Home Insurance Discounts for Seniors

One of the perks of getting older is insurance companies generally perceive mature customers as less risky. In a competitive market they are keen to attract and retain senior customers due to the lower likelihood of claims being made. Some companies consider the over 60’s as more responsible and settled and thus offer discounts. Others begin offering discounts when half a century is reached.

Actuaries consider that more often those of a certain age are apt to live in areas with less crime and to maintain their properties in better condition, meaning big savings can be made on both building and contents insurance. There are a number of companies which specialize in home insurance for seniors including Castle Insurance and Saga. Further discounts are usually available to online customers.

The trick to uncovering the best discounts is to comparison shop online and be prepared to switch providers. Once a good deal is obtained it pays to review the insurance provider each year to ensure that complacency does not set in and to be aware if a new and better deal is obtainable. Often a current provider will be willing to discount a policy further in order to retain loyal customers.

The best discounts are available to those who have taken extra security precautions such as fitting approved locks on windows and doors, installing an alarm system, or being a member of the neighbourhood watch. The expense of taking such measures can be recouped over time by the savings made on insurance premiums, with the additional benefit of providing peace of mind.

Some insurance companies also offer cash backs if one signs up for their policies. Combining a number of insurance policies through one provider can also widen the scope for discounts thus making it advisable to request quotes for buildings, content, and car insurance, at the same time.

There are some excellent comparison sites available which cut the leg work of comparison shopping. Utilize the free services provided by Confused.com and Compare the Market in order to get quick quotes from a myriad of providers. Whilst cashbacks and other offers can be alluring, the bottom line consideration should be the actual price of the policy and the necessary cover it provides to meet individual needs.

Saga Home Insurance specializes in cover for the over 50’s and offers a 25% discount to online customers. However the offer is only available for the first year, emphasising the importance of comparison shopping each year. Saga also offers a home response service matching the policy holder with reliable tradesmen at any time of the day or night.

Castle Cover Insurance offers discounted home insurance for the over 60’s. It advertises that independent research shows that 10 percent of applicants could achieve a saving of £153 by switching. There are also good offers available from household names such as Tesco and Sainsburys.

The best discounts are to be achieved by combing discounts for the over 50’s or 60’s with extra discounts offered for applying online. It pays to be alert rather than complacent, and if the thought of switching providers seems like too much hassle simply take the best quote and ask the current provider to match it in order to retain the business.