21 May, 2025: Tower has won its third consecutive Canstar Home & Contents Insurer of the Year Award, for consistently delivering outstanding value and customer satisfaction.
For this year’s award, Canstar’s expert panel researched 14 home and contents insurance products from 11 providers. Each policy was assessed across 30 nationwide property addresses, to ensure a comprehensive comparison.
Awarding Tower its Insurer of the Year Award, our expert panel noted that while average policy prices increased 3.5% year-on-year across its research, Tower recorded significant reductions in its average premiums across all three of its home and contents insurance products.
The reductions come on the back of Tower switching fully to address-level, risk-based pricing earlier this year. The new pricing model’s high-tech approach to risk assessment won Tower a Canstar 2026 Innovation Award. (ref. https://www.canstar.co.nz/star-rating-reports/innovation-excellence-awards-2026/#tower )
Canstar NZ editor, Bruce Pitchers, says: “Over the past two years, the insurance industry has experienced a rigorous process of repricing, regulatory tightening and technological acceleration.
“Tower’s wins over this period display the insurer’s continued dedication to delivering its customers the best levels of cover alongside market-leading pricing.
“The hat-trick is a real feather in Tower’s cap and sends a clear signal to Kiwi homeowners of where to go for the best value insurance.”
Paul Johnston, Tower Chief Executive, says it’s pleasing to be named Canstar’s Home and Contents Insurer of the Year for the third year in a row: “Alongside our continued customer growth, this recognition shows that Kiwis appreciate our focus on making insurance simpler and easier. Our risk-based pricing approach is enabling us to offer more competitive, personalised pricing.
“We know the cost of living remains front of mind for many New Zealanders, and affordable, accessible insurance is critical to giving people peace of mind if the unexpected happens. We’ve worked hard to deliver value by pricing for the specific risks of each property, and by offering three levels of comprehensive cover, with the flexibility to add additional benefits.
“As a Kiwi insurer, we’re incredibly proud to bring this award home once again. It reflects the dedication of our Tower team, who work hard every day to support New Zealanders, and the trust of our customers who choose us. They’re the reason we do what we do.”
Outstanding Value Home & Contents Insurance Awards
While our Insurer of the Year Award takes into consideration consumer feedback from thousands of Kiwi homeowners, Canstar’s Outstanding Value Awards are based purely on policy price vs cover level.
In addition to Tower, this year, three insurance companies have won Canstar Outstanding Value Home & Contents Insurance Awards:
TradeMe
TradeMe, which is a white label of Tower, retains its award for delivering an outstanding value insurance product that combines competitive pricing with great policy features.
AMI & State
For the second year in a row, AMI & State each earn an Outstanding Value Award. Each brand’s home and contents policy is underwritten by IAG and offers a balanced combination of features and premiums.
For the full details of Canstar’s 2026 Home & Contents Insurance Awards click here: https://www.canstar.co.nz/home-contents-insurance/awards/