Central Mutual vs. Hanover: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for auto insurance, Central Mutual offers significantly more affordable premiums than Hanover
• Central Mutual tends to be a much less expensive option for drivers who have received a ticket within the last few years
• Hanover offers more discounts than Central Mutual Insurance

Central Mutual vs. Hanover: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering big discounts, but exactly how much money can you save by switching?

You might have narrowed your search down to Central Mutual or Hanover as potential options, but between the two, which carrier will offer you cheaper rates?

Looking at the national average rates for both companies, Central Mutual is quite a bit cheaper than Hanover, with premiums averaging $340 per month compared to $853 with Hanover.

However, Central Mutual may not be the lowest or best option for each driver out there. Car insurance carriers use all sorts of complex algorithms to calculate prices, so depending on how old you are or how clean your driving record is (among a variety of other factors), you could see wildly different rates from the ones above.

Luckily, we've broken down average premiums from both Central Mutual and Hanover by a bunch of different rate factors, so read on to find out which carrier is the best for you.

Central Mutual or Hanover: Average Car Insurance Rates by State

Central Mutual and Hanover only compete against each other in one states, with Hanover offering more affordable prices to the average driver in all of them. New York has the most noticable difference, where Hanover rates are over 30% cheaper than auto insurance premiums at Central Mutual.

There are plenty of other factors that go into your insurance payment than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance prices of any other group of drivers. It's normally because young, inexperienced drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

That being said, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of more than $500 less a month by choosing Central Mutual over Hanover.

Even so, both companies will offer you dramatically lower rates once you turn 25. For example, average prices for Central Mutual policyholders reduce nearly 45% and Hanover's premiums decrease over 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the most affordable insurance rates you'll ever find. After all, they've likely been driving for quite some time, which usually reduces their chances of accidents and other infractions that can increase premiums.

When looking at Central Mutual and Hanover specifically, which company is best for retired drivers? Central Mutual gets the edge, with prices for drivers 65 and older $338 less expensive than the national average for Hanover.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive car insurance rates than married policyholders. That's typically because married couples tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Central Mutual is the clear winner for single drivers, with premiums about $627 per month cheaper than Hanover, on average. The advantage for married drivers with Central Mutual is also obvious, where drivers save more than $350 a month.

Central Mutual vs. Hanover: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into an accident, which means they'll generally end up paying more for auto insurance than women.

On average, men see rates almost $15 per month higher with Central Mutual, while with Hanover, the difference is closer to $60 a month.

When it comes to the cheapest prices for each gender, Central Mutual offers the lowest average rates for both men and women, with average prices $536 less for men and $490 cheaper for women.

Central Mutual or Hanover: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

It's no secret that insurance can be a complicated subject for most people. Everyone needs car insurance, but there are so many different limits and coverages that it can be hard to find the right policy.

But most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and passengers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with liability).

If you're looking for state minimum liability insurance, Central Mutual normally offers significantly less expensive premiums of $174 compared to Hanover's $509. When it comes to full coverage policies with similar limits, Central Mutual again has the edge, with policies around $500 per month more affordable than Hanover, on average.

Is Central Mutual or Hanover Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that tickets and at-fault collisions lead to higher prices, but which carrier -- Central Mutual or Hanover -- has the most affordable premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Central Mutual policyholders can expect their rates to go up an average of $84 a month if they get a ticket, while Hanover typically raises premiums about $221 per month, on average.

However, Central Mutual is usually the less expensive option for both drivers who have clean records and those with a recent speeding ticket -- their rates are around 61% more affordable for drivers with clean records and 61% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will raise prices pretty significantly if you get into an at-fault accident with Hanover climbing by just under $350. Central Mutual has a less extreme rise, but you can still expect to pay nearly $70 more than you were prior to your first collision.

Overall, drivers who use Central Mutual end up with the cheaper prices after an accident, with monthly rates averaging $311 compared to Hanover Insurance's $943.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your auto insurance bill. On average, Hanover will raise your premiums around 39% after a DUI, while Central Mutual's average prices climb by just under 50%.

