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Seniors home insurance

There are a few home insurers that offer discounts tailored to seniors only.

Whether a big storm batters the roof or a burst pipe floods the basement, seniors home insurance can help pay for important repairs, replace damaged items, and even cover alternative accommodation if you have to stay elsewhere for a while.

This guide will explain how to compare home insurance policies to find one that's right for you, and will reveal which insurers offer discounts to older customers.

Who offers discounts for seniors home insurance?

There are a few insurers that offer discounts tailored to seniors only, such as Australian Seniors Home Insurance. We would always encourage seniors to do the maths when it comes to seniors discounts and see how good a deal it actually is.

For example, buying a policy online can sometimes give you a greater discount than your seniors card.

Here's a quick list of discounts offered by some insurers:

InsurerSeniors discountsOther discountsGet quote

Budget Direct

  • None
  • Up to 30% off a new home and contents policy when buying online
Picture not described

Australian Seniors Home Insurance

  • 10% discount for seniors cardholders
  • None
More info

Apia

  • None
  • 15% discount on new policies when purchased online
More info

National Seniors Insurance

  • None
  • 10 % discount for the first year when a new policy is bought online
More info

Virgin Money

  • None
  • Up to 30% off when you buy Virgin Home and Contents Insurance online

Real insurance

  • None
  • Up to 20% off for new home and contents insurance policies when you buy online

This information is correct as of February 2019

How to review a seniors home and contents insurance policy. What do I look for?

When looking into purchasing a home insurance policy, seniors should consider a few things:

  • Do your kids store belongings in your home? Many policies don't automatically include cover for items other people bring into your residence, unless you list their names on the policy.
  • Do you travel often? Are you spending your retirement or weekends on the road? If your home is unoccupied for 60–90 days at a time, you may not be covered.
  • Do you have an older house? Been in the same place for a few decades? The cost of home insurance is often higher for older homes, as not all insurers are willing to take on the risk of insuring an older home. Plenty of companies will still provide cover, but you may need to pay a bit extra for the cover you need.
  • The cost to rebuild your home. Also factor in other costs you may not have thought about, such as accommodation while you rebuild, as some policies cover this.
  • Calculate how much your house is worth. Use an online calculator to help you. These calculators will estimate rebuilding costs based on either a rough guide of cost per square metres or elemental estimating, which is a more personalised estimate of the cost, asking several questions about your home.
  • Are you considering renovating to make your home more accessible? If your physical needs change, you may need to make adjustments to your home and significant renovations might not be covered. Before work begins, read the PDS and call your home and contents insurer to see what your policy will cover.
  • Do you need specialised medical equipment at home? Home insurance may cover damage to or the loss of durable medical equipment (such as assistive devices) under the personal property section of the policy, but you may have to pay extra under some policies to be covered. Some insurers may also ask for documentation from your medical professional.
  • Do you live in a risk-prone area? If floods, bushfires and cyclones are common, ensure your home and contents insurance covers these events.
  • What do you really want or need covered? Consider personalising your policy to save money. Budget Direct allows you to tailor your cover to your specific needs by letting you choose your excess to reduce your premiums.

Finder survey: Which home insurance products do Australians of different ages have?

ResponseGen ZGen YGen XBaby Boomers
Home and contents43.82%66.03%70.39%81.53%
I do not have any form of home insurance41.57%23.37%20.39%13.64%
Building (without contents)20.22%15.76%16.78%10.8%
Landlord7.87%10.87%9.87%9.09%
Airbnb/Short Term3.37%2.99%0.66%0.28%
Source: Finder survey by Pure Profile of 1113 Australians, December 2023

What's the difference between a seniors home insurance policy and a normal policy?

Every insurance company offers home insurance for seniors, but certain insurers do cater specifically to seniors, such as the Australian Seniors Insurance Agency, APIA and National Seniors Insurance.

The main difference is the price since some insurers provide discounts for seniors. In terms of the benefits, there are no differences between different policyholders.

It's handy to keep in mind that insurance needs change as you age, so choosing a flexible policy that covers your key concerns is a great way to save money and have peace of mind.

Compare seniors home insurance and get a quote

Name Product Finder score
Youi Building and Contents Insurance
4.5/5★★★★★
Best Rated Brand
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
4.5/5★★★★★
Our verdict: Finder’s 2022 Insurer of the Year for Customer Satisfaction and our Top Pick for Fire Damage cover. It’s good if you want a tailored quote over the phone.
Budget Direct Home & Contents Insurance
4.5/5★★★★★
BonusFinder Award Finalist
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
4.5/5★★★★★
Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you up to 30% off your first year for new combined policies purchased online. This is a big reason it won this year’s Finder Award for value.
QBE Home & Contents Insurance
3.5/5★★★★★
Green CompanyBonus
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
3.5/5★★★★★
Our verdict: Finder's Top Pick for Floods plus cover for other common claims such as fire and theft). Its discount is better than most – 20% off your first year with a combined policy.
Honey Home & Contents Insurance
4.5/5★★★★★
Bonus
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
4.5/5★★★★★
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you. Honey was a finalist for the comprehensive category in this year’s Finder Awards.
Australia Post Home & Contents Insurance
3.5/5★★★★★
Finder AwardBonus
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
3.5/5★★★★★
Our verdict: Covers common claims such as fire, storms, floods and rain. It’s also very helpful if you need to rebuild following a disaster. It offers a special safeguard of up to 30%.
Kogan Home & Contents Insurance
3/5★★★★★
Bonus
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
3/5★★★★★
Our verdict: Good comprehensive cover (issued by QBE). Also, get 20% off on your first year's premium when you purchase a new combined Home & Contents insurance policy online + $10 monthly credit. T&Cs apply.
Qantas Home and Contents Insurance
4.5/5★★★★★
BonusFinder Award Finalist
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
4.5/5★★★★★
Our verdict: Earn up to 40K Qantas Points for joining by 2 July. Plus save 30% on your 1st year's premium for purchasing a combined policy online. T&Cs apply.
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
2.5/5★★★★★
Save up to 10% on your policy in the first year.
Westpac Home and Contents Insurance
3/5★★★★★
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
Storm
Fire
Theft
Flood
Accidental Damage (e.g TV falls)
Impact to home (e.g falling trees)
Escaped water (e.g burst pipe)
Portable contents (e.g dropped laptop outside of home)
+ more insured events and other features
3/5★★★★★
Our verdict: Provided by Allianz, one of the biggest insurers in Australia. Cover for fire, theft, storm, cyclones and more.
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Written by

Alexandra Koster

Alexandra Koster is Finder's publisher for car, home and pet insurance. She has a Tier 1 certification in General Insurance, as well as a Bachelor of Arts in Film and Cultural Studies from the University of Sydney. Her hobbies include reading Product Disclosure Statements and deciphering complicated insurance lingo to help people save on their insurance so that they can spend their money on better things – like dogs. See full profile

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