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15 Clever Ways Seniors Can Save on Home Insurance

Don’t miss out on potential savings and discounts on your homeowners insurance.

elderly couple with laptop
Updated Sept. 24, 2024
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For seniors and those living on a fixed income, any bill should be seen as an opportunity to cut costs and save money. Whether it’s a cable bill, phone bill, or saving on car insurance, there’s often a way to negotiate the amount you're spending monthly.

For home insurance, you could make upgrades and changes to the security, safety, and condition of your home. You might also leverage your location, professional or personal affiliations or make changes to your actual policy.

Here are 15 ways to save more money on your home insurance so you can decrease your monthly fixed costs while keeping yourself and your home protected.

If you’re over 50, take advantage of massive discounts and financial resources

Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.

How to become a member today:

  • Go here, select your free gift, and click “Join Today”
  • Create your account (important!) by answering a few simple questions
  • Start enjoying your discounts and perks!

Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $12 per year with auto-renewal.

Become an AARP member now

Prepare your home for disaster

Angelov/Adobe handyman fixing a door

If you’ve ever made upgrades to your home to help protect it from extreme weather, then your insurance company may extend a discount for disaster preparedness. 

Features like storm shutters and shatterproof glass make you less susceptible to storm damage, and that’s attractive to insurance companies.

Install a new roof

ungvar/Adobe roof repairs old roof replacement

Roofs are an insurer’s worst nightmare. They leak. They’re prone to damage in storms. They can be decimated by a falling tree. 

But, if you have a brand new roof, presumably, it’s stronger. Some insurance companies will give you a discount based on the age of your roof.

Take security measures

Studio Romantic/Adobe young man installing a cctv camera

Installing security and safety systems to protect your home could make you eligible for a discount on your homeowner’s insurance. 

This discount could apply to anything from installing smoke detectors or sprinklers to mitigate your fire risk or getting an alarm system on your doors and windows.

Resolve $10,000 or more of your debt

Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.

National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1

How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.

Try it

Ask for an age-related discount

nyul/Adobe  man working online on terrace

If you’re over 55, retired, and insuring your primary residence, you could receive a discount of up to 25%. 

This is because, statistically, insurance companies can safely assume you’re home more often than someone who is away at work every day. Being home means you’re more likely to catch something wrong with your home before major damage occurs.

Live close to a fire department

VAKSMANV/Adobe confident firefighter smiling outdoor

Did you know proximity to a fire department or even a fire hydrant is seen as beneficial by insurance companies? 

Their formula assumes that if you’re close to the fire station, it’s likely a fire would be put out quickly, and there would be less damage. That translates into a lower insurance premium.

Move into a gated community

Venu/Adobe Boca Raton Florida gated community

Because gated communities are often seen as more secure, some insurance companies will offer a discount for those who live behind the gates. This could amount to a 5% to 20% credit on your premium.

Go claim-free

Nina Lawrenson/peopleimages.com/Adobe elderly male investor

If you’ve been claim-free for a certain period of time, your insurance company could offer you a discount of up to 20%. Their thinking is, if you haven’t needed to make a claim yet, there’s less chance you’ll make one in the future.

Live in an HOA community

Andrey Popov/Adobe house model near HOA rules and regulations

Living in a community with a homeowners association comes with perks, such as added security or community maintenance. 

This is a smart homeowner money move and makes you a lower-risk candidate for homeowner’s insurance, and it could qualify you for a discount of up to 10%.

Install smart home devices

oasisamuel/Adobe wireless smart thermostat

If you have gas or water shutoffs that are on a smart system or a smart thermostat, that could qualify you for a discount on your homeowners insurance. 

These upgrades can keep your home operating smoothly and prevent damage in the case of a shutoff.

Earn cash back on everyday purchases with this rare account

Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2

With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!

This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.

Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.

Apply for a Discover Cashback Checking account today


Upgrade your HVAC system

The Toidi/Adobe man adjusting air vent by hand

Upgrades to your home, including to your HVAC system, are a reason to ask for a discount on your homeowners insurance. A new HVAC system is less likely to leak or cause major issues in your home, meaning you’re less likely to file a claim.

Look into military discounts

Syntetic Dreams/Adobe soldiers saluting

Whether you’re a veteran or the spouse of a veteran or the child of a veteran, you could qualify for a discount on your homeowners insurance. Be sure to ask your insurer if you qualify.

Consider bundling discounts

rh2010/Adobe happy senior couple consulting finance advisor

You’ve probably heard that bundling insurance saves you money. If you have policies for your home, auto, or life insurance with the same company, you may get a discount. 

When your home insurance comes due, call your auto insurance company and see how much you might save if you also insure your home through them.


Stick with the same insurance company

Rawpixel.com/Adobe insurance health risk assessment

Many insurance companies reward policyholders who’ve been with them for many years, and by the time you reach senior age, there’s a good chance you’ve had enough time to be a long-standing customer. Ask for a loyalty discount.

Put in monitored alarms

W PRODUCTION/Adobe young man installing anti burglary system at home

Make sure your fire and burglar alarms are actively monitored by a company that will send emergency personnel out as soon as the alarm goes off. This could qualify you for a discount on your insurance because the insurance company knows any issues will be addressed right away, mitigating damage.

Increase your deductible

lexiconimages/Adobe deductible word in wooden letter tiles

Increasing your deductible means you’ll pay more if something does happen, but it could be worth the tradeoff if you want to pay less on a monthly basis.

What does this look like if you have a claim? If you increase your deductible from $1,000 to $2,000, it means that on a $10,000 claim, you’ll have to pay $2,000 out of pocket with $8,000 reimbursed instead of paying $1,000 and getting $9,000.

Bottom line

N Lawrenson/peopleimages.com/Adobe retired couple having coffee in kitchen

When you’re living on your retirement savings and Social Security, you’re probably being careful with your money. And you definitely want to avoid wasting money and overlooking ways you can save.

The most important thing is knowing what to ask for and having the information ready to prove you qualify. Insurance companies may not approach you to offer discounts, so do your research and advocate for your own bottom line.

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Author Details

Heather Bien

Heather Bien is a writer covering personal finance and budgeting and how those relate to life, travel, entertaining, and more. With bylines that include The Spruce, Apartment Therapy, and mindbodygreen, she's covered everything from tax tips for freelancers to budgeting hacks to how to get the highest ROI out of your home renovations.