Tower translates

Water damage that happens over time.

E.g. Leaking underfloor pipes you don't notice until the damage is done. Limits apply to this cover, be sure to read the policy wording.

Check out our blog Tower translates: Hidden gradual water damage

NHCover is provided by the Natural Hazards Commission Toka Tū Ake (NHC) and covers damage to residential buildings up to the first $300,000 plus GST, caused by a natural hazard event including earthquakes, landslides, volcanic activity, hydrothermal activity, tsunamis, and natural hazard fire that occurs because of any of these hazards. The NHC also provides limited cover for your land that has been damaged by a natural hazard listed above as well as by storm and flood.

A claim for damage that first occurred on or after 1 July 2024 is subject to the NHI Act and is referred to as an NHCover claim.

For more information visit the Natural Hazards Commission Toka Tū Ake website.

Reinsurance is insurance for insurance companies. If there's a large event that affects a whole community, reinsurance is there to help insurers cover the cost of claims. It acts as a guarantee that if something major happens, we can still pay out your claim and get you back on your feet as quickly as possible. The cost of reinsurance can sometimes increase, this is reflected in your insurance premium.

If something happens and you need to claim on multiple car, house or contents policies, you'll only pay one excess.

E.g. A car drives through your garage and runs over your bike, you pay one excess for both your bike and your home even though you are claiming on two policies.

A whoopsie... something unintended and unexpected by you that causes damage.

Choosing to spend your holiday in your hometown or country. Don't forget, you'll need travel insurance for your domestic holiday too. Check out our domestic cover.

If your rental car is damaged, stolen or involved in an accident, your policy may cover the fee charged by rental car companies to repair or replace the vehicle.

Even though you may have splurged on your holiday, we'll only pay fair and sensible costs if you need to claim for expenses covered as part of your policy.

A pre-existing medical condition is a health condition you have before taking out a travel insurance policy.

This may limit the type of cover available to you.

How long you have cover for under your policy. Check out your Certificate of Insurance for this info.

Exclusions are events or circumstances that won’t be covered under your travel insurance policy.

E.g. certain locations, activities or illnesses.

Pays for your travel and accommodation to get home when you have to finish your trip early due to an unforeseen circumstance.

Anyone who rides a motorbike.

A pillion is a seat for a passenger behind the motorcyclist.

Tower's motorbike insurance policy covers your passenger's helmet and riding gear if it's damaged in an accident or stolen.

Pannier bags attach to the back of your motorbike and are a lot more comfy to use on longer motorbike rides than a backpack.

Leathers are the protective gear you wear when riding your motorcycle.

Is the amount you've chosen to insure all your stuff for, and it's the most we'll pay if you lose everything.

Check out our blog on How to calculate your contents value, the easy way.

The Situation is the address that is shown on your certificate of insurance.

The amount your insurer pays to replace an item should it be lost, stolen or damaged beyond repair.

Love hitting the slopes, the waves or the golf course? Leisure and recreational equipment like surfboards, kayaks, e-scooters or e-bikes and camping equipment are all covered under your contents insurance.

Includes almost anything you use or wear. Make sure you think of everything you have in your bedroom and bathroom cupboards.

E.g. clothes, cosmetics, contact lens, glasses, handbags, head phones, jewellery, laptops, mobile phones, shoes, even your false teeth if they come out!

We'll replace an old item with a new version, should it be stolen, damaged beyond repair or lost.

E.g. Your stolen handbag that’s a few years old is replaced with a brand new one.

Includes most things that you may have in your home. If you were to turn your house upside down and shake it, it's all that stuff that would fall out.
Anything from cutlery, electrical appliances (not permanently plumbed or wired in), food, furniture, household linen, rugs, to pots and pans.

Includes furniture and equipment that you use for your job while working from home.

E.g. desk, office chair, laptop, monitors, but not tools of trade - you'll need a business policy to cover those.

Insure your new car with Tower and if it's written off, we'll replace it with a new car of the same make, model and variant inside the first two years.

This is the minimum (and also cheapest) level of car insurance available. It covers damage your car causes to other people's car or property.

Often mistaken for low value vehicle insurance, it's important to remember that if an accident occurs this covers the costs for other people's repairs which can be expensive.

Check out our blog on Comprehensive or third party insurance.

Damage that occurs during a natural disaster, such as a flood, earthquake, natural landslip, volcanic eruption, hydrothermal activity or tsunami.

Changes or alterations to your car, over and above what it comes with as standard from the factory. This could be anything from tinted windows to suspension, wheels and tyres. It's not anything you add to your car - some things we'd call accessories.

This is the amount you’d get for your car if you were selling it today. It changes over time and may be less than you think it is.

When a claim is made on a car with a market value, our valuer will review cars of the same make, model, kms, year and condition as your car to define what the current market value is.

Check out our blog on Market vs Agreed value for car.

The value of your car that we’ve agreed to at the time of insuring your car or at any change in cover or at renewal. This is a set amount you’ll get if your car is written off. So you know how much you’ll have to spend on a new one.

E.g. We agree to pay you $6,000 if your car is damaged in an accident and we decide it is a total loss.

Check out our blog on Market vs Agreed value for car.

Yachts are powered by the wind, and we make getting cover for your yacht a breeze.

The name of this one gives a bit away. This boat combines the flexibility of sailing coupled with on land storage.

Is the little boat you use to get to your big boat.

The maximum amount paid if your boat is damaged beyond repair. The amount should cover the cost to replace your vessel and any componentry. If you have a trailer, add it as an optional benefit.

The process of recovering a boat after a shipwreck or other maritime casualty.

From Fi Glass to Frewza, Cuddy Cabin to Bow-rider, a runabout is a trailerable powerboat.

Like a motorcycle for the sea. Covers all Jetski's, PWC and Pole Ski's.

The distance the skipper or the boat can safely travel. In NZ these are commonly defined by enclosed, inshore, coastal, and offshore distances.

Smaller boats such as a Laser, Optimist or the classic off-beach dinghy.

Check out our blog on How to launch a boat.

A unique distance of measurement for the sea. 1 nautical mile equals 1.85km.

Your legal liability outlined in the terms and conditions of a lease or agreement with the marina in NZ that you store your boat.

We'll give you a discount if you don't use your boat for a period of time.

Check out our blog on How lay-up cover can enhance your boating experience.

Knot just for rope...a knot also refers to the measure of speed a boat travels on the water.

1 knot = 1.852 kph.

A boating enthusiast. Commonly seen wandering around marinas or by boat ramps, especially in summer months often wearing boat shoes.

Check out our blog on Coastguard bringing boaties home safe.

Is cover provided under the EQC Act 1993 for damage to residential buildings, and land caused by certain natural disasters such as earthquakes, landslips, volcanoes and tsunamis.

A claim for damage that first occurred before 1 July 2024 is subject to the EQC Act and is referred to as an EQCover claim.

For more information visit the Natural Hazards Commission Toka Tū Ake website.