Traders Car Insurance Review & Ratings (2022)

Traders Insurance offers car insurance coverage to non-standard drivers. The coverage options Traders Insurance offers are minimal, but they meet the required state minimums for car insurance in Arkansas, Kansas, Missouri, Oklahoma, and Indiana. Traders Insurance has an A+ rating with the Better Business Bureau.

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Written by Chris Tepedino
Insurance Feature Writer Chris Tepedino

Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent Laura Walker

UPDATED: Jun 28, 2022

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The Rundown

  • 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

If you are considered a high-risk driver by most car insurance companies, you will probably have to do some digging when it comes to finding affordable auto insurance coverage that meets your needs.

Traders Insurance is one company that claims to meet non-standard drivers’ needs without breaking the bank.

Before you purchase car insurance, you should search for free insurance quotes online so you can compare prices and make sure you’re not paying too much for coverage.

In fact, you can use our free quote tool above to find and compare non-standard car insurance rates from the best companies near you to see how much you should plan on paying.

What car insurance coverage does Traders Insurance offer?

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.

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How much is car insurance with Traders?

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

StateAverage by StateAllstateAmerican FamilyFarmersGEICOLiberty MutualNationwideProgressiveState FarmTravelersUSAA
Arkansas$4,124.98$5,150.03-$4,257.87$3,484.63-$3,861.79$5,312.09$2,789.03$5,973.33$2,171.06
Indiana$3,414.97$3,978.81$3,679.68$3,437.55$2,261.07$5,781.35-$3,898.00$2,408.94$3,393.75$1,630.86
Kansas$3,279.62$4,010.23$2,146.40$3,703.77$3,220.65$4,784.42$2,475.59$4,144.38$2,720.00$4,341.43$2,382.61
Missouri$3,328.93$4,096.15$3,286.90$4,312.19$2,885.33$4,518.67$2,265.35$3,419.14$2,692.91-$2,525.78
Oklahoma$4,142.33$3,718.62-$4,142.40$3,437.34$6,874.62-$4,832.35$2,816.80-$3,174.15
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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.

Is it easy to file a claim with Traders?

Traders Insurance claims are simple and easy to file, as you can do so on the company’s website or with a Traders Insurance representative over the phone.

You can also access your Traders Insurance cards and make any necessary Traders Insurance payments on the company’s website as well.

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.

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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.

Reviews
for Traders Insurance

4.03 (14 reviews)
1
February 19, 2021

JeannieMarie_

Money thief’s

Worst insurance company I e 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 the rest of my refund! It’s just all a joke and a money making scam i believe and I’ll ...
Worst insurance company I e 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 the rest 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
5
January 19, 2020

Bunga83

Amazing company!!!

After my husband passed and my father was diagnosed with cancer, i found myself in a bind, Over drawn at the bank and feeling completely lost, i contacted my agent who said no problem i have a company who will work with you till you get back on your feet!! Immensely relieved, i paid litres than half my current payment, and walked out off the office without a lapse in coverage. Thank you Trader's. Your great!!
4
September 6, 2018

25imartinez

Affordable and great customer service

So far no issues and i intend to stay with them for a good while. I recommend them due to how affordable and quick they are with their responses to any questions i have.
3
July 26, 2018

JayAmor30

Better Customer Service

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.
4
July 17, 2018

JR2018

Finally Decent customer service

i love the customer service they are very easy to contact and troubleshoot and guess what you barely have to deal with an automatized receptionist , if they are not available they get back tome within 24 hours, i love that the office is right into town so if ever needed i can just go visit during office hours
5
May 5, 2018

drgoon

Great company only $30/mont

This company is great I pay very little and have never had any problems with the company they are great and hope I never need them.
5
March 1, 2018

Bobbie214

Satisfied Traders Policy Holder

Very reasonable rates and options for selecting your policy. 1 month- 1 year. The first time you pay for your insurance ot must be with a money order. Which for me was ok since thats how i pay most all my bills anyway. So far very satisfied and cheaper than Progressive who i had been with previously
5
February 8, 2018

Stacyprenot

New to them

So far really great! Very friendly, helpful and the best deal I could find! Easy setup easy payment options.
5
January 27, 2018

paint

auto insurance

excellent company to work with and reasonable rates cheapest auto insurance is the company i go thru in tulsa they are pro active in taking of my needs
5
January 10, 2018

KaylaG

Good Company

They were a great company, we just found something a little cheaper. If we had not found anything cheaper we definitely would have stayed with them.
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