Contents insurance demystified

Choosing a contents insurance cover that’s right for you can be tricky. There are plenty of different types and levels of cover available in New Zealand, and it can become overwhelming. Here at Tower, we’ve tried to make sure that our contents insurance cover is simple and easy to understand so you know exactly what you are covered for under your chosen policy: Standard, Plus or Premium.

Matching your risks to your level of insurance is a major consideration for us so let’s take a closer look at what each level offers you.

All of our policies come with a set of base covers and benefits.

Standard

Standard contents cover is our basic insurance package. But that doesn’t mean it’s the bare basics. Under Standard, you get coverage for a wide variety of different events. For example, if you lost your mobile phone, you’d have $500 worth of cover. If you were burgled and had jewellery and cash stolen, we would cover you up to limits that apply. If an earthquake or other natural disaster damaged your possessions, you’d be able to replace them. You can check a full list of coverage and exceptions in our policy wording.

While you will have lower limits and restricted cover in some areas, you may find that this is the most appropriate cover for you and your belongings.

Plus

With Plus contents cover, you have all the benefits that come with Standard but with higher limits. With this policy, if you lost your mobile phone, you’d have up to $1,000 for its repair or replacement. If you were burgled and cash was stolen, under Standard you’d have $250 worth of cover, while under Plus that amount rises up to $500.

Plus cover also includes some benefits not covered by Standard such as credit or debit card fraud, fatal injury to a person and loss of your home office equipment. You'll pay a reduced excess of $100 for your prescription glasses and contact lenses claims. A standard excess is payable for hearing aids and dentures claims.

Premium

Premium contents is our highest level of cover. You get everything that you would under Standard and Plus options along with a few extra benefits and higher limits. For example, you can get up to $10,000 of cover for mobile phones.

This is a broad contents offering protecting you against a wide range of events. It includes veterinary fees for your domestic pet, visitors’ personal belongings when they are staying with you as well as gifts temporarily stored at your home – perfect for the Christmas season.

As you can see, there are a number of differences – and similarities – between the various kinds of cover. Standard keeps you covered for the essentials, while Premium policy provides broad cover for high value items and a wide range of events.