House and contents insurance in NZ: one policy or two?
General information, not advice on your situation. Buying through Tower's online quote is direct, without advice. QuoteHub is a Tower partner and Smiths Insurance & KiwiSaver may receive a commission from Tower.
Most New Zealand homeowners need two covers, not one: house insurance for the building and what is permanently fixed to it, and contents insurance for the belongings you could pick up and take with you (Tower bundle page, ICNZ guide). Each has its own sum insured, the most the policy will pay, and you can buy them from one insurer or two. Tower sells them as separate policies, three levels each, that you can mix, and it no longer offers a multi-policy discount on new policies (Tower discount page). So the decisions that matter are getting both sums right and knowing where items such as carpets and curtains fall.
What house and contents insurance each cover
The line depends on the insurer's wording and other insurers can draw it differently, so Tower's Plus wordings are the worked example.
| Item | House | Contents |
|---|---|---|
| Fitted carpet (glued, smooth edge or tacked) | Yes | No |
| Loose rugs and carpet | No | Yes |
| Curtains and blinds | No | Yes, as furnishings |
| Built-in oven, dishwasher, plumbed or wired-in fittings | Yes | No |
| Freestanding fridge, TV, laptop | No | Yes |
| Fences (other than stock fences), gates, permanent deck, sealed access driveway, garage, shed | Yes | No |
| Outdoor furniture, tools, mower, pool or spa designed to be moved | No | Yes |
| Fixed pool, spa or solar panels | Only if specified on the certificate | No |
| Unsealed driveways and paths | No | No |
| Lawn, shrubs and trees | Only after fire or vehicle impact, up to a limit | No |
QuoteHub's house insurance hub explains how cover and quotes work, and its guides to Tower house insurance and Tower contents insurance go level by level.
Where the two policies overlap
Two overlaps catch people out.
- Boundary items: Tower's house wording excludes curtains, blinds and loose floor coverings, which its contents wording picks up as furnishings and loose rugs (its contents page also lists a curtains and blinds replacement benefit), so they belong in your contents total. ICNZ says fitted carpets generally sit in home policies, but some policies put carpets under contents, and with different insurers you could end up with "no cover or duplicated cover" (ICNZ guide).
- Other insurance: both wordings exclude a loss covered to any extent by another insurer's policy, and Tower will not contribute to that claim (house wording, contents wording). With two insurers, read both schedules for any item that could sit in either.
Which policy pays: five common claims
Tower's Plus wordings again, with the same caveat that other insurers draw the line differently.
| What happens | House policy | Contents policy |
|---|---|---|
| Fire starts in the kitchen | Built-in oven, plumbed or wired-in fittings, fitted carpet | Freestanding fridge, rugs, curtains, furniture, clothes |
| Storm lifts part of the roof and rain soaks the lounge | The roof and fitted carpet | Rugs, curtains, furniture, TV |
| Earthquake damages the house | Claim to NHC first, then the house policy pays the difference up to the sum insured | Contents policy only, because NHC does not cover belongings |
| Burglary through a window | Fixed glass that was broken | Stolen items up to the single-item limits, and lost or stolen keys and locks |
| Laptop dropped at a cafe | Nothing | Accidental loss or damage anywhere in New Zealand, with limits that differ by level (Tower contents page) |
In the first two rows both policies pay out, so one event produces two claims. Both Tower wordings include temporary accommodation, and where the same benefit sits under two Tower policies it is paid under one only (house wording, contents wording).
Start dates, empty homes and extra excesses
These are the clauses people tend to find at claim time. Tower's wordings are the example, and any insurer's wording should be checked for its own versions.
- Stand-down after you start or change a policy: Tower's house wording excludes storm, flood, wildfire, tsunami, volcanic activity or landslide within 72 hours of the start date, and any cyclone named before the start date. The exclusion does not apply if the policy started immediately after another policy that covered those risks (house wording). So switching with a gap, or with the new start date later than the old end date, can leave a window with weather cover missing.
