Short History of Hanover Group Incorporated
19th century New York had a burning problem and the newly formed Hanover Group Incorporated rose to the occasion to protect businesses and homes from the ravages of fire. Ironically, the company would survive several such devastating fires themselves.
By 1916 auto insurance was becoming a big money maker and Hanover stood poised to take advantage of it. Through the decades the companies finances became so solid that they were one of a handful of insurance companies that survived the 1929 stock market crash.
As time progressed The Hanover Insurance Group made many changes in their affiliates, to include cutting the life insurance affiliate programs. Throughout these changes the company stood by its commitment to provide quality services to all its customers. Today, they stand strong as one of the oldest insurance companies in the country.
Pros of Company
One of the most impressive facts about this company’s history is that through more than 100 years of business they have remained financially sound. This company has weathered many storms to include fires, the stock market crash of 1929 and the subsequent Great Depression.
The Hanover Group Incorporated also offers customers the chance to work with someone who will personally assist them in selecting the auto insurance that they need. The ability to work one on one with an agent helps to ensure that customers have a great experience with the company and will return for future needs.
Cons of Company
Unlike many companies that pride themselves on being the provider of service for customers, Hanover Insurance Group is not. Your car insurance policy may be higher to cover the cost of dealing with a third party provider.
Unfortunately, their website is not designed to give quotes on car insurance. So you do not have the ability to do a comparison yourself on how cheap or expensive the policy may be.
Special Services Offered
It’s the perks that can turn a good auto insurance policy into a great one, and Hanover offers some pretty nice perks. The highlights include:
Home Care Service – Which helps pay essentials while you recover from an accident.
Rental Coverage Upgrade – To help you rent a vehicle while yours is in the shop.
Reassurance Plus Endorsement- Accidental Death Benefit and Accidental Airbag Deployment
Coverage options offered will differ depending on the state, so you need to call your agent to be sure products being offered. However, Hanover does provide coverage to these states:
Overall rating and satisfaction
This company is generally considered a medium safe investment, based on the scores received by Moody’s, the Standard and Poor and Fitch Ratings. The financial stability of this company is something to admire. The five subsidiaries that make up the Hanover Insurance Group all received an A.