Travelers Renters Insurance Review of 2023

Read a complete review of Travelers renters insurance, with details about average prices, discounts, coverage options, ratings, and more.
Travelers Renters Insurance
Editors star rating review
Editor's Rating (4 Stars out of 5)

Travelers Renters Insurance Pros & Cons

  • Easy-to-navigate website with live chat
  • Automatically includes coverage for upgrades you’ve made
  • Valuable items insurance provides extra protection for high-value items like fine art, jewelry, and computers
  • Prices are substantially higher than top competitors
  • Placed lowest for renters insurance customer satisfaction in J.D. Powers home insurance study

Travelers renters insurance is well worth considering if you’re a renter concerned about losing all of your valuable possessions due to burglary, vandalism, fire, or other unforeseen events.

Travelers is one of the most respected names in the insurance industry and is synonymous with quality protection for policyholders. Though its renters insurance is among the most expensive you’ll find, the quality of the coverage and the company that stands behind it rank among the highest you’ll find.

About Travelers and the Company’s History

The Travelers Companies, more commonly referred to as Travelers, is based in New York, NY. It is the second-largest provider of commercial property insurance in the U.S. and the sixth-largest personal insurance carrier in the country. It sells its policies through a network of independent insurance agents in 45 states and the District of Columbia.

Travelers was founded in 1863 in Hartford, Connecticut by James Batterson, a prominent stone contractor in the city. His initial exposure to accident insurance for travelers was in 1859 while traveling in England. His railway ticket included accidental death coverage. Inspired by this type of insurance, he raised $500,000 in capital to launch a new company to provide accident insurance to American travelers. That same company today is known as Travelers.

Policies and Coverage

While Travelers renters insurance doesn’t offer anything unique among the companies we reviewed, its coverage provides industry-standard protection that every renter needs, including coverage for:

  • Personal property: this covers your belongings such as clothing, electronics, furniture, jewelry, artwork, and other items. It covers damage or loss due to fire, smoke, water damage (not floods), explosions, damage due to the weight of ice and snow, falling objects, theft, and vandalism.
  • Liability: pays for property damage and injuries you accidentally cause to others, including legal settlements and judgments against you, up to your policy’s liability limit. It also pays for your legal expenses if you are sued because of an accident, such as your dog biting someone.
  • Medical payments: pays for smaller medical bills if someone else is injured while visiting you, no matter who is at fault. For example, if a guest slips in your bathtub and suffers a minor injury, your medical payments coverage could pay their medical bills up to your policy’s limits. Medical payments coverage is usually sold in smaller amounts, such as $1,000 of coverage.
  • Additional living expenses: if the home or apartment you’re renting becomes damaged to the point where you can’t live in it while repairs are being made, additional living expenses coverage can reimburse you for extra expenses like hotel bills and meals.

In addition to the standard coverage described above, Travelers has some additional options that can be added to its renters policy, including:

  • Valuable items insurance: this option lets you add higher policy limits to valuable items, such as computers, jewelry, fine art, and musical instruments.
  • Housing improvements coverage: allows you to apply a percentage of your personal property coverage to replace or repair damage to improvements you paid for if they are damaged due to a cause covered by your policy.

Travelers Insurance Coverage Limits

Similar to homeowners insurance, Travelers renters insurance has coverage limits that are stated in your policy:

  • Personal property: as the insured, you determine the value of your property and choose the amount of protection you need. Typical personal property limits chosen are $15,000, $30,000, and $50,000.
  • Personal liability coverage: $100,000 of personal liability coverage is standard. However, higher amounts of coverage are available.
  • Medical payments: covers up to $1,000 per person for guests who are injured while visiting you. Higher amounts of coverage are available.
  • Housing improvements: you can apply up to 10% of your personal property coverage to replace or repair improvements you’ve made, such as draperies or custom shelving you’ve paid for.

Travelers Insurance Discounts

In addition to increasing your deductible or lowering your coverage limits on your renters insurance, Travelers offers several discounts which can help you save money:

  • Multi-policy discount: you can save up to 5% on your Travelers car insurance if you bundle it with your renters insurance policy. Other types of insurance you can bundle with Travelers are umbrella insurance, boat insurance, or a personal articles floater.
  • Loss-free discount: going without a renters insurance claim for a specified period will qualify you for a discount.
  • Protective device discount: if your apartment or home has protective devices like a home security system, interior sprinkler system, or connected or smart technology that alerts you to a break-in or fire, you can receive a discount.
How is Travelers Renters Insurance Rated?
J.D. Power (out of 1,000)801
A.M. Best - Financial Strength RatingA++
NAIC Complaint Index3.88

Customer Service Options & Availability

Customer service is available to policyholders through several different channels:

  • Telephone: Travelers offers 24/7 customer support at 800-842-5075
  • Website: the MyTravelers section of the website provides the opportunity to chat with a live customer service representative during business hours. You can also get quotes and information about how renters insurance works.
  • App: the Travelers mobile app allows you to view policy information, pay bills, and report claims.
  • Your agent: the independent agent you bought your renters insurance policy through can answer questions you may have concerning your coverage.

