Travelers Home Insurance Review: Flexible Coverage Options and a Variety of Discounts

GOBankingRates Score

4.8
Our take: Travelers is a well-established insurance company that has been in operation for over 165 years. It offers flexible home insurance solutions with many possible discounts and excellent customer support.
  • Coverage Options
    5.0
  • Possible Discounts
    5.0
  • Customer Support
    5.0
  • Availability
    4.0
How did we calculate this?

Pros

  • Getting a quote online is quick and easy.
  • Travelers has many flexible coverage options.
  • There are lots of possible ways to save and earn discounts.
  • The company provides thought leadership and insights to help manage risks.
  • There is a customer advocacy call center available 24 hours a day to help you.

Cons

  • Travelers home insurance is not available in all states.

About Travelers Home Insurance

Travelers is an insurance company that has been around for more than 165 years and provides insurance solutions for individuals and businesses. The company has over 30,000 employees plus 13,500 independent agents and brokers working in the United States, Canada, the United Kingdom and Ireland.

Travelers homeowners insurance is one of many insurance products the company sells. This insurance product covers any expenses for repairs or replacing your home or belongings in the house.

States Where Travelers Home Insurance Is Offered

Travelers home insurance is offered in every U.S. state except Alaska, Florida, Hawaii, Louisiana and West Virginia.

What Does It Cover?

Home insurance protects both your home and your belongings if they are lost or damaged. Travelers home insurance covers threats such as:

  • Theft
  • Vandalism
  • Fire
  • Windstorms
  • Hail
  • Weight of ice, snow or sleet
  • Lightning
  • Freezing of HVAC equipment

Home insurance typically has multiple types of coverage, limits and deductibles.

Dwelling Coverage

This vital coverage covers the costs required to repair or rebuild the home’s physical structure in the event of threats like fires, severe weather or theft. Your particular coverage limits are based on the estimated cost of rebuilding the home. Such costs would take into account upgrades or home improvements that you may have added to your home.

Other Structures Coverage

This coverage type protects other structures on your property, such as exterior garages, sheds or fences.

Personal Property Coverage

Personal property coverage protects your belongings, including things like furniture, electronics, clothing and sporting goods. Some personal property policies will cover personal belongings anywhere in the world, not just at home.

Travelers will cover personal property losses based on the actual cash value at the time of loss, which is the reasonable repair or replacement cost minus depreciation. The company does have an option for replacement cost, which will pay out based on the current market price to replace the item.

Loss of Use Coverage

This kind of coverage protects you if you cannot stay in your home while repairs are underway. Also known as additional living expenses coverage, this will cover other reasonable housing and living expenses. Typical examples are temporary housing, like a hotel, public transportation, pet boarding or reasonable food expenses.

In addition, Travelers will pay you the fair market rental value for any loss of rental income due to covered losses to your rental property. It’s important to note that this coverage does not pay you for expenses you were already responsible for, such as your mortgage or insurance; this coverage protects you from additional costs.

Personal Liability Coverage

Personal liability coverage protects you financially if there are claims of bodily injury or property damage that you or someone else in your home are legally responsible for. Travelers policies typically cover claims such as medical bills from a visitor’s injury, legal expenses and bodily injury or property damage resulting from negligence from you or even your pets.

Additional Coverages

Travelers homeowners insurance policies are flexible, and you can add any of the following coverages to your policy:

  • Special coverage for personal property
  • Personal property replacement cost coverage
  • Additional replacement cost protection coverage
  • Jewelry and valuable items
  • Personal articles floater
  • Water backup and sump pump discharge or overflow
  • Identity fraud
  • Green home coverage

Types of Discounts

Travelers offers a variety of ways to save on homeowners insurance. Here’s a look at discounts that are available.

  • Multipolicy Discount
    Travelers is currently offering a discount if you bundle multiple types of insurance policies together. For example, by bundling your car and home insurance policies, you could save up to 10% on car insurance.
  • Protective Device Discount
    This discount lets you save by having devices such as smoke detectors, fire alarms, interior sprinkler systems, home security systems or smart home technology.
  • Green Home Discount
    Travelers will also give you a 5% discount if your home is a certified “green home” by the Leadership in Energy and Environmental Design organization.
  • Homebuyer Discount
    You could take advantage of the homebuyer discount if you’ve purchased your home within 12 months.
  • Loss-Free Discount
    Eligible customers who haven’t experienced a loss within a certain period may qualify for additional discounts.

Customer Experience

The Travelers website is well organized and easy to use. The company offers insights and a page on frequently asked questions for easy self-service on the website. In addition, there is the MyTravelers app, available on iOS and Android, for more self-service options to pay your bill, file and track claims and more.

If you need more personalized help, the company has several phone numbers you can call to get quotes, get help with billing or policy service questions, report a claim, check a claim’s status, or get technical or roadside assistance. You can also send requests via email.

In addition, the company offers a customer advocacy service available to help you 24 hours a day.

FAQ on Travelers Home Insurance

Here are the answers to some commonly asked questions about Travelers home insurance.
  • What does home insurance cover?
    • Typical home insurance covers the structure of your home, other structures like sheds, personal belongings, additional living expenses, personal liability and legal fees, plus options for extra coverage for things like valuable items.
  • How much dwelling coverage do I need?
    • A licensed insurance agent can help you identify precisely how much coverage you need, but generally, your coverage will be determined by the estimated cost to rebuild your home.
  • What discounts are available?
    • Travelers offers several discount options for you, including bundling multiple policies, security systems or fire protection devices, smart home technologies, "green home" certification, loss-free history and more.
  • What is a deductible?
    • The deductible is the amount of the claim that is your responsibility to pay. The amount of the deductible varies based on the policy. For example, if your deductible is $500, you will pay the first $500 of your covered claim.

About the Author

Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance. After earning his bachelor’s in Management Information Systems with a minor in Business, Scott spent 15 years working in technology. He's helped startups to Fortune 100 companies bring software products to life. When he's not writing or building software, Scott can be found reading or spending time outside with his kids.

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