We report on plasmonic sensors based on arrays of metallic bow tie nanoantennas with high sensitivity and an enhanced figure of merit. In the present sensing device, each gold nanoantenna is positioned on the upper surface of a SiO2 nanopillar that is placed on a quartz substrate. The presence of the nanopillar significantly reduces the coupling of the enhanced electromagnetic field generated at the plasmon resonance to the substrate. The simulated results show that the sensitivity of the device to refractive index sensing is 612 nm/RIU, calculated by the resonance wavelength shift per refractive index unit due to the change in the ambient medium index, while the full width at half maximum is calculated at around 10 nm with a figure of merit of 61. The proposed sensor thus has a great potential for sensing and detection applications.