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

So, you're in the market for a new insurance policy. You may have even narrowed down your search to Chubb and Hanover. But which of these two companies is the best one for you? Read on to find which company has the best premiums and biggest discounts.
Newly insured car driving down the road
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Quick Facts

  • Based on national averages for car insurance, Chubb offers significantly cheaper prices than Hanover
  • Chubb tends to be a much less expensive option for policyholders who may not have much of a commute
  • Hanover offers more discounts than Chubb


Chubb 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 be considering Chubb or Hanover as potential options, but between the two, which carrier will offer you more affordable rates?

Chubb Hanover
$291$853

As you can see, Hanover has average rates that are about 65% per month more expensive than those from Chubb when looking at the national average rates for insurance.

But Chubb may not be the cheapest or best option for every single driver out there. Car insurance companies use a ton of complex algorithms to calculate prices, so depending on how good your credit score is or how old you are (among a lot of other factors), you could see wildly different premiums from the ones above.

Luckily, we've broken down average rates from both Chubb and Hanover by multiple different rate factors, so read on to find out which carrier is the best for you.

Chubb or Hanover: Average Car Insurance Rates by State

State Chubb Hanover
NY$324$564

Chubb and Hanover only compete against each other in one states, with Chubb offering less expensive premiums to the average driver in all of them. New York has the most noticable difference, where Chubb prices are over 70% more affordable than auto insurance rates at Hanover.

There are plenty of other factors that go into your car insurance payment than just the state you live in. Continue reading to learn more about how other factors will affect your rates.


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Which is the Best Company For Young Drivers?

Chubb Hanover
18-year-old drivers$6331951
25-year-old drivers$288$745

You might already know that teen drivers normally pay a lot more for insurance than any other group of drivers out there on the road. Generally, that's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. For example, 18-year-old drivers pay an average of more than $500 less a month by choosing Chubb over Hanover.

That being said, with both carriers, you'll see your rates reduce significantly by the time drivers turn 25. For example, average prices for Chubb policyholders drop nearly 55% and Hanover's rates decrease over 60% over that time.

Which is the Best Company for Retired Drivers?

Chubb Hanover
65+-year-old drivers$187$613

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

So, which company offers the best premiums to retired drivers? Chubb gets the edge, with prices for drivers 65 and older $426 cheaper than the national average for Hanover.

Which is the Best Company for Married Drivers?

Chubb Hanover
Single$3381000
Married$227$656

Did you know that car insurance rates are usually more affordable for married policyholders than they are for those who are single? This usually boils down to married couples having more than one car on their policy -- something many auto insurance companies will reward with discounts.

When it comes to relationship status, Chubb is the clear winner for single policyholders, with prices around $662 per month less expensive than Hanover, on average. For married drivers, the advantage is clear again - Chubb has the edge when it comes to average rates.

Chubb vs. Hanover: Average Rates by Gender

Chubb Hanover
Male$296$883
Female$285$823

Men are statistically more likely than women to get into collisions and get speeding tickets. That means when it comes to car insurance men will normally end up paying a little more.

Men generally pay more than $10 a month more than women with Chubb, while with Hanover, the difference is closer to $60 per month.

When it comes to the lowest premiums for each gender, Chubb comes out on top for both men and women. On average, women save about $538 a month and men save about $587 with Chubb compared to the average Hanover policyholder.


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Chubb or Hanover: Compare State Minimum vs. Full Coverage Rates

Chubb Hanover
State Minimum*$169$509
Full Coverage**$4121196

*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.

For most people, auto insurance isn't the easiest topic to understand. There are so many different limits and coverages that it can make it pretty confusing to find the right policy.

However, most policies that many drivers look at fall into two categories -- liability only (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which typically refers to having comprehensive and collision coverages alongside what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, Chubb normally offers significantly cheaper rates of $169 compared to Hanover's $509. When it comes to full coverage policies with similar limits, Chubb again has the edge, with policies around $500 per month less expensive than Hanover, on average.

Is Chubb 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 -- Chubb or Hanover -- has the most affordable premiums for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Chubb Hanover
Clean Record$223$617
1 Speeding Ticket$261$838

Chubb policyholders can expect their prices to go up an average of $38 a month if they get a ticket, while Hanover typically raises rates about $221 per month, on average.

Even so, Chubb tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket. Drivers with a clean record can save around $394 a month and drivers with a ticket can save about $577 per month with Chubb.

Which Company is Best for Drivers After an Accident?

Chubb Hanover
Clean Record$223$617
1 At-Fault Accident$290$943

Both carriers will raise premiums pretty significantly if you get into an at-fault accident with Hanover climbing by just under $350. Chubb has a less extreme rise, but you can still expect to pay over $65 more than you were prior to your first collision.

