New year, new (insurance) review

There’s no better time to review your life admin than the new year! Our general insurance partner, Tower, has put together a helpful insurance review checklist, so you can make sure your insurance still meets your needs. Plus, you might even be able to save some money!

☑ Are your details up to date?

☑ Have you checked your house or contents sum insured recently? 

It’s really important that you regularly review your sum insured, particularly for your house and contents insurance. When you buy a new sofa or TV, or upgrade your kitchen with a new, high-spec one, it will cost more to replace come claim time, so you’ll need to make sure your sum insured is high enough to cover this. The last thing you want is to end up under insured if something terrible happens. If you have a high-spec home, you can get a professional valuation done by a quantity surveyor.

☑ Have your circumstances changed? 

Have you added a new furry friend to the family recently? Or finally get around to replacing your car? Life moves fast, so it’s important that as your circumstances change, you make sure you review and update your insurance. 

Whether it’s adding pet insurance or updating your car insurance now that you’ve replaced it. It pays to make sure you’ve got the right cover. 

☑ Is your excess right? 

Your excess is the portion of the insurance claim that you’re responsible for paying. You can reduce your premium by choosing a higher excess. This means you’ll pay more at claim time, but you’ll pay less day-to-day. It’s worth looking at the excess you set when you bought the policy, you may find you can afford to increase it. Just be sure when choosing an excess that it’s an amount you can easily afford to pay if you need to claim.

☑ Have you made your updates in My Tower?

It’s easy to update your sum insured or excess, add or remove optional benefits, change your payment method, and more, online in My Tower. If you’ve not signed up yet, it’s easy to register online. Remember, the most important thing is making sure you have the cover you need when you need it.

☑ Have you made the most of the discounts available?

Thanks to our general insurance partner Tower, our members can get up to 10% off of house and contents insurance!*

Plus, the more policies you have with Tower, the more you could save with their multi-policy discount. It’s worth checking if you have insurance elsewhere and moving it to Tower if you can.

(*) Terms and Conditions apply to HealthCarePlus Member-only offer. Read Tower Ts&Cs here.

Written by: Tower

Born and bred in New Zealand, Tower has been helping Kiwis when they need it most for more than 150 years. Read more.