Tower Insurance is New Zealand's only Kiwi-owned and operated general insurer listed on the NZX. With origins dating back to 1869 and 319,000+ customers, Tower covers 10 of the 13 major insurance categories and is known for its risk-based pricing model and strong digital experience.
In This Review
What is Tower Insurance and who's behind it?
Tower Insurance is New Zealand's only Kiwi-owned and operated general insurer listed on the NZX (ticker: TWR). Its origins trace back to 1869, when the Government Life Insurance Office was established by the New Zealand government. The company was renamed Tower Corporation in 1987, became a mutual association in 1990, demutualised in 1999, and listed on both the NZX and ASX that same year.
Headquartered in Auckland, Tower serves over 319,000 customers - roughly 10% of the NZ personal lines market. The company holds an A- (Excellent) AM Best financial strength rating with a stable outlook and rejoined the NZX Top 50 in 2024.
Tower has won the Canstar Home & Contents Insurer of the Year award in both 2024 and 2025, and received the Canstar Innovation Excellence Award in 2023 for its flood risk rating tool. The company is led by CEO Paul Johnston, appointed in June 2025.
Tower's product range covers most general insurance categories:
Tower does not offer life, health, or classic car insurance. However, its range of general insurance products - combined with business insurance options including business assets, interruption, liability, and commercial vehicles - makes it one of NZ's more comprehensive general insurers.
How customers rate Tower Insurance across major review platforms
Note on rating discrepancy: Tower's Trustpilot rating (4.3/5 from 2,677+ reviews) is significantly higher than its Google rating (3.3/5 from 300+ reviews). This may reflect Trustpilot's larger sample size and Tower's active presence on the platform, while Google reviews tend to attract more complaints from customers experiencing weather-event claim delays.
Common themes from 2,977+ reviews across Google and Trustpilot
Signed up online in minutes. The quoting tool showed me exactly what I would pay, no hidden surprises. The whole digital experience felt polished and modern.
Really helpful staff when I called about my policy. They explained the different tiers clearly and helped me choose the right level of cover without any pressure.
My claim after the Auckland flooding took months. I had to call repeatedly for updates and felt like I was being passed around between different people each time.
Switched to Tower and saved nearly $70 a year on my home insurance thanks to the risk-based pricing. Our property is low risk and the premium reflects that.
Small windscreen claim was accepted on the spot through the online portal. No paperwork, no hassle. This is how insurance should work.
Was charged twice for my premium and it took three weeks to sort out. Frustrating experience when it should have been a simple fix.
Reviews are paraphrased summaries of verified customer feedback. Theme percentages are based on our analysis of the most recent 500 reviews across all platforms as of March 2026.
Tower Insurance covers 10 of the 13 major insurance categories
Three levels of cover including EV insurance. Winner of Canstar Car Insurer of the Year in 2021 and 2022.
Three tiers of cover using risk-based pricing. Canstar Home & Contents Insurer of the Year 2024 and 2025.
Four tiers including a dedicated renters option. Covers personal belongings at home and on the go.
Dedicated renters tier within Tower's contents insurance, designed for tenants who need to cover personal belongings.
Dedicated landlord insurance covering rental property risks including tenant damage and loss of rent.
Cover for motorcycles and motorbikes, available online through tower.co.nz.
Cover for motorhomes, available through tower.co.nz with online quoting.
Cover for caravans and trailers through Tower's dedicated caravan insurance product.
Underwritten by Allianz Partners. Available for domestic and international travel.
Cover for cats and dogs, provided via Allianz Partners.
Cover for boats and watercraft. Available through tower.co.nz.
Business assets, interruption, liability, and commercial vehicle insurance for small and medium businesses.
The good and the not-so-good based on customer reviews and our analysis
How much does Tower car insurance cost? Indicative examples based on market analysis
Tower uses a risk-based pricing model that assesses individual property and driver risk rather than relying on broad averages. Factors include location, natural hazard likelihood, property type, build materials, and land gradient. For house and contents, Tower offers three tiers - Premium, Plus, and Standard - at different price points. Travel and pet insurance are underwritten by Allianz Partners with pricing set by Allianz.
Disclaimer: These are indicative estimates based on publicly reported customer experiences and market analysis as of March 2026. Your actual premium will depend on your individual risk profile, vehicle, location, and cover level. Always get a quote from Tower directly for accurate pricing.
