Home insurance over 50s comparison

21st November 2018by Joanna White

One thing that you may not realise when it comes to home insurance, is that people over 50 can often find cheaper home insurance cover. This is because they’re statistically considered to be less likely to make a claim.

While it’s not always guaranteed to be the case, many home insurance providers often reward over 50s with regards to their policies, especially if they’ve been loyal for a long period of time.

In this guide, you’ll find out everything you need to know when it comes to home insurance for over 50s, including a detailed comparison of the best providers!

What you need to know

Below you’ll find a detailed list of everything you need to know when it comes to purchasing home insurance for over 50s.

What’s different?

When it comes to home insurance for over 50s, there are numerous factors that are different between the over 50s policies, and others.

It’s considered that people over the age of 50 are likely to have a greater collection of valuable items in their home as they will have collected many valuable things over their lifetime.

Benefits offered

The varying policies offered to people over 50 also often come with a number of benefits.

  • Higher maximum buildings cover
  • Rewarded for “low-risk” status
  • Higher contents cover
  • “New for old” policies for replacing damaged or stolen goods
  • Discounts on approved home security systems
  • Greater protection for unoccupied home insurance

As you can see, home insurance for over 50s often comes with many benefits and bonuses; you can rest-assured that if you take out an over 50s insurance policy, you’ll be well covered.

Types of insurance

The two main types of insurance you need for your home are contents and buildings insurance. Both cover you for slightly different things but they’re both as equally important for your home.

Buildings insurance

If you have a mortgage on your home, whether it be a house or an apartment and regardless of your age, it is a legal requirement to have buildings insurance.

Buildings insurance protects the structure of your home, as well as the fittings and fixtures against damage such as flooding, fires and burst pipes.

Contents insurance

This is similar to buildings insurance but instead of protecting you against the fixtures and fittings of your home, it allows you to make a claim for the damages caused to the likes of furniture, televisions and valuables caused by flooding or fires, for example.

Many insurers will often reward customers such as those over the age of 50 if they take out both buildings and contents insurance on a joint policy. This is yet another benefit that over 50s can expect from obtaining home insurance.

Be wary

While it’s not a given fact, a number of home owners over the age of 50 may have larger houses with a great number of valuable items in them.

If this is the case, it’s incredibly important not to underestimate the value of your property and possessions; you should ensure you go around every room in your house and count up the cost of your items.

This is so you know how much you’ll require from your home insurance provider should your home be damaged. Everything from your carpets to your jewellery to your clothes should all be accounted for; remember to give an accurate as possible figure so that you can rest-assured that you’ll be fully covered.

Best home insurance over 50s providers

Home insurance may seem like it would be pretty much the same from every provider, but this is certainly not the case; many providers offer varying policies for over 50s. Here are some of the best providers in the industry.

Provider

Maximum buildings cover

Maximum contents cover

Cover per valuable

Saga

·         £1 million ·         £100,000 ·         Up to £2,500

RIAS

·         £1 million ·         £50,000 ·         N/A

Post Office

·         £1 million ·         £99,000 ·         £1,500-£10,000

Age Co (Age UK)

·         £500,000 ·         £100,000 ·         Up to £2,000

Sun Life

·         £1 million ·         £50,000 ·         £1,500

 

Saga

Saga are one of the leading specialists in home insurance for over 50s.

Defaqto star rated

As a Defaqto star rated provider, you can rest-assured that you’ll only be getting the best quality service from Saga home insurance.

Great range of features

Saga also offer a great range of features such as excellent buildings and contents cover as well as new for old replacement.

Rias

Rias home insurance provide excellent quality cover for people over 50.

Accidental damage cover

One of the great things about Rias is that they provide accidental damage cover for the likes of computers, laptops and TVs.

24/7 service

They also have a team of dedicated specialists on hand 24/7 to help you out if you need to make a claim.

Post Office

The Post Office over 50s home insurance policies offer incredible discounts, features and benefits.

Beat your renewal price

One of the ways that the Post Office excels in the home insurance industry is that they guarantee to beat your renewal price by at least £50!

Unlimited alternative accommodation

You can also enjoy the use of unlimited alternative accommodation should an unexpected accident or incidence occur at your home.

Age Co

Age Co offer home insurance with over 50s specifically in mind so you can rest-assured that you’ll receive excellent policies from them.

24 hour helpline

Should you require legal advice or help at any time of the day, Age Co will be available 24/7.

Incredibly low standard excess

When you take out an over 50s home insurance policy with Age Co, you can be assured that you’ll have a low standard excess of just £45!

Sun Life

Sun Life are one of the leading providers in the business for home insurance for over 50s.

Excellent maximum buildings cover

With Sun Life, you’ll enjoy an extortionate maximum limit of £1 million which is good news if your home is worth a lot of money!

Save 25%

Sun Life give you an incredible 25% discount when you buy your home insurance policy online!

Conclusion – home insurance for over 50s

There are a lot of things to consider and think about when taking out your over 50s home insurance plan. It’s important to remember all the necessary details such as how much your home and its contents are worth.

You may also get slightly overwhelmed with all the home insurance providers available to you, so it’s a good idea to be well informed to make the right decision for you and your home. Your over 50s home insurance policy should be uniquely tailored to your home and everything that it needs to cover.

Compare many home insurance quotes by using Quotezone home insurance. We have also found that M&S Home Insurance offers competitive prices for those over 50.