A friend who helps us in our hard times gets the genuine friend badge. In the same way, car insurance also helps in our hard times if we hit someone’s car or property. It helps us get on the road, repair our vehicle, or, in some cases, replace it. Now, don’t you think our car insurance is our most true friend, which only lets us with others?
Well, my car insurance is my best friend because it helps me to continue driving and stay safe.
Car insurance is an instrument that helps Kiwis stay safe on the roads. However, the New Zealand government doesn’t pressure you to buy one, but I know that the cost of living is high, so why don’t we save our whole life in case something happens from our side?
Today, we have Tower Car Insurance with us to present you with a detailed review guide that covers everything, such as benefits, discounts, pros & cons, claim process, customer support service, and much more.
So, if you are one like me who cares about your car, this guide is for you.
Introduction to Tower Insurance
Tower Cooperation was started in 1869 when the Government Life Insurance Office was created in New Zealand. The New Zealand government provided its initial capital, and it has over 150 years of experience. The head office is based at 136 Fanshawe Street, Auckland’s CBD.
In 1953, the New Zealand government announced the Government Life Insurance Act, and as a result, Government Life became a separate corporation and was renamed as the Tower Corporation in 1987
Tower Limited is among those companies listed in the international market; Tower got its listing on the Australian and New Zealand stock exchanges with a market capitalization of $265.64m with 28,000 individual shareholders in September 1999.
In November 2006, Tower’s New Zealand and Australian businesses were separated with the approval of its shareholders and the High Court.
Tower has the particular experience of over 150 years of helping and serving Kiwi customers to protect their homes, cars, and businesses.
Also, Tower has a specific platform called My Tower, which is a very easy-to-use online self-service portal that’s open 24/7. It allows you to update, claim, and manage your insurance quickly online.
Who Can Benefit from Tower Car Insurance?
Well, there are no hardcore eligibility criteria to get Tower car insurance. As long as you are a New Zealand resident and over 18 years old, you can easily get Tower insurance. However, you need to submit your personal information and car documents to get an insurance policy. Make sure you provide the right information; otherwise, you may find yourself in a situation where you will not get your claim approved.
The Different Types of Tower Car Insurance Policies
With a Tower car insurance policy, your car is covered only while it is being used for social, domestic, or private purposes. This includes community or charity work or getting to and from work in New Zealand.
Tower offers three types of insurance policies.
- Comprehensive cover,
- Â Third-party, fire and theft cover,
- Â Third-party cover
Each policy has a different coverage. One policy has a higher coverage amount and area, while the other has some limited coverage.
Here, we have a detailed analysis of all three policies so you can easily understand the differences. Last, we will tell you which one is best for you.
Tower Comprehensive car insurance:
Tower’s comprehensive car insurance is the highest level of coverage for your car and covers any damage you may cause to others. This policy also offers optional coverage for RoadWise roadside breakdown service, Windscreen, and window glass excess buyout, with no cover for under-25-year-old drivers and trailers.
Tower third-party, fire, and theft cover car insurance:
This insurance policy only covers you from any incident caused by your responsibility or any damage that happens to your car from fire and theft.
This policy provides coverage for the same amount of coverage for liability, bodily injury, legal costs, and Accessories and modifications to your car as a comprehensive car insurance policy.
Apart from that, this policy also offers optional coverage for the RoadWise roadside breakdown service and excess windscreen and window glass buyout.
Tower Third-party cover cover car insurance:
This Tower car insurance policy will provide coverage only for the third-party damage that happens with your car.
This policy also provides the same amount of coverage for liability, bodily injury, and legal costs for your car as a comprehensive and third-party fire and theft car insurance policy.
This policy also offers you the optional RoadWise roadside breakdown service.
Comparison between all three Tower car insurance:
Here, we have made a table for you where we have covered all three tower insurance policies with their coverage amount and the optional coverage.
By looking at the table below, you can easily decide which suits you the best.
