Home Insurance for Elderly Homeowners
Home insurance for seniors tends to cost less—but there are certain implications and risks to consider.
- The Hartford is a quality carrier designed for seniors
- Amica, Chubb and Erie rank highly for customer service
Find the best rates as a senior homeowner by comparing companies today. Enter your ZIP code to get started today.
Best home insurance for seniors
The Hartford is a great choice if you're looking for reliable coverage and strong customer service that works well for older adults. The "best" company also depends on what traits you value in an insurer: is price the most important, or do you prioritize customer service? Below, we’ll share other top-rated home insurance options for seniors to help you make the best decision.
As you think about your current home insurance, it’s important to know what risks you might face. For retirees living on a fixed income, having the right insurance isn’t just about paying a bill—it’s about protecting yourself from unexpected costs. Keep reading for simple tips on what to look for when shopping for home insurance.
Common home policies and features
Homeowners insurance for seniors is similar to coverage for any age, but certain needs may require special attention.
If you’ve added features like mobility ramps or stairlifts, be sure to notify your insurer so they’re included in your policy.
Standard coverage typically includes your dwelling, personal property, liability, medical payments, and additional living expenses. You can increase coverage levels based on your needs.
| Coverage type | Typical Coverage Limit |
|---|---|
| Dwelling | Varies |
| Other Structures | 10% of dwelling coverage |
| Personal Property | 50% of dwelling coverage limit |
| Loss of use | 20% of dwelling coverage limit |
| Medical payments | Varies |
| Personal liability | Varies |
Essential home insurance coverage for senior citizens
As a senior homeowner, make sure your coverage reflects your current needs. Your dwelling limit should be high enough to rebuild at today’s construction costs—extended replacement cost coverage can add 10–25% extra protection if needed.
Consider raising your liability limits if you host guests or have higher-risk features like pools, stairs, or long driveways. An umbrella policy can add $1 million or more in liability coverage for broader protection. It’s especially valuable for retirees with substantial assets and covers legal costs tied to home or auto incidents.
Note: Standard home insurance doesn’t cover flood damage. If needed, you can buy flood insurance through the NFIP or a private insurer.
Other insurance coverage considerations for seniors
Homeowners insurance often covers cemetery monuments and burial plots, typically up to $5,000 for damage from vandalism and other perils. Coverage limits can often be increased. Liability protection also applies—if someone is injured on your family’s plot or monument, your policy may cover legal or medical costs.
"Once you’ve paid off your mortgage, no one requires you to carry homeowners insurance — but that doesn’t mean you should drop it. You’ve spent years paying into your home, and you risk losing everything without coverage. It’s different from auto insurance, where the law requires coverage. With your home, it’s your responsibility to protect that investment."
-Johnny Hawkins, Licensed Agent and Manager at The Zebra
Important risk considerations for your homeÂ
Being aware of certain risks is important so you can be properly protected. Here are a few to consider as an older adult:
-
Have you recently retired or lost a source of income?
Adjusting coverage can help manage costs while still protecting what matters. -
Is your home occupied full-time?
If you travel often or leave your home vacant for extended periods, you may need coverage for vacant or unoccupied homes. -
Have you made age-friendly upgrades like handrails or ramps?
These can reduce liability risks—and may even qualify you for home safety discounts. -
Do you store valuable heirlooms or jewelry at home?
You may need scheduled personal property coverage to make sure they’re fully protected. -
Is your home fully paid off?
Without a mortgage lender requiring specific coverage levels, you’re in control—don’t underinsure to save a few dollars. -
Do you have caregivers or in-home help?
Workers’ compensation or additional liability coverage may be needed in case of an injury or claim. -
Do you have an expensive property, or has your home’s value increased significantly?
Your coverage should reflect your home’s current replacement cost, not its value from years ago. -
Does your property have any attractive nuisances?
Certain "fun" additions to your home can increase liability risks and may require added coverage.
A swimming pool can be fun for family and friends to enjoy when they visit, but having one on your property opens you up to a higher risk of liability claims. Other examples include playground equipment, trampolines (which may not be covered at all), or yard fixtures (such as permanent art). Homeowners may be found liable for injuries caused by these items, even if the injured person was on the property without permission. Â
Home contents insurance for the elderly
Protecting your valuables is important, especially if you own high-value items such as antiques or jewelry. Homeowners insurance policies typically provide coverage for such items up to a certain amount.
Typical insurance limits for common items are as follows:
| Sub-limit | Property | Limitations |
|---|---|---|
| $200 | Money, gold, coins | |
| $1,500 | Jewelry, watches, furs | Theft-only |
| $1,500 | Watercraft, trailers | Theft-only |
| $2,500 | Firearms | |
| $2,500 | Silverware | |
| $2,500 | Business property | On-premises |
| $500 | Business property | Off-premises |
| Varies | Electronics | |
| $1,000–$2,500 | Fine art | Typically limited to theft-only |
What’s the best home insurance company for senior citizens?
There are many insurance companies that offer policies with senior citizens in mind. The Hartford, for example, offers policies tailored to the elderly. Although AARP does not sell home insurance, AARP members may be eligible for special benefits and discounts through The Hartford or other affiliated companies.
If you own a high-value home, companies like Chubb and AIG could be a good fit. These insurers offer more coverage than standard companies, which means your home and belongings can be fully repaired or replaced if something goes wrong. They may also include extra protection that regular insurance policies don’t offer.
If positive customer experience is your priority, Amica and Erie (a regional carrier covering 12 states and Washington, D.C.) are great options.[2]
- Tailored for those over age 50
- Discounts through AARP
- Ranks well in customer satisfaction
- Available nationwide
- Bundling options and discounts
- Good quality customer service
- Great for high-value homes
- Top-ranking customer service
- Extensive products and services
Get personalized insurance rates in less than 5 minutes.