You can file a claim on the website, through the app, or by phone at 800-252-4633. Logging in to your MyTravelers account lets you track the status of your claim.

How Does Travelers Compare With Other Renters Insurance Companies?

Although Travelers renters insurance is the most expensive compared to some other top national competitors, its coverage is comparable. Here are comparisons of Travelers and State Farm, Allstate, Amica, Nationwide, and Lemonade.

The Cheapest Basic Renters Insurance by Provider
CompanyNational Monthly Average Sample Rate
State Farm$10.83
Amica Mutual$16.35
Liberty Mutual$16.38

Travelers vs. State Farm

State Farm is America’s largest insurance company and is a popular choice for renters insurance because of its large auto and life insurance customer base. It is a well-established company with superior financial ratings where you can get many types of policies in one place.

Like Travelers, State Farm does not sell renters insurance online; you have to buy it through one of the company’s agents. Similar to Travelers, the State Farm website and app allow you to file and track a claim or pay your bill.

Travelers offers more discounts than State Farm, which doesn’t list many savings options on its website other than a discount for bundling renters and auto insurance and for installing home safety devices such as smoke detectors and burglar alarms.

Read a full State Farm renters insurance review.

Travelers vs. Allstate

While Travelers offers renters insurance in 46 states, Allstate sells its renters policies in all 50 states. The company offers retirees age 55 and over up to a 25% discount on their renters insurance premiums and discounts for renters who bundle their property insurance policies with other Allstate products or have their insurance payments withdrawn automatically from their bank account.

While Allstate has a more favorable J.D. Power rating for customer satisfaction than Travelers for renters insurance, it has more consumer complaints filed with the National Association of Insurance Commissioners (NAIC).

Read a full Allstate renters insurance review.

Travelers vs. Amica

Amica stands out for its customer service, for which Travelers receives lower marks. It has few consumer complaints relative to its size, according to the NAIC. Like Travelers, Amica’s website is easy-to-use and allows renters to get quotes, pay bills, and file and track claims. You can also reach out and receive customer assistance via phone, email, or live chat.

Like Travelers, you can upgrade to replacement cost coverage from actual-cash-value coverage, which pays you to buy new items if your belongings are stolen or damaged, rather than reimbursing you for the current (depreciated) value of those items.

Amica offers a few more discounts than Travelers, like lower premiums for people who pay their premiums automatically, stay with them for at least two years, and go without filing a claim for at least three years.

Read a full Amica renters insurance review.

Travelers vs. Nationwide

Nationwide offers an inflation guard option that can raise your coverage limits to keep up with rising costs. In addition, its standard renters insurance policy includes credit card coverage and building addition/alteration coverage for no extra cost. That means you’re covered for any unauthorized credit card charges or debits up to your policy limits. Like Travelers, Nationwide also covers upgrades or improvements you’ve made to your home or apartment.

Also similar to Travelers, Nationwide offers a basic menu of discounts if you’re claim-free, bundle policies with them, or have protective devices like smoke detectors and burglar alarms installed in your condo or home.

In addition to lower premiums, Nationwide receives fewer customer complaints than Travelers for a company of its size, according to the NAIC. Its policies are available exclusively through Nationwide agents, where Travelers policies are more widely available through thousands of independent agents across the U.S.

Travelers vs. Lemonade

Lemonade is unique among the insurers we reviewed in that it exclusively sells its renters insurance policies online, not through a local agent type of sales force. It also settles 30% of its claims immediately, and a portion of the premiums it receives goes to charities selected by its policyholders.

Buying renters insurance from Lemonade is centered around its mobile app, where you can get quotes, complete and submit an application, update your coverage options, and file and track claims.

Like Travelers, Lemonade’s coverage includes replacement cost for your personal belongings, and you can add additional coverage for fine art, jewelry, and musical instruments. It advertises that its renters insurance rates can be as low as $5 per month, with discounts available for paying your premium in full annually, bundling your renters and car insurance, and having protective devices.

Lemonade renters insurance is available in 29 states and the District of Columbia. According to the NAIC, it has received more than the expected number of renters insurance complaints relative to its size. Lemonade is relatively new (2016) and has not received an AM Best rating for financial strength.

Read a full Lemonade renters insurance review.


Travelers is a very well-established, financially sound company that has been in business since 1863. It has a user-friendly website and app, sells different types of insurance products that can be bundled, and offers a range of discounts. Travelers renters insurance prices are higher than its top competitors, but we don’t advise that you buy on price alone. Travelers is competitive if you own high-value items like jewelry, fine arts, computers, and musical instruments.

Bob Phillips
About the author
Bob’s expertise in the insurance industry comes from his decades of experience as a licensed agent and trainer for several large national insurance companies. He lives in Fort Worth, Texas. Education: B.A. in Sociology from State University of New York College at Cortland.