Tower Boat Insurance

Founded over a century and a half ago, Tower has unfailingly offered support to New Zealanders and Pacific Islanders alike, helping safeguard their homes, vehicles, businesses, and precious possessions.

Boat insurance is just one of the many protective services offered by this steadfast institution. Tower's enduring strength in challenging economic periods speaks volumes about its unwavering commitment to clients and its readiness to embrace a bright future. 

Rooted in Kiwi heritage, embracing global impact

Originating from humble beginnings in Dunedin, Tower's influence has now spanned seven nations across the Pacific, thanks to dedicated teams ready to step in and support their local communities in times of need.

This insurance behemoth maintains a unique position as the only publicly listed general insurance company from New Zealand, with a noteworthy market valuation of $265.64 million. This position is bolstered by a robust international, institutional, and personal investor base numbering 28,000.

Pushing boundaries: Tower's drive for innovation and excellence

In this digital age, Tower is redefining the insurance landscape by integrating innovation and data analytics into its operational practices. The dedication of Tower to offer an elegant, gratifying experience for clients is reflected in its strategic objectives, geared towards driving growth, stimulating innovation, and boosting its financial strength.

Their commitment to transparency is seen in their policy language, adhering to the WriteMark Plain Language Standard for better comprehension. In a bid to add extra value, Tower also enables clients to earn 1 Airpoint Dolla for every $100 spent on their annual premium.

Acknowledging achievements, sustaining success

Tower's trailblazing efforts have not gone unnoticed, having clinched Canstar’s Car Insurance Provider of the Year and Outstanding Value Car Insurance titles for 2021 - 2022, and the 2022 General Insurance Provider of the Year at the IBANZ Awards.

Pioneering sustainability for a better tomorrow

As a firm believer in sustainability, Tower goes beyond its core services by teaming up with communities and councils to promote climate literacy and share their environmental data.

This is encapsulated in their move to the state-of-the-art 6 Green Star Building in Auckland's central business district. This environment-friendly edifice serves as a testament to their dedication to reducing energy usage and waste, providing an efficient and vibrant workspace for their employees.

Embracing diversity and inclusion

Tower, in its pursuit of excellence, prioritises diversity and inclusion. With an agile, spirited, and wholly customer-centric approach, they’re intertwining an inventive mindset with cutting-edge technology to redefine insurance in New Zealand.

Tower's journey, which began with the establishment of the Government Life Insurance Office in 1869, has been marked by resilience and adaptability. Through changes in structure and ownership, the company has steadily grown, upholding its mission to provide an insurance experience worth celebrating. Today, armed with over 150 years of experience, Tower remains committed to providing comprehensive insurance solutions to you.

Ensuring comprehensive protection for your prized watercraft, Tower's boat insurance stands out in the marine insurance industry, boasting an array of award-winning services and benefits.

As Coastguard's preferred boat insurer, Tower provides a range of perks, including a $30 annual discount on an individual Coastguard Membership, multi-policy discounts of up to 20%, and an easy-to-follow Tower boat insurance buyer's guide.

Coverage tailored to your needs

Whether you prefer the thrill of a Jetski, the elegance of a yacht, or the leisurely pace of a cruiser, Tower has designed insurance solutions for every boat owner's needs. They cover all types of boats, including speedboats, cruisers, yachts, trailer sailers, and personal watercraft.

Unique coverage options like social yacht racing insurance, optional recreational equipment protection, and even insurance for beach crafts, ensure peace of mind for boat owners both on and off the water. For multi-hull boats and catamaran yachts, customised quotes are available upon request.

Tower's diverse protection and benefits

Tower's boat insurance is distinguished by the extensive benefits it offers to you. If your boat suffers unexpected damage or is stolen, Tower provides compensation up to the market value or the insured amount, whichever is less.

Uniquely, if your brand-new boat is declared a total loss during a claim, they offer a three-year new boat replacement of the same make and model. If your boat's motor, aged five years or less, experiences damage, they will also cover the cost of new mechanical and electrical components.

Ensuring safety and assistance

Recognising the potential for unexpected incidents, Tower's policy includes cover for rescue and repair services, protecting not only the passengers but also pets aboard.

In the event of a loss, coverage includes the transport of your boat to the nearest repair centre, essential repairs to reach a repairer, and returning your boat after repairs.

They also cover up to $25,000 for emergency rescue and repairs, and up to $1,000 for the loss or theft of keys and locks.

Additional benefits and optional coverage

Other valuable offerings include cover for a replacement boat for up to 14 days, a marina liability cover of up to $5,000,000, and compensation for reasonable travel and accommodation expenses following a loss to your boat.

Tower also covers your legal liability related to water-skiing incidents and offers to replenish used emergency equipment, subject to claim acceptance.

If you’re seeking additional coverage, Tower offers optional protection for recreational equipment and boat trailers. They even provide an optional lay-up cover, reducing your premium during the winter when your boat is in storage.

This demonstrates Tower's commitment to providing a well-rounded, comprehensive, and flexible boat insurance solution, tailored to the unique needs of every boat owner.