Compare Over 50s Home Insurance Providers

Explore the best over 50s home insurance providers to protect your home.

Updated: July 15, 2024
Matt Crabtree

Written By

Matt Crabtree

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If you are an older homeowner over 50, you may be looking for ways to protect the structure and contents of your home without spending a fortune each year. 

You'll want to keep your belongings protected and money in your pocket, but you might be unsure which options are available. One method to solve this is to consider over 50s home insurance providers that can tailor a policy to your specific requirements.

As with all insurance policy decisions, such as car insurance, comparing providers is worthwhile. It can inform you which provider is best for you. So, what are the best over 50s home insurance providers available to you?

We tried out several policies and gathered our direct reviews and experiences. Consider the list in this article to determine the best policies' key features.

ProviderScoreDetails
1. Saga★★★★★Click Here
2. LV★★★★★Click Here
3. Rias★★★★★Click Here
4. Age Co★★★★Click Here
5. TSB★★★★Click Here

What Is Over 50s Home Insurance?

Over 50s home insurance is a home policy cover that providers tailor to individuals over the age of 50.

It is often cheaper than standard home insurance for a few reasons. You're viewed as a lower risk to insurers, who consider that you might be less likely to make a claim.

This insurance type can cover two important factors. You'll receive buildings cover for your home’s structure, plus contents cover for your belongings. It can give you the peace of mind that you're protected despite the potential damage your home experiences.

What Are the Pros and Cons of Over 50s Home Insurance?

A few pros and cons apply to over 50s home insurance.

Consider these drawbacks and advantages before you choose to go ahead with a policy.

Pros

Competitive costs: You may save approximately £40 compared with younger homeowners as an individual over 50 looking for home insurance. This advantage will help you get an excellent policy without spending much on cover.

Extra advantages: From home emergency cover to legal protection, you can get extra advantages with over 50s home insurance. You may also receive coverage for high-value items and personal possessions, which may be included in your policy. Check with your provider to learn more about these added perks

Extended unoccupied home period: When you compare home insurance quotes, you'll find that many offer a longer unoccupied home period. Your policy will protect your property even when you take longer holidays.

Tailored to you: As well as personal belongings protection, your policy will be tailored to you and can cover damage to shrubs and garden contents with specific providers.

Cons

Limited choices: There may be a limited choice when looking for cover, so you might need to search for longer to find an option that suits your circumstances.

Exclusions: Although many coverage options are comprehensive, some exclusions might apply to your policy. It's important to check the policy documents to see what you're getting for your premium.

Declarations: If you own items worth more than a specific limit, you might need to declare this. For instance, if your policy insures your valuables, and they're worth more than £1,500, you may need to complete extra paperwork to declare those valuables.

How Much Does Home Insurance Cost for Over 50s?

You can expect to pay unique amounts depending on the coverage you require as a homeowner over 50.

For instance, if you apply for building insurance, you may pay approximately £105 for this cover. However, remember that this cost can vary across insurance providers.

If you require contents insurance, the cost is lower. You can expect to spend approximately £55 for this cover. Alternatively, if you have a combined policy including contents and building insurance, you can expect to pay approximately £135.

Best Over 50s Home Insurance Providers — Reviews

After using them for our coverage, we reviewed the top over 50s home insurance providers.

Here are the main features and benefits you may receive when selecting them.

1. Saga

Saga offered us over 50s home insurance with a three-year fixed price. This is one of the specialist providers that offered us buildings and contents insurance tailored to our specific requirements; it was also one of the cheaper home insurance options.

We noticed two levels of cover, including Saga Plus and Saga Select. We chose Saga Plus and received added extras, such as the fact that our fixed price would remain the same despite the majority of claims.

The building's insurance protected the structure of our property. We were pleased that this policy covered the roof, walls, fixtures and fittings. We were reassured that if we made a successful claim, the provider would have covered the repair costs if our property was damaged.

