Hanover Insurance Company Overview and Pricing

Author

Reads 5.2K

A Company Logo on a Wall
Credit: pexels.com, A Company Logo on a Wall

The Hanover Insurance Company is a well-established insurance provider with a long history dating back to 1852.

It offers a wide range of insurance products, including auto, home, and business insurance.

Hanover Insurance is known for its financial stability, with a rating of A+ from the A.M. Best Company.

With a network of independent agents and brokers, Hanover Insurance provides personalized service to its customers.

Hanover Insurance's pricing is competitive, with discounts available for bundling policies and maintaining a good driving record.

Some Hanover Insurance policies also offer additional features, such as roadside assistance and rental car coverage.

Overall, Hanover Insurance is a solid choice for those looking for reliable and affordable insurance coverage.

Insurance Products

Hanover Insurance offers a variety of coverage options to suit different needs.

Their basic coverage options include bodily injury liability, property damage liability, personal injury protection, medical payments, comprehensive, collision, and uninsured/underinsured motorist coverage.

You can also customize your policy with extra coverage options such as new car replacement.

Hanover's discounts can help lower your premium, including a multi-car discount, paid-in-full discount, and accident prevention course discount.

Reviews and Ratings

Cheerful Asian female customer standing among hanging clothes in store and smiling
Credit: pexels.com, Cheerful Asian female customer standing among hanging clothes in store and smiling

Hanover Insurance has a solid reputation, with a NAIC rating of 3.2, indicating more customer complaints than its average competitor. This rating is adjusted for the company's size.

Hanover's customer service is a strong point, with a 4.2 rating from J.D. Power and an A+ rating from the Better Business Bureau, which it has been accredited with since 1959.

Hanover's financial strength is also notable, with an A rating from AM Best and a rating of A from the Better Business Bureau.

Here's a summary of Hanover's ratings:

  • AM Best: A
  • J.D. Power: 4.2
  • NAIC: 3.2
  • BBB: A+
  • Average User Rating on WalletHub: 3.4/5

Home Review Highlights

Hanover Insurance offers a range of property insurance options to suit different situations.

Their homeowners insurance policies cover a variety of damage-causing risks, including replacement costs and water backup.

For condo owners, Hanover Insurance policies cover dwelling, personal belongings, loss of use, personal liability, and medical payments to others.

Renters insurance from Hanover Insurance covers personal belongings, loss of use, personal liability, building additions and alterations, medical payments to others, and other options.

Hanover Insurance has reliable property insurance options for various situations, including homeowners, condo owners, and renters.

Reviews

Person Holding Home Insurance Form
Credit: pexels.com, Person Holding Home Insurance Form

Reviews of Hanover Insurance vary, but let's look at some facts. Hanover has a rating of A from AM Best, which is a sign of financial strength.

Hanover's customer service is often praised, but it also has a higher-than-average number of customer complaints, with a NAIC rating of 3.2 and 0.57. This might be worth considering when choosing an insurance provider.

Hanover offers insurance in 28 states, including popular areas like California, Florida, Texas, and New York. This can be a plus for those who live in these states.

Here are some key ratings to consider:

Hanover's reviews on WalletHub are 3.2/5, which might be a bit lower than expected. However, it's essential to consider multiple sources when evaluating an insurance provider.

Discounts and Offers

Hanover Insurance offers a military discount of 25% off auto insurance premiums in Louisiana, but it's only available to eligible members of the US Armed Forces community who are based there or whose spouse and/or dependents live there.

People on Hanover Street in Boston North End, USA
Credit: pexels.com, People on Hanover Street in Boston North End, USA

If you're a Louisiana resident with a military background, be sure to take advantage of this discount. However, if you live in another state, you won't be eligible for this specific discount.

Hanover also offers gap insurance, which pays for the difference between a totaled car's value and your loan or lease balance, and you can add this coverage by speaking to your agent or contacting a customer service representative at 1-800-922-8427.

