasters, you’ll sometimes pay greater charges for insurance coverage protection.
- Age and building. Older houses could have outdated techniques which might be extra prone to trigger a loss. Homes manufactured from supplies which might be simpler to break or which might be in poor situation have a better danger of extreme losses. Expect to pay greater charges when the home you hire is older or constructed with low-grade supplies.
- Coverage limits and add-ons. If you want protection past what an insurance coverage firm affords in its commonplace bundle, your premium will go up.
- Deductible. If you choose a better deductible in your renters insurance coverage coverage, your premiums might be decrease as a result of the insurance coverage firm pays much less for every declare you submit.
- Individual dangers. Risks distinctive to you, comparable to your age, claims historical past, pets, habits, credit score rating, and different components could affect the cost of your insurance coverage.
Cost of Travelers Renters Insurance by State
Travelers Discounts
You can cut back the cost of your renters insurance coverage premiums by qualifying for a number of insurance coverage reductions. For instance, it can save you as much as 5% by bundling renters insurance coverage protection along with your auto insurance coverage coverage. Discount availability varies by state. More reductions embody:
- Multiple insurance policies
- Security techniques
- Fire protecting units
- Smart home applied sciences
- Loss-free historical past
- Good payer
To decide the precise quantity it can save you, request a quote from an impartial agent or on-line.
Some reductions, such because the on-time fee or multi-policy low cost, apply robotically when you qualify for them. Discounts, such because the protecting system low cost, could require proof that you simply qualify, comparable to an bill displaying you put in a home safety system or smoke detectors or that your rental has a sprinkler system.
On the pattern quote we requested, we obtained a $173 off on annual premiums for loss-free historical past, a great payer and hearth protecting reductions.
Travelers Policy Coverage
Standard protection on a Travelers renters insurance coverage coverage supplies the next sorts of protection:
- Personal property protection: Personal property protection can exchange or restore worthwhile objects that you simply personal if a coated explanation for loss, comparable to vandalism, damages or destroys them. Most Travelers renters insurance policies settle private property claims at precise money worth, which is the alternative cost of the property much less a deduction for depreciation.
- Housing enhancements: A regular Travelers renters insurance coverage coverage will cowl as much as 10% of a renter’s private property protection to restore or exchange enhancements {that a} renter both made or paid for and have been subsequently broken.
- Personal legal responsibility: If you’re sued for an harm that occurred in your rental, private legal responsibility protection helps cowl authorized charges and damages. The commonplace coverage supplies $100,000 in private legal responsibility protection.
- Medical funds to others: If somebody will get harm in your property, medical funds to others protection pays for his or her mandatory medical payments. The commonplace protection quantity is $1,000.
Additional Coverage
Customize your coverage with this non-obligatory protection:
- Contents alternative cost: This upgraded protection adjustments the way in which Travelers pays for private property losses. With alternative cost protection, it pays for the cost of your coated merchandise with none deduction for depreciation. Special limits apply to particular objects like jewellery and silverware.
- Valuable objects insurance coverage: Standard private property protection has limits for sure objects like valuables. This rider covers particular property like jewellery, artwork, musical devices and computer systems for an prolonged number of losses. You also can improve your protection limits for private property to cowl these things. No appraisal or itemizing of insured objects is critical.
Travelers Renters Insurance Reviews
Travelers depends on a community of impartial brokers, so the standard of the customer support you obtain could range by location. Travelers has an A ranking from the Better Business Bureau, which suggests it does a suitable job at responding to buyer complaints. Still, its buyer satisfaction ranking is concerningly low, at 1.03 out of 5.00 on the time of this writing.
Trustpilot reviewers charge Travelers barely greater at 2.4 out of 5.0 stars based mostly on restricted evaluations. Most of the revealed evaluations are for Travelers auto insurance coverage, Travelers home insurance coverage and different Travelers insurance coverage merchandise.
Customer complaints embody claims that representatives supplied incorrect details about protection, poor communication, unfair cancellation insurance policies and unsatisfactory claims service.
“Travelers has decided to cancel our insurance, because of the dog that we have. There have been no incidents with the dog and we have filed no claims in the year we have had them as our insurance carrier.” —Brandon U. by way of BBB
“This company is a complete joke! I lost everything due to water damage and this renters insurance has yet to call me back, let alone pay for any of my losses! Dealing with Jesse from Travelers has been nothing but a waste of my time! It’s currently August. I’ve been waiting since May!” —Patricia S. by way of BBB
The Bottom Line
Travelers is a big, secure insurance coverage firm with stable monetary power that receives few insurance coverage division complaints from prospects. Travelers’ renters insurance coverage insurance policies are extremely customizable with distinctive protection choices, comparable to reducing deductibles, and worthwhile reductions, comparable to bundling renters insurance coverage with Travelers automobile insurance coverage. However, regardless of the corporate’s low grievance charge, on-line evaluations from prospects are largely damaging, specializing in poor communication, gradual service, misinformation and billing points.
Because Travelers depends on impartial brokers, it could be sensible to analyze evaluations of your native Travelers insurance coverage agent earlier than deciding to buy a coverage. If Travelers doesn’t look like the best choice for you, think about acquiring insurance coverage quotes from our high renters insurance coverage suppliers.
We advocate Lemonade for faculty college students and Allstate for seniors. State Farm affords reasonably priced premiums and American Family supplies wonderful customer support. GEICO is one among our high picks for simple coverage administration.