Paul Sanchez
Tower Hill Insurance and its subsidiaries are available in several states, but Tower Hill Insurance Exchange only offers homeowners insurance in Florida. The company has been offering Florida homeowners insurance since 1972, and its policies are designed to meet the specific risks that Florida homeowners face, such as coastal storms and sinkholes. Tower Hill Insurance offers policies that are flexible and customizable, and the company advertises that its homeowners insurance policies are often priced below the national average.
| Characteristics | Values |
|---|---|
| Name | Tower Hill Insurance |
| Year founded | 1972 |
| Location | Gainesville, Florida |
| Insurance type | Homeowners insurance, mobile home insurance, flood insurance, equipment breakdown insurance, CyberShield, watercraft insurance, commercial insurance, condo insurance, renters insurance |
| Accepted payment methods | Check, e-check, VISA, MasterCard, Discover, American Express |
| Average cost for homeowners insurance | $4,905 per year for $300,000 in dwelling coverage |
| Customer service phone number | (800) 342-3407 |
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What You'll Learn
Tower Hill's insurance policy cost
Tower Hill Insurance Group (THIG) offers homeowners insurance in Florida and a few other states. The company is based in Gainesville, Florida, and provides insurance products that cater to the needs of homeowners in certain areas of the United States. THIG operates in 17 states, although it is unclear which states these are besides Florida.
Tower Hill offers a range of insurance policies, including homeowners insurance, mobile homeowners insurance, dwelling fire insurance, condominium insurance, renters insurance, and flood coverage. They also provide commercial insurance for business owners in Texas, Alabama, South Carolina, and Florida, as well as condo insurance and renters insurance.
Tower Hill also offers premium home insurance discounts, including wind loss mitigation discounts, senior discounts, and companion policy discounts for policyholders with multiple Tower Hill policies or those who have an auto or home policy with Safeco.
For specific policy rate information and to evaluate your individual needs, it is recommended to contact Tower Hill directly or speak with an insurance agent.
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Homeowners insurance in Florida
Tower Hill Insurance and its subsidiaries are available in several states, but Tower Hill Insurance Exchange only offers homeowners insurance in Florida. Tower Hill has been offering Florida homeowners insurance since 1972. Their policies are designed to meet the specific risks that Florida homeowners face, such as coastal storms and sinkholes. They also offer flood insurance, which is essential for most Florida homeowners.
The average cost for a Tower Hill homeowners insurance policy is $4,905 per year for $300,000 in dwelling coverage. This is slightly higher than the national average of $2,466 per year for the same amount of coverage. However, Tower Hill advertises that many of its homeowners insurance policies come in 50% below the national average. The final premium will depend on factors such as your ZIP code, roof type, claims history, and bundling options.
Tower Hill offers a range of coverage options, including mobile home insurance, flood insurance, equipment breakdown coverage, CyberShield protection, and watercraft insurance. Their policies are designed to flex to fit different types of properties, including downtown condos, coastal bungalows, and rental duplexes. They also offer condo insurance and renters insurance for those who do not own their homes but want to insure their belongings.
Tower Hill has an ""A" rating from Demotech and an A+ rating from the Better Business Bureau, indicating financial stability and responsive service. They accept payment by check, e-check, and major credit cards, and offer a range of payment options, including automatic payment withdrawal plans. Tower Hill also offers premium home insurance discounts on its website, including wind loss mitigation discounts, senior discounts, and companion policy discounts.
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Sinkhole coverage
Tower Hill Insurance offers homeowners insurance in Florida, including sinkhole coverage. The company has nearly five decades of experience navigating Florida's unique challenges, such as sinkholes, hurricanes, and strict building codes. Their policies are designed to address the specific risks faced by Florida homeowners.
The sinkhole coverage offered by Tower Hill is included in their homeowners insurance policy. This means that if you have a Tower Hill homeowners insurance policy, you are also protected in the event of a sinkhole. Sinkholes are a significant concern in Florida due to the state's geological characteristics, and Tower Hill recognises this by offering sinkhole coverage as standard.