- Empty for more than 90 consecutive days: cover narrows from day 91, with an additional $1,000 excess, unless the house is shown as a holiday home (house wording, contents wording).
- Natural hazard damage to outside structures: the house wording adds a $5,000 excess for natural hazard damage to any driveway, path, fence, swimming pool or spa pool (house wording).
One insurer or two
Tower says it no longer offers a multi-policy discount on new policies, and existing ones generally keep it until their next renewal (Tower discount page). ICNZ's tips say to ask insurers about multi-policy discounts, so ask each insurer for a price both ways rather than assume a bundle is cheaper (ICNZ tips).
Tower points instead to claim-time and admin perks. Under its "one event, one excess" clause, if it accepts a house claim and a claim from the same event on contents, a car or a boat it also insures, you pay only the higher excess (Tower house wording). You can mix levels, such as a Plus house policy with a Premium contents policy (Tower bundle page).
Splitting is workable: ICNZ says insurers do not generally require a contents policy to be held with the insurer covering the home (ICNZ multi-unit guide). Tower's one-excess clause only reaches policies Tower itself insures, so two insurers usually each apply an excess.
Natural disasters: where NHC stops
The Natural Hazards Commission (NHC, formerly EQC) provides the first layer of cover for your home and some residential land when your home policy includes fire cover. Its building cap is generally $300,000 plus GST per event, anything above comes from your private policy, and your insurer collects the Natural Hazards Insurance (NHI) levy, capped at $480 plus GST a year, in the home premium (NHC).
| Damage | NHC | Private policy (Tower example) |
|---|---|---|
| House: earthquake, landslide, volcanic or hydrothermal activity, tsunami, or fire from these | First layer, generally up to $300,000 plus GST per event (NHC) | House policy pays the difference between NHCover and the sum insured, less any excess (Tower house wording) |
| Belongings, from any natural hazard | NHC's cover is for homes and some residential land, and contents are not part of it (NHC) | Contents policy pays up to the sum insured, less excesses (Tower contents page) |
| Staying elsewhere during repairs | Not covered (NHC) | Temporary accommodation benefit in both policies, with limits by level (Tower house page, contents wording) |
NHC says the most you can be paid is set out in your private policy, so your house sum insured, not NHC's cap, decides what you can rebuild with (NHC). NHC's storm and flood cover is for land only, so storm and flood damage to the house and contents falls to private policies. See QuoteHub's natural disaster insurance guide.
Comparing quotes like for like
A lower price can mean lower cover, so line up the two sums first.
For the house, the sum insured is the cost to rebuild, including demolition, debris removal, professional fees and council fees, not the market value, purchase price or land value (Tower sum insured page). Set too low, ICNZ says, it can mean rebuilding to a lesser size or quality or paying part yourself (ICNZ guide). QuoteHub's house sum insured guide has the steps.
For contents, work out what it would cost to replace your things today at usual full prices, not sale prices (Tower contents page). QuoteHub's contents insurance guide shows a room-by-room method.
Then match across quotes:
- Basis of cover: ICNZ lists fixed sum insured, total replacement and indemnity (present day value), and says some older homes may only get indemnity cover unless modernised (ICNZ guide).
- Level and wording, including which items count as house and which as contents.
- Excess on each policy; ICNZ says most insurers discount premiums for a higher voluntary excess (ICNZ tips).
- Single-item limits, and whether valuables are listed individually (Tower contents page).
- Optional benefits and payment frequency; ICNZ says to choose only benefits you need and that instalments usually cost more (ICNZ tips).
Getting a quote from Tower online
Have your address, build year, construction type, floor area and house sum insured ready, plus a contents total and any valuables above the standard single-item limits. QuoteHub's link opens Tower's online quote, Tower's own tool, where you can quote house and contents together and see Tower's terms and price. Other insurers sell this cover too, so run the same checks on any quote.