| Coverage Type | Comprehensive | Third-party, fire & theft | Third-party cover |
|---|---|---|---|
| Liability protection | $25m | $25m | $25m |
| Bodily injury including reparation | $1m | $1m | $1m |
| Legal defence costs | $5,000 | $5,000 | $5,000 |
| Marine general average | ✔ | ✔ | ✔ |
| Fire and theft cover | Agreed/ market | market | – |
| Collision cover | Agreed/ market | – | – |
| Accidents caused by uninsured third party | Agreed/ market | Up to $4,000 | Up to $4,000 |
| Claims that were not your fault | ✔ | ✔ | ✔ |
| No claims bonus | ✔ | ✔ | ✔ |
| Road clearing costs | $1,000 | $500 | – |
| Towing | ✔ | ✔ | – |
| Temporary storage | ✔ | ✔ | – |
| Transport costs | $500 | $250 | – |
| One event – one excess | ✔ | ✔ | – |
| Replacement and additional cars | ✔ | ✔ | – |
| Stolen from a locked garage | No excess | No excess | – |
| Car seats | $750 | ✔$500 | – |
| Tower recommended repairer | ✔ | ✔ | – |
| Accidents caused by uninsured third-party | ✔ | ✔ | – |
| Natural disaster damage | ✔ | – | – |
| Fatal injury | $10,000 | – | – |
| Keys and locks lost or stolen | $1,000 | – | – |
| New vehicle replacement | ✔ | – | – |
| RoadWise roadside breakdown service | Optional | Optional | Optional |
| Rental vehicle hire for loss of use | $1,000 | $750 | – |
| Windscreen and window glass excess buyout | Optional | Optional | – |
| Accessories and modifications | $2,000 or $5,000 | $2,000 or $5,000 | – |
| No cover for under 25 year old driver | Optional | – | – |
| Trailers | Optional up to $3,000 | – | – |
Tower car insurance Optional Add-Ons and Benefits
Tower offers four optional services that you can add to your car insurance policy. We will discuss all four optional services in detail here.
RoadWise roadside breakdown service:
Tower has partnered with NZRA (New Zealand Roadside Assistance) and offers the RoadWise program. This program is not part of your insurance policy, but you can add it to your policy. This add-on is basically for your car, not for the driver.
There is a 48-hour waiting period after you get this add-on to your car. At the time of getting this program, your vehicle should not have any defects, and you need to produce the Warrant of Fitness (WOF) of your car.
You can only make three call-outs each year at 0800242402 for assistance, and if you make more, you have to pay the cost. The average response time is around 30-40 minutes, depending on where you are.
This optional benefit is not available for vehicles greater than 3.5 tonnes or longer than five meters.
RoadWise program benefits include:
- Covers the vehicle, not the driverÂ
- Â Free call outsÂ
- Â 24/7 nationwide serviceÂ
- Â Towing to the nearest repairer or place of safetyÂ
- Â Towing to the nearest charging stationÂ
- Â Emergency fuel deliveryÂ
- Â Spare tyre changeÂ
- Â LockoutsÂ
- Â Flat battery serviceÂ
- Â Technical adviceÂ
- Â Connect your callÂ
- Â Locating parts and services
Windscreen and window glass excess buyout:
This additional add-on helps you keep your no-claim bonus in case you file a claim for loss to your windscreen or window glass. This benefit does not cover sunroofs, panoramic roofs, mirrors, lights, indicators, or their covers and is not available for all vehicles.
Discount for no cover for under-25-year-old drivers:
As we know, if any driver is under 25 years old, then they will get a higher premium than an older driver. And here comes the role of this optional add-on where you dealers to the insurance company that your car won’t be driven by anyone under 25 years. This way, you will get comparatively lower insurance premiums or discounts.
Optional coverage for Trailer:
This optional coverage covers the cost of repairing your registered and warranted domestic single-axle Trailer up to $3,000, as listed on the certificate of insurance.
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How Much Does Tower Car Insurance Cost?
Tower car insurance policy costs fluctuate from person to person. It is your customized cost for your vehicle. However, many factors affect your tower car insurance quote price, increasing or decreasing the value.
Factors that affect your insurance cost are your age, your car makes and model year, your driving experience, whether you have claimed insurance before, and whether you are getting a single policy or multipolicy.
Let’s understand each one:
Age: In New Zealand, insurance companies consider drivers under 25 years of age very high-risk drivers. So, if you are under 25, your cost will be almost 1.5 times that of someone who is above 25.
Car make & model year: If your car is a new one, then you will have to pay a lesser amount of insurance premium, but if your car is older, then you have to pay a higher amount because of the higher chances of getting any defect.
Your car insurance claim history: If you have made any claims before, you will be considered a hazardous driver, and you will have to pay extra money.
Policy counts: If you have only one simple car insurance policy with Tower insurance, you have to pay extra, while you get two policies, like a car or home insurance policy. If you buy in a bundle, you will get an extra 20% on your insurance premium.
But in general, if you are under 25, you will have to pay around $120, and if you are above 25, you will have to pay somewhere around $60 to $90 based on your age, claim history, car make, and model.
Ways to Save Money on Tower Car Insurance
Tower Car Insurance NZ offers many different ways to save on your premiums, which they already mention on their websites, as well as policy terms and conditions. You can use these opportunities to save your hard-earned money on car insurance with maximum insurance coverage.
