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

Quick Facts

• Looking at the national averages for insurance, MMG offers significantly less expensive prices than Hanover
• Hanover may help you save more money -- they offer more discounts than MMG Insurance
• MMG offers more affordable rates for policyholders who drive fewer than 6,000 miles yearly

Hanover or MMG: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. You've probably seen commercials and billboards from companies offering large savings, but exactly how much money can you save by switching?

You might have narrowed it down to Hanover or MMG, but between the two, which company has cheaper premiums for auto insurance?

Looking at nationwide averages, Hanover is quite a bit more expensive than MMG, with prices averaging $853 a month compared to just $118 with MMG.

Even so, MMG may not be the most affordable or best option for each driver out there. Car insurance carriers vary their rates depending on things like how good your credit score is, how clean your driving record is, how old you are, where you live, and a variety of other factors. So, at the end of the day, premiums from every carrier will differ quite a bit from person to person.

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

Hanover vs. MMG: Average Car Insurance Rates by State

Hanover and MMG only compete against each other in one states, with MMG offering more affordable prices to the average driver in all of them. New Hampshire has the most noticable difference, where MMG premiums are $451 cheaper than auto insurance prices at Hanover.

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

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance rates of any other group of drivers. It's usually because teen 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. Just look at the table above -- where 18-year-old drivers who have MMG for their insurance pay over 85% less than those who use Hanover.

But both companies will offer you dramatically lower premiums by the time you turn 25. For example, average prices for Hanover policyholders drop more than 60% and MMG's rates reduce over 50% over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest prices out there.

When looking at Hanover and MMG specifically, which carrier is best for retired drivers? MMG gets the edge here, with average rates coming in at around $83 per month compared to Hanover's $613.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive auto insurance premiums than married drivers. This usually boils down to married policyholders having several vehicles on their policy -- something lots of insurance carriers will reward with discounts.

For single policyholders, the difference in average rates between these two companies is significant, with MMG premiums coming in at about a quarter of Hanover's. For married couples, the advantage is clear again - MMG has the edge when it comes to average prices.

Hanover or MMG: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they are less likely to file a claim with insurance. So, women tend to get cheaper rates than men.

Women generally pay around 7% per month less than men with Hanover, but with MMG, the difference is closer to 13% a month.

Looking at overall affordability, MMG comes out on top for both men and women. On average, male drivers save about $756 per month and women save about $713 with MMG compared to the average Hanover policyholder.

Hanover vs. MMG: 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.

Auto insurance can be a complicated subject for most people. There are several different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

However, most policies that drivers look at fall into two categories -- liability coverage (which provides bodily injury and property damage coverage for other drivers and passengers if you cause an accident) and full coverage (which normally refers to having collision and comprehensive coverages in addition to what you get with a liability policy).

Looking specifically at state minimum liability insurance, MMG has the significant edge, with average monthly rates coming in at $77. If you want a full coverage policy with the same state minimum limits, MMG again has the edge, with policies averaging around $160 a month to Hanover's 1196.

Is Hanover or MMG Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with at-fault collisions and speeding tickets on your record, but which of these two carriers offers the lowest prices to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Hanover for their car insurance can typically expect their monthly bill to go up about 26% after getting a speeding ticket. MMG policyholders can expect a less drastic increase of around 19%.

Even so, MMG tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering premiums that are 85% and 87% more affordable, respectively, compared to Hanover Insurance.

Which Company is Best for Drivers After an Accident?

Hanover drivers who get in a collision can expect to see their rates increase by just under $350, while those who have insurance through MMG will see about a $30 increase.

At the end of the day, the less expensive prices come from MMG, with average premiums coming in at $122 compared to Hanover Insurance's $943.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- usually a lot more than an accident or speeding ticket. For example, Hanover increases average rates by nearly $400 per month -- that's nearly a 40% increase.

But if you end up with a DUI charge and are looking for more affordable premiums, MMG tends to be cheaper for the average driver, with monthly premiums coming in at around $151 to Hanover's 1013.

How does Credit Score Impact Hanover and MMG Rates?

You may not realized it, but your credit score can come into play when companies determine your monthly bill. Certain states and carriers do not allow for credit score to be used as an auto insurance factor, but it does affect quite a few policyholders out there.

The reasoning insurance companies use is that drivers with bad credit will be less likely to pay their bills on time; so generally, they'll be asked to pay more, while those with good credit will be rewarded with less expensive prices.

So, which company offers the best rates for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, MMG will typically reward you the most. For drivers with "excellent" credit scores, MMG comes in more than 65.45 more affordable. Drivers with "good" credit scores normally save about 82% with MMG compared to average premiums from Hanover.

Which Company is Best for Drivers with Bad Credit?

MMG typically offers lower prices than Hanover when it comes to drivers with bad credit. Drivers with "fair" credit pay around 86% a month less with MMG compared to Hanover, and those with "poor" scores typically save an average of about 90% a month.

Is Hanover or MMG 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 how much car insurance carriers will charge for coverage. That's because the more milage you put on your car each year, the more likely you are to be in a collision 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 MMG charges. However, there's a small difference in monthly rates for Hanover, with drivers who put 6,000 miles on their vehicle annually paying around $1 less each month compared to those who drive 12,000 miles every year. Still, for drivers in both categories, MMG is the cheaper carrier.

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

Where you park your car can have a substantial impact on your monthly auto insurance cost. Usually, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers since there are a lot fewer vehicles on the road where they live, which decreases the chances of an accident.

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

For policyholders in urban ZIP codes, MMG Insurance's average prices are about 88% less than Hanover Insurance. People who live in suburban areas pay around 84% less with MMG compared to Hanover. Those in rural areas can expect to save about 86% with MMG compared to Hanover.

Hanover vs. MMG Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can. That's where car insurance discounts comes into play.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all 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 MMG so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Hanover blows MMG away when it comes to the sheer amount of discounts available, offering 14 more discounts than MMG.

Both companies offer quite a few of the same discounts -- like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but Hanover also offers discounts for ABS, advance quote, annual mileage, and more.

On the other hand, MMG has a few proprietary discounts of their own for things like ez-pay credit discounts, new business discounts, and renewal discounts.

Final Thoughts: Is Hanover or MMG Best for You?

So, we've broken down the average premiums for many of the variables auto insurance carriers look at, and walked through the different discounts each company offers, too. That's all well and good, but at the end of the day, is Hanover or MMG the right carrier for you and your specific profile and needs?

MMG might be best for you if....

• You have received a ticket within the last few years.
• Your neighborhood is in a city.
• You don't spend much time in your car.

Hanover might be best for you if...

• You want to save extra money with discounts.

Hopefully, this guide has ben a valuable resource as you compare Hanover and MMG. We also hope we've given you the information you need to make the best decision when it comes to your car insurance.

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

Hanover vs. MMG FAQs

Is Hanover or MMG cheaper?

MMG is the less expensive of the two companies when looking at national average prices, with policies averaging $118 per month with MMG and $853 for Hanover. That being said, that doesn't mean MMG will be the cheapest carrier for everyone, 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 MMG?

Sadly, the only answer we can give you is "it depends.". One company is not "better" for everyone -- it all boils down to your unique insurance profile.

Why do Hanover and MMG offer me different rates?

Car insurance carriers use many different variables when determining the rates they charge. Things such as age, gender, where you call home, your driving record, and sometimes even things like your credit score can all come into play. Both Hanover and MMG calculate premiums using different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the auto insurance company 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 do all the hard work for you. Just enter your information once and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best carrier for you isn't Hanover or MMG 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.