With the cost of just about everything skyrocketing, it’s easy to see why many people are looking for a cheaper alternative to auto insurance. However, many think that auto insurance falls into the “you get what you pay for” category. After all, few things are more stressful than getting into a car accident and then discovering that your auto insurance doesn’t cover damage or medical expenses. Traveler insurance is a budget-friendly option, but is it worth the money?
The benefits of traveler insurance
According to CNETTravelers Insurance has been around for over 165 years and has quite a few positive features to offer. First and foremost is the price.
The average premium for a year of full Travelers coverage is $1,447. That’s about $325 cheaper than the national average for full-coverage insurance. With the prices of fuel, cars and just about anything else hitting record highs, substantial savings is a big plus!
Travelers Insurance also offers a handful of coverages and options that some insurance companies typically don’t offer. First, Travelers offers a GAP insurance plan to help pay off your car loan in the event of an accident. In addition, the company has an accident forgiveness program that forgives an accident and minor traffic violation every three years of enrollment. So if you have an accident or something like a simple motion violation, your insurance rate will not increase.
In addition, Travelers offers numerous discounts on its premiums for different circumstances. Bundling with homeowners insurance, being a safe driver, and driving a hybrid or electric car can all get you great rates with Travelers. In addition, there are discounts for good students, having a new car, insuring multiple cars and continuous insurance.
Finally, Travelers has a bit of a unique option for insurance drivers. This means that drivers for services like Uber and Lyft have special policies available through Travelers. However, these policies are only available in Colorado and Illinois.
Disadvantages of having traveler insurance
Unfortunately Travelers does not insure drivers in every state. Unfortunately, if you live in Alaska, Louisiana, Michigan, South Dakota, West Virginia, Wyoming, Hawaii, or North Dakota, the company cannot provide you with a policy.
In addition, while Travelers is an affordable option, many users of the company’s services report poor customer service experiences. JD Power has conducted surveys to get an overview of customer satisfaction across various insurance companies. Overall, Travelers received low customer reviews in many categories. These include overall satisfaction, digital service and the automatic claims process.
So it seems that while it’s a more affordable option, the customer service might be a bit questionable. That’s especially unfortunate in terms of car claims, because waiting for an insurance company to play the ball after an accident and you have a broken down car is never a fun experience.
On the contrary, according to data from the National Association of Insurance Commissioners, the company ranks below average for general complaints. In addition, AM Best gives the company an overall A++ rating. So hopefully the respondents who gave negative reviews belong to the minority sector with problematic experiences with the company.
Travelers might be the answer for you!
In general, as is generally the case, it is best to shop around and get quotes from various insurance companies when you want to insure a vehicle. Travelers do have some negative comments. However, it seems that it is generally a pretty safe business to buy insurance through.
When you receive a quote, be sure to receive all applicable discounts! After all, you don’t want to wash away any of your savings by missing out on something simple!
RELATED: Here’s Why You Should Have Full Coverage Insurance for Every Car
