GEICO vs. The Hanover Car Insurance [2021]

Wanting to buy car insurance, but unsure who to go with? Geico vs. The Hanover insurance reviews shows competitive coverage options for potential customers. Car insurance rates are just as competitive. Geico is known for cheap car insurance, but The Hanover insurance rates are much more expensive. Geico's average quote is $44/mo., while The Hanover could cost $197/mo. Read on to learn more about finding affordable car insurance rates.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Dec 1, 2020

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Geico vs. The Hanover Car Insurance Overview
Geico StatsThe Hanover Stats
19361852
5260 Western Avenue Chevy Chase, MD 20815440 Lincoln Street Worcester, MA 01653
All StatesAll States
$6.3 billion$279 million
13.00%0.02%
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It may not be easy to choose between Geico vs. The Hanover car insurance. These decisions are important because it could affect your finances and solutions to accidents.

To help in the decision-making process, we’ve compiled some information regarding Geico car insurance and The Hanover car insurance. Information includes car insurance rates, coverage options, ratings, and discounts.

If you want a look at car insurance quotes close to you, enter your ZIP code in the FREE comparison tool above. For more details on Geico vs. The Hanover car insurance, continue reading.

Geico vs. The Hanover: Comparing Car Insurance Rates

Geico auto insurance is one of the companies in the limelight of the insurance industry. However, The Hanover is a smaller insurance company with $279 million in direct premiums, while Geico has $6.3 billion in direct premiums.

Speaking of premiums, why don’t we compare car insurance rates between Geico and The Hanover? The sub-sections below will show you sample car insurance rates of Geico and The Hanover.

Geico vs. The Hanover: Which is the cheapest by the state?

Geico and Hanover’s insurance is available in all states. No matter where you are in the United States, you should get a policy from Geico insurance and Hanover insurance.

We went on an all-out search for Geico and The Hanover insurance quotes samples, but only 10 states turned up for Hanover auto insurance. To make our comparison fair, we’ll compare Geico car insurance rates to The Hanover using the same states where sample rates are available.

Geico vs. The Hanover Average Annual Car Insurance Rates by States
StatesGeico Average Annual Car Insurance RatesGeico Average Monthly Car Insurance RatesThe Hanover Average Annual Car Insurance RatesThe Hanover Average Monthly Car Insurance Rates
Massachusetts$1,510$126$2,388$199
New Hampshire$1,615$135$4,668$389
Indiana$2,261$188$5,952$496
Arizona$2,265$189$4,896$408
New York$2,428$202$3,936$328
New Jersey$2,755$230$7,632$636
Illinois$2,779$232$5,928$494
Maine$2,823$235$2,940$245
Connecticut$3,074$256$5,508$459
Michigan$6,430$536$7,752$646
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We decided to include the estimated monthly rates to explain how much you’ll pay for Geico auto insurance and Hanover auto insurance.

Between the two companies, Geico is the cheapest insurance company. Massachusetts is the most affordable state for Geico and The Hanover.

Geico vs. The Hanover: Which is cheapest by driving record?

Your driving record is a major factor when determining car insurance rates. Did you know car insurance looks back on your driving record from two to five years?

The standard look-back period for car insurance companies in three years.

Nonetheless, a violation on your driving record can increase your car insurance rates. Continue reading the sub-sections that follow to see how much you’ll pay for each violation.

Rates With One Speeding Ticket

Speeding tickets are minor offenses, which result in a fine. Some car insurance companies may not increase your rates at all. What does Geico and The Hanover have to say about it? Let’s examine the car insurance rates affected by speeding tickets.

Geico vs. The Hanover Average Annual Car Insurance Rates with One Speeding Ticket
Driving ViolationGeico Average Annual Car Insurance Rate with One Speeding TicketThe Hanover Average Annual Car Insurance Rate with One Speeding Ticket
Speeding ticket$1,395$3,156
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The Hanover annual rate is $1,800 more than Geico when determining rates by speeding tickets. If you’re going with Hanover, ask for discounts to get cheap Hanover insurance rates.

Rates With One Car Accident

Accidents are another factor that can turn cheap Geico insurance and Hanover insurance into a costly premium per month. Also, accidents remain on your insurance history for eight years. An organization called the Comprehensive Loss Underwriting Exchange (C.L.U.E.) keeps a record of your accidents on something we know as your insurance credit history.

