- Our take
- What makes Travelers different?
- Small business policies from Travelers
- How much does Travelers small business insurance cost?
- How to save on the Travelers small business insurance
- How to buy small business insurance from Travelers
- The importance of commercial insurance for small businesses
- Bottom line
- Methodology
Our take
Travelers stands out for its exceptional financial strength rating. AM Best gave the company an A++ (Superior), the highest possible rating, so you can be confident that it can afford to pay out any claims. The insurer also has fewer complaints for a company its size than one would expect, according to the National Association of Insurance Commissioners (NAIC).
It has powerful online resources to help you manage your policy, including a claims calculator and a suite of risk-management tools. Travelers has in-house consultants who can identify risks and help improve workplace safety. The company also offers safety training for employees.
In addition, Travelers offers industry-specific packages if you want to customize your coverage. Instead of guessing what types of insurance your company should have, these packages remove the guesswork and ensure you have the required coverage.
- Risk-management tools
- Industry-specific insurance packages
- Online claims process
- No online quotes
- Limited coverage details online
What makes Travelers different?
Travelers offers many of the same coverages as other insurers. However, it stands out for its industry-specific insurance packages. For example, Travelers offers the IndustryEdge package of insurance lines for franchised car dealerships and EnergyPro products for oil and gas businesses.
Additionally, Travelers provides numerous risk-management resources for its customers, which can reduce the likelihood of a claim. Through Travelers Risk Control, business insurance customers can take advantage of on-site consulting, safety training and education programs, online self-assessments, and virtual consults with safety professionals.
Travelers also has a team dedicated to industry hygiene. You can send chemical and air samples to its laboratory and have them evaluated based on Occupational Safety and Health Administration (OSHA) or National Institute of Occupational Safety and Health (NIOSH) standards.
Small business policies from Travelers
Travelers offers a variety of small business insurance policies. Some of the options available include:
- Business owner’s policy: A business owner’s policy (BOP) combines general liability insurance and commercial property insurance at a discounted rate.
- Commercial auto insurance: Commercial auto insurance provides liability coverage for owners or employees who drive business-owned or leased vehicles.
- Commercial property insurance: Commercial property insurance covers damage to your physical workspace, business equipment and inventory.
- Cyber insurance: Data breach insurance covers financial losses after a cyberattack and includes customer notification, credit monitoring and reputation management.
- Directors and officers insurance: D&O insurance, also called management liability insurance, covers business managers if they are sued for financial harm.
- Employment practices liability insurance: EPLI protects a business if a fired employee sues for wrongful termination, harassment or similar issues.
- General liability insurance: General liability insurance covers third-party claims of bodily injury, property damage and advertising injury.
- Professional liability insurance: Professional liability insurance covers client lawsuits related to poor business advice, breach of contract, misrepresentation and negligence.
- Workers' compensation: Workers’ comp covers an employee’s medical expenses if they get sick or injured on the job.
- Umbrella insurance: Commercial umbrella insurance provides excess liability coverage if a claim exceeds the coverage limits of another liability policy, like general liability insurance.
How much does Travelers small business insurance cost?
Travelers doesn't offer online quotes; you must contact an independent agent. The Travelers website can help you locate a local representative.
How to save on the Travelers small business insurance
Travelers offers an impressive number of small business insurance discounts, particularly for commercial auto insurance. Business auto customers can save up to 16% by paying premiums on time, paying in full and enrolling in automatic payments.
You also can save money if you bundle multiple policies like general liability insurance and workers’ compensation. However, Travelers’ website mentions that bundling discounts don’t apply to all coverages, so you should contact an agent to find out which products are eligible for multi-line savings.
How to buy small business insurance from Travelers
To get a quote or purchase a Travelers business policy, you must contact an independent agent. The company doesn’t offer online quotes or sales. You can visit Travelers’ business insurance website and enter your ZIP code to find agents near you.
The importance of commercial insurance for small businesses
Operating a small business comes with a number of risks that can lead to financial consequences. To protect your business against potential pitfalls, it’s important to have small business insurance. Without commercial insurance, your business could face costly lawsuits.
Every small business has unique insurance needs, but some of the most common policies are general liability insurance, professional liability insurance, commercial property insurance, workers’ compensation and commercial auto insurance. If you need help choosing the right policies for your business, an insurance agent can provide a recommendation.
“For a small business owner, insurance is not just a check-the-box activity — it’s about protecting your family, your life’s work, your employees, and the future of your business. And waiting to put insurance in place until you need it means that you’re likely too late. With the right coverage in place, you can have peace of mind and focus your time and energy on growth and innovation, knowing you are equipped to weather whatever challenges come your way,” says Nate Schelhaas, senior vice president and head of the business owner segment at Principal Financial Group.
When shopping for small business insurance, it’s important to consider factors like the insurer’s coverage options, discounts, customer satisfaction scores, financial stability ratings and digital resources. It’s a good idea to get personalized rate quotes from several insurance providers to find the most affordable policies for your business.
Bottom line
Travelers has several excellent features, including robust risk-management tools. As a customer, you have access to risk-management professionals with expertise in your industry. Travelers’ risk-management tools can help you improve workplace safety and reduce costly claims, which benefits every business.
We also like that Travelers offers industry-specific insurance packages, allowing you to get tailored coverage for your company. However, keep in mind that Travelers doesn’t offer online quotes or policy sales. If you want a personalized rate quote for your business, you must call a local independent agent during business hours.
Methodology
To identify the top 10 business insurers for small businesses, we used three trusted third-party metrics.
- J.D. Power’s 2024 U.S. Small Commercial Insurance Study, the results of which we used to calculate a star score – with 5 stars being the best. American Family had the highest customer satisfaction index – a score of 727 – and was assigned 5 stars. Star scores were derived for the remaining carriers relative to their customer satisfaction index.
- AM Best Financial Strength Ratings (FSRs), which we also used to calculate a star score. An A++ is the best possible FSR, and companies with that rating get 5 stars. Each rating notch below A++ is assigned a 1/3 star value – for example, an A+ receives 4.67 stars, and an A receives 4.33 stars.
- 2023 complaint index data from the National Association of Insurance Commissioners (NAIC) for commercial property and commercial liability. Again, we used the finding to calculate a star score. We collected the complaint indices and annual written premiums for each company to calculate a weighted average for each company group by line. The lowest property and liability complaint indices were assigned 5 stars, the highest complaint indices were assigned 2.5 stars. Star scores were derived for the remaining carriers relative to their complaint indices.
We then weighed the overall score with one-third for J.D. Power, one-third for AM Best, one-sixth for NAIC commercial property and one-sixth for NAIC commercial liability.
The companies were then ranked on a curve, with the top score being 5 stars and all subsequent star ratings being determined by that top score.
