Farmers vs. Hanover Insurance

Which insurance company is right for you? Compare coverage, pros & cons, and quotes from Farmers and Hanover.

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Farmers vs. Hanover: What You Need to Know

Farmers Insurance began selling insurance a year before the Great Depression and survived to become a household name. Founders John C. Tyler and Thomas E. Leavey started off by going farm to farm to gain their first policies. They specifically lowered rates for farmers and ranchers because they understood that these occupations posed fewer risks with their vehicles. By 1928, they were able to open an office in downtown Los Angeles. During the Great Depression, Farmers was one of the few companies that were able to pay claims. When a devastating earthquake hit Los Angeles, Farmers paid out claims for damaged cars and became the first insurance company to offer comprehensive insurance.

In 1852, The Hanover Fire Insurance Company opened in Manhattan at HanoverSquare. Author Washington Irving was one first investor. In 1864, while theU.S expanded West, The Hanover formed a general agency to service settlers. In 1866, 1800 buildings burned down in Portland, Maine. The Hanover paid all claims and helped rebuild the city. In 1871, the Great Chicago Fired destroyed more than three square miles of the city. There was $3 billion worth of losses, but the Hanover met all claim obligations. In 1872, a fire in Boston, Massachusetts burned down nearly half the city, but the Hanoverpaid all claims.

Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Farmers Overview and Hanover Overview.

Farmers vs. Hanover: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Farmers and Hanover. On average, Farmers charges approximately $256.19 per month while Hanover comes in at around $439.76 per month. For Farmers, the cheapest state average is Washington at $167.68 per month and the most expensive is Nevada at $364.26 per month. For Hanover, the cheapest state average is Illinois at $292.42 per month and the most expensive is Connecticut at $827.89 per month.

Farmers

Average Rate

$256.19
Hanover

Average Rate

$439.76
National

Average Rate

$133.56
State Farmers Hanover
Arizona $226.69 -
California $193.31 -
Connecticut- $827.89
Illinois $213.40 $292.42
Michigan $353.26 $427.94
Nevada $364.26 -
New Jersey- $565.94
New York- $431.33
Oregon $211.26 -
Washington $167.68 -

Farmers vs. Hanover: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Farmers and Hanover typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Farmers Hanover
1 Vehicle $241.36 $426.99
2 Vehicles $395.56 $665.68

Farmers vs. Hanover: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Farmers charges $288.08 per month and Hanover charges $586.96 per month for customers who own their home.

Own/Rent Farmers Hanover
Own $288.08 $586.96
Rent $250.08 $408.98

What is Farmers and Hanover Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Farmers and Hanover ranked among the industry ratings.

ComparisonFarmersHanover
Year Founded19281852
Market Share3%
A.M. Best RatingA-A
BBB RatingA+A+
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAbove Average
Moody’s RatingA2
NAIC Complaint Index0.81.28
S&P RatingAA

Farmers or Hanover: Insurance Products Offered

What coverage is available through Farmers and Hanover? Both insurance companies offer Auto, Commercial, Home, RV, and Umbrella insurance. Additional products from Farmers insurance also includes Life and Motorcycle insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Farmers and Hanover Insurance page.

InsuranceFarmersHanover
Auto Insurance
Commercial Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
RV Insurance
Umbrella Insurance

Farmers or Hanover: Ways To Save

Hanover offers a wide range of discounts to its policyholders, including Affinity Groups, Anti-theft Device, and Good Student discounts. Whereas, Farmers also offers a few discounts that Hanover doesn’t, including Transfer, Teen Driver, and Occupational discounts. Start taking advantage of discounts offered by insurance providers like Hanover and Farmers insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

FarmersHanover
Alternative Fuel DiscountAccident Prevention Course Discount
Distant StudentAffinity Groups
Electronic Funds Transfer (EFT) DiscountAnti-theft Device Discount
Good StudentGood Student Discount
Homeowner DiscountHanover Platinum Experience
Multi-Car DiscountMulti-Car Discount
Multi-policy DiscountNo-Fee Electric Funds Transfers
Occupational DiscountOne Bill
Pay-in-Full DiscountPay-in-Full Discount
Teen Driver DiscountStudent Away at School Discount
Transfer Discount

Pros & Cons of Farmers & Hanover

Pros

Farmers
  • Financial strength
  • Great employee education and customer service.
Hanover
  • The Hanover Insurance Group platinum coverages come in a great bundle.
  • Useful mobile app

Cons

Farmers
Hanover
  • The Hanover Insurance Group does not offer rideshare insurance or accident forgiveness options.
  • Very few discounts
  • Hanover Insurance is more expensive than most options and a lower customer service rating.
  • Hanover only writes auto insurance in 18 states.

Farmers or Hanover Mobile Apps Options

The Farmers app is available for iOS and Android. The Farmers Mobile App allows you access to self-service features.

The Hanover Mobile app is available for iOS and Android. With this app, you’ll be able to see vital policy information and billing information. You can also file a home or auto claim without making a phone call.

Farmers Mobile App
iOS     4.83K user reviews
Android     43K user reviews
Hanover Mobile App
iOS     3.517 user reviews
Android     2.621 user reviews

Farmers & Hanover Contact Info

Farmers Contact Info
Address6301 Owensmouth Avenue, Woodland Hills, CA 91367
Phone1 (800) 974-6755
Websitehttps://www.Farmers.com
Facebookhttps://www.facebook.com/FarmersInsurance/
Twitterhttps://twitter.com/WeAreFarmers
Youtubehttps://www.youtube.com/farmersinsurance
Linkedinhttps://www.linkedin.com/company/farmers-insurance/
Hanover Contact Info
Address440 Lincoln Street, Worcester, MA 01653
Phone1-508-855-1000
Websitehttps://www.hanover.com/
Facebookhttps://www.facebook.com/hanoverinsurance/
Twitterhttps://twitter.com/The_Hanover
Youtubehttps://www.youtube.com/channel/UCe9zQijKTBxGff55FKAvytg
Linkedinhttps://www.linkedin.com/company/the-hanover-insurance-group/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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