Homeowners insurance for retirees ranges from $65 per month at AIG to $459 at Progressive, a $394 monthly difference that totals $4,728 per year for the same coverage. On a fixed income, that's the difference between a minor monthly expense and a payment that competes with other major bills. Take a look at the cheapest home insurance providers for retirees looking for $250,000 in dwelling coverage below:
Homeowners Insurance for Retirees: Cheapest, Best & Discounts Available (2026)
Updated: July 10, 2026
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Key Takeaways
AIG offers the lowest rates for retirees. It also ranks highest among insurers with accessible approval requirements, combining affordability with coverage quality.
Shopping around matters: the gap between the cheapest and most expensive insurer for the same retiree profile adds up to $4,728 a year.
For retirees, raising your deductible can save money, but it only makes sense if you have that extra amount sitting in savings you can tap if a claim comes up.
Cheapest Homeowners Insurance Companies for Retirees
The home insurance rates in our table above are based on a policy with $250,000 in dwelling coverage for homeowners aged 61 and above with an excellent credit score and an older home. The actual cheapest for you depends on a range of factors, like your credit score, your home's age, dwelling coverage limit and your deductible. Use MoneyGeek's home insurance calculator for retirees below to see the cheapest provider for your needs.
Affordable Home Insurance Calculator for Retirees
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Our Top Homeowners Insurance Picks for Retirees
The best homeowners insurance for most retirees is from AIG, earning a MoneyGeek score of 4.77 out of 5. Not only is it the best, but it's also the most affordable, meaning retirees don't need to choose between quality and price. For military members and veterans, USAA is the best with a 4.85 out of 5.
| USAA | 4.85 | 4.81 | 5.00 | 4.75 |
| AIG Insurance | 4.76 | 5.00 | 4.22 | 5.00 |
| Amica | 4.75 | 4.97 | 4.91 | 3.63 |
| CSAA | 4.6 | 4.99 | 3.80 | 4.80 |
| State Farm | 4.6 | 4.92 | 4.31 | 4.04 |
| AAA | 4.58 | 4.94 | 3.80 | 4.80 |
| Farmers | 4.44 | 4.81 | 4.26 | 3.47 |
| Chubb | 4.35 | 4.22 | 4.59 | 4.37 |
| Allstate | 4.24 | 4.61 | 3.88 | 3.69 |
| Homesite | 4.22 | 4.72 | 3.33 | 4.20 |
| Nationwide | 4.15 | 4.51 | 4.17 | 2.82 |
| Travelers | 4.03 | 4.80 | 3.81 | 1.67 |
| American Modern | 4 | 4.80 | 3.47 | 2.18 |
| Progressive | 3.75 | 4.09 | 3.87 | 2.29 |
If customer service is your priority, Amica earns the highest score of 4.91 out of 5 after USAA. If you've ever had to file a claim and dealt with a difficult process, you know that great customer experience shapes how smoothly your life gets put back together after something goes wrong. Amica's 4.91 score is the highest of any nationally accessible insurer in our analysis.
Homeowners Insurance Discounts Available to Retirees
Most homeowners insurance carriers offer discounts that reward responsible homeownership, and retirees with older homes, excellent credit, clean claims histories and long tenure often qualify for more of them than they realize. This table covers the most common home insurance discounts that retirees can qualify for.
Claim-Free | No claims filed within a set period (varies by carrier, usually three to five years) | State Farm, Amica, AAA, Allstate, Chubb, COUNTRY Financial, Farmers, Nationwide, Travelers, USAA |
Home and Auto Bundle | Insuring home and auto with the same carrier | State Farm, Amica, Allstate, Farmers, Homesite, Nationwide, Progressive, The Hartford, Travelers, USAA |
Security and Monitoring Systems | Monitored burglar alarms, fire alarms, smoke detectors, sprinkler systems, water leak sensors | State Farm, Amica, AAA, Allstate, Auto-Owners, Chubb, COUNTRY Financial, Farmers, GEICO, Nationwide, Progressive, The Hartford, Travelers |
Loyalty | Continuous coverage with the same carrier for one to three years | Amica, AAA, Allstate, American Family, COUNTRY Financial, Farmers, USAA |
Home Renovation and Utilities | Updated electrical, plumbing or HVAC by a qualified contractor; impact-resistant roofing; a full home remodel | State Farm, Amica, AAA, American Family, Auto-Owners, Chubb, COUNTRY Financial, Farmers, Nationwide, Progressive |
Senior or Mature Homeowner | At least one insured is age 50 or older (varies by carrier) | AAA, Homesite |
What Coverage Does a Retiree Actually Need?
A retired homeowner needs enough dwelling coverage to fully rebuild at current costs, enough personal property coverage to replace decades of accumulated contents and enough liability to protect assets that no longer have a paycheck replacing them if something goes wrong. Here's how each home insurance coverage works.
