How much does boat insurance cost in New Zealand?

QuoteHub only states a premium figure when the insurer itself publishes it, with a link. For boats, Tower does not, so the honest answer is a quote for your boat. What the published wording can tell you is which choices change the premium and by how much it matters to get them right.

Factor	What it means for the policy
Value	The sum insured is the ceiling of a total-loss payout, which is the lesser of market value and sum insured (Tower wording, p. 31). A higher value means more insured.
Type of boat	Tower lists runabouts, personal water craft, launches and cruisers, yachts, trailer sailers and off-the-beach dinghies, and quotes multi-hulls by phone (Tower boat page).
Mooring or trailer	The wording sets different conditions for trailer craft and moored craft, including submersion rules and an extra theft excess for trailer craft and jet skis (Tower wording, pp. 7 to 9).
How it is used	Cover is for social, domestic or recreational use, and Tower does not currently offer cover for business use (Tower boat page). Modifications must be reported (Tower wording, p. 26), and the wording lists an additional excess for racing (Tower wording, p. 30).
Who drives it	An additional excess can apply if the person in control is under 25 (Tower wording, p. 30).
Excess and options	A higher excess may reduce a premium and optional benefits add to it (Tower).

Market value is what a boat of the same make, model, age, engine hours and condition could have been bought for on the retail market just before the loss, as assessed by a marine valuer Tower approves (Tower wording, p. 37).

The boat definition takes in the hull, motor, rigging and sails, safety gear, fixtures and chattels and the tender, while the trailer and recreational gear are optional benefits with their own limits (Tower wording, pp. 13, 14 and 35). That definition looks at the retail market, not at what you paid. The boat insurance guide explains the market value, agreed value and sum insured distinction in full.

For a trailer boat on a mooring or at anchor, submersion cover depends on a physical check at least every 24 hours. The standard excess applies only if the boat has an automatic bilge pump, a self-draining cockpit and adequate storm covers. Otherwise the excess is the greater of $500 or 10% of the sum insured (Tower wording, pp. 7 to 8).

A moored yacht or launch faces mooring-maintenance conditions instead, covered in the yacht insurance guide. The wording requires you to tell Tower immediately if you change where or how you store the boat (Tower wording, p. 26).

The wording also lists additional excesses for racing, for loss while a person under 25 is in control, and where an underwriting excess has been applied (Tower wording, p. 30). Tower notes that a higher excess may reduce a premium, as long as you can afford it if you need to claim (Tower).

Tower says optional benefits increase the premium. It also no longer offers a multi-policy discount on new policies, so a new boat policy should not be expected to carry a bundle discount (Tower).

The moored launch brings in the submersion conditions, including the greater of $500 or 10% of the sum insured if it lacks a bilge pump, self-draining cockpit and storm covers (Tower wording, p. 9).

A jet ski sits in a third category, with a $5,000 additional excess for water ingress to the motor or electrics when the hull is not broken (Tower wording, p. 8). Because the conditions differ by craft, a general price quoted elsewhere may not describe yours.

Multi-hull boats are quoted by phone rather than online (Tower boat page). Tower says a higher excess may reduce a premium and optional benefits increase it (Tower), so a quote is the way to see how each choice moves the price for your boat.