Traders Auto Insurance Review: Ratings and Quotes (2024)

Traders sells affordable car insurance in five states, but it doesn’t advertise any discounts and has few endorsements available.

Elizabeth Rivelli
Elizabeth Rivelli
  • 5+ years writing insurance and personal finance topics

  • Auto, home, health, and life insurance expertise

Elizabeth has extensive insurance industry experience, having written for Insureon, Rate Retriever, and Insurify. She’s also finance and insurance editor for Car and Driver.

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Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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Updated October 10, 2023

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Traders Insurance Company sells car insurance in several Midwestern states. The company advertises competitively priced auto insurance policies on its website, including for drivers with poor credit. But you must get a quote and purchase coverage through a Traders agent.

If you’re considering a car insurance policy from Traders, it’s important to understand the company’s offerings, pros and cons, and average cost. Here’s what you need to know about Traders to help you decide if it’s the right insurance company for your needs.

Quick Facts
  • The average cost of a Traders insurance policy is $92 per month for liability only and $127 per month for full coverage.

  • Traders is only available in Arkansas, Indiana, Kansas, Missouri, and Oklahoma.

  • Traders advertises quick, friendly service to drivers.

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What is Traders auto insurance?

Traders started in 1976 and is based in Kansas City, Missouri. Traders only sells car insurance and renters insurance policies in five states: Arkansas, Indiana, Kansas, Oklahoma, and Missouri.[1]

One of the standout features of Traders is its commitment to competitive pricing. Traders was one of the first insurance companies to sell specialty insurance products to customers looking for low-cost coverage, including drivers with bad credit or a poor driving record.

Traders pros and cons

Pros
  • Affordable average rates: Traders has average auto rates cheaper than the national average.

  • Online claims: Traders customers can submit car insurance claims online after an accident or other covered loss.

  • Comprehensive roadside assistance: Traders sells 24/7 roadside assistance with robust coverage for towing, flat-tire changes, fuel delivery, lockouts, and more.

Cons
  • No online quotes: Traders doesn’t offer instant online rate quotes, so you must work with an agent to get a quote and purchase a policy.

  • Few endorsements: Traders only sells a few optional add-ons, so it may not be the best insurer if you want to customize your policy with endorsements.

  • Limited availability: Currently, Traders only sells auto insurance policies in Arkansas, Indiana, Kansas, Oklahoma, and Missouri.

Average cost of Traders auto insurance

The average cost of car insurance from Traders is $127 per month for full coverage and $92 per month for liability-only insurance.

Compared to the national average, Traders has more affordable rates. The average American pays $215 per month for full coverage and $104 per month for liability-only insurance.

Traders car insurance coverage

Traders offers minimum-coverage policies that meet state liability laws, as well as full-coverage car insurance. A basic full-coverage auto policy includes personal liability insurance, collision insurance, comprehensive insurance, and medical payments insurance.

Traders also sells personal injury protection and uninsured/underinsured motorist insurance, which are legally required in some states.

In addition to the required coverage, Traders offers several endorsements for added protection. You can purchase roadside assistance, rental car reimbursement, and special equipment coverage to supplement a full-coverage policy.

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Traders car insurance cost by state

Car insurance requirements and costs vary based on your state and ZIP code. Some of the location-based factors that can affect car insurance rates include population density, accident rates, vehicle theft rates, and minimum-coverage laws.[2]

Traders only underwrites car insurance in five states. In the table below, you can see the average monthly cost of Traders car insurance in the states where it operates.

StateAverage Quote: Full CoverageAverage Quote: Liability Only
Arkansas$158$101
Indiana$109$70
Kansas$137$78
Missouri$118$101
Oklahoma$113$109
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Traders auto insurance rates by driving history

Car insurance prices can change based on your driving history. In general, drivers with a clean record pay the lowest rates for coverage. If you have speeding tickets, at-fault accidents, or a DUI conviction on your record, you’ll likely pay much higher rates for car insurance.

Below, you can see the average monthly cost of Traders car insurance based on driving history.

Driving HistoryAverage Quote: Full CoverageAverage Quote: Liability Only
Clean record$118$85
With speeding ticket$158$114
With at-fault accident$168$122
With DUI$183$132
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Traders car insurance cost by age

The price of car insurance will also vary depending on your age. Young drivers typically pay the most expensive rates because they lack experience and have a higher accident rate than older people.[3] Young drivers usually see their rate decrease in their 20s, assuming they maintain a clean driving record.

Below, you can see the average monthly full-coverage car insurance rate from Traders for drivers of different age groups.

Age GroupAverage Monthly Quote
Teens$213
20–29$151
30–39$119
40–49$113
50–59$99
60–69$92
70–79$94
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

How to get a Traders car insurance quote from Insurify

You can’t get a personalized rate quote on Traders’ website, but you can get a Traders car insurance quote from Insurify. Here’s how you can get a Traders car insurance quote through Insurify:

  1. Visit Insurify’s website and click “Compare Quotes.”

  2. Submit the form with information about your vehicle, main use, mileage, and more.

  3. Review your matches, then select “Get a Quote” next to Traders Insurance.

  4. Compare quotes from other insurance companies to find the best one for you.

When you get a quote from Insurify, your list of suggested insurance companies will allow you to compare Traders with other insurers. Comparing car insurance quotes can help you get the cheapest rate for your situation.

Traders car insurance discounts

Traders doesn’t advertise any car insurance discounts online. However, you might be able to save money by paying your annual premium in full or enrolling in automatic payments. Talk to a Traders agent about what discounts you may be able to take advantage of.

Traders insurance bundling options

Traders sells car insurance and renters insurance, called the Renters Value Plan (RVP). While the company doesn’t advertise policy bundling online, you could potentially save money by purchasing car insurance and renters insurance together. A Traders agent can explain what bundling options are available, if any.

