Hanover vs. Erie Insurance

Which insurance carrier is right for you? Compare savings, price, and quotes from Hanover and Erie.

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Hanover vs. Erie: 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.

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 average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Hanover Overview and Erie Overview.

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

Below is a list of the average rates that drivers typically pay with Hanover and Erie. On average, Hanover charges approximately $465.06 per month while Erie comes in at around $137.28 per month. For Hanover, the cheapest state average is Massachusetts at $199.21 per month and the most expensive is Michigan at $646.00 per month. For Erie, the cheapest state average is Ohio at $83.55 per month and the most expensive is New York at $199.07 per month.

Hanover

Average Rate

$465.06
Erie

Average Rate

$137.28
National

Average Rate

$120.03
State Hanover Erie
Arkansas $407.97 -
Connecticut $459.42 -
Illinois $494.09 -
Indiana $495.59 $88.54
Maine $245.48 -
Maryland- $177.11
Massachusetts $199.21 -
Michigan $646.00 -
New Hampshire $389.49 -
New Jersey $635.73 -
New York $328.40 $199.07
North Carolina- $87.16
Ohio- $83.55
Pennsylvania- $122.62
Tennessee- $110.48
Virginia- $92.83
West Virginia- $98.74
Wisconsin- $96.01

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

Number of Vehicles Hanover Erie
1 Vehicle $428.70 $137.73
2 Vehicles $638.18 $135.06
3 Vehicles $1,057.10 $179.15
4 Vehicles $1,480.92 $

Hanover vs. Erie: 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 $476.13 per month and Erie charges $116.91 per month for customers who own their home.

Own/Rent Hanover Erie
Own $476.13 $116.91
Rent $460.81 $144.63

What is Hanover and Erie Insurance Rating?

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.

ComparisonHanoverErie
Year Founded18521925
Market Share1.29%
A.M. Best RatingAA+
BBB RatingA+
Financial StrengthExcellentExcellent
JD Power RankingAbove Average
NAIC Complaint Index1.28
NAIC Complaint Ratio0.22
S&P RatingA

Hanover or Erie: Insurance Products Offered

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.

InsuranceHanoverErie
Auto Insurance
Commercial Insurance
Condo Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Hanover or Erie: Ways To Save

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.

HanoverErie
Accident Prevention Course DiscountAdvance Quote Discount
Affinity GroupsAge 55 Discount
Anti-theft Device DiscountDriver Training Discount
Good Student DiscountMulti-Policy Discount
Hanover Platinum ExperienceMulti-Vehicle Discount
Multi-Car DiscountNew Vehicle Discount
No-Fee Electric Funds TransfersPaid in Full Discount
One BillPrior Bodily Injury Limits (BIL) Discount
Pay-in-Full DiscountReduced Usage Discount
Student Away at School DiscountSafe Driver Discount
Safety Features Discount
Student Discount
Teen Driver Discount
Young Driver Loyalty Discount

Pros & Cons of Hanover & Erie

Pros

Hanover
  • The Hanover Insurance Group platinum coverages come in a great bundle.
  • Useful mobile app
Erie
  • Erie Insurance is well-known for its competitive price and excellent claims service.
  • It has fewer customer complaints than the industry median, relative to its size.
  • Offers 12-month premium quotes
  • Multiple discounts available
  • It locks in your auto insurance rate, so your premium won’t change unless you add or remove drivers or cars.

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.
Erie
  • It doesn’t accept claims online, only by phone.
  • It offers its products in only 12 states.

Hanover or Erie 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 Erie Insurance mobile app is available for iOS and Android.

Hanover Mobile App
iOS     3.517 user reviews
Android     2.621 user reviews
Erie Mobile App
iOS     3.318 user reviews
Android     3.819 user reviews

Hanover & Erie 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/
Erie Contact Info
Address100 Erie Insurance Place, PA 16530
Phone1-800-458-0811
Websitehttps://www.erieinsurance.com/
Facebookhttps://www.facebook.com/erieinsurance/
Twitterhttps://twitter.com/erie_insurance
Youtubehttps://www.youtube.com/user/ErieInsurance
Linkedinhttps://www.linkedin.com/company/erie-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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