The Hanover Insurance review 2021: Home & Car

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There are two good reasons you may want to bundle your car and home insurance with one insurance company: convenience and savings. The Hanover Insurance Company provides both types of insurance for individuals who may be less focused on low-cost, no-frills insurance and in search of comprehensive packages with plenty of coverages and add-ons.

You’ll have access to The Hanover auto insurance and homeowners coverage if you’re a resident in one of the 27 states and Washington, D.C. the carrier serves, mainly concentrated in New England and the Midwest. This Hanover insurance review will help you know if this is the right provider for you.

The Hanover Car Insurance

Choosing the right balance of car insurance can be challenging. What makes The Hanover unique is its premium bundle of car insurance, homeowners and umbrella coverage known as The Hanover Platinum.

You’ll get higher limits and extras included through the Platinum package, such as key replacement, child car seat replacement and an excess of $1,500 in custom equipment coverage for your vehicles. As for your homeowners insurance, the Platinum package includes debris removal, water backup and sump overflow protection — as well as fire extinguisher replacements or recharges.

Types of Coverage

You don’t have to bundle home and auto. If the only type of insurance you need is vehicle coverage, you can build your own The Hanover auto insurance policy. The carrier has all the vehicle coverage you’d expect and more, such as:

  • Liability: All states require some form of liability coverage as a minimum. The Hanover’s auto coverage starts with liability insurance.
  • Comprehensive: Expand protection to include your vehicle by adding comprehensive coverage, which reimburses repairs or replacement of your car if it’s lost or damaged due to weather, fire, theft or vandalism.
  • Medical payments: This coverage pays for medical expenses of third parties you injured in a car crash.
  • New car replacement: You’ll get the cash value of a car one year newer than yours if it’s totaled in an accident.
  • Original equipment manufacturer parts (OEM): Repairs and replacements use factory parts, which typically are more expensive.
  • Roadside assistance: The 24-hour emergency service includes towing, refuel and battery jump-starts.

Cost of The Hanover Car Insurance

The Hanover car insurance isn’t known as the cheapest car insurance provider. Minimum coverage costs are higher than the top 10 car insurance companies that have rates ranging between $351 and $756 for basic auto insurance. As for full coverage, The Hanover is twice as expensive as MetLife at $4,532. MetLife is the most expensive carrier on the top ten list, with a premium of $2,236.

Minimum Coverage Full Coverage
$1,255 $4,532

The Hanover’s higher premiums come with more coverage than lower-cost competitors. Vehicles are reimbursed at actual cash value for a model one year newer than your existing vehicle.

Discounts

As with most insurance providers The Hanover provides a range of discounts on auto insurance. Other ways you can save is by remaining claims-free to take advantage of deductible dividends coverage — you’ll receive $100 off your deductible every year without a claim. Discounts worth taking advantage of include:

  • Accident prevention courses
  • Anti-theft devices
  • Good student
  • Multi-car
  • Paid-in-full
  • Safe teen
  • Student away at school

The Hanover Home Insurance

The Hanover provides home insurance for higher-value homes through Prestige coverage. But even if you don’t need to insure a large estate, you can personalize your homeowners insurance coverage.

As mentioned in the Hanover auto insurance review above, full-featured coverage is available through The Hanover Platinum bundle which includes both auto and home insurance. Going Platinum for The Hanover home insurance policy means you’ll get auto insurance and additional home coverage, such as 150% in extended dwelling insurance, equipment breakdown and guaranteed replacement cost.

Types of Coverage

Types of home coverage available from The Hanover include:

  • Structure: This covers the “four walls” of your home, as well as other structures on the property.
  • Contents: This insures your belongings such as furniture, appliances, clothing and electronics.
  • Additional living expenses: This pays for your living costs elsewhere if your home is uninhabitable after a loss.
  • Liability: Liability insurance offers protection against injuries that happen on your property and the legal defense against such losses or injuries.
  • Scheduled property: This is protection for higher-value contents such as expensive jewelry, collectibles and artwork.

Discounts

The Hanover home insurance review is not complete without a list of discounts. The most significant savings comes from bundling your home and auto insurance. But there are other ways to save if you aren’t planning on insuring your vehicles and home with the carrier. The Hanover home insurance discounts include:

  • Affinity groups
  • Home buyer
  • New home
  • Payment method discount
  • Security alarms and safety devices such as smoke detectors

Reasons Why The Hanover Is a Great Option

The Hanover understands the needs of individuals in search of high-quality, full coverage. To simplify the process, the insurance carrier offers bundles with expanded coverage that goes above and beyond the no-frills liability insurance many companies provide.

Car insurance extras include OEM parts and higher-value new car replacement. Home insurance coverages such as guaranteed replacement cost and equipment breakdown are available. To get the most out of The Hanover, choose a package, such as the Platinum for home and auto or Prestige for higher-value homes needing higher limits.

The one drawback to The Hanover is price — average premiums are typically higher than many other insurers. However, you’ll receive more value for what you’re paying in the form of higher limits or included additional coverages.

Additional Policies Offered by The Hanover

Besides home and auto insurance, The Hanover offers a variety of additional coverages for individuals and businesses. Other personal insurance available includes:

  • Condo
  • Home business
  • Recreational vehicles
  • Renters
  • Umbrella
  • Watercraft

The Hanover Ratings, Reviews, Customer Satisfaction and Complaints

The Hanover ranks well when it comes to financial stability, earning an A from the credit agency AM Best. However, it doesn’t make the list of overall customer satisfaction ratings for home or auto insurance from J.D. Power.

The Hanover insurance rating
JD Power (out of 1,000) Auto: NR
Home: NR
AM Best A
BBB A+

Frequently asked questions

What is the best auto insurance company?

Choosing the best auto insurance company depends on several factors such as type of vehicle, driving history, coverage limits and premiums. Get quotes from several insurance carriers to compare coverage and price to decide which one is best.

What is the best home insurance company?

Bankrate’s roundup of best home insurance companies details the top carriers and who they’re best for. Amica Mutual and USAA rank high, but USAA is limited to military members. As for Amica, the carrier does not provide coverage nationwide.

What states is The Hanover insurance available in?

The Hanover offices locations in Arizona, California, Connecticut, Colorado, Georgia, Illinois, Indiana, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, Washington, D.C. and Wisconsin.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a cleaning driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.