Frequently Asked Questions 

If you've recently received an email, letter, or SMS about a multi-policy discount error, here are the answers to some questions you may have.

What is a multi-policy discount?

A multi-policy discount is a discount available to customers who have more than one policy with us, and allows those customers to save up to 20% on the premiums for eligible policies. For example, if you have House insurance and Car insurance with Tower, you may be eligible for a multi-policy discount. See our terms and conditions for more information.

How do I know if I have received a multi-policy discount?

If you have received a multi-policy discount on your policy, you'll be able to see it on your Certificate of Insurance. You should also see a green tick next to your policies when you view them in My Tower. Simply log in to My Tower and click ‘manage my policy’ to check yours. If you’re logged into My Tower when you get a quote, your discount will be automatically added to the quote.

Why are you refunding some customers?

We've become aware of an issue with our systems that means that some customers haven't received the correct multi-policy discount. We will get in touch with anyone who has not received their full multi-policy discount to give them a refund. 

What happened to cause the error?

Some policies held by the same customer were not properly linked between our systems. This means that we didn’t recognise multiple policies for those customers so they didn’t get the correct discounts.

What have we done to fix the issues?

We’re addressing the issues that caused this error by putting new processes in place to ensure that customers receive their correct discounts.

How do I know if I’m due a refund?

We’ll get in touch with you. From there, we’ll either pay the refund directly to you or ask for your bank details.

What if Tower doesn't have my bank details?

If we don't have your bank details, we'll ask you to fill out our secure online form which you can access from refund.tower.co.nz. You'll have to fill in some personal details, along with a unique code from the email, letter or SMS we'll send you. You'll also need to provide a New Zealand bank account number.

When will I get my money?

If we already have your bank account details, we’ll aim to make your payment within 10 working days of notifying you that you are due a payment.

If we don't have your bank account details, we'll aim to transfer your payment within 10 working days from the date we receive that information.

If you haven't received the money within two weeks, please let us know at refund@tower.co.nz.

How can I be confident these emails are from Tower?

It’s good to check who sent the emails. Any emails about the multi-policy discount error will come from info@communications.tower.co.nz or refund@tower.co.nz.

If you have any concerns about emails you receive from us, please forward them to refund@tower.co.nz and we’ll look into it.

Why do you need my bank details?

If we don't already have your bank details, we'll need you to share them with us so we can pay your refund straight into your account. 

How will you keep my bank details safe?

You can safely give us your bank details via our online form. The details go directly to our team and will never be shared with anyone outside Tower.

Remember, no one can withdraw money from your account using just your account number and we'll never ask you for passwords or login details for your accounts.

What is the URL to enter my bank details safely?

The online form address is https://refund.tower.co.nz. You can open a new browser and type in the URL directly.

Do you need my credit card details?

No. We only need your bank account details. If you receive an email that looks like it’s from us asking for credit or debit card details, please contact us immediately.

Can I apply the money to my insurance policy or get it paid onto my credit card?

Sorry, no. We can’t credit the amount elsewhere or put it towards your premiums. The payment needs to go into your bank account.

Can I donate my money to charity?

You're welcome to donate your payment to Youthline if you wish - just email us at refund@tower.co.nz to let us know.

Will I get a refund on other policies?

We are currently reviewing all policies to make sure they have received the correct discount. If you are due a refund on any of your other policies, we’ll get in touch.

How is the payment calculated?

The payment is made up of two parts.

The first part is the premium refund, which is calculated by working out how much money you would have saved if your multi-policy discount had been applied correctly.

The second part is an additional amount to acknowledge that we've had your money in error over this time.

How is the additional amount calculated?

We used the Ministry of Justice Civil Debt Interest Calculator, a widely accepted benchmark in New Zealand, as a model for working out an appropriate amount. You can read how this works on the Ministry of Justice website.