Our research shows that over 50s pay around £19 less for their home insurance than younger homeowners1.
Average cost for over-50s
£176.46
Average cost for under-50s
£195.24
1Based on Confused.com data from January 2022-2023. The average combined policy for over 50s was £176.46. Those below the age of 50 paid an average of £195.24 for the same type of policy.
Insurers base their prices on a range of factors, not just your age. But there could be a few reasons why over 50s pay less:
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How to claim a reward
*Based on data provided by Consumer Intelligence Ltd, www.consumerintelligence.com (April ’23). 51% of home insurance customers could save £174.41 on a combined policy.
**Single annual policy. Shell Go+ account required. Only one £10 fuel reward can be used per transaction and each can only be used on fuel purchases of £10 or over. HelloFresh 18+ subscription service. Geographical exclusions apply. T&Cs apply
Over 50s home insurance is available with a few add-ons that could be useful.
Some may already be included in your home insurance policy or may be added to your policy for an extra cost:
Accidental damage cover can cover either your contents or your building. The contents version covers things like carpets, sofas and fixtures. The buildings version covers the structure of your home itself.
Legal protection provides you with cover for any legal expenses relating to your home. It’s useful if you have any legal disputes with your neighbours or tradespeople.
High-value items cover protects individual items in your home that are worth over £1,000. These might not be covered by your standard contents insurance policy.
Personal possessions cover insures high value items while they’re away from home. This can include things like laptops, phones or expensive jewellery.
Home emergency cover provides you with immediate help for any issues with your home that could affect your health. For example, if your window smashes in a storm.
Alternative accommodation cover means that your insurer will help you find somewhere to stay and cover the costs if your home suddenly becomes uninhabitable. This could be due to flood or storm damage for example.
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protects the permanent fixtures and structure of your home.
protects your thatched roof home against theft, loss and damage.
protects your household belongings against theft, loss and damage.
can protect you and your rental property against unexpected costs, like building or content damage, as well as any disputes.
covers your belongings against loss, damage and theft while in your rental property.
can offer some protection for your home and belongings if you live in a flood risk area.
can be tailored to cover the building, content or both depending on whether you own or rent your flat.
Our collection of UK home insurance statistics for 2023, such as average UK home insurance costs, UK home insurance market share and property insurance claim statistics.
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