UPDATED: Mar 13, 2020
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Hanover Auto Insurance: Offering Customizable Auto Policies Near You
AutoinsuranceEZ.com Rating:The Hanover Insurance Group is one of the oldest existing insurance companies in the United States. They have been incorporated since 1852, and today offer their diverse array of property and casualty insurance products through a network of over 2,000 independent insurance agents. They are also among the top 500 largest publicly traded companies in the US right now.
Hanover Insurance Review
Whether you are thinking about switching to a new insurance policy or looking for insurance for the first time, there are some steps you should take before you make any final decisions. For starters, you want to make sure you’re about to do business with a good, solid company. Good insurance companies usually have fewer customer service complaints and higher customer satisfaction ratings. Solid companies have high financial strength ratings, which means that they aren’t going to file for bankruptcy or fail to pay out in case you have to file a claim.
|AM Best Financial Strength Rating (2016)||A|
|Better Business Bureau Rating (2016)||A+|
|NAIC Complaint Index (2012)||0.75 (Better than Average)|
|2013 JD Power & Associates Auto Insurance Study||About Average, and Below Average|
Hanover Insurance Discounts
Some automotive insurance companies offer more discounts than others in order to try and bring in new business. While Hanover doesn’t necessarily advertise these discounts in any sort of public format, that doesn’t mean that they don’t have any to offer. If you decide to get a quote from a Hanover agent, you should ask them directly about discounts you might be entitled to. Some of the more popular discounts include:
- Bundling discounts
- Safe Driver discounts
- Safety Equipment discounts
- Accident Forgiveness discounts
- Good Student discounts
- Low Mileage discounts
- And more
Hanover Auto Insurance Options
Hanover, like any other insurance company, has to provide you with the coverages you need to drive legally, and in the dollar amounts that your state requires. And they do provide this, along with a few other optional (but basically essential) forms of coverage:
- Comprehensive & Collision Options
- Original Equipment Manufacturer Parts (OEM parts)
- Newer Car Replacement
- Deductible Dividends
- Roadside Assistance
- Transportation Expense
- Medical Payments Coverage/Personal Injury Protection
In addition to these options, Hanover offers a series of Platinum Auto Protection packages. There are three tiers, which each include an escalating level of coverage. The Platinum Auto Essential is the first tier, and it covers:
- Waiver of Deductible – if you have multiple properties that get damaged at the same time, you only have to pay a single deductible
- Child Passenger Restraint System Coverage – up to $300 of coverage for a damaged child car seat
- OEM Parts – covers original equipment manufacturer replacement parts
- Mechanical Parts Replacement – coverage for the replacement of mechanical parts like batteries, tires, and more
- Ultimate Rental – Up to $3,000 of coverage for renting a vehicle while your damaged vehicle is being repaired or replaced
- Ultimate Towing & Labor – adds $75 of coverage for lost, stolen, or broken keys to your Roadside Assistance coverage
The next tier up, Platinum Auto Advantage, adds the following features to your policy:
- New Car Replacement Guard – if you total your new car within your first year of driving or 15,000 miles, it will be replaced
- Newer Car Replacement – if your car is not new, but is considered a total loss after an accident, Hanover will pay in cash to replace your damaged vehicle with the exact same vehicle but one model year newer
- Second Chance Accident Forgiveness – your rates will not go up after your first accident in any 36-month period
- Deductible Dividends – reduces the overall cost of your Collision deductible over five years; up to $500 in savings
Then there’s the Platinum Auto Elite package, which includes:
- Pet Injury Protection
- Rental Car Coverage
- Trip Interruption Coverage
- Rental Coverage Upgrade
- Home Care Services
- Accidental Airbag Deployment
- Accidental Death Benefit
Comparing Hanover Insurance Quotes
If you aren’t comparing quotes from multiple companies, you aren’t getting the best deal – period. But even within a single company itself, you should try comparing quotes between different driver profiles to see what you might be expected to pay.
The estimated quotes in the chart above can put some of Hanover’s business practices into context, and give them a better idea of what to expect before speaking with a Hanover agent. There seem to be some savings opportunities for older, married couples who own their own home. There also appears to be some money-saving advantages for good students, even if they are under the age of 25.
Pros and Cons of Hanover Insurance
|Available in most states||Customer complaints related to payments posting too slowly|
|Platinum Coverage packages help customers craft flexible, unique policies|
It’s pretty impressive that Hanover has been around, in some form or another, for the past 164 years. And on top of that, they’re still going strong. But their lack of transparency when it comes to auto policy discounts is a little disconcerting. Regardless, if you’re thinking about purchasing a policy from Hanover, make sure you compare their rates to a few other companies before you make any final decisions.
The Hanover Insurance Group, Inc.
440 Lincoln Street
Worcester, MA 01653-0002