Safeco vs. Hanover Insurance

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

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Safeco vs. Hanover: What You Need to Know

In 1923, Hawthorne K. Dent founded the General Insurance Company of America. Most insurance activity during that time was taking place in the Northeast, so its Seattle location made “The General” a pioneer not only geographically but also with their competitive prices and great service. Today, however, “the General” is called Safeco, and they offer insurance to people across the country. It was in 1953 that the General Insurance Company of America created a subsidiary called Selective Auto and Fire Insurance Company of America (SAFECO). It was intended to compete with the national companies using computer automation tools, which allowed them to enter the life insurance business. By the end of the 1960s, the company also began offering mutual funds and commercial lines of credit. It became so successful that the changed the name entirely to Safeco. In 1997, Safeco began expanding east by acquiring American States Financial Corporation, doubling its agency in size. They soon became a leading insurer for small to mid-sized businesses. In 2002, the company’s dedication to automated technology helped the company recover from the slump of the late 1990s. In 2004, Safeco sold its life and investment division to refocus on surety bonds and its property and casualty lines of insurance. In 2008, Safeco was bought by Liberty Mutual Insurance Company, a change that allows Safeco to focus solely on personal insurance lines today.

In 1852, The Hanover Fire Insurance Company opened in Manhattan at Hanover Square. Author Washington Irving was one first investor. In 1864, while the U.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 Fire 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 Hanover paid all claims.

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

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

Below is a list of the average rates that drivers typically pay with SAFECO and Hanover. On average, SAFECO charges approximately $180.76 per month while Hanover comes in at around $469.49 per month. For SAFECO, the cheapest state average is Montana at $64.42 per month and the most expensive is Georgia at $387.85 per month. For Hanover, the cheapest state average is Massachusetts at $193.95 per month and the most expensive is Michigan at $661.94 per month.

SAFECO

Average Rate

$180.76
Hanover

Average Rate

$469.49
National

Average Rate

$119.16
State SAFECO Hanover
Arizona $99.26 -
Arkansas $128.05 $412.49
California $187.49 -
Colorado $179.95 -
Connecticut $203.44 $472.46
Georgia $387.85 -
Idaho $72.80 -
Illinois $109.44 $493.30
Indiana- $505.50
Iowa $132.02 -
Kansas $220.63 -
Kentucky $164.69 -
Maine- $239.52
Massachusetts- $193.95
Michigan- $661.94
Mississippi $136.94 -
Missouri $159.71 -
Montana $64.42 -
Nebraska $140.53 -
Nevada $240.66 -
New Hampshire $89.62 $399.13
New Jersey- $636.86
New York- $323.15
North Dakota $334.33 -
Ohio $142.41 -
Oregon $212.97 -
Tennessee $123.80 -
Utah $141.95 -
Vermont $142.34 -
Washington $162.96 -
West Virginia $112.93 -
Wisconsin $78.81 -
Wyoming $83.62 -

SAFECO 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 SAFECO and Hanover typically charge for drivers who have more than 1 vehicle.

Number of Vehicles SAFECO Hanover
1 Vehicle $167.70 $428.30
2 Vehicles $221.30 $643.79
3 Vehicles $332.70 $1,164.84

SAFECO 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 SAFECO charges $170.14 per month and Hanover charges $480.99 per month for customers who own their home.

Own/Rent SAFECO Hanover
Own $170.14 $480.99
Rent $186.26 $464.43

What is Safeco and Hanover Insurance Rating?

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

ComparisonSafecoHanover
Year Founded19231852
A.M. Best RatingA
BBB RatingA-A+
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAbove Average
Moody’s RatingA2
NAIC Complaint Index1.081.28
S&P RatingAA

Safeco or Hanover: Insurance Products Offered

What coverage is available through Safeco and Hanover? Both insurance companies offer Auto, Commercial, Home, RV, and Umbrella insurance. Additional products from Safeco insurance also includes Condo, Motorcycle, Pet, 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 SAFECO and Hanover Insurance page.

InsuranceSafecoHanover
Auto Insurance
Commercial Insurance
Condo Insurance
Home Insurance
Motorcycle Insurance
Pet Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Safeco 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. In contrast, Safeco also offers a few discounts that Hanover doesn’t, including Tenture Award, Telematics Reward (Safeco RightTrack), and Teen Safety Rewards discounts. Start taking advantage of discounts offered by insurance providers like Hanover and Safeco insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

SafecoHanover
Accident ForgivenessAccident Prevention Course Discount
Accident PreventionAffinity Groups
Diminishing DeductibleAnti-theft Device Discount
Distant Student DiscountGood Student Discount
Driver Training DiscountHanover Platinum Experience
Good Student DiscountMulti-Car Discount
New Teen RewardNo-Fee Electric Funds Transfers
Newly Independent DiscountOne Bill
Teen Safety RewardsPay-in-Full Discount
Telematics Reward (Safeco RightTrack)Student Away at School Discount
Tenture Award

Pros & Cons of Safeco & Hanover

Pros

Safeco
  • Diminishing deductible can save you money if you’re ever in an accident.
  • Multiple losses, one deductible means that when you bundle, you can save money if an unexpected event damages both your car and home.
  • Safeco had less than the median number of complaints for home insurance, according to the National Association of Insurance Commissioners.
Hanover
  • The Hanover Insurance Group platinum coverages come in a great bundle.
  • Useful mobile app

Cons

Safeco
  • Safeco had more than the median number of complaints about auto insurance in 2018.
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.

Safeco or Hanover Mobile Apps Options

The Safeco Insurance mobile app is available for iOS and Android. This insurance concierge gives you access to your policy 24/7. This mobile and tablet friendly app help you pull up your ID cards, make a payment, manage your policies and file a claim as well as submit accident photos.

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.

Safeco Mobile App
iOS     4.75.4K user reviews
Android     3.8416 user reviews
Hanover Mobile App
iOS     3.517 user reviews
Android     2.621 user reviews

Safeco & Hanover Contact Info

Safeco Contact Info
Address1400 South Highway Drive, Suite 100, Fenton, MO, 63026
Phone1-888-723-3260
Websitehttps://www.safeco.com
Facebookhttps://www.facebook.com/SafecoInsurance/
Twitterhttps://twitter.com/Safecoinsurance
Youtubehttps://www.youtube.com/Safeco
Linkedinhttps://www.linkedin.com/company/safeco-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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