Protect your New Jersey Personal Lines Clients with Coverage from Hanover.
In today’s personal-lines market, finding a carrier that combines competitive pricing, broad coverage and strong service is not always easy. At D.J. Colby Co., Inc., we believe Hanover Personal Lines deserves renewed attention from our New Jersey producers.
Hanover continues to write personal-lines business in the territories it serves. Within our own operation, however, new home-and-auto package opportunities in downstate New York have frequently been difficult to place competitively. While the homeowners portion of an account may compare favorably, the combined package has not always worked for the risks we have submitted.
Our recent experience in New Jersey has been more encouraging. Hanover’s auto pricing appears competitive on a number of New Jersey accounts, creating an opportunity for the home-and-auto package to work more effectively as a whole.
For that reason, we are encouraging our New Jersey producers to consider Hanover when they encounter a suitable package account.
New Jersey is a different story.
Hanover’s automobile pricing is currently more competitive on many New Jersey risks. That can make the total home-and-auto package a viable—and potentially attractive—option for customers who might not fit as well with other carriers.
More Than a Package Discount
The opportunity is not based on price alone. Hanover Platinum Protection combines the home and auto policies in a single account with one effective date, one bill and coordinated claims services.
On the auto side, Hanover offers several levels of protection. Platinum Auto Advantage, for example, includes:
Second-chance accident forgiveness
Deductible dividends
New-car replacement protection
Newer-car replacement coverage
The supplied Hanover materials explain that deductible dividends can reduce the collision deductible by $100 for each claim-free year, up to $500 over five years. They also describe accident forgiveness for the first at-fault accident during a 36-month period, subject to the policy’s terms and state availability.
Additional auto options may include rental upgrades, roadside assistance, OEM-parts protection, trip interruption, pet-injury protection and other enhancements. These features allow producers to present the policy as more than a basic price comparison.
Broad Homeowners Options
Hanover’s Platinum Home program also provides several package levels, allowing coverage to be matched more closely to the customer.
Depending upon the selected level, available features may include extended dwelling replacement cost, replacement-cost coverage on personal property, water-backup protection, personal-injury coverage, identity protection, service-line coverage, increased loss-of-use protection and deductible waivers for qualifying large losses.
For customers with more complex or higher-value insurance needs, Hanover Prestige offers additional flexibility. Prestige is designed around broader protection and customizable options for high-value homes and autos, rather than requiring every customer to purchase the same collection of enhancements.
Prestige Home options include flexible personal-property limits, guaranteed replacement cost with a cash-settlement option, expanded water-backup and service-line protection, ordinance or law coverage, cyber protection and access to a dedicated Prestige claims team.
An Opportunity to Protect the Entire Account
A Hanover package can also open the door to a broader account discussion. Depending upon eligibility and state availability, Hanover may provide options for umbrella coverage, boats, motorcycles and scheduled valuables such as jewelry, wine or coin collections.
That makes Hanover worth considering for customers who value the convenience of placing several personal insurance needs with one carrier, particularly when the New Jersey auto premium helps make the overall account competitive.
Hanover Platinum Auto Advantage
A Timely Opportunity in New Jersey
Every account is different, and pricing will depend upon the individual risk, location, driving history, property characteristics and Hanover’s underwriting guidelines. We are not suggesting that Hanover will be the answer on every New Jersey account.
We are seeing enough favorable results, however, to believe that the company should be part of the conversation when producers are reviewing home-and-auto package opportunities.
Competitive package pricing
Broad coverage options
Account-rounding opportunities
The service of an established admitted carrier
For producers who may not have approached D.J. Colby with Hanover personal-lines business recently, this is a good time to take another look. The right New Jersey account may offer a strong combination of competitive package pricing, broad coverage and account-rounding possibilities.
Please contact the D.J. Colby Personal Lines team to discuss an account or request a Hanover quotation.
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