The Hanover homeowners insurance

Overview

The Hanover is a publicly traded property-casualty insurer (NYSE: THG) headquartered in Worcester, Massachusetts, and one of the larger U.S. carriers that sells only through independent agents. Its homeowners policies are written mainly by The Hanover Insurance Company and, in Michigan, by Citizens Insurance Company of America, so a Michigan homeowner may see "Citizens" rather than "Hanover" on the declarations page.

The Hanover ranked #30 among U.S. homeowners insurance groups by 2025 direct premiums written, according to NAIC market share data, with $1.06 billion, or 0.56% of the national market. It was the 4th-largest home insurer in Michigan in 2025 ($353.6 million, 7.46% of the market) and 6th in Maine ($36.8 million, 5.11%). Personal lines are about 41% of the company's business; in 2025 its homeowners-and-other line wrote $1.12 billion of net premium, next to $1.49 billion of personal auto.

What it is known for: account selling. The Hanover wants your home, car and umbrella together — about 89% of its personal lines policies in force are multi-policy accounts — and it builds its products around a package rather than a stand-alone home policy.

History

The Hanover Fire Insurance Company opened at Hanover Square in Manhattan in 1852 and appointed its first independent agent in its early years. It paid claims through the great fires of Portland (1866), Chicago (1871) and Boston (1872) and the 1906 San Francisco earthquake and fire. It changed its name to The Hanover Insurance Group in 1958 and moved its home office to Worcester in 1969. In 1974 it bought Citizens Mutual Insurance Company, whose Citizens brand had underwritten the first auto policy in Michigan in 1915.

The current holding company was organized in Delaware in 1995. It sold its life insurance and annuity businesses in 2005 and 2009 (some subsidiaries still carry the Allmerica Financial name), bought OneBeacon's commercial business in 2009, and sold its Lloyd's operation, Chaucer, to China Re in 2018–2019 to concentrate on U.S. independent agents. John C. Roche has been CEO since 2017. On July 15, 2026, The Hanover announced he will retire on December 31, 2026, with chief operating officer Richard W. Lavey, a former president of its personal lines business, named CEO-elect.

Homeowners coverage

The Hanover sells three tiers of home coverage, all through agents:

• Connections is the stand-alone homeowners policy, customized with endorsements.
• Platinum packages home and auto in one account with one bill, one effective date and savings on both policies, plus a 24/7 claims and service line.
• Prestige is for higher-value homes. It adds guaranteed replacement cost "plus" with a cash-settlement option after a total loss (rebuild, downsize or buy elsewhere), contents limits you set between 30% and 150% of the dwelling limit, and up to $2,500 of loss mitigation expense after a claim over $10,000 to keep the same loss from recurring. Prestige Condo starts at $250,000 limits.

Endorsements on the company's coverage page include guaranteed replacement cost, equipment breakdown coverage, water backup and sump overflow, service line, siding and roof restoration (pays to replace the whole elevation or roof when matching material is no longer available; see matching: when new shingles or siding don't match), scheduled personal property, and a waiver of deductible so you pay only the higher deductible when one storm damages both your home and car. Water backup is the one to ask about first: the company notes that basic policies often exclude it.

Discounts and savings

The main saving is the package: insuring home and auto together through Platinum lowers the premium on both. The Hanover also offers a reduced rate on homes with a water leak sensor or automatic water shutoff, and its Partners in Protection program gives policyholders vendor discounts on devices from Moen Flo, StreamLabs, SimpliSafe, Leak Defense System and others. After a device is installed, tell your agent so the credit is added; see water leak sensors and shutoff valves: discounts and value. The Hanover does not publish a full list of named homeowners discounts on its site.

Where it sells and recent market moves

The Hanover markets personal lines in 19 states, according to its 2025 annual report, with its home water-protection program listing Connecticut, Georgia, Illinois, Indiana, Louisiana, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and Wisconsin. It writes no personal lines in California, Texas or Florida. About half of personal lines premium comes from Michigan and Massachusetts; Michigan alone is about 35% of its homeowners premium and Massachusetts about 10%. The company says it is working to diversify away from those two states.

The 2026 numbers show a carrier still repricing. In the second quarter of 2026, The Hanover obtained renewal price increases of about 11% in homeowners, while homeowners policies in force were down 1.6% from a year earlier, which it attributed to fewer policies available to renew after earlier "margin recapture" actions. Homeowners results improved as rate earned in and losses were lighter. If you are renewing with The Hanover, expect continued increases and compare quotes through your agent.

Claims

Report a claim through My Hanover Policy online, the Hanover Mobile app, your agent, or by phone at 800-628-0250. Platinum customers can report 24/7 at 800-799-6977, and Prestige customers have a dedicated claims line at 877-922-2774. The claims page also helps you find a water mitigation contractor. The Hanover uses both virtual and field adjusters, with photo analytics for many smaller personal lines claims and general adjusters for large property losses.

Ratings and reputation

As of July 28, 2026, the company reported financial strength ratings of A (Excellent) from AM Best, A from S&P Global and A2 from Moody's for The Hanover Insurance Company, and A from both AM Best and S&P for Citizens Insurance Company of America. These are solid but a notch below the A+ and A++ ratings of some national competitors. See Financial strength ratings: AM Best, S&P, Moody's and Demotech.

The Hanover reported record earnings through mid-2026, which supports its capacity to pay claims, but its homeowners book has gone through profit-improvement ("margin recapture") actions, and policyholders have felt that in renewal pricing.

Who it suits

The Hanover suits homeowners in its states who work with an independent agent and want home, auto and umbrella coverage packaged with one carrier, including owners of high-value homes who want Prestige's flexible limits. It suits less well single-policy buyers, people outside its 19 states, or anyone looking for the lowest price on a stand-alone home policy.

• Strengths: independent agents only, so the agent can compare it with other carriers; strong package and high-value options with guaranteed replacement cost and matching coverage; A (Excellent) from AM Best and A2 from Moody's.
• Weaknesses: sold in 19 states only; heavy concentration in Michigan and Massachusetts; homeowners renewal increases near 11% in 2026; CEO transition at year-end 2026.

How to contact The Hanover