Wondering if travel insurance is really necessary? What if you’re only planning to head to Australia? It’s not so far from New Zealand and the shared Commonwealth healthcare benefits should be enough, right?
Did you know that in 2019, Kiwis travelling to Australia claimed back an average of $1036 through their insurers? Most of these claims were related to medical reasons and this is despite reciprocal healthcare being in place.¹
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It’s easy to imagine how much higher those out-of-pocket costs could be in other destinations without reciprocal care. This is why travel insurance is so highly recommended – no matter where you’re headed.
In this guide, we’ll take a look at New Zealand-based insurer Tower. Delving into their offerings, types of coverage, benefits, claims process and more, we’ve got the answers you need to decide whether Tower is the best fit for your needs while travelling.
A fixture in the New Zealand and Pacific insurance industry, Tower has been helping their customers protect themselves and their possessions for over 150 years. ²
Offering a range of different insurance products, Tower travel insurance is specifically tailored to meet the needs of Kiwis travelling overseas.
Tower offers three main insurance packages to choose from with variations in coverage, limits and cost.³
Offering reduced cover for travellers seeking only the basics, this option provides coverage on essentials such as medical and dental but with lower claim limits.
Providing coverage across a wide range of scenarios, the comprehensive plan offers unlimited medical care as well as higher claim limits for most benefits.
Intended for those who travel back and forth from New Zealand regularly, this policy offers comprehensive cover for multiple trips, not exceeding 60 days each time, for a period of 12 months.
All policies provided through Tower Insurance are also underwritten by Tower.⁴
It is worth noting, however, that while they underwrite their policies they are an Allianz Worldwide Partner. This partnership sees Allianz handling all travel insurance services and claims support including the 24/7 emergency support benefit.⁵
Unsure if Tower is a good fit for your needs? Here are some key benefits you can expect as a policyholder.⁶
Compared below are the key benefits and claim limits associated with Tower’s three core travel insurance products.³
| Prices in NZD | Essentials Plan | Comprehensive Plan | Frequent Flyer Plan |
|---|---|---|---|
| Maximum policy duration | 12 months | 12 months | 12 months |
| Medical | $250,000 | Unlimited | Unlimited |
| Emergency dental | $500 | $3000 | $3000 |
| Cancellation or changes pre-departure | $5000 | Unlimited | Unlimited |
| Travel delay | $500 | $15,000 | $15,000 |
| Baggage and personal items | $5000 | $30,000 | $30,000 |
| Travel documents | $500 | $3000 | $3000 |
| Personal liability | $500,000 | $2,500,000 | $2,500,000 |
| Rental vehicle excess | $1000 | $6000 | $6000 |
As seen on 20 October 2023
As Tower travel insurance is tailored to your specific travel needs, there is no set price quoted per policy.
Tower advertise their Comprehensive plans starting from NZ $30 and Essentials cover from NZ $22.⁸
However, keep in mind that your travel duration, destination, activities and pre-existing health conditions, if any, will all need to be factored in to determine your final premium.
As with most insurers, not everything is covered while travelling, Tower will not cover claims arising from.⁹
This list is by no means exhaustive so be sure to check out your policy’s specific exclusions contained in the product disclosure statement to ensure you are covered as expected.
As with most insurers in New Zealand, to be eligible for coverage you are usually required to meet the following basic criteria.
Currently this eligibility criteria is not clearly outlined in Tower’s International Travel policy wording. Should you have concerns regarding eligibility please contact Tower directly for guidance.
To find out what a policy with Tower will cost or to purchase a policy, you can use their online quote portal.
Once you have input all details related to your trip and if you are happy with the price quoted, you can then choose to purchase the policy via the same portal.
Confirmation will be sent to your nominated email along with the product disclosure statement and any other important documents.
Remember, if you have disclosures to make, such as those related to pre-existing health conditions, it is best to speak with a Tower representative before proceeding to purchase.
Travel insurance claims through Tower can be easily submitted online via their dedicated claims portal. Simply submit, wait for your claim to be assessed and you’ll be advised of the outcome as quickly as possible. ¹²
Before beginning a claim, they request that you have at hand documentation to support your claim including:
Be mindful that most insurers require you to claim within a limited timeframe following the event, this is usually outlined in your insurer's product disclosure statement.
Tower international travel insurance offers selected coverage for COVID-19 including benefits related to:
They do not cover costs incurred from a disinclination to travel due to fear or change of mind related to COVID-19.
Additionally, should you choose to travel against advice provided by the New Zealand government concerning COVID-19, cover will also be unavailable for any claims relating to this. ¹³
Before deciding if Tower is the right insurer for you, be sure to consider:
Whether you want to speak with Tower in advance of purchasing a policy, post purchase or in case of Emergency, here’s the numbers you’ll need.¹⁴
In New Zealand:
From overseas:
Alternatively, you can email their customer care team at help@allianz-assistance.co.nz
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Sources:
Sources checked on: 20 October 2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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