Which insurance carrier is right for you? Compare products, pros & cons, and quotes from Hanover and Farm Bureau.
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 1939, in Des Moines, Iowa, Farm Insurance Company was founded to meet the liability insurance needs of farmers. As the company grew and opened offices in other states, it expanded its product line to include car, home, and life insurance as well as other types of coverage. By the year 1996, the holding company, FBL Financial Group, was listed on the New York Stock Exchange. The company was formerly known as Farm Bureau Mutual Insurance Company but was reorganized and renamed in 2010. Today, the company goes by the name Farm Bureau Financial Services and is known for its superior car and home insurance products. It has around 1,600 employees and 4,000 field associates in different states.
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 Farm Bureau Mutual (IA Group) Overview.
Below is a list of the average rates that drivers typically pay with Hanover and Farm Bureau Mutual (IA Group). On average, Hanover charges approximately $437.12 per month while Farm Bureau Mutual (IA Group) comes in at around $127.36 per month. For Hanover, the cheapest state average is Massachusetts at $196.31 per month and the most expensive is New Jersey at $585.22 per month. For Farm Bureau Mutual (IA Group), the cheapest state average is Iowa at $94.97 per month and the most expensive is Kansas at $167.25 per month.
|State||Hanover||Farm Bureau Mutual (IA Group)|
Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Hanover and Farm Bureau Mutual (IA Group) typically charge for drivers who have more than 1 vehicle.
|Number of Vehicles||Hanover||Farm Bureau Mutual (IA Group)|
Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Hanover charges $633.87 per month and Farm Bureau Mutual (IA Group) charges $129.95 per month for customers who own their home.
|Own/Rent||Hanover||Farm Bureau Mutual (IA Group)|
Which car insurance company is better? We've made it easy to compare companies side by side. See how Hanover and Farm Bureau ranked among the industry ratings.
|A.M. Best Rating||A||A|
|JD Power Ranking||Above Average|
|NAIC Complaint Index||1.28|
|NAIC Complaint Ratio||0.92|
What coverage is available through Hanover and Farm Bureau? Both insurance companies offer Auto, Commercial, Home, RV, and Umbrella insurance. Additional products from Farm Bureau insurance also includes Condo, Farm, 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 Farm Bureau Mutual (IA Group) Insurance page.
Farm Bureau offers a wide range of discounts to its policyholders, including Continued In-Force Credit, Discounts for Multiple Cars, and Driven to Safety discounts. Whereas, Hanover also offers a few discounts that Farm Bureau doesn’t, including Student Away at School, Pay-in-Full, and One Bill discounts. Start taking advantage of discounts offered by insurance providers like Farm Bureau 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||Claim Free Discount|
|Affinity Groups||Continued In-Force Credit|
|Anti-theft Device Discount||Discounts for Multiple Cars|
|Good Student Discount||Driven to Safety Discount|
|Hanover Platinum Experience||Driveology: The Science of Save Driving®|
|Multi-Car Discount||Farm Bureau Member’s Choice|
|No-Fee Electric Funds Transfers||Good Student Discount|
|One Bill||Low Mileage Discount|
|Pay-in-Full Discount||Safe Young Driver Discount|
|Student Away at School 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 Farm Bureau Member Benefits app is available for iOS and Android. This mobile app offers some benefits and services including financial services and insurance products, entertainment discounts at local attractions, savings on hotels, rental cars, vehicles, retail items and more.
|Hanover Mobile App|
|iOS||3.5||17 user reviews|
|Android||2.6||21 user reviews|
|Farm Bureau Mobile App|
|iOS||3.8||15 user reviews|
|Android||3.1||99 user reviews|
|Hanover Contact Info|
|Address||440 Lincoln Street, Worcester, MA 01653|
|Farm Bureau Contact Info|
|Address||5400 University Avenue West Des Moines, IA 50266-5997|
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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