Is The Hanover Good for Auto Insurance?
Last Updated on October 5, 2019
The Hanover, officially named as The Hanover Insurance Group, Inc. was founded in the United States in 1852. The Hanover, unlike other insurance companies of its time, did not experience exponential growth.
Instead, it wasn’t until the past few decades this group even trained traction, and most motorists did not even know they existed. Right now, they only operate in 17 states, which is one reason they are not as well known as the more national brands. When you look at The Hanover as an insurance option for your motor vehicle, you may wonder how they can compete with the big names in coverage – such as GEICO or State Farm.
The only way to determine if The Hanover is the right choice for you is to understand how they work, what their premiums cost, and if they have perks that make them stand out.
A Quick Review of the Pros and Cons for The Hanover
The Hanover does offer auto insurance coverage, and it has pros and cons, just like any other insurance program.
The Pros of The Hanover for Auto Insurance:
- They offer perks and upgrades thanks to their Connections auto insurance program. You can read more about this program here.
- The Hanover underwrites insurance and they use a network of brokers and agents to ensure their products find the right consumers.
The Cons of The Hanover for Auto Insurance:
- The payment system has numerous consumer complaints, which makes one curious if there are policy lapses with their internal payment processing errors.
Looking at the Features of The Hanover as an Auto Insurance Option
Like other insurance companies, The Hanover does let their customers customize their insurance with various liability limits, enhancements, and then the usual add-ons like roadside assistance, towing, rental car, new car replacement, accident forgiveness, and the chance to reduce your deductible over time.
What is the Price of The Hanover?
When you compare The Hanover’s annual premium costs to other insurance companies, they are some of the highest out there. However, it is all based on what a local agent will quote you. You cannot get a quote online, and there is no way to confirm a quote amount without talking to a local agent.
Customer reviews complain about inconsistencies with their quotes as well, and they are not even in the JD Power’s ranking for 2018 – which can be a red flag to those who want competitive rates and reliable service.
Likewise, the company has worrying customer satisfaction rates on regional levels, which may be another red flag.
It seems that the experience comes down to the broker offering The Hanover, and if the broker does not reflect well, the entire company suffers in reviews. So, while the company may provide excellent insurance coverage, the agents’ consumers are dealing with are not offering the best representation of the company by any means.
What Does Make The Hanover Stand Out?
While it is hard to get a quote, and the company does not have online options, they do have some signature features that keep them out in the competition.
The Platinum Auto program from The Hanover offers fantastic coverage, including the Platinum Auto Essential packages, bundled coverages, vehicle keying and replacement, child seat replacement services, customized equipment, and electronic replacements, and you can change the coverage limits based on the value of the items, including aftermarket, inside your car. Therefore, if you have expensive systems installed, you can increase coverage on that program to ensure they are replaced at market value.
You also have the chance to upgrade over to Platinum Auto Advantage and their Platinum Auto Elite, which maximizes your coverage options.
When recommending The Hanover, these three programs are definitely something to consider.
The Overall Strength of the Company
No one wants to purchase insurance from a company that is struggling, which is why the financial rating of a company matters so much. The Hanover is not the biggest at all in the United States, but they have an excellent score for financial strength, which means they are a contender. The Hanover has a rating of A and Excellent from A.M. Best in 2018 too, which means they are financially stable and capable of paying out claims when they do happen.
Do You Get Discounts?
The Hanover does have discount programs, just like other insurance companies. However, they do not offer information about how much they decrease your premium for, and how they even work. Instead, you would have to again, contact a local agent, and find out more about the potential discounts. Some discount programs they do offer include pay-in-full, anti-theft device discounts, multi-car and multi-policy discounts, good student discounts, and EFT fee-free options for payments.
Summing it All Up
The Hanover is a financially stable insurance company with great perks, but the company solely relies on local agents. Therefore, if the agent in your area is not looking for every discount, or they offer poor customer service, then you may not enjoy your time with this insurance company. Therefore, you should interview potential brokers in the area and find one you like before you sign up for coverage from The Hanover.