How it works

existing customers

Existing customers

When you buy a new eligible policy and the eligibility criteria are met, the multi-policy discount for the new policy will be applied from the commencement date of the new policy. If the eligibility criteria are met, any new or increased discount for your existing eligible policy or policies will commence from the next renewal date for each applicable policy*.

*See Ts&Cs. 

new customers

New customers

If the eligibility criteria are met, the multi-policy discount will be applied when two or more eligible policies are bought at the same time. 

FAQs

How does the multi-policy discount work?

If you have two eligible policies with us you could save up to 10% off your Tower premium*, and if you have three or more eligible policies with us, you could save up to 20% off your Tower premium*.  

*Discount applies to premiums excluding taxes and levies. See Ts&Cs. 

What are the eligible policies?

Policies that are eligible to earn the multi-policy discount:  

  • House: Standard, Plus, Premium 
  • Landlord’s House: Plus;   
  • Contents: Standard, Plus, Premium;   
  • Private Car: Comprehensive, Third Party Fire and Theft, Third Party;   
  • Commercial Vehicle: Comprehensive, Third Party;   
  • Motorbike: Comprehensive, Third Party, Fire and Theft;  
  • Motorhome:  Comprehensive, Third Party, Fire and Theft;  
  • Caravan or Trailer: Comprehensive;  
  • Boat Insurance: Comprehensive;   
  • Provider: House, Contents, Supermaxi House and Contents;  
  • Provider: Rental;  
  • Provider: Boat;  
  • Provider: Farm – House, Contents, Private Motor and Boat;  
  • Tower Motor Policy –Tailored Protection;  
  • Tower Insurance Rural Policy-Tailored Protection; House, Contents, Private Motor and Boat;   
  • Tower: Farm-House, Contents, Private Motor and Boat;  

(See Ts&Cs) 

Who is eligible?

Customers who hold two or more eligible policies and are a named policyholder on the eligible policies, whether: 

  • in your own personal capacity, or 
  • as a sole trader, or 
  • as a partner in a business partnership, or 
  • as a trustee of a trust, 

or the policy is in the name of a company of which you are a director. 

Policies held by your spouse, partner, children, other relatives, or flatmates, do not qualify you for a multi-policy discount unless you are also an owner of the relevant policy. 

(See Eligibility Criteria and Ts&Cs). 

What is the multi-policy discount?

Discount applies to Tower premium only and discount does not apply to  taxes and levies such as the Natural Hazards Insurance levy and Fire and Emergency NZ levy. (See Ts&Cs).

How does it apply to new customers?

If the eligibility criteria are met, the multi-policy discount will be applied when two or more eligible policies are bought at the same time, from the commencement date of the new policies. (See Ts&Cs).

How does it apply to existing customers?

When you buy a new eligible policy and the eligibility criteria are met, the multi-policy discount for the new policy will be applied to the Tower premium for the new policy from the commencement date of that policy. If the eligibility criteria are met, any new or increased discount for your existing eligible policy or policies will commence from the next renewal date for each applicable policy. (See Ts&Cs).

What if I purchased some of my eligible policies through a broker?

Tower policies purchased via an insurance broker cannot be counted together with other Tower or Tower underwritten policies to calculate your multi-policy discount.

What if I am entitled to another discount as well?

If you qualify for any dollar value Tower discount, then that discount will be applied to your already discounted premium.  Discounts are not off taxes and levies.