Tower Hill Homeowners Insurance Review

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The details

The good

​​Comprehensive coverage offerings. Tower Hill offers three comprehensive coverage options — one for mid-sized homes and two  for high-value properties that need extra protection. Homeowners can also choose to add coverage endorsements — from water backup and flood coverage to scheduled personal property coverage — individually or through its endorsement packages .

Flood endorsement option. Most insurance companies offer government flood insurance through the National Flood Insurance Program (NFIP). But Tower Hill goes above and beyond, offering the choice of NFIP coverage or private flood insurance. You can choose to add its private flood insurance option  as anendorsement to your standard homeowners insurance policy, or take out a separate flood policy altogether. If you opt for its flood endorsement and your home is damaged bya windstorm and flooding during the same tropical storm, you're able to file a single insurance claim.

The Bad

Currently only available in Florida. Tower Hill only works with homeowners in the Sunshine State for its standard home insurance policies..

Not much info available on its website. Tower Hill doesn't provide many details about its base coverages or endorsements online — you’ll have to call and speak to a representative for even the most basic information about its policies.

While Tower Hill rates are higher than the average quoted policy nationally, they're still competitive for the industry. Homeowners who received a Tower Hill quote with Policygenius were quoted an average of $1,787 annually for coverage.

Keep in mind the amount of coverage you sign up for plays one of the biggest factors in determining your rates. . Here’s the average cost of homeowners insurance at different levels of coverage with Tower Hill to give you an idea of how much you might pay

Average annual homeowners insurance premiums for each coverage level were calculated using Policygenius quoting data.

Discounts

​​A great way to keep your homeowners insurance costs down is to take advantage of discount opportunities. While Tower Hill doesn’t list its available discounts on its website, we’ve seen other third-party sites mention potential home protection or bundling discounts. You’ll need to reach out to a Tower Hill agent for a full picture of what discounts are available.

Homeowners insurance protects your most important financial assets, so you'll want to be sure you're insuring your home and personal possession with a company that will be able to pay out your claim in the event of a disaster. Tower Hill has been around for almost 50 years and has well-established financial strength with A.M. Best, the top credit rating agency for insurance companies in the world.

• A.M. Best rating: A-

• Moody's rating: N/A

• Standard & Poor's rating: N/A

A.M. Best is the most reliable credit-rating tool to gauge the financial health of an insurance company. A good score with A.M. Best means a company is more likely to fulfill their financial obligation to you when it comes time to file a claim. Tower Hill previously scored an A-, but the insurer has since dropped to a B++ (effective January 5, 2022). While that’s still a good score, we plan to keep an eye on it in case the decrease is a trend.

Moody's is very similar to Standard & Poor's, except rather than measuring a company's ability to remain financially stable and creditworthy, Moody's measures what the expected losses would be if a company were to go under. It's particularly helpful in analyzing the value of stocks and bonds with certain companies. A rating of AAA is the highest possible score you can receive from Moody's. Tower Hill doesn’t currently have a rating from Moody's.

Standard & Poor's measures a company’s creditworthiness and is used primarily by financial investors and other market stakeholders. S&P is also valuable in measuring the long-term financial stability of insurance companies. An AAA rating is the highest issuer credit rating assigned by S&P. Tower Hill doesn’t currently have a rating from S&P.

While it’s helpful to know what experts think about homeowners insurance companies, it's also good to know what actual customers and consumer sentiment sites are saying, too.

Tower Hill doesn't currently have ratings with J.D. Power, Consumer Affairs, Consumer Advocate, or Trustpilot.

• Consumer Affairs: N/A

• Consumers Advocate: N/A

• Trustpilot: N/A

• NAIC complaint index: 0.16

Consumer Affairs is a platform that lets consumers directly rate customers, while Consumers Advocate rates companies based on stability, reputation, and policy coverage. Neither have rated Tower Hill yet.

Trustpilot is another website that allows customers to rate insurance companies directly. There isn’t a rating for Tower Hill yet, either.

The National Association of Insurance Commissioners tracks the number of complaints submitted to state insurance departments with their national complaint index. A score of 1 is the baseline average, and a score of 0 means there weren't enough complaints to count. Tower Hill's score of 0.16 means they barely received any complaints than the average company.

