The Hanover Insurance review 2022
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At a glance
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- Extensive list of policy coverage options for home and auto insurance to fit different needs
- Special coverage options are available for high-value homes and cars, especially for drivers who don’t want to compromise on comfort during a claims repair
- Average premiums for car and home insurance may be significantly higher compared to the national average
- Limited number of local agents and in-person brokers
The Hanover Insurance offers an opportunity for those who want access to an array of coverage options for home and auto insurance. With three insurance packages to choose from and the freedom to include even more add-on coverage, The Hanover provides convenience for shoppers. Although its premiums may be steep, The Hanover may be worth it for policyholders who want a personalized insurance plan to cover their vehicles and home.
The Hanover’s base-level package is the Connections, available for home and auto insurance policies. While this package comes with standard policy features, those looking for coverage for higher-value homes and vehicles can turn to the Hanover’s Prestige and Platinum packages. Like the Connections package, the Prestige package can be purchased separately for home and auto insurance. However, the Platinum Home and Auto package is intended for bundling home and auto insurance.
The Hanover may not be a regional carrier, but it is only available in 20 states and Washington D.C. If you reside in one of these areas, Bankrate’s the Hanover insurance review may help you know if this is the right provider for you.
The Hanover car insurance
With its three packages — Connections, Prestige and Platinum — the Hanover car insurance may be a good choice for drivers who want convenience and flexibility with their insurer, like those found at the best car insurance companies. Although it is the base-level plan, the Connections plan has three levels: Connections Auto, DriveSmart and DriveSmart Advantage. Each level has more coverage options than the last, with the DriveSmart Advantage encompassing the most. Some of the features at this level include deductible dividends and new car replacement guard, which pays the actual cash value of the same make, model and equipment of your vehicle except one year newer.
The Hanover’s Prestige and Platinum plans may be ideal for drivers who want to take advantage of unique auto policy features. In the mid-level Prestige package, drivers can include an array of optional coverage features that may help make the claims process smoother. These options include upgraded roadside assistance coverage, other transportation if the vehicle becomes inoperable and pet injury coverage.
With the Hanover Platinum package, auto and home insurance are bundled. The Platinum package provides even higher policy limits and more policy add-ons than the Connections and Prestige plans. Among the many options offered, one standout feature is a one renewal date for both policies.
The Hanover car insurance cost
The Hanover’s average annual premium for full coverage auto insurance is exceedingly high compared to the national average cost of car insurance. On average, drivers with the Hanover pay $3,700 per year for full coverage auto insurance, while the national average is $1,771 per year for the same coverage. However, actual rates may vary depending on chosen coverage options and discount opportunities, as well as rating factors such as your location, vehicle, driving history and more.
|Full coverage annual rates||National average full coverage premium|
|Clean driving history||$3,700||$1,206|
|Adding a 16-year-old driver||$7,119||$2,200|
The Hanover car insurance discounts
Part of saving money on car insurance can come from a company’s discount opportunities. Depending on which of The Hanover’s plans you choose for auto insurance, the following discounts may be available:
Those who rent cars often may find The Hanover’s partnership with the National beneficial to them. The Hanover policyholders are considered members of the National’s Emerald Club Executive program and can rent any vehicle in the executive area for the midsize rate in the U.S. and Canada.
The Hanover home insurance
Like its car insurance, The Hanover home insurance is also available in the Connections, Prestige and Platinum tiers. Each package offers unique coverage options and can be personalized to ensure the best fit for your homeowners insurance needs. While the Connections and Prestige plans may be suitable for most homes, The Hanover Platinum plan is intended for high-value homes or those who want the most robust coverage. This top-tier plan offers extra policy features, such as ordinance or law coverage, water backup coverage starting at $25,000 up to the full replacement value of your home and unlimited loss of use coverage if your home is temporarily uninhabitable due to a coverage claim.
The Hanover home insurance cost
The Hanover’s average premiums for home insurance are also higher than the national average cost of home insurance. The average cost of The Hanover’s home insurance policy with $250,000 in dwelling coverage is $2,704 per year, whereas the national average is $1,383 per year.
|Dwelling coverage limit||Average annual premium||National average annual premium|
The Hanover home insurance discounts
Some of The Hanover’s discount opportunities on homeowners insurance include:
The Hanover has partnered with multiple companies to provide discounted pricing and additional benefits to help homeowners. These partnerships include home repair services with Porch, discount on security devices and monitoring with Scout, arborist care with HMI, water and plumbing service with Leak Defense and Flo by Moen. Hanover policyholders interested in purchasing jewelry or commissioning custom pieces may receive special pricing and additional benefits with Artigem.
Other The Hanover perks worth considering
In addition to home and personal auto insurance, The Hanover also offers other insurance policies, including:
The Hanover corporate sustainability
The Hanover highlights its diversity and inclusion efforts for its employees on its website. In 2021, it earned a perfect score from the Human Rights Campaign Foundation’s Corporate Equality Index for policies and practices that made it an LGBTQ-friendly and equal workplace.
The Hanover has also partnered with United Way through donations and employee participation to promote support of United Way’s network of nonprofits. Additionally, The Hanover’s wholly-owned investment management company, Opus Investment Management, Inc., has released its investment policy showcasing its approach to investing with social, environmental and governance.
Not sure if The Hanover is right for you? Consider these alternatives
- Travelers: Those who want more discount opportunities without compromising on add-on coverage options may want to consider Travelers.
- The Hartford: Individuals affiliated with AARP may find The Hartford to be a good fit for their needs.
- Liberty Mutual: As the fifth-largest insurance company by market share, those who prefer working with national car insurance carriers may find Liberty Mutual more suitable for their needs.
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following 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 coverage that meets each state’s requirements. Our sample drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Age: Rates were determined by adding a 16-year-old teen driver to a 40-year-old married couple’s policy.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and a single at-fault accident.
- Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000
- Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000
- Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000
- Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.