Travelers Renters Insurance Review 2024

You can get a decent amount of renters insurance relatively cheaply. Our analysis found an average rate of $143 a year for $15,000 worth of personal property coverage. Renters insurance from Travelers costs significantly more than that.

Company	Average annual renters insurance cost for $15,000 of personal property coverage	Average annual renters insurance cost for $30,000 of personal property coverage	Average annual renters insurance cost for $50,000 of personal property coverage	Forbes Advisor rating
State Farm	$102	$121	$153
Westfield	$136	$156	$183
American Family	$154	$189	$231
Auto-Owners	$113	$147	$196
USAA*	$116	$155	$196
Allstate	$109	$153	$215
Country Financial	$174	$201	$253
Nationwide	$129	$163	$207
Travelers	$244	$310	$432
Average	$143	$186	$247	–

Source: Quadrant Information Services. Rates include $100,000 in liability coverage and $1,000 in medical payments coverage.
*USAA is available only to the military, veterans and their families.

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Related: Cheap Renters Insurance

The type of problems covered by renters insurance are fairly standard:

Personal property: This covers your belongings such as clothing, furniture, jewelry, electronics, rugs, pots and pans, artwork and other items. It covers problems like fire, smoke, theft, explosions, weight of snow and ice, falling objects and vandalism.

Liability: This coverage type pays for injuries and property damage you accidentally cause to others, including settlements and judgments against you—but only up to your liability limit. It also pays for a legal defense if you are sued because of an accident. For example, if your dog bites someone, you could generally tap into your renters liability coverage.

Medical payments: This coverage type pays for smaller medical bills if someone else is injured, no matter who was at fault. For example, if a guest slips in your kitchen and suffers a minor injury, your medical payments coverage could pay for the bills, up to policy limits. Medical payments are usually sold in small amounts, such as $1,000 worth of coverage.

Additional living expenses: If you can’t live in your home while it is being repaired due to a problem covered by your policy (like smoke damage) additional living expenses coverage can reimburse you for extra expenses like hotel bills, laundry service and takeout meals. Make sure you keep your receipts so you can make a claim.

Consider Replacement Cost Coverage

If you want better coverage for your personal belongings, it’s a good idea to add replacement cost coverage. This pays to repair or replace your damaged or stolen items with new, similar items. You can usually upgrade from “actual cash value” coverage, which pays only an item’s depreciated value. For example, if you had a 15-year-old sofa that was damaged in a fire, you would receive reimbursement based on an old sofa under “actual cash value” coverage.

In addition to the standard coverage listed above, Travelers has some additional options you can add to a renters insurance policy, including:

• Housing improvements coverage: If you paid for alterations or improvements to your apartment, this coverage allows you to apply a percentage of your personal property coverage to repair or replace improvements if they were damaged by a problem covered by your policy.
• Valuable items insurance: This allows you to add higher policy limits to cover valuable items such as musical instruments, jewelry, fine art and computers.

Here are some renters insurance discounts to look for from Travelers:

• Multi-policy discount: You can save up to 5% on your car insurance if you bundle it with renters insurance. You can also bundle other insurance types from Travelers, such as umbrella insurance, boat insurance or a personal articles floater.
• Protective device discount: If your apartment has devices such as a home security system, interior sprinkler system, or smart or connected technology that alerts you to a fire or break in, you may be eligible for a discount.
• Loss-free discount: If you don’t have any renters insurance claims for a specified period of time, you may qualify for a discount.

Related: Cheapest Renters Insurance of 2024

Travelers offers “Quantum Home 2.0” to renters in certain states. Quantum Home 2.0 packages together several different coverage types and offers the ability to scale up or scale down your policy limits. You can also supplement your renters policy with additional coverage types such as personal injury coverage, refrigerated property coverage and an enhanced security package that includes identity fraud coverage.

For example, renters can select base coverage for personal property, liability, medical payments and additional living expenses. You can then choose among different coverage levels for items that have special limits.

Here’s an example of what that might look like:

Items	Travelers Protect	Travelers Protect Plus	Travelers Protect Premier
Money, bank notes and stored value cards	$250	$1,000	$2,000
Theft of jewelry, watches and precious stones	$1,500	$3,000	$5,000
Collectibles, figurines, porcelains and statuary	$1,000	$2,500	$5,000
Comic books and trading cards	$1,000	$2,500	$5,000

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You can file a renters insurance claim with Travelers online or by calling 1-800-252-4633.

Travelers offers a wide range of insurance options, including:

• Boat and yacht insurance
• Car insurance
• Condo insurance
• Home insurance
• Landlord insurance
• Pet insurance
• Travel insurance
• Umbrella insurance
• Wedding and events insurance

To identify the best renters insurance companies, we evaluated each company based on the following.

Renters insurance rates (80% of score): We scored each company’s renters insurance rates based on national averages for policies with $15,000, $30,000, $50,000, $75,000, $100,000 and $200,000 worth of personal property coverage. Source: Quadrant Information Services.

Complaints (20% of score): We used complaints about home insurance (which includes renters insurance) upheld by state insurance departments. Most home/renters insurance complaints center on claims, including unsatisfactory settlements, delays and handling of the claim. Source: National Association of Insurance Commissioners.