Hanover Insurance: Overview

About Hanover Insurance Group

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.

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 the 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, 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.

Hanover Facts & Ratings

Hanover Mobile App Rating

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.

Common Questions about Hanover

Hanover Insurance Products

Hanover Auto Insurance Coverage

Discounts

Hanover Auto Insurance Rates by State

Hanover Auto Insurance Rates by Vehicle

Hanover Auto Insurance Rates by Homeownership

Hanover Contact Info

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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