Seniors home insurance

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:

Insurer	Seniors discounts	Other discounts	Get quote
Budget Direct	None	Up to 30% off a new home and contents policy when buying online	Get quote
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	More info
Real insurance	None	Up to 20% off for new home and contents insurance policies when you buy online	More info

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?

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 Youi Building and Contents Insurance 4.5/5★★★★★ Finder score 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★★★★★ Finder score	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.	Get a quoteView details Compare	loading Fetching your data...
Budget Direct Home & Contents Insurance Budget Direct Home & Contents Insurance 4.5/5★★★★★ Finder score 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★★★★★ Finder score	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.	Get a quoteView details Compare	loading Fetching your data...
QBE Home & Contents Insurance QBE Home & Contents Insurance 3.5/5★★★★★ Finder score 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★★★★★ Finder score	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.	Get a quoteView details Compare	loading Fetching your data...
Honey Home & Contents Insurance Honey Home & Contents Insurance 4.5/5★★★★★ Finder score 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★★★★★ Finder score	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.	Get a quoteView details Compare	loading Fetching your data...
Australia Post Home & Contents Insurance Australia Post Home & Contents Insurance 3.5/5★★★★★ Finder score 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★★★★★ Finder score	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%.	Get a quoteView details Compare	loading Fetching your data...
Kogan Home & Contents Insurance Kogan Home & Contents Insurance 3/5★★★★★ Finder score 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★★★★★ Finder score	Our verdict: Good comprehensive cover (issued by QBE). Also, get 16% off on your first year's premium when you purchase a new combined Home & Contents insurance policy online + $10 monthly credit. T&Cs apply.	Get a quoteView details Compare	loading Fetching your data...
Qantas Home and Contents Insurance Qantas Home and Contents Insurance 4.5/5★★★★★ Finder score 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★★★★★ Finder score	Our verdict: Earn up to 30K Qantas Points for joining by 30 September. Plus save 30% on your 1st year’s premium for purchasing a combined home and contents policy online. T&Cs apply.	Get a quoteView details Compare	loading Fetching your data...

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Written by

Alexandra Koster

Publisher

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 bio