Boat Coverage NZ does not assign opinion-based ratings, star scores, or "best" labels to insurers. Information on this page is factual and drawn from each provider's public website and product disclosure statements (PDS). Specific terms, excess levels, and exclusions vary by policy — always refer to the current PDS before purchase.
Tower Insurance — Boat Insurance Overview
Tower is one of the New Zealand-headquartered general insurance brands and is listed on the NZX. Tower writes pleasure craft and trailerable-boat policies through its direct channel.
Quick facts
- Parent / underwriter:
- Tower Limited (NZX:TWR)
- Underwriter (risk carrier):
- Tower Limited
- Distribution channel:
- Direct to consumer
- Policy types:
- Pleasure craft, trailerable boats
- Valuation basis:
- Agreed value or market value (policy-dependent)
- Default navigation:
- New Zealand coastal waters
- Notable features:
- New Zealand-listed insurer. Direct-to-consumer distribution.
- Website / PDS:
- tower.co.nz
Policy structure
- Hull age and survey requirements
- Hull age and survey requirements per the current PDS.
- Excess levels
- Standard excess per claim. Refer to the current PDS.
- Trailer cover
- Available; verify on the schedule.
- Charter / commercial use
- Not covered on a pleasure-craft policy.
- Pacific Islands / offshore navigation
- Default navigation is New Zealand coastal; offshore trips require confirmation with Tower.
Common optional extensions
- Trailer cover
Exclusions to be aware of
Standard market exclusions including racing, charter, mechanical breakdown, wear and tear. Refer to the current PDS.
Claims process
Online claim lodging or by phone; claims handled in NZ.
Claims contact: Tower claims — contact on policy schedule and at tower.co.nz
Who this insurer commonly suits
Recreational owners who prefer dealing with a NZ-listed direct insurer.
What to verify before purchase
When reviewing any boat insurance product, the factual items worth checking in the current PDS are:
- Whether the policy is written on agreed value or market value
- The default navigation area and any extensions available for your intended use
- Excess levels for hull, machinery, third-party, and named-windstorm claims
- Hull age, survey, and rigging-age requirements (for sailboats)
- Sail depreciation schedules (for sailboats)
- Bar crossing, racing, charter, and commercial-use conditions
- Trailer cover inclusion and sum insured
- Electronics and tackle sub-limits
- Claims-notification timeframes and contact options
Verifying registration
You can verify the registration of any New Zealand insurer or financial service provider on the Financial Service Providers Register. Conduct concerns about a licensed Financial Advice Provider can be raised with the Financial Markets Authority. Complaints that cannot be resolved with the insurer may be referred to the insurer's external dispute resolution scheme — see the PDS for the scheme name and contact details.
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