The Hanover Insurance Group Homeowner's Policy Review

Company Overview

Small boy with his mother using a digital tablet. Getty Images/Thanasis Zovoilis

Few companies can trace their history back as far as The Hanover Insurance Group. The company was founded in 1852 as a property-liability insurance company. It pays cash dividends to its shareholders every year. One of Hanover’s earliest stockholders was author Washington Irving. The company remained a small operation with a steady financial performance until its rapid growth in the 1980s. By the end of the 1980s, Hanover Insurance Group had a book value of $550 million.

The Hanover Insurance Group is one of the top 25 property & casualty insurers in the United States and offers a variety of Property & Casualty insurance products including personal lines, commercial lines and specialized insurance products through a network of over 5,000 independent insurance agents. The company headquarters is located in Worcester, Massachusetts.

Financial Strength and Customer Service Ratings


The Hanover is a financially sound insurance company with a long history of excellence in customer service going back to the days of the Great Chicago Fire in 1871 when the company was praised for having met all claims obligations. A.M. Best insurance rating organization gives Hanover a rating of “A” Excellent. The Standard & Poor's rating is “A-“, while the Moody’s rating is “A3.” The company is a Better Business Bureau accredited business with an “A+” rating. The Hanover Insurance Group is also one of the top-ranking companies in the area of customer satisfaction by J.D. Power & Associates.

Forbes named The Hanover Insurance Group one of America’s most trustworthy companies in 2012.

Homeowner's Policy


You can buy a homeowner’s policy from The Hanover Insurance Group through one of its local agents. They have five different choices of homeowner’s policies (Coverage and limits vary by states).

Some of the extras include guaranteed insurance renewal (not available in all states) and mortgage extra expense. This helps to reimburse you for additional costs such as a higher mortgage interest rate if you suffer a total loss to your home. Here are the types of homeowner’s policies offered by The Hanover Insurance Group:

  • Basic Policy: With The Hanover Insurance Group basic homeowner’s policy you are covered for replacement cost up to the value of your dwelling, other structures (tool sheds, garages), personal belongings (appliances, clothing, furniture), liability claims for bodily injury and property damage as well as medical payments for injuries to others on your property. This coverage does not apply to members of your own household.
  • Select: Select includes everything the basic policy has with the addition of extended dwelling replacement cost of up to 125% of Coverage A (Covers damages to your dwelling), personal property replacement with no deductions for age or condition, food spoilage and lock replacement when your keys are stolen.
  • Select Plus: A select plus homeowner’s policy offers you an extending dwelling replacement cost of up to $150 of your Coverage A (Covers damages to your dwelling). You get up to $10,000 for water back-up or sump overflow, personal injury costs for legal expenses due to privacy invasion, wrongful eviction and wrongful entry; and identity fraud expense.
  • Select Premium: A select premium policy offers all the advantages of select plus, select and the basic homeowner’s policy with a few extras. You can have your deductible waived when losses to your home exceed $50,000. The coverage for water back-up or sump overflow is increased to $25,000. Special personal property coverage additions including breakage of fragile items, lost jewelry or silverware and losses caused by freezing, smog, rust and wear and tear.
  • Select Premium Extra: This is actually not a policy, but an extra endorsement that can be added to your select premium policy. For the extra premium you get guaranteed replacement cost and increased loss of use payments up to 24 months after loss. This is extra protection to cover additional living expenses after your home is damaged. You can also receive payment for expenses for bringing an older home up to current building codes.


    • Multiple Policy Discount
    • Single Loss Deductible (Example: If you have damage to both a covered home and auto, there is only one deductible)
    • New Home Discount
    • No Claims Discount
    • Superior Construction Discount
    • Safety and Security Devices
    • Renewal Credits

    Pros and Cons


    • Financially Sound
    • Excellent Customer Service Record
    • Generous Discounts


    • No quotes available online
    • Some customer complaints of slow claims processing


    Company Contact Information


    To learn more about The Hanover Group’s homeowner’s insurance policy or its other insurance products, you can visit The Hanover Insurance Group website or use the agent locator to find a local agent. You can also reach The Hanover Insurance Group by calling 1-800-853-0456.