Hanover Insurance: Overview

The Hanover Insurance Group has been in operation since 1852 and provides coverage in 18 states.

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About Hanover Insurance Group

In 1852, The Hanover Fire Insurance Company opened in Manhattan at Hanover Square. Author Washington Irving was one first investors. 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 were $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. 

In 1880, The Hanover insured leading businesses that included Marshall Field, JP Morgan, Westinghouse, Colgate and Scott Paper. By 1881, the company’s financial strength increased and by 1886 it doubled its capital to $1 million. That same year, The Hanover increased its presence abroad by appointing its first agent in London. 

In 1906, earthquake and fire affected large parts of San Francisco. The Hanover suffered losses but stood strong. It was in 1911 that the company expanded business to include marine and automobile insurance. In 1915, The Hanover’s Citizens brand underwrote the first auto insurance policy in Michigan. Even Babe Ruth, the baseball Hall of Famer, bought auto insurance from The Hanover, which continued to expand overseas and appointed an agent in China in 1921. 

In 1935, the Hanover did not layoff a single employee, even though the Depression was in full swing. The company continued to pay dividends to shareholders as well. In 1958, The Hanover Fire Insurance Company was renamed The Hanover Insurance Group to reflect its broad product range. In 1969, they moved headquarters from NYC to Worcester, Massachusetts. In 1947, The Hanover purchased all shares of Citizens Mutual Insurance to make it a member of The Hanover Insurance Companies. 

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, 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. 

Hanover Facts & Ratings

Year Founded 1852
Financial Strength Excellent
JD Power Ranking Above Average
BBB Rating A+
A.M. Best A
S&P Rating A
NAIC Complaint Index 1.28

Hanover Mobile App Rating

iOS      3.5 17 user reviews
Android      2.6 21 user reviews

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.

Pros & Cons of Hanover

  • The Hanover Insurance Group platinum coverages come in a great bundle.
  • Useful mobile app
  • 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.

Common Questions about Hanover

What is the Hanover Platinum Experience?

The Hanover Platinum Experience is a bundle of home and auto insurance, which provides a wide range of coverage protection options and claims service, all in one account. This means the consumer pays one bill and has one number to call for a claim.

What does the Hanover Insurance group do?

The Hanover Insurance Group is a holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the U.S. They offer a wide range of insurance products, ranging from home and auto to business insurance.

What is the Hanover’s Insurance rating?

A financially strong company, Hanover customers do not have to worry about not getting claims paid out, but customer service ratings dipped below average. It is also a more expensive choice for auto insurance.

What is a Waiver of Deductible offered by Hanover Insurance?

A waiver of deductible is when there is a single loss that affects more than one property, such as two cars or a car and home or car and boat, etc.

What states does Hanover insurance write in?

Hanover insurance offers auto, home and renters in 18 states: Arkansas, Connecticut, Georgia, Illinois, Indiana, Louisiana, Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, Tennessee, Virginia and Wisconsin.

What is the Hanover SafeTeen program?

Hanover SafeTeen is a group of programs aimed at educating new teen drivers while giving parents peace of mind while their teens begin driving. Both parents and teens will benefit from savings Hanover SafeTeen offers for responsible driving.

What is Hanover Prestige Auto coverage?

Hanover Prestige is designed for higher-value homes and cars and offers flexibility in customizing auto insurance plans. It is offered for more complex insurance needs. With Hanover Prestige Auto coverage, you get Prestige global rental, which protects you worldwide if you’re in an accident with a rental car. You will also be covered for loss of use or loss of value that you may get charged with. You’ll also get Prestige rental upgrade, Prestige travel companion, Prestige lifetime OEM and Prestige new car extender.

Does Hanover Auto insurance offer discounts?

Hanover offers the following auto insurance discounts: pay-in-full discount, anti-theft device discount, multi-car discount, accident prevention course discount, one bill, good student discount, student-away-at-school discount, affinity groups and no fee EFT.

How does Hanover Second Chance Accident Forgiveness work?

With Second Chance Accident Forgiveness, your first surchargeable accident in any 36-month period will be forgiven. No surcharge will be added and you’ll see no increase in premium due to the accident.

Does Hanover Insurance have roadside assistance?

Yes, Hanover has partnered with a leading provider of emergency roadside assistance with a network of over 35,000 providers.

Does Hanover Auto insurance cover custom equipment breakdown?

Yes Hanover Auto insurance offers custom equipment coverage, which will replace aftermarket items installed in your car, like a stereo system or custom wheels, if they are damaged or stolen.

What does Hanover Prestige Home coverage come with?

Hanover Prestige offers guaranteed replacement cost with a cash settlement, allowing customers to choose when and where to rebuild in the event of a total loss. Hanover also offers water backup and ordinance of law coverage with limits up to the full replacement cost of the home.

