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Seniors home insurance

Your home is your castle. Protect it, with seniors home insurance.

Updated

With seniors home insurance, you'll have a helping hand to get things right as soon as possible, in the event something unexpected happens to your home.

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.

Compare seniors home insurance and get a quote

Name Product Fire, storm, & theft damage Rebuilding & Repairs to your Home Accidental Damage to Home or Belongings Underinsurance protection Pay Monthly at No Extra Cost
Budget Direct Home & Contents Insurance
Optional
Save 30% on your first year's premium when you purchase a new combined Home & Contents insurance policy online. T&Cs apply.
Youi Building and Contents Insurance
Optional
Youi Home Insurance takes the time to tailor a premium for you.
Virgin Home and Contents Insurance
Optional
Optional
Grab a $100 e-Gift card when you purchase a new eligible Virgin Home and/or Contents insurance policy by 30 September 2020. You’ll also save up to 30%. T&C's Apply.
St. George Home and Contents
Save up to 25% when you purchase cover online.
Westpac Home and Contents Insurance
Save up to 25% when you purchase cover online.
Real Top Home and Contents Insurance
Save up to 20% when you purchase combined Home and Contents online.
Coles Home & Contents Insurance
Optional
Buy online and save 25%. Collect double flybuys points at Coles Supermarkets. T&Cs apply.
ANZ Home & Contents Insurance
Optional
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Compare up to 4 providers

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
Get quote
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Australian Seniors Home Insurance

  • 10% discount for seniors cardholders
  • 5% discount for non-seniors cardholders over 50
  • New policies save 10% in the first year when buying online
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
Get quote

Real insurance

  • None
  • 10% off for new home and contents insurance policies when you buy online
Get quote

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.

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

Picture: Shutterstock

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