Hanover filed a rate and rule update for its private passenger auto program in Virginia, introducing a new Welcome Discount for new business policies effective May 4, 2026.

The filing is rate neutral overall (0.0%), impacting 5,202 policyholders and approximately $14.7 million in written premium, signaling a strategic pricing adjustment rather than a broad rate change.

The new discount applies to customers who are not currently insured with any Hanover-affiliated company, positioning it as a targeted acquisition tool to attract new drivers into the portfolio.

Discount factors start at 0.80 (20% discount) for the earliest policy terms and gradually phase out over time, reaching 1.00 (no discount) by later terms, indicating a front-loaded incentive designed to improve new business conversion.

The move adds another competitive lever alongside existing pricing elements such as advanced quote discounts and underwriting tier factors, reinforcing Hanover’s focus on new business growth without increasing overall rate levels.