With the upheaval in the Florida insurance market, in order to be financially stable enough to take care of their clients in their time of need, the Tower Hill Insurance Group has made coverage changes to their policy for some of their renewals.

 

If your policy was previously with Tower Hill Signature Insurance Company, or was written into Tower Hill Insurance Exchange this year, you don’t have to worry about it. These coverages/limitations/exclusions are already on your policy (and we would have discussed them with you when initially setting up your policy).

 

If your policy was with Tower Hill PRIME or Tower Hill PREFERRED Insurance Company, your 2022 renewal has some important changes effective this year. At the bottom of this page is a checklist/summary of the changes.

 

All of this info is or was in the new/renewal package that you get directly from Tower Hill Insurance Exchange. However, we wanted to make sure these important changes were not overlooked so we’ve outlined a few of the MOST IMPORTANT (but obviously not all) limitations/exclusions are listed below for your review:

 

• Animal/dog liability HAS BEEN REMOVED from their base policy. YOU DO have the option to add back dog liability in most cases. If you have other animals, we would need to discuss other ways to make sure your animal liability exposure is covered.

 

• Solar Panels ARE NOW EXCLUDED COMPLETELY. YOU DO have the option to purchase coverage for damage to your solar panels as well as some limited solar panel liability coverage too.

 

• Trampoline liability is now excluded. No option to purchase this back on the homeowners policy. There may be other ways to fill this potential gap depending on your specific situation.  

 

If any of these potentially significant gaps in coverage are a concern for you, please reach out to us by email, our contact us form, or call/text us 850-329-6996 so we can make sure you’re taken care of.

 

Here are a few more, hopefully less significant, adjustments to some policy coverages we want you to be aware of as well:

 

• $1000 limit for Art, statutory marble, bicycles/related equipment

• $2,000 limit for any individual item or set of electronic equipment caused by theft or vandalism

• $2,500 limit for computers and related equipment

• $5,000 limit for Tools

• $500 limit for any collections

• Maximum payment for any one item of personal property/contents is limited to 5% of your contents coverage (contents is the “Coverage C” amount listed on your paperwork)

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These, and more, changes to the policy are listed in the checklist below. Some can be purchased/changed back, and some cannot.

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Thank you for taking time to read though this. I know it’s a lot and hope it’s been helpful.  If you would like to make any changes or have questions please reach out to us so we can make sure you’re as well taken care of as possible. Call, text 850-329-6996, our use our ‘contact us’ form.

 

As always, this information is presented for your convenience, but in no way does it alter the actual contract(s) of insurance. For coverage details, please refer to the policy(ies) for the actual language. In the event of conflicting statements, the policy conditions supersede this information. Please let us know if you have any questions. We’re happy to help make sure you’re as well taken care of as possible.