Highly customizable coverage to protect your most important investment: your home
All travelers must eventually return home. And all travelers want to make sure that their home is protected from all perils and dangers, and to rest easy knowing that should the worst happen, they’ll be made whole again. You know who can do that? Travelers.
No, I don’t mean the buddies you spent a month backpacking through Peru with; I mean Travelers homeowners insurance. Travelers has been providing insurance for 165 years,1 and during that time, they’ve come to be one of the most well-trusted names in the industry.
But should you trust them to protect the fort? To answer that, I spent days digging into their policies and protections, and learning what it’s going to cost you. I’m covering it all here, but let’s first take a look at how Travelers ensures your home will be protected from anything life throws your way.
Pro Tip: Turn back now, traveler, if you live in Hawaii, Alaska, Louisiana, Florida, or West Virginia. Travelers homeowners insurance isn’t available in those states. A good place to start your search would be our list of the 10 best homeowners insurance providers of 2022.
As one of the biggest names in the insurance industry, it’s no surprise that Travelers’ homeowners insurance policies are comprehensive. There’s more about these coverages in my in-depth Travelers review, but I’ll give you the Cliff’s Notes version here. A typical Travelers homeowners insurance policy includes:
Pro Tip: When you’re shopping for homeowners insurance, make sure your dwelling coverage is for the amount it would cost to rebuild your home today, not the price you bought it for.
When you’re shopping around for homeowners insurance providers — and I do recommend you shop around — you’re going to find that these coverages are all pretty standard across the board. However, where Travelers really stands out is the customizability of their standard packages and the additional coverages you can tack on to them. Let’s take a look at those.
One of my favorite things about Travelers is the various additional coverages you can purchase on top of your standard coverages. This allows you to customize your homeowners insurance policy, ensuring that you’re covering exactly what you need and nothing else. Some of these additional coverages include:
Pretty interesting stuff that goes beyond your run-of-the-mill homeowners insurance, huh? If this piques your interest, I definitely recommend heading over to Travelers’ online quote tool and taking a look for yourself. You might be surprised at how easy it is to tailor your coverages to your exact specifications.
And speaking of quotes, let’s get down to the big question: How much does Travelers homeowners insurance cost?
I’ll break it all down in just a bit, but the short answer is a little bit more than average — at least, that’s what I found myself, as well as in my research.
The Travelers policy recommended to me for a $350,000 home in Atlanta cost $114 per month, or $1,373 annually. Here’s what that coverage looked like:
|Other Structures||10% of Dwelling|
|Personal Property||50% of Dwelling|
|Loss of Use||20% of Dwelling|
|All Peril Deductible||$1,000|
|Additional Replacement Cost Protection||25% of Dwelling|
|Loss Assessment Coverage||$5,000|
Like I saw in my Geico homeowners insurance review, I wasn’t completely satisfied with the recommended coverages, so I tweaked them a little by boosting my dwelling coverage limit from $280,000 to $350,000, increasing the medical coverage, and adding identity theft protection. Once everything was said and done, my premium was $137 per month.
pro-tip: Travelers offers “basic” and “better” packages. Be sure to toggle between the two to see the differences between the premiums as well as the differences in the coverages.
Now this certainly isn’t the most expensive coverage I’ve seen — that would go to Farmers, which, to be fair, offers some of the best protection out there — but it certainly isn’t the most affordable, either. For a better understanding of exactly how these rates break down, let’s go to the chart.
Now keep in mind that it’s very difficult to nail down an average premium for homeowners insurance. There are a ton of factors involved in determining the price, from the value of your home to where it’s located to the types of coverage included.3
However, by compiling my own data and quotes from across the internet, I’ve come up with this chart to give you a basic idea of where some of the major providers fall on the scale. Here’s the breakdown:
|Provider||Estimated Monthly Rate|
Your experience might be different, but Travelers tends to be one of the pricier providers in my experience.
Pro Tip: When you’re shopping around, keep in mind the average homeowners insurance policy costs about $110 per month. Unless your circumstances are significantly above or below baseline, you shouldn’t be spending a lot more or a lot less than that.
That said, Travelers offers a few ways select customers can save on their premiums. Let’s take a quick look at those now.
Like most major providers, Travelers wants to reward their most valuable customers by knocking a few bucks off their premiums. Here are the best ways to save on your Travelers homeowners insurance policy:
Pro Tip: Are you a member of the U.S. armed services? You might consider checking out my USAA review. They offer great coverage for our nation’s heroes.
That last one is important. Most providers offer some sort of bundling discount, so it’s important to think about your insurance needs holistically. If you need to cover more than just your home, take this money-saving tactic into consideration.
As you’d expect from an insurance provider that’s been around for over a century and a half, Travelers offers quite a few types of protections. These include:
So that’s about all there is to know about Travelers’ homeowners insurance services and pricing. One question remains, though. Are they worth it?
Like I said above, Travelers tends to be on the pricier side of the spectrum, but not so pricey that I’d consider it unaffordable. For the customizability and the additional coverages available, I think they might be worth the few extra bucks a month.
That said, if you’re working with a budget, you might be better off checking out one of the more budget-friendly options out there, like Allstate. While you won’t have as much control over what you’re getting, and the coverage might not be as comprehensive, you’ll notice a difference in the bottom line at the end of the year.
If you’re still a little confused, though, you might consider heading over to our homeowners insurance buyers guide. There you’re going to find everything you need to know to set you on the right path.
Travelers homeowners insurance is available in 45 states and Washington, D.C. It is not available in Hawaii, Alaska, Florida, Louisiana, and West Virginia.
While Travelers isn’t the most affordable provider out there, it’s certainly not the most expensive, either.
Travelers is consistently rated highly by both credit rating agencies and customers.
The National Association of Insurance Commissioners says that Travelers insurance has fewer complaints than would be expected from a provider its size.
You can file a claim with Travelers on their website, using their mobile app, or by calling 1-800-CLAIM-33.
Zippia. (2022). THE TRAVELERS COMPANIES.
Kuadli, Jennifer. (2021, Jan 6). 15 Insane Identity Theft Statistics to Keep in Mind in 2022. LegalJobs.
Coleman, Sara. (2021, Oct 1). Preliminary Semiannual Uniform Crime Report, January–June, 2019. Bankrate.