Traders Car Insurance Review & Ratings (2024)

The comprehensive guide on Traders Car Insurance provides a thorough examination of the company’s specialization in non-standard auto insurance for high-risk drivers across five U.S. states. Traders is positioned as a cost-effective solution, particularly for those facing difficulties obtaining coverage from traditional insurers due to factors such as DUI convictions, traffic violations, or lapses in coverage.

The company offers minimal coverage, excluding comprehensive or collision options, but focuses on meeting state minimum requirements. The article emphasizes the importance of shopping around for the best rates and coverage tailored to individual needs.

Traders Insurance’s claims handling is discussed, highlighting convenient online and phone options, though customer feedback on claim resolutions varies. The digital features, including a mobile app and online account management, are explored. While the company has an A+ rating with the Better Business Bureau, some policyholders express concerns about certain claims.

The guide concludes by suggesting that high-risk drivers in Traders’ operating states consider the company but advises shopping around for the most affordable non-standard car insurance coverage.

What You Should Know About Traders Insurance

Welcome to our comprehensive guide on Traders Car Insurance and everything you need to know about obtaining coverage for high-risk drivers. In this article, we will delve into the key topics surrounding Traders Car Insurance, including their specialty in providing non-standard policies, coverage options, filing claims, customer reviews, and more. If you’re a high-risk driver seeking affordable car insurance, you’re in the right place.

• Traders Insurance specializes in non-standard auto insurance coverage in five U.S. states
• Traders Insurance advertises as a cost-effective solution for car and renters insurance coverage
• Traders Insurance has an A+ rating with the Better Business Bureau

To ensure you find the best rates and coverage tailored to your needs, enter your ZIP code now and compare quotes from top insurance providers. Don’t miss out on the opportunity to secure the ideal car insurance solution with Traders Car Insurance.

Traders Insurance Coverage Options

As a company that offers specialty insurance products, Traders markets itself as a provider of non-standard car insurance policies for high-risk drivers. Traders insures individuals in Arkansas, Kansas, Missouri, Oklahoma, and Indiana.

High-risk drivers often find it difficult to find car insurance coverage from popular insurance companies. This is because a lot of companies refuse to insure someone who is considered a non-standard policyholder.

Reasons a person is considered a high-risk driver include:

• You’ve been convicted of a DUI or DWI
• You have a number of parking or traffic tickets
• You’ve filed claims for multiple accidents
• You’ve been told you need SR-22 insurance
• You’ve had a lapse in car insurance coverage
• You have poor credit
• You’re a new or young driver

If you’ve recently been in a car accident and your car insurance rates have drastically increased—or if you’ve lost your insurance coverage altogether—you may be interested in a company like Traders.

On the company website, Traders Insurance states that its car insurance coverage will help you if:

• Someone is injured in a car accident
• Your vehicle is stolen
• Someone is in a car accident but does not have proper insurance coverage

While the coverage Traders offers is minimal and does not include comprehensive or collision options, it may be a great option for certain high-risk drivers that are just looking to meet their state’s minimum car insurance requirements.

In addition to car insurance coverage, Traders Insurance offers renters insurance, towing and labor coverage, and roadside assistance.

Traders Insurance Rates Breakdown

You will not find a Traders Insurance quote on the company’s website. Instead, you will need to speak to a Traders agent to learn more about the company’s insurance rates in your area. The table below shows the average annual car insurance rates with different companies in the states where Traders Insurance offers car insurance coverage.

Average Car Insurance Rates in States Where Traders Offers Coverage

While these rates are simply an average, you can assume that your car insurance rates will be higher than average in your state if you are considered a high-risk driver.

Traders Insurance Discounts Available

When considering car insurance, potential policyholders often seek ways to reduce their premiums. Traders Car Insurance, specializing in non-standard coverage for high-risk drivers, may offer various discounts to make insurance more affordable. Let’s explore the discounts provided by Traders Car Insurance.

• Multi-Policy Discount: Traders Car Insurance may offer a Multi-Policy Discount, encouraging customers to bundle their car insurance with other policies such as renters insurance. This discount can lead to overall cost savings for individuals looking to secure multiple types of coverage.
• Safe Driver Discounts: Safe driving habits are often rewarded by insurance companies. Traders may provide Safe Driver Discounts for policyholders with a clean driving record. This discount serves as an incentive for maintaining safe practices on the road.
• Multi-Car Discount: For households with more than one vehicle, Traders Car Insurance may offer a Multi-Car Discount. This discount encourages customers to insure multiple cars under the same policy, resulting in potential cost savings for each vehicle.
• Good Student Discount: Recognizing the importance of education, Traders may provide a Good Student Discount. This discount is typically available to young drivers who maintain good grades, encouraging academic excellence while reducing insurance costs for students and their families.
• Anti-Theft Device Discount: To enhance the security of insured vehicles, Traders Car Insurance may offer an Anti-Theft Device Discount. Policyholders installing approved anti-theft devices in their cars may qualify for reduced premiums, promoting both safety and cost savings.
• Payment Discounts: Traders may provide discounts based on payment preferences. Policyholders opting for automatic payments or paying their premiums in full upfront may be eligible for Payment Discounts, streamlining the payment process while enjoying potential cost benefits.

Understanding the available discounts can significantly impact the affordability of car insurance with Traders. Policyholders should inquire about these discounts and assess their eligibility to maximize potential savings. It’s recommended to discuss discount options with a Traders agent when obtaining a quote to ensure accurate information based on individual circumstances.

Evaluating Claims Handling: Traders Car Insurance

Ease of Filing a Claim

Traders Car Insurance understands that the claims process can be a crucial aspect of your insurance experience. They offer convenient options for filing a claim, allowing policyholders to choose the method that suits them best.

You can file a claim with Traders through their user-friendly online portal, or if you prefer a more personal touch, you can reach out to a Traders Insurance representative over the phone. Additionally, their mobile app may provide additional accessibility for claim submissions.

Average Claim Processing Time

Traders Insurance is committed to providing efficient claim processing to minimize any disruptions to your life. While specific processing times may vary depending on the nature of the claim, Traders aims to streamline the process and ensure that your claims are handled promptly. The company understands the importance of timely resolutions for their policyholders.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback plays a pivotal role in assessing an insurance company’s performance. While Traders Car Insurance does not have a current rating from A.M. Best, they maintain an A+ rating with the Better Business Bureau.

However, it’s worth noting that on the BBB website, some policyholders have expressed concerns about certain claims that they believed should have been covered. Understanding the experiences of existing customers can provide valuable insights when considering Traders Insurance for your needs.

Unveiling Cutting-Edge Digital and Technological Features by Traders Car Insurance

Mobile App Features and Functionality

Traders Insurance offers a mobile app that extends the convenience of managing your insurance policies on the go. The app likely includes features such as policy information access, claim submission, and possibly even real-time updates on your coverage. It’s essential to explore the app’s functionalities to see how it can enhance your insurance experience.

Online Account Management Capabilities

Managing your insurance policies online has become a standard expectation for many customers. Traders Insurance recognizes this need and provides an online account management platform.

This platform likely allows you to access policy documents, make payments, and update your information with ease. Exploring the capabilities of their online account management system can help you make the most of your Traders Car Insurance policy.

Digital Tools and Resources

In the digital age, having access to valuable tools and resources can empower policyholders to make informed decisions. Traders Insurance may offer a range of digital resources, such as educational materials, insurance calculators, and informational guides. These resources can be invaluable in helping you understand your coverage and make choices that align with your needs.

How Traders Insurance Ranks Among Providers

When seeking non-standard car insurance, it’s essential to explore various options to ensure you find the coverage that best suits your needs. Traders Car Insurance, specializing in high-risk drivers across five U.S. states, has its unique offerings. Let’s delve into its main competitors to provide a comprehensive overview.

• The General Insurance: The General Insurance is a prominent player in the non-standard auto insurance market, catering to drivers with a history of accidents, violations, or poor credit. Operating in multiple states, The General is known for providing quick quotes and accessible coverage for high-risk drivers.
• Infinity Insurance: Infinity Insurance is another competitor specializing in non-standard auto insurance, serving a diverse range of drivers, including those with challenging driving histories. With a presence in various states, Infinity aims to provide affordable options for individuals facing difficulties obtaining coverage elsewhere.
• Dairyland Insurance: Dairyland Insurance is recognized for its focus on high-risk drivers, providing coverage for individuals with a challenging driving history. Operating in several states, Dairyland aims to offer solutions for those who may face difficulties securing insurance from traditional providers.
• Direct Auto Insurance: Direct Auto Insurance targets non-standard and high-risk drivers, emphasizing accessibility and flexibility in coverage. With a focus on providing options for individuals facing challenges in obtaining affordable insurance, Direct Auto operates in various states.

While Traders Car Insurance caters to high-risk drivers in its operating states, exploring alternatives such as The General Insurance, Infinity Insurance, Dairyland Insurance, and Direct Auto Insurance is crucial. Each competitor has its unique features and customer feedback, allowing individuals to make informed decisions based on their specific needs and preferences.

It’s recommended to obtain quotes and carefully assess the coverage and customer satisfaction offered by these competitors to find the best fit for non-standard car insurance.

Does Traders Insurance have good ratings and reviews online?

Traders Insurance does not have a current rating with A.M. Best, but the company has an A+ rating with the Better Business Bureau. On the BBB website, Traders policyholders have given the company one out of five stars, citing accidents they felt should have been covered by the company.

Should I buy non-standard car insurance with Traders?

If you are a high-risk driver and you live in one of the five states in which Traders operates, you may want to consider Traders Insurance for your car insurance needs. But you should still shop around online to find the best and most affordable non-standard car insurance coverage you can.

Be sure to use our free quote tool below to access quotes from the best car insurance companies in your area to get started.