- Our expert take
- Travelers commercial auto insurance at a glance
- How much does Travelers commercial auto insurance cost?
- What does Travelers commercial auto insurance cover?
- What types of vehicles does Travelers insure?
- How does Travelers compare to competitors?
- Compare commercial auto insurance companies
- How can I buy Travelers commercial vehicle insurance?
- FAQs: Travelers commercial auto insurance guide
Our expert take
Travelers, a commercial insurance market leader, is financially strong and offers businesses various coverage options and multiple discounts. The National Association of Insurance Commissioners, which tracks insurance-customer complaints, finds a low level of dissatisfaction with the company. However, the company only offers commercial car insurance in 21 states and you need to talk to an agent to get a quote.
- Is the second largest commercial auto in terms of market share.
- Has the strongest possible rating from AM Best.
- Offers plenty of ways to save, including good payer and paid-in-full discounts
- You must speak with an agent to get a quote.
- The company only offers commercial auto insurance in 21 states.
Travelers commercial auto insurance at a glance
| Review category | Details |
|---|---|
| AM Best rating | A++ |
| NAIC Complaint Index | 0.29 |
| Available in | 21 states |
| Best for | Small business owners seeking strong fleet tools, telematics programs and risk-control services |
| Not ideal for | Small business owners who want the best digital experience |
How much does Travelers commercial auto insurance cost?
Travelers doesn’t publish average costs for commercial auto insurance, making it hard to compare with other companies’ costs. Small-business broker Insureon finds the average commercial auto cost at $147 a month, which comes to $1,762 a year.
Travelers' commercial auto insurance pricing for your particular business can be accurately determined by obtaining a custom quote. Comparing Travelers' rate with quotes from multiple competitors helps you identify the company offering the most affordable rates.
How does Travelers determine commercial auto insurance rates?
Travelers evaluates your business’s risk profile to determine your cost of commercial auto insurance. Cost-determining risk profile factors include:
- Industry
- Number, type and age of vehicles
- Vehicle use
- Driving history
- Claims history
- Location
- Coverage types, limits and deductibles
Does Travelers offer any commercial auto discounts for business owners?
Yes, Travelers offers a variety of discounts that may help business owners lower their commercial auto premium.
When talking to Travelers about commercial auto policies, ask about its discounts. Travelers says customers are eligible for up to 16% in savings by taking advantage of the following discounts:
- Good payer: Those with a good paying history pay less
- Paid in full: Paying the entire premium at the start of the policy can save you money
- Recurring billing through credit card or EFT: Automatic billing saves time and money
Another good way to save is to hire drivers with good driving records to ensure you get the best rates.
What does Travelers commercial auto insurance cover?
What is covered by Travelers' commercial auto insurance policy depends on what coverage you pick to be a part of it. The most basic policy will include liability insurance and, if your state requires it, uninsured/underinsured motorist, personal injury protection (PIP), or medical payments (MedPay). A full coverage policy will also include collision and comprehensive coverage, providing protection for your vehicle.
Here’s a look at what coverage states may require and what optional coverage could potentially be added to a policy.
| Coverage type | Good to know |
|---|---|
| Bodily injury liability | Required by states. Covers injuries you cause to others; required everywhere; limits vary by state. |
| Property damage liability | Required by states. Covers property damage you cause to others' property; usually optional. |
| Collision | Optional. If you have a lease or loan on a vehicle, the lender may mandate you have it. Covers damage or loss from business-use accidents. |
| Comprehensive | Optional. If you have a lease or loan on a vehicle, the lender may mandate you have it. Covers damage or loss from weather, theft, fire and more. |
| UM/UIM | Requirements vary by state. Covers damage or loss from accidents caused by uninsured and underinsured drivers. |
| PIP or MedPay | Availability and requirements vary by state. Covers medical expenses and related costs for you and your passengers after an accident, regardless of fault. |
| Hired and non-owned auto | Optional. Coverage for rented or employee-owned vehicles used for business. |
| Roadside assistance | Optional. Covers towing, battery jumps, flat tires and lockouts. |
| Rental reimbursement | Optional. Covers rental vehicle while business vehicle is out of service for an approved claim. |
| Trailer/cargo | Requirements vary by state. Covers trailers and cargo you use for business, but don’t own. |
| Any auto | Availability varies by state. Covers both hired and nonowned vehicles, such as an employee’s personal car used for business. |
What is included in Travelers'commercial auto insurance?
