Hanover vs. Southern Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Southern Farm Bureau offers significantly cheaper premiums than Hanover
• Hanover offers more discounts than Southern Farm Bureau Insurance
• Southern Farm Bureau offers less expensive average prices for residents of urban areas

Hanover vs. Southern Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. With so many ads from all sorts of companies offering large discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Hanover or Southern Farm Bureau as your top options, but which one will save you the most?

Looking at the national average rates for both companies, Hanover has average rates that are about 90% per month more expensive than those from Southern Farm Bureau.

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

Wanting to know if Hanover or Southern Farm Bureau is really the right company for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Hanover or Southern Farm Bureau: Average Car Insurance Rates by State

Hanover and Southern Farm Bureau only compete against each other in Arkansas, where Southern Farm Bureau offers the cheaper average prices. For Arkansas residents, Southern Farm Bureau offers auto insurance for $103 a month on average. Hanover's average premiums come out to be over 70% more expensive, at $802 per month.

That being said, there's a lot more that goes into your car insurance cost than just the state you live in. Read on to learn more.

Which is the Best Company For Young Drivers?

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

That being said, that doesn't mean that teen drivers have to just accept sky-high car insurance rates. As you can see above, teens who use Southern Farm Bureau save more than $500 a month compared to those who use Hanover.

Even so, both companies will reduce premiums by the time drivers turn 25. Southern Farm Bureau offers the steepest reduction, with 25-year-olds paying less than half 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 normally enjoy the lowest insurance prices you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for auto insurance.

So, which carrier offers the best rates to retired drivers? Southern Farm Bureau gets the edge, with prices for drivers 65 and older nearly 90% less expensive than the national average for Hanover.

Which is the Best Company for Married Drivers?

Did you know that car insurance premiums are typically more expensive for those who are single than they are for married policyholders? That's because policies for married drivers generally cover more than one car, which quite a few carriers will offer you a discount for.

When it comes to relationship status, Southern Farm Bureau is the clear winner for single drivers, with rates around $880 per month more affordable than Hanover, on average. The advantage for married couples with Southern Farm Bureau is also obvious, where drivers save more than $500 a month.

Hanover vs. Southern Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into an accident. That means when it comes to insurance men will typically end up paying a little more.

On average, men see prices about 7% per month higher with Hanover, and around 6% with Southern Farm Bureau.

Looking at overall affordability, Southern Farm Bureau comes out on top for both men and women. On average, women save about $723 a month and men save about $777 with Southern Farm Bureau compared to the average Hanover policyholder.

Hanover or Southern Farm Bureau: 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. Everyone needs car insurance, but there are so many different terms and limits that it can be hard to find the right policy.

But most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause a collision) and full coverage (which generally refers to having comprehensive and collision coverages in addition to liability coverage).

If you're looking for state minimum limits for liability insurance, Southern Farm Bureau normally offers significantly cheaper rates of $54 compared to Hanover's $509. When it comes to full coverage policies with similar limits, Southern Farm Bureau again has the edge, with policies around $500 per month less expensive than Hanover, on average.

Is Hanover or Southern Farm Bureau Better for Drivers with Spotty Records?

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

It's no secret secret that tickets and accidents lead to higher premiums, but which company -- Hanover or Southern Farm Bureau -- has the cheapest prices for drivers with less-than-perfect 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 Southern Farm Bureau usually raises rates about $8 per month, on average.

Even so, Southern Farm Bureau has cheaper prices for drivers in both categories -- their rates are around 86% more affordable for drivers with clean records and 88% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Hanover drivers who get in an accident can expect to see their rates rise by just under 35%, while those who have insurance through Southern Farm Bureau will see around a 25% increase.

Overall, Southern Farm Bureau offers the most affordable premiums for drivers with an at-fault accident on their records, with monthly prices averaging $116 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 speeding ticket or even a collision. On average, Hanover will climb your rates about 39% after a DUI, while Southern Farm Bureau's average premiums increase by just under 20%.

If you have a DUI on your record and are looking for more affordable prices, Southern Farm Bureau tends to be the much cheaper option with average premiums of $108 monthly compared to 1013 from Hanover.

