Updated: October 13, 2025
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AIG Insurance, Amica, and AAA are the three most affordable home insurance providers for seniors nationally.
Home insurance for seniors costs an average of $3,503 yearly or $292 monthly.
Seniors can qualify for senior discounts, such as the retiree discount, security system discount or bundling discount.
The cheapest homeowners insurance for seniors is AIG Insurance, with rates averaging $91 per month for a policy with $250K in dwelling coverage. Amica is a runner-up, averaging $119 monthly for the same policy.Â
Rates can change by coverage level and deductible. Use the table below to compare home insurance providers and find the cheapest for your needs.
| AIG Insurance | $61 | $731 | -60% |
| Amica | $70 | $834 | -54% |
| AAA | $70 | $842 | -54% |
| CSAA | $77 | $924 | -49% |
| American Modern | $84 | $1,009 | -45% |
| Farmers | $100 | $1,199 | -34% |
| USAA | $104 | $1,245 | -32% |
| Allstate | $131 | $1,574 | -14% |
| Nationwide | $132 | $1,583 | -13% |
| Homesite | $133 | $1,594 | -13% |
| Chubb | $138 | $1,661 | -9% |
| Progressive | $283 | $3,394 | 86% |
| Travelers | $364 | $4,369 | 139% |
The cost of home insurance for seniors depends on several factors that insurers use to assess risk.
AIG Insurance offers the cheapest homeowners insurance for seniors with bad credit, averaging about $144 per month for $250K in dwelling coverage.Â
Poor credit raises rates because insurers see it as a higher risk indicator, even if you’ve never filed a claim. However, some states, including California, Maryland and Massachusetts, don’t allow insurers to use credit scores when setting home insurance rates, which helps protect seniors with lower credit.
| AIG Insurance | $144 | $1,730 | -70% |
| AAA | $178 | $2,135 | -63% |
| Amica | $230 | $2,763 | -52% |
| Allstate | $289 | $3,473 | -39% |
| USAA | $301 | $3,617 | -37% |
| Homesite | $373 | $4,472 | -22% |
| American Modern | $375 | $4,495 | -21% |
| Farmers | $381 | $4,573 | -20% |
| CSAA | $410 | $4,922 | -14% |
| Nationwide | $422 | $5,068 | -11% |
| Progressive | $567 | $6,804 | 19% |
| Chubb | $747 | $8,969 | 57% |
| Travelers | $1,020 | $12,243 | 115% |
Generally, people 60 and older have credit scores between 746 and 760. Their long credit histories, cash savings and other benefits from years of working help build good credit.
Maintaining good credit pays off. People with good credit save an average of $4,437 yearly on home insurance costs compared to those with poor credit. These savings especially help seniors living on fixed incomes.
For seniors insuring an older home, AIG Insurance has the most affordable home insurance rates, averaging $94 per month for $250K in dwelling coverage. Premiums are often higher for older houses since outdated wiring, plumbing or roofs increase the risk of costly claims.Â
Compare average monthly home insurance costs for older homes using MoneyGeek’s table.
| AIG Insurance | $94 | $1,123 | -70% |
| Amica | $114 | $1,371 | -63% |
| AAA | $127 | $1,522 | -59% |
| CSAA | $130 | $1,562 | -58% |
| Farmers | $176 | $2,118 | -43% |
| USAA | $183 | $2,194 | -40% |
| American Modern | $189 | $2,274 | -38% |
| Allstate | $196 | $2,353 | -36% |
| Homesite | $227 | $2,721 | -26% |
| Nationwide | $299 | $3,588 | -3% |
| Chubb | $419 | $5,028 | 36% |
| Progressive | $555 | $6,660 | 81% |
| Travelers | $641 | $7,692 | 109% |
The cheapest home insurance for seniors with at least one claim in the past five years is Amica, with rates averaging $73 per month. Having prior claims can raise home insurance rates, as it suggests a higher likelihood of future losses.
