CANSTAR 2024 2025 insurer of the year home and contents CANSTAR 2023 2025 insurer of the year home and contents

Insurer of the Year - Home & Contents, two years running

And once again, awarded Canstar's Outstanding Value - Home & Contents Insurance, 2023-2025.

Forward thinking landlord insurance

Your investment property is in good hands with our Landlord's Plus insurance. It's made for Kiwi landlords with no fluff, just the cover you need when your place is rented out.

  • house fire

    Up to 20% more cover

    If your house is totally destroyed by fire (excludes from natural hazards).

  • whiteware

    Essential contents

    Get up to $20k to cover your rental's whiteware and window coverings.

  • meth contamination

    Meth clean up

    Get up to $30k to help repair your rental if it suffers meth contamination damage.

  • rent RENT

    Cover your rent

    We'll cover up to 8 months' rent if your rental becomes uninhabitable while tenanted.

*Benefit applies to non-structural renovations only.

Policy terms, excesses, limits and exclusions apply. Cover subject to current underwriting criteria.

Tower's landlord house insurance policy includes

This is a summary only. For all of these benefits, please make sure you read the policy wording to understand the terms, conditions, limits and exclusions that may apply.

Landlord's Plus Cover

Extended sum insured for fire 
If your house is destroyed by fire, this benefit gives you up to 20% more cover than your sum insured. Excludes fires following natural hazards.
Extended sum insured for fire
If your house is destroyed by fire, this benefit gives you up to 20% more cover than your sum insured. Excludes fires following natural hazards.
Deliberate damage 

Up to $20,000

We’ll pay for deliberate damage caused by your tenants or their guests during the period of insurance to your house.
Deliberate damage
We’ll pay for deliberate damage caused by your tenants or their guests during the period of insurance to your house.
Up to $20,000
Loss of rent 
Up to eight months rent covered if your house is made uninhabitable by loss or damage covered under the policy while tenanted.
Loss of rent
Up to eight months rent covered if your house is made uninhabitable by loss or damage covered under the policy while tenanted.
Damage caused by a natural hazard 
If damage to your home exceeds the NHCover limit, we pay the difference up to your sum insured. 
Damage caused by a natural hazard
If damage to your home exceeds the NHCover limit, we pay the difference up to your sum insured. 
Liability protection 

Up to $20m

Liability protection
Up to $20m
Hidden gradual water damage 

Up to $2,000

We'll repair damage to your home which is caused over time by a leak or overflow from an internal water pipe, hose, or tank.
Hidden gradual water damage
We'll repair damage to your home which is caused over time by a leak or overflow from an internal water pipe, hose, or tank.
Up to $2,000
Landlord’s whiteware and window covering 
We'll cover up to $20,000 for your rental property's whiteware and window coverings. It means you won't need to take out a separate contents policy for any appliances or curtains you provide your tenants.
Landlord’s whiteware and window covering
We'll cover up to $20,000 for your rental property's whiteware and window coverings. It means you won't need to take out a separate contents policy for any appliances or curtains you provide your tenants.
Sustainability upgrade 

Up to $15,000

If your house is destroyed, we'll provide up to $15,000 for you to add or upgrade to sustainable products in your new house. Excludes losses caused by a natural hazard.
Sustainability upgrade
If your house is destroyed, we'll provide up to $15,000 for you to add or upgrade to sustainable products in your new house. Excludes losses caused by a natural hazard.
Up to $15,000
Garden retaining walls 

Up to $25,000

Cover for garden retaining walls automatically included.
Garden retaining walls
Cover for garden retaining walls automatically included.
Up to $25,000
Landscaping 

Up to $2,000

You’re covered for damage to your lawn, flowers, trees, hedges or shrubs, caused by fire damage to your home, or damage from a vehicle.
Landscaping
You’re covered for damage to your lawn, flowers, trees, hedges or shrubs, caused by fire damage to your home, or damage from a vehicle.
Up to $2,000
Pay only one excess 
Pay only one excess when claiming on multiple eligible policies for a single event. The highest excess applies.
Pay only one excess
Pay only one excess when claiming on multiple eligible policies for a single event. The highest excess applies.
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Manage your insurance with My Tower

You can update, claim and keep track of your insurance 24/7 through My Tower. Log in or register today.

