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

Quick Facts

• Looking at the national averages for insurance, Vermont Mutual offers significantly less expensive prices than Hanover
• Hanover may help you save more money -- they offer more discounts than Vermont Mutual
• Vermont Mutual has cheaper rates for policyholders who haven't received any speeding tickets or been in a collision in the last few years

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

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering big savings. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Hanover or Vermont Mutual for your next policy, but between the two, which carrier will save you the most?

Looking at nationwide averages, Hanover has average rates that are around 80% a month more expensive than those from Vermont Mutual.

Even so, that doesn't mean Vermont Mutual will necessarily be less expensive than Hanover for every driver. Auto insurance carriers vary their prices depending on things like how good your credit score is, where you live, how clean your driving record is, how old you are, and a variety of other factors, so rates could vary drastically from person to person.

Luckily, we've broken down average premiums from both Hanover and Vermont Mutual by a bunch of different rate factors, so read on to find out which company is the best for you.

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

Hanover and Vermont Mutual only compete against each other in two states, with Hanover offering cheaper rates to the average driver in all of them. If you live in Massachusetts, Hanover is the more affordable of the two companies when looking at the overall average prices. Vermont Mutual is the cheaper option in New Hampshire.

But there's more to car insurance than just where you call home. As we mentioned above, there's a lot of things that go into how insurance carriers determine your premiums. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for auto insurance than any group on the road. That's normally because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

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 Vermont Mutual for their car insurance pay over 80% less than those who use Hanover.

That being said, with both companies, you'll see your prices drop significantly once you turn 25. For example, average premiums for Hanover policyholders decrease more than 60% and Vermont Mutual's rates reduce over 50% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the lowest insurance prices you can find. After all, they've likely been driving for quite some time, which usually lowers their chances of collisions and other infractions that can raise premiums.

But who has the best rates for retired drivers between Hanover and Vermont Mutual? Vermont Mutual gets the edge, with prices for drivers 65 and older $482 less expensive than the national average for Hanover.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance premiums tend to be more affordable for married couples than they are for those who are single. That's because policies for married policyholders typically cover more than one vehicle, which many carriers will give you a discount for.

For single policyholders, the difference in average rates between these two companies is significant, with Vermont Mutual premiums coming in at about a quarter of Hanover's. The advantage for married drivers with Vermont Mutual is also obvious, where drivers save around $500 per month.

Hanover or Vermont Mutual: Average Rates by Gender

You may not know, but car insurance is usually more expensive for men than for women. That's because men are more likely to get speeding tickets and get into accidents, which raises the chances of filing a claim with insurance.

With Hanover, women generally pay about $60 a month less than men, and around $15 cheaper with Vermont Mutual when compared to their male counterparts.

Looking at the data for each carrier specifically, Vermont Mutual comes out on top for both men and women. On average, male drivers save about $703 per month and women save about $657 with Vermont Mutual compared to the average Hanover policyholder.

Hanover vs. Vermont 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.

Insurance can be a complicated subject for most people. There are a range of 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 an accident.

But the most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which normally refers to having collision and comprehensive coverages in addition to what you get with liability).

Looking specifically at state minimum liability limits, Vermont Mutual has the significant edge, with average monthly prices coming in at $85. If you want a full coverage policy with the same state minimum limits, Vermont Mutual again has the edge, with policies averaging around $261 a month to Hanover's 1196.

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

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

It's no secret secret that at-fault accidents and speeding tickets lead to higher premiums, but which company -- Hanover or Vermont Mutual -- has the most affordable rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Hanover for their car insurance can generally expect their monthly bill to go up about 26% after getting a speeding ticket. Vermont Mutual policyholders can expect a less drastic increase of around 6%.

However, Vermont Mutual is usually the cheaper option for drivers both with a ticket and with a clean record, offering prices that are $500 and $714 less expensive, respectively, compared to Hanover Insurance.

Which Company is Best for Drivers After an Accident?

