Tower Towers High with Youi Insurance NZ Acquisition

Date Jul 14, 2020
Blog category Car Insurance
By Michael Speight
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A car purchase is a decision that involves lots of research and window-shopping to ensure that you get the specs that you want. What comes after this purchase, though, is making sure that it is secure when it finally hits the road.  With its recent acquisition of Youi Insurance New Zealand, Tower Insurance Limited is fueled more than ever to secure the cars of Kiwis embarking on their journeys. The purchase of Youi means the transfer of 34,000 policies to Tower, as well as an estimated $24 million gross written premiums, 64% of which comes from car insurance policies. For Glimp, on the other hand, this means that consumers can have more options as they can now compare Tower with other car insurance policies and find out what’s best suited for them.

Youi car insurance consumers need not to worry

As assured with the transfer of Youi, Tower will contact existing customers four weeks before their contract expires. This is to present policies and other information before they can decide whether to renew their contract with Tower.

Existing Youi consumers remain under the contract

Further addressing the worries of consumers, Tower guarantees existing consumers of Youi NZ that they will remain under the same contract for its remainder. They do not need to take any action like manually transferring their contracts as proper turnover was commenced.

Youi consumers can still change their policies

Remaining under similar contract means that Youi NZ consumers can freely change their policies and lodge claims. They can do so by contacting the phone numbers indicated in their current contract documents. From an affordable and secured to an all-around insurance that covers all situations, Tower has everything lined up for its consumers, and now, for the consumers of Youi too. Secure your journeys first before taking your car through New Zealand. Check the best Tower car insurance that matches you and your needs. Get a tailored quote from Tower and face it head-to-head with the best car insurance policies in New Zealand using Glimp. Contact us to find out more.

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