Travelers vs. Hanover Insurance

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

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Travelers vs. Hanover: What You Need to Know

For more than 160 years Travelers Insurance has been protecting homes, cars, valuables, and businesses. Today they have the reputation of being one of the best property and casualty companies in the industry and are the only one in the Dow Jones Industrial Average. The company has 30,000 employees and 13,500 independent agents and brokers in the United States, Canada, the United Kingdom, Ireland, and Brazil. In 1864, a stonecutter, James G. Batterson, and several other townsman in Hartford Connecticut began organizing a company to introduce accident insurance to the U.S. James E. Bolter, a local banker, asked Batterson how much he’d charge to insure his four-block home. Batterson said it would cost “two cents.” Today, the two-cent “premium” is Traveler’s treasured souvenir. The following year, Travelers began selling life insurance and in 1897 they issued their first automobile insurance policy. In 1889, they offered liability insurance to employers (workers compensation). By 1901 Travelers Insurance offered health and liability insurance. In 1903, they opened an insurance school and the following year organized a corps of safety engineers. In 1919, Travelers offered aircraft liability insurance with a full aviation program. During World War II, Travelers underwrote the Manhattan Project, the building of the first atomic bomb. In 1956, they established a weather research center and two years later offered life insurance to women at lower rates than men.

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 Travelers Overview and Hanover Overview.

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

Below is a list of the average rates that drivers typically pay with Travelers and Hanover. On average, Travelers charges approximately $183.91 per month while Hanover comes in at around $468.89 per month. For Travelers, the cheapest state average is Maine at $89.51 per month and the most expensive is Michigan at $272.32 per month. For Hanover, the cheapest state average is Massachusetts at $198.35 per month and the most expensive is Michigan at $667.97 per month.

Travelers

Average Rate

$183.91
Hanover

Average Rate

$468.89
National

Average Rate

$120.03
State Travelers Hanover
Alabama $115.58 -
Arizona $144.42 -
Arkansas- $410.26
Connecticut $178.33 $465.03
Delaware $155.72 -
Idaho $174.83 -
Illinois $115.82 $490.54
Indiana $153.34 $493.45
Iowa $141.42 -
Kansas $156.15 -
Kentucky $188.20 -
Maine $89.51 $244.32
Massachusetts- $198.35
Michigan $272.32 $667.97
Mississippi $201.51 -
Nevada $212.95 -
New Hampshire- $389.39
New Jersey- $636.63
New York $238.17 $329.31
North Carolina $101.66 -
Oregon $133.33 -
Pennsylvania $215.06 -
Rhode Island $222.54 -
South Carolina $116.45 -
Tennessee $135.84 -
Washington $143.47 -

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

Number of Vehicles Travelers Hanover
1 Vehicle $174.81 $432.54
2 Vehicles $218.20 $638.46
3 Vehicles $306.68 $1,097.70
4 Vehicles $401.41 $1,474.38

Travelers 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 Travelers charges $164.77 per month and Hanover charges $480.89 per month for customers who own their home.

Own/Rent Travelers Hanover
Own $164.77 $480.89
Rent $192.36 $464.22

What is Travelers and Hanover Insurance Rating?

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

ComparisonTravelersHanover
Year Founded18641852
Market Share1.8
A.M. Best RatingA
BBB RatingA+A+
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAbove Average
Moody’s RatingAa2
NAIC Complaint Index01.28
S&P RatingAAA

Travelers or Hanover: Insurance Products Offered

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

InsuranceTravelersHanover
Auto Insurance
Commercial Insurance
Condo Insurance
Health Insurance
Home Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Travelers 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. However, Travelers also offers a few discounts that Hanover doesn’t, including Safe Driver, New Car, and MultiCar discounts. Start taking advantage of discounts offered by insurance providers like Hanover and Travelers insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

TravelersHanover
Affinity Program DiscountsAccident Prevention Course Discount
Continuous Insurance DiscountAffinity Groups
Driver Training DiscountAnti-theft Device Discount
Early Quote DiscountGood Student Discount
EFT, Paid in Full and Good Payer DiscountHanover Platinum Experience
Good Student DiscountMulti-Car Discount
Home Ownership DiscountNo-Fee Electric Funds Transfers
Hybrid/Electric Vehicle DiscountOne Bill
IntelliDrive Program Safe Driving DiscountPay-in-Full Discount
Multi-policy DiscountStudent Away at School Discount
MultiCar Discount
New Car Discount
Safe Driver Discount
Student Away at School Discount

Pros & Cons of Travelers & Hanover

Pros

Travelers
  • Unlike other carriers who only offer it for the first two or three years, Travelers’ new car replacement covers the first five years.
  • Travelers offer accident forgiveness.
  • Offers ridesharing insurance.
  • Discounts on hybrids and electric vehicles.
Hanover
  • The Hanover Insurance Group platinum coverages come in a great bundle.
  • Useful mobile app

Cons

Travelers
  • Prices tend to be high.
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.

Travelers or Hanover Mobile Apps Options

The Travelers Mobile app is available for iOS and Android. This award-winning mobile app can help manage insurance and banking accounts, request roadside service, file and track claims and pay bills.

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.

Travelers Mobile App
iOS     2.715K user reviews
Android     3.316K user reviews
Hanover Mobile App
iOS     3.517 user reviews
Android     2.621 user reviews

Travelers & Hanover Contact Info

Travelers Contact Info
Address485 Lexington Ave New York, NY 10017
Phone1-800-328-2189
Websitehttps://www.travelers.com
Facebookhttps://www.facebook.com/travelers
Twitterhttps://twitter.com/travelersinsurance
Youtubehttps://www.youtube.com/user/travelersinsurance
Linkedinhttps://www.linkedin.com/company/travelers
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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