GEICO stands out for its affordable premiums, excellent customer service, and user-friendly digital experience. Travelers, while financially stable and offering a wide range of insurance products, receives mixed reviews for customer service and lacks a mobile app. The choice depends on individual priorities: GEICO for cost-conscious customers who value digital convenience and excellent service, and Travelers for those who prefer local agent access and are less concerned about potential customer service issues.
| Attribute | GEICO | Travelers |
|---|---|---|
| Customer Service Responsiveness | 24/7 customer service via phone and online | Mixed, with some reviews citing excellent service during the purchasing phase, while dissatisfaction arises from post-purchase support and claim handling. |
| Policy Coverage Options | Auto, motorcycle, ATV, RV, boat, collector auto, rideshare, commercial auto, Mexico auto, home, renters, condo, co-op, RV, life, flood, business, identity protection, jewelry, and medical malpractice | Auto, Homeowners, Renters, Condo, Boat and Yacht, Landlord, Umbrella, Jewelry and Valuable Items, Wedding and Events, Travel, Pet, Motorcycle, Flood, Business Insurance, Casualty Insurance (general liability, professional liability, and cyber insurance). Standard coverage options such as liability, collision, and comprehensive insurance are available, along with gap insurance and new car replacement coverage. |
| Premium Cost | Affordable premiums, especially for low-risk customers. Claims you could save 15% or more by choosing GEICO insurance. Rates 20% below the median state cost for car insurance. | Average annual premium for full coverage is about $1,630. Minimum coverage averages around $530 annually. Full coverage car insurance costs an average of $1,776 per year. Premiums can vary based on factors like driving record, credit history, and location. |
| Discount Availability | Multiple policies, good student, member of certain professional organizations, military members and federal government workers | Travelers offers a variety of discounts. |
| Claim Processing Speed | Often within a few days. Straightforward auto insurance claims can take less than 48 hours. Total loss payment usually takes about a week and a half. Most claims are settled within 30 days. | Aims to process claims as quickly as possible, typically within a few days to a few weeks. The processing time depends on the complexity of the claim, the availability of documentation, and the cooperation of all parties involved. |
| Online Account Management | User-friendly online account management | Travelers offers online account management. Customers can create a MyTravelers account to see their claim\'s progress. |
| Mobile App Functionality | Intuitive mobile app | Not available |
| Financial Stability Rating | A++ from A.M. Best, AA+ from Standard & Poor's | A.M. Best: A++ (Superior), Fitch: AA (Very Strong), Moody's: Aa2 (High Quality), S&P Global: AA (Very Strong) |
| Bundling Options and Savings | Several discount options for those who combine its coverage policies | Not available |
| Availability of Local Agents | Limited number of local agents, depending on the state | Travelers has field offices in every U.S. state. |
| Types of Insurance Offered | Vehicle, property, business, and additional insurance. Vehicle insurance includes auto, motorcycle, ATV, RV, boat, collector auto, rideshare, commercial auto, and Mexico auto. Property insurance includes home, renters, condo, and co-op. Business insurance includes commercial auto, general liability, professional liability, workers compensation, and business owners insurance. Additional insurance includes umbrella, life, flood, identity theft protection, jewelry, and medical malpractice. | Auto, Homeowners, Renters, Condo, Boat and Yacht, Landlord, Umbrella, Jewelry and Valuable Items, Wedding and Events, Travel, Pet, Motorcycle, Flood, Business Insurance, Casualty Insurance (general liability, professional liability, and cyber insurance). |
| Overall Ratings | Overall performance: 4.5 stars out of 5. NerdWallet survey: overall satisfaction score of 76 out of 100. | A++ rating from A.M. Best indicating strong financial stability. Full-coverage car insurance rates approximately 3% lower than the national average. |