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Tower Translates

We know insurance lingo can be a bit confusing. While our policies are WriteMark™ approved, we've put our heads together to explain some common terms.

Check out our translations

Landlord insurance FAQs

What's the difference between house insurance and landlord insurance?

House insurance is for your primary place of residence. If you permanently live at a property you own, house insurance is for you.

If you own a property, but you rent it out to tenants, a landlord insurance policy is designed to help cover the risks associated with having tenants.

Does landlord insurance cover unpaid rent?

There are some scenarios where we'll cover you for unpaid rent.

  • Up to eight months’ rent you’ve lost because your house is uninhabitable due to an event which is covered by this policy. Limits apply.
  • Up to eight weeks’ rent you’ve lost because your tenant has:

a. been lawfully evicted for not paying rent

b. left without giving the required notice

c. stopped paying rent legally under their tenancy agreement because they've been prevented from entering your house, or because public utilities to your house have failed.

This is a summary only. Please make sure you read the policy wording to understand the terms, conditions, limits and exclusions that may apply.

Is landlord insurance tax deductible?

Your landlord insurance premiums may be tax deductible. Your accountant will be able to give you more information.

How can I reduce the cost of my landlord insurance?

There are many reasons why premiums may go up or down. These may include changes to your policy (such as changing your excess), your location (some areas are higher risk due to natural hazards like flood and earthquakes), or changes in claim costs due to inflation-related price increases, and/or the cost of repair and labour.

Here's a handy guide to help you save on your insurance while maintaining the right level of cover for you.

How much should I insure my rental property for?

It's important that the amount you insure your investment property for is enough to cover all costs to rebuild it. This includes things like demolition costs, debris removal, professional fees, and council fees.

Learn more about calculating the house sum insured amount

What is risk-based pricing?

When calculating the premium for a property, one thing we take into account is the specific natural disaster risk at your address. We call this risk-based pricing. For example, Wellington has a higher risk of earthquake damage than Auckland. 

We believe this is the fairest way to determine the cost of insurance. 

Why we’ve changed to risk-based pricing for house insurance

Is my rental property covered for earthquakes and other disasters?

Yes. If your rental property is damaged in an earthquake, flood, or other natural disasters, your Tower Landlord insurance covers you to repair or rebuild your house.

For more detailed information, check your policy wording.

Is damage caused by my tenant's pets covered?

We're pet lovers too and know that from time to time they're not always as well behaved as you'd like. However, our policies don't cover damage to your rental property caused by pets.

Is general wear and tear to the rental property covered?

Damage to your home made through daily life, ageing, and normal wear and tear isn't covered. However, we do cover you for hidden gradual water damage caused over time by a leak or overflow from an internal water pipe, hose, or tank. Limits apply.

Does landlord insurance cover my tenant's belongings?

No, your tenants will need to buy renter's contents insurance to cover their stuff such as clothes and furniture. If you provide any whiteware or window coverings in your rental property, your Tower Landlord's Plus policy will cover up to $20,000 for those items. This means you don't need a separate contents policy for them.

Will I be covered if tenants deliberately damage my property?

We'll pay for deliberate damage caused by your tenants or their guests, up to $20,000 for each event. An additional excess of $500 for each event will apply to your claim. This benefit doesn't cover methamphetamine decontamination, but we do have another benefit that helps cover that damage for you.

Do I need contents insurance as a landlord?

The only items inside the rental that are covered by landlord insurance are whiteware and window coverings (up to $20,000). It means you won't need to take out a separate contents policy for any appliances or curtains you provide your tenants. Your tenants will need a contents insurance policy to cover their personal belongings.

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