Travelers auto insurance is No. 1 in Insure.com’s Best Car Insurance Companies ranking for 2024 with 4.62 stars out of 5. Customers grade it highly for ease of service and the company has the highest possible AM Best score of A++, a sign of financial stability.
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Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at Insurance.com.
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Travelers took the top spot in the Insure.com 2024 Best Insurance Companies auto insurance ranking among national carriers. In a survey of insurance customers conducted as part of the ranking, Insure.com found that Travelers scored well for ease of service and home/auto bundling and was highly recommended by its customers. It also has the highest possible AM Best score of A++, a sign of financial stability, and a low complaint volume.
In addition, Travelers has cheaper rates than many competitors, helping it earn a spot as one of Insure.com’s top picks for auto insurance in 2024 with 4.62 stars out of 5.
Below is Insure.com’s review of the company. It’s based on third-party metrics and an in-depth survey of insurance customers. Find the full methodology here, including an explanation of our survey scores.
AM Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.
Travelers has cheaper rates than many other ranked companies, coming in fourth at $132 per month on average. It comes in behind Erie, the cheapest company at $123, and Nationwide and Auto-Owners at $129.
Seven in 10 Travelers customers graded it highly for customer satisfaction. Erie scored 90% for customer satisfaction, the top score, followed by American Family at 89% and State Farm and Farmers at 84%.
Eighty-six percent of customers were pleased with the company’s ease of service, saying they are either satisfied or highly satisfied. The company was ranked second, in a tie with State Farms, in this category, which belonged to Erie. Most companies in our ranking, including Travelers, were in the 70th to 80th percentile range.
Sixty-seven percent of customers surveyed said they were satisfied or highly satisfied with the company’s policy offerings. Erie won this category at 88%, and American Family ranked second at 87%.
Customers would overwhelmingly recommend Travelers to their friends and relatives. Eighty-six percent of Travelers customers said they’d tell others about the company, which is a solid score. Erie won this category with an impressive 100%, while State Farm came in second at 92%, followed by Progressive and American Family at 91%.
Customers find Travelers to be a trustworthy auto insurance company. In the survey, 74% of customers said they trusted the company. Erie topped this category with a score of 86%.
Most of the Travelers customers in our survey said they plan to renew their auto insurance. Travelers’ 90% score was high, although Erie topped this category, with 100% of customers planning to renew.
Three out of four Travelers customers rated it highly for claims handling. Allstate came in first among ranked companies, at 86%, with State Farm in second, at 85%.
Travelers ranked in the middle for this category with a score of 48%. The top scorer was Geico, with 64%, followed by CSAA and Progressive at 60%. However, it should be noted that most of the companies we ranked didn’t do well in this category.
Travelers scored about average for discounts at 60%. Auto Club of Southern California won the discounts category with a score of 70%, with Auto Club Group, Erie and Progressive tied for second at 69%.
Auto and home bundling was one of Travelers’ best categories. The company scored third for bundling home and auto with 62% of its customers giving it high marks in this category – better than competitors such as Allstate and Geico. The top scorer in this category was Erie (69%), followed by American Family (66%).
Travelers is one of the largest insurance companies in America. The company has more than 30,000 employees and has offices in all 50 states and operations in Europe, Asia and South America. Originally founded in Minnesota, Travelers is now headquartered in New York.
Sources:
Travelers. “Car insurance discounts.” Accessed February 2024.
Travelers “Personal insurance: auto, home, and more.” Accessed February 2024.
Travelers. “Types of car insurance coverage.” Accessed February 2024.
Insure.com in the fall of 2023 surveyed more than 1,750 insurance consumers (1,459 people with auto insurance). Online market research company Slice MR conducted the survey. Respondents were asked to name their auto insurer and then grade it in the following categories – customer satisfaction, ease of service and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.
Respondents were then asked to pick their insurer’s top three attributes out of more than a dozen presented – trustworthiness, claims satisfaction, digital experience, discounts and best for auto/home bundling. The responses for each attribute were totaled and then divided by the number of each company’s customers who responded to that survey question to create a percentage.
Respondents were then asked if they would recommend their auto insurer to someone else and whether they would renew with their company. The percentage who said yes is presented in the results.
Finally, respondents were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.
The editors compiled the survey results and then selected – based on the number of survey responses – the top companies for further evaluation.
They then collected AM Best data, which measures financial strength, and National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives. The Insure.com team identified the NAIC company code or codes that were the primary underwriting companies for each carrier and line of business using total annual premiums. The associated NAIC complaint index score was used in the calculations. If more than one underwriting company was identified for a line, the editors used a weighted average of the NAIC complaint index scores.
In addition, we also created star rankings for each company. Respondents were asked to pick their insurer’s top three attributes out of the more than the dozen presented, again including customer satisfaction and policy offerings. The number of responses for each attribute was totaled and then divided by the number of each company’s customers who responded to that survey question to create the star ranking.
The editors also collected insurance rate data from Quadrant Information Services.
With the help of Prof. David Marlett, Ph.D., Managing Director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For auto insurers, we took the following and gave each a weight.
Each insurer was awarded from half a star to 5 stars. No insurer in our star ranking received less than half a star and 5 stars was the most any insurer could receive.