The table below shows how rates vary by claims history and coverage level.
| Amica | $73 | $872 | -60% |
| AIG Insurance | $75 | $902 | -58% |
| AAA | $91 | $1,094 | -50% |
| American Modern | $93 | $1,115 | -49% |
| CSAA | $105 | $1,263 | -42% |
| Farmers | $117 | $1,402 | -35% |
| USAA | $123 | $1,471 | -32% |
| Chubb | $154 | $1,849 | -15% |
| Homesite | $159 | $1,911 | -12% |
| Nationwide | $166 | $1,996 | -8% |
| Allstate | $167 | $2,006 | -8% |
| Progressive | $346 | $4,152 | 91% |
| Travelers | $401 | $4,809 | 121% |
While AIG Insurance is the most affordable home insurance provider for senior veterans, USAA is an alternative option. Catering exclusively to veterans and active military members, USAA costs an average of $185 per month or $2,217 per year.Â
Aside from affordability, USAA earns praise for its customer service, flexible policies and military perks like replacement cost coverage for uniforms and personal items. Eligible seniors can also benefit from USAA’s strong financial footing and home-and-auto bundling discounts, making it a solid long-term choice.
For seniors, a home insurance policy with $250K in dwelling coverage costs an average of $292 monthly or $3,503 yearly. Higher or lower dwelling coverage limits can affect the average rate.Â
See how the average cost of home insurance for seniors can change based on your desired dwelling coverage limits using the table below.
| $100K Dwelling / $50K Personal Property / $100K Liability | $154 | $1,848 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $292 | $3,503 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $495 | $5,939 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $700 | $8,401 |
| $1MM Dwelling / $500K Personal Property / $1MM Liability | $899 | $10,792 |
Many insurers provide discounts that help seniors save on homeowners insurance, especially for safety upgrades or certain lifestyle factors. Using these discounts can lower premiums while keeping the same level of coverage.
Senior/Retiree Discount | Available if you’re over a certain age (often 55+) or retired full-time. |
Security System Discount | Install monitored alarms, cameras, or smart home safety devices. |
Claims-Free Discount | Maintain a history with no recent claims. |
Bundling Discount | Combine home and auto insurance with the same company. |
New Roof Discount | Replace or update your roof with approved, impact-resistant materials. |
Loyalty Discount | Stay insured with the same company for multiple years. |
Gated Community Discount | Live in a secure or gated community with reduced theft and vandalism risk. |
Getting quotes based on your profile and needs helps you accurately estimate your home insurance rates.
MoneyGeek's home insurance calculator provides quotes from multiple companies, helping you compare rates and narrow your options. Enter your basic information below to start.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — It's free to use, requires no personal information and we won't send you any spam.
Rates updated:
Oct 17, 2025
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Home insurance for seniors averages about $292 per month, but top providers like AIG, Amica, and AAA often offer lower rates. AIG is the cheapest nationally, with policies starting around $91 monthly for $250K in dwelling coverage, while Amica follows at $119 monthly.Â
Seniors can cut costs further by qualifying for discounts such as retiree, bundling, or security system savings. Since rates vary by coverage level and deductible, comparing providers side by side is the best way to find affordable protection.
We answer frequently asked questions about home insurance below to help you find the best rates and deals for seniors.
AIG is the cheapest provider nationally, with average rates around $91 per month for $250K in dwelling coverage. Amica and AAA also offer affordable options depending on your state and coverage needs.
Not necessarily, as rates depend more on the home’s age, location, and claims history than the policyholder’s age. However, seniors may qualify for special discounts that can reduce costs.
Seniors looking to save on home insurance can check their eligibility for discounts, such as senior, claims-free, bundling and protective device.
Yes, but premiums are usually higher since insurers see poor credit as a risk factor. Seniors in states that ban credit use in pricing, like California, may avoid these higher rates.
Yes, USAA consistently earns high marks for customer service, financial strength, and tailored benefits for military families. It also offers competitive rates and additional perks like uniform and personal property coverage.
Why Trust MoneyGeek?Â
MoneyGeek analyzed quotes from multiple insurance companies across the U.S. using a profile that reflects the average homeowner. By considering different locations and companies, we aim to give a reliable estimate of what homeowners can expect to pay — showing why they should compare rates.
Methodology
MoneyGeek evaluated homeowners insurance carriers using insights and premiums from Quadrant Information Services official databases.
Homeowner Profile
For our analysis, we created a sample homeowner with these characteristics:
Homeowners Insurance Coverage Details
Unless specified otherwise, we used these coverage limits for our quotes:
We also gathered data for policies with broader coverage to find the best companies for expensive homes, increasing limits to $1M in dwelling coverage, $500K in personal property coverage and $1M in liability coverage.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
