The design is great, the location is perfect, and you feel awesome. You managed to negotiate a hefty discount with the broker. And now, you are staring at the place you want to call home.
Protecting your home is protecting your family. When you can't leave your family's sake to chance, having dependable home insurance gives you the confidence that someone has got your back should unfortunate events come your way. Finding the best home insurance doesn’t come easy. Talk to an agent or browse through the web, and you’ll be bombarded with sweet-sounding attractive features that will both inform and confuse you.
A Brief Overview Of The Hanover Insurance Group
The Hanover Insurance Group is the holding company for several companies that offer property and casualty insurance. Having one of the longest presence in the industry, its combined subsidiaries constitute one of the biggest insurance companies in the country. Since its establishment in 1852, the Massachusetts based company has been providing auto, home, and business insurance, and has steadily remained strong in each of the market segment they are in. Hanover promises exceptional insurance solutions with its products that are distributed through independent agents and brokers.
The Hanover Coverage
Hanover offers standard and specialized packages that allow customers to choose the plan that is well-suited to their needs. Through Connections Home Insurance, The Hanover offers flexible packages that can be tailored to the client’s lifestyle and choice of home.
Connections Coverage Package
Depending on the package, inclusions vary in proportion and in rate.
- Replacement cost coverage
- Other structures such as non-attached garages and tool sheds
- Personal belongings including furniture, clothing, and appliances
- Liability claims involving bodily injury and property damage
- Medical payments to non-household members who are accidentally injured on your property
- Extending dwelling replacement cost of losses exceeding policy limit (up to 125%)
- Personal property replacement cost for damaged, destroyed, or stolen property with no deduction for age or condition
- Food products in the refrigerator or freezer due to loss of power
- Lock replacement of external locks when keys are stolen
- Extended dwelling replacement cost exceeding policy limit (up to 150%)
- Water back-up and sump overflow covering property losses and clean up from water backing up through sewers or drains or sump overflow up to $10,000
- Personal injury costs including lawsuits involving invasion of privacy, wrongful eviction or wrongful entry
- Identity fraud expense providing reimbursement for legal fees, document duplication, mailing cost, and more
- Deductible waived when losses to your home exceed $50,000
- Increased water back-up and sump overflow coverage up to $25,000
- Special personal property losses
- Guaranteed replacement cost ensuring full replacement cost of loss regarding rising materials and labor cost
- Increased loss of use limit to the actual loss sustained during a coverage period – up to 24 months from time of loss
- Important “extras” you may face when you have a covered loss, such as debris removal, bringing your older home up to current building code, permit fee, etc.
Hanover Homeowners Insurance Discounts
- Newer home credit
- Credits for no claims over a period of time
- Superior construction credit
- Safety and security devices (smoke detectors and central station alarms)
- Renewal credits
A.M. Best gives The Hanover Insurance Company an A (Excellent) rating. This reflects The Hanover’s financial strength, credit, and ability to fulfill financial obligations to their clients. With 5 of its subsidiaries receiving a similar rating, The Hanover Insurance Group is certainly financially stable.
BBB gives an A+ rating to The Hanover Insurance, the highest score that the Better Business Bureau can give to an organization for its excellent business practice.
J.D. Power 2017 Property Claims Satisfaction Study ranked Hanover Insurance (together with another company) as the highest in overall satisfaction.
The Pros And Cons Of The Hanover
We've seen how The Hanover fared as a company. With the standard and specialized coverage options, no doubt that the company has a better capacity to serve a broader customer base with its tailor-fit insurance solutions. But let's see how Hanover's promise of excellent product offerings translates into tangible advantages for prospective clients.