Questions people ask
Is house and contents insurance compulsory in NZ?
Tower says home insurance is not a legal requirement in New Zealand, though your bank or mortgage lender may require it (Tower bundle page). That requirement concerns the house, so contents cover is your own decision. See QuoteHub's guide to insurance on settlement day.
How much does house and contents insurance cost?
It depends on the property and cover, and QuoteHub does not publish insurer premiums. Tower says a house premium combines a base premium, a risk-based premium for natural hazards at the address, the NHI levy, the Fire and Emergency levy and GST, while a contents premium is a base premium plus the Fire and Emergency levy and GST (house premium page, contents premium page). QuoteHub's house insurance cost guide and contents insurance cost guide cover what moves a premium.
Do I need contents insurance if I rent or own a unit?
Renters have no house to insure, so contents cover is the main policy; ICNZ says to check it covers personal liability for damage to the property you live in (ICNZ guide). In a unit title building, ICNZ says the body corporate must insure all the units and shared property, with the cost built into body corporate fees, so check what it includes first (ICNZ multi-unit guide). See QuoteHub's renters insurance guide.
What do house and contents policies not cover?
Tower says wear and tear, ageing and damage caused by pets are not covered by either policy (Tower house page, Tower contents page). Contents cover applies in New Zealand only, and flatmates and boarders need their own policy (Tower contents page). A house you rent out needs landlord cover instead (Tower house page); see QuoteHub's guide to landlord versus house insurance.
Are carpets house or contents insurance?
It depends on how they are fixed. Under Tower's wordings, fitted carpet that is glued, smooth-edged or tacked sits in the house policy, while loose rugs and carpet sit in contents (house wording, contents wording). ICNZ says some policies put carpets under contents, so check where yours does (ICNZ guide).
Is contents insurance worth it?
One test is whether you could replace your belongings from savings after a fire or burglary. Tower's contents cover replaces items rather than depreciating them (Tower contents page), while ICNZ notes that indemnity cover can depreciate items by age (ICNZ guide).
Which insurer should I choose for house and contents cover?
There is no single answer, and QuoteHub does not rank insurers here. Compare wording, limits and excess first, then ask whether the insurer follows ICNZ's Fair Insurance Code, the service standard ICNZ members follow on general insurance such as house and contents (ICNZ code page).
Adviser's view
QuoteHub's read: whether house and contents are sold as one policy or two matters less than getting each sum insured right and knowing which items, such as carpets and curtains, sit on the line between them.
Get a Tower quote online
Tower’s own quote opens in a new tab. House, contents, landlord, car and boat cover can be quoted together in one go.
Tower Easy Save: save $400*
- $200 off house or landlord
- $100 off comprehensive car
- $100 off contents
*$400 is made up of individual policy discounts, each available separately. New, eligible policies only with promo code EASYSAVE. Excl. contract works. Ends 30 Jan 2027. Ts&Cs apply. Tower’s Easy Save terms, checked 6 October 2026.
QuoteHub is a Tower partner. If you buy through this link, Smiths Insurance & KiwiSaver may receive a commission from Tower. Buying online is not financial advice.
Cite this page QuoteHub NZ (2026). Home and Contents Insurance NZ: One Policy or Two?. www.quotehub.co.nz/house-insurance/home-and-contents-insurance-nz. Updated 2026-10-07.
References
- ICNZ, house and contents insurance
- ICNZ, tips to reduce your house insurance premiums
- ICNZ, purchasing home insurance in a multi-unit building
- ICNZ, about the Fair Insurance Code
- Natural Hazards Commission, about natural hazards cover
- Tower, house and contents bundle
- Tower, multi-policy discount
- Tower, house insurance
- Tower, contents insurance
- Tower, calculating your sum insured
- Tower, understanding your house or landlord's premium
- Tower, understanding your contents premium
- Tower, house insurance wording, Plus (09-24)
- Tower, contents insurance wording, Plus (09-24)
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