Geico vs. The Hanover Average Annual Car Insurance Rates with One Accident
ViolationGeico Average Annual Car Insurance Rate with One AccidentThe Hanover Average Annual Car Insurance Rate with One Accident
Accident$1,719$3,384
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The Hanover is the most expensive company among the two when it comes to car insurance determined by accidents. Geico is about $1,600 cheaper than The Hanover.

Rates With One DUI

DUIs/DWIs carry the most expensive increases in the car insurance industry. DUI/DWI is 100 percent preventable, but auto insurance companies understand that these occur more than they should.

According to the National Highway Traffic Safety Administration (NHTSA), 10,511 people died from drunk-driving related crashes in 2018.

The NHTSA reported that 30 people die from drunk-driving crashes per day, which is one person every 50 minutes.

Therefore, companies prepare for risky customers who have DUIs/DWIs on their driving record. Let’s review the average annual rates from Geico and Hanover and see how much DUI/DWI affects their car insurance rates.

Geico vs. The Hanover Average Annual Car Insurance Rates w/ One DUI/DWI
Driving ViolationGeico Average Annual Car Insurance Rate with One DUI/DWIThe Hanover Average Annual Car Insurance Rate with One DUI/DWI
DUI/DWI$2,550N/A
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Geico produced a sample rate for us, but The Hanover omitted this result from our research. Rest assured that Hanover car insurance reviews across the web can guarantee Hanover rates will increase if you have DUI/DWI on your driving record.

Geico vs. The Hanover: What is cheapest by age and gender?

Some states will base your car insurance rates on age and gender. However, some states have banned gender-based auto insurance. Here’s a list of states that banned gender-based car insurance rates.

  • California
  • Hawaii
  • Massachusetts
  • Michigan
  • Montana
  • North Carolina
  • Pennsylvania

For the states with gender-based insurance, we’ve taken the liberty to provide you with sample rates.

Geico vs. The Hanover Average Annual Car Insurance Rates by Age and Gender
Age, Gender, and Marital StatusGeico Average Annual Car Insurance RatesThe Hanover Average Annual Car Insurance Rates
Single 17-year-old female$5,654N/A
Single 17-year-old male$6,279N/A
Single 25-year-old female$2,379N/A
Single 25-year-old male$2,263N/A
Married 35-year-old female$2,303N/A
Married 35-year-old male$2,312N/A
Married 60-year-old female$2,241N/A
Married 60-year-old male$2,283N/A
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Married 60-year-old drivers pay the least for Geico auto insurance, while teens pay the most for auto insurance. Hanover didn’t present any rates. Therefore, you’ll have to get a personalized Hanover insurance quote from the Hanover website or representative.

Geico vs. The Hanover: Which is the cheapest by credit score?

Did you know your credit score can determine how much you’ll pay for insurance?

Watch this news report to see more information on this issue.

Statistics say people with good credit are less likely to file a claim than those with poor credit. Here’s an example of how credit history affecting car insurance rates.

Geico vs. The Hanover Average Annual Car Insurance Rates Based on Credit History
CompanyAverage Annual Rates with Good CreditAverage Annual Rates with Fair CreditAverage Annual Rates with Poor Credit
Geico$2,435$2,987$4,260
The HanoverN/AN/AN/A
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Someone who has good credit pays nearly $2,000 less than someone with poor credit at Geico. The Hanover didn’t show any auto insurance rates, but a good, fair, or improving credit score would help you save money.

Geico vs. The Hanover: Which is the cheapest by annual mileage?

Do you use your car to get to work? Is it a car just for the weekend? These are some examples you’ll find as you’re getting a car insurance quote from Geico and The Hanover.

Annual mileage is the number of miles you’re expected to travel during the policy. The average driver travels 14,025 per year. So how much do you think you’ll pay for auto insurance? Let’s see.

Geico vs. The Hanover Average Annual Car Insurance Rates Based on Annual Mileage
CompanyAverage Annual Car Insurance Rates Based on 10 Miles Commute. 6,000 Annual Mileage.Average Annual Car Insurance Rates Based on 25 Miles Commute. 12,000 Annual Mileage.
Geico$3,163$3,267
The HanoverN/AN/A
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There’s not a big difference in price, but you’ll pay at least $100 more for car insurance based on 12,000 annual mileage. We’re still unsure about The Hanover since the company doesn’t provide specific auto insurance rates for annual mileage.

Geico vs. The Hanover: Which is cheapest by car make and model?