FLOOD & EARTHQUAKE INSURANCE
Every standard homeowners policy excludes flood damage and earthquake damage. These require separate policies. Retirees in FEMA flood zones without flood coverage risk paying full rebuild costs out of pocket after a single storm. Flood insurance is available through most carriers via the National Flood Insurance Program. Check your exposure and buy it separately if you need it.
How to Choose the Right Deductible on a Fixed Income for Retirees
A working household that saves $240 a year by raising its deductible from $1,000 to $2,500 has a paycheck to absorb that extra $1,500 if a claim hits. A retiree on Social Security or a fixed pension doesn't have that cushion, so the same $240 in savings carries more risk. The trade only makes sense if you have $2,500 sitting in liquid savings you won't need for anything else, since pulling from retirement accounts early or going without means a higher deductible will end up costing you more than it saves.
Retirees in hurricane and tornado corridors face a second version of this problem: many policies carry a separate wind or hail deductible that's a percentage of dwelling coverage, not a flat dollar amount. On a $250,000 dwelling policy, a 2% wind deductible means $5,000 out of pocket before insurance responds to storm damage, which is a much bigger hit on a fixed income than it would be with a steady paycheck behind it. Check your declarations page, and if you're in the Gulf Coast, Atlantic Coast or Great Plains, ask your carrier whether a flat-dollar option is available instead.
Home Insurance for Retirees: Bottom Line
For most retirees, the clearest choice comes down to AIG at $65 per month if rate and coverage breadth drive the decision, or Amica at $76 per month if claims service quality is the priority. USAA at $131 per month is the top overall option for military families: it holds the highest customer experience score in our analysis. Whatever carrier you choose, insure for replacement cost rather than market value, and use mortgage payoff as the trigger to review coverage levels and shop for a better rate.
Retiree Homeowners Insurance: FAQ
Not automatically, but the profile most retirees carry (excellent credit, no recent claims and stable occupancy) qualifies for lower rates than the national average. In our analysis, the senior homeowner profile attracted rates 56% to 66% below the national average, depending on the carrier. That discount isn't labeled as a retiree rate, but is rather the combined effect of underwriting factors that retirees disproportionately hold.
AIG is the cheapest option in our analysis at $65 per month for $250,000 dwelling coverage. CSAA is second at $67 per month and Amica third at $76 per month. All three carry MoneyGeek scores above 4.6 out of 5. Rates are estimates and vary by location and home characteristics.
No. USAA is available to active military members, veterans and eligible family members only. It earns the highest overall MoneyGeek score in our analysis at 4.85 out of 5, including a 5 out of 5 score on customer experience, at $131 per month for $250,000 dwelling coverage. Retirees who don't qualify should look at Amica, which carries the next-highest customer experience score among general-public carriers at 4.91/5 and costs $76 per month.
Enough to fully rebuild the home at current labor and material costs, not its purchase price, assessed value or market value. A retiree who paid $180,000 for a home in 1998 that costs $340,000 to rebuild today needs $340,000 in dwelling coverage. If that gap is unfilled, the retiree pays the difference out of pocket after a total loss. On a fixed income with no paycheck to recover that shortfall, getting the dwelling limit right matters more than almost any other decision in the policy.
Only if you have the full deductible amount in liquid savings. Raising the deductible from $1,000 to $2,500 saves roughly $240 a year in many cases, but file one claim before year six and the math reverses. It makes sense if you have savings to absorb it without financial distress. It's a liability if you need to borrow to cover it. Also, confirm whether your policy carries a separate wind or hail deductible stated as a percentage of the dwelling coverage; on a $250,000 dwelling coverage policy, a 2% wind deductible means $5,000 out of pocket before the policy responds.
Why Trust MoneyGeek's Rates for Retirees: Our Methodology
MoneyGeek scored homeowners insurance companies for retirees across three weighted dimensions: affordability, customer experience and coverage quality. Rates reflect a senior homeowner profile, age 61 or older, older home, 2,500 sq ft, low fire risk, excellent credit and claim-free for five or more years, using a $1,000 deductible, analyzed across five coverage tiers from $100,000 to $1 million in dwelling coverage.
The MoneyGeek score is a composite of all three dimensions; a carrier can rank first on affordability and still place lower overall if its customer experience and coverage scores pull the composite down. All rates are estimates from national carriers and will vary by ZIP code and individual underwriting.
Get more details about our home insurance methodology.
About Mark Fitzpatrick
Mark Fitzpatrick, a licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has spent nearly a decade analyzing the market, first at LendingTree and now at MoneyGeek, where he produces original research on hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.
He covers economics and insurance at MoneyGeek, and his work has been featured in The Washington Post, The New York Times and NPR, among other outlets.
Like all MoneyGeek analysts, he draws on independent cost and consumer experience data. No insurance company partnership influences his recommendations.
Mark holds a B.A. from Boston College and an M.A. in Economics and International Relations from Johns Hopkins University. He started his career in financial risk management at State Street and is also a five-time “Jeopardy!” champion.