InsuredBetter's Traders Insurance Company Score
2 Stars
We award Traders Insurance Company a final rating of 2 out of 5 stars. Though the insurance company has nearly half a century's worth of experience in the insurance industry, they're still not rated by AM Best. And while Traders Insurance has a high rating through the BBB, they're not accredited by the organization and have had many complaints filed against them.
Traders Insurance offers 24-hour claims reporting, but does not list information about their claims process. Their official website is extremely simple and outdated. It's difficult to find much information about the carrier's coverage offerings. Coverage is also only available in five states currently.
What we're most concerned about, though, is the high volume of negative customer reviews across several platforms. So, overall we recommend looking into a different insurance company to meet your coverage needs with the help of an independent insurance agent, and skip looking into Traders Insurance.
Traders Insurance Company at a Glance
- Founded in 1976
- Coverage available in five states
- Offers auto and renters insurance
- Rated "A+" (excellent) by the Better Business Bureau (BBB)
- Not rated by AM Best
Traders Insurance Company Pros and Cons
| Pros: | Cons: |
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High rating from the Better Business Bureau (BBB)
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Not accredited by the BBB
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24-hour claims reporting available by phone
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Not rated by AM Best
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Extremely outdated website
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Limited social media presence
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Limited information provided about coverages and claims processing
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High volume of negative customer reviews across multiple platforms
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Coverage only available in five states
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Limited coverage options
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What Type of Insurance Does Traders Insurance Offer?
Here's a look at the insurance products offered by Traders Insurance.
- Auto insurance
- Renters insurance
Your independent insurance agent can help you find more information about the coverages offered by Traders Insurance, and help you decide if this insurance company is right for you.
What to Know about Traders Insurance
Founded in 1976, Traders Insurance has been in the insurance industry for more than 45 years. The insurance company specializes in auto insurance, but also offers renters insurance. They are headquartered in Kansas City, MO.
Traders Insurance currently offers its products in five states including Missouri, Arkansas, Indiana, Kansas, and Oklahoma. They are a privately held insurance company. The carrier's LinkedIn network shows a total of 96 employees.
Traders Insurance is not currently rated by AM Best, the leading global credit organization monitoring the insurance industry. However, the insurance company has a high "A+" or excellent rating by the BBB. There have been a total of 11 complaints filed against the carrier through the BBB in the past three years, though.
What Discounts Does Traders Insurance Offer?
Traders Insurance does not make information about its specific discounts readily available. However, an independent insurance agent can find these offers for you. Independent insurance agents work hard to find you the best coverage at the most affordable rate.
Traders Insurance Customer Service
Here's an overview of Traders Insurance's customer service options and availability.
- Phone contact option
- Email contact option
- Snail mail contact option
- 24-hour claims reporting
Customer service department has the following hours:
| Days | Hours (CT) |
| Monday-Friday | 8 am - 5 pm |
| Saturday | CLOSED |
| Sunday | CLOSED |
To ensure a great customer service experience, work together with an independent insurance agent. Independent insurance agents can help handle claims and other matters for you, so you can relax and enjoy your coverage.
Traders Insurance FAQs
What is Traders Insurance's average claim response time frame?
Traders Insurance does not specify a claims response time frame.
What is Traders Insurance's customer service availability?
Traders Insurance is available at regular hours, Monday-Friday, by phone. The carrier also has email and snail mail contact options.
What is Traders Insurance's claims process?
Traders Insurance does not list details about their claims process beyond how to file. They do allow claims to be filed 24-hours per day by phone. An independent insurance agent can also simplify the process by filing claims for you.
Does Traders Insurance create a user-friendly experience for customers?
Traders Insurance's official website needs a serious overhaul and update. The information provided is the bare minimum to create a website, navigation is sloppy, and none of the graphics are specific to the carrier, making for an overall unprofessional appearance. It's difficult to find much detail about their coverages, claims processing, etc. The carrier also has a limited social media presence, overall making for a poor user-friendly experience.
Does Traders Insurance have good auto insurance?
Traders Insurance does not provide any details about their coverage without contacting the carrier directly. The insurance company does state that its mission is to provide affordable auto insurance. An independent insurance agent can help you find more specific details about Traders Insurance's auto insurance.
Is Traders Insurance a good insurance company?
Traders Insurance is not currently rated by AM Best, but does have a good rating by the BBB. There are several complaints filed against the carrier through the BBB and all the customer reviews on that platform are 1-star only. So we're a bit hesitant to call Traders Insurance a good insurance company at this time.
Sources
https://tradersauto.com/history
https://www.bbb.org/us/mo/kansas-city/profile/insurance-companies/traders-insurance-co-0674-92020076/customer-reviews
https://www.linkedin.com/company/tradersinsurance/about/
https://clearsurance.com/insurance-reviews/traders-insurance-598335cb33ef680201e6e2ff
