Do you need insurance that fits your budget? That is what this Safeco vs Travelers comparison is all about.
These are two popular budget friendly companies that are available in most states in the United States. We will help you with finding the best insurance carrier for your vehicle.
Car insurance rates comparison
If you are looking for affordable auto insurance, then these two companies are great options. Safeco and Travelers are known for their cheap auto insurance policies in most states. On top of affordable insurance rates, you will even be able to save more by bundling discounts. To get the most affordable insurance rates that meet your budget you must compare quotes from each company. Once again, on average both insurance providers offer low rates, but we must remember that insurance companies don’t rate everyone the same. Where you live matters. For example, living in Fort Lauderdale I pay more for insurance than most people. I was looking for local State Farm agents near me and I found that insurance rates in my city were significantly higher than other cities. Companies will take a look at age, sex, marital status, etc. Get quotes today!
Auto insurance claims comparison
Both insurance providers received mixed reviews from previous policyholders who have filed auto insurance claims with them. In the latest J.D. Power Auto Claims Study Travelers received 3 out of 5 Power Circles in every category except the Repair Process. Safeco rated lower than Travelers with 2 out of 5 Power Circles in Overall Satisfaction. Safeco received 2 out of 5 Power Circles in every category.
Home insurance claims study
The Safeco homeowner’s insurance policy rated average in the J.D. Power U.S. Home Insurance Study. Safeco received 3 out of 5 Power Circles, which is higher than their auto claims rating. Travelers received 3 out of 5 Power Circles as well which matched their rating in the auto claims comparison.
Renters Insurance comparison
In the J.D. Power Renters Insurance study both insurance companies received 2 out of 5 Power Circles.
Customer complaint comparison
Safeco is under the Liberty Mutual Group and Liberty Mutual received an “A” BBB rating which reveals a company that handles the complaints of their customers well. Travelers has been a BBB accredited company since 07/07/2010. In the Better Business Bureau rating system Travelers received the highest rating possible with an “A+” rating.
Both companies handle customer complaints well, but according to BBB Travelers does slightly better.
Financial strength comparison
Travelers received good financial strength ratings across the board. A.M. Best gave Travelers an “A++” financial strength rating which is their highest rating. Travelers received positive grades from Fitch as well with an “AA” financial strength rating. Moody’s gave Travelers an “Aa2” rating which is their third highest rating.
Safeco has the financial stability of Liberty Mutual. A.M. Best awarded Liberty Mutual with an “A” (Excellent) rating. Standard and Poor’s rated Liberty Mutual with an “A” Strong rating. Moody’s awarded Liberty Mutual with a (Good) “A2” rating.
Discounts and features comparison
Travelers discounts and features
Multi-Policy Discount – When you purchase other policies such as condo and home insurance along with your car insurance, then you will be able to save 13% with Travelers.
Home Ownership Discount – Do you own a home or a condo? If so, then you will be able to save 5% on auto insurance. It does not matter if the home is insured with Travelers or another company such as State Farm, GEICO, etc.
Multi-Car Discount – If you have more cars, then you will be able to save more on auto insurance. With this discount, you will be able to save up to 8%.
Safe Driver Discount – A clean driving record can save you 10% – 23% on your auto insurance policy. The longer that you have been accident and ticket free the more that you will be able to save overall with Traveler’s safe driver discount.
Continuous Insurance Discount – Save 15% on auto insurance when you have had no gaps in your coverage.
Hybrid/Electric Vehicle Discount – There are many benefits of having a hybrid vehicle. Hybrid cars will reduce the cost of fuel, there are fewer emissions, they are environmentally friendly, lower annual tax bills, they have a higher resale value, and more. Another benefit of having a hybrid vehicle is that you will be able to save on car insurance. With Travelers Insurance, you will be given a hybrid discount.
New Car Discount – If you own a vehicle that is less than 3 years old, then you will be able to save 10% with Travelers.
Good Student Discount – With Travelers you will be able to save 8% on your auto policy if you or the child on your policy maintains a “B” average.
IntelliDrive Program – This is an awesome program that allows drivers to prove their driving skills. If you like pay as you drive auto insurance companies, then you will love IntelliDrive. This is a 90-day program that scores your driving behavior and allows you to save up to 20%. The only drawback of this discount is that high-risk driving may increase your insurance rates.
Safeco discounts and features
Package deal – Drivers can save up to 15% on auto insurance when they bundle multiple polices with Safeco.
Safeco RightTrack – You could save up to 30% on auto insurance with this discount.
Safeco Safety Rewards – These rewards include Diminishing Deductible, Accident Forgiveness, Accident Prevention, and Teen Safety Rewards.
Drive less – With this insurance discount you will save up to 20% when you drive less than the average miles driven per year.
Deter Thieves – If your vehicle is equipped with anti-theft devices, then you will easily be able to save. Having LoJack or Teletrac will result in even more insurance benefits.
Home ownership – If you own a single-family home, townhouse, condominium or mobile home, you will qualify for this insurance discount.
Anti-Lock brakes discount – Vehicles equipped with anti-lock brakes means more discounts for drivers. This discount is not available in all states.
Multiple cars – Insure multiple autos on the same policy to save money with Safeco.
Roadside assistance comparison
Travelers Insurance
Travelers Insurance offers Basic and Premiere roadside assistance. With the Basic plan towing will be provided up to 15 miles. You will also receive services such as fuel delivery, jump starts, flat tire change, and lockout assistance.
The Premiere plan differs because it gives you towing of up to 100 miles. This plan also gives you trip interruption coverage and personal property coverage with a limit of $500.
Safeco Insurance
Safeco’s Basic roadside assistance covers towing to the nearest service station, flat tire change, battery service, fuel and fluids delivery, and lockout services. Additional services include RV roadside assistance and motorcycle roadside help.
Mobile app comparison
Travelers
The Travelers mobile app, has received great reviews online. Travelers has recently revamped this app by enhancing informational content areas and styles. With this insurance app you will be able to download your auto Insurance cards, pay your insurance bills, enroll in automatic payments, which reduces your rates, contact claim professionals, get roadside assistance, and more.
Safeco
The Safeco app received average reviews. With this app, you are given reporting auto accident features, the ability to check your claims status, pay your bills, call the claims center in one click, add policies, and more.
Bottom Line
The matchup is very close between these two insurance carriers. Travelers and Safeco are good insurance options with different perks. Safeco offers great extended coverage and they offer a slightly better safe driving program to help you save money. Travelers does slightly better in claims and financial strength. I encourage you to compare insurance prices to help you to make the best choice.