Hanover vs. Chubb Insurance

Which insurance carrier is right for you? Compare pros & cons, savings, and quotes from Hanover and Chubb.

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Hanover vs. Chubb: What You Need to Know

From 2003-2007, the Wall Street Journal ranked The Hanover Insurance Companies #1 in the property and casualty industry for increasing shareholder value over a 5-year-period. In 2009, The Hanover acquired commercial business from OneBeacon Insurance Group, which enabled rapid Western U.S. expansion. In the same year, A.M. Best upgraded its company rating to “A” (excellent). From 2010 to 2011, it continued to acquire more businesses both in the U.S. and abroad, which included Lloyd’s of London Chaucer Holdings. In 2013, The Hanover exceeded $5 billion worth of written premiums and wrote business in 179 countries. In 2015, Standard & Poor’s upgraded the company’s financial rating to “A” and The Hanover was recognized by Forbes as one of America’s best employers and one of America’s most trustworthy financial companies.

In 1882, Thomas Caldecot Chubb and his son Percy, founded Chubb & Son in New York City selling with marine insurance. In 1901, Percy organized the Federal Insurance Company, writing marine insurance and expanded into fire two years later. The company acquired control of U.S Guarantee Company in 1921 and they opened their first branch outside the U.S in Montreal, Canada in 1928. In the year 1967, the company changed its name to Chubb Corporation and at the same time, they acquired the Pacific Indemnity Companies. In 1984 Chubb was listed on the New York Stock Exchange and their business expanded overseas by 1990. In 2012, after Superstorm Sandy, Chubb settled the highest number of claims in the company's history. Ace Limited and Chubb became one company and adopted the Chubb name by 2016. Today, Chubb is the world’s largest publicly traded P&C insurance company and the largest commercial insurer in the U.S, operating in 54 countries and provides property and casualty insurance to businesses and individuals, including personal products such as auto, home, travel, natural disasters, valuables, boats & yachts, cyber and life & health protection.

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

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

Below is a list of the average rates that drivers typically pay with Hanover and Chubb. On average, Hanover charges approximately $461.32 per month while Chubb comes in at around $223.68 per month. For Hanover, the cheapest state average is Massachusetts at $200.90 per month and the most expensive is New Jersey at $643.63 per month. For Chubb, the cheapest state average is Washington at $119.96 per month and the most expensive is New York at $344.04 per month.

Hanover

Average Rate

$461.32
Chubb

Average Rate

$223.68
National

Average Rate

$120.30
State Hanover Chubb
Arkansas $407.59 -
Connecticut $465.70 -
Illinois $496.17 -
Indiana $500.72 -
Maine $243.92 -
Massachusetts $200.90 -
Michigan $626.44 $174.24
New Hampshire $389.98 -
New Jersey $643.63 -
New York $328.21 $344.04
Pennsylvania- $222.91
Tennessee- $141.51
Texas- $194.42
Virginia- $146.73
Washington- $119.96

Hanover vs. Chubb: 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 Hanover and Chubb typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Hanover Chubb
1 Vehicle $425.18 $215.38
2 Vehicles $633.79 $257.05
3 Vehicles $1,031.66 $350.09
4 Vehicles $1,372.35 $385.50

Hanover vs. Chubb: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Hanover charges $471.57 per month and Chubb charges $196.55 per month for customers who own their home.

Own/Rent Hanover Chubb
Own $471.57 $196.55
Rent $457.55 $234.65

What is Hanover and Chubb Insurance Rating?

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

ComparisonHanoverChubb
Year Founded18521882
Market Share2.95%
A.M. Best RatingA
BBB RatingA+
Financial StrengthExcellentExcellent
Fitch RatingAA
JD Power RankingAbove Average
Moody’s RatingAa3
NAIC Complaint Index1.280.46
S&P RatingAAA

Hanover or Chubb: Insurance Products Offered

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

InsuranceHanoverChubb
Auto Insurance
Commercial Insurance
Home Insurance
RV Insurance
Umbrella Insurance

Hanover or Chubb: Ways To Save

Chubb offers a wide range of discounts to its policyholders, including Airbag, Anti-lock Braking System, and Anti-theft discounts. Whereas, Hanover also offers a few discounts that Chubb doesn’t, including Student Away at School, Pay-in-Full, and One Bill discounts. Start taking advantage of discounts offered by insurance providers like Chubb and Hanover insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

HanoverChubb
Accident Prevention Course DiscountAccident-Free Discount
Affinity GroupsAirbag Discount
Anti-theft Device DiscountAnti-lock Braking System Discount
Good Student DiscountAnti-theft Discount
Hanover Platinum ExperienceCollege Graduate Discount
Multi-Car DiscountDefensive Driving Discount
No-Fee Electric Funds TransfersGood Student Discount
One BillMulti-Vehicle Discount
Pay-in-Full Discount
Student Away at School Discount

Pros & Cons of Hanover & Chubb

Pros

Hanover
  • The Hanover Insurance Group platinum coverages come in a great bundle.
  • Useful mobile app
Chubb
  • Industry-leading claims and risk engineering services.
  • Efficiency in paying claims and solid reputation.
  • Multi-policy discounts and credits available.
  • High level of expertise.

Cons

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.
Chubb
  • Higher than the average rates, since it’s a premier carrier.

Hanover or Chubb Mobile Apps Options

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.

The Chubb Mobile app is available for android and iPhones and iPads. The app features fingerprint and facial login to a dashboard where you can manage payments, download ID cards, submit claims, check the agent information and more.

Hanover Mobile App
iOS     3.517 user reviews
Android     2.621 user reviews
Chubb Mobile App
iOS     3.314 user reviews
Android     2.36 user reviews

Hanover & Chubb Contact Info

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/
Chubb Contact Info
Address15 Mountainview Rd, Warren, NJ 07059
Phone(908) 903-2000
Websitehttps://www.chubb.com/us-en/
Facebookhttps://www.facebook.com/ChubbInsurance/
Youtubehttps://www.youtube.com/channel
Linkedinhttps://www.linkedin.com/company/chubb/

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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