You’ll feel safe and protected in your home with Saga home insurance policies. Our building and contents insurance for over 50s is designed specifically for you and your needs at this stage of your life.
People sometimes ask, is over 50s home insurance cheaper? It can be, but before we tell you why, it might first be helpful to explain what the cost of your insurance premium actually pays for.
The biggest share of the money you pay for over fifties insurance goes into the pot to pay policyholders when they make a claim. And when claims costs increase, the price of insurance has to increase too. Your money also goes towards insurance premium tax, business running costs and profits, and regulators like the Financial Conduct Authority.
Price isn't the only factor you should consider when looking at the cover you need to protect your home and its contents. However, insurance providers tend to consider people over 50 a lower risk when it comes to providing home insurance, as they are less likely to make a claim, and claims tend to be for lower amounts.
Like all insurance premiums, the price you pay will reflect your personal circumstances, such as your location, the type of property you live in and your claims history. But some more general factors are at play when it comes to cheap over 50s insurance for your home:
When you are specifically seeking cheap house insurance for over 50s, be sure to check the policy details carefully to make sure you select a policy that will give you the best over 50s home insurance for your specific needs.
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Over 50s home insurance ensures sure that, if the unexpected happens to your home or its contents, you’ll be able to put right any damage caused and replace things that you need.
Legally you aren’t obliged to have over 50s home insurance in the UK, but a mortgage provider won’t usually be able to put a mortgage in place without you at least having buildings insurance.
If you own your home without a mortgage, it still makes sense to have over 50s building and contents insurance, to protect you against unexpected costs.
Higher amounts of contents or building cover can be included in policies targeted at the over 50s, and specific benefits may be added that are most relevant to older homeowners such as:
We are proud to offer five-star treatment every day with Saga Home Insurance – Defaqto 5 Star rated every year since 2014.
Over 50s home insurance is made up of two types of insurance:
You can get separate cover in different policies, or you can get combined cover in one over 50s buildings and contents insurance policy.
Saga offers two levels of cover targeted at over 50s, Saga Plus and Saga Select.
Saga Plus is a three-year fixed-price home insurance with added extras, and comes with our claims promise that most claims won’t affect your fixed price (T&Cs apply).
Saga Select is our no-nonsense cover for when you need a little less cover but the same great service.
If you’re looking beyond our standard over 50s home insurance and need cover for over £1 million buildings or over £100,000 contents, our Saga TailorMade Home Insurance for over 50s can provide higher levels of cover as well as many great features and benefits, such as worldwide cover for your valuables and accidental damage as standard.
It isn’t a legal requirement to have over 50s home insurance in the UK, but if your property is mortgaged the mortgage provider will usually require you to at least have buildings insurance.
If you own a property without a mortgage, it’s still important to have over 50s building and contents insurance in place, as the costs of repair or replacement could run very high if your home is damaged or its contents are stolen.
Over 50s home insurance is designed with you in mind, giving you the right amount of cover for what’s important to you, and allowing you to choose the options that would be most useful to have.
Buildings insurance should be covered by the retirement home you move into, as you are not the owner of the building, although you may be paying a contribution to this via any management fees.
This might not cover your belongings, so contents home insurance for elderly residents may be needed separately, to protect personal possessions.
You should check what’s included under the retirement home’s insurance policy before moving in.
Saga do offer policies for single-room contents cover for retirement/care homes, please call 0800 302 9844 to get a personalised quote.
Over 50s home contents insurance does not always cover mobility aids such as your mobility scooter or electric wheelchair as standard. Whether you are covered or not may depend on if the mobility scooter is registered for road use. Cover might be available as an additional option, or you might need to take out specialist mobility scooter cover.
Saga Home Insurance for over 50s covers mobility scooters as long as they are not registered for road use. Mobility scooters must always be specified on the policy, regardless of value, to be covered away from home - they do not fall under unspecified personal belongings. The same applies for electric wheelchairs (and golf buggies).
You should always inform your insurer if you have a mobility scooter, and check your policy documents so you know exactly what’s covered.
There's plenty to explore and learn about our home insurance cover.
Fix the price for the next 2 renewals with Saga Plus home insurance. You'll have no surprises when you come to renew. T&Cs apply.
Keep your home and belongings just how you like them, with Saga home insurance designed to help them stay just right.
Protect your property with buildings insurance. We offer up to £1 million cover, three-year fixed price and no cancellation fee.
Protect your favourite things against theft, fire and accident with up to £100,000 content cover at a 3-year fixed price.
A higher level of buildings and contents cover for the over 50s with Saga TailorMade Home Insurance.
Tailor your home insurance policy to suit your needs with optional extras such as Saga Home Emergency and Legal Expenses.
Get cover for home emergencies with a 24/7 emergency helpline, unlimited callouts and up to £2,000 per incident. Optionally include cover for your boiler & heating too.
Insure your holiday home for peace of mind that it’s protected, even when you’re not there.