Tower Insurance in New Zealand: who owns it, what it covers and how claims work

Written by · Reviewed by Smiths Insurance & KiwiSaver, licensed Financial Advice Provider (FSP712931) · Updated 2026-10-07 · Reviewed quarterly, when the underlying data is restated.

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.

Tower Insurance is a New Zealand general insurer with roots back to 1869, and it has been a listed, shareholder-owned company since 1999 (Tower). It sells house, contents, landlord, car and boat cover, and its wordings say Tower Limited underwrites that cover, meaning it is the insurer that carries the risk and pays the claim (house and car wordings). Its financial strength rating is A- (Excellent) with a stable outlook, affirmed by AM Best in April 2026 (Tower's rating notice). In short, Tower is the insurer itself, not a broker or a price-comparison site, so the wording you buy is the contract that counts. This guide reads Tower's own documents to show who owns it, where its policies draw their limits and how claims and complaints work.

Who Tower is and where it came from

Tower's origins go back to 1869, when the Government Life Insurance Office was created with government capital. It became a policyholder-owned mutual in 1990, demutualised in 1999 and listed on the New Zealand and Australian stock exchanges that September (Tower history).

Tower says it has more than 300,000 customers across New Zealand and the Pacific (Tower). It lists one New Zealand office, in Auckland, and separate offices and websites for Fiji, Samoa, American Samoa, Tonga and the Cook Islands (Tower offices). This page covers the New Zealand business only, and it is QuoteHub's guide to Tower, not Tower's own website.

If you searched "Tower Insurance" and weren't sure which result you wanted, this is how the names line up:

What you are after Where it goes Source
New Zealand house, contents, landlord, car or boat cover Tower's New Zealand site, with quotes and claims run through My Tower Tower
Cover in Fiji, Samoa, American Samoa, Tonga or the Cook Islands A separate Tower office and website for each country Tower offices
Life, income or health insurance Not in Tower's product list, so look at life insurance on QuoteHub or a licensed adviser Tower

How Tower is rated and regulated

The April 2026 rating notice calls Tower's balance sheet strength very strong, its operating performance adequate and its business profile neutral (Tower's rating notice). On the agency's scale the Excellent band holds A and A-, with the Superior band of A++ and A+ above it (Tower's rating page). A rating speaks to the ability to pay claims in future, not to how quickly or generously any one claim is handled.

Tower Limited is a licensed insurer under the Insurance (Prudential Supervision) Act 2010, so it must hold capital to levels the Reserve Bank sets. At 30 June 2026 it reported an adjusted solvency ratio of 150% for the parent company and 158% for the group, which is capital held relative to capital required (Tower's solvency disclosures). On conduct, Tower says it abides by the Insurance Council's Fair Insurance Code (Tower), which covers general insurance and sets a service standard from first contact through claims and complaints (ICNZ).

These signals describe a supervised insurer bound by conduct rules, not a ranking against other insurers. Tower's site also promotes a consumer award and selected customer reviews (Tower), and neither shows how a claim like yours would be assessed. The wording you buy is the better test.

What Tower sells and the limits to check

Tower sells house and contents cover at three levels, Standard, Plus and Premium, and car cover at three levels too. Its wordings are public PDFs, and Tower says they carry the WriteMark plain-language standard (Tower house wording). The table picks one limit per cover that readers often miss.

Cover and levels One limit to check in Tower's wording Related guides
House: Standard, Plus, Premium If the house is unoccupied for more than 90 consecutive days, cover is limited from day 91 and an extra $1,000 excess applies, unless it is a holiday home shown on the certificate (Tower wording). Tower house insurance and house insurance in NZ
Contents: Standard, Plus, Premium The most paid for any one item is $1,000 on Standard, $5,000 on Plus and $10,000 on Premium, unless a higher or specific limit is listed for that type of item, such as jewellery, or you arrange extra cover for the item (Tower wording). Tower contents insurance, contents insurance in NZ and renters insurance
Landlord's Plus: one level Meth contamination repair is capped at $30,000, applies only while the house is tenanted, needs a formal Police complaint first and carries an extra $2,000 excess (Tower wording). Tower landlord insurance on what Landlord's Plus covers, landlord insurance in NZ and landlord versus house insurance
Car: comprehensive, third party fire and theft, third party Storm, flood, landslide and similar damage in the first 72 hours of a policy is excluded, unless the policy follows one that covered it or starts when you buy the car (Tower wording). Tower car insurance, Tower RoadWise roadside assistance on what the add-on includes and car insurance in NZ
Boat: comprehensive Loss from fire, theft or accident is paid at the lesser of market value and sum insured, and the boat trailer is optional extra cover (Tower wording). Tower boat insurance on racing, lay-up and trailer cover, and boat insurance in NZ

Fit matters as much as limits:

Tower's full product list also covers renters, contract works, motorbike, caravan, motorhome, lifestyle block, business, travel and pet insurance, and life insurance is not listed there (Tower). Its travel and pet cover is provided with Allianz Partners (Tower). QuoteHub's guides cover only the five covers in the table.

What shapes the price of Tower cover

This page gives no prices, because Tower sets each premium from the details you enter in a quote. Tower says a house or landlord premium is made up of a base premium, a risk-based premium for earthquake, flood, sea surge and landslide risk at your address (Tower's risk-based pricing page), the Natural Hazards Commission levy, the Fire and Emergency New Zealand levy and 15% GST (Tower). It may not be able to cover some properties, and anyone can see a property's risk ratings by getting a house or landlord quote, which helps if you are weighing up a first home (Tower).