How does Credit Score Impact Hanover and Southern Farm Bureau Rates?

Did you know that many car insurance carriers take into account your credit score when calculating rates? This isn't always the case (for example, California and Michigan are two states that ban the practice entirely), but it does affect many policyholders out there.

Insurance companies 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, drivers with good credit will often be rewarded with more affordable prices.

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with Southern Farm Bureau. Drivers with "excellent" credit can save over 65% compared to Hanover, and those with "good" scores can also expect to see savings -- around $441 or 84% less expensive each month.

Which Company is Best for Drivers with Bad Credit?

Southern Farm Bureau typically offers lower rates than Hanover when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about $750 a month less with Southern Farm Bureau compared to Hanover, and those with "poor" scores generally save an average of around 1756 a month.

Is Hanover or Southern Farm Bureau 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 premiums. Typically, those who drive less will end up with more affordable rates since there's less of a chance of getting into an accident and causing an insurance claim.

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

Hanover vs. Southern Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a considerable role in how much you pay for auto insurance. Usually, those who live in rural areas will pay less than policyholders in urban areas because there are a lot fewer vehicles on the roads in those areas.

Southern Farm Bureau boasts the most affordable average prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Southern Farm Bureau offers premiums around $110 per month compared to Hanover's $966. People who live in suburban ZIP codes can expect to pay about $115 per month for Southern Farm Bureau and $842 for Hanover. Lastly, those in rural areas tend to get the lowest rates from both carriers, with average monthly prices coming in at $83 and $750 for Southern Farm Bureau and Hanover respectively.

Hanover vs. Southern Farm Bureau Discounts

Regardless of why you might be in the market for a new 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 auto 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 table below, we've compared all of the different discounts offered by Hanover and Southern Farm Bureau so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

Hanover knocks Southern Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 17 more discounts than Southern Farm Bureau.

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 ABS discounts, advance quote discounts, annual mileage discounts, and more that Southern Farm Bureau does not.

Southern Farm Bureau's discounts come through just a few categories, including Defensive Driver, Driver Training, Good Student, and more.

Final Thoughts: Is Hanover or Southern Farm Bureau Best for You?

So, we've broken down the average rates for many of the factors car insurance carriers look at, and we've shown you all the discounts each carrier offers. That's all well and good, but when it comes down to it, is Hanover or Southern Farm Bureau the best fit for you?

Southern Farm Bureau might be best for you if....

• You have a DUI charge on your record.
• Your home is in a busy urban area.
• Your neighborhood is in a rural area.

Hanover might be best for you if...

• You're looking for the company with the most discounts.

We hope this guide helps you get a good idea of the differences between Hanover and Southern Farm Bureau. We also hope we've given you the information you need to make the best 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 multiple companies, not just Hanover and Southern Farm Bureau. Luckily, Compare.com does all the hard work for you. Just 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. Southern Farm Bureau FAQs

Is Hanover or Southern Farm Bureau cheaper?

Looking just at the national average prices, Southern Farm Bureau is the less expensive of the two companies, offering average rates of $103 a month compared to $853 for Hanover. That being said, Southern Farm Bureau won't necessarily be the most affordable carrier for everyone, since there are a variety of different variables that come into play when it comes to your insurance payment.

Who is better, Hanover or Southern Farm Bureau?

Unfortunately, the only answer we can give you is "it depends.". One company is not necessarily "better" for everyone -- it all depends on the makeup of your unique car insurance profile.

Why do Hanover and Southern Farm Bureau offer me different rates?

Auto insurance carriers take a look at a lot of different factors when determining the premiums they charge policyholders. Variables such as where you park your car, where your home is, age, gender, and sometimes even things like your credit score can all be used. Both Hanover and Southern Farm Bureau calculate prices using different factors, so each one will most likely offer different premiums. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from many different companies.

How do I know if Hanover or Southern Farm Bureau is right for me?

The only way to find the insurance company that's right for you is by getting quotes from several 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 ZIP code and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be Hanover or Southern Farm Bureau 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.