Saga Home Insurance: cheap premiums

http://www.saga.co.uk

Home insurance is one of the few areas of the industry in which older people sometimes find themselves at an advantage. Insurance companies generally see homeowners aged 50 or more as lower risks: apparently people in the ‘silver’ sector of the market look after their property and belongings better and make fewer claims. And Saga, as is well known, specifically tailors all of its services to the over-50s. According to the company, 500,000 homeowners have taken out Saga home insurance.

Saga Home Insurance offers higher cover

Perhaps reflecting the fact that the older you are the more chance you may have had to climb up the property ladder, Saga home insurance cover allowances are high. There’s automatic buildings cover of up to ₤400,000 and contents cover of ₤50,000, although as is always the case with home insurance the exact allowances will vary from case to case. You can get higher cover if necessary, but you will have to talk to them directly. Otherwise, you can get quotes and buy a policy online. There are several cover levels, and at the time of writing there are online discounts on home insurance. That discount appears not to be a regular policy as it is with some insurers but it’s worth bearing in mind that insurers who cater for a low risk niche market may be able to offer better value for money anyway (that’s also the thinking behind women-only car insurance policies).

Saga’s not the only company which specialises in catering for the over-50s though. The Retirement Insurance Advisory Service is considered to provide good value and service for this niche market and also might be worth a look (www.rias.co.uk).

 

 

 

 

 

 

© AskFinancially.com 2008

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