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

Quick Facts

• Looking at the national averages for car insurance, Frankenmuth offers significantly less expensive premiums than Hanover
• Frankenmuth has more affordable rates for drivers who have less-than-stellar credit
• Hanover offers more discounts than Frankenmuth Insurance

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

So, you're considering switching your auto insurance. After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Frankenmuth or Hanover as your top options, but which carrier will offer you cheaper premiums?

Looking at the national average rates for both companies, Frankenmuth is quite a bit cheaper than Hanover, with prices averaging $318 per month compared to $853 with Hanover.

That being said, that doesn't necessarily mean Frankenmuth will be the more affordable option for every single driver. After all, insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, your credit score, where you call home, or even your driving record (among other things). So, at the end of the day, rates from every carrier will differ quite a bit from person to person.

Luckily, we've broken down average prices from both Frankenmuth and Hanover by lots of different rate factors, so read on to find out which company is the best for you.

Frankenmuth or Hanover: Average Car Insurance Rates by State

Frankenmuth and Hanover only compete against each other in one states, with Frankenmuth offering cheaper rates to the average driver in all of them. Michigan has the most noticable difference, where Frankenmuth premiums are over 70% less expensive than car insurance rates at Hanover.

But there's more to calculating auto insurance premiums than just where you live. Read on to find out more.

Which is the Best Company For Young Drivers?

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. That's generally because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Frankenmuth save more than $500 a month compared to those who use Hanover.

However, with both companies, you'll see your premiums decrease significantly by the time drivers turn 25. For example, average rates for Frankenmuth policyholders lower over 55% and Hanover's prices drop more than 60% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Frankenmuth and Hanover specifically, which carrier is best for retired drivers? Frankenmuth gets the edge, with rates for drivers 65 and older $398 more affordable than the national average for Hanover.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive car insurance premiums than single policyholders. That's generally because married policyholders tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Frankenmuth is the clear winner for single drivers, with prices about $636 per month cheaper than Hanover, on average. The advantage for married drivers with Frankenmuth is also obvious, where drivers save over $400 a month.

Frankenmuth vs. Hanover: Average Rates by Gender

Men tend to pay more for insurance than women. This is because women are less likely to get tickets and get into collisions, which decreases the chances of an insurance claim.

With Frankenmuth, women usually pay around $6 per month less than men, while with Hanover, the difference is closer to $60 a month.

Looking at overall affordability, Frankenmuth comes out as the cheapest option for both genders, with average rates 64% less for men and 62% cheaper for women.

Frankenmuth 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.

For most people, auto insurance can be pretty complicated. There are so many different coverages and terms that it can make it pretty confusing to find the right policy.

Even so, 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 normally refers to having comprehensive and collision coverages in addition to what you get with liability coverage).

If you're looking for state minimum limits for liability insurance, Frankenmuth typically offers significantly less expensive prices of $214 compared to Hanover's $509. When it comes to full coverage policies with similar limits, Frankenmuth again has the edge, with policies about $500 per month more affordable than Hanover, on average.

Is Frankenmuth or Hanover Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

Tickets and collisions will most likely raise your premiums, but is Frankenmuth or Hanover cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Frankenmuth policyholders can expect their prices to go up an average of $74 a month if they get a ticket, while Hanover usually raises premiums around $221 per month, on average.

But Frankenmuth is typically the more affordable option for both drivers who have a recent speeding ticket and those with clean records, offering rates that are 72% and 71% less expensive, respectively, compared to Hanover Insurance.

Which Company is Best for Drivers After an Accident?

Both companies will raise prices pretty significantly if you get into an at-fault accident with Hanover raising by just under $350. Frankenmuth has a less extreme climb, but you can still expect to pay over $40 more than you were prior to your first collision.

Overall, the cheaper premiums come from Frankenmuth, with monthly rates averaging $214 compared to Hanover Insurance's $943.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even a collision. On average, Frankenmuth will raise your premiums about 73% after a DUI, while Hanover's average rates rise by just under 40%.

