Travelers Small Business Insurance Ratings
Travelers Small Business Insurance Reviews 2020 (Ratings, Complaints & Coverage). Travelers Insurance was founded by J.G. Baterson in 1853 as St Paul Fire & Marine. More than 160 years after its founding, Travelers Insurance has risen to become one of the largest insurance companies in the U.S. The company is still headquartered in the St Paul, Minnesota. Travelers Insurance has operations in the U.S., United Kingdom, Canada, Lloyd's of London, Brazil and the Republic of Ireland.
Travelers Insurance holds the number 99 position on the Fortune 500 list of U.S. Largest companies. What is unusual about Travelers Insurance is that they have achieved such a high ranking even though their policies are largely sold through its network of 14,000 independent agents rather than dedicated sales. In 2006, Travelers Insurance was purchased by the MetLife Insurance group, but has retained their operating name.
If you are a small business owner looking to buy liability insurance, read Travelers small business insurance reviews to learn about Travelers's products.
Check out Travelers reviews, ratings, complaints & coverage for general liability, workers compensation and other small business insurance commercial policies.
Following are some of the answers to commonly asked Travelers small business insurance questions:
- Does Travelers Offer Business Insurance?
- What Types Of Commercial Insurance Does Travelers Offer?
- How Much Does Travelers's Small Business Insurance Cost?
- Are Travelers's Commercial Insurance Reviews & Ratings Good?
Does Travelers Offer Business Insurance?
Yes, Travelers offers business insurance with a focus on small business commercial policies.
What Types Of Commercial Insurance Does Travelers Offer?
Travelers offers small business insurance policies including: General Liability, Commercial Property, Workers Compensation, Commercial Auto and others.
How Much Does Travelers's Small Business Insurance Cost?
The average cost of Travelers's commercial insurance policies ranges from $47 to over $179 per month, and is mainly based on your business's: Industry, Location, Gross Sales, Employees and/or Payroll, Policy Limits, Endorsements, Deductibles, Experience & Claims History.
Information About Travelers Insurance
Travelers Insurance Company is listed on the New York Stock Exchange as TRV, and is also one of the 30 publicly traded firms that make-up the Dow Jones Industrial Average on a daily basis. With assets totaling $110 billion, Travelers has a huge competitive advantage in the marketplace. Travelers also offers a comprehensive range of business insurance products, services and great customer support. The Travelers small business insurance reviews on the Internet are decent.
Travelers Insurance Quick Facts
- 3rd largest writer of commercial property insurance.
- 2nd largest writer of personal lines through independent agents.
- Assets of $110 billion as of 2009.
- 30,000 employees nationwide.
- Ranked #99 on the Fortune 500 list of U.S. Largest Companies.
- #1 in 9 states.
- Top 5 in 49 states.
- Has 14,000 independent agencies and broker firms nationwide.
Travelers Small Business Insurance Products
Business Owners Policy: This policy, also called a BOP, bundles liability property insurance at a discounted rate. For business owners with a critical interest in their property, this is an easy way to reduce the price of both forms of protection. But it does not provide coverage for professional liabilities (claims that arise from wrongful practices by professionals), worker's compensation, auto insurance and health or disability insurance. You would need purchase all these policies separately. Travelers small business insurance ratings are good for the BOP
Workers Compensation: As a business owner it is vital to have worker's comp to cover yourself and your company from legal action. Workers compensation provides wage replacement and pays the medical expenses of employees who get injured while on the job. In exchange for these benefits, the employees relinquish their rights to sue their employer for the incident. It's also required under most state laws for any business with W2 employees. Travelers ratings for workers comp are good.
Data Breach: Nowadays most small businesses serve a wider market through e-commerce and social media platforms. You will want data breach coverage to restore public confidence, in case you fall victim to data breaches. A good data breach policy provides coverage for cyber extortion, data restoration, notification, legal representation and public relations costs.
Professional Liability: If your business provides a professional service, you need this insurance to cover you when you make errors or omissions in your line of work. This insurance protects your small business from damages if customers make claims that your business was negligent, gave inaccurate advice or misrepresented their services. Travelers business insurance reviews for errors and omissions are mixed.
Employment Practices Liability: Also know as EPLI, it is generally offered as a component of a worker's compensation policy. EPLI protects companies should workers make claims that an accident or illness was the result of unsafe working conditions. If you're not sure what's in your policy, ask your agent to be sure you have employers' liability insurance.
Commercial Auto: Commercial auto insurance provides protection to you from claims associated with property damage or injuries suffered by others in accidents you and your employees cause in your insured commercial vehicle. Commercial auto insurance is broken up to bodily injury and property damage coverage.
