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Compare over 50s home insurance deals

Compare over 50s home insurance deals

If you’re over 50, you may already be benefitting from cheaper car insurance. But it’s possible to find great deals on your home insurance too. 

Our guide toover 50s home insurance explains why age can be an advantage when it comes togetting a great deal on your home insurance policy. 

Chris King
From the Home team
3
minute read
posted 20 FEBRUARY 2020

Is over 50s home insurance cheaper?

Home insurance for over 50s can be cheaper as insurance providers generally consider people of that age to be a lower risk as they’re less likely to make a claim. And when they do claim, it’s often for small amounts.  

Statistically, those who are older tend to be more honest when they’re making a claim. 

Your premium cost will, of course, be based on your personal circumstances, such as where you live. But providers may look favourably on you if you’re over 50 for the following reasons:

  • People in their 50s and 60s have often been homeowners for years, so they typically have more practical knowledge of home maintenance. Upkeep, such as preventing frozen pipes in winter, can save insurance providers an average of £8,800 per claim, according to the Association of British Insurers (ABI).
  • We tend to be more security-conscious as we get older. According to arecent Office for National Statistics (ONS) survey, older homeowners take a more proactive approach to home security.Burglar alarms are one of the most popular measures, as are Neighbourhood Watch Schemes.

  • According to the ONS survey, 94% of older homeowners ‘know exactly what their home insurance covers’. So they’re more likely to be accurate when calculating the value of their possessions.  

Benefits of over 50s home insurance

As well as potentially lower premiums, if you’re over 50 you could also expect to benefit from:

  • access to products and discounts from specialist over 50s insurance providers, such as RIAS and Saga
  • higher levels of contents insurance cover
  • a higher maximum limit for buildings insurance cover
  • discounts for installing security features
  • extended cover for an empty house - some insurance providers will cover an empty home for six weeks or more, for over 50s policy holders.

Each insurance provider will offer different terms, so it’s important to check the policy details carefully before buying. And bear in mind that the cheapest home insurance isn’t always the right one for you. It’s important to make sure your policy has all the features and cover you need.

Check out our guide on how to save money on your home insurance, for more tips on reducing the cost of your premium.

Where can I compare home insurance deals for over 50s?

Our comparison service can help you find a great deal on your over 50s home insurance. Compare home insurance with us today and see if you can save. 

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