The Natural Hazards Commission (NHC, formerly EQC) pays first for natural hazard damage to a house, up to a building cap of generally $300,000 plus GST per home (NHC). Tower's wording then pays the difference up to your sum insured, the most it will pay to rebuild, and you must claim from NHC first (Tower house wording). A sum insured is a rebuild figure, not the property's market value, because land is not insured (Tower). Working out a house sum insured shows the method, and natural disaster insurance in NZ explains how the two layers fit together.

An excess is the part of a claim you pay yourself. Tower's standard house excess starts at $400, and a higher excess can lower the premium, so it is worth checking the amount you could afford to pay (Tower).

How Tower claims, My Tower and complaints work

My Tower is Tower's online account, where you can update a policy, check or change your excess, keep track of your cover and lodge a claim (Tower house insurance). Claims start there, and you can upload photos and documents. Tower says claiming online in My Tower saves an average of five minutes (Tower claims). It gives you a claims manager, approves some claims right away and arranges an assessor for damage to a home or car (Tower claims). Tower also says over 87% of online car claims sent to one of its trusted repair partners were approved instantly, as a monthly average from 1 April 2025 to 31 March 2026 (Tower car insurance). That covers one type of claim through one channel, so it does not measure how many claims are paid in full.

If you disagree with a decision, Tower acknowledges a complaint within five working days and escalates it through a senior review and an impartial review. You can then ask for a letter of deadlock and take the complaint to the Insurance and Financial Services Ombudsman (IFSO) Scheme within three months of receiving it, or go there once more than two months have passed since you first complained and you no longer want to work with Tower. Tower says it is bound by the IFSO Scheme's ruling, and for NHCover claims, which Tower manages on behalf of NHC, you may be able to seek support from Fair Way Resolution, the dispute service NHC appoints (Tower complaints page).

The steps, contacts and what to have ready are in how to make a Tower insurance claim. QuoteHub can't lodge claims or change policies, so those go to Tower directly.

Getting a quote from Tower online

Have the property address, year built, construction and floor area to hand, plus a sum insured for the house, a total value for your belongings and, for a car, the registration number with each driver's licence and claims history. QuoteHub's link opens Tower's online quote, where Tower, not QuoteHub, sets the price and the terms. The steps are in how to get a Tower insurance quote online, and how Tower's EASYSAVE promo code works explains who qualifies. Other insurers sell this cover too, so read the wording of any policy you consider before you buy.

Questions people ask

Who owns Tower Insurance, and does IAG own it?

Tower Limited is owned by its shareholders and has been listed since 1999 (Tower). On Tower's list of its 20 largest shareholders at 31 March 2026, the biggest entry, a nominee company, held 7.69% and the Accident Compensation Corporation held 6.59%, and IAG is not on the list (Tower shareholders).

Who underwrites Tower Insurance?

Tower's house, contents, landlord, car and boat wordings each say the policy is underwritten by Tower Limited (house, contents, landlord, car and boat wordings). Tower says its travel and pet cover is provided with Allianz Partners, so check the wording of those policies for the insurer named (Tower).

Is Tower Insurance a good or reputable company?

QuoteHub doesn't compare or rank general insurers, and as a Tower partner it can't give Tower an independent verdict. The facts to weigh are the A- (Excellent) financial strength rating (Tower), the licence and reported solvency (Tower), membership of the Fair Insurance Code (Tower) and the limits in each wording. Other insurers sell similar cover, so compare wordings rather than brands.

What is My Tower and what if I can't log in?

My Tower is the account you use to manage a policy and make a claim, and you register for it on Tower's site (Tower claims). If you can't log in to lodge a house, contents or car claim, Tower says you can complete its online claim form instead (Tower claims).

Is Tower Insurance in Fiji or Tonga the same as Tower in New Zealand?

They sit under the same Tower group, which operates in New Zealand, Fiji, Tonga, Samoa, American Samoa and the Cook Islands (Tower). Each country has its own office and website, so a policy bought in the Pacific has its own wording and terms (Tower offices).

How do I contact Tower Insurance?

For new quotes and general enquiries, call 0800 379 372 from 8am to 6pm Monday to Friday or 9am to 5pm Saturday, or write to PO Box 90347, Auckland 1142 (Tower contact page). For claims, contact your claims manager, whose details are in My Tower (Tower contact page). How to make a Tower insurance claim has the steps.

Which insurance company has the most complaints?

QuoteHub doesn't rank insurers by complaints, and a raw count reflects how many customers an insurer has as well as how it treats them. A complaint about Tower goes through Tower's own process first and then to the IFSO Scheme (Tower complaints page). The Insurance Council says complaints about a breach of the Fair Insurance Code can go to the IFSO Scheme or Financial Services Complaints Limited (ICNZ).

Does Tower still offer a multi-policy discount?

No. Tower says it no longer offers a multi-policy discount on new policies, and existing discounts run until the next renewal, though a small number may end sooner (Tower multi-policy page). If you claim on more than one eligible Tower policy for the same event, you may only pay the highest excess (Tower multi-policy page). How to get a Tower insurance quote online covers the quote steps.

Adviser's view

QuoteHub's read: Tower underwrites its own house, contents, landlord, car and boat cover and publishes the wordings, so the limits, excesses and exclusions in a wording matter more than the brand name.
, Financial Adviser (FSP1010699). General information, not personalised financial advice.

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.

Get a Tower quote online

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). Tower Insurance NZ: Cover, Rating and Claims Explained. www.quotehub.co.nz/tower-insurance. Updated 2026-10-07.

References

Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, Claims Support.