Which insurance carrier is right for you? Compare savings, price, and quotes from Hanover and Erie.
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.
Erie Insurance Exchange was founded in 1925 by H.O. Hirt and O.G. Crawford, in the city of Erie, Pennsylvania. H.O. Hirt hoped to create a company based on superior service using the mantra, “The ERIE is Above all in sERvIcE,” with the letters "E-R-I-E" raised in capitals out of the word “service.” It still remains the company tagline today. Three years after being established, the company was doing so well that it expanded its business by opening its first office outside Erie, in Pittsburgh. By 1934, the company created the “Super Standard Auto Policy,” which was used as a model for other insurance companies across the country. The company later expanded its product portfolio into a home, business and in the year 1967, Erie Family Life Insurance Company was formed, offering life insurance to consumers. Erie Indemnity Company was registered with the Securities and Exchange Commission in 1994 and in the following year it was listed on NASDAQ. Today, Erie Insurance Company ranks number 381 on the 2019 FORTUNE 500® list and has over 5,000 employees and 12,000 independent agents. Also, the company ranks highest among auto insurers in providing a satisfying purchase experience, with a score of 917 (on a 1,000-point scale).
Below is a list of the average rates that drivers typically pay with Hanover and Erie. On average, Hanover charges approximately $462.76 per month while Erie comes in at around $139.67 per month. For Hanover, the cheapest state average is Massachusetts at $198.92 per month and the most expensive is New Jersey at $647.13 per month. For Erie, the cheapest state average is Ohio at $84.11 per month and the most expensive is New York at $200.44 per month.
Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Hanover and Erie typically charge for drivers who have more than 1 vehicle.
|Number of Vehicles||Hanover||Erie|
Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Hanover charges $474.87 per month and Erie charges $120.48 per month for customers who own their home.
Which car insurance company is better? We've made it easy to compare companies side by side. See how Hanover and Erie ranked among the industry ratings.
|A.M. Best Rating||A||A+|
|JD Power Ranking||Above Average|
|NAIC Complaint Index||1.28|
|NAIC Complaint Ratio||0.22|
What coverage is available through Hanover and Erie? Both insurance companies offer Auto, Commercial, Home, and RV insurance. Additional products from Erie insurance also includes Condo, Health, Life, Motorcycle, and Renters 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 Erie Insurance page.
Hanover offers a wide range of discounts to its policyholders, including Affinity Groups, Anti-theft Device, and Good Student discounts. Whereas, Erie also offers a few discounts that Hanover doesn’t, including Young Driver Loyalty, Teen Driver, and Student discounts. Start taking advantage of discounts offered by insurance providers like Erie and Hanover insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.
|Accident Prevention Course Discount||Advance Quote Discount|
|Affinity Groups||Age 55 Discount|
|Anti-theft Device Discount||Driver Training Discount|
|Good Student Discount||Multi-Policy Discount|
|Hanover Platinum Experience||Multi-Vehicle Discount|
|Multi-Car Discount||New Vehicle Discount|
|No-Fee Electric Funds Transfers||Paid in Full Discount|
|One Bill||Prior Bodily Injury Limits (BIL) Discount|
|Pay-in-Full Discount||Reduced Usage Discount|
|Student Away at School Discount||Safe Driver Discount|
|Safety Features Discount|
|Teen Driver Discount|
|Young Driver Loyalty Discount|
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 Erie Insurance mobile app is available for iOS and Android.
|Hanover Mobile App|
|iOS||3.5||17 user reviews|
|Android||2.6||21 user reviews|
|Erie Mobile App|
|iOS||3.3||18 user reviews|
|Android||3.8||19 user reviews|
|Hanover Contact Info|
|Address||440 Lincoln Street, Worcester, MA 01653|
|Erie Contact Info|
|Address||100 Erie Insurance Place, PA 16530|
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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