Hanover drivers who get in an accident can expect to see their premiums increase by just under 35%, while those who have insurance through Vermont Mutual will see about a 20% increase.

At the end of the day, the more affordable prices come from Vermont Mutual, with average rates coming in at $144 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 collision or speeding ticket when it comes to your auto insurance bill. For example, Hanover increases average premiums 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 prices, Vermont Mutual tends to be cheaper for the average driver, with monthly premiums coming in at around $307 to Hanover's 1013.

How does Credit Score Impact Hanover and Vermont Mutual Rates?

You may not realized it, but your credit score can be used as one of the variables to calculate your monthly insurance rates. This isn't true for everyone (for example, are two states that ban the practice entirely), but it might come into play for lots of policyholders.

The reasoning auto insurance carriers use is that drivers 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 typically be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

If you have great credit, Vermont Mutual will normally reward you the most. For drivers with "excellent" credit scores, Vermont Mutual comes in just under 52.73 less expensive. Drivers with "good" credit scores typically save about 77% with Vermont Mutual compared to average premiums from Hanover.

Which Company is Best for Drivers with Bad Credit?

Vermont Mutual typically offers lower rates than Hanover when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 81% a month less with Vermont Mutual compared to Hanover, and those with "poor" scores usually save an average of about 85% a month.

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

How much you drive can have a considerable impact on how much car insurance companies will charge for coverage. Normally, the more milage you put on your car each year, 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 Vermont Mutual charges. However, there's a small difference in monthly prices for Hanover, with policyholders who drive the least paying around $1 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Vermont Mutual is the more affordable company.

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

Where you park your vehicle can have a big impact on your monthly insurance payment. Generally, if you live in an urban area with more cars on the road, you'll pay a little more for auto insurance, while the opposite is true for people in rural areas.

Vermont Mutual tends to offer the most affordable rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save about $598 with Vermont Mutual compared to Hanover. People who live in suburban areas pay around $673 less with Vermont Mutual compared to Hanover. For policyholders in urban ZIP codes, Vermont Mutual's average prices are about $767 less than Hanover Insurance.

Hanover vs. Vermont Mutual 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 with what seems like a million different discounts out there, it can be hard to find all the ones you qualify for or to nail down the company that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and looked at all of the different discounts Hanover and Vermont Mutual offer their customers so that you can find the one that has the most discounts and, therefore, the largest savings.

Hanover blows Vermont Mutual away when it comes to the sheer amount of discounts available, offering 21 different discounts to Vermont Mutual's 14.

Both carriers offer several of the same discounts -- like advance quote discounts, anti-theft discounts, distant student discounts, and discounts for being a good student -- but Hanover also offers discounts for defensive driver, DRL, education, and more.

On the other hand, Vermont Mutual has a proprietary discount of their own -- a renewal discounts.

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

You've seen the role certain factors have on your auto insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which carrier is the right carrier for you and your specific needs?

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

• Your driving record contains an at-fault accident.
• You're looking for the best premiums on liability only coverage.
• You're of retirement age and want to take advantage of lower rates.

Hanover might be best for you if...

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

Hopefully, this guide helps you get a better idea of the difference between Hanover and Vermont Mutual. We also hope we've given you the information you need to make the best decision when it comes to your 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 a handful of carriers, not just Hanover and Vermont Mutual. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Hanover vs. Vermont Mutual FAQs

Is Hanover or Vermont Mutual cheaper?

Vermont Mutual is the cheaper of the two carriers when looking at national average prices, with policies averaging $173 per month with Vermont Mutual and $853 for Hanover. But that doesn't mean Vermont Mutual will be the cheapest company for everyone, since there are several different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Hanover or Vermont Mutual?

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

Why do Hanover and Vermont Mutual offer me different rates?

Auto insurance companies use quite a few different factors when determining the premiums they charge. Variables like gender, where your home is, age, your driving record, and sometimes even things like your credit score can all be used. Both Hanover and Vermont Mutual calculate rates differently, 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 variety of different carriers.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from several companies 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 insurance carriers for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Hanover or Vermont 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.