Traders Insurance reviews and ratings

Because Traders is a small, local insurance company, it has fewer third-party ratings than most national insurance companies. However, reading Traders reviews can give you a better idea of what current and past customers think about the company.

Traders customer reviews

Traders has an A+ grade from the Better Business Bureau (BBB). But many customers submitted complaints about unresponsive customer service agents, payment-related issues, and problems with claims.

Traders Insurance ratings

Most prominent third-party organizations, like AM Best or J.D. Power, haven’t rated Traders. However, it does have a small number of complaints. Traders has fewer complaints than expected for its size, according to the National Association of Insurance Commissioners (NAIC) Complaint Index. Traders’ index is 0.99, just below the national complaint index of 1.

  • Better Business Bureau: 1/5 stars

  • NAIC Complaint Index: 0.99

Traders vs. other insurance companies 

Plenty of car insurance companies are on the market, and each one has pros and cons when it comes to coverage options, cost, and more. See how Traders compares to some other popular car insurance companies below.

Insurance CompanyLiability OnlyFull CoverageIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Traders$92$127N/A
Sun Coast$91$168N/A
GEICO$54$1184.4
Auto-Owners$38$814.3
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use data from AM Best, S&P, Moody's, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 20,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

Traders vs. Sun Coast

Sun Coast is a much larger insurance company than Traders, with more than 550,000 customers and a variety of insurance products, including home insurance, boat insurance, and business insurance.

Like Traders, Sun Coast has a relatively small coverage area. You can only purchase insurance from Sun Coast in Arizona, Alaska, California, Colorado, Florida, Hawaii, Nevada, Oregon, Texas, Utah, and Washington.

In terms of cost, Sun Coast’s average minimum-coverage rate is almost identical to Traders’ average rate, but Sun Coast’s average full-coverage premium is more expensive. However, Sun Coast offers many car insurance discounts, which Traders doesn’t advertise.

Traders vs. GEICO

GEICO is a well-known insurer that sells auto insurance across the U.S. GEICO stands out for its affordable prices, which are even lower than Traders’ average premiums. GEICO’s average minimum-coverage rate is $54, and its average full-coverage rate is $118.

In addition, GEICO offers a variety of car insurance discounts. It has savings for good students, safe drivers, military personnel, federal employees, insuring a car with safety features, bundling policies, and many others.

GEICO and Traders are similar in that both companies offer very few endorsements. GEICO sells roadside assistance, rental car reimbursement, and mechanical breakdown insurance. Traders also offers three endorsements, so neither company is ideal for customization.

Traders vs. Auto-Owners

Auto-Owners is a highly rated car insurance company with excellent financial strength. Auto-Owners sells more than a dozen insurance products, including car insurance. The company offers a variety of optional coverages, as well as generous discounts for premium savings.

One of the similarities between Auto-Owners and Traders is that both insurers require you to work with an agent to get a quote and purchase a policy. However, you can manage your policy online and file claims online with both companies.

Auto-Owners has a much larger coverage area than Traders, but it doesn’t sell insurance nationwide. Auto-Owners currently operates in 26 states.

How to file an auto insurance claim with Traders

If you get into an accident or your car sustains damages in a covered loss, you can file a claim with Traders for reimbursement.

Some car insurance policies, like collision and comprehensive insurance, require you to pay a deductible before the company will cover repairs. Traders allows you to file claims online or over the phone with an agent.

Here’s the general process for filing a Traders insurance claim:

  1. Visit the claim webpage or call 1 (800) 383-1357 to file a claim over the phone.

  2. If filing online, enter your policy number.

  3. Complete the claim form, providing as much information as possible about the incident.

  4. Wait for your claim settlement.

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Traders insurance FAQs

Looking for more information about Traders? Check out these frequently asked questions.

  • Is Traders Insurance legitimate?

    Yes. Traders is a legitimate insurance company. Traders sells car insurance and renters insurance in Arkansas, Indiana, Kansas, Oklahoma, and Missouri, so it has a very small coverage area and limited offerings. Customers in Traders’ coverage area can purchase insurance through a local agent.

  • Is Traders car insurance worth it?

    Traders car insurance might be worth it for drivers who want affordable coverage. Based on Insurify data, Traders has cheaper average premiums than the U.S. national average and some of its competitors. However, Traders only offers two insurance products, and it has very limited endorsements and discounts.

  • What is the average cost of Traders car insurance?

    The average cost of Traders car insurance is $92 per month for liability-only insurance and $127 per month for full coverage. Traders’ average rates are much cheaper than the national average rate.

  • Who owns Traders Insurance?

    Traders Insurance Company is privately owned and sells policies exclusively through independent insurance agents.

  • Who should get Traders Insurance?

    Traders insurance can be a good option for high-risk drivers or people looking for affordable auto insurance in Arkansas, Indiana, Kansas, Oklahoma, or Missouri. Because Traders offers very few endorsements, it’s best for drivers who need basic minimum-coverage or full-coverage insurance and aren’t looking to customize their coverage.

  • Is Traders Insurance good at paying claims?

    Traders doesn’t have any financial stability ratings from organizations like AM Best or Moody’s, so it’s difficult to determine if the company can meet financial obligations and pay claims. However, the company has some BBB complaints about its poor claim-handling process, which is something to keep in mind if you’re considering this company.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Traders Insurance. "Meet The Company."
  2. III. "What determines the price of an auto insurance policy?."
  3. Centers for Disease Control and Prevention. "Teen Drivers and Passengers: Get the Facts."
Elizabeth Rivelli
Elizabeth Rivelli

Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com

Courtney Mikulski
Edited byCourtney MikulskiSenior Editor, Auto
Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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