Tower Jet Ski Insurance vs a Specialist Broker
Tower Insurance — Jet Ski Cover
tower.co.nz/boat-insurance/
Phone: 0800 379 372 · Catamarans: 0800 006 386
Source: tower.co.nz/boat-insurance/, verified August 2026. Confirm current terms with Tower before purchasing.
The key question: market value vs agreed value
Tower settles total loss claims at market value or sum insured — whichever is less. This means if your jet ski has depreciated since you bought it, you receive what it is worth on the second-hand market today, not what you insured it for.
Example:
You insure a 3-year-old Sea-Doo GTX for $18,000. At the time of a total-loss claim, the market value is $13,500. Under a market value policy, Tower pays $13,500 — not $18,000. Under an agreed value policy from a specialist broker, the agreed $18,000 would be paid in full.
When Tower direct cover works well
A Yamaha WaveRunner, Sea-Doo, or Kawasaki used for weekend riding — market value and agreed value are closest when the craft is newer.
Tower's online quoting tool is fast and straightforward — no broker appointment needed for a standard craft.
If you're already a Tower customer, consolidating car or home with boat insurance may have loyalty or pricing benefits.
When a specialist broker does better
Agreed value settlement
You receive exactly what your craft is insured for — no market value depreciation at claim time.
Multiple underwriter comparison
A broker shops across several specialist marine markets simultaneously, not just one insurer.
Modified or non-standard craft
Tower asks you to call for custom/modified boats. A specialist broker is set up to properly underwrite these.
Commercial use cover
Tower explicitly excludes commercial or business use. Brokers can access markets that cover hire fleets and commercial operators.
Higher liability limits
Specialist marine policies often offer liability cover well above Tower's $5M standard limit.
Claims advocacy
A broker works on your behalf at claim time — not the insurer's.
Compare the market
A specialist marine broker can quote across Tower and other marine underwriters simultaneously — including agreed value options Tower doesn't offer. No cost, no obligation.
Frequently Asked Questions
Does Tower Insurance cover jet skis?
Yes. Tower's Boat Insurance product covers personal watercraft including jet skis, PWC, and pole skis. You can get an online quote through Tower's website at tower.co.nz/boat-insurance/ or by calling 0800 379 372.
Does Tower pay agreed value or market value for jet skis?
Tower pays market value — the current market value of your craft, or the sum insured, whichever is less. This is a material difference from agreed value cover, where you agree a fixed payout amount upfront that is paid in full if the craft is written off. Market value policies can result in significantly smaller payouts on older or depreciated craft.
What is the Tower boat insurance phone number?
The main Tower Insurance line is 0800 379 372. For catamaran enquiries, call 0800 006 386. For general jet ski and PWC cover, the main line handles quotes and claims.
Does Tower cover modified jet skis?
Tower's online quoting process is designed for standard recreational craft. For custom or modified jet skis, Tower advises calling rather than quoting online. A specialist broker may be better positioned to properly underwrite a modified PWC, particularly if the modification materially affects performance or risk.
What does Tower's new-for-old replacement cover?
If your jet ski is written off within 3 years of being new and you have insured it with Tower from new, Tower may replace it with an equivalent new model rather than a market-value payout. For motors, Tower covers replacement at purchase value for up to 5 years. After these periods, settlement reverts to market value.
Can I cover my jet ski trailer with Tower?
Yes, Tower offers an optional trailer add-on to their boat insurance. This can be added when you get your quote online. Alternatively, a specialist broker policy will often bundle trailer cover as a standard or structured optional component.
Want Agreed Value Cover?
Tower is a solid option for standard recreational riders. For agreed value settlement, modified craft, or commercial use — talk to a specialist marine broker.
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