No, Traveler insurance is not owned by Geico, although the two companies do some business together. Geico owns a subsidiary called Geico Insurance Agency, which sells policies from a variety of companies, including Travelers. Both Travelers and GEICO are popular names in the auto insurance industry, but they have some significant differences. Depending on your age, driving history, and other unique factors, you may choose one provider over another for cheaper premiums and better coverage options.
Let's take a closer look at the two companies to help you decide which one is right for you. GEICO generally offers lower monthly rates and has better financial ratings than Travelers. Travelers has a long history in the U. S.
insurance market and continues to serve customers through a network of independent agents. According to data from Insurify, having an accident affects your car insurance premiums with Travelers less than a speeding ticket. GEICO and Travelers also offer other types of vehicle coverage, such as boat, recreational vehicle and motorcycle insurance. Traveler insurance has a lower NAIC complaint rate and a more substantial rating in Consumer Reports. So, if you're looking for GEICO home insurance quotes, keep in mind that GEICO has its own insurance agency that sells home insurance, but doesn't write the policy.
As you can see, GEICO has lower insurance premiums than Travelers for drivers of all ages, although the difference narrows as drivers age. If you take advantage of the various car insurance discounts offered by Travelers and GEICO, such as multiple policies, you can pay even less. GEICO offers lower car insurance quotes for more categories of drivers than Travelers and has higher customer satisfaction rates. Whether you're looking for basic personal injury and property damage liability insurance or comprehensive coverage, Travelers has plenty of options. Traveler insurance is more affordable for older married drivers, but GEICO is cheaper for single male drivers age 25 and younger.
If you drive Uber or Lyft, you'll have better luck finding coverage with GEICO, as Travelers only insures ride-sharing workers in two states. According to Insurify data, gender and annual mileage don't seem to affect the average car insurance rates for both Travelers and GEICO. Having a DUI record has the biggest impact on your car insurance quotes with both Travelers and GEICO. Heck, if you end up saving money by switching home insurance companies to what you thought were GEICO or Progressive, you can still consider it a “win” because at the end of the day, insurance is becoming a kind of commodity anyway. So if you're trying to decide between Travelers and Geico for your auto insurance needs, it's important to compare car insurance quotes before purchasing a policy. Consider your age, driving history, financial ratings of each company and other unique factors to determine which provider is right for you.