If you have a DUI on your record and are looking for more affordable prices, Frankenmuth tends to be the much less expensive option with average premiums of $637 a month compared to 1013 from Hanover.

How does Credit Score Impact Frankenmuth and Hanover Rates?

In many cases, your credit score can be used as one of the factors to calculate your monthly auto insurance prices. This isn't always the case (for example, Hawaii and California are two states that ban the practice entirely), but it will come into play for many drivers.

Car insurance carriers argue that those with poor credit scores are less likely to pay their bills on time each month, which increases the risk involved on their end, while the opposite is true for those with good credit.

Looking at Frankenmuth and Hanover specifically, which one has the lowest rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

Did you know that the amount of time you spend in your car have a substantial impact on how much insurance companies will charge for coverage? That's because the fewer miles you put on your vehicle each year, the less likely you are to get into an accident and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Frankenmuth charges. However, there's a small difference in monthly prices for Hanover, with drivers who put 6,000 miles on their car every year paying around $1 less each month compared to those who drive 12,000 miles annually. Still, Frankenmuth is the cheaper option for drivers in both categories.

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

Where you call home can play a big role in how much you pay for auto insurance. Generally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because of the small number of vehicles that are on the roads in those areas.

Frankenmuth boasts the lowest average rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Frankenmuth offers premiums about $399 per month compared to Hanover's $966. People who live in suburban ZIP codes can expect to pay around $288 a month for Frankenmuth and $842 for Hanover. Lastly, those in rural areas tend to get the most affordable prices from both carriers, with average monthly rates coming in at $266 and $750 for Frankenmuth and Hanover respectively.

Frankenmuth vs. Hanover Discounts

You want to save as much money as possible, right? 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 what seems like a million different discounts out there, it may be challenging to find all the ones you qualify for.

In the section below, we've taken a look at all of the different discounts Frankenmuth and Hanover offer their customers so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Hanover knocks Frankenmuth out of the park when it comes to the sheer number of discounts available, offering 10 more discounts than Frankenmuth.

A couple of those are overlapping for things like distant student discounts, discounts for being a good driver, and paid in full discounts. Hanover also offers ABS discounts, annual mileage discounts, anti-theft discounts, and more that Frankenmuth does not.

On the flip side, Frankenmuth has a couple unique discounts of its own -- family discounts, life policy discounts, and renewal discounts.

Final Thoughts: Is Frankenmuth or Hanover Best for You?

So, you've seen how different variables can affect your car insurance prices. We've shown you all the discounts each carrier offers, too. But, when it comes down to it, which insurance company is the right company for you and your specific driver profile?

Frankenmuth might be best for you if....

• You have a clean record.
• Your credit score is high.
• Your neighborhood is in a rural area.

Hanover might be best for you if...

• You're looking for discounts -- Hanover has the most.

We hope this guide has ben a valuable resource as you compare Frankenmuth and Hanover and that it aids in making a more informed decision about your 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 companies, not just Frankenmuth and Hanover. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Frankenmuth vs. Hanover FAQs

Is Frankenmuth or Hanover cheaper?

Looking just at the national average rates, Frankenmuth is the more affordable of the two companies, offering average rates of $318 per month compared to $853 for Hanover. However, Frankenmuth won't necessarily be the lowest carrier for every driver, since there are a bunch of different factors that come into play when it comes to your auto insurance cost.

Who is better, Frankenmuth or Hanover?

Unfortunately, the real answer is "it depends.". Neither company is "better" for each driver -- it all comes down to what your unique insurance profile looks like.

Why do Frankenmuth and Hanover offer me different rates?

Car insurance carriers take a look at lots of different variables when calculating the premiums they charge policyholders. Things such as where you live, age, where you park your car, gender, and sometimes even things like your credit score can all be taken into consideration. Both Frankenmuth and Hanover use different formulas, so each one will most likely offer different rates. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from many different companies.

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

The only way to find the insurance company that's right for you is by getting quotes from a handful of carriers 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 ZIP code and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Frankenmuth 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.