Ameriprise vs. The Hanover Car Insurance [2022]

In a comparison between Ameriprise vs. The Hanover Car Insurance companies, Ameriprise takes the lead. Both companies are A-rated by A.M. Best and the BBB, but Ameriprise's average annual auto insurance rate is more than $1,000 cheaper. Furthermore, both car insurance companies offer discounts, but the overall savings might not amount to much.

UPDATED: Jun 22, 2022Fact Checked

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A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Written by Laura Berry
Former Insurance Agent Laura Berry

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® Joel Ohman

UPDATED: Jun 22, 2022

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  • Ameriprise and The Hanover both received “A” ratings from A.M. Best and the BBB
  • Both auto insurance companies offer discounts, but they might not amount to much savings
  • Ameriprise’s average annual car insurance rate is more than $1,000 cheaper than The Hanover car insurance’s average annual rate

Comparing car insurance companies can be difficult due to a large number of auto insurance companies on the market. To make things easier, this article will focus on Ameriprise vs. The Hanover.

This Ameriprise car insurance review vs. The Hanover car insurance review comparison will cover average annual car insurance rates, discounts and ratings. 

Before we start comparing  Ameriprise vs. The Hanover car insurance, type your ZIP code into the free tool above to find the most affordable quotes in your area. 

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Does Ameriprise or The Hanover have better rates?

For most people, the best place to start when comparing car insurance rates between companies is to look at their prices. The table below illustrates monthly car insurance rates for liability-only coverage.

Average Monthly Liability-Only Auto Insurance Rates
CompanyAverage Monthly Rates, Liability-Only
American Family$50
Ameriprise$110
Esurance$135
MetLife$69
Safe Auto$115
Safeco$40
The General$35
The Hanover$116
The Hartford$45
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When comparing Ameriprise vs. The Hanover car insurance quotes for liability-only coverage, The Hanover is $6 more per month, which doesn’t amount to huge annual savings.

However, when looking at the average annual rate of all car insurance packages provided by both companies, Ameriprise has better pricing annually.

Average Annual Car Insurance Rates
CompanyAverage Annual Rates
Ameriprise$1,387
Amica$1,071
State Farm$1,340
Progressive$1,365
Esurance$1,165
Safeco$1,655
Safe Auto$1,921
The Hanover$2,492
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As you can see, The Hanover average annual car insurance rate is more than $1,000 per year than Ameriprise’s rate, making it a no-brainer if you’re trying to save annually on your car insurance.

The Hanover is more expensive in both liability-only insurance and has an extremely higher average annual car insurance rate, but like Ameriprise, it does offer other car insurance discounts to help you save.

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Does Ameriprise or The Hanvoer offer more discounts?

Now that you know what you can expect to pay monthly and annually when comparing Amariprise and The Hanover car insurance rates, let’s analyze the table below of major insurers’ discounts to help you save more.

Car Insurance Discounts Available by Company
CompaniesAdaptive HeadlightsAdaptive Cruise ControlAnti-lock BrakesAnti-TheftDaytime Running LightsElectronic Stability ControlForward Collision WarningGreen VehicleLane Departure WarningNewer VehiclePassive RestraintVIN EtchingVehicle Recovery
21st CenturyN/AN/AYesYesYesN/AN/AYesN/AYesYesN/AYes
AAAN/AN/AYesYesYesN/AN/AN/AN/AYesYesN/AYes
AllstateN/AN/A10%10%2%2%N/A10%N/A30%30%N/A10%
American FamilyN/AN/AYesYesYesYesN/AN/AN/AN/A30%N/AYes
AmeripriseN/AN/A3%3%YesN/AN/AN/AN/AN/A3%N/A5%
AmicaYesN/A5%25%N/A5%8%N/AN/AN/A30%N/A10%
Country FinancialYesN/AYes10%YesYesYesN/AN/A10%YesN/AN/A
EsuranceN/AN/A5%25%YesN/AN/AYesN/AYes33%Yes25%
FarmersYesN/AYesYesYesYesN/A5%N/AYesYesYesYes
GeicoN/AN/A5%25%1%N/AN/AN/AN/AYes40%N/A25%
Liberty Mutual5%5%5%20%5%5%5%10%YesN/AYes5%35%
MetLifeYesYes5%10%5%YesYesN/AYesYes5%10%10%
NationwideYesYes5%25%5%YesYesN/AYesYes20%Yes25%
ProgressiveYesYesYesYesYesYesYesN/AYesYesYesYesYes
Safe AutoN/AN/A5%N/A5%N/AN/AN/AN/AYes5%YesYes
SafecoN/AN/AYesYesN/AN/AN/AN/AN/AYes2%YesYes
State FarmN/AN/A5%15%N/AN/AN/AN/AN/A40%40%N/A5%
The GeneralN/AN/A8%8%N/AN/AN/AN/AN/AN/A8%N/A8%
The HanoverN/AN/A5%5%5%N/AN/AN/AN/AN/A5%N/AYes
The Hartford3%N/A3%3%3%N/A3%3%N/A3%3%N/A3%
TravelersN/AN/AYesYesYesN/AN/A10%N/A10%YesYesYes
USAAN/AN/AYesYesYesN/AN/AN/AN/A12%YesYesYes
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As the table indicates, The Hanover offers 5% car insurance discounts in such categories as anti-lock brakes, anti-theft, daytime running lights, and passive restraint.

Ameriprise offers 3% discounts for anti-lock brakes, anti-theft, passive restraint, and a 5% discount for vehicle recovery. But the company doesn’t specify how much they will discount for daytime running lights.

It would be a good idea to create an Ameriprise auto insurance login to check the company’s most up-to-date discounts.

Ameriprise vs. The Hanover: Which company is more well-reviewed?

To conclude, let’s have a look at the ratings given to these two car insurance providers by A.M. Best and the BBB.

Financial Strength Ratings indicate how a car insurance company can meet its financial obligations based upon its rating, which can be an important factor in building a strong customer base.

Ameriprise received an “A+” (Superior) rating from A.M. Best, which is the highest of seven rating tiers. It received an “A-” rating from the BBB and isn’t BBB accredited.

The Hanover received an “A+” rating from A.M. Best as well and scored higher with an “A+” rating from the BBB, and it is BBB accredited.

In short, The Hanover may rank higher in ratings, but Ameriprise takes the lead with more discounts and a much cheaper average annual car insurance rate.

To find out more about Ameriprise vs. The Hanover Car Insurance comparisons and other major car insurers, learn more about the best auto insurance companies.

Hopefully, you know more about Ameriprise and The Hanover after this review. Before you go, type your ZIP code into our free and helpful tool below for quotes in your area.

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