Updated: June 30, 2026
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AIG is the cheapest for seniors in our analysis, but having Amica at $118 and AAA at $123 per month gives seniors more options if AIG isn't available in their state or doesn't fit their coverage needs.
For seniors who've worked hard to maintain good credit, our data shows why it's worth protecting: poor credit adds an average of $4,437 per year to homeowners insurance premiums.
For seniors on fixed incomes, discounts like retiree status, claims-free history, bundling and security systems can lower premiums without cutting the coverage your home still needs.
Across every coverage level in our analysis, from $100,000 to $1 million, AIG is the cheapest home insurance provider for seniors, with premiums that stay low as coverage needs grow. It costs only $69 per month to go from $250,000 to $500,000 in coverage, which is far more manageable compared to Farmers, where the same increase costs $199 monthly.
AIG's gradual pricing structure is the better choice for retirees who need coverage matched to an actual rebuild estimate, not a round number.
| AIG Insurance | $61 | $727 |
| Amica | $69 | $823 |
| AAA | $70 | $843 |
| CSAA | $77 | $924 |
| American Modern | $84 | $1,009 |
| State Farm | $95 | $1,138 |
| USAA | $104 | $1,245 |
| Farmers | $124 | $1,483 |
| Nationwide | $130 | $1,566 |
| Homesite | $133 | $1,595 |
For seniors who've owned their home for decades, that rebuild cost estimate deserves a closer look than most realize, because years of kitchen upgrades, room additions and renovations raise your home's actual rebuild cost well beyond what you first insured it for.
Underinsuring is just as costly a mistake as overpaying on your insurer, and our data shows it: the difference between cheapest and most expensive at $250,000 dwelling coverage alone is $4,305 per year across the 14 insurers we analyzed. Getting your coverage level right and then shopping at that exact tier are the two moves that protect both your home and your retirement budget.
Most insurers charge more for older homes, but our data shows that extra cost looks very different depending on who you're insured with. At $250,000 dwelling coverage with a $1,000 deductible, Progressive charges seniors with older homes $115 more per month than those with newer ones.
AIG's older home rate bump is just $3 per month, and Amica actually charges $5 less. For seniors who've lived in their home for decades, picking the wrong insurer doesn't just cost more; it costs more specifically because of the home they've built their life in.
| AIG Insurance | $63 | $754 |
| Amica | $66 | $792 |
| CSAA | $78 | $930 |
| AAA | $79 | $948 |
| American Modern | $91 | $1,098 |
| State Farm | $99 | $1,185 |
| USAA | $103 | $1,236 |
| Farmers | $124 | $1,482 |
| Nationwide | $139 | $1,673 |
| Homesite | $144 | $1,728 |
| Chubb | $152 | $1,821 |
| Allstate | $159 | $1,904 |
| Travelers | $312 | $3,744 |
| Progressive | $332 | $3,985 |
The difference matters most when you look at the full picture: seniors in older homes pay $1,125 per year with AIG at the $250K level, while the most expensive option in our data runs $6,767 for the same coverage. For retirees on fixed incomes, choosing an insurer that doesn't charge more for older construction is one of the most senior-specific savings moves you can make.
A claims history is something most seniors are likely to have, and our data shows every insurer raises rates by the same 16% for one claim and 29% for two, so the insurer you start with matters more than you might think. At $250,000 dwelling coverage with a $1,000 deductible, AIG's rate with one claim on record is $105 per month, still cheaper than 13 out of 14 insurers' clean-record rates.
| AIG Insurance | $70 | $842 |
| Amica | $80 | $954 |
| AAA | $81 | $978 |
| CSAA | $89 | $1,071 |
| American Modern | $97 | $1,169 |
| State Farm | $110 | $1,320 |
| USAA | $120 | $1,443 |
| Farmers | $143 | $1,719 |
| Nationwide | $151 | $1,815 |
| Homesite | $154 | $1,849 |
| Chubb | $155 | $1,863 |
| Allstate | $160 | $1,922 |
| Travelers | $318 | $3,819 |
| Progressive | $326 | $3,911 |
The reason that 29% increase feels so different across insurers is simple: it's applied to whatever you're already paying. AIG customers with two claims pay $117 per month. Travelers customers in the same situation pay $577, because 29% of a high base rate is a much bigger dollar jump than 29% of a low one.
AIG offers the lowest rate for senior veterans at $90 per month. USAA costs $185 per month for eligible members, a $95 monthly difference. That premium covers replacement cost for uniforms and personal items during moves; most competitors require a separate rider or exclude items in transit entirely.
For seniors whose only concern is price, AIG is the clear choice. Home insurance built for military families is the better fit for those who want USAA's claims satisfaction scores and financial stability ratings alongside the higher premium.
Insurers offer discounts for safety upgrades and lifestyle factors. You'll save on homeowners insurance while keeping the same coverage level.
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. |
Seniors pay an average of $292 per month for home insurance at $250K dwelling coverage, but AIG comes in at $90, Amica at $118 and AAA at $123. Your profile changes the math: older homes, past claims and poor credit all affect how much each insurer charges, and not by the same amount. Compare quotes and ask about retiree, bundling and security system discounts to find what actually works for your situation.
We answer common questions about home insurance rates and deals for seniors.
AIG is the cheapest nationally at $90 per month for $250,000 in dwelling coverage with a $1,000 deductible, based on MoneyGeek's analysis of 14 carriers across all 50 states. Amica ($118 per month) and AAA ($123 per month) are the next most affordable options. Rates depend on your state, home age, credit score, claims history and coverage level, so your individual quote may differ from these national averages.
Not necessarily. Rates depend more on your home's age, location, condition and claims history than on your age. In our analysis, the biggest rate factors were credit score (a $4,437 per year gap between good and bad credit) and prior claims ($15 to $72 more per month depending on the carrier), and seniors may qualify for retiree, claims-free and loyalty discounts that offset any age-related increase.
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 higher. In our analysis, AIG's rate for seniors with bad credit was $144 per month, $54 more than its standard rate of $90, and Travelers charged $861 per month for the same profile. Seniors in California, Maryland and Massachusetts don't pay credit-based rate penalties because those states ban the use of credit scores in home insurance pricing.
USAA earns high marks for customer service, financial strength and benefits tailored to military families. It also offers competitive rates and military-specific perks like uniform and personal property coverage.
MoneyGeek analyzed homeowners insurance quotes from multiple carriers across all 50 states using official data from Quadrant Information Services. Our analysis uses a sample profile representing typical homeowners: good credit (769 to 792), a wood-frame home built in 2000 with a composite shingle roof, $250,000 dwelling coverage, $125,000 personal property coverage, $200,000 liability coverage and a $1,000 deductible.
We also gathered data for high-value homes with $1 million in dwelling coverage, $500,000 in personal property coverage and $1 million in liability coverage. Comparing rates across locations and coverage scenarios shows how much premiums shift by profile and where the largest gaps between insurers appear. Learn more 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.
Fitzpatrick earned his degrees from Johns Hopkins University (M.A. Economics and International Relations) and Boston College (B.A.). His career began in financial risk management at State Street. He's also a five-time “Jeopardy!” champion.
