TOWER Vault

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In order to use the TOWER Vault you need to have a current TOWER Contents policy and your policy number on hand.

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TOWER's answer to keeping your records safe

If you have a TOWER contents insurance policy, TOWER Vault gives you a secure and private off site safety deposit box on the internet where you can store itemised details of your personal life and your valuable possessions in total safety. And only you have the key.

On numerous occasions in the event of fire or burglary details of personal records, receipts and warranties are lost or stolen. How safe are yours? 

One of our customers recorded the serial number and purchase details of all their appliances very methodically onto their home PC and appliance manuals. So you can imagine the shock and disappointment when on Christmas Eve they returned home to find that they had been burgled. The culprits not only took their PC but the appliance manuals as well! 

The result of this was that our customer had a difficult time proving that they in fact owned the appliances they wanted to claim for. 

This got us thinking on how we could take some of the pain out of the proof of purchase at claim time and came up with TOWER Vault. 

Important: You may experience issues with the TOWER Vault when using Firefox as your internet browser. While we are working to fix this we recommend using Internet Explorer.

Security

It is important that you do not put any information in your vault that will identify you such as names, addresses or phone numbers. Also be sure to always keep duplicate hard copies of all your records in the very unlikely event of a system failure.

Frequently asked questions

If you have questions about the TOWER Vault please review the frequently asked questions below or call us on 0800 379 372.

Every person and household has different contents insurance needs. We recommend that you complete our contents calculator. It helps you with deciding on a value for all your stuff, and how much cover might be right for you.
Your contents are covered for loss or damage caused by fire, collision or the overturning of the moving vehicle while you're moving house. If you're using professional movers, we recommend you talk to them about their insurance cover.

Your contents are covered as usual during the loading and unloading of the removal vehicle.
Most insurance policies will have limits on certain items, such as jewellery and camera equipment. It is important to check the limits for all items covered by your policy and if you require extra cover then please call us on 0800 379 372 to arrange this.
An excess is the amount of a claim that you pay. If you choose an excess refund option when you claim for something over the excess amount, then you may not need to pay any amount towards your claim (depending on if you have any additional excesses).

For example:  If you have an excess refund of $500, and the value of your loss is under $500, then you would not lodge a claim and cover the loss yourself. But, if the value of your loss is over $500, then you would lodge a claim and you will not have to pay an excess, unless an additional excess has been applied to your policy. 

Our excess refund option may not be available for all policy types. If you would like to discuss your excess options, please contact us on 0800 379 372.
It depends on what policy you have and how long your house will be unoccupied for. Our latest Premium, Plus and Standard policies don't require you to tell us it's unoccupied, however you will be charged an additional excess on any claims. All our other policies require you tell us if your house is going to be unoccupied for more than 60 consecutive days. It's also important for us to know if the property is a holiday home. If you haven't told us and you have a loss occur, your claim may be declined. Call us on 0800 379 372 if you're unsure.
An excess is the amount of a claim that you pay. If you choose an excess refund option when you claim for something over the excess amount, then you may not need to pay any amount towards your claim (depending on if you have any additional excesses).

For example:  If you have an excess refund of $500, and the value of your loss is under $500, then you would not lodge a claim and cover the loss yourself. But, if the value of your loss is over $500, then you would lodge a claim and you will not have to pay an excess, unless an additional excess has been applied to your policy. 

Our excess refund option may not be available for all policy types. If you would like to discuss your excess options, please contact us on 0800 379 372.
It depends on the type of alterations being made and the policy you have purchased. Minor cosmetic alternations may not need additional cover, but if you are making any structural changes (e.g. removing a wall) you may need to put your contents in storage, and arrange cover while they're there. We recommend you call us on 0800 379 372 to discuss your alteration project.
It depends on what policy you have and how long your house will be unoccupied for. Our latest Premium, Plus and Standard policies don't require you to tell us it's unoccupied, however you will be charged an additional excess on any claims. All our other policies require you tell us if your house is going to be unoccupied for more than 60 consecutive days. It's also important for us to know if the property is a holiday home. If you haven't told us and you have a loss occur, your claim may be declined. Call us on 0800 379 372 if you're unsure.
If you decide to rent out your home that you've previously lived in yourself, you'll need to let us know. We have a landlord's insurance product that focuses more on the risks you face as a landlord and it's important that we have all of your details correct so your insurance cover can continue. To discuss your house insurance needs and learn more about our landlord house insurance policy, call us on 0800 379 372. 