Travelers' standard coverages for commercial auto insurance varies by state, but can include:
- Liability: This pays for injuries to others and damage to other cars or property when your driver is at fault for the accident. Commercial auto insurance liability limits can be split, such as 25/50/25 with the first two numbers for bodily injury and the third for property damage or combined, like $300,000 for both coverage types.
- Uninsured/underinsured motorist (UM/UIM): This helps pay for injuries associated with an accident that wasn’t your fault when the other party either has no insurance or lacks enough coverage to pay for the loss. Some states also offer uninsured motorist property damage (UMPD) coverage that pays for damage to your vehicle.
- Personal injury protection (PIP): This pays for accident-related medical costs that you or your passengers incur, along with lost wages and replacement services, to perform tasks you’re unable to due to your injuries.
- Medical payments: This protects your driver and passengers and helps pay for injuries they incur in an accident.
- Collision: This pays to repair or replace your vehicle if it hits another object, overturns, rolls or is in a collision with another vehicle, regardless of fault. Collision coverage comes with a deductible.
- Comprehensive: This pays to repair or replace your vehicle if it’s damaged by events other than a collision, such as vandalism, fire, or storm damage. Comprehensive coverage comes with a deductible.
Does Travelers offer optional or industry-specific coverage options?
Travelers offers several optional commercial auto coverage options, including:
- Towing and roadside assistance: Helps pay for towing, flat tires, lockouts, and battery jump-starts.
- Hired auto: Extend coverage to employee-owned or rented vehicles when used for business purposes.
- Non-owned autos: Extends liability coverage to employee-owned vehicles used for business reasons.
- Rental reimbursement: Pays for a rental car while your business vehicle is in the shop for claim-related repairs.
Travelers also offers auto lease gap insurance and blanket additional insured coverage, which eliminates the need to name each contracted driver as an additional insured.
What types of vehicles does Travelers insure?
Travelers' commercial auto insurance covers a wide range of vehicles, such as:
- Business autos: This includes cars, light trucks, SUVs and vans
- Trucks: Travelers covers a variety of trucks, including dump trucks and general freight haulers
- Trailers: This includes pickup truck utility trailers, dump trailers and tractor trailers
How does Travelers compare to competitors?
Travelers has the highest financial strength rating possible through AM Best (A++) which surpasses that of many competitors. It is also second in direct premiums written, according to NAIC. Its complaint level is well below the average for competitors its size. But it is only available in 21 states.
Use Insurance.com’s commercial auto comparison tool to gain more insight into how Travelers compares with top competitors.
How can I buy Travelers commercial vehicle insurance?
To purchase a Travelers commercial auto policy, you can call (800) 842-5075.
Here’s a checklist for the information you’ll need when purchasing a policy from Travelers:
- The names, license numbers and driving record information (tickets or accidents) of all the workers who’ll be driving your business vehicles
- The make, model, year and VIN of your business vehicles
- The place your business is located and what each vehicle will be used for
- The estimated number of miles each vehicle will be driven annually
- The coverage types, policy limits and deductible amount you want
Expert tips: How can I save money on Travelers commercial auto insurance? Commercial auto insurance is a necessary expense for small business owners. Here are some strategies to save on commercial auto insurance and ensure you’re getting the best rate for your policy.
- Bundle policies. If you already have a BOP or other commercial coverage with W.R. Berkley, ask if you can get your commercial auto policy there as well and bundle to save money.
- Compare rates. Every insurer, including W.R. Berkley, evaluates risk differently. Get quotes from at least three companies to make sure you’re getting the most competitive price for the coverages and limits you need.
- Check for discounts. Ask W.R. Berkley agents about any discounts or other savings programs you may qualify for.
- Review your coverage choices. Assess your W.R. Berkley coverage yearly. Look at your limits, deductibles and any optional coverages you’ve added on. Make sure your coverage and limits match your actual exposure. If affordable, you can often raise your deductible to lower premiums.
FAQs: Travelers commercial auto insurance guide
How do I file a commercial auto claim with Travelers?
To file a claim with Travelers, you can use the company portal, email or call (800) 238-6225.
Can I bundle my commercial auto insurance with other policies from Travelers?
Yes, you can bundle commercial auto insurance with other Travelers business insurance, like a general liability policy or a business owner's policy (BOP). Bundling small business policies can save time by streamlining billing and claims, and save money by receiving a discount.
Does Travelers offer fleet insurance?
Yes, Travelers offers coverage for fleets, which it defines as five or more autos under one ownership for business purposes, to protect companies that have multiple vehicles. Talk to an agent to learn more about Travelers' commercial auto fleet program.