Your vehicle make and model year is another contributing factor when determining auto insurance. The higher the value of the car, the more you’ll pay for car insurance rates.

Geico vs. The Hanover Average Annual Car Insurance Rates by Vehicle Make and Model
Vehicle Make and ModelGeico Average Annual Car Insurance RatesThe Hanover Average Annual Car Insurance Rates
Ford F150 Lariat$3,091N/A
Toyota RAV4 XLE$3,092N/A
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These two popular cars have auto insurance that’s about the same at Geico. Newer vehicles are likely to have higher car insurance rates.

Geico vs. The Hanover: Which is cheapest by coverage level?

Your coverage level is determined on your coverage limits of your state. Each state carries a unique coverage rule. The minimum requirements for car insurance are usually liability coverage.

Liability-only coverage is the lowest level of coverage.

If you think the minimum coverage limits aren’t enough, you can raise your coverage to a medium (50/100/50) or high (100/300/100) level. Let’s see how coverage levels affect annual car insurance rates at Geico and Hanover.

Geico vs. The Hanover Average Annual Car Insurance Rates Based on Coverage Level
CompaniesAverage Annual Car Insurance Rates with Low Coverage LevelsAverage Annual Car Insurance Rates with Medium Coverage LevelsAverage Annual Car Insurance Rates with High Coverage Levels
Geico$3,002$3,214$3,429
The HanoverN/AN/AN/A
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Geico is the only company with available rates. Higher coverage limits will increase your annual auto insurance rates.

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Geico vs. The Hanover: Ratings and Customer Satisfaction

Although Hanover didn’t have much to show regarding car insurance rates, they have ratings in full display across the internet. Ratings and customer satisfaction reviews can help close the door on a lot of doubts about your decision.

Financial strength ratings are important because it shows how well the company is with money and paying claims to customers. Customer satisfaction is the fuel that drives other potential customers to make a sound decision on which company is better.

Let’s explore the ratings and reviews for Geico and The Hanover in the sub-sections below.

Geico vs. The Hanover: What are their financial ratings?

Financial strength and credit ratings are the report cards for businesses like insurance companies. The most credible agencies are A.M. Best, Moody’s, and S&P, which we’ve included in this Geico vs. The Hanover guide.

Geico vs. The Hanover Car Insurance Financial Strength Ratings
Financial Strength Ratings AgenciesGeico Car Insurance Financial Strength RatingsThe Hanover Car Insurance Financial Strength Rating
A.M. BestA++A
Moody'sAa1-A3
S&P'sAA+A
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Overall, Geico and Hanover have excellent ratings. Let’s give an analysis of each rating.

Geico vs. Hanover: A. M. Best Ratings

The “A++” for Geico means Geico has a superior ability to meet its customers’ obligations and carries a strong financial outlook. The “A” for The Hanover means the company has an excellent ability to meet customer obligations.

Geico vs. Hanover: Moody’s Ratings

The “Aa1” means that Geico is subject to low credit risk, while Hanover has an A2 rating. The “A2” rating says that Hanover has upper-medium grade but is subject to low credit risk.

Geico vs. Hanover: S&P Ratings

The “AA+” is an indicator that Geico has a very strong capacity to meet financial commitments. Hanover’s “A” grade shows that the company has a strong ability to meet financial obligations, but shows questionable economic conditions.

Geico vs. The Hanover: How do customers rate them?

Customer feedback can be harsh, exaggerated, or reliable. It’s helpful to know what people are saying about a company.

Many potential customers have run away when they hear about Geico and Hanover insurance lawsuits.

Some of the most reliable places to visit are the Better Business Bureau (BBB)

Geico vs. The Hanover Car Insurance Customer Service Ratings
Customer Service Ratings AgenciesGeico's Car Insurance Customer Service RatingsThe Hanover's Car Insurance Customer Service Ratings
J.D Power Circle Ratings3 out of 54 out of 5
NAIC Claim Index1.470.65
Consumer Reports Reader Score8990
Better Business Bureau (BBB)A+A+
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The Hanover scored higher than Geico in customer reviews. Despite having car insurance rates that were more expensive, The Hanover has customer ratings slightly better than Geico.

Geico vs. Hanover: J.D. Power Auto Claims

Geico’s Power Circle Ratings are about average, but The Hanover has a rating better than most.

