Tower Hill Insurance Group Review & Complaints: Home, Renter’s & Commercial Insurance (2023)

A family-owned insurance company in Florida, Tower Hill Insurance Group has expanded since its inception as a mobile homeowner insurer to a group of companies serving South Florida. The group of companies under the Tower Hill banner now offer plenty of options for personal and commercial coverage alike.

What is Tower Hill Insurance?

Tower Hill was formed in 1972 as Mobile Home Insurance Associates in Miami, Florida. Offices were moved to Gainesville in 1980 and a partnership was formed with Omega Insurance in 1987. The current company name, Tower Hill Insurance, was taken on in 1997. Since then, the company has merged with and acquired several other insurance companies to create today’s Tower Hill Insurance Group. Acquired companies include Regency Insurance Company (now Tower Hill Preferred), DeSoto Prime Insurance Company (now Tower Hill Prime), Royal Palm and Hillcrest Insurance Companies.

Originally insuring mobile homes, Tower now covers a wide range of properties, including single-family, rental homes, and condos. They also cover a specific list of commercial properties for both property and liability. Each of the various companies writes policies for different types of property, allowing the group to offer a good range of options. Tower Hill has an office in Kentucky, but currently only writes policies in Florida.

Does the company offer home insurance?

Tower Hill’s homeowner’s insurance package policy applies to single-family or duplex homes that meet the underwriting requirements for standard policies. These policies are designed to provide comprehensive coverage that provides for the replacement cost of the home as well as coverage for personal property, other structures, and liability coverage. Tower Hill also writes policies for other types of owner-occupied homes with a range of coverage, such as:

• Mobile and manufactured homes
• Condos

Does the company offer rental home coverage (dwelling fire)/ landlord insurance?

Tower Hill’s policy for rental homes – occupied by a tenant and not the owner – is a dwelling fire policy that covers the structure and a limited amount of personal property. As the home is not owner-occupied, it does not provide for the tenant’s property.

Does the company offer renter’s insurance?

Renter’s Insurance policies from Tower Hill are available to cover the personal property of tenants, coverage not provided by the landlord. These policies also include liability coverage for renters.

Does the company offer commercial insurance?

Tower Hill has products to cover a specific list of commercial properties for structures, business property, and liability. Products are available for:

• Homeowner’s Associations to cover common areas
• Office and Retail complexes for lessor’s risk
• Hotels and Motels for property and liability coverage
• Manufactured and Mobile Home parks and communities
• Mercantile Advantage – for businesses that are mainly wholesale but do on-site sales as well
• Commercial Residential, for multi-unit dwellings such as apartment buildings
• Self-Storage Facilities

Does the company offer any additional products?

Tower Hill also writes Flood Insurance policies through the National Flood Insurance program for homes in need of flood protection.

The company also offers Watercraft Insurance through a partnership with SkiSafe. The policies offered can apply to watercraft of all sizes, from jet skis to yachts.

Are the insurer’s rates reasonable?

Tower Hill offers a quick quote system on its website, but this is a large estimate range. A $300,000 home located in the same zip code as Tower Hill (32605), built in 2000, returns a premium estimate of between $1,170 and $2,132. This range makes it difficult to compare to other insurance companies.

More accurate quotes can be obtained through insurance agents selling Tower Hill insurance products. Because Tower Hill has multiple companies, they may be more able to find a competitive rate for customers. As a local company, however, they may not be able to compete with some national insurers, particularly those able to offer auto/home discounts.

How are claims handled?

Tower Hill has a 24-hour claims hotline available for customers to file their claims at any time. This claims line will assign a claim number and take information from the insured. An adjuster will then contact the insured. The assigned adjuster will come out to inspect the damage if necessary, obtain estimates for repair, and then determine benefits. There is a separate line for flood policies, but all personal and commercial claims go through the same claims center.

During the claims process, the insured can contact the claims department or the adjuster directly at any time with questions or concerns, or to obtain an update on the claims process. The claims time frame depends greatly on the type and extent of the loss, as with most insurance companies.

* Their Customer Service Center is available  at (800) 342-3407.

Are there any consumer complaints against the company?

What is Tower Hill Insurance rated? Tower Hill Insurance is a Better Business Bureau (BBB) accredited company, and has been since 2013. Currently, the BBB gives them an A+ rating based on their multifactor system. The BBB recorded 22 complaints against Tower Hill in the past 3 years, 13 of which have been closed in the past 12 months. There are no known government actions against Tower Hill.

The Florida Office of Insurance Regulation provides records of complaints against insurance companies in a searchable database on their website. Four of the Tower Hill Group companies are listed in this database, and the most current records are for the fourth quarter of 2016.

Tower Hill Preferred had 13 complaints during this period, a ratio of 1 complaint for every 3,167 policies in force.

Tower Hill Prime had 24 complaints, for a ratio of 1 complaint for every 6,095 policies in force.

Tower Hill Select had 10 complaints, with a ratio of 1 complaint for every 4,752 policies in force.

Tower Hill Signature had 11 complaints, the best ratio at 1 complaint for every 7,751 policies in force.

Overall, these are somewhat high ratios compared to similar insurance companies, although the group-wide complaint rate with the BBB is relatively low.

What is the company’s financial strength rating?

Rating Company	Grade	Financial Outlook
AM Best	B++	Stable
Fitch	N/A	N/A
S&P	N/A	N/A

Tower Hill Insurance Group received a B++ rating from AM Best (a credit rating agency), suggesting that the company has a good ability to pay out insurance claims.

What’s the bottom line?

Tower Hill Insurance Group offers a wide variety of companies, which allows the group to compete more readily. It is a likely choice for consumers who prefer a local company with roots in the community. They are unlikely to compete well with the rates of larger companies, however, and are unable to offer multi-policy discounts across home and auto. As a result, those with multiple policies and low-risk levels will probably find better rates elsewhere. Local businesses may find that Tower Hill offers affordable policies for those with specific needs.