Overall, Chubb offers the cheapest rates for drivers with an at-fault accident on their records, with monthly premiums averaging $290 compared to Hanover Insurance's $943.

Which Company is Best for Drivers with a DUI?

Chubb Hanover
Clean Record$223$617
1 DUI$3891013

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- generally a lot more than a collision or speeding ticket. For example, Hanover increases average prices by nearly $400 a month -- that's just under a 40% increase.

If you have a DUI on your record and are looking for more affordable rates, Chubb tends to be the much more affordable option with average prices of $389 per month compared to 1013 from Hanover.


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How does Credit Score Impact Chubb and Hanover Rates?

Did you know that many insurance companies take your credit score into account when calculating premiums? This isn't always the case (for example, California and Hawaii are two states that ban the practice entirely), but it might come into play for several drivers.

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.

So, which company offers the lowest prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Chubb Hanover
Excellent Credit Score$164$220
Good Credit Score$197$526

Which Company is Best for Drivers with Bad Credit?

Chubb Hanover
Fair Credit Score$229$856
Poor Credit Score$5661904

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

Chubb Hanover
6,000 Annual Miles$286$852
12,000 Annual Miles$296$853

The amount of time you spend behind the wheel of your car plays a big role in your monthly insurance cost. Usually, those who drive fewer miles will end up with cheaper premiums since there's less of a chance of getting into an accident and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure, Chubb tends to be the more affordable option. Chubb's average rates for drivers with 6,000 annual miles come in over 65% less expensive than Hanover. Those who drive 12,000 miles yearly can expect to pay more than 65% less with Chubb over Hanover.

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

Where you live can play a large role in how much you pay for auto insurance. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

Chubb Hanover
Urban Areas$360$966
Suburban Areas$260$842
Rural Areas$252$750

When comparing these two companies side-by-side, Chubb usually comes out as the cheapest option for drivers in all areas, regardless of if they're urban, suburban, or rural.

Policyholders in rural ZIP codes see the lowest premiums from both carriers, but Chubb comes out on top with average prices around $252 monthly. Chubb also has cheaper average rates for drivers in urban and suburban ZIP codes -- a $606 and $582 per month respective difference when compared to Hanover policyholders in similar areas.

Chubb vs. Hanover Discounts

Regardless of why you might be in the market for a new auto 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 insurance discounts as you can.

But where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you qualify for.

In the table below, we've taken a look at all of the different discounts Chubb and Hanover offer their customers so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Chubb Hanover
ABS Discount
Advance Quote Discount 
Annual Mileage Discount 
Anti-Theft Discount
Defensive Driver Discount
Distant Student Discount
Driver Training Discount
Driver-Vehicle Combination Discount 
DRL Discount
Education Discount 
EFT Discount 
Experienced Operator Discount 
Good Driving Discount 
Good Student Discount
Group Discount 
Homeowner Discount 
Mature Driver Discount
Multi-Car Discount 
Multi-Policy Discount
Occasional Operator Discount 

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

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, discounts for getting driver training, and mature driver discounts. Hanover also offers advance quote discounts, annual mileage discounts, education discounts, and more that Chubb does not.

On the flip side, Chubb has a couple unique discounts of its own -- driver-vehicle combination discounts, occasional operator discounts, renewal discounts, and more.


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Final Thoughts: Is Chubb or Hanover Best for You?

You've seen the effect certain variables have on your car insurance and the different discounts companies offer. But, at the end of the day, is Chubb or Hanover the best fit for you?

Chubb might be best for you if....

  • You want to save money on your insurance after a collision.
  • You're looking for more protection with "full coverage" auto insurance.
  • You have a short commute.


Hanover might be best for you if...

  • You want to save extra money with discounts.

We hope this guide helps you get a better idea of the difference between Chubb and Hanover. We also hope we've given you the information you need to make the best decision about your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from multiple carriers, not just Chubb and Hanover. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.


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Chubb vs. Hanover FAQs

Is Chubb or Hanover cheaper?

Looking just at the national average prices, Chubb is the more affordable of the two carriers, offering average rates of $291 a month compared to $853 for Hanover. That being said, Chubb won't necessarily be the most affordable carrier for each policyholder, since there are a variety of different factors that come into play when it comes to your car insurance bill.

Who is better, Chubb or Hanover?

Sadly, the answer truly is "it depends.". No single company is "better" for every driver -- it all depends on what your unique auto insurance profile looks like.

Why do Chubb and Hanover offer me different rates?

Car insurance companies take a look at lots of different variables when determining the premiums they charge drivers. Factors like gender, where your home is, age, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Chubb and Hanover calculate rates using different formulas, so each one will most likely offer different premiums. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the insurance company that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be Chubb 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.

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