Compare over 50s home insurance deals
If you’re over 50, you may already benefit from cheaper car insurance. But it could mean getting deals on your home insurance too.
Find out why age can be an advantage when it comes to paying less for your policy.
If you’re over 50, you may already benefit from cheaper car insurance. But it could mean getting deals on your home insurance too.
Find out why age can be an advantage when it comes to paying less for your policy.
Is home insurance cheaper if you’re over 50?
Home insurance can be cheaper for over 50s. In general, this is because insurance providers consider older people to be lower risk as they’re less likely to make a claim. And when they do claim, it’s often for smaller amounts.
There’s a few reasons why you may find your policy is cheaper if you’re over 50:
- People in their 50s and 60s have often been homeowners for years, so tend to know more about home maintenance and how to prevent mishaps like burst pipes, which can lead to expensive claims.
- We tend to be more security conscious as we get older. According to an Office for National Statistics (ONS) survey, older homeowners are less likely to be burgled than younger adults. They may also take a more proactive approach to home security. Burglar alarms are among popular measures, as are Neighbourhood Watch Schemes.
- Older homeowners have usually had home insurance in place for longer and may have claimed in the past. That means they’re likely to check what their home insurance covers and more accurately calculate the value of their possessions.
According to government figures, more than 380,000 over 50s gave up work following the pandemic, and many more are now working from home. As a result, they’re less likely to be burgled during the day.
Benefits of over 50s home insurance
If you’re over 50, you can benefit from more than just lower insurance premiums. You can also enjoy:
- Access to products and discounts from specialist over-50 insurance providers, such as Saga
- Higher levels of contents insurance cover
- A higher maximum limit for buildings insurance cover
- Discounts on home security systems
- Extended cover if your house is empty – some insurance providers will cover an unoccupied home for six weeks or more for over-50s policyholders
- Cover for mobility aids such as a scooter, electric wheelchair or chairlift.
Always check any policy carefully before buying, as each insurance provider offers different benefits.
How can I get cheaper over 50s home insurance?
There are several ways to cut the cost of your over 50 home insurance. These include:
- Improving your home’s security
- Increasing the excess you pay if you make a claim
- Paying annually instead of monthly
- Buying your buildings and contents insurance from the same provider – some providers offer a discount if you get both.
For more tips, read our guide on how to save money on your home insurance.
Bear in mind, however, that the cheapest over 50 home insurance policy isn’t always the right one for you. It’s important to make sure the policy has all the features and cover you need.
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?
You should find that 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 may need to arrange separate contents insurance to make sure your personal belongings are covered. You should check whether the retirement home offers any contents cover before you move in.
Do I need over 50s home insurance?
You don’t have to switch to over 50s home insurance when 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 if I’m older? Do I need over 60s home insurance?
Looking for home insurance for over 60s? As with over 50s home insurance, you could find you’re eligible for cheaper deals because insurance providers see you as less of a risk. You may also qualify for policies from specialist providers.
That said, how much you pay for your policy will depend on many factors, not least the size of your house and where you live.
What extra cover can I add to over 50s home insurance?
If you’re buying over 50 home insurance, here are some extras it’s worth looking out for. You may find they’re included as standard or available as an add-on for an extra fee:
- Home emergency cover: covers the cost of urgent repairs. For example, if your boiler breaks down in the middle of winter.
- Accidental damage cover: offers cover if you spill red wine on a carpet or smash a valuable vase, for example.
- Legal expenses cover: to cover your costs if you need legal advice for a range of common disputes or for claims that are made against you.
- Home working cover: if you work from home, check with your insurance provider to make sure you’re fully covered.
How do I compare over 50s home insurance?
To compare home insurance quotes with us, we’ll need to know:
- Some details about you and your home, including where you live and when your home was built.
- If your home is listed or has any special features, like a thatched roof.
- Details of your home’s security, including 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.
- The estimated value of your home’s contents, as well as details of any high-value items that must be listed separately 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 so you get a policy that suits your needs.
When you’re ready to go, we’re here to help you find the right deal.
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Anna McEntee - Insurance comparison expert
Anna’s all about delivering fantastic insurance products at a great price. Value is the most important thing for Anna, as she cuts through the jargon and finds what’s most important and worth your hard-earned money.
Rebecca Goodman - Insurance expert
Rebecca Goodman is a freelance financial journalist who specialises in insurance, personal finance and consumer affairs. Rebecca regularly writes for national newspapers including The Independent and The Mail on Sunday on a wide-range of financial topics. She covers everything from money-saving tips and holiday advice to investigations into how energy efficient appliances can cut the cost of household bills and the impact donating money can have on those in need. Along with features in national papers, Rebecca also writes news stories for websites including Yourmoney.com and The Money Edit.