Tower Hill offers a typical HO-3 homeowners insurance policy to its customers. While the details aren’t clearly outlined on its website, we dug around and learned these coverages are included in your base policy.

• Dwelling coverage. If your home is damaged during a covered incident, this helps to cover the cost of repair and replacement. 

• Other structures coverage. This protects other parts of your home that aren’t connected, like a backyard shed or detached garage.

• Personal property coverage. The items in your home are protected from covered incidents, too.

• Additional living expenses. If you have to stay in a hotel while your home is repaired after a covered incident, this helps pay for expenses like lodging, food, and travel.

• Personal liability coverage. This protects you or your family from legal and medical fees if a guest is injured or their belongings are damaged while at your home.

• Medical expenses. If a guest is injured at your home and requires medical attention, this covers their medical bills.

Tower Hill also offers endorsements you can add on to your policy for additional protection, including:.

• Extended replacement cost coverage. This increases the amount of coverage you have for your home’s rebuild by up to 25%.

• Personal property replacement cost. With this endorsement, the items in your home will be replaced based on the value at which they were purchased — meaning depreciation isn’t taken into account.

• Valuables coverage. If you have higher-value items, like fine art or jewelry, this would protect them from covered incidents.

• Personal injury. This endorsement protects you from expensive liability claims if someone is injured on your property and you’re sued for damages.

• Home business coverage. If you work from home or run your business out of your home, any items related to that work would be protected from a covered incident.

• Identity theft coverage. If someone steals your identity, this coverage helps with the costs to restore it.

• Water backup coverage. If your pipes or sewers burst or overflow, this would cover the costs associated with the damages.

• Private flood endorsement. This add-on protects your home in the event of a flood. Instead of having a separate flood insurance payment, it rolls your payments into one premium.

Tower Hill also gives you the option of upgrading your base policy through a package of add-ons called its Emerald coverages, which give you increased coverage limits on expensive valuables and broadened liability protection.

Ideal for homeowners with high-value homes, you can choose between two Emerald coverage options: Prime Plus and Spire.

The Prime Plus Emerald coverage package includes:

• Everything included in the standard policy

• $5,000 in coverage for money, coins, medals, securities, stamps, watercraft, trailers, jewelry, furs, firearms, silverware, grave markers, and mausoleums

• Replacement cost for crystal, china, porcelains, figurines, statues, sculptures, mirrors, wine bottles, glassware and similar items

• $10,000 in home business coverage

• $1,000 in food spoilage coverage

• 10% more additional living expenses coverage

• Up to $500,000 in  personal liability coverage

• Up to $10,000 in medical coverage

• $25,000 in identity theft coverage

The Spire Emerald coverage package includes:

• 20% extended replacement cost coverage

• $100,000 in water backup coverage

• A deductible waiver for up to $25,000 

• $5,000 in coverage for money, coins, medals, securities, stamps, watercraft, trailers, jewelry, furs, firearms, and silverware

• $10,000 in coverage for grave markers and mausoleums

• Replacement cost coverage for crystal, china, porcelains, figurines, statues, sculptures, mirrors, wine bottles, glassware, and similar items

• $2,500 in food spoilage coverage

• Up to $1 million in personal liability coverage

• $5,000 included (and up to $10,000 available) for medical coverage

• Personal injury coverage included

• $25,000 in identity theft coverage

• 10% more additional living expenses coverage

Tower Hill homeowners insurance is available in Florida, though it offers specialty lines and high-value home insurance products in a handful of other states. From a user experience standpoint, Tower Hill has numerous educational resources to help you manage your policy along with online and  mobile claim-filing, but its barebones website doesn’t offer much detail about its specific insurance products.

State availability

Tower Hill's standard homeowners insurance product is only available in Florida as of January 2022.

Digital tools

Tower Hill features online quotes, policy management, and bill pay.

Ease of claims

While Tower Hill doesn’t have too many advanced digital tools, its claims process fares a little better. You can file a claim online, through its mobile app, or by calling its 24/7 claims hotline.

Additional claims service

• 24/7 claims service

• Repairs network

• Special disaster claim processing

Payment methods

You can make payments a few ways with Tower Hill, including:

• Automatic online payments through your checking account

• Online payments through your debit or credit card

• One-time phone payments

• Payments by mail

• Recurring credit card payments

Policygenius offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.