Direct insurer
Tower
The kiwi-owned challenger. Risk-based pricing was their pitch — your postcode and driving history, not industry averages.
- Distribution
- Direct insurer
- Years in NZ
- Since 1869
- Cover types offered
- 3
- Region availability
- Nationwide, with postcode loadings
- Indicative premium
- $70–$135/mo for comprehensive in low-risk regional postcodes
Editorial
What Tower is, in plain English
Tower is the New Zealand-listed insurer that pushed risk-based pricing into the mainstream NZ conversation. The claim is that your premium reflects your specific risk — your postcode, your car, your driving record — rather than a broad industry average. In practice, that means they're often very competitive for low-risk drivers in low-risk postcodes, and noticeably uncompetitive in flood-prone or high-theft suburbs. Worth a quote, especially if you're outside Auckland.
Good at
- Risk-based pricing rewards good driving history
- Strong in regional NZ where they often beat the nationals
- Transparent about postcode loadings — no surprises at renewal
Not so good at
- Significantly more expensive in flood-prone or high-theft postcodes
- Customer service has been mixed since the 2023 weather events
Cover types Tower offers
The shapes of cover available, in order of premium.
Comprehensive cover
$70–$160/mo on a 2018-ish hatch, mid-30s driver, mid-loading regionThe full one. Pays for damage to your car, their car, and almost everything else. Highest premium, broadest cover.
Third-party property
$25–$70/mo on a typical carThe minimum. Pays for damage to other people's cars and property if you cause a crash. Nothing else.
Third-party fire & theft
$45–$110/mo on a typical carPays for damage to other cars, plus theft and fire of yours. Doesn't pay for crashes you cause to your own car.