Tower assesses earthquake, flood, sea surge, and landslide risk at an individual property level. Properties in lower-risk areas typically pay less.
Higher-value vehicles cost more to insure. SUVs and performance cars attract higher premiums than sedans.
A clean claims history generally results in lower premiums. Previous claims and their nature are factored into pricing.
For home insurance, build materials, land gradient, and property construction type all influence the premium.
Younger drivers and those with restricted licences typically pay higher premiums due to increased risk.
Choosing Standard vs Plus vs Premium tier, and selecting a higher excess, will affect your premium amount.
Tower Insurance vs. other popular NZ car insurers
| Feature | Tower | AA Insurance | AMI | State | Cove |
|---|---|---|---|---|---|
| Overall Rating | 4.0/5 2,977 reviews | 3.8/5 | 3.9/5 | 3.8/5 | 4.7/5 2,381 reviews |
| Trustpilot Score | 4.3/5 | 1.9/5 | N/A | N/A | 4.7/5 |
| Google Score | 3.3/5 | 4.2/5 | 4.0/5 | 3.8/5 | 4.6/5 |
| Financial Strength | A- (AM Best) | AA- (S&P) | AA (S&P) | AA (S&P) | A+ (S&P) |
| Car Insurance | ✅ | ✅ | ✅ | ✅ | ✅ |
| House & Contents | ✅ | ✅ | ✅ | ✅ | ❌ |
| Risk-Based Pricing | ✅ Industry-leading | ❌ | ❌ | ❌ | ❌ |
| Online Claims | ✅ My Tower | ✅ | ✅ | ✅ | ✅ App-based |
| NZ-Owned | ✅ NZX-listed | ❌ (Suncorp 68% / NZAA 32%) | ❌ (IAG) | ❌ (IAG) | ✅ |
| Product Categories | 10 of 13 | All 13 | 10 of 13 | 10 of 13 | 8 of 13 |
Disclaimer: Ratings are aggregated from Google, Trustpilot, and Canstar where available. Product availability and pricing may change. Always verify directly with the insurer. Data current as of March 2026.
Other NZ insurers worth considering, depending on your priorities
One of NZ's largest insurers covering all 13 product categories. Named NZ's Most Trusted General Insurer for 15 consecutive years.
A digital-first NZ insurance brand with high customer ratings and a streamlined app-based experience. Known for fast online quotes and competitive pricing.
Part of the IAG group, AMI is one of NZ's most established insurers with a nationwide branch network.
Another IAG brand with a long history in NZ. Offers a similar product range to AMI with a slightly different market positioning.
Tower Insurance may suit some customers more than others
Tower's risk-based pricing means homeowners in low earthquake, flood, and landslide risk areas could pay an average of $70/year less than with broad-average pricing models.
The My Tower self-service portal handles policy management, claims, and renewals online. Some straightforward claims are accepted on the spot, and online claims save an average of 5 minutes vs phone.
Tower is New Zealand's only Kiwi-owned and operated general insurer listed on the NZX. Public listing provides transparency through regular financial reporting.
Back-to-back Canstar Home & Contents Insurer of the Year awards (2024, 2025) and tiered policy options make Tower a strong contender in this category.
Compare.org.nz's editorial assessment of Tower Insurance
With origins dating back to 1869, an A- (Excellent) AM Best financial strength rating, and back-to-back Canstar Home & Contents Insurer of the Year awards, Tower has strong credentials. Its risk-based pricing model - assessing earthquake, flood, sea surge, and landslide risk at an individual property level - sets it apart from competitors using broad averages.
The 4.3/5 Trustpilot rating from 2,677+ reviews reflects a largely positive customer experience, particularly around online sign-up, policy management through the My Tower portal, and straightforward claims. However, the lower 3.3/5 Google rating and common complaints about slow handling of complex weather-event claims suggest room for improvement in claims consistency.
For customers in low-risk areas who value a digital-first experience and NZ ownership, Tower is a strong contender. Those in higher-risk areas or needing life, health, or classic car cover may want to compare with broader-range providers like AA Insurance or digital alternatives like Cove.
Common questions about Tower Insurance
How we research and rate insurance companies
This review is based on data collected from the following sources, last verified in March 2026:
Our editorial scores (out of 10) are calculated using a weighted methodology that considers:
Disclaimer: Nothing on this page constitutes financial advice. Scores are editorial opinion based on publicly available data. Always verify details directly with your insurer and consider seeking professional advice for your specific situation. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
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