Compare our boat insurance

Looking to insure your new boat or thinking of switching insurers? We are Coastguard's preferred boat insurer and offer you a great range of benefits.

Discounted Coastguard membership with Tower

$30 off a Coastguard membership

Tower boat insurance customers can enjoy $30 off Coastguard individual memberships for additional peace of mind while out on the water. Ts&Cs apply.

Award winning insurance

We're award-winning

We're thrilled to have won General Insurer of the Year 2022 at the NZ Insurance Business Awards.

Save up to 20% with our multi-policy discount

Save up to 20% with our multi-policy discount

Buy multiple car, house, contents, landlord or boat policies and save up to 20%. Ts&Cs apply.

3 year replacement from new with boat insurance

3 year replacement from new

Insured your boat from new with Tower? If during your claim it's written off by us, we’ll replace it with a new boat of the same make and model.

social yacht racing cover with boat insurance

Social yacht racing cover

Enjoy yacht racing? Enjoy it with peace of mind. We cover your yacht, trailer sailer or off-beach yacht while it’s being used for social yacht racing.

optional recreational equipment cover with boat insurance

Optional cover for recreational equipment

We'll cover loss to your recreational equipment (fishing gear, diving equipment, and waterski equipment) while it’s on your boat or in use.

Boats we cover

Runabout
Runabout
From Fi Glass to Frewza, Cuddy Cabin to Bow-rider, get cover for your trailerable powerboat.
Personal Water Craft (Jetski)
Personal Water Craft (Jetski)
Cover for your Jetski, PWC, or Pole Ski, whatever you call it. If you ride it we can provide cover for it.
Launch/Cruiser
Launch/Cruiser
Cover for your moored launch whether you own a cruiser, sport fisher, or sedan. Cover also includes your tender if you have one.

For multi hulls, please call 0800 006 386 for a quote.
Yacht
Yacht
Yachts are powered by the wind, and we make getting cover for your yacht a breeze.

For catamaran yachts, please call 0800 006 386 for a quote.
Trailer Sailer
Trailer Sailer
With the flexibility of sailing coupled with on land storage, we can provide cover for your legally trailerable sail-boat.
Off beach
Off-beach
Cover for your Laser, Optimist, Hobie, or classic off the beach dinghy.

Tower's boat insurance policy includes

This is a summary only. For all these benefits, please make sure you read the policy wording to understand the terms, conditions, limits and exclusions that may apply.

Boat Comprehensive

Accidental loss 
If your boat suffers accidental loss we'll pay market value or sum insured, whichever is less.
Accidental loss
If your boat suffers accidental loss we'll pay market value or sum insured, whichever is less.
Multi location cover 
We provide cover for loss that happens to your boat, on land, on water, in storage or on its own trailer.
Multi location cover
We provide cover for loss that happens to your boat, on land, on water, in storage or on its own trailer.
Fire and theft cover 
If your boat is stolen or damaged by fire we'll pay market value or sum insured, whichever is less.
Fire and theft cover
If your boat is stolen or damaged by fire we'll pay market value or sum insured, whichever is less.
3 year replacement from new 
Insured your boat from new with Tower? If during a claim it becomes a total loss, we’ll replace it with a new boat of the same make and model. 
3 year replacement from new
Insured your boat from new with Tower? If during a claim it becomes a total loss, we’ll replace it with a new boat of the same make and model. 
Up to 5 year replacement value for boat motor 
Up to 5 year replacement value for boat motor
Emergency rescue and emergency repairs 

Up to $25,000

We’ll reimburse you for the following reasonable costs you have incurred following a loss to your boat and we’ve accepted your claim: 1. To rescue you, your passengers, and your pets. 2. To remove your boat to the nearest repairer or place of safety. 3. To make essential repairs to your boat so it can get to a repairer. 4. To return your boat to you after it has been repaired or recovered, or for you to travel to collect it from the repairer. We pay this benefit in addition to your boat’s market value or sum insured.
Emergency rescue and emergency repairs
We’ll reimburse you for the following reasonable costs you have incurred following a loss to your boat and we’ve accepted your claim: 1. To rescue you, your passengers, and your pets. 2. To remove your boat to the nearest repairer or place of safety. 3. To make essential repairs to your boat so it can get to a repairer. 4. To return your boat to you after it has been repaired or recovered, or for you to travel to collect it from the repairer. We pay this benefit in addition to your boat’s market value or sum insured.
Up to $25,000
Keys and locks 

