Tower Hill is a giant in Florida that has been offering incredible homeowners and commercial property insurance for nearly 50 years. It is widely known for its affordable rates and comprehensive coverage. If you are looking for standard coverage or special policies, Tower Hill offers customizable options to meet different homeowners needs.
At the moment, Tower Hill provides homeowners insurance for private residential homes in Florida. And is currently one of the largest residential property insurers in the whole of Florida. Although some are plans available in 16 other states, these plans are limited compared to the ones in Florida.
How Does Tower Hill Homeowners Insurance Work?
Tower Hill, located in Gainesville, Florida, has been providing home insurance to residents in Florida since 1972, when it started as Mobile Home Insurance Associates.
Apart from the standard home insurance the insurer offers, it also provides separate flood insurance policies. Normally, standard home insurance doesn’t usually cover flood damage. And while most people rely on the National Flood Insurance Program (NFIP), Tower Hill offers coverage limits that are very high. Compared to NFIP’s $250,000 limit, their private flood policy covers up to $1.25 million for dwellings. Tower Hill’s flood policies have a 15-day waiting period, shorter than NFIP’s 30-day wait.
Tower Hill sells its policies through independent agents rather than its own. The company also provides commercial insurance in Alabama, Florida, South Carolina, and Texas.
Policy Coverage Offered By Tower Hill Homeowners Insurance
Just like other Florida insurers, this homeowner’s insurer offers incredible and consistent coverage.
- Dwelling Coverage: It covers the dwelling part of the home.
- Other structures coverage—in covering detached structures
- Personal Property coverage: This coverage covers theft and damage to your belongings.
- Liability Insurance coverage: It helps in covering injuries and property damage you caused to others and if you get sued because of the accident.
- Additional living expense: Covers your extra living when you are not able to stay in your home due to damages covered by your policy.
- Medical payment to others: Small medical expenses of a third party—and the individual blames you, but regardless of who is to be blamed.
The above listed is what would be found in a standard Tower Hill Homeowners Insurance policy.
Tower Hill Additional Homeowners Insurance Coverage
This insurance company offers various optional coverages, including:
- Debris Removal: Extra coverage for debris removal if your home gets damaged by a covered event.
- Equipment Breakdown Coverage: Covers repair or replacement costs for mechanical, electrical, or pressure systems when they breakdown. It serves as an alternative to home warranty plans. Costs $50 a year.
- Fire Department Service Charge: Pays up to $500 if the fire department is called for a covered problem.
- Identity Theft Coverage: Offers three programs: Identity Recovery, CyberShield, and CyberShield+.
- Landscaping: Covers trees, shrubs, plants, or lawns damaged by fire, lightning, explosion, riot, civil commotion, aircraft, vehicles not owned by residents, vandalism, malicious mischief, or theft.
- Replacement Cost Value Coverage: Pays the full amount for damaged, destroyed, or stolen personal property without accounting for depreciation, unlike standard home insurance, which offers actual cash value.
- Scheduled Personal Property: Additional coverage for valuables such as artwork, collectibles, firearms, furs, and musical equipment.
- Water Backup and Sump Pump Overflow: Coverage for damage caused by water backup or sewer overflow.
What Does Tower Hill Homeowners Insurance Not Cover?
Typically, this insurer does not cover all types of damages in the home. Generally, the policy won’t cover;
- Nuclear Hazard
- Intentional Damage
- Damages connected to lack of maintenance or negligence
- Flood damage. However, you can purchase a separate flood policy from Tower Hill, another company, or the NFIP.
- Seizure of property by government
- War
- Law or ordinance. For example, if the government mandates you to repair, demolish, rebuild, or repair your home.
Before purchasing the policy, it is advisable to meet and speak with your insurance agent to know the specifics of the coverage you want to purchase.
How Much Does Tower Hill Homeowners Insurance Policy Cost?
Just like other insurance companies, Tower Hill Home Insurance makes use of various factors when setting their rates. These factors include the location of your home, the age and materials to build the structure of your home, the cost to rebuild the home, your deductible, your credit history, your home’s claim history, and your claims and fire rating of where you live. There are tons of discounts available to policyholders that can help reduce the cost of the policy.
How Can I Purchase a Home Insurance Policy from Tower Hill?
You can easily get quotes from the insurer on its official website. All you need to do is enter your zip code in the quote tool when you get to the homepage. After that, tap on “Get a Quote.” Then provide all the required information, such as your address, the amount of coverage that you want, the age of your home, and many more.
With the information you provided, Tower Hill will either provide you with a quote or ask for your contact details, and an insurance agent will call you. It is advisable you work with an insurance agent to know the total amount of coverage needed, including the scheduled personal property and dwelling coverage.
