But when her latest insurance premium came from Tower Insurance she said there was a $200 extra on the bill because she lived in a flood-prone area. Mrs Gillan said she too was very much surprised when her latest house premiums arrived and it had increased by so much. For flood risk ratings and associated premiums, Tower used the Moody’s New Zealand Inland Flood HD model. "Our risk-based pricing approach means premiums reflect individual risks and customers with higher risks are likely seeing premium increases." He said there were things Tower could do to reduce premiums, so people should get in touch to discuss their insurance.

Source: Otago Daily Times February 15, 2026 15:36 UTC