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Read through the Travelers home insurance reviews on this page to decide if Travelers is the best home insurer for you. Travelers Homeowners Insurance is available in every state of the United States as well as in Canada, Ireland, and the United Kingdom.
Travelers currently holds the top position in nine states and overall holds its position as top five in 49 states. Travelers Homeowners Insurance is only below the top 5 position in two states, Alaska and Hawaii. With approximately $110 billion in total assets, Travelers Homeowners Insurance, as part of Travelers Insurance, is listed number 99 out of the Fortune 500.
Continue reading through this Travelers home insurance review, browse through the customer reviews of Travelers homeowners insurance below, and then enter your zip in on the side of the page to compare free home insurance quotes.
Travelers had it beginning in 1853 as St. Paul Fire & Marine Insurance Company, which was started by seventeen businessmen in Saint Paul, Minnesota. Then in 1864, The Travelers Insurance Company was formed by ten people to cover passengers traveling by railway or steamboat. The policy was to protect against personal injury or loss of life. In 2004, St. Paul Travelers merged out of The Saint Paul and Travelers Property Casualty and then in 2007 the company consolidated under Travelers. Travelers and its operating companies maintain A- to A+ ratings from A.M. Best, AA ratings from Fitch, Aa2 from Moody’s, and AA- from Standard & Poor’s.
Travelers Homeowners Insurance offers comprehensive coverage that includes your home, detached structures, personal belongings, loss of use and personal liability. Detached structures would include things such as a garage or shed and personal belongings include appliances, clothing, and furniture. If your home becomes damaged and is uninhabitable, loss of use will cover your living expenses while your home is being repaired. This type of overage would typically include basic hotel costs but could also cover additional mileage incurred because of location change (for example, if you have to drive further to go to work because of your new location).
If your home has water damage and requires commercial dehumidifiers and air movers running continuously for a few days, you are bound to see an increase in your electric bill. Check with your insurance agent, as the increased cost for the electric may also be covered. Personal Liability Coverage is insurance to protect you against claims or lawsuits in the event that a visitor becomes injured or his property becomes damaged while visiting your home. Personal liability does not pertain to your own injuries; for that you need health insurance coverage or medical coverage.
Additional coverage offered by Travelers includes Contents Replacement for the full replacement cost instead of the depreciated value for any of your belongings. Depending on your current policy you may want to consider Additional Replacement Cost Protection which would close the gap between what your insurance policy covers and the actual amount needed to rebuild your home in the unfortunate event of catastrophe. If you have valuable items stored in your home such as artwork, coins, computers, or jewelry, you may want to purchase Valuable Items Plus Endorsement because the standard homeowners insurance policy is not usually enough to replace items of extreme value. Furthermore, you can choose to schedule specific items under the Personal Articles Floater policy on items that exceed the value limits on the Valuable Items Plus Endorsement policy.
Further optional policies include Personal Injury in case you are a victim of defamation or slander and Identity Theft Protection covers some of your financial expenses in case you are the victim of identity theft. An umbrella policy for additional liability protection can be purchased for $1 million dollars in coverage or for $5 million dollars in coverage. Since floods are not covered under standard homeowners insurance, Flood Coverage would pay for damage and subsequent cleanup in the event of a flood. If you own a small watercraft you can also purchase Pleasure Boat Insurance.
Discounts are available for new or renovated homes as well as homes that are equipped with alarm systems, dead bolts, fire extinguishers, and smoke detectors. In most states, policy holders can receive a discount for not having any claims. As with many insurance providers, Travelers offers a discount in most states for having both your auto and your home insured with them. If you don’t already have a multi-policy discount or to get free quotes from companies that offer discounts, enter your zip code in the quote tool provided.
Travelers Renters Policy covers appliances, clothing, furniture, personal belongings and personal liability. Similar to homeowners insurance, additional coverage is available for Contents Replacement, Flood Coverage, Identity Theft Protection, Personal Articles Floater, Personal Injury, Pleasure Boat Insurance, Umbrella Policy, and Valuable Items Plus Endorsement. Renters can receive discounts in most states for being claim free. Security discounts are also applicable for alarm systems, dead bolts, fire extinguishers, and smoke detectors.
Condo Insurance has the same coverage as the Renters Insurance for Travelers, but it also includes a Cost of Common Property Loss. A claim for this would be assessed by the condo association and the loss amount would be the same for all of the condo owners in that building. The same discounts available to renters apply to condo insurance policyholders as well.
Whether you own or rent your home, homeowners insurance is a relatively low cost necessity to protect one of your largest assets. You should annually review your coverage to be sure it still meets your needs. During your annual review or if your home or belongings have appreciated, it is a good time to shop for insurance rates. Once you have finished browsing through the homeowners insurance reviews then use the rate tool above, offered at no fee, to get quotes from several providers. Simply enter your zip code now, and you’ll soon have the data you need to compare your Travelers homeowners insurance quotes with quotes from other top companies.
