Tower Hill Insurance Review 2022

Tower Hill Insurance is an insurance carrier with experience in insuring high-risk, high-value and coastal housing. While its insurance products meet a wide variety of needs, Florida residents may want to consider what the new Tower Hill Insurance Exchange will mean to them.

Specialized policy packages for high value housing AM Best downgraded Tower Hill Prime’s financial strength rating (FSR) to B + (good) in April 2022.
A long list of coverage options to customize home insurance coverage for every need Customer service not rated by JD Power and the Complaints Index of the National Association of Insurance Commissioners (NAIC) for 2021 is not available
The average rates for home insurance are relatively compatible with the national average No online citation or mobile app and limited access to a policy management website

Tower Hill consists of four companies: Tower Hill Prime, Tower Hill Preferred, Tower Hill Signature and the new Florida-specific Tower Hill Insurance Exchange. Its home insurance policy has three levels – Typical, Premier Plus and Spire – and can be customized with unique supplement coverage. Although the company’s coverage, discounts and average premiums will vary by country, Bankrate’s Tower Hill Insurance review will cover the basics of its available policies to help you decide if you should get an offer.

Tower Hill Insurance is available in 19 states: Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Indiana, Kansas, Louisiana, Michigan, Missouri, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Wisco.

Tower Hill Home Insurance Bankruptcy Result: Not available

Although the availability of specific coverage may vary by country, Tower Hill insurance gives homeowners the opportunity to build their own home insurance plan. A typical mid-level policy and Prime Plus provide basic level home insurance coverage, but homeowners can add approvals such as an extended replacement price, backup water coverage and personal injury coverage if needed. Tower Hill also offers unique additional coverage options that can be difficult to find with other carriers. This includes coverage for landscaping, spoiling food, responsibility for the trampoline, changing the lock and more.

The company’s top-of-the-line Spire package is designed for high-value homes and comes with many of these optional policies built into the shelf. The AOP waiver is particularly remarkable, as it is only available on Spire policies and eliminates your deductible in the event of a large loss from covered events other than hurricanes. However, keep in mind that policy coverage options may vary by country, so you will need to work with a Tower Hill insurance agent to see what coverage is available to you.

Residents of Florida should note that due to the ongoing crisis in housing insurance in Florida, Tower Hill has changed its business practices and risk threshold in the state. Personal line insurance, such as homeowners’ insurance, was previously listed under Tower Hill Prime, but it was recently announced that 50% of these policies will not be renewed until 2022 as Tower Hill Prime prepares to leave. the Florida market in 2023. The remaining policies will instead be renewed under the Tower Hill Insurance Exchange, a reciprocal insurer in which policyholders share the risk of insuring each other and any insurance profits. The exchange notes that policies will be renewed with changes in coverage, but does not specify what these changes in coverage are.

Home Hill Home Insurance Expenses

The average cost of an insurance policy for Tower Hill homeowners is $ 1,331 per year for $ 250,000 in housing coverage. This is slightly less than the national average, which is $ 1,383 per year for the same amount of housing. However, because home insurance rating factors play an important role in determining your final premium, your actual rates may vary.

$ 150,000 $ 933 $ 980
$ 250,000 $ 1331 $ 1383
$ 350,000 $ 1,836 $ 1887
$ 450,000 $ 2,319 $ 2351
$ 750,000 $ 3464 $ 3414

Home Hill Home Insurance Discounts

Tower Hill does not disclose information about home insurance discounts on its website. If you are interested in finding out what discounts may be available in your area, it may be helpful to contact an agent to learn more.

Tower Hill Home Services

Tower Hill also offers three different options for flood insurance. Homeowners can purchase flood insurance through the National Flood Insurance Program (NFIP), add it to their homeowners’ insurance policy as approval when starting or renewing the policy, or purchase a separate private flood insurance policy for Tower Hill.

Tower Hill’s private flood policy is offered through Lloyd’s and may have more coverage than NFIP, including a 15-day waiting period instead of the 30 days required by NFIP. The flood certificate can only be added when the policy is started or renewed for HO-3 homeowners’ insurance policies, but includes the same coverage as the stand-alone flood policy.

Other advantages of Tower Hill that are worth considering

In addition to home insurance, Tower Hills also offers business insurance and other types of personal line insurance. This includes:

  • Commercial insurance: Business owners in Texas, Alabama, South Carolina and Florida may be interested in what business owner (BOP) and monoline (CP) insurance options are available to them.
  • Apartment insurance: This type of insurance specifically protects the interior of the condominium and provides coverage for personal property, liability and loss of use.
  • Tenant insurance: Tenants may not have to insure the home they live in, but tenant insurance can insure their belongings. Like other property insurance, it also provides coverage for liability and loss of use.

Social responsibility of Tower Hill

The Tower Hill website does not share whether the company has ongoing community or philanthropic initiatives.

Not sure if Tower Hill is right for you? Consider these alternatives

When shopping for home insurance, it is helpful to get multiple offers to find the best home insurance for your needs. Below are a few carriers that can be compared to Tower Hill:

  • Family insurance: Keane’s revolutionary approach to homeowners insurance and continued growth in high-risk countries may make Florida residents look for him.
  • Chubb insurance: Chubb offers extensive home insurance tailored to high value homes.
  • State farm: State Farm consistently receives high customer satisfaction scores, which can be ideal for customers who want personalized service.


Bankrate uses Quadrant Information Services to analyze tariffs for 2022 for all postal codes and carriers in all 50 states and Washington, DC. The quoted rates are based on 40-year-old men and women homeowners with a clean history of claims, good credit and the following coverage limits:


  • $ 100,000 liability for personal injury
  • $ 300,000 liability for personal injury in an accident
  • $ 50,000 liability for property damage in an accident
  • $ 100,000 uninsured motorist injury per person
  • $ 300,000 bodily injury to a motorist without accident insurance
  • $ 500 collision deduction
  • $ 500 total deduction

To determine the minimum coverage limits, Bankrate uses a minimum coverage that meets the requirements of each country. Our exemplary drivers own a 2020 Toyota Camry, travel to work five days a week and drive 12,000 miles a year.

age: Prices were calculated by estimating our baseline age 18-60 (base: 40 years). Depending on the age, drivers can be tenants or homeowners. Age is not a factor in evaluating Hawaii and Massachusetts.

Incidents: Prices were calculated by estimating our baseline profile with the following incidents applied: clean record (base), single speeding slip and single fault incident.


  • Coverage A, Housing: $ 150,000, $ 250,000, $ 350,000, $ 450,000, $ 750,000
  • Coverage B, other structures: $ 15,000, $ 25,000, $ 35,000, $ 45,000, $ 75,000
  • Coverage C, Personal Property: $ 75,000, $ 125,000, $ 175,000, $ 225,000
  • Coverage D, loss of use: $ 30,000, $ 50,000, $ 70,000, $ 90,000
  • Coverage E, Liability: $ 300,000
  • Coverage F, Medical Payments: $ 1,000

Homeowners also have a $ 1,000 deduction and a separate wind and hail deduction (if necessary).

These are sample rates and should only be used for comparative purposes. Your quotes will vary.

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