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

Quick Facts

• Looking at the national averages for insurance, Hastings Mutual offers significantly more affordable premiums than Hanover
• Hanover may help you save more money -- they offer more discounts than Hastings Mutual Insurance Company
• Hastings Mutual offers more affordable prices for policyholders whose driving record contains an at-fault collision

Hanover or Hastings Mutual: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering huge savings. But exactly how much can you save by switching?

You've maybe even narrowed it down to Hanover or Hastings Mutual as potential options, but between the two, which carrier will save you the most?

As you can see, Hanover is quite a bit more expensive than Hastings Mutual, with premiums averaging $853 a month compared to just $211 with Hastings Mutual when looking at the national average rates for car insurance.

Even so, Hastings Mutual may not be the lowest or best option for every driver out there. Auto insurance carriers vary their prices depending on things like where you live, how clean your driving record is, how good your credit score is, how old you are, and all sorts of other factors, so rates could change drastically from person to person.

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

Hanover vs. Hastings Mutual: Average Car Insurance Rates by State

Hanover and Hastings Mutual only compete against each other in two states, with Hastings Mutual offering less expensive prices to the average driver in all of them. Illinois has the most noticable difference, where Hastings Mutual rates are 1179 cheaper than insurance premiums at Hanover.

But there's more to calculating car insurance rates than just where you live. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for auto insurance than any other group of drivers. The reason is that teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

That being said, that doesn't mean teen drivers can't still save money on their car insurance. For example, 18-year-old drivers pay an average of over 80% less per month by choosing Hastings Mutual over Hanover.

But with both companies, you'll see your prices lower significantly by the time you turn 25. For example, average premiums for Hanover policyholders decrease more than 60% and Hastings Mutual's rates drop over 45% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Hanover and Hastings Mutual specifically, which company is best for retired drivers? Hastings Mutual gets the edge, with prices for drivers 65 and older $446 more affordable 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 auto insurance premiums than married drivers. This usually boils down to married policyholders having multiple vehicles on their policy -- something quite a few car insurance carriers will reward with discounts.

For single drivers, the difference in average rates between these two companies is significant, with Hastings Mutual premiums coming in at around a quarter of Hanover's. The advantage for married couples with Hastings Mutual is also obvious, where drivers save about $450 a month.

Hanover or Hastings Mutual: Average Rates by Gender

You may not know, but insurance is normally more expensive for men than for women. This is because men are statistically more likely than women to cause a collision and get into accidents, which leads to increased risk for insurers and, therefore, higher prices.

Men usually pay around $60 per month more than women with Hanover, and about $5 more with Hastings Mutual.

Looking at the data for each carrier specifically, Hastings Mutual offers the lowest average premiums for both men and women, with average prices $670 less for men and $615 cheaper for women.

Hanover vs. Hastings Mutual: 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.

Car insurance can be a complicated subject for most people. There are so many different coverages and terms that it can make it pretty confusing to find the right policy for you.

However, most policies end up falling into two different types of coverage -- liability coverage (which provides bodily injury and property damage coverage for other drivers and passengers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability).

Looking specifically at state minimum liability insurance, Hastings Mutual has the significant edge, with average monthly rates coming in at $142. If you want a full coverage policy with the same state minimum limits, Hastings Mutual again has the edge, with policies averaging around $279 a month to Hanover's 1196.

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

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

You'll probably end up paying more with speeding tickets and accidents on your record, but which of these two companies offers the most affordable prices to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Hanover for their auto insurance can normally expect their monthly bill to go up about 26% after getting a speeding ticket. Hastings Mutual policyholders can expect a less drastic increase of around 16%.

That being said, Hastings Mutual tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering rates that are 82% and 85% less expensive, respectively, compared to Hanover Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will increase premiums pretty significantly if you get into an at-fault accident with Hanover increasing by about 35%. Hastings Mutual has a less extreme raise, but you can still expect to pay nearly 15% more than you were prior to your first collision.

At the end of the day, drivers who use Hastings Mutual end up with the cheaper prices after an accident, with average rates coming in at $126 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 speeding ticket when it comes to your car insurance bill. For example, Hanover increases average prices by nearly $400 per month -- that's just under a 40% increase.