The company provides a simple process for obtaining a quote and customising your coverage options. You can start by using their Quick Quote system on their website, which provides an estimate based on basic property details. If the quote suits your budget, you can then review and tailor your policy limits, deductibles, and endorsements. This flexibility allows you to adjust your coverage to meet your specific needs and budget.
It is important to note that underwriting requirements can change due to Florida's dynamic insurance landscape. Tower Hill is currently accepting new policies and requests to change coverages on existing policies. Therefore, if you are interested in their sinkhole coverage or have any questions, you can contact their Customer Service Center or your insurance agent for more information.
In conclusion, Tower Hill Insurance provides sinkhole coverage as part of their homeowners insurance policies in Florida. Their experience in the state and understanding of its unique challenges make them a reputable option for those seeking protection against sinkholes and other Florida-specific risks.
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Mobile home insurance
Tower Hill Insurance has been offering homeowners insurance in Florida since 1972. The company was founded in the same year as Mobile Home Insurance Associates, a small insurance agency focused on providing insurance to owners of mobile homes in Southern Florida. Tower Hill has since expanded its offerings and reach, now providing insurance in several states.
Tower Hill offers mobile home insurance, manufactured home insurance, RV park model insurance, and modular home insurance. The company has a unique history and a deep understanding of the mobile and manufactured home industry, with more than 50 years of experience and over two million policyholders served.
Tower Hill provides a broad range of coverage options for mobile and manufactured homes. These include coverage for all occupancy types, with no acreage limits on insured properties. They also offer coverage for coastal properties, though wind and hail exclusions may apply. Additionally, Tower Hill provides coverage for stationary travel trailers, tiny homes on wheels, and hobby farming.
Customers can further modify their policies by selecting from various optional coverages and deductibles. These include replacement cost settlements for homes, regardless of their age, and extended replacement costs for homes under 30 years old. Tower Hill also offers an inflation guard that automatically increases coverage for the home and other insured structures to keep up with increasing costs.
Tower Hill's mobile home insurance policies are tailored to the specific needs of each customer. The company considers factors such as the year, make, model, and location of the mobile home to ensure the policy provides the correct coverage. For example, customers may qualify for a premium credit if their home meets state safety standards or has fire extinguishers. Tower Hill also offers a mobile app that allows customers to access their accounts and policies conveniently.
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Discounts and savings
Tower Hill Insurance offers several premium home insurance discounts to Florida homeowners. These include:
Wind Loss Mitigation Discounts
You could save in multiple ways if your home has windstorm mitigation features. For instance, you could save by having a roof-to-wall connection and opening protection.
Senior Discount
Senior-aged policyholders may save on their Tower Hill home insurance policy.
Companion Policy Discount
Policyholders holding two or more policies with Tower Hill, or who have an auto or home policy with Safeco, could qualify for additional savings.
Other Discounts and Savings
Tower Hill also offers sinkhole coverage as part of its homeowners insurance policy. In addition, the company provides the option to add on coverage types to personalize your policy. For example, flood coverage, watercraft coverage, and high-value home and personal items coverage may be available.
Tower Hill also offers a mobile app that allows policyholders with a Tower Hill Customer Portal account to access their account using the same credentials, with no setup required.
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Frequently asked questions
Yes, Tower Hill Insurance Exchange offers homeowners insurance in Florida. Tower Hill has been offering Florida homeowners insurance since 1972.
Tower Hill's homeowners insurance covers your house, your belongings, and your liability if someone gets hurt on your property. It also offers sinkhole coverage and wind loss mitigation discounts.
The average cost for a Tower Hill homeowners insurance policy is $4,905 per year for $300,000 in dwelling coverage. This is slightly higher than the national average of $2,466 per year for the same amount of coverage. However, Tower Hill advertises that many of its homeowners insurance policies come in 50% below the national average.