In New Zealand, house insurance used to be based on 'full replacement' cover. Now most insurance companies, including Tower offer cover up to a capped maximum limit. This limit is called your 'sum insured' and needs to be based on the maximum cost of rebuilding your home.

It's your responsibility to specify what this amount should be.

These changes are a direct result of natural disasters around the world, including our own Canterbury earthquakes. Global reinsurers (those companies that offer insurance to insurance companies) will now generally only provide cover to New Zealand insurance companies if they know the costs they face. The sum insured cover gives them this certainty and means that house insurance here can remain as affordable as possible.
No. The market value or purchase price for a house is affected by many other factors like proximity to schools or the value of neighbouring homes and typically includes your land. Your sum insured figure for insurance purposes should only reflect the actual cost of rebuilding your home like-for-like.
Your sum insured value needs to include all costs that you would be charged if you needed to rebuild your home. This includes the demolition and site preparation costs, any architect and council fees, building materials and labour. You'll also need to account for the cost involved in building any special features such as decks and outbuildings, separate garages, period features (typically in villas or bungalows), retaining walls as well as gates, fences, driveways, paths, permanent swimming and spa pools.
Because there are many different factors that can affect the rebuild value of your home, we recommend engaging with an insurance rebuild valuation professional to calculate this value for your home or you can also use the Cordell calculator as a guide.
Cordell is a leading third party, independent provider of building and construction information. It provides this calculator as a tool to calculate the estimated rebuild cost of your home. The calculator is updated on a quarterly basis to ensure all information is current. It uses general building information and costs to give you an estimate based on the information you provide. The calculator takes into account the likely rebuild costs of your home and other structures, as well as an allowance for additional costs such as professional fees and demolition.
Only if the cost of rebuilding your home to the same size and standard is equal to or more than your sum insured figure. It is important to remember that if the rebuilding costs are lower than your sum insured, we will only pay these actual rebuild costs. If the rebuilding costs are more than your sum insured, the most we will pay is your specified sum insured. Should there be a shortfall, you will have to meet this cost yourself. The sum insured (less any applicable excess) is the maximum we would pay in the event of a loss.
Yes, retaining walls that are required to secure the building platform for your house are covered under your house insurance policy. Be sure to include the cost to rebuild these in the sum insured you provide to us. Limits may apply to retaining walls that are not essential for the building of your domestic building(s) - see your policy wording or renewal certificate of insurance for more details.
With Tower your sum insured is always GST inclusive.
Each year on your policy anniversary we will adjust your sum insured value by the Cordell House Price Index which is how inflation is measured in the building industry. We recommend you assess this figure each year to make sure it's right for you, as well as each time you make any renovations or other improvements.
Yes, although updating your sum insured once a year, at your policy renewal is likely to be sufficient. However, if you do complete any renovations, additions or work on your home throughout the year, you don't need to wait until your policy renewal to let us know. We'll use our standard underwriting rules to assess any increases or changes before agreeing to cover them.
The house(s) on your farm policy have changed to sum insured cover. Any other buildings covered under your farm policy will remain under their current cover.
House insurance premiums are generally increasing. However, the change to a default sum insured will not change your premium. Should you wish to change your default sum insured, there will be an associated premium adjustment.  Premiums only go up in relatively small increments.

Tower has introduced a $5,000 excess for driveways, fences, pools and paths that are damaged by natural disasters. This excess will apply instead of your usual voluntary excess. This $5,000 excess only applies to natural disasters - for all other events your normal policy excess will apply. If you do not have damage to a driveway, fence, pool, or path this excess will not apply.

This excess was introduced in an effort to keep premiums on the main dwelling affordable. These types of excesses are now common, as they are part of the industry changes following the Christchurch earthquakes and other global events.

A total loss is an event which causes your home to be damaged to an extent that it is more economically viable to rebuild than it is to repair.
The sum insured will need to cover the total rebuild cost of your house, taking into account demolition costs, professional fees and any compliance costs. These costs may change over time due to building inflation or any renovations or additions you undertake. We will be applying the building consumer price index adjustment to your sum insured at each renewal as well. We recommend you review your sum insured at least once a year on policy renewal and after any renovations.

The sum insured stated on your certificate of insurance is the maximum amount we would pay in the event of a claim. It is up to you to set it at a figure that will meet the cost of rebuilding your house, including demolition and site preparation costs, professional fees and any compliance costs in order to do so. The only exception to this is if the demand surge benefit applies.
At our sole discretion, we can increase your sum insured in the event of a natural disaster, flood or storm that causes sudden and accidental physical loss to your house and also directly causes building costs to increase due to a surge in demand for labour and materials.

