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

Quick Facts

• In general, Selective offers significantly less expensive prices than Hanover
• Hanover offers more discounts than Selective Insurance
• Selective offers more affordable rates for residents of suburban areas

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

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

You might be considering Hanover or Selective as your top options, but between the two, which carrier will offer you cheaper prices?

As you can see, Selective is quite a bit cheaper than Hanover, with rates averaging $184 per month compared to $853 with Hanover when looking at the national average rates for car insurance.

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

So, if you want to find out which of Hanover or Selective is really the best for you, keep reading to see average prices for each carrier broken down by a variety of different rate factors.

Hanover or Selective: Average Car Insurance Rates by State

Hanover and Selective only compete against each other in New Jersey, where Selective offers the cheaper average premiums. For New Jersey residents, Selective offers car insurance for $184 monthly on average. Hanover's average prices come out to be over 70% more expensive, at $796 per month.

There are plenty of other factors that go into your auto insurance cost than just your home state. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. That's normally because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Selective for their insurance pay more than $500 less than those who use Hanover.

But both carriers will drop premiums once you turn 25. Selective offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Hanover's average rates lower over 60% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the cheapest auto insurance prices out there. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for insurance.

But who has the best rates for retired drivers between Hanover and Selective? Selective gets the edge, with premiums for drivers 65 and older more than 80% more affordable than the national average for Hanover.

Which is the Best Company for Married Drivers?

Did you know that car insurance prices are generally more expensive for those who are single than they are for married drivers? That's usually because married policyholders tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Selective is the clear winner for single policyholders, with rates about $782 a month less expensive than Hanover, on average. The advantage for married couples with Selective is also obvious, where drivers save nearly 80% per month.

Hanover vs. Selective: Average Rates by Gender

Men are statistically more likely than women to get tickets and get into accidents. That means when it comes to auto insurance men will generally end up paying a little more.

Typically, men see prices around $60 a month higher with Hanover, and about $10 with Selective.

When it comes to the most affordable premiums for each gender, Selective comes out on top for both men and women, with average prices 79% less for men and 78% cheaper for women.

Hanover or Selective: 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, car insurance isn't the easiest topic to understand. Everyone needs insurance, but there are so many different terms and limits that it can be hard to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability).

If you're looking for state minimum liability limits, Selective normally offers significantly more affordable rates of $127 compared to Hanover's $509. When it comes to full coverage policies with similar limits, Selective again has the edge, with policies around $500 per month cheaper than Hanover, on average.

Is Hanover or Selective Better for Drivers with Spotty Records?

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

Tickets and accidents will most likely raise your prices, but is Hanover or Selective more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Hanover policyholders can expect their premiums to go up an average of $221 a month if they get a ticket, while Selective typically raises rates about $76 per month, on average.

That being said, Selective is generally the less expensive option for drivers both with clean records and with a speeding ticket, offering premiums that are $476 and $621 cheaper, respectively, compared to Hanover Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will increase prices pretty significantly if you get into an at-fault accident with Hanover increasing by just under $350. Selective has a less extreme climb, but you can still expect to pay over $20 more than you were prior to your first collision.

Overall, drivers who use Selective end up with the cheaper prices after an accident, with monthly rates averaging $162 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. Hanover drivers usually see a 39% increase in their car insurance prices after a DUI charge, while Selective will usually raise rates by around 35%.

If you have a DUI on your record and are looking for more affordable premiums, Selective tends to be the much less expensive option with average rates of $217 a month compared to 1013 from Hanover.

How does Credit Score Impact Hanover and Selective Rates?

Often times, your credit score can come into play when companies calculate your monthly bill. This isn't always the case (for example, Michigan and California are two states that ban the practice entirely), but it might come into play for many drivers.

Auto insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with cheaper prices.

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

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with Selective. Policyholders with "excellent" credit can save just under 20% compared to Hanover, and those with "good" scores can also expect to see savings -- about $346 or 66% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

Selective typically offers lower prices than Hanover when it comes to drivers with bad credit. Drivers with "fair" credit pay around $673 a month less with Selective compared to Hanover, and those with "poor" scores typically save an average of about 1709 per month.

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

How much you drive can have a considerable impact on how much insurance companies will charge for coverage. Normally, the more miles you drive, the more you can expect to pay for coverage.

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

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

Where your home is can play a substantial role in how much you pay for car insurance. Usually, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

When comparing these two carriers side-by-side, Selective normally comes out as the lowest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, Selective offers premiums about $210 monthly compared to Hanover's $966. People who live in suburban ZIP codes can expect to pay around $204 per month for Selective and $842 for Hanover. Lastly, those in rural areas tend to get the cheapest rates from both companies, with average monthly prices coming in at $139 and $750 for Selective and Hanover respectively.

Hanover vs. Selective 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 what seems like a million different discounts out there, it may be hard to find all the ones you're eligible for.

In the section below, we've taken a look at all of the different discounts Hanover and Selective offer their customers so that you can see which one can save you the most money each month.

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

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, discounts for getting driver training, and group discounts. Hanover also offers ABS discounts, annual mileage discounts, DRL discounts, and more that Selective does not.

On the flip side, Selective has a couple unique discounts of its own -- occasional operator discounts and prior insurance discounts.

Final Thoughts: Is Hanover or Selective Best for You?

You've seen the effect certain factors have on your car insurance and the different discounts carriers offer. But, when it comes down to it, which carrier is the best company for you and your specific needs?

Selective might be best for you if....

• You're single and purchasing auto insurance by yourself.
• Your neighborhood is in a city.
• You have a short drive to work everyday.

Hanover might be best for you if...

• You care about discounts (Hanover offers the most).

We hope this guide helps you get a better idea of the difference between Hanover and Selective and that you can now make a more informed decision when it comes to 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 several companies, not just Hanover and Selective. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Hanover vs. Selective FAQs

Is Hanover or Selective cheaper?

Looking just at the national average premiums, Selective is the less expensive of the two companies, offering average rates of $184 a month compared to $853 for Hanover. However, Selective won't necessarily be the most affordable company for every policyholder, since there are a bunch of different variables that come into play when it comes to your auto insurance bill.

Who is better, Hanover or Selective?

Sadly, the answer truly is "it depends.". No single carrier is necessarily "better" for each driver -- it all boils down to your unique insurance profile.

Why do Hanover and Selective offer me different rates?

Car insurance carriers take a look at several different factors when calculating the rates they charge policyholders. Things such as your driving record, gender, where you park your vehicle, age, and sometimes even things like your credit score can all be used. Both Hanover and Selective use different formulas, so each one will most likely offer different premiums. The only real way to see which company is the lowest for you is by comparing personalized quotes from multiple different companies.

How do I know if Hanover or Selective 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 free quotes from dozens of the best car insurance companies in your area. With those, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Hanover or Selective 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.