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The Hanover auto insurance review for 2021

Fact-checked with HomeInsurance.com

The Hanover was founded in Manhattan in 1852 as the Hanover Fire Insurance Company. Today, the insurer provides insurance and financial services to individuals and businesses nationwide through offices in 26 states. The Hanover reviews from policyholders are positive. The provider is best for customers with high-end vehicles who prefer a pre-packaged auto insurance package loaded with features. You can choose from Platinum and Prestige bundles for top quality car coverage.

The Hanover Quickpoints

  • Average full coverage premium: $2,492
  • Region offered: Nationwide
  • Market share: 0.50%
  • AM Best rating/financial strength profile: A (Excellent)
  • J.D. Power claims satisfaction rating: 3/5
  • Specialty coverages: high value, luxury, exotic car

The Hanover customer satisfaction and complaints

The Hanover insurance reviews are below average in J.D. Power’s regional claims satisfaction study. The Hanover ratings for New England are just below average at 817/1000. In the more competitive market of the North Central region, the carrier slides towards the bottom with a score of 807, to 18th place out of 23 slots. As a smaller provider overall, The Hanover was not included in the J.D. Power overall claims satisfaction list.

J.D. Power surveys a cross section of policyholders to rate insurance companies according to customer feedback. Larger insurers may rank easier, although they could suffer in score when it comes to claims satisfaction. As The Hanover wasn’t represented in the survey lists, it’s possible there aren’t enough customers in the area to outrank other more established insurance companies.

How factors affect The Hanover’s auto insurance rates

The Hanover is best known for providing coverage for high-value vehicles. Because the vehicles are more expensive in price and are typically fully insured, that can cause the cost of car insurance coverage to be more expensive. The Hanover’s annual average rate for full coverage is $2,492. Minimum liability-only insurance came in at $1,592 per year. Other factors, as indicated below, can compound costs.

Average ratesAccidentSpeeding ticketPoor credit
$2,492N/A (no data)$3,064$3,751

How driving record affects The Hanover car insurance rates 

Accidents

Car insurance is designed to financially protect you in case you cause an accident. After all, accidents can be expensive when you factor medical bills, lost wages, property damage and any judgements against you. Fortunately, your car insurance typically covers the bulk of these expenses. 

However, insurance companies may try to recoup some of the costs from an accident by raising your car insurance rates. We don’t have data from The Hanover available to provide an exact rate, but expect it to climb overall if you have an accident on record

Speeding ticket

Speeding tickets raise your insurance rates because car insurance companies consider speeding a risky driving activity. Statistically, speeding is often one of the common factors that leads to an accident. Insurance companies are in the business of risk assessment. If you’re cited for speeding, your insurer will likely consider you a greater risk and it will be reflected in your rates. 

Expect to see your auto insurance rates from The Hanover go up at least $500 for the year and stay there for three years — the standard amount of time insurers keep moving violations on your insurance record.

How poor credit affects rates

Many drivers don’t realize that their credit score not only makes a difference on whether they’ll qualify for a mortgage or credit card, but could also affect their car insurance premiums. For your score to be considered low, you may have accounts in collections, unpaid past-due bills and judgements. A car insurance company may decide that your failure to pay your bills makes you a risker person to insure and raise your rates accordingly. In the case of The Hanover, rates increased about $1,500 annually with poor credit as a factor.

If you have poor credit, it’s best to comparison-shop for car insurance quotes. The same type of coverage could vary greatly in cost from one insurer to another. Focus on improving your credit score to see long-term savings. Even raising it a few dozen points could lower your car insurance rate. Once you see improved scores, ask your insurer to review your credit and adjust your insurance premiums.

The Hanover auto insurance discounts

While The Hanover caters more to policyholders with high-value cars, everyone likes a good deal. Hanover rewards customers for their loyalty with the following discounts:

  • Accident prevention/driver safety courses
  • Anti-theft devices
  • Good student
  • Multi-car
  • Paid-in-full
  • Student away at school

The Hanover auto insurance premium length

The Hanover provides annual policies and encourages review of these policies every 12 months. One advantage to a 12 month policy is having a rate locked in with no changes for the duration of the policy term. Once the policy is up for renewal, rates may change based on your driving record and other factors. 

The Hanover vs. other insurance companies

CompanyJ.D. Power Score/ (Overall)J.D. Power Score (claims satisfaction)AM BestAverage rate full coverage
The Hanover8173/5A (Excellent)$2,492
AAA8693/5A (Excellent)$1,948
Allstate8584/5A+ (Superior)$1,896
American Family8783/5A (Excellent)$1,218
Amica8615/5A+ (Superior)$1,449
Auto-Owners8695/5A++ (Superior)$1,308
Erie8805/5A+ (Superior)$1,141
Farmers8492/5A- (Excellent)$1,540
GEICO8754/5A++ (Superior)$1,260
The Hartford8954/5A- (Excellent)$1,572
MetLife8612/5A+ (Superior)$1,923

The Hanover mobile app and digital experience 

The following digital tools and resources are available for policyholders to manage their auto insurance: 

  • The Hanover mobile app for Apple and Android 
  • Order roadside assistance from the app
  • Manage your account and pay bills from the website and app
  • Get guidance in case of an accident from the mobile app
  • File a claim from the app or website
  • File glass claims and schedule service from the mobile app with The Hanover’s partner Safelite

Alternative insurance products offered by The Hanover

ProductDiscounts
HomeownersAffinity groups
Bundled policy
Payment method
New home
Safety and security devices
RentersAffinity groups
Bundled with auto insurance
Payment method
Safety and security devices
LifeN/A

In the spotlight

  • Best for owners of high-value vehicles.
  • Robust mobile app allows you to file claims and schedule glass replacement.
  • The Hanover Foundation focuses on youth-based community programs and education.

Methodology

Coverage Utilizes Quadrant Information Services to analyze quoted rates from thousands of zip codes across all 50 states, using The Hanover’s premiums written. Quoted rates are based around the profiles of a 30-year-old male and female with clean driving records, good credit and the following full coverage details:

  • $100k bodily injury liability per person
  • $300k bodily injury liability coverage per crash
  • $100k property damage liability coverage per crash
  • $500 collision coverage deductible
  • $500 comprehensive coverage deductible

Minimum coverages were applied to match state requirements. Both drivers used a new, financed 2018 Toyota Camry, commuting 5 days a week and driving 12,000 miles per year.

An accident was defined as an at-fault accident with $3k in property damage. A speeding incident was defined as speeding 16-20 MPH over the limit.

These rates were publicly sourced from insurer filings and should be used for comparative purposes only – your own quotes may be different.

Cynthia Paez Bowman

Writer

Cynthia splits her time between Los Angeles, CA and San Sebastian, Spain. She travels to Africa and the Middle East regularly to consult with women’s NGOs about small business development.

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