Company Pricing

The cost of insurance can be a major concern for many people. The good news is that Hanover Insurance Company offers customized pricing plans.

To get a better idea of what you'll pay, you can click the "Get A Quote" button on their website. This will give you a more accurate estimate based on your specific needs.

Does Military Have a Discount?

Hanover offers a military discount, but it's only available in Louisiana, where it's a 25% discount off the auto insurance premium. This discount is exclusive to eligible members of the US Armed Forces community living in Louisiana or whose spouse and/or dependents reside there.

Louisiana is the only state that requires car insurance companies to offer military discounts.

Does Offer?

Design of Brand Logo
Credit: pexels.com, Design of Brand Logo

Hanover offers gap insurance, which pays for the difference between a totaled car's value and the driver's loan or lease balance.

This coverage can be added by speaking to your agent, who can help you understand the specifics of the policy.

Customers without a specific agent can contact Hanover's customer service representative at 1-800-922-8427 for assistance.

Company Legitimacy

The Hanover Insurance has a long history, dating back to 1852, when it was first established in Worcester, MA. This level of experience is impressive and suggests a strong foundation in the industry.

The company's legitimacy is further supported by its A+ rating from the Better Business Bureau. This is a notable achievement, indicating that The Hanover has a track record of satisfying its customers.

Here are some key facts about The Hanover's legitimacy:

  • The Hanover has been in operation since 1852.
  • The Hanover is based in Worcester, MA.
  • The Hanover has an A+ from the Better Business Bureau.

Is Legit?

The Hanover Insurance has been around for a long time, with a history dating back to 1852. It's based in Worcester, MA, and has been in operation for nearly 170 years.

Credit: youtube.com, How to Make Sure a Company Is Legitimate

The Hanover has an A+ rating from the Better Business Bureau, which is a great sign of legitimacy. This rating indicates that the company has met the high standards set by the Better Business Bureau.

Hanover Insurance also has a strong financial foundation, with an A rating from AM Best. This rating is a testament to the company's financial stability and ability to pay out claims.

Here's a quick rundown of Hanover Insurance's legitimacy:

  • The Hanover has been in operation since 1852.
  • The Hanover has an A+ from the Better Business Bureau.
  • AM Best gave The Hanover an A rating.

Overall, The Hanover Insurance seems like a reliable and trustworthy option for insurance needs.

Q&A (22 Questions)

Hanover Insurance Q&A is a valuable resource for understanding the company's services. It's not a financial institution's responsibility to ensure all posts and questions are answered.

The Q&A section is comprised of 22 questions, providing a comprehensive overview of Hanover Insurance's offerings. Editorial and user-generated content is not provided, reviewed, or endorsed by the company.

Hanover Roadside Assistance Covers a wide range of services, including towing, fuel delivery, and lockout service.

Frequently Asked Questions

Who is the parent company of Hanover insurance?

The parent company of Hanover Insurance is The Hanover Insurance Group, Inc. This company oversees Hanover Insurance and Citizens Insurance as its two main divisions.

Is Hanover a good company?

Hanover has a 3.1/5 star rating, indicating a generally positive reputation. Read reviews and compare prices to make an informed decision.

What type of insurance does Hanover offer?

Hanover offers personal lines insurance, including auto, home, and recreational vehicles coverage. Explore our comprehensive insurance options to protect what matters most.

Is Hanover insurance a big company?

Yes, The Hanover Insurance Group is one of the largest insurance businesses in the United States, with a significant presence in the market. Its size and reputation make it a notable player in the industry.

Allison Emmerich

Senior Writer

Allison Emmerich is a seasoned writer with a keen interest in technology and its impact on daily life. Her work often explores the latest trends in digital payments and financial services, with a particular focus on mobile payment ATMs. Based in a bustling urban center, Allison combines her technical knowledge with a knack for clear, engaging prose to bring complex topics to a broader audience.

Love What You Read? Stay Updated!

Join our community for insights, tips, and more.