3 Tips for Seniors When Looking for Affordable Homeowners Insurance

At this point in most seniors’ lives, their home is probably the biggest investment they have made in a lifetime. Whether or not it is still mortgaged or paid with deed and title in their names, it is something that cannot withstand a substantial loss. If it is still mortgaged, the lender will always want valid homeowners’ insurance to protect their financial investment.

However, if it is paid in full, some homeowners simply do without something even as affordable as AARP home insurance. If you are a senior struggling to decide on the most affordable insurance, here are some tips to help you find the right coverage for you at prices you can manage.

1. Explore the Benefits of AARP Membership

The very first step in finding affordable rates and discounts only given to seniors is to pay the low annual membership to a group dedicated to providing seniors with a quality of life. AARP offers a low introductory membership price with auto-renew and they also work with insurance providers to give seniors rates they deserve in their later years. You will find that AARP home insurance rates are among the lowest premiums you will find but that is the beginning of the savings you can enjoy.

2. Bundle Your Policies Under One Provider

Most of the major insurance companies will offer discounts for bundling more than one type of insurance. For example, they will give a ‘bonus discount’ for customers who buy auto and homeowners. Nevertheless, when buying insurance that is already discounted for seniors and getting an additional ‘bundle’ discount on top of that, you would be doing quite well in terms of cost.

3. Keep Claims to a Minimum

One other thing you should always consider is keeping claims to a minimum. Let’s use the example of someone breaking into your garage and only walking away with tools totaling only $100 above your deductible. Everything else was locked away in a tool cabinet, so that was the only loss. Insurance rates will typically go up substantially if you continually make claims against your policies. You need to do the math to calculate the difference between higher premiums and replacing those tools. Many times, you will find it more cost-effective to buy new or used replacement tools than to let the cost of your policy rise substantially.

What you can also do is safeguard your home so that claims like theft or slips and falls can be prevented almost 100% of the time. Invest in an inexpensive home security system and also make sure your sidewalks and any steps are in good repair. De-ice your walks in the winter and keep snow cleared on walkways on your property. It only takes one high-dollar claim to add hundreds to the cost of your insurance. Do what you can to avoid claims, bundle those policies and take advantage of every senior discount you can get. You will find that policies like AARP home insurance provide all the benefits you need but at prices every senior can afford.


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