Tower Hill Insurance Review
$2,443 per year
- Cheap home insurance for Florida homeowners
- Many discounts for wind mitigation
- Few customer complaints
- Only offers standard home insurance coverage
- No J.D. Power claim satisfaction rating
- No financial strength rating by A.M. Best
- No smartphone app
Is Tower Hill a good home insurance company?
Tower Hill is a good company if you’re a Florida homeowner looking for cheap home insurance rates.
In 2022, Tower Hill started selling its standard home insurance through Tower Hill Insurance Exchange as a reciprocal insurer. This means that Tower Hill Exchange policyholders insure each other and share in the underwriting profits
Tower Hill also has an excellent complaint rating from the NAIC The NAIC rates companies on confirmed complaints by size. A confirmed complaint is one that leads to a finding of fault. , meaning it receives fewer customer complaints than expected for a company of its size. Unfortunately, Tower Hill doesn’t have a J.D. Power J.D. Power’s satisfaction scores are based on customer surveys rating companies on factors like price, coverage options and problem resolution. score or an AM Best Lenders often require your home insurance company to have a B or better rating from AM Best, or a comparable rating from another agency. rating, which limits insight into its customer satisfaction and financial strength.
How much is Tower Hill home insurance?
Tower Hill charges an average of $2,443 a year for homeowners insurance. This is 37% cheaper than the Florida state average of $3,889 a year, and 13% cheaper than the national average of $2,801.
Tower Hill rates vs. other companies
| Company | Annual rate |
|---|---|
| Federal Insurance | $2,294 |
| Tower Hill | $2,443 |
| United | $2,747 |
| Progressive | $3,786 |
| Fednat | $4,152 |
| Heritage | $4,403 |
| Homeowners Choice | $4,539 |
| Universal | $4,655 |
| Florida Peninsula | $4,695 |
| State Farm | $5,180 |
Tower Hill home insurance by coverage amount
The higher your dwelling coverage Dwelling coverage pays to repair or rebuild the structure of your home if a fire, hail or other event damages or destroys it. limit, the higher your homeowners insurance rate will be. If you raise your dwelling coverage from $400,000 to $450,000, you will pay 11% more for home insurance with Tower Hill, on average.
Tower Hill rates by dwelling coverage limit
| Dwelling coverage | Average rate |
|---|---|
| $350,000 | $2,182 |
| $400,000 | $2,443 |
| $450,000 | $2,700 |
When choosing your dwelling coverage limit, keep in mind that it needs to cover not only the rebuild of your home, but also debris removal and expenses tied to meeting current building codes.
Tower Hill’s home insurance discounts
Tower Hill offers many discounts if you make windstorm mitigation improvements to your home. Tower Hill gives discounts based on:
- Roofing materials
- How the roof is attached
- Roof-to-wall connection
- Shape of the roof
- Secondary water resistance
- Opening protection
Tower Hill also offers home insurance discounts for:
- Living in a gated community
- Being a senior
- Accredited builders
- Smart home water protection
- Companion policies
- Having a Safeco car insurance policy
What does Tower Hill homeowners insurance cover?
A standard Tower Hill home insurance policy covers:
- Dwelling: This coverage helps repair or rebuild the structure of your home.
- Personal property: Includes your belongings, like furniture, clothing and electronics.
- Personal liability: Covers injuries to other people and damage to their property.
Tower Hill also offers a few optional coverages, including:
- Flood insurance
- Equipment breakdown
- Dwelling fire insurance