But if you end up with a DUI charge and are looking for more affordable premiums, Hastings Mutual tends to be cheaper for the average driver, with monthly premiums coming in at around $478 to Hanover's 1013.

How does Credit Score Impact Hanover and Hastings Mutual Rates?

You may not realized it, but your credit score can be used as one of the factors to determine your monthly auto insurance rates. This isn't true for everyone (for example, Massachusetts and California are two states that ban the practice entirely), but it does affect several drivers out there.

The reasoning insurance companies use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will generally be forced to pay more.

So, which company offers the cheapest rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Hastings Mutual will typically reward you the most. For policyholders with "excellent" credit scores, Hastings Mutual comes in nearly 24.09 more affordable. Drivers with "good" credit scores normally save about 63% with Hastings Mutual compared to average premiums from Hanover.

Which Company is Best for Drivers with Bad Credit?

Hastings Mutual typically offers lower prices than Hanover when it comes to drivers with bad credit. Drivers with "fair" credit pay around 76% a month less with Hastings Mutual compared to Hanover, and those with "poor" scores usually save an average of about 86% per month.

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

How much you drive can have a pretty big impact on how much auto insurance carriers will charge for coverage. That's because the fewer miles you drive, the less likely you are to be in an accident and file an insurance claim.

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

Hanover or Hastings Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a sizable role in how much you pay for insurance. Generally, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because of the number of vehicles that are on the roads where they live.

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

For drivers in urban ZIP codes, Hastings Mutual Insurance Company's average premiums are about 70% less than Hanover Insurance. People who live in suburban areas pay around 79% less with Hastings Mutual compared to Hanover. Those in rural areas can expect to save about 78% with Hastings Mutual compared to Hanover.

Hanover vs. Hastings Mutual Discounts

No matter 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 you can, and the best way to do that is by taking advantage of as many auto insurance discounts as possible.

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Hanover and Hastings Mutual so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Hanover knocks Hastings Mutual out of the park when it comes to the sheer number of discounts available, offering 11 more discounts than Hastings Mutual.

Both companies offer a lot of the same discounts -- like discounts for being a defensive driver, discounts for being a good driver, and passive restraint discounts -- but Hanover also offers discounts for advance quote, annual mileage, distant student, and more.

On the other hand, Hastings Mutual has a few proprietary discounts of their own like company car discounts and prior carrier discounts.

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

So, we've broken down the average prices for many of the variables insurance carriers look at, and walked through the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, is Hanover or Hastings Mutual the right company for you and your specific needs?

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

• You have a speeding ticket on your driving record.
• Your neighborhood is in the suburbs.
• You want to save money while purchasing car insurance for a teenager.

Hanover might be best for you if...

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

Hopefully, this guide helps you get a good idea of the differences between Hanover and Hastings Mutual and that you can now make a more informed decision when it comes to your auto insurance.

At the end of the day, the best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several companies, not just Hanover and Hastings Mutual. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance carriers in your area, all for free.

Hanover vs. Hastings Mutual FAQs

Is Hanover or Hastings Mutual cheaper?

Hastings Mutual is the less expensive of the two companies when looking at national average rates, with policies averaging $211 per month with Hastings Mutual and $853 for Hanover. Even so, that doesn't mean Hastings Mutual will be the cheapest company for every driver, since there are a bunch of different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Hanover or Hastings Mutual?

Sadly, the only answer we can give you is "it depends.". No single carrier is "better" for each policyholder -- it all depends on the makeup of your unique auto insurance profile.

Why do Hanover and Hastings Mutual offer me different rates?

Car insurance carriers use lots of different variables when determining the premiums they charge. Factors like gender, your driving record, age, where you call home, and sometimes even things like your credit score can all be taken into consideration. Both Hanover and Hastings Mutual calculate rates using different variables, so it's likely they'll offer different prices. The best way to determine which company is the lowest for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the insurance carrier that's right for you is by getting quotes from multiple 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 quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Hanover or Hastings Mutual at all, but another you hadn't even thought of!

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.