Home insurance for senior citizens and the over 50s

Thursday, 23, Aug 2007 05:24

Age can be one of the main factors when calculating and obtaining a home insurance premium. An increasing amount of specialist insurance companies are emerging that recognise that over fifties have specialist home insurance risks to cover and are also statistically less likely to make a claim.

As well as age adapting safety and security aspects such as fire alarms, smoke activated sprinkler systems, burglar alarms and other enhanced technology into your home are often some of the other factors that help to gain a lower discounted premium. If you are a non smoker you can sometimes get an even better offer because you reduce the risk of fire.

Senior citizens are usually on a fixed income depending on their retirement funds so getting a cost effective cheap insurance policy is important. Seniors often start their search for a home insurance policy by asking friends and family for recommendations stating which companies they trust for their house insurance. However there is an increasing online uptake in the amount of over 50s policies and quotes with this trend is expected to continue to rise.

There is a growing number of niche over 50s insurers offering home and contents insurance on the premise that they can offer a better deal as they specifically deal with low-risk over 50s customers. The largest over 50s insurance providers in the UK currently are Saga and RIAS, there are also many other senior citizen related sites and portals that offer insurance as an affiliated product.

When searching for house insurance non-over 50s specialists should not be overlooked. It is also worth checking other well known insurers who are renowned as the most competitive according to recent industry research, such as Swift Cover and Kwik-Fit Insurance. Insurers who market themselves as over 50s insurance providers are not always the best value and not always suited to your exact needs. Other useful tools to use are insurance comparison sites such as Go-compare and Money Supermarket. There is now also a new insurance comparison website at Confident Cover who provide comparisons from over 50s providers, at present it does not offer home insurance comparison but hopes to do so in the near future.