Tower House and Contents Insurance Review

Tower provides hassle-free house and contents insurance for homeowners, landlords and renters.

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A trusted New Zealand insurer since 1869, Tower Insurance is a member of the Insurance Council of New Zealand (ICNZ) and has a financial strength rating of A- (excellent).

When it comes to house and contents insurance, Tower has a range of policies to suit your budget or situation. Once you have a policy in place, your My Tower account makes it easy to view and manage your policy details, access documents, make payments and claims online.

Read on to learn more about the different levels of cover, how you can save on your policy and how to go about making a claim.

Tower Insurance cover options

Tower Insurance provides different levels of cover for both house and contents insurance, as well as specific policies for landlords.

House insurance

Tower offers four types of house insurance policy options to choose from: Premium, Plus and Standard, along with a separate policy tailored for landlords called Landlord Plus.

Key benefits of Tower’s Premium, Plus and Standard house insurance:

  • Replacement of house to your sum insured
  • Full replacement for fire
  • Liability protection
  • Natural disaster damage

Premium is the highest level of house insurance cover designed for those with high value homes or valuables. Plus offers comprehensive cover and has more benefits and higher limits than Standard, which is their basic policy.

If you take out a Premium policy with Tower, you’ll get extra benefits such as: increasing the sum insured by up to 15% to rebuild your home after a natural disaster, a $2,000 stress benefit and replacement of all your carpets if they can’t find a suitable match.

At the other end of the spectrum, Tower’s Standard policy is targeted towards the budget conscious who want house insurance but aren’t fussed about the bells and whistles.

Contents insurance

Tower offers three types of contents insurance: Premium, Plus and Standard.

Key benefits of Tower’s Premium, Plus and Standard content insurance:

  • Replacement or repair of your content up to the limits in the policy
  • Cover when moving house for up to 14 days
  • Natural disaster damage
  • Liability protection
  • Accidental damage anywhere in New Zealand
  • Mobile phone damage, loss or theft
  • Student family member contents cover

If you want the highest level of cover for your valuables and additional benefits, then Premium is worth considering. It will also cover a bike replacement up to $10,000, contents in storage up to $20,000, and provide for temporary accommodation up to $30,000.

Landlord Plus

Landlord Plus is a comprehensive house insurance policy, designed for anyone renting out their home or rental property to tenants.

Key benefits of Tower’s Landlord Plus insurance:

  • Full replacement for fire
  • Liability protection
  • Loss of rent
  • Methamphetamine contamination
  • Deliberate damage cover up to $20,000
  • Whiteware and window coverings up to $20,000

What does Tower house and contents insurance not cover?

All insurance companies have various exclusions on their policies. This means that they won’t pay out for certain types of losses. It’s a good idea to read the product disclosure statement (PDS) for the policy you’re interested in before you apply.

Some of the general exclusions to be aware of for Tower’s house and contents policies include:

  • Asbestos
  • Business activities
  • Bodily injury to you
  • Criminal and reckless acts
  • General wear and tear
  • Deliberate damage by anyone
  • Soil changes
  • Manufacture, storage or use of illegal drugs
  • Mechanical or electrical breakdown
  • Vehicles, watercraft and aircraft you own
  • Insect or pet damage
  • Visitors contents at your house
  • Contents in a house you don’t live in
  • Any valuables taken outside of New Zealand

How can I save on Tower house and contents insurance?

One of the benefits of taking out a Tower house insurance policy is the opportunity to save. Here’s how you can do it:

  • Multi Policy Discounts. If you buy two or more policies you can save 20% on premiums.
  • Online discounts. Enjoy $50 off when you buy house, contents or landlord insurance online.
  • No claims bonus. If you don’t make a claim for 12 months your premium will be discounted.
  • One event, one excess. If you’re claiming on multiple policies for one event, Tower will only charge you the highest single excess.
  • Airpoints Dollars. Earn 1 Airpoint Dollar for every $100 you spend on your house and contents premium.

Tips for saving money on Tower house insurance

  • Set the right sum insured. Setting this limit too high means that you will be paying for cover that you don’t need. Use the Tower calculator to calculate the value of your contents.
  • Choose a higher excess. This will reduce the amount of premium you’ll pay but you will pay more if you make a claim.
  • Pay annually. You might be able to save by paying your premium yearly instead of fortnightly or monthly.

How do I make a Tower house or contents insurance claim?

To make a claim you need to fill out one of their online claim forms or call them on 0800 379 372. Having these documents to hand will help Tower process your claim faster:

  • Receipts or other proof of purchase
  • Warranties
  • Bank and credit card statements
  • Serial numbers
  • Photos of any damage
  • Police report file numbers

Tower’s 3 step process for house insurance claims

  1. Assessment
    An assessor will arrange a time that suits you to come round and look over the damage and take photos. If your property is unsafe, they will arrange for a builder to make it secure.
  2. Property repairs
    A builder is booked in to discuss the repairs with you and how long they will take. Tower has a list of preferred builders, who report directly to them saving you time, or you can pick your own.
  3. Repair completion
    When the repairs have been completed, Tower will check in to see if you’re happy with them. Any excess will be paid directly to the builder.

Frequently asked questions

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