WORCESTER, Mass., Nov. 12 /PRNewswire-FirstCall/ -- The Hanover Insurance
Group, Inc. (NYSE: THG), a leading writer of auto, home and business insurance
in Massachusetts, announced today that the company is driving to the finish
line with plans to offer its popular Connections(TM) Auto product exclusively
through its valued independent agent partners in Massachusetts.
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With Connections Auto, Massachusetts drivers will benefit from product
innovations and competitive prices not currently available to Massachusetts
drivers.
"We are very excited that the new environment now enables us to introduce
our innovative Connections Auto product to drivers in Massachusetts," said
Vincent Nieroda, president of The Hanover's Massachusetts personal lines
group. "This will be the first of many improvements and innovations we will
deliver to our agent partners and their customers."
The innovations The Hanover will introduce include:
Diminishing deductibles -- Collision damage deductibles will be reduced by
$100 at each renewal, for each year a policyholder goes without a chargeable
accident, up to a maximum of $500. For example, if a policyholder has a $500
collision deductible and does not have a chargeable collision for five or more
years, the company will waive the deductible entirely if the policyholder is
involved in an accident.
Lease/loan gap coverage -- This protection covers the difference between
what a policyholder owes on his or her auto loan or lease and what the vehicle
is worth before it is totaled. As a result, in the event that a policyholder
is involved in an accident and his or her car is a total loss, Connections
Auto will cover the unpaid balance on a lease or loan -- even if it is more
than the value of the vehicle.
Accident forgiveness -- The Hanover under certain conditions will waive
the surcharge for one at-fault accident under a driver's policy every 36
months.
In addition to these distinctive coverages, The Hanover also will make
available new and innovative coverages such as expanded rental reimbursement,
which pays eligible car rental costs for an extended time if an insured's
vehicle is damaged in an accident, and new vehicle replacement cost, which
pays for a new vehicle if an insured's vehicle is involved in an accident and
declared a total loss within one year of purchase.
Available in 17 other states countrywide, Connections Auto has been highly
successful because of its ability to offer competitive coverages, pricing and
the fast quotes that consumers have come to expect.
The Hanover will request approval of Connections Auto from the Department
of Insurance on November 19 and plans to offer the product for new and renewal
business effective on or after April 1.
To help ensure that customers receive the best combination of coverage and
cost, Connections Auto -- like all of The Hanover's products -- will be sold
exclusively through a network of independent agents.
"Soon, Massachusetts drivers will be able to do what drivers across the
country have been doing for years -- purchase their insurance from companies
that are competing aggressively for their business," said Edward Ruhl,
regional vice president at The Hanover. "But, new regulations and more choice
often can be confusing. That's why we believe that the advice of an
independent insurance agent will be more valuable than ever in helping
customers to get the most out of their car insurance."
Connections Auto is part of The Hanover's total account solution for
personal lines insurance, which is backed by responsive claims and customer
service. The company's full suite of products also includes Connections Home,
a unique approach to homeowners insurance; specialty coverage for ATVs,
personal watercraft, jet skis, manufactured homes and collector cars; personal
umbrella coverage; identity theft coverage and more.
*This material is provided for informational purposes only. For detailed
coverage information, please refer to The Hanover's policy language.
About The Hanover
The Hanover Insurance Group, Inc. (NYSE: THG), based in Worcester, Mass.,
is the holding company for a group of insurers that includes The Hanover
Insurance Company, also based in Worcester; Citizens Insurance Company of
America, headquartered in Howell, Mich., and their affiliates. The Hanover
offers a wide range of property and casualty products and services to
individuals, families and businesses through an extensive network of
independent agents, and has been meeting its obligations to its agent partners
and their customers for more than 150 years. Taken as a group, The Hanover
ranks among the top 40 property and casualty insurers in the United States.
For more information, please visit http://www.hanover.com.
CONTACTS:
Media Relations Investor Relations
Amy Lynn BanekSujata Mutalikabanek@hanover.comsmutalik@hanover.com
(508) 855-4486 (508) 855-3457
SOURCE The Hanover Insurance Group, Inc.
Contact: Media Relations: Amy Lynn Banek, +1-508-855-4486, abanek@hanover.com, or Investor Relations: Sujata Mutalik, +1-508-855-3457, smutalik@hanover.com, both of The Hanover Insurance Group, Inc.