Geico vs. Hanover: NAIC Complaint Index

The National Association of Insurance Commissioners (NAIC) records the ratio of complaints from insurance companies and determines if they’re over or under the average ratio of complaints.

The Hanover is below the average number of complaints, while Geico exceeds the average by .47.

Geico vs. Hanover: Consumer Reports

The Reader Score is the total score a company has at Consumer Reports. The Hanover has scored one point over Geico.

Geico vs. Hanover: Better Business Bureau

Hanover insurance BBB rating is the same as Geico’s. Sure, people had trouble through Hanover insurance lawsuits, but the company appears to be hanging there.

Geico vs. The Hanover: What is their market share?

Despite Hanover’s better customer ratings, it has a minimal share in the insurance industry.

Geico is 13 percent in the insurance market share, while The Hanover has 0.02 percent. Thirteen percent doesn’t appear to be a lot, but if you consider the number of insurance companies in the United States, that percentage is significant.

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Geico vs. The Hanover: Car Insurance Coverage and Options

Knowing what you need for car insurance can save you a lot of money going forward. New, leased, or financed vehicles will need full coverage car insurance, while older vehicles you own may only require liability. Whatever your needs are, the car insurance you want should have them.

Follow us through these next sections to get a glimpse of what coverage options and discounts are available at Geico and The Hanover.

Geico vs. The Hanover: What are their coverage options?

Here’s a list of coverage options that’s available at Geico and The Hanover.

Geico vs. The Hanover Car Insurance Coverage Options
Geico Car Insurance CoveragesThe Hanover Car Insurance Coverages
Bodily Injury LiabilityLiability Coverage
Property Damage LiabilityComprehensive Coverage
Medical Payments Coverage (MedPay)Collision Coverage
Personal Injury Protection (PIP)Medical Payments Coverage
Uninsured/Underinsured Motorist Coverage (UM/UIM)Personal Injury Protection
Collision CoverageOriginal Equipment Manufacturer Parts
Comprehensive CoverageRoadside Assistance
Emergency Road ServiceDeductible Waiver
Rental ReimbursementChild Passenger Restraint System Replacement Coverage
Mechanical Breakdown InsuranceMechanical Parts Replacement
Ultimat Rental
Vehicle Key Replacement Coverage
Excess Custom Equipment
Excess Electronic Equipment
New Car Replacement Coverage
Newer Car Replacement
Accident Forgiveness
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The Hanover has more coverage options, but Geico offers the same coverages as Hanover under most of its coverages.

Usage-Based Insurance Programs

The Hanover doesn’t have a usage-based program like Geico’s DriveEasy. However, you can use a SmartPath Mobile App under The Hanover SafeTeen Program.

The SafeTeen Program allows parents to monitor their teen drivers’ habits as they drive.

This is different from DriveEasy, a Geico-affiliated mobile app that monitors customers’ driving habits to save money ultimately.

Geico vs. The Hanover: What discount do they offer?

Discounts are the tread and rubber to cheap car insurance. As you venture into an auto insurance policy, you should be eligible for discounts. Here’s a list of discounts you can receive from Geico and The Hanover.

Geico vs. The Hanover Available Car Insurance Discounts
Geico Car Insurance DiscountsThe Hanover Car Insurance Discounts
Air BagPay-in-Full Discount
Anti-Lock BrakesMulti-Car Discount
Anti-Theft SystemOne Bill
Daytime Running LightsStudent Away at School Discount
New Vehicle DiscountNo-Fee Electric Funds Transfers
Good DriverAnti-theft Device Discount
Seat Belt UseAccident Prevention Course Discount
Defensive DrivingGood Student Discount
Driver's Educational CourseAffinity Groups
Good StudentHanover Platinum Experience
Emergency Deployment
Federal Employee (Eagle)
Membership & Employee
Military
Multi-Vehicle
Multi-Policy
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How much you can save depends on a few circumstances. Discounts can be from 5 to 30 percent. If you qualify for multiple discounts, you’ll be able to save hundreds of dollars per year.

Geico vs. The Hanover: What is the best car insurance company?

The customer best decides the answer to that question, but we can show you some quick highlights.

Geico vs. The Hanover Car Insurance Highlights
Geico is Best For…The Hanover is Best For…
Cheap car insuranceHigher customer ratings
Transparent with DiscountsPlenty of discount options
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You may have more pros and cons to add to our list; however, you should use highlights you found in your decision on which car insurance company is best for you.

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