Source: Hanover Insurance – Real Estate Insurance
Hanover Insurance: Real Estate Insurance Appetite
Hanover is a competent real estate market in the Northeast, handling small landlords, property management companies, and real estate offices well. Their property coverage for Northeast residential rentals is competitive. For operations outside their territory or for real estate agent E&O, look to Nationwide or Travelers.
Available Lines
| Line of Business |
|---|
| General Liability |
| Business Owners Policy (BOP) |
| Commercial Property |
| Workers' Compensation |
| Commercial Auto |
| Umbrella/Excess |
Premium Range
$1,500-$12,000
Typical annual premium
Target States
36 states (strongest in Northeast and Mid-Atlantic)
Key Features
- BOP for real estate offices and property management firms
- Commercial property for rental portfolios in their territory
- Habitational coverage for apartment buildings up to 50 units
- Loss of rental income coverage for investment properties
- Competitive rates for Northeast real estate operations
Limitations
- Real estate agent E&O must be placed with separate carriers
- Large commercial portfolios over $20M TIV need individual underwriting
- Not available in 14 states – check geographic eligibility
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