The Hanover Adds Motorcycle Insurance to Personal Lines Product Suite
The Hanover Insurance Group (NYSE: THG) has launched motorcycle insurance, expanding its personal insurance offerings. Coverage includes touring bikes, cruisers, sport bikes, and more, allowing bundling with home and auto policies. Key features comprise custom coverage, new bike replacement, trip interruption reimbursement, rider safety apparel, and accident forgiveness. Available in select states now, with plans for broader rollout later. This move aims to enhance customer protection and streamline the quoting process for agents. For more details, visit hanover.com/motorcycle-insurance.
- Launch of motorcycle insurance enhances product suite, catering to diverse customer needs.
- Customizable coverage options and streamlined quoting process improve service for agents and customers.
- Availability in select states, with future expansion planned, allows for broader market reach.
- None.
WORCESTER, Mass., April 28, 2021 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced the addition of motorcycle insurance coverage to The Hanover's suite of personal insurance products.
With motorcycle coverage for touring bikes, cruisers, sport bikes, scooters, motorcycle cargo, transport trailers and more, The Hanover offers its independent agents a well-rounded product that can be bundled with home and auto policies, and tailored to each customer's unique needs, featuring a streamlined quoting process in The Hanover's TAP Sales platform.
"We're excited to bring this coverage to our agent partners and our customers," said Daniel Halsey, president of personal lines at The Hanover. "The addition of motorcycle insurance to our portfolio will help our agents write the total account for their customers, making it easier and more efficient for their agencies while better protecting their customers with a suite of personal insurance coverages from a trusted carrier."
The Hanover also offers expanded coverage enhancements that can be easily customized to meet the needs of its customers and their bikes, including:
- Custom and chrome coverage: Coverage included in the base policy with options to increase the amount for custom equipment, including saddlebags, fairings, windshields, luggage racks, custom plating and sidecars, and more, that are not original manufacturer equipment
- New and newer bike replacement guard: Provides replacement cost within one year of the purchase date or up to
120% of a motorcycle's actual cash value one model year newer when in a total loss - Trip interruption: Reimburses up to
$600 for necessary expenses incurred when an insured is more than 100 miles away from home and the motorcycle is damaged and undriveable - Rider safety apparel: Coverage included in the base policy with options to increase the amount for safety apparel, including helmets, riding clothing, boots, gloves, eyewear, earwear worn by the rider or a passenger, and more
- Second chance accident forgiveness: Offers accident forgiveness on the first accident in a three-year period
- Original equipment and mechanical parts: Provides coverage for original manufacturers' parts for the current model and two preceding model years
For customers with complex insurance needs, The Hanover also offers additional motorcycle coverages through its Hanover Prestige offering, including the option to add agreed value cash out, giving the customer the option to take a cash payment if damages to a motorcycle exceed half of the agreed value. The Hanover also offers reduced premiums for the winter season, as well as discounts for rider groups, safety course completion and packaged home and/or auto policies.
The Hanover's motorcycle product is now live in select states with plans to be available in all the company's personal lines states later this year. For more information, please visit: hanover.com/motorcycle-insurance.
About The Hanover
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.
CONTACTS: | |
Emily P. Trevallion | Abby M. Clark |
508-855-3263 | 508-855-3549 |
All products are underwritten by The Hanover Insurance Company or one of its insurance company subsidiaries or affiliates ("The Hanover"). Coverage may not be available in all jurisdictions and is subject to the company underwriting guidelines and the issued policy. This material is provided for informational purposes only and does not provide any coverage. For more information about The Hanover visit our website at www.hanover.com.
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SOURCE The Hanover Insurance Group, Inc.
FAQ
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