Multipolicy discount: If you bundle two or more insurance policies with Tower Insurance, you will get 10% for two policies and 20% for more than two insurance policies.
When you buy a new policy and meet the eligibility criteria, the multipolicy discount will be applied to the Tower premium for the new policy from the commencement date of that policy.
Any discount or additional discount to the Tower premiums for your existing eligible policy or policies will commence from the following renewal dates for each applicable policy.
Avail of no-claim bonus: If you haven’t filed any insurance claim in the previous year’s insurance term, then at the time of your car insurance, you can avail of your no-claim bonus, which reduces your insurance premium.
Only add drivers under 25 years old: In New Zealand, car insurance prices depend on your age. So, I advise you to leave the driver under 25.
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Is Tower Car Insurance Affordable?
Well, the affordability of any insurance policy depends on the person’s financial conditions and earnings. But as a comparison, if we compare Tower Insurance with other insurance providers, then it falls within the same range.
The average minimum wage is $23 in New Zealand, and your monthly insurance premium is just three hours of work a month.
So, Tower car insurance is affordable in New Zealand.
Pros & Cons of Tower car insurance
Every insurance company offers great coverage, but each has some pros and cons. So, here are the pros and cons of Tower car insurance.
Tower car insurance pros
- Tower insurance also covers drivers on a learner’s license or restricted license.Â
- 15 days cancellation and entire refund facility from the policy start date as long as you haven’t made any claims during this time
- No claims bonus discount.
- 10% discount for bundling up two tower insurance policies, 20$ discount for bundling up to three tower insurance policies
- Tower repair partnersÂ
- Tower Limited: financial strength rating A- (Excellent) from A.M. Best
- Four different optional add-ons are available
- Provides coverage for cover for your EV, PHEV, or Hybrid
Tower car insurance Cons
- Tower insurance policies don’t cover your car if it stops working due to a mechanical failure.
- Doesn’t cover rideshare and carshare services like Uber, Ola, Zoomy, and Yourdrive.
- RoadWise may not be available for all car insurance policy types.
How to Get a Quote from Tower Car Insurance
The Tower insurance car quote process is straightforward. First, visit the Tower website. Then click on the car menu on the menu bar and click on the Get a Quote button.
This will open a new page where you enter your personal information, including name, email, address, date of birth, phone number, and car information like make and model year. This will give you an estimated Tower insurance quote.
How to File a Claim with Tower Car Insurance
Filing a claim is a crucial step, so here you need to be more cautious. Always make sure you collect all the necessary information, like incident date, time, location, and photographs of the damaged car or property.
Here are the steps you need to follow to file a tower car insurance claim:
- Go to the tower insurance website.
- Then click on the claim button
- Then click on Start your claim in the My Tower portal
- If you don’t want to file a claim online, then you can chat with them online, email them, or send your claim document to their postal address.
Is Filing a Claim with Tower Easy?
Yes, filling a claim with Tower is very easy. Tower has a My Tower online portal dedicated to filing and handling allegations online. Here, you can check your claim status as well.
Just log into your My Tower account. Here, you need to enter all the required information, and they will take you step by step. This way, filling a claim with Tower becomes easy.
Tower’s Customer Support
Tower offers best-in-class customer service via phone, email, and online chat. If you need any assistance, you can call Tower Car Insurance at 0800 379 372, Monday through Friday from 8 AM to 6 PM and Saturday from 9 AM to 5 PM. Tower also offers an online chat feature on its website, which you can use to contact Tower.
Tower car insurance review
There are many third-party websites, like Trustpilot and Better Business Bureau, where we can find legitimate Tower car insurance reviews. There are 111 reviews on Trustpilot about Tower insurance, with a bad rating of 1.5 stars.
However, Tower Limited has the A- (Excellent) financial strength rating from the AM Best.
Best alternative car insurer to consider in NZ
If you don’t find Tower insurance suitable, don’t worry. There are many insurance providers that you can consider. The table below shows which insurance in New Zealand suits your needs.
Also, we advise you to compare all of them and decide which is best for you.
Company name | Benefits | BEST FOR |
AMI |
| Best for young drivers less then 25 years old to save excess by $250 with AMI Safe Driver online course. |
COVE |
| Best for young drivers above 25 years old |
TOWER |
| Best for for your EV, PHEV or Hybrid |
AA |
| Best for every car Driver |
STATE |
| Best for every driver |
Conclusion
Appropriate insurance is crucial on New Zealand’s roads as it gives you peace of mind if you get hit by mistake or hit someone. Tower offers many discounts that can help you lower your monthly insurance premium. In my opinion, if you want any kind of coverage for yourself, I found Tower fulfilling it personally.
But I also suggest you check out other options to find better deals.