If you have a DUI on your record and are looking for more affordable rates, Central Mutual tends to be the much more affordable option with average premiums of $482 monthly compared to 1013 from Hanover.

How does Credit Score Impact Central Mutual and Hanover Rates?

Did you know that many car insurance companies take your credit score into account when calculating prices? This isn't always the case (for example, California and Hawaii are two states that ban the practice entirely), but it does affect quite a few drivers out there.

Auto insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

Looking at Central Mutual and Hanover specifically, which company has the best rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Central Mutual or Hanover Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly prices. That's because the more miles you put on your car, the more likely you are to get into an accident and cause an insurance claim.

For both drivers who put 6,000 miles on their vehicles each year, as well as those who average twice that figure, Central Mutual tends to be the less expensive option. Hanover's average premiums for drivers with 6,000 annual miles come in over $500 more expensive than Central Mutual. Those who drive 12,000 miles annually can expect to pay more than $500 more with Hanover over Central Mutual.

Central Mutual vs. Hanover: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for insurance, but the type of area you live in can have a substantial impact as well. Generally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers because of the number of vehicles that are on the roads in those areas.

Central Mutual boasts the most affordable average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Policyholders in rural ZIP codes see the lowest prices from both companies, but Central Mutual comes out on top with average rates about $228 a month. Central Mutual also has cheaper average premiums for drivers in urban and suburban ZIP codes -- a 45% and 69% a month respective difference when compared to Hanover policyholders in similar areas.

Central Mutual vs. Hanover Discounts

Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many auto insurance discounts as you can.

But with what seems like a million different discounts out there, it can be difficult to find all the ones you can take advantage of or to nail down the carrier that has the most discounts for your unique driver profile.

In the table below, we've taken a look at all of the different discounts Central Mutual and Hanover offer their customers so that you can see which carrier can save you the most money each month.

Hanover knocks Central Mutual out of the park when it comes to the sheer number of discounts available, offering 21 different discounts to Central Mutual's 21.

Both carriers offer quite a few of the same discounts -- like anti-theft discounts, distant student discounts, discounts for getting driver training, and group discounts -- but Hanover also offers advance quote discounts, annual mileage discounts, education discounts, and more that Central Mutual does not.

On the flip side, Central Mutual has a couple unique discounts of its own -- book transfer policy discounts, renewal discounts, teensmart discounts, and more.

Final Thoughts: Is Central Mutual or Hanover Best for You?

You've seen the effect certain factors have on your car insurance and the different discounts companies offer. That's all well and good, but at the end of the day, is Central Mutual or Hanover the right one for you and your specific driver profile?

Central Mutual might be best for you if....

• You've been pulled over for speeding recently.
• You're looking for more protection with "full coverage" insurance.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

Hanover might be best for you if...

• You care about discounts (Hanover offers the most).

We hope this guide helps you get a good idea of the differences between Central Mutual and Hanover. We also hope we've given you the information you need to make the best decision about your insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on auto insurance -- comparing quotes from multiple carriers, not just Central Mutual and Hanover. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best insurance companies in your area, all for free.

Central Mutual vs. Hanover FAQs

Is Central Mutual or Hanover cheaper?

Looking just at the national average rates, Central Mutual is the more affordable of the two carriers, offering average rates of $340 per month compared to $853 for Hanover. But Central Mutual won't necessarily be the cheapest company for every policyholder, since there are a range of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Central Mutual or Hanover?

Unfortunately, the only answer we can give you is "it depends.". Neither carrier is "better" for each driver -- it all comes down to what your unique auto insurance profile looks like. For example, Central Mutual offers less expensive prices for drivers with a recent DUI, while Hanover is cheaper for drivers with excellent credit.

Why do Central Mutual and Hanover offer me different rates?

Car insurance companies take a look at a lot of different factors when determining the rates they charge drivers. Things like age, gender, where you live, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Central Mutual and Hanover calculate prices using different formulas, so each one will most likely offer different premiums. The only real way to see which company is the lowest for you is by comparing personalized quotes from multiple different carriers.

How do I know if Central Mutual or Hanover is right for me?

The only way to find the auto insurance carrier that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the best price. And who knows, the best company for you might not be Central Mutual or Hanover at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.