TWR - Tower Insurance

[Left Field]

Tower showing some good strength of late.   Those dividends are so delicious. 

Nice to see TWR SP climbing again after recent cyclone fears.

Happy holder.

[Left Field]

A reminder of how the recent Cyclone event is BAU for TWR and why I remain a holder.

I live in a coastal village, my house is on a hill 100 metres above the beachside township and is insured with TWR.

Last week, a friend sought to insure a property on the town's main street some 200 metres from the beach. The property's LIM report notes it is located in possible EQ liquification and potential sea level rise flood zones.

In responding to his request for house insurance and after entering the property's address,  the TWR web site quickly informed them: "We're sorry...the details you've given mean that we're currently unable to offer you cover."

[Basil]

Address specific risk measurement is also a fabulous tool to use when looking to buy a property.  If Tower won't cover it, there's almost certainly a very good reason not to buy it.  Just go online with Tower and enter the property address and bingo, Tower says you should keep it on your watchlist or delete it.  Very handy.  Disc: Happy Tower holder.

[Shareguy]

A reminder of how the recent Cyclone event is BAU for TWR and why I remain a holder.

I live in a coastal village, my house is on a hill 100 metres above the beachside township and is insured with TWR.

Last week, a friend sought to insure a property on the town's main street some 200 metres from the beach. The property's LIM report notes it is located in possible EQ liquification and potential sea level rise flood zones.

In responding to his request for house insurance and after entering the property's address,  the TWR web site quickly informed them: "We're sorry...the details you've given mean that we're currently unable to offer you cover."

We also have a holiday home in Coastal town that Tower won't cover. We have never had any issues or made a claim. Others I contacted do Insure our property including Initio.

https://initio.co.nz/?gad_source=1&gad_campaignid=964517484&gclid=Cj0KCQjwkYLPBhC3ARIsAIyHi3SiG-UJSCMiTVhBu570hseqrjOYgljkv1UWjjwM_g21XaL7uGy8FFYaAgR2EALw_wcB

[mike2023]

I've just insured a post quake house in north Canterbury with tower. 30% higher premium than a bigger more expensive property I had in Hamilton. But still cheaper than the competition by give or take 10%.

[BlackPeter]

Interesting to compare Tower with other health insureres in the recent consumer survey. According to the article:

"It's parent company, Tower, performed poorly though, coming last for contents insurance, and towards the bottom of the pack for house insurance."

More info (as well about the better performers - no, not Tower) - and table under

https://www.consumer.org.nz/articles/best-and-worst-insurance-providers 

 (paywalled - but I guess the annual subscription for the Consumer is well worthwhile).


.. and by the way - in the various examples is Tower not even in the lower premium range - dear and unloved!

So - absolutely, if you want to get an unloved insurance ... by all way - include Tower. Just make sure, that you never need them!

If you might however need an  insurance from time to time, it might be worthwhile to consider one of the (often cheaper) competitors with a higher customer satisfaction rating.

[winner (n)]

From the Consumer page PeterH made this comment - need to pay to see what the reply was -

I am curious. How do you reconcile the fact Canstar rate Tower very highly yet Consumer rate it in the lower half of their ratings?