Key vs. Travelers: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Travelers offers significantly less expensive premiums than Key
• Travelers may help you save more money -- they offer more discounts than Key Insurance Company
• Travelers offers cheaper average rates for single people who will be the only person on the auto insurance policy

Key or Travelers: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You might be considering Key or Travelers as your top options, but which one has more affordable premiums for insurance?

Looking at the national average rates for both carriers, Key has average rates that are around 40% a month more expensive than those from Travelers.

But that doesn't necessarily mean Travelers will be the less expensive option for each driver. After all, car insurance companies can offer drastically different rates to every driver depending on rating factors like your driving record, your credit score, where you call home, or even your age (among other things). So, at the end of the day, prices from each carrier will differ quite a bit from person to person.

Luckily, we've broken down average rates from both Key and Travelers by a range of different rate factors, so read on to find out which company is the best for you.

Key vs. Travelers: Average Car Insurance Rates by State

Key and Travelers only compete against each other in Nevada, where Travelers offers the cheaper average premiums. Travelers drivers tend to pay about $106 per month less on average compared to drivers who use Key for their auto insurance.

But there's more to calculating car insurance rates than just where you live. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for insurance than any group out there on the road. It's generally because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean that teen drivers have to just accept sky-high car insurance prices. As you can see above, teens who use Travelers save almost 50% a month compared to those who use Key.

However, both carriers will drop rates once you turn 25. Travelers offers the steepest decrease, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Key's average prices lower over 65% during that same period.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable premiums you'll ever see.

When looking at Key and Travelers specifically, which carrier is best for retired drivers? Travelers gets the edge, with prices for drivers 65 and older more than 40% more affordable than the national average for Key.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are typically cheaper for married policyholders than they are for those who are single? That's normally because married drivers tend to own and insure multiple vehicles, which can often earn you a discount.

For single drivers, the difference in average premiums between these two companies is significant, with Travelers prices coming in at about half of Key's. The advantage is also clear for married couples - Travelers offers the cheapest average rates.

Key or Travelers: Average Rates by Gender

Because women are less likely to get speeding tickets and get into accidents, they are less likely to file a claim with insurance. So, women typically pay less for insurance than men.

On average, men see premiums around $55 per month higher with Key, and about $10 with Travelers.

Looking at overall affordability, Travelers offers the lowest average prices for both men and women. On average, women save about $97 a month and men save around $139 with Travelers compared to the average Key policyholder.

Key vs. Travelers: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Car insurance can be a complicated subject for most people. There are so many different coverages and terms that it can make it pretty confusing to find the right policy for you.

The two most common policies end up falling into two different types of coverage -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with liability coverage).

Looking specifically at state minimum limits for liability insurance, Travelers has the significant edge, with average monthly premiums coming in at $108. If you want a full coverage policy with the same state minimum limits, Travelers again has the edge, with policies averaging about $225 per month to Key's $373.

Is Key or Travelers Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance carriers offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

At-fault collisions and speeding tickets will most likely raise your premiums, but is Key or Travelers more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Key insurance policies don't report seeing their rates increase after getting a ticket, but Travelers policyholders can expect to see their monthly bill increase by around 20%.

That being said, Travelers has cheaper prices for drivers in both categories. Drivers with a clean record can save about 39% a month with Travelers, and the same can be said for those with a speeding ticket, too.

Which Company is Best for Drivers After an Accident?

Key drivers who get in an accident can expect to see their premiums climb by over 10%, while those who have insurance through Travelers will see around a 25% increase.

At the end of the day, drivers who use Travelers end up with the cheaper prices after an accident, with average prices coming in at $173 compared to Key Insurance Company's $235.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or ticket when it comes to your car insurance bill. For example, Key increases average rates by more than $250 per month -- that's more than a 55% increase.

How does Credit Score Impact Key and Travelers Rates?

You may not have known, but your credit score can come into play when companies determine your monthly bill. This isn't true for everyone (for example, Hawaii and California are two states that ban the practice entirely), but it will come into play for lots of policyholders.

Auto insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

So, which company offers the best prices for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Key or Travelers Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a big impact on your monthly premiums? That's because the fewer miles you put on your vehicle each year, the less likely you are to be in a collision and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Key charges. However, there's a small difference in monthly rates for Travelers, with policyholders who drive the least paying about $5 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, Travelers is the less expensive carrier.

Key or Travelers: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a considerable role in how much you pay for insurance. Normally, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer cars on the roads where they live.

Travelers tends to offer the most affordable rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

If you live in a rural area, you can expect to pay around $136 monthly with Travelers compared to Key's $234. Drivers in suburban ZIP codes pay a monthly price of about $160 with Travelers compared to $234 with Key. For drivers in urban ZIP codes, Travelers's average premiums are around $204 while Key offers prices about $386.

Key vs. Travelers Discounts

You want to save as much money as you can, right? The best way to do that is by utilizing as many auto insurance discounts as possible.

The challenging part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and looked at all of the different discounts Key and Travelers offer their customers so that you can see which carrier can save you the most money each month.

Travelers blows Key away when it comes to the sheer amount of discounts available, offering 25 different discounts to Key's four.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for insuring multiple cars with the same company, and passive restraint discounts. Travelers also offers discounts for ABS, advance quote, alternative fuel, and more.

Key's discounts come through just a few categories, including Defensive Driver, Good Driving, Multi-Car, and more.

Final Thoughts: Is Key or Travelers Best for You?

So, we've broken down the average rates for many of the factors car insurance companies look at, and we've shown you all the discounts each company offers. That's all well and good, but at the end of the day, is Key or Travelers the best company for you and your specific profile and needs?

Travelers might be best for you if....

• You've received a ticket for speeding recently and don't want to see your premiums rise.
• You want the most robust protection via a "full coverage" policy.
• You don't spend much time in your car.

Key might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide helps you get a good idea of the differences between Key and Travelers and that it aids in making a more informed decision about your auto insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on car insurance -- comparing quotes from a handful of carriers, not just Key and Travelers. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.

Key vs. Travelers FAQs

Is Key or Travelers cheaper?

Travelers is the more affordable of the two carriers when looking at national average rates, with policies averaging $167 a month with Travelers and $285 for Key. But that doesn't mean Travelers will be the cheapest carrier for every driver, since there are a bunch of different variables that are considered when it comes to your auto insurance cost.

Who is better, Key or Travelers?

Unfortunately, the only answer we can give you is "it depends.". No one company is necessarily "better" for everyone -- it all depends on the makeup of your unique insurance profile.

Why do Key and Travelers offer me different rates?

Car insurance companies use a lot of different factors when determining the prices they charge. Variables such as gender, your driving record, age, where you call home, and sometimes even things like your credit score can all be used. Both Key and Travelers calculate rates differently, so it's likely they'll offer different prices. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from multiple different carriers.

How do I know if Key or Travelers is right for me?

The only way to find the insurance company that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top auto insurance carriers for free. That way, you can guarantee you're getting the best premium. And maybe you'll find that the best carrier for you isn't Key or Travelers at all, but another you hadn't even thought of!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.