Complicated is out

Complicated is out

Your current policy compared with your new WriteMark™ Plain Language Standard approved policy, plus answers to some questions you may have.

Frequently asked questions

Our customers deserve to have up-to-date insurance cover that’s easy to understand. We’re no longer offering present day value policies so we’re moving you to our latest replacement value policy, Our latest policies have been awarded the WriteMark™ Plain Language Standard so you can easily understand what you’re covered for if you need to make a claim. Simplifying complicated insurance terms is just the start of how we intend to challenge and change insurance in New Zealand.

No, this policy will no longer be available as we’re phasing out old policies and moving customers to our latest cover. As our records show that your property is rented out we’re recommending you move to our Landlord's Plus Cover. If your property is no longer tenanted, we have other options that are likely to suit you better. 

Compare our latest house policies.

The Landlord's Plus Cover gives you full replacement for fire, plus benefits for houses that are tenanted, such as:

  • Cover for up to $20,000 if your tenants deliberately damage your property and the house becomes uninhabitable.
  • Cover for up to $20,000 if the whiteware or window coverings you own at your property are damaged.
  • Up to 8 months’ cover for loss of rent if there is damage to your house that makes it uninhabitable.
  • Up to 8 weeks’ cover for loss of rent for other reasons, such as if your tenant has been lawfully evicted for not paying rent or has left without notice.
  • Your new cover includes up to $30,000 for methamphetamine decontamination.

Other changes from your current policy:

  • The amount you can claim for gradual damage has reduced from $5,000 to $2,000.
  • Some damage caused by domestic pets is no longer covered.

With your new policy you have specific responsibilities as a landlord to protect your property. These include things you may already be doing, such as making frequent property inspections and having a tenancy agreement. It’s important you read and understand these responsibilities as meeting these is a condition of cover. 

Download your new Landlord's plus policy.

Your current policy covers your house for present day value. When you move to a replacement value sum insured policy your premium will change to reflect the increased level of cover for your house. You’ll see your premium in your renewal email which you’ll receive shortly. Find out more about how your premium is calculated.

The excess is the amount you need to pay toward any loss when you make a claim and it’s approved. Tower then ‘tops up’ your contribution, up to your policy limit.

When you move to your new policy, your excess may change and it’s important to check it and make sure it’s right for you. If excess refund is part of your current policy, you'll notice that it's not offered on your new policy. This means that you'll now pay an excess if you make a claim.  Our latest house policies give you a choice of excesses, ranging from $400 to $2,500.

The amount of excess you choose for your policy will affect the premium you pay - the higher your excess, the cheaper your premium. As well as considering the premium, it’s also important to think about whether you will be able to afford to pay the excess if you happen to have a claim.

As you move to our latest cover at renewal you’ll also have a new unique policy number for each of your policies. Remember to use this policy number as your reference when you contact us or make a payment for this policy. You’ll find your policy number on the top right hand corner of your new insurance documents.

We’re phasing out older house, contents and car policies and moving customers to our latest policies ensuring they have the most up-to-date cover. If you have other Tower policies, we’ll let you know of any changes to each of your policies in another ‘heads up’ email, or in your renewal email. We’re sending an individual email for each policy so you may receive more than one.

Nothing for now. But in the next week you’ll receive your Tower renewal email with your Certificate of Insurance showing your premium, excess and other important details.

Make sure you read it carefully and check your excess, as it may have changed.