If we determine this benefit applies, and your sum insured is not sufficient to meet the actual cost to repair or rebuild your house, we will pay up to a maximum of 10% above the sum insured noted on your certificate of insurance.
There are a number of people who can assist you with deciding on an appropriate sum insured to rebuild your home. These include property valuers, experienced builders or quantity surveyors. We also have some more information on the house insurance pages of our our website. This includes a link to a free online calculator that can help you work out the likely cost to rebuild your home.
Yes. In addition to covering your house, the sum insured you choose also needs to take into account any other features such as outbuildings, gates, fences, sealed driveways and paths, permanent swimming pools and spa pools etc.
Present Day Value house policies will also become sum insured policies from 31 May 2013 onwards for new business and for policies renewing from July 2013 onwards. The default sum insured on renewal will be calculated at a lower square metre rate ($1,600 per square metre) than Replacement policies ($2,000 per square metre), as we tend to make lower payments in the event of a total loss because the cover takes into account depreciation.

For a Present Day Value house policy going forward we will pay the lesser of:

(a) the market value of your house (excluding the market value of the land alone) at the time of loss or damage and 
(b) the sum insured.
Demolition costs are the costs to demolish your house and remove the debris before rebuilding can begin.

Site preparation costs are the costs to prepare the area required for the building of your house, such as safety fencing required at the site, scaffolding, any health and safety requirements (such as site safety boards), etc. Sometimes site preparation costs are included in quoted builders prices or quantity surveyor reports, but this is not always the case. Professional fees are the costs incurred by professionals in rebuilding your house, such as architects, engineers etc.

Compliance costs are those costs required to make sure the rebuild is compliant with the current building code.
If you share a driveway or fence with your neighbours, you'll need to decide what you'll each insure and for how much.

If you live somewhere governed by a body corporate, like an apartment complex, the body corporate may have one insurance policy covering all the units in the complex, and all the common property. This may already be insured on a sum insured basis - you can find out from your body corporate secretary or committee.

You'll need to understand the extent of your liability and allow for it in your sum insured.
Very easy. Enter your customer and contents policy number in the 'sign on' area. Next choose and enter your unique 8 digit password. Now you can either commence entering details or print off a form which you can take with you around the house to list items before returning to the Tower Vault to record the information you have listed.
You will find the Tower Vault Forms clearly laid out by category (whiteware, browngoods etc) as well as location (house, bach etc). Click here for an example.
Provided you do not give your password to anyone else you are the only person who can access your site. Not even Tower employees can have access. IT IS THEREFORE IMPERATIVE THAT YOU REMEMBER YOUR PASSWORD. However, because no one can guarantee that computer hackers will not be able to access the site we recommend you do not put any information which will identify you such as name, address, or phone numbers into the Tower Vault.
No, for your security, we do not allow our staff to have access to your Vault file.
No, we do not allow storage of attachments or other files to avoid the risk of identification or storing illegal material on the site.
The Tower Vault is an exclusive benefit to Tower Contents Insurance Policy holders. If you are not a Tower customer or do not have a contents policy you can gain access to the Tower Vault by purchasing a contents policy from Tower.
Rather than having to list every single item in your collection individually, which will be very time consuming, you can make a single entry such as "CD collection" and use the notes field to list all the individual items in your collection. An example of this can be seen on the sample page.
Once you've entered all your assets you can get a hard copy by going to the "Display" page and selecting the Print option from the File menu on your browser. Note that if you wish to print all your entered items at once then you must select the "All Locations" and "All Categories" from the Location and Category selection boxes respectively (on the Display page).
Please note that you must have cookies enabled on your Web Browser to be able to use the TOWER Vault. This is normally the default setting after installation, however if cookies are not enabled you can turn them on as follows:

Microsoft Internet Explorer 5
  1. Click on View in the top line of your browser
  2. Click on Internet Options
  3. Click on the Advanced tab
  4. Scroll down the the Security section
  5. Under Cookies click on Always accept cookies
  6. Click on OK
Netscape 4.0 and above
  1. Click on Edit in the top line of your browser
  2. Click on Preferences
  3. Click on the word Advanced (not on the + sign)
  4. In the Cookies section click on Accept all cookies
  5. Click on OK