We received several benefits from this insurance provider and he policy gave us the peace of mind that our property was protected, so we valued this home insurance provider.

2. LV

We used LV for over 50s home insurance and were pleased that a 12-month warranty was in place for our repairs. This feature meant that even when our property was damaged and we used LV's repair service, the warranty applied to our costs.

Since we bought our home insurance online, we also received a 5% discount. Now, this discount did not include home emergencies or legal expenses, but we could save money with this cheap home insurance, which was ideal for us.

There are three levels of cover available with LV. The Essentials, Home and Home Plus each offer different coverage amounts. While the Essentials covered £500,000, the Home covered £1m and the Home Plus offered unlimited cover with their buildings policy.

We could have received alternative accommodation cover if we required another place to stay due to repairs, and lock replacement was included in the policy to keep us safe and secure. Although wear and tear were not included, or storm-related fence damage, all of these features made LV an excellent home insurance provider for over 50s.

3. Rias

When we used Rias home insurance, we received a range of cover. This provider is tailored to the over 50s and covered homeowners for computers, TVs, laptops and tablets as part of their contents insurance. When used on its own, the contents cover extends to £50,000 worth of cover as standard.

Rias offered us building cover as part of the buildings and contents cover. The buildings cover protected various features of our home, including the structure, fixtures, patios, garden walls and gates. 

We were pleased that optional extras would have been available with this insurance provider. For example, we could get back the costs of our excess in the event we needed to make a claim. This excess protection cost us £26 per year. 

We could also opt for personal legal protection, which covered us in the amount of £50,000. Rias also gave us emergency home protection when we asked for this optional extra. It cost us £27.50 per year. With this selection of features, we found Rias a top over 50s home insurance provider.

4. Age Co

When using Age Co's over 50s home insurance cover, we could have chosen buildings insurance, contents insurance or a combination of buildings and contents insurance policy. We selected the combined policy and could select from two levels of cover, including their Silver and Gold tiers.

When we chose the Gold level, we were covered for alternative accommodation. In this case, if our property became uninhabitable, we would have been covered for up to £50,000. When we compared this to the Silver tier, we found our chosen cover amount to be double the value.

We received a trace and access cover with the Gold tier, which was not included in the Silver tier. This feature meant the insurance provider would cover the costs of searching for a water or oil leak source. With the building insurance, we had cover for the rebuild cost of our property.

For the contents insurance, we received a coverage value of £500 to protect the physical cash we stored on our property. This cover was double the value of the Silver tier, which would have been worth £250.

Some optional extras came with the Gold tier and not with the Silver tier. For example, cover for accidental damage and emergencies related to risks such as heating system failure is standard with Age Co. We liked that we could renew our policy online and access all our documents easily with Age Co.

5. TSB

TSB's home insurance is available to UK citizens aged over 18. As well as loan options, this provider offers cheap house insurance that covers a wide range of risks.

For example, with this policy we had cover for damage to the home and our belongings. So, if we experienced a fire and our belongings were damaged, the policy would have covered us.

With TSB, we also had cover if our property experienced malicious damage or tenant-related vandalism. Water damage was another inclusion that we valued, as it included cover for work required to find the source of the leak.

Although there were some exclusions, such as frost damage and mechanical breakdowns, we valued this insurance policy for its cost and convenience.

Best Over 50s Home Insurance: The Verdict

Over-50s home insurance comes with many advantages that make it worth looking into. The best advantage is that you can get the best price compared with younger homeowners, so this insurance policy is ideal in many ways. 

The easiest way to find a policy provider is to consider the options in this article. However, remember to complete sufficient research and compare home insurance deals to make your decision.

Select home insurance tailored to over 50s to protect your home and personal belongings. Look into the add-ons and exclusions to make the best decision that suits your circumstances.

Related Guides:

FAQs

Is Over 50s Home Insurance Needed for Retirement Home Residents?

Does Home Insurance Increase With the Property's Age?

Is Saga Insurance Only for Over 50s?

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