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 deals on your home insurance too. 

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

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

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

Rebecca Goodman
Insurance expert
3
minute read
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Posted 3 AUGUST 2021 Last Updated 18 MARCH 2022

Is over 50s home insurance cheaper?

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

Your premium cost will, of course, be based on your personal circumstances, like where you live and the kind of home you have. But you may find your premium is cheaper 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 and more time to keep on top of it, such as by preventing mishaps like burst pipes that can lead to expensive claims.  
  • We tend to be more security-conscious as we get older. According to a recent Office for National Statistics (ONS) survey, older homeowners are less likely to be the victims of home burglary than younger adults. They may also tend to take a more proactive approach to home security. Burglar alarms are one of the most popular measures, as are Neighbourhood Watch Schemes.
  • ● Older homeowners are likely to have had home insurance in place for longer and may have had to claim in the past. As a result, they’re likely to be more careful about checking what their home insurance covers, and more accurate when calculating the value of their possessions.  

Around 50 is when you might start to think about working less or stop completely. By not having to leave the house as much to go to work – and saying goodbye to a daily commute – you’ll also be at home more, which insurance providers like as it puts you at a lower risk of being burgled.

Benefits of over 50s home insurance

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

  • Access to products and discounts from specialist over 50s insurance providers, such as Saga 
  • Higher levels of contents insurance cover
  • A higher maximum limit for buildings insurance cover
  • Potential discounts for installing home security systems
  • Extended cover for an empty house -some insurance providers will cover an unoccupied home for six weeks or more for over 50s policy holders, but age may make no difference for other providers. 
  • Cover for mobility aids you may need as you get older, such as a mobility scooter, electric wheelchair or chairlift. 

Each insurance provider will offer different terms, so it’s important to check the policy details carefully before buying. 

If you’re renewing your home insurance and you’ve found a policy you like at the right price, you might as well see what other freebies or discounts you can get. While these are obviously not a reason to switch, they can be a real benefit and can leave you with more money to spend on that next holiday, or whatever else you’ve been planning. 

But bear in mind that the cheapest home insurance policy isn’t always the right one for you. It’s important to make sure your policy has all the features and cover you need. Even if it looks like a steal, if the policy’s not right, or you can’t claim on it, it won’t be worth anything and it could leave you with a big bill if you’re left to pay the costs of a claim yourself.

Obviously there are other factors in play when it comes to the cost of your home insurance. This includes where you live, the type of house you have and your claims history. However, there are also lots of ways to cut the cost of your bill. These include:

  • Improving your home’s security systems
  • Increasing the excess you pay if you make a claim
  • Paying annually instead of monthly 
  • Getting both your buildings and contents insurance from the same provider – some providers offer a discount if you get both. It can also reduce admin if you need to make a claim that involves both buildings and contents.

For more tips on reducing the cost of your premium, check out our guide on how to save money on your home insurance

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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Frequently asked questions

Will I need home insurance if I move into a retirement home?

There are two main types of home insurance, although they’re often packaged together. If you move into a retirement home, you’ll normally find that the buildings insurance, which covers the structure of the building, is covered by the retirement home. You’ll usually see some of the costs transferred to you as part of your management or service fees.   
 
You should check what’s included before you move in. You may need to arrange separate contents insurance to make sure your personal belongings are covered.  

Do I need over 50s home insurance?

You don’t have to switch to over 50s home insurance as soon as you hit your golden jubilee year, but there’s no downside to taking a look at what’s out there. As an older, and therefore statistically wiser, homeowner, you can compare a wider range of home insurance policies, including those aimed specifically at your age group. And you could save money on your insurance premium. 

What extra cover is available to add on to over 50s home insurance?

Here’s what extras to look out for. They may be included as standard in a policy or available as an ‘add on’ for a fee: 

  • Away from home cover: if you’re planning on making the most of your retirement by exploring the world, check how long your home insurance will cover you for while you’re away. You might need to purchase extra cover.  
  • Home emergency cover: to make sure you can get help fast when it’s needed, for example if your boiler breaks down in the middle of winter.  
  • Accidental damage cover: to protect your possessions inside the home, in case you break or damage them. 
  • Legal expenses cover: to pay for legal fees if you need a lawyer.  
  • Home working cover: if you intend to continue to work from home after COVID restrictions lift, you should contact your insurance provider to make sure you’re covered.  

Read our guide to how the coronavirus pandemic has affected insurance

How do I compare over 50s home insurance?

To compare home insurance quotes with us, we’ll need to know: 

  • Some personal details about you and your home, including where you live and when your home was built. 
  • If your home is listed, or has any specialist features, such as a thatched roof. 
  • Details of your home’s security, such as what locks and alarms you have in place. 
  • How much it would cost to rebuild your home from scratch – read our guide to calculating the rebuild cost if you’re not sure. 
  • An accurate estimate of the value of your home’s contents and any high-value items that need to be listed individually on your policy.  

Make sure you’re as accurate as possible when calculating the rebuild cost of your home and the value of your possessions to make sure you get a policy that suits your individual needs.  
 
When you’re ready to go, we’re here to help you find the right deal. 

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