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

Quick Facts

• Looking at the national averages for car insurance, Metlife offers significantly less expensive prices than Hanover
• Metlife offers more affordable rates for drivers who have less-than-stellar credit
• Metlife has cheaper prices for drivers with a DUI charge on their record

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

Are you considering a new insurance policy? With so many ads from all sorts of companies offering hefty discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to Hanover or Metlife as your top options, but between the two, which carrier will offer you more affordable rates?

Looking at nationwide averages, Metlife is quite a bit cheaper than Hanover, with premiums averaging $340 per month compared to $853 with Hanover.

Even so, Metlife may not be the lowest or best option for every single driver out there. Insurance companies use a variety of complex algorithms to calculate rates, so depending on how old you are or where you live (among lots of other factors), you could see wildly different premiums from the ones above.

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

Hanover or Metlife: Average Car Insurance Rates by State

Hanover and Metlife compete against each other in seven states, with Metlife offering cheaper premiums to the average driver in all of them. Michigan has the most noticable difference, where Metlife prices are over 70% more affordable than auto insurance rates at Hanover.

But there's more to calculating car insurance prices than just where you live. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for auto insurance compared to older drivers. That's 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 that doesn't mean that teen drivers have to just accept sky-high car insurance premiums. Just look at the table above -- where 18-year-old drivers who have Metlife for their insurance pay more than $500 less than those who use Hanover.

However, both carriers will offer you dramatically lower rates by the time you turn 25. For example, average premiums for Hanover policyholders decrease over 60% and Metlife's rates lower more than 70% over that time.

Which is the Best Company for Retired Drivers?

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

So, which company offers the best premiums to retired drivers? Metlife gets the edge, with prices for drivers 65 and older $408 less expensive than the national average for Hanover.

Which is the Best Company for Married Drivers?

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

When it comes to relationship status, Metlife is the clear winner for single policyholders, with prices about $566 a month less expensive than Hanover, on average. The advantage for married couples with Metlife is also obvious, where drivers save over 65% per month.

Hanover vs. Metlife: Average Rates by Gender

Women generally to pay less for auto insurance than men. This is because men are statistically more likely than women to get into collisions and get speeding tickets, which leads to increased risk for insurers and, therefore, higher rates.

On average, men see premiums around 7% a month higher with Hanover, while with Metlife, the difference is closer to 8% per month.

Looking at the data for each carrier specifically, Metlife offers the cheapest average rates for both men and women, with average prices 60% less for men and 60% cheaper for women.

Hanover or Metlife: 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.

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.

The two most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which typically 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, Metlife normally offers significantly cheaper rates of $215 compared to Hanover's $509. When it comes to full coverage policies with similar limits, Metlife again has the edge, with policies about $500 a month less expensive than Hanover, on average.

Is Hanover or Metlife Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their car 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 collisions and tickets lead to higher premiums, but which company -- Hanover or Metlife -- has the most affordable prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Hanover policyholders can expect their rates to go up an average of $221 per month if they get a ticket, while Metlife usually raises premiums around $59 a month, on average.

That being said, Metlife tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records, offering prices that are $397 and $559 more affordable, respectively, compared to Hanover Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will raise premiums pretty significantly if you get into an at-fault accident with Hanover raising by just under $350. Metlife has a less extreme increase, but you can still expect to pay nearly $150 more than you were prior to your first collision.

Overall, drivers who use Metlife end up with the cheaper prices after an accident, with monthly prices averaging $368 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 rates about 39% after a DUI, while Metlife's average prices rise by over 55%.

How does Credit Score Impact Hanover and Metlife Rates?

You may not realized it, but your credit score can be used as one of the variables to determine your monthly car insurance rates. This isn't always the case (for example, California and Massachusetts are two states that ban the practice entirely), but it might come into play for a lot of drivers.

Insurance companies argue that those with good credit scores are more likely to pay their bills on time each month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

So, which carrier offers the lowest premiums for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Hanover or Metlife 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 car insurance cost. Generally, those who drive fewer miles will end up with cheaper rates since there's less of a chance of getting into a collision and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure, Metlife offers more affordable premiums than Hanover. Hanover's average prices for drivers with 6,000 annual miles come in more than 60% more expensive than Metlife. Those who drive 12,000 miles every year can expect to pay just under 60% more with Hanover over Metlife.

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

Where you call home can have a sizable impact on your monthly auto insurance payment. Normally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

Metlife tends to offer the lowest rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the cheapest prices from both carriers, but Metlife comes out on top with average premiums around $299 a month. Metlife also has cheaper average rates for policyholders in urban and suburban ZIP codes -- a 60% and 60% per month respective difference when compared to Hanover drivers in similar areas.

Hanover vs. Metlife Discounts

You want to save as much money as possible, right? The best way to do that is by utilizing as many car insurance discounts as you can.

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

In the table below, we've compared all of the different discounts offered by Hanover and Metlife so that you can see which one can save you the most money each month.

Metlife knocks Hanover out of the park when it comes to the sheer number of discounts available, offering 15 more discounts than Hanover.

A couple of those are overlapping for things like annual mileage discounts, discounts for being a defensive driver, distant student discounts, and discounts for being a good student. Metlife also offers AAA discounts, academic discounts, agency transfer discounts, and more that Hanover does not.

On the flip side, Hanover has a couple unique discounts of its own -- advance quote discounts, discounts for getting driver training, DRL discounts, and more.

Final Thoughts: Is Hanover or Metlife Best for You?

So, we've broken down the average premiums for many of the factors auto insurance companies look at, and we've shown you all the discounts each carrier offers. But, at the end of the day, is Hanover or Metlife the best company for you and your specific driver profile?

Metlife might be best for you if....

• You want to save money on your insurance after an accident.
• Your credit is below-average.
• You're buying auto insurance for a teen and looking for a wallet-friendly option.

Hanover might be best for you if...

• You have a more unique driver profile than those we mentioned above.

We hope this guide helps you get a good idea of the differences between Hanover and Metlife 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 car insurance policy is to compare quotes from several carriers, not just Hanover and Metlife. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance companies in your area, all for free.

Hanover vs. Metlife FAQs

Is Hanover or Metlife cheaper?

Looking just at the national average rates, Metlife is the less expensive of the two carriers, offering average rates of $340 a month compared to $853 for Hanover. However, Metlife won't necessarily be the most affordable company for everyone, since there are several different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Hanover or Metlife?

Sadly, the only answer we can give you is "it depends.". No one carrier is necessarily "better" for each driver -- it all depends on the makeup of your unique car insurance profile. For example, Metlife offers cheaper prices for drivers with a recent DUI, while Hanover is more affordable for drivers with excellent credit.

Why do Hanover and Metlife offer me different rates?

Auto insurance companies take a look at many different factors when calculating the rates they charge policyholders. Variables like where you live, age, where you park your vehicle, gender, and sometimes even things like your credit score can all come into play. Both Hanover and Metlife calculate premiums using different factors, so each one will most likely offer different prices. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a bunch of different carriers.

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

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