How seniors can save on home insurance
Homeowners insurance usually isn't more expensive for older adults. In fact, factors like your home’s age, size, and location have a bigger impact on your rate than your age. Some insurers even offer senior discounts.
Insurance companies look at several details to set your rate, including:
-
The age and condition of the home
-
Its size and location
-
Your credit and claims history
Looking for ways to save? Ask about senior discounts, bundle policies when possible, and compare quotes to get the best deal.
How much does homeowners insurance cost?
A lot of retirees assume that homeowners insurance gets cheaper with age—but that’s not always the case. Your premium is usually based more on things like your home’s value and where you live than your age. That’s why it’s a good idea to shop around and see what different companies are offering. The table below gives you a quick look at average rates from top insurers to help you get a general sense of what to expect.
Updating data...
| Company | Avg. Annual Premium | Avg. Monthly Premium |
|---|---|---|
| Amica Mutual | $1,555 | $130 |
| AIG | $1,753 | $146 |
| State Farm | $2,269 | $189 |
| Chubb | $2,295 | $191 |
| USAA | $2,515 | $210 |
| Allstate | $2,669 | $222 |
| The Hartford | $2,700 | $225 |
| Nationwide | $2,762 | $230 |
| Farmers | $3,424 | $285 |
| American Family | $4,182 | $349 |
Source: The Zebra
Cheaper insurance through discounts
Retired homeowners may qualify for specific discounts—especially if they’re 55 or older—because they’re more likely to be home, maintain their property, and spot issues early. Some companies offer up to 10% off; additional savings may be available through employer or professional group programs.[1]
Most insurance companies offer a variety of discounts these days, regardless of age. Some to inquire about include:
Most insurance companies offer discounts to policyholders who are enrolled in more than one insurance product with one company. The most popular choice for bundling is home and car insurance, which can generate savings on both policies.
Updated security systems in your home could earn you a discount with some insurance providers.Â
Continuous enrollment in policies with one insurance company can earn you a loyalty discount.Â
Improvements like storm windows and roof reinforcements can increase the value and security of your home, making it eligible for this discount.Â
As with any insurance product, a clean claims history can save you money on insurance premiums. If you have an incident at home that you can easily pay for out of pocket, it may not be worth filing a claim, especially if it's below your deductible amount.
Home Replacement Cost Calculator | The Zebra
Use this handy calculator to estimate your home's replacement cost based on its square footage and your area's average rebuilding cost per square foot.
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Condo insurance for seniors
Condo living is a popular choice for many seniors because it means less upkeep—no yard work or outside repairs—and it often comes with a built-in sense of community. But condo insurance works a little differently than regular homeowners insurance.
Your own policy covers just your unit. Shared spaces—like hallways, the roof, and the lawn—are covered by the condo association’s master policy. Since every master policy is different, it’s smart to have your insurance agent look it over to see if you need extra coverage for your own space.
Condo insurance typically includes protection for personal belongings, liability, loss of use, and guest medical payments. However, it doesn’t cover the cost of rebuilding the structure itself—that’s the role of the master policy.
A key add-on to consider is loss assessment coverage, which helps cover your share of repairs if a common area is damaged and the master policy isn’t enough to pay for it, such as after a major storm or fire.
See the chart below for a breakdown of what condo insurance usually covers.
| What is covered by condo insurance? | What is not covered by condo insurance? |
|---|---|
| Fire and smoke damage | Earthquake damage |
| Explosion damage | Flood damage |
| Wind and hail | Intentional damage |
| Theft or malicious theft | Nuclear hazards |
| Vandalism | Routine wear and tear |
| Riots, civil commotion | |
| Aircraft | |
| Vehicles not owned or operated by the resident | |
| Lightening | |
| Burst pipes |
Real people. Real help. Right here.
Renters insurance for seniors
Renters insurance is vital for elderly renters. Like homeowners insurance, renters insurance provides personal property coverage as well as personal liability coverage. As it does not insure the actual building itself, it is often quite affordable. Renters policies also have additional living expenses coverage if you are displaced from your apartment due to a fire or natural disaster
If you live in the Mid-Atlantic region, Erie is a highly ranked insurance company for customer satisfaction and took the top spot on J.D. Power's customer satisfaction rating in 2024.[3]
While retirement homes or assisted living centers typically provide some furniture, many inhabitants choose to supply their own belongings. For high-value items, the same basic sub-limits usually apply to both renters and homeowners policies.Â
Renters policies also provide personal liability coverage to help protect you against damages or injuries occurring in your home. This comes in handy if you often have visitors, as it’s possible you could be held liable if damages or injury occur during their visits.Â
How to choose the right homeowners insurance policy
There are many things for senior citizens to consider when looking for a homeowners policy. Your lifestyle, home type, and the value of your home and possessions can all impact the company and policy that you choose. It’s best to compare home insurance quotes from multiple companies to get a good sense of what's available.Â
There are benefits to working with an insurance agent to help ensure you choose the right types and amounts of coverage for your needs, regardless of whether you live in a home, condo or apartment. Our agents at The Zebra are happy to help and are just a phone call away!
Find the right policy in only a few minutes.
Senior home insurance FAQs:
12 Ways to Lower Your Homeowners Insurance Costs. III
Widespread Price Increases, Extreme Weather Events and Long Repair Cycle Times Strain Customer Satisfaction with Homeowners Insurance Claims. J.D. Power
Rampant Home Insurance Increases Strain Customer Satisfaction—and Drive Policy Shopping. J.D. Power
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.