How to save on homeowners insurance with Hanover:

There are lots of ways to save on homeowners insurance. Review your deductibles and raise them if you need to lower your premiums. Bundle home and auto for a discount. Make sure you’re taking advantage of all discounts. Avoid risks that will increase your rates and maintain your home so you don’t have costly claims to file, which may not be paid, due to your negligence.

How does the Hanover Extended Dwelling Replacement Cost work?

With Hanover’s Extended Dwelling Replacement Cost, if the amount of insurance on your house isn’t enough to cover the cost of rebuilding, this option helps make up the difference — up to an additional 25%.

Does Hanover have good Home insurance reviews?

According to J.D. Power, Hanover Insurance ranks below average for home insurance in terms of customer satisfaction.

Hanover Insurance Products

Car Insurance Home Insurance
Umbrella Insurance Watercraft Insurance
Recreational Vehicle Insurance Valuable Items Insurance
Identity Protection Business Insurance

Hanover Auto Insurance Coverage

Bodily Injury Liability

This form of coverage is required in every state. It covers bodily injuries to a third party in an accident that was deemed your fault.

Property Damage Liability

This form of coverage is required in every state. It covers property damage and loss of use to a third party.

Uninsured/Underinsured Motorist

This form of coverage covers damages when the other party is at fault but is either uninsured or underinsured.

Comprehensive Coverage

This coverage pays for damages and loss other than that caused by a collision. It is subject to a deductible.

Collision Coverage

his coverage pays for damages and loss caused by impact with another automobile, object or person. It is subject to a deductible.

Roadside assistance

This coverage helps you get back and driving if you have a roadside breakdown.

Transportation Expense

Transportation expenses, like rental car charges, incurred in connection with a covered comprehensive or collision loss are payable, up to limits.

Newer Car Replacement

This coverage pays the value of a brand-new car of the same make and model, minus the deductible, if your car is declared a total loss.

Medical Payments or Personal Injury Protection

This type of protection will cover you if you’ve been injured in an accident, regardless of who’s at fault. Coverages include income continuation, loss of services, funeral expenses and child-care expenses

Mechanical Parts Coverage

Car parts like tires, batteries and hoses depreciate in value, but with this coverage you get full replacement cost if you’re in an accident.

Platinum Auto Essential

This bundle includes Child Passenger Restraint System Replacement Coverage, Original Equipment Manufacturer (OEM) arts, Mechanical Parts Replacement, Ultimate Rental Coverage, Excess Custom Equipment Coverage and Excess Electronic Equipment Coverage.

Platinum Auto Advantage

This bundle includes New Car Replacement, Newer Car Replacement, Second Chance Accident Forgiveness and Deductible Reduction.

Platinum Auto Elite

This bundle includes Pet Injury Protection, Rental Car Coverage, Trip Interruption, Rental Coverage Upgrade, Home Car Services, Accidental Airbag Deployment and Accidental Death Benefit.

Child car seat replacement

will pay up to $300 with no deductible to replace a car seat that’s damaged in a covered accident.

Key replacement coverage

pays up to $250 if your car keys are lost, damaged or stolen.

Discounts

Pay-in-Full Discount Anti-theft Device Discount
Multi-car Discount Accident Prevention Course Discount
One Bill Good Student Discount
Student Away at School Discount Affinity Groups
No-Fee Electric Funds Transfers Hanover Platinum Experience

Hanover Auto Insurance Rates by State

Below is a list of the average rates that drivers typically pay with Hanover. On average, Hanover charges approximately $437.86 per month. The cheapest state average is Massachusetts at $169.93 per month followed by Maine at $292.19 per month. The most expensive state average is New Jersey at $581.38 per month.

State Avg monthly rate
AR $448.49
CT $503.76
FL $338.35
IL $561.51
IN $439.50
MA $169.93
State Avg monthly rate
ME $292.19
MI $567.86
NH $338.33
NJ $581.38
NY $363.59

Hanover Auto Insurance Rates by Vehicle

Drivers typically will get a discount if they insure multiple vehicles. Here is a list of average rates that Hanover charges for drivers who have more than 1 vehicle.

Number of Vehicles Avg Monthly Rate
1 Vehicle $418.45
2 Vehicles $540.02
3 Vehicles $712.34
6 Vehicles $948.25
5 Vehicles $1,010.38
4 Vehicles $1,018.23

Hanover Auto Insurance Rates by Homeownership

Customers who own their home rather than rent can sometimes get a small discount. We found that on average Hanover charges $382.05 per month for drivers who own their home and $459.36 per month for those who rent.

Own/Rent Avg Monthly Rate
Own $382.05
Rent $459.36

Hanover Contact Info

Address 440 Lincoln Street, Worcester, MA 01653
Phone 1-508-855-1000
Website https://www.hanover.com/
Facebook https://www.facebook.com/hanoverinsurance/
Twitter https://twitter.com/The_Hanover
Youtube https://www.youtube.com/channel/UCe9zQijKTBxGff55FKAvytg
Linkedin https://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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