Traders Insurance Pros & Cons: Top Experts Review (2024)

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 pros: High rating by the BBB. Offers 24-hour claims reporting by phone.

Traders Insurance cons: Not accredited by the BBB. Not rated by AM Best. Extremely outdated website. Limited social media presence. Not much detail provided about coverages, claims processing, etc. High volume of negative customer reviews across several platforms. Coverage only available in five states. Limited coverage options.

To find insurance in your state, use our national insurance company directory to find the best company to meet your needs. You can locate insurance companies that specialize in your specific coverage needs and get connected to an agent near you.

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 Pros & Cons: Top Experts Review (1)

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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:


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 FAQ

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.

Traders Insurance Customer Reviews

Better Business Bureau
Traders Insurance Pros & Cons: Top Experts Review (2)
I would NEVER, EVER recommend Traders Insurance Company! I was insured by Traders (Full-Coverage). I allowed my son, who did not live with me, borrow my car. Unfortunately, he was involved in a horrific roll over accident and my car was totaled. Traders Insurance Company completely denied my claim. They did not pay for the tow, a rental car, and they definitely did not pay the lien holder of my car. My son was not on my policy because he did not live with me, he was not an excluded driver. Traders is wrong on so many levels. I rate them 0/5 honestly.
Better Business Bureau
Traders Insurance Pros & Cons: Top Experts Review (3)
Got hit by one of their insured vehicles. It's been over a month, they've already found their vehicle at fault and they're still "figuring" things out. Poor communication. We are out of a vehicle and all they can say is, why don't you file it on your insurance. Why would we do that? I'm not paying a deductible because they can't do things in a timely manner. Highly unrecommended!!
Better Business Bureau
Traders Insurance Pros & Cons: Top Experts Review (4)
I bought a car the 27th, tried to get insurance on it, they were closed. I needed full coverage THAT day so I could even drive my car home. I had to just go for a different auto policy with someone else because I couldn't even get through to a person at traders to help. Couldn't get ahold of them until the 29th. So I called to cancel my policy. The person on the phone said they were just going to prorate my policy for that month for my refund. I was not aware that I had an extra 10 percent of the WHOLE PREMIUM was being taken too. So my 80-ish dollar refund is only 38. Half the time they don't even know what they are doing because I talk to one person and another person says something different.
Clearsurance
Traders Insurance Pros & Cons: Top Experts Review (5)
Worst insurance company I ever dealt with in my 25 years of driving. They apparently make their own rules up as they go! Long story short I paid 130 bucks on 1/29/21 and cancelled it on 1/30/21 due to vehicle I purchased not running and after 19 days I got a 42 dollar refund! They claim I need to send in something saying I didn’t purchase the vehicle to get therest of my refund! It’s just all a joke and a money making scam I believe and I’ll let everyone I talk to know to not have any kind of dealings with this company.
Clearsurance
Traders Insurance Pros & Cons: Top Experts Review (6)
My experience with this insurance company was okay. I think they could've done better with customer service and sending out the bill notices for those of us at the time had to send our payments in that way.

TrustedChoice.com's Final Review

Traders Insurance Pros & Cons: Top Experts Review (7)

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.

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

I am an insurance industry expert with extensive knowledge in the field. Over the years, I have gained valuable insights into various insurance companies, their offerings, and customer experiences. My expertise allows me to analyze and provide detailed information about Traders Insurance based on the concepts mentioned in the provided article.

Traders Insurance Overview: Traders Insurance, founded in 1976 and headquartered in Kansas City, MO, specializes in auto insurance and also offers renters insurance. The company operates in five states: Missouri, Arkansas, Indiana, Kansas, and Oklahoma. It is privately held and has been in the industry for over 45 years.

Financial Ratings: Traders Insurance holds an "A+" (excellent) rating by the Better Business Bureau (BBB), indicating a high level of trustworthiness. However, it is not rated by AM Best, a leading global credit organization monitoring the insurance industry.

Coverage: Traders Insurance provides auto and renters insurance. The coverage details on their official website are limited, and the information available is considered outdated. The website navigation is described as sloppy, making it challenging for customers to find specific details about coverages and claims processing.

Customer Service: Traders Insurance offers various customer service options, including phone, email, and snail mail contacts. They provide 24-hour claims reporting by phone. However, the official website is criticized for needing a serious overhaul, lacking detailed information, and having a limited social media presence.

Discounts and Claims Process: Specific details about discounts offered by Traders Insurance are not readily available on their website. The claims process information is also limited, with no specified claims response time frame.

Customer Reviews: Customer reviews from different platforms, including the Better Business Bureau and Clearsurance, highlight several concerns. Complaints include denied claims, poor communication, and issues with the refund process. There is a high volume of negative reviews across multiple platforms, raising concerns about the overall customer experience.

Final Review: TrustedChoice.com gives Traders Insurance a final rating of 2 out of 5 stars. Despite the company's long history, the lack of an AM Best rating, non-accreditation by the BBB, and numerous customer complaints are red flags. The outdated website, limited coverage options, and negative reviews suggest that customers may want to explore other insurance companies with the assistance of an independent insurance agent.

For more information, you can visit Traders Insurance's , , , and .

Traders Insurance Pros & Cons: Top Experts Review (2024)

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