This Tower Hill Insurance review will take a by-the-numbers approach at what to expect when buying Florida homeowners insurance from Tower Hill versus Kin Insurance. We focus on public information provided by both consumer reviews and insurance industry data so that you can get a good sense of pricing, customer service, and claims handling to help you make informed decisions in your hunt for the best home insurance.
A little background: Tower Hill Insurance started in 1972 and serves more than 1.7 million customers. This company is also known as the Omega Insurance Company and maintains a 5.96 percent market share of the Florida homeowners insurance market. The company sells insurance through some 850 independent insurance agencies in the state.
According toTower Hill Insurance's 103 reviews on Clearsurance, the customer experience is pretty polarized. More than 43 percent offer a five-star rating, 20 percent say their experience was fine, but nearly 36 percent offer fair and poor ratings. The negative reviews cite paying for policies for years and having their claim denied.
One homeowner paid premiums for years and even tried to fix a newer wind-damaged roof before realizing the problem was bigger than expected. They were shocked when the claim was denied due to "normal wear and tear" when the roof was only seven years old and had just experienced a major storm.
While no insurance company can expect 100 percent positive reviews all the time, review history gives a sense of what the company does well and where it falters. Insurance companies invariably have to deny claims at some point in time and disgruntled customers will complain. That's natural – but course correcting is important.
We work hard to provide the best possible experience and to address issues as soon as they come up. Our customer reviews tend to be overwhelmingly positive, with policyholders citing our professionalism and no-pressure sales approach when providing quotes. While we're a younger company than Tower Hill, we has nearly five times the reviews, the majority of which are positive.
You can compare our average review scores to Tower Hill's in the chart below.
Bottom line: Pay attention to how a company responds to negative reviews – the silence can be telling.
Most insurance companies have a complaint score from the National Association of Insurance Commissioners (NAIC). This index shows how a company’s complaints compare to other insurance companies. The ratio is weighted based on a company's size and market share.
The national median complaint score is 1 – a company that receives a 1 has the expected number of complaints based on its size and market share. Ratios below 1 are favorable, suggesting the company has fewer than expected complaints. The higher the number, the less favorable for the insurance carrier – it means it has more complaints than expected for its company size.
Tower Hill Insurance has a Complaint Index of 4.66; this means it has more than 4.5 times the expected complaints than a company its size should expect. This is in keeping with the trend of Florida insurance companies having much higher complaint scores than national insurers.
By contrast, Kin's complaint score is 0.
Price is a major consideration when it comes to consumer satisfaction and insurance, and in Florida, that's especially true. Florida homeowners are often frustrated with their lack of insurance options and ever-increasing premiums. Many feel priced out of essential protection for their homes.
Of course, insurance companies need to price policies to remain solvent, but affordability matters. That's why we constantly innovate to bring our prices down, and it shows.
With an average yearly premium of $2,303 for a new Florida home worth $300,000, Tower Hill is nearly 33 percent more expensive than Kin's average of $1,651 for the same amount of coverage.
Average Annual Premium Comparison
|Value of Home||Kin Insurance||Tower Hill|
|$300k New Build||$1,651||$2,303|
These numbers are meant to be illustrative. Insurance premiums vary based on where you live, your home's replacement cost, your claims history, and more.
It’s a common question: what’s the point of having insurance if it doesn’t cover you when you file a claim? While every insurance policy has exclusions, some carriers seek loopholes that make the claims process more difficult. This is often the top issue that prompts customers to leave negative reviews.
Some Tower Hill reviews cite poor claims experiences where customers felt the company was doing inspections just as hurricane season was beginning and looking for reasons to drop coverage.
We know how disappointing it can be to have a claim denied, and we don’t want a big storm coming and our customers feeling as if they are on their own. This is why we makes it a point to get in touch with policyholders immediately after a storm. Our goal is to be helpful before you even need us.
We also use virtual inspections to streamline the claims process, but our customers get personalized, human service throughout their claim. We even pair homeowners with professional contractors through our Managed Repair Network to get repairs done quickly and professionally. All contractors are thoroughly vetted, licensed, insured, and local.
Want a better homeowners insurance experience? Give us a call.
Don't settle for second best. Get a quote from Kin today!