Commercial Umbrella: Umbrella insurance is extra liability insurance. It is designed to provide protection to you from major claims and lawsuits and as a result it helps protect your assets and your future. It does this in two ways: Provides additional liability coverage above the limits of your homeowners, auto, and boat insurance policies.
Management Liability: Management liability insurance provides financial protection helps to businesses, alongside with their directors, officers, managers and executives from allegations of discrimination, wrongful termination, sexual harassment and other "wrongful acts." It includes directors and office liability insurance, employment practices liability (EPL) insurance, fiduciary liability insurance, and "special crime" insurance (covering ransom, kidnap, and extortion exposures).
Travelers Claims Management
Travelers has a 24/7 claims center. You can file over the phone, or online. Travelers' login portal allows you access to all of your insurance information, pay bills, track claims and more. You can also file a claim with Travelers' mobile app, available on iOS and Android.
Getting A Travelers Quote
Getting a Travelers insurance quote is as simple as using their online quote tool to answer some questions about yourself, and the type of coverage that you need. You can then purchase your policy right online. If you ever need to edit your policy you can easily take care of that through your online account. You can also view your billing status there and switch to paperless billing, if you desire. Travelers small business insurance reviews about their online account are ok.
Travelers Small Business Insurance Reviews & Ratings
Travelers is generally regarded highly by multiple industry rating systems on its financial ability to meet commitments and on servicing factors such as claims payout. The NAIC found Travelers' ratio of complaint over premiums written slightly worse than the market average at 1.01 (a tad worse than market average of 1).
Travelers' financial strength rating is A++ (superior), according to ratings agency A.M. Best. Financial strength is important because it indicates how well an insurer can pay claims.
Travelers Preferred Classes Of Business
And specifically Travelers likes to write these types of small business classes:
- Barber Hair Dresser
- Beauty Salon
- Coffee Shop
- Commercial Printers
- Dry Cleaners
- Gift Store
- Ice Cream Shop
- Insurane Agents
- Med Spa
- Nail Salon
- Occupational Therapy
- Pet Boarding & Kennels
- Pet Grooming
- Pet Sitting
- Tax Preparation
Travelers Business Insurance Pros & Cons
- Excellent Financial Strength Rating.
- Multiple policy lines available through same company.
- Large network of local insurance agents across the country.
- Mobile tools application for claims and policy services.
- Informative and user-friendly website.
- Not all coverage options are available in all states.
- Some customer complaints reported with billing/collection and customer service issues.
Are Travelers's Commercial Insurance Reviews & Ratings Good?
Travelers Insurance Contact Information
Address: One Tower Square, Hartford, CT 06183
Other companie owned: American Equity Insurance Company, American Equity Specialty Insurance Company, Consumer County Mutual, Discover Property and Casualty Insurance Company, Discover Specialty Insurance Company, Farmington Casualty Company, Fidelity and Guaranty Insurance Company, Fidelity and Guaranty Insurance Underwriters, Inc, First Floridan Auto and Home Insurance Company, Pacific Select Insurance Company, Premiere Insurance Associates, Seaboard Surety Company, St Paul Fire and Casualty Insurance Company, St Paul Fire and Marine Insurance Company, St Paul Guardian Insurance Company, St Paul Protective Insurance Company, St. Paul Medical Liability Insurance Company, St. Paul Mercury Insurance Company, St. Paul Surplus Lines Insurance Company, The Automobile Insurance Company of Hartford, CT, The Charter Oak Fire Insurance Company, The Phoenix Insurance Company, The Premier Insurance Company of Massachusetts, The Standard Fire Insurance Company, The Travelers Home and Marine Insurance Company, The Travelers Indemnity Company of America, The Travelers Indemnity Company of Connecticut, The Travelers Lloyds Insurance Company, Travco Insurance Company, Travelers, Travelers Auto Insurance Company of New Jersey, Travelers Casualty Company of Connecticut, Travelers Casualty Insurance Company of America, Travelers Casualty and Surety Company of America, Travelers Commercial Casualty Company, Travelers Commercial Insurance Company, Travelers Excess and Surplus Lines Company, Travelers Insurance Companies, Travelers Lloyds of Texas Insurance Company, Travelers Personal Insurance Company, Travelers Personal Security Insurance Company, Travelers Property Casualty Company of America, Travelers Property Casualty Insurance Company and United States Fidelity and Guaranty Company.
Travelers Commercial Insurance - The Bottom Line
If you're strictly looking at price, Travelers probably isn't the right choice for you. But if you're interested in many coverage options, or you prefer dealing with local agents, Travelers is a solid option. With a presence in all 50 states and a reputation for excellent customer service, Travelers may be a competitive company to offer you a new small business insurance policy.
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