Up to $1,000

We'll help replace keys and locks if yours are stolen, lost, or illegally copied, and you won't need to pay an excess.
Keys and locks
We'll help replace keys and locks if yours are stolen, lost, or illegally copied, and you won't need to pay an excess.
Up to $1,000
Social yacht racing cover 
We provide cover for your yacht, trailer sailer or off-beach yacht while it’s being used for social yacht racing.
Social yacht racing cover
We provide cover for your yacht, trailer sailer or off-beach yacht while it’s being used for social yacht racing.
Replacement boat cover 
We’ll temporarily cover any boat you purchase to replace your boat that was previously insured under this policy for up to 14 days. Some limits apply.
Replacement boat cover
We’ll temporarily cover any boat you purchase to replace your boat that was previously insured under this policy for up to 14 days. Some limits apply.
Marina liability 
We’ll cover you for legal liability up to $5,000,000 imposed on you by the terms and conditions of a lease or agreement with you for the provision of a berth or storage facility for your boat.
Marina liability
We’ll cover you for legal liability up to $5,000,000 imposed on you by the terms and conditions of a lease or agreement with you for the provision of a berth or storage facility for your boat.
Transport and accommodation costs 
We’ll cover the reasonable travel and accommodation costs foryou and those who were in your boat to complete your journeyor return home following a loss to your boat covered under thispolicy. This benefit also covers your domestic pets. We’ll also pay for you to travel to collect it from the repairer. We pay this benefit in addition to your boat’s market value or sum insured.
Transport and accommodation costs
We’ll cover the reasonable travel and accommodation costs foryou and those who were in your boat to complete your journeyor return home following a loss to your boat covered under thispolicy. This benefit also covers your domestic pets. We’ll also pay for you to travel to collect it from the repairer. We pay this benefit in addition to your boat’s market value or sum insured.
Water-skiing 

Limits apply.

We’ll cover you for your legal liability for: 1. death or injury to a water skier being towed by your boat 2. death or injury to any person caused by a water skier who is being towed by your boat 3. property damage caused by a water skier who is being towed by your boat which occurs during the period of insurance within New Zealand’s geographical limits. Water-skiing also means wake-boarding and aquaplaning activities. It does not include any towing of any persons or objects in the air.
Water-skiing
We’ll cover you for your legal liability for: 1. death or injury to a water skier being towed by your boat 2. death or injury to any person caused by a water skier who is being towed by your boat 3. property damage caused by a water skier who is being towed by your boat which occurs during the period of insurance within New Zealand’s geographical limits. Water-skiing also means wake-boarding and aquaplaning activities. It does not include any towing of any persons or objects in the air.
Limits apply.
Emergency equipment restoration 
We’ll contribute to either the replenishment, replacement or repacking of emergency equipment used by you following a lossto your boat and we’ve accepted your claim.
Emergency equipment restoration
We’ll contribute to either the replenishment, replacement or repacking of emergency equipment used by you following a lossto your boat and we’ve accepted your claim.
Pay only one excess 
Pay only one excess when claiming on multiple eligible policies for a single event. The highest excess applies.
Pay only one excess
Pay only one excess when claiming on multiple eligible policies for a single event. The highest excess applies.
Optional benefits 
Optional benefits
Recreational equipment 

Optional $5,000 or $10,000

We'll cover loss to your recreational equipment (fishing gear, diving equipment, and waterski equipment) while it’s on your boat or in use.
Recreational equipment
We'll cover loss to your recreational equipment (fishing gear, diving equipment, and waterski equipment) while it’s on your boat or in use.
Optional $5,000 or $10,000
Lay-up cover for when you don’t use your boat 
If you keep your boat stored over winter, we offer optional lay-up cover that means you pay a reduced premium for the period your boat is not in use (eligibility criteria applies).
Lay-up cover for when you don’t use your boat
If you keep your boat stored over winter, we offer optional lay-up cover that means you pay a reduced premium for the period your boat is not in use (eligibility criteria applies).
Boat trailer 
If you’ve chosen this optional benefit, we’ll pay for loss to your registered and warranted boat trailer listed on your certificate of insurance.
Boat trailer
If you’ve chosen this optional benefit, we’ll pay for loss to your registered and warranted boat trailer listed on your certificate of insurance.
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Tower Translates

We know insurance lingo can be a bit confusing. While our policies are WriteMark™ approved, we've put our heads together to explain some common terms.

If you're wondering what all that insurance lingo is all about, let’s unpack it.

Check out our translations
Car insurance translated

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Boat insurance FAQs

What kind of recreational equipment is covered under the optional benefit?

Diving equipment, fishing gear (rods and reels, but not tackle or tackleboxes), and water ski equipment, provided they are not otherwise insured.

My boat is a custom, one-off make, or has been modified from the original design. Can I insure it?

We may need a few more details from you which we can uncover over the phone. Please get in touch with us on 0800 379 372.

Am I covered for business use?

Our Boat Comprehensive policy covers you for loss only while it is being used for social, domestic, or recreational purposes within New Zealand's geographical limits. We do not offer cover for business or commercial use currently.

How do I make a boat insurance claim?

We aim to make claiming on your Boat insurance policy as simple as possible. We'll guide you through the process, let you know what happens next, and keep you up to date with any progress.

Find out more about boat claims

Can I cancel if I change my mind?

If you're not completely happy with your cover, just let us know within 15 days of the policy start date.

As long as you haven't made any claims during this time, we'll cancel this policy and refund any premium payments you've made. 